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Emerging Markets Consulting, LLC. : Emerging Equity Alerts
Published in M2 PressWIRE on
Wednesday, 23 July 2008Copyright (C) 2006, M2 Communications Ltd.
Orlando, FL -- Stocks gaining traction in yesterday's trading were, WellCare Health Plans, Inc., (NYSE: WCG), Foundry Networks, Inc., (NASDAQ: FDRY), Bluegreen Corporation, (NYSE:BXG), and Ruth's Hospitality Group, Inc.(NASDAQ: RUTH). Money flow and a positive chart pattern can be important indicators in the timing of a trade.
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WellCare Health Plans, Inc. closed at $36.25 up $7.02 (24.02%) with volume of 3,729,206 Yesterday WellCare Health Plans Inc. announced that their restating its earnings for 2004, 2005, 2006 and the first half of 2007, after determining that the company owes refunds under contracts to provide managed care services for government health care programs in Florida and in Illinois. The restatements stem from accounting errors related to contracts with the Florida Agency for Health Care Administration, the Florida Healthy Kids Corp. and the Illinois Department of Health and Family Services, WellCare said in a filing with the Securities and Exchange Commission.
About WellCare Health Plans, Inc.
WellCare Health Plans, Inc. provides managed care services exclusively for government-sponsored healthcare programs, focusing on Medicaid and Medicare in the United States. It offers a range of Medicaid and Medicare plans, including health plans for families, children, the aged, blind and disabled, and prescription drug plans. The company's Medicaid plans include plans for individuals, who are dually eligible for both Medicare and Medicaid, and recipients of the Temporary Assistance to Needy Families (TANF) programs, Supplemental Security Income (SSI) programs, State Children's Health Insurance programs (S-CHIP), and the Family Health Plus programs (FHP). The TANF program generally provides assistance to low-income families with children and the SSI program generally provides assistance to low-income aged, blind, or disabled individuals. S-CHIP and FHP programs are designed for families, who exceed the income thresholds for Medicaid. WellCare's Medicare plans include stand-alone prescription drug plans and Medicare Advantage plans, which include both Medicare coordinated care (MCC) plans and Medicare private fee-for-service plans. Medicare Advantage is Medicare's managed care alternative to original Medicare fee-for-service, which individuals enroll into directly through Centers for Medicare & Medicaid Services. MCC plans are plans that are administered through a health maintenance organization and generally require members to seek health care services from a network of health care providers. PFFS plans are open-access plans that allow members to be seen by any physician or facility that participates in the Medicare program. As of December 31, 2006, it served approximately 2,258,000 members through a network of 50,000 physicians, 600 hospitals, and approximately 15,000 other ancillary providers and skilled nursing facilities. The company, formerly known as WellCare Group, Inc., was founded in 1985. WellCare is headquartered in Tampa, Florida.
Foundry Networks, Inc. closed at $18.08 up $4.42 (32.36%) with volume of 86,130,483 Foundry Networks late Monday reported its second-quarter net income rose to $18.3 million, or 12 cents a share, from $15.6 million, or 10 cents a share, a year earlier. The data-center network-technology specialist said its revenue increased 12% to $160.7 million from $143.2 million in the same quarter last year. Analysts had forecast earnings of 12 cents a share on revenue of $153 million.
About Foundry Networks, Inc.
Foundry Networks, Inc. designs, develops, manufactures, markets, and sells switching and routing solutions for wired and wireless local area networks (LAN), metropolitan area networks (MAN), wide area networks (WAN), and other infrastructure products worldwide. It also sells various fixed configuration switches and modular platforms. The company's products include edge and backbone Ethernet switches, Web and content-aware application switches, network-wide security solutions, wireless LAN and access points, wide area access routers, and internet provider edge and service provider core MPLS routers. It sells its products and services through its direct sales efforts, resellers, and integration partners. The company's customers include Internet service providers, metro service providers, and enterprises, including government agencies, education, healthcare, entertainment, automotive, energy, retail, financial services, aerospace, technology, transportation, and e-commerce companies. Foundry Networks, Inc. was founded in 1996 and is based in Santa Clara, California.
Bluegreen Corporation closed at $12.04 up $5.60 (89.96%) with volume of 1,372,184 Bluegreen Corp., an operator of vacation ownership plans and planned residential communities, said Monday it reached a nonbinding agreement to be purchased by Diamond Resorts International for about $500 million, excluding debt. The deal works out to a price of $15 per share, more than double Bluegreen's Monday closing price of $6.44. The tentative agreement allows Diamond Resorts to conduct a more thorough due diligence under an exclusive negotiating window that expires Sept. 15. Any final agreement would likely include a "go-shop" provision that would allow Bluegreen to solicit a more lucrative offer.
About Bluegreen Corporation
Bluegreen Corporation provides places to live and play through its resorts and residential communities businesses. It operates in two segments, Bluegreen Resorts and Bluegreen Communities. The Bluegreen Resorts segment acquires, develops, markets, sells, and manages real estate-based vacation ownership interests (VOI) in resorts in the United States and Aruba. Its Bluegreen Vacation Club system permits the VOI owners to purchase a real estate timeshare interest, which provides them with an annual or biennial allotment of points that can be redeemed for occupancy rights at Bluegreen Vacation Club resorts. As of December 31, 2007, this segment had approximately 185,100 VOI owners, including approximately 151,100 members in the Bluegreen Vacation Club. In addition, it provides resort management services to resort property owners associations. The Bluegreen Communities segment acquires, develops, and subdivides property. It also markets residential land homesites to retail customers who seek to build a home in a residential setting, including on properties featuring a golf course and related amenities. This segment developed and sold homesites directly to retail consumers in communities primarily located in Texas, Georgia, North Carolina, and Virginia. In addition, it provides resort property management services, resort title services, resort amenity operations, non-cash sales incentives for buyers of the VOIs, rental brokerage services, realty operations, and daily-fee golf course operations, as well as finance to individual purchasers of the VOIs and homesites. Bluegreen Corporation was founded in 1966 and is headquartered in Boca Raton, Florida.
Ruth's Hospitality Group, Inc. closed at $4.74 up $.95 (25.07%) with volume of 620,206 Ruth's Hospitality Group, Inc. (Nasdaq: RUTH - News) today announced that it will host a conference call to discuss second quarter 2008 financial results on Tuesday, August 5, 2008 at 4:30 PM Eastern Time. A press release with second quarter 2008 financial results will be issued at approximately 4:00 PM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 800-925-2151 or for international callers by dialing 913-312-1433. A replay will be available one hour after the call and can be accessed by dialing 888-203-1112 or 719-457-0820 for international callers; the password is 6147653. The replay will be available until August 12, 2008. The call will also be webcast live from the Company's website at www.rhgi.com under the investor relations section.
About Ruth's Hospitality Group, Inc.
Ruth's Hospitality Group, Inc. operates as a fine-dining steakhouse company in the United States and internationally. The company's restaurants cater to business clientele, and families and special occasion diners. As of March 30, 2008, it operated 120 restaurants, including 13 international franchisee-owned restaurants in Mexico, Hong Kong, Taiwan, Canada, Japan, and the Dutch Caribbean. The company, formerly known as Ruth's Chris Steak House, Inc., was founded in 1965 and is headquartered in Heathrow, Florida.
About Emerging Markets Consulting, LLC Emerging Markets Consulting, LLC is an investor relations and consulting firm serving carefully selected micro cap and small cap clients. Services available include turnkey investor relations services, consulting, marketing and related services needed by publicly traded companies. EMC is unique in that they only work with companies after a stringent due diligence process and they also work with a limited number of clients in order to provide service that is exceptional. The above referenced companies are not clients of Emerging Markets and no compensation has been paid for the exposure provided by this report.
Investors are advised that this analysis is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy. This report does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. The information contained herein is based on sources that we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Past performance is no guarantee of future results. Please consult a broker before purchasing or selling any securities mentioned. Any opinions expressed herein are statements of our judgment as of the date of publication and are subject to change without notice. Reproduction without written permission is prohibited.
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