Thursday, February 11th, 2010
Thursday's Small Stocks with Big Moves
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WellTek Incorporated (OTC:WTKN), Geeknet, Inc. (NASDAQ:LNUX), and Support.com, Inc. (NASDAQ:SPRT) are three small stocks with big moves during today’s session.
WellTek Reports International Sales Growth
WellTek Incorporated (WTKN, Free Analysis), a manufacturer and distributor of medical exercise and fitness equipment, announced the completion of its first sale in New Zealand following the sale of 227 MedX exercise and medical machines in a diverse list of countries, including Austria, Germany, India, South Korea, Spain and Switzerland.
The company was first organized on January 23, 2009 with a business plan that focused on the establishment of retail pharmacies overseas. However, it entered into a merger agreement on September 1, 2009 with MedX Systems, Inc., which develops medical exercise equipment. The subsidiary now offers technology that combines functional testing and resistances exercises.
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Geeknet Swings to a Profit of 3 Cents
Geeknet, Inc. (LNUX, Free Analysis), an online network targeting software developers and system administrators, reported fourth quarter results that surprised the market. Net income came in at $0.03 per share, versus $0.04 per share a year ago, while revenues jumped to $32.6 million from $24.8 million during the comparable period.
The company attributed the gains in revenue to benefits associated with numerous investments in 2009, including ThinkGeek. The online retailer of technology-orientated products delivered record revenues due to an increased focus on marketing and awareness. Meanwhile, the company expects these trends to continue in 2010.
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Support.com Signs High-Profile Marketing Exec
Support.com, Inc. (SPRT, Free Analysis), a provider of technology and solutions designed to provide support, announced better-than-expected Q4 earnings after the bell on Wednesday. Net loss from continuing operations came in at $3.4 million, or $0.07 per share, on revenues that hit $5.8 million compared to $3.1 million during the comparable period a year ago.
The company also announced that Michael Linton has joined its board of directors. Mr. Linton is one of the country’s leading consumer marketers, and a former eBay and Best Buy Chief Marketing Officer. Investors are hoping that the move may result in marketing ideas to help improve brand awareness and drive sales going forward.
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-- Written by David Breen
