Joe's Jeans Inc. (JOEZ) & magicJack VocalTec (CALL) - Zacks #1 Rank Top Performers
August 27 2012 - 7:00PM
Zacks
It was a quiet day on Wall Street Tuesday, but there were several
Zacks #1 Rank (Strong Buy) stocks making some noise.
And Joe's Jeans Inc. (JOEZ) was one of the
loudest, with shares surging +8.6% on heavy volume.
As its name implies, Joe's Jeans is a premium denim
manufacturer. It sells its products through department stores and
boutiques.
Joe's delivered better than expected second quarter
results on July 16. Earnings per share came in at 2 cents, beating
the Zacks Consensus Estimate of 1 cent. Revenue rose 16% to $28.6
million, ahead of the consensus of $27.0 million. This was driven
by a stellar 10% jump in same-store sales.
The solid Q2 beat led analysts to revise their
estimates higher for both 2012 and 2013. It became a Zacks #1 Rank
(Strong Buy) stock on July 18.
magicJack VocalTec Ltd. (CALL) was another
hot Zacks #1 Rank (Strong Buy) stock, jumping +4.8% on Tuesday.
magicJack VocalTec provides voice-over-IP (VoIP) technology,
including the softphone and magicJack.
CALL delivered solid second quarter results on July
30. Earnings per share came in at 51 cents, beating the Zacks
Consensus Estimate by a penny. Revenue surged 34% year-over-year to
$38.6 million, beating the consensus of $36.0 million. This was
driven by a 68% increase in the sale of magicJack and magicJack
PLUS.
Analysts revised their estimates higher for 2013
following better-than-expected Q2 2012 results. CALL has been
either a Zacks #1 (Strong Buy) or #2 (Buy) Rank since June 15. It
has soared more than +36% since then.
Other notable top performing Zacks #1 Rank stocks
from Tuesday include: AAC Technologies Holdings Inc.
(AACAY), which was up +8.6%, General Communication Inc.
(GNCMA), which rose +4.6%, and Ikanos Communications, Inc.
(IKAN), which gained +4.3%.
To see the full list of Zacks #1 Rank (Strong Buy)
stocks click here.
Todd Bunton is the Growth & Income Stock
Strategist for Zacks Investment Research and Editor of the Income
Plus Investor service.
MAGICJACK VOCTC (CALL): Free Stock Analysis Report
JOES JEANS INC (JOEZ): Free Stock Analysis Report
To read this article on Zacks.com click here.
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