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Emerging Markets Consulting, LLC.: Emerging Markets Consulting, LLC. :
Emerging Equity Alerts
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:23072008
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
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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.
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