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Hudson Technologies Shares Surge on Q3 Results (HDSN)

Shares of Hudson Technologies Inc. (NASDAQ: HDSN), a refrigerant services company providing solutions to recurring problems within the refrigeration industry, surged on Thursday after the Pearl River, New York-based company reported its financial results for the third quarter.

For the quarter ended September 30, 2013, Hudson Technologies reported revenue of $15.2 million, compared to $14.5 million reported for the same period in the previous year.

HDSN reported an operating loss of $14.4 million for the quarter, compared to an operating income of $3.7 million reported for the same period in the previous year. The company reported an operating loss for the quarter as it recorded a lower-of-cost-or-market inventory adjustment of $14.7 million. The adjustment was mainly due to around 50% drop in R-22 pricing from March to September 2013 after the issuance of the EPA’s final rule in April 2013, which allowed higher-than-expected virgin R-22 allowances for 2013 and 2014. The LCM inventory adjusted significantly increased the company’s cost of sales.

Hudson Technologies registered a net loss of $9.1 million, or $0.36 per share for the quarter. This compares to net income of $2.2 million, or $0.09 per basic share reported for the same period in the previous year. Excluding the LCM adjustment, Hudson Technologies’ non-GAAP gross profit for the quarter was $2.1 million.

For the nine-month period ended September 30, 2013, Hudson Technologies reported a 4% increase in revenue to $53.8 million.

Kevin J. Zugibe, Chairman and CEO of Hudson Technologies, said that R-22 prices have dropped by 50% following the EPA’s issuance of its final rule in April this year, adversely impacting the value of the company’s inventory and causing it to record a large write down in the form of an LCM inventory adjustment. Zugibe further said that the company had been operating under the belief that the EPA was applying a step-down approach to the phase-out of R-22. He added that in spite of the EPA’s actions, the company was able to achieve modest growth in both revenues and volumes during the later part of 2013 selling season.
Following the release of strong quarterly results, HDSN shares surged to an intra-day high of $2.20 on Thursday. The stock pared some of its gains in late trading on Thursday to finish the day 20.41% higher at $2.13.

Thursday’s huge rally allowed HDSN shares to pare some of their losses for the year. The stock, however, is still down nearly 41.50% in 2013 so far. The sharp decline in HDSN shares came after the April ruling. However, on Thursday, HDSN shares broke through some key technical levels, indicating that market sentiment has finally turned bullish on the stock. HDSN shares broke through $2 resistance level and also crossed above their 50-day moving average, which is a bullish signal. The stock’s MACD also crossed above the signal line. HDSN shares could face resistance at around $2.20. However, if the stock breaks through this level then there could be significant upside potential.

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Gulf Resources Break Through Key Technical Level

Shares of Gulf Resources Inc. (NASDAQ: GURE), a China-based manufacturer and trader of bromine and crude salt as well as a manufacturer and seller of chemical products used in oil and gas field exploration, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals, have risen sharply in trading today. In fact, the rally has pushed GURE shares above some key technical levels. The stock also struck a 52-week high of $2.06.

GURE shares have had an excellent run over the past month after the company reported its financial results for quarter ended June 30, 2013. For the second quarter, GURE reported net revenue of $32.9 million, up 5% on a year-over-year basis. The company attributed the year-over-year increase in revenue to the growth in its chemical products segment.

The company’s gross profit for the quarter was $9.6 million, down 3% on a year-over-year basis. Gross margin for the quarter was 29%, down from 32% reported in the second quarter of 2012.
Gulf Resources reported second-quarter income from operations of $7.4 million, compared to $7.6 million reported for the same period in the previous year. The company’s operating margin for the quarter was 22%, compared to 24% reported for the same period in the previous year. Net income for the quarter was $5.4 million, or $0.14 per share, compared to $5.7 million, or $0.16 per share reported for the same period in the previous year.

Xiaobin Liu, CEO of Gulf Resources, last month said that he is pleased that the company’s net revenue for the second quarter of 2013 increased 5% as compared with the same quarter of 2012, which is mainly due to the increased sales efforts.

Commenting on the company’s outlook, Liu said that although still impacted by China’s macro-economic conditions, some raw material prices are increasing. Liu further said that the average bromine price in the second quarter of 2013 increased to $3,084 per ton as compared to $2,954 by end of 2012. Liu also noted that crude salt price is in a steadily upward trend, and the gross margin of chemical products segment also increased to 33% in the second quarter of 2013. Liu added that the company will continually try to expand its sales markets, increase its product utilization rate and decrease management and administration expenses.
GURE shares surged to a 52-week high of $2.06 in trading today. At last check, the stock was up 17.75% to $1.99 on above average volume of 818,558. GURE shares have gained nearly 35% in the last one month.
The stock today broke through $1.80 resistance level as a result of the sharp rise. This is a strong bullish signal. The bullish trend is further confirmed by the stock’s MACD chart. GURE shares are expected to break through $2 level in the next few trading sessions.

The technical indicators for GURE suggest that the stock could see some gains in the near-term. However, GURE also looks like a good opportunity in the longer-term, given the company’s bullish outlook.
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Big Mover on The Nasdaq; Towerstream Corporation (TWER)

Shares of Towerstream Corporation (NASDAQ: TWER), a provider of broadband services to commercial customers, have risen sharply in trading today. TWER shares have been boosted by M&A news in the telecom sector. The sharp rise in trading today has helped TWER shares break through some key technical levels. Technical indicators suggest that the upward momentum in TWER shares could continue.

Earlier today, two major deals were announced in the telecom sector. Verizon Communications (NYSE: VZ) announced that it will acquire Vodafone Group Plc’s (ADR) (NASDAQ: VOD) 45% stake in Verizon Wireless, the joint venture between VZ and VOD. Meanwhile, Microsoft Corp. (NASDAQ: MSFT) announced that it will acquire Nokia Corporation’s (ADR) (NYSE: NOK) handset business.

News of the deals lifted shares in the telecom sector, including those of Towerstream Corporation. However, TWER shares are also gaining as the stock’s technical indicators are giving bullish signals.

TWER shares have surged after the stock entered oversold territory recently. At last check, TWER shares were up 8.60% to $2.40 on volume of 192,643. The stock broke through $2.30 resistance level earlier in the day. It also broke through $2.40 resistance level before paring some of the gains. The stock’s MACD is about to cross over the signal line. This is a strong bullish signal. In addition, the stock is also about to establish a “golden cross”, with the 50-day moving average about to cross the 200-day moving average.

Once the 50-day moving average crosses the 200-day moving average, there could be significant gains.
TWER shares could break through $2.40 and $2.50 resistance levels in the next few trading sessions. TWER shares could see a pullback from around $2.70. Certainly, there is significant upside potential from current level.

Last month, Towerstream had reported its financial results for the second quarter ended June 30, 2013. For the quarter, the company reported revenue of $8.21 million, compared to $8.10 million reported for the same period in the previous year. The company’s consolidated gross margin for the quarter was 35%, compared to 54% reported for the same period in the previous year. Churn rate was 2.37% during the second quarter of 2013, compared to 1.65% reported for the same period in the previous year. ARPU stood at $740, compared to $708.

At the end of second quarter of 2013, the company signed a long-term Wi-Fi lease agreement with a major cable operator. Jeffrey Thompson, President and CEO of Towerstream, said that securing the first anchor tenant for TWER’s neutral host network is a major milestone and validates the company’s rent-based business model. Thompson further said that the company expects to continue to expand its Wi-Fi customer base over the balance of the year, while preparing for the impending rollout of small cell.

According to Joseph Hernon, CFO of Towerstream, small cell technologies, including Wi-Fi, will allow service providers and platform players to differentiate their offering, add new services, and improve the user experience in dense urban markets where demand levels are pressuring network capacity.

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Big Mover on the Nasdaq; NF Energy Saving Corp. (NFEC)

China-based NF Energy Saving Corp. (NASDAQ: NFEC) today announced the signing of an energy service contract in Dongguan, China. The announcement sent NFEC shares sharply higher.

NF Energy Saving, which manufactures large diameter energy efficient flow control systems for a range of industries in China, signed an energy efficiency service contract with Dongguan Xianjia Plastic Products Company. The contract was signed through Liaoning NF Energy, which is NFEC’s wholly-owned subsidiary.

Under the terms of the contract, NFEC will retrofit 58 units of Dongguan Xianjia’s injection molding machines, which will result in energy saving of up to 40%. The contract certainly highlights the increasing demand for energy efficient products and services in China. In the last few years, the Chinese government has also pushed for energy saving products and services. This certainly augurs well for NFEC.
Last week, NF Energy Saving had reported its financial results for the second quarter ended June 30, 2013. For the quarter, the company’s total revenue stood at $1.47 million. For the first six months of 2013, the company’s revenue stood at $2.77 million.

NFEC’s gross profit for the second quarter stood at $0.43 million. For the six-month period ended June 30, 2013, NFEC reported a gross profit of $0.84 million. Net income for the second quarter was $52,017, while for the first half of 2013 it was $61,782.

Earlier this month, NF Energy Saving also announced the establishment of a new subsidiary, NF Energy Corporation Guangdong Subsidiary. The subsidiary has been established in Guangzhou, China. Through the subsidiary, the company is looking to improve the development of its energy saving products and enable it to take advantage of the expanding energy saving industry in China.

Given all these positive developments, it is not surprising that NFEC shares have been significant interests from investors recently. The stock surged 22.63% to finish at $2.33 in trading today after striking a 52-week high of $2.88. NFEC shares have now gained more than 86% in just the last three trading sessions. The stock is nearly 250% in the last one month. Year-to-date, the stock has gained more than 129%.
The gains in the last one month have pushed NFEC shares above their 50-day and 200-day moving averages. This is a strong bullish signal. The stock’s MACD chart further confirms the bullish trend. The MACD is currently trading above the signal line as well as the zero-line. Also, the MACD histogram is indicating increasing upward momentum. Certainly, technical indicators suggest that market sentiment is bullish on the stock at the moment.

While technical indicators point to further gains in NFEC shares in the near-term, the increasing demand for energy saving products and services in China makes NFEC an excellent long-term bet as well. Also, the recent developments at NFEC suggest that the company is well-positioned to capitalize on the increasing demand for energy products and services in China. All these make NFEC a stock to watch in the long-term as well.
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Will the Pullback in Equities Continue?

On Friday, U.S. equity market slipped, with all three benchmark index ending the day in red. Stocks also fell for the week. The pullback last week has prompted investors to ask the question whether the rally in U.S. 
equity market is coming to an end. In an interview with CNBC last week, Marc Faber said that he expects a 1987 like crash in equities in the second half of the year.

Faber is not the only one expecting a pullback right now. Speaking to CNBC, John Stoltzfus, Chief Investment Strategist at Oppenheimer, said that there is a considerable opportunity for profit taking given that the market is still not certain about the timing of the Federal Reserve’s plans to scale back its bond purchase program.

 While the broader market struggled last week, basic materials sector enjoyed an excellent run as some robust economic data from China lifted investors’ sentiment on commodities. Copper prices rose sharply last week. Shares of mining giants such as BHP Billiton (ADR) (NYSE: BHP), and Rio Tinto Plc (ADR) (NYSE: RIO). It will be interesting to see if the sector can continue its excellent run amid signs of improvement in the Chinese economy.
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Automakers Near 52-Week High

U.S. automakers Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) are hovering around their 52-week high as improving U.S. auto sales are continuing to benefit the two companies. Last week, a report showed that auto sales rose to pre-crisis level in the month of July. Both Ford and GM registered a sharp rise in July U.S. auto sales

While Ford registered an 11% increase in U.S. auto sales, GM posted a 16% increase in sales. More importantly, the outlook for U.S. auto sales remains robust.One of the major factors behind improving auto sales has been increasing demand for pickup trucks, which is being driven by an ongoing improvement in the economy.

Last week, a data from the Commerce Department showed that the U.S. economy grew more than forecast in the second quarter of 2013, while manufacturing activity accelerated in the month of July.
 The big question is whether you should buy automakers at current levels. The answer is probably yes as the recovery in the auto market is expected to continue, benefiting both Ford and GM. In terms of valuation, both Ford and GM are looking attractive right. Ford is trading on a P/E ratio of just 11.52, while GM is currently trading on a P/E ratio of 13.25. Given these factors, there is certainly further upside potential in automaker
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