Midday movers: Lloyds, SanDisk, OCZ

Stocks leap on encouraging US employment reports and the ECB's bond-buying announcement.

By MSN Money Partner Sep 6, 2012 12:52PM
Wall Street sign, copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

European banks traded in New York, including Lloyds (LYG) and Deutsche Bank (DB), were among the day's notable gainers following the ECB's announcements.

Among the other notable gainers Thursday was SanDisk (SNDK), which gained 8% after Pacific Crest said OCZ Technology's (OCZ) announcement that NAND supplies were very tight would benefit SanDisk.

Also higher were shares of Men's Wearhouse (MW), up over 15% after its quarterly earnings and forward guidance beat consensus.

 Among the noteworthy losers was OCZ Technology, down 22% following its guidance cut, and Tangoe (TNGO), down about 13% after being mentioned cautiously for the second time in two weeks as a potential short-sale target. logo




Tags: DBSNDK
1Comment
Sep 9, 2012 12:56PM
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I'm a former employee of Tangoe, regardless of those short selling I can tell you that those allegations of Tangoe cooking the books are true. These guys are nothing more then a Ponzi scheme.  They use investor money to acquire other companies and then claim their revenue then use those numbers to acquire more investor money to acquire more companies, etc...  However, if you look at the numbers Tangoe has never been (except for a short stint after they acquired the company I used to work for calling billingIT/Information Strategies group as we built a open-source based distributed high volume TEM platform which Tangoe acquired which was very profitable) profitable, is not profitable and never will be profitable as their model is not profitable.  It doens't matter if they acquire 100% of the market share -- even then they will not be profitable.  They are merely a pump and dump.  If you look the board, investors and execs have all been dumping their socks while they can still cash out.  This also reeks of insider trading. They should be in prison right next to Madoff (another crook I also used to work for).  
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