These Four Stocks Are in Spotlight on Friday and Here’s Why

Ubiquiti Networks Inc (NASDAQ:UBNT) picked up more than 12% in thick trading following strong results for its first fiscal quarter of 2016. The company released a non-GAAP calculated net income of $45.5 million, or $0.51 per share for the most recent quarter that ended September 30, reflecting an increase from the $43.4 million, or $0.48 per share of the same quarter in 2014. Revenues slightly picked up $151.4 million in the first fiscal quarter of 2016, compared to the $150.1 million, which was reported in the first fiscal quarter of 2015. As guidance for the second quarter of fiscal 2016, Ubiquiti Networks Inc (NASDAQ:UBNT) laid out a revenue projection of between $150 million and $160 million, GAAP EPS range of $0.48 to $0.55 and a non-GAAP EPS range of $0.49 to $0.56.

In addition, the company said its board of directors approved a $50 million stock repurchase program. Ubiquiti builds network communication platforms with over 28 million devices sold worldwide. From the pool of funds in our database, 12 funds held around 1.70% of the company at the end of June.

TrueCar Inc (NASDAQ:TRUE) rocketed by around 31% in active trading, after reporting a narrower GAAP net loss of $11.1 million, or $0.13 per share, for the third quarter of 2015. The car-buying service company reported increased revenues at $72.4 million for the quarter ended September 30, from the $56.8 million reported in the same period last year. TrueCar Inc (NASDAQ:TRUE) said it reached all-time records for unique visitors, prospects and units across its channels. “Total unique visitors reached 6.6 million in the third quarter, representing year-over-year growth of 43%,” company said in a Form 8-K. Sixteen funds in our database held stakes worth $169,000 by the end of the second quarter of 2015.

Mad Catz Interactive, Inc. (USA) (NYSEMKT:MCZ) dropped by some 22% in brisk trading, amid its surge in profits fo the fiscal 2016 second quarter ended September 30. The San Diego, Calif.-based company booked $38.9 million in net sales for the fiscal 2016 second quarter, reflecting a 73% increase from the $22.5 million it reported for the same period last year. Its operating income emerged from last year’s losses and totalled $859,000 for the second quarter, from a loss of $424,000 in the prior-year period. Meanwhile, adjusted EBITDA was $1.40 billion, compared to a loss of $111,000 a year earlier.

Disclosure: None