A Look at Five Stocks Gaining Ground on Wednesday

OSI Systems Posts Q4 Earnings

OSI Systems, Inc. (NASDAQ:OSIS)’s stock has jumped by some 12% after the company announced fiscal fourth quarter results, beating estimates on earnings, but falling short of revenue forecasts. The California-based security systems developer posted EPS of $0.55 on $221.5 million revenue, while analysts were expecting EPS of $0.52 on $232.32 million revenue. For fiscal 2017, the company expects its EPS to fall in the range of $2.60-$2.90, versus the consensus of $2.57, while revenue for the year is expected to come in at $865-895 million, versus the consensus of $895.34 million. Josh Goldberg’s G2 Investment Partners Management held 83,400 shares of OSI Systems at the end of June.

MeetMe Reiterates Guidance

MeetMe Inc (NASDAQ:MEET)’s stock has gained over 6% today after the company  reiterated its financial guidance for the third quarter and full-year following the recent volatility in its share price and in anticipation of upcoming investor meetings. The Pennsylvania-based social media company now expects revenue for the third quarter to come in at $17.0 million to $17.5 million, which depicts a growth of 19% to 22%. Adjusted EBITDA in the quarter are expected between $6.5 million and $7.0 million. For the full year, MeetMe expects $66.0 million to $68.0 million in revenue, while adjusted EBITDA for the year is expected to be in the range of $25.0 million to $27.0 million. Renaissance Technologies owns 761,759 shares of MeetMe as of the end of June.

Court Rules in Favor of Lumber Liquidators

Last on our list of today’s soaring stocks is Lumber Liquidators Holdings Inc (NYSE:LL), which is up by some 5% so far today after Superior Court of the State of California ruled in favor of the hardwood flooring company in a case in which Lumber Liquidators was accused of not warning its consumers about cancer-causing formaldehyde in some of its flooring products. The court also ordered the plaintiffs to pay Lumber Liquidators $100,000 as reimbursement for costs. In a statement Lumber Liquidators CEO John Presley said that the company is getting strengthened across “every area” including compliance practices. Mr. Presley added that the company looks forward to deliver quality products that are in compliance with the California’s environmental standards. Back in 2014, Global Community Monitor and Sunshine Park LLC filed a lawsuit against Lumber Liquidators, claiming that the company failed to provide a Proposition 65 formaldehyde warning to California consumers. John W. Rogers’ Ariel Investments owned 517,635 shares of Lumber Liquidators Holdings Inc (NYSE:LL), as of the end of the first quarter of 2016.

Disclosure: None