I went out on a limb last week, and now it’s time to see how that decision played out.
- I predicted that Sodastream International Ltd (NASDAQ:SODA) would close higher on the week. The company behind the namesake beverage system that turns still water into flavored soda has seen its shares slip in recent weeks as a buyout rumor fizzled out. I figured that its earnings report on Thursday would be a good time to restore investor confidence. It was. Sodastream International Ltd (NASDAQ:SODA) came through with strong financials, boosting its outlook for all of 2013. The stock rose 14%. I was right.
- I predicted that the tech-heavy Nasdaq would outperform the Dow Jones Industrial Average. This has been a tricky call lately, so how did it play out this time? Well, this was a good week to bet on tech. The Nasdaq moved 2.1% lower, and the Dow managed to close just 0.6% higher. I was right.
- My final call was for Multimedia Games Holding Company Inc (NASDAQ:MGAM) to beat Wall Street’s income estimates in its latest quarter. The maker of casino games and other gaming equipment has been posting blowout quarterly results over the past year. I was banking on seeing the trend continue. Analysts were looking for a profit of $0.24 a share during the quarter, and it came through with net income of $0.28 a share. The stock jumped 11% on the news, hitting a new high. I was right.
Three out of three? Awesome!
Let me once again whip out my trusty, dusty, and occasionally accurate crystal ball to make three calls that may play out over the next few trading days.
1. Glu Mobile Inc. (NASDAQ:GLUU) will close higher on the week
It’s time for Glu Mobile to get sticky again. Shares of the mobile-apps publisher have shed nearly half of their value over the past year. It’s been a difficult climate, as fickle players are tiring of games too quickly.
Glu Mobile reports on Tuesday. Yes, analysts see a 30% drop in revenue and a small deficit reversing breakeven results from the same period a year earlier. This should be the fourth consecutive quarterly loss for Glu Mobile. However, it has come through with a narrower deficit than analysts were expecting in each of those three periods. With that trend working in its favor and the stock beaten down to the point where even ho-hum results may be applauded, there’s a good chance for a bounce.
My first call is for Glu Mobile to close higher on the week.