Barnes & Noble buyout offer; Fortitude Group to set up Medical Marijuana Company


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Companies Mentioned

NYSE:SSTK / PK:FRTD / NASDAQ:MDRX / NYSE:BKS
02/24/2014 [ACCESSWIRE]

Shutterstock, Inc. (NYSE: SSTK) – For an in-depth report on Shutterstock, Inc. follow: www.BullTrends.com/stockquote/SSTK

Shares of Shutterstock Inc. closed up 18.85% on Friday with about 1.5 milion shares traded. The stock was one of the biggest gainers in the NYSE and hit a new one year high of $99.00 during intra-day trading. The company reported a strong fourth-quarter earnings report where adjusted earnings per share improved from $0.19 to $0.26, better than estimates at $0.21, as revenue increased 38%, to $68 million, topping expectations of $65.8 million. CEO Jon Oringer called the quarter "a strong finish to an outstanding year," and said the company was "well-positioned to continue delivering innovation and inspiration to 1 million users worldwide."

Fortitude Group, Inc. (OTC: FRTD) – For an in-depth report on Fortitude Group, Inc.: www.BullTrends.com/stockquote/FRTD

Fortitude Group closed up over 111% on Friday with about 132 million shares traded. The stock was one of the biggest winners in the OTC market after the company’s CEO released a statement. Thomas J. Parilla announced, "I am pleased to inform shareholders that after extensive research we have decided to set up a Medical Marijuana company within our Medical Subsidiary. We are in negotiations with several Marijuana companies currently to supply the materials needed to initially take very unique products to market. We believe our Marijuana based products will fill a need within the medical community, and will also provide a solid line of Revenue and Earnings to the parent company."

Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) – For an in-depth report on Allscripts Healthcare Solutions, Inc. follow: www.BullTrends.com/stockquote/MDRX

Allscripts Healtchare Solutions soared on Friday to close up 6.50% on about 8.6 million shares traded. The stock was one of the biggest gainers in the NASDAQ and even hit a new one year high of $18.87 during intra-day trading. Leerink raised its price target on the company’s shares to $23 saying the company reported a high quality Q4 with bookings well ahead of expectations. The firm keeps an Outperform rating on the stock.

Barnes & Noble, Inc. (NYSE: BKS) – For an in-depth report on Barnes & Noble, Inc. follow: www.BullTrends.com/stockquote/BKS

Barnes & Noble Inc. closed up 5.42% on Friday with about 12.1 million shares traded. Investment firm G Asset Management said on Friday that it had offered to buy a 51 percent stake in either Barnes & Noble Inc or in the company’s Nook digital business. The proposal for Barnes & Noble as a whole would be for $22 per share, and would value the top U.S. bookstore chain at $1.32 billion. The proposal for Nook would value that unit at about $300 million.

 

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