Healthcare management software developer Kallo Inc.'s (OTCQB: KALO) stock price soared 833% on news that it had signed a $200-million-dollar contract with the health minister of the Republic of Guinea.
On Jan. 23, the penny stock closed at 28 cents a share, up 25 cents from 3 cents the previous day, on a record volume of 2,650,806 shares. By doing so, the Canadian company blew past its previous 52-week high of 0.055 cents.
The signing of the contract, which was confirmed by an 8-K SEC filing, will see Kallo provide its specialized software programs that makes it possible to smoothly run mobile and rural health clinics on a large scale as part of Guinea's effort to bring healthcare to its people.
"Child mortalities and maternal health are a major cause of concern for our government," Guinea's Health Minister Dr. Edouard Niankoye, said in a Dec. 9, 2013 written statement. "And once fully implemented, this U.S. 200-million dollar healthcare project will help reduce infant mortality, enhance maternal health and deliver a high standard of healthcare in Guinea," he added.
The Gross Domestic Product per capita in the West African country was last recorded at $308.20 US dollars in 2012, according, Trading Economics.
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L'Oreal making agile moves
French Cosmetic Titan L'Oreal Co. (OTCPINK: LRLCY) has been making a lot of strategic moves lately, which is probably one of the reasons its stock volume is going through the roof.
On Jan. 23, L'Oreal's stock volume reached 685,563, more than 15 times its three-month average of 45,424.
On Jan. 14, it was reported that L'Oreal got the official OK for its $843 million bid to acquire the Hong Kong facial-care company Magic Holdings International. According to published reports, the bid of HK$6.30 per share is worth a total of $843 million and the China's commerce ministry already approved the deal. Magic's MG brand is said to be very popular in China, which is a country the French cosmetic company has had a presence since 1997. Currently, L'Oreal operates two plants in China that employ about 3,500 workers.
Industry experts say another smart move L'Oreal is contemplating is buying back its shares from Swiss food giant Nestles, which owns a 29.8% stake in the company. In published reports, L'Oreal's CEO Jean-Paul Agon said the company had the resources to buy back its shares, if the opportunity presents itself. By doing so, L'Oreal could plot its strategies and new products unimpeded, according to some analysts.
LRLCY stock closed at $34.91 cents a share on Jan. 23, up 19 cents from $34.72 the previous day.
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