March 4th, 2006
This morning Berkshire Hathaway announced that the company’s earning is 2005 lept 17% higher than 2005’s. These gains were attributed to an increase in insurance premiums as well as a large increase in investments. Buffett, who owns a 38% share of Berkshire Hathaway was comsidered the second richest man in the world with a net worth of $40 billion, behind Bill Gates’ net worth of $51 billion according to the 2005 Forbes 400 list. On Friday Berkshire’s market cap was $134.73 billion making Buffett’s stake worth about $51 billion, Tied with Gates’ quoted worth in Forbes. This news very likely made Warren Buffet the new richest man in the world.
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March 3rd, 2006
Shares of Finistar Corp were sent sailing after the company announced it’s 4th quarter results. Finistar opened the day at 3.62 and climbed 40% to 4.08. The fourth quarter yeilded $8.3 million in income, ending a long streak of unprofitable quarters and the previous quarter’s loss of $15.8 million.
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March 2nd, 2006
The first quarter for Versant Corporation ending Jan 31st was reported today. The company had profits of $766,000, the largest since its IPO in 1996. Surprisingly these profits came with a decrease in revenues from $5.1 million the previous quarter to $4.6 million this last quarter. The increase in profits were attributable to the company’s 2005 restructuring plan which emphasized cutting costs. The decrease in revenues was do to the finalization of the sale of Versant’s discontinued operation WebSphere.
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March 2nd, 2006
Metretek Technologies, a company that provides energy management products for electricity and natural gas distributors recieved it’s largest order ever today. Metretek’s subsidiary, PowerSecure annouced today that one of their current customers contracted them for a $75 million project that will last through 2006 and 2007. The announcement came before trading this morning and started their stock of at $19.00 compared to the previous days close of $14.15. By the end of the day MEK was trading at $19.62 or 38.66% higher than yesterday.
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February 28th, 2006
The biggest news today came from Bitstream Inc., an internet software company specializing in online publishing, browser, and other software. Bitstream trades publicly on the nasdaq under the symbol BITS. Today they announced 4th quarter earnings much higher than expected at $788,000. Pevious earnings where $312,000 in the third quarter of 2005 and $40,000 in the 4th quarter of 2004. The increased earnings where driven by growth in sales. Revenues increased 39% to $1,295,000 and grew in all of Bitstream’s product lines. For more information see Bitstream’s press release.
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