Saturday, July 30, 2011

Mobile App Index: 91.26(-7.49%) WE 7/29/11

The 7.49% drop represents the biggest weekly decline in the index to date.

Best Explanation:  The debt ceiling drama.  Everything went down in the US: DOW (-4.24%), Nasdaq (-3.58%), S&P 500 (-3.92%), FONE (-3.72%).  But EEM (-1.12%) was minimally impacted.

Winner: COBR (+1.56%) rose after a very positive earnings announcement.

Biggest Losers: GLUU (-12.24%), ROVI (-8.97%), P (-16.31%), AUGT (-10.62%).  The rest of the stocks in the index all went down between 4.54% (MITK) and 7.97% (VELT).


VOCS and COBR reported earnings this week.  On 7/26, VOCS announced that they beat expectations and raised guidance, but the stock went down 0.3% afterwards.  Likely this is due to the loss per share of (0.14) remaining the same while they increased operating expenses 30%.  By comparison the COBR earnings report was even more dramatic -- the company is clearly profitable now -- and operating income grew 277% YoY.  Wall St. rewarded COBR with a 9.4% jump after this announcement.  Put into the context of the debt ceiling news, it appears that these stocks have increased their relative value -- for now.

Upcoming earnings announcements: GLUU (8/2), ROVI (8/9), VELT (8/10), NCTY (8/16) .

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