NITE had a very big day on Wednesday, trading up over 19% to finish the session at $17.16 after announcing Q1 profits that pleased the markets. Volume was extremely heavy on Wednesday, with over 13 million shares changing hands, compared to a normal daily average of 1.7 million shares traded. The company surged to a new 52 week high of $17.40, blowing away its old mark. NITE reported Q1 earnings of 52 cents per share on revenues of $276.5 million dollars, absolutely blowing away Wall Street forecasts of 30 cents per share of earnings on revenues of $194 million dollars. NITE has long been one of my favorite company’s, and I really fell that the company is well-positioned to move much higher as 2006 progresses. NITE finished with a market cap of just under $1.8 billion dollars after Wednesday’s close.
Sorry, the comment form is closed at this time.