It was a quiet day on Wall Street Tuesday, but there were
several Zacks #1 Rank (Strong Buy) stocks making some noise.
Joe's Jeans Inc.
) was one of the loudest, with shares surging +8.6% on heavy
As its name implies, Joe's Jeans is a premium denim manufacturer.
It sells its products through department stores and boutiques.
Joe's delivered better than expected second quarter results on July
16. Earnings per share came in at 2 cents, beating the Zacks
Consensus Estimate of 1 cent. Revenue rose 16% to $28.6 million,
ahead of the consensus of $27.0 million. This was driven by a
stellar 10% jump in same-store sales.
The solid Q2 beat led analysts to revise their estimates higher for
both 2012 and 2013. It became a Zacks #1 Rank (Strong Buy) stock on
magicJack VocalTec Ltd.
) was another hot Zacks #1 Rank (Strong Buy) stock, jumping +4.8%
on Tuesday. magicJack VocalTec provides voice-over-IP (VoIP)
technology, including the softphone and magicJack.
CALL delivered solid second quarter results on July 30. Earnings
per share came in at 51 cents, beating the Zacks Consensus Estimate
by a penny. Revenue surged 34% year-over-year to $38.6 million,
beating the consensus of $36.0 million. This was driven by a 68%
increase in the sale of magicJack and magicJack PLUS.
Analysts revised their estimates higher for 2013 following
better-than-expected Q2 2012 results. CALL has been either a Zacks
#1 (Strong Buy) or #2 (Buy) Rank since June 15. It has soared more
than +36% since then.
Other notable top performing Zacks #1 Rank stocks from Tuesday
AAC Technologies Holdings Inc.
), which was up +8.6%,
General Communication Inc.
), which rose +4.6%, and
Ikanos Communications, Inc.
), which gained +4.3%.
To see the full list of Zacks #1 Rank (Strong Buy) stocks
Todd Bunton is the Growth & Income Stock Strategist for
and Editor of the
Income Plus Investor service
MAGICJACK VOCTC (CALL): Free Stock Analysis
JOES JEANS INC (JOEZ): Free Stock Analysis
To read this article on Zacks.com click here.