Joe's Jeans Inc. (JOEZ) & magicJack VocalTec (CALL) - Zacks #1 Rank Top Performers

By Todd Bunton,

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It was a quiet day on Wall Street Tuesday, but there were several Zacks #1 Rank (Strong Buy) stocks making some noise.

And Joe's Jeans Inc. ( JOEZ ) was one of the loudest, with shares surging +8.6% on heavy volume.

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 July 18.

magicJack VocalTec Ltd. ( CALL ) 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 include: AAC Technologies Holdings Inc. ( AACAY ), which was up +8.6%, General Communication Inc. ( GNCMA ), which rose +4.6%, and Ikanos Communications, Inc. ( IKAN ), which gained +4.3%.

To see the full list of Zacks #1 Rank (Strong Buy) stocks click here.

Todd Bunton is the Growth & Income Stock Strategist for Zacks Investment Research and Editor of the Income Plus Investor service .

MAGICJACK VOCTC (CALL): Free Stock Analysis Report
JOES JEANS INC (JOEZ): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: CALL , JOEZ

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