Albany, New York (09/26/2014) – ARC Document Solutions Inc (NYSE:ARC) keeps flowing in the right direction. The share price was up more than 12% in the early afternoon Friday, but is up more than 28% over the past 90 days. What is the story behind the stock to explain the newfound strength? To begin with, analysts at Lake Street Capital recently assumed coverage of the stock with a bullish outlook. They gave the stock a “buy” recommendation and issued a target price of $11, which suggests almost 60% potential uptick. ARC Document (ARC) also recently announced a 10-year deal with China Architecture Design and Research Group (CAG). The deal involves providing the firm with its MetaPrint software. The company also recently reaffirmed its fiscal 2014 EPS expectation. It expects EPS in the band of $0.19-$0.23, which compares with the estimate of $0.23. Finally, ARC Document Solutions Inc (NYSE:ARC) had an interesting quarter in its 2Q2014, it earned $0.10 per share, ahead of the estimate of $0.08. Revenue was up 4.2% YoY to $109 million, but short of the estimate at $109.18 million. With all these highlights, things appear to be moving in the right direction for ARC Document Solutions Inc (NYSE:ARC), which explains the excitement around it.
Chinanet Online Holdings Inc (NASDAQ:CNET)’s more than 27% gain early Friday afternoon has been explained. The company filed 8K with the Securities and Exchange Commission (SEC) in which it formally disclosed a partnership with Alibaba Group Holding (BABA). The company announced a relationship with Alibaba’s Taobao unit. The partnership is geared towards strengthening Chinanet Online Holdings Inc (NASDAQ:CNET)’s digital marketing business. The company also announced cooperation with Baidu, China’s largest search provider.
Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA), fondly known as Fannie Mae, together with its sibling Freddie Mac, reportedly guaranteed $6 billion in older mortgages for the Bank of America Corp. (NYSE:BAC). Analysts cited that seeking the mortgage backing of Fannie Mae and Freddie Mac helped the bank to comply with the tight regulations in the banking sector. Shares of Fannie Mae are down more than 24% in the past 90 days. They have also been volatile recently, which means investment in the government-sponsored mortgage institution requires due diligence before making a big move.