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Cobra Oil & Gas Company (OTCBB: CGCA) $1.05. Announced Monday that an updated research report has been issued on Cobra Oil & Gas Co. by Cohen Independent Research Group, Wall Street’s leading independent research firm, building off of July 21, 2009’s initial report. The latest report includes Cobra’s expansion of its Utah Oil Sands prospect and the addition of additional acreage, equating to a long-term price target of $4.42.
What They Do: Cobra Oil & Gas is an independent oil and gas exploration and development company. The Company’s focus is to identify short and long term oil and gas opportunities with twin goals of reducing the country’s dependence on foreign oil and increasing shareholder value.
In July 2009, CGCA finalized an agreement to purchase a 40% working interest in the Utah Oil Sands Project in Uintah County, Utah from Enercor, Inc. These leases comprise 33,632 acres in entirety, 23 federal leases and approximately 15% of the entire P.R. Spring oil sand deposit. It is estimated the P.R. Spring deposit contains 4.0 to 4.5 billion barrels of oil on Cobra's leases, according to the US Bureau of Mines.
Science Applications International Corporation (NYSE: SAI) $18.20. Announced Tuesday after market that it has been awarded a prime contract by the Department of Homeland Security, Federal Emergency Management Agency (FEMA) to provide operations and maintenance support to FEMA's chief information officer and Information Technology Division (ITD). The multiple award, indefinite-delivery/indefinite-quantity contract has a one year base period of performance, four one-year options and a $500 million contract ceiling for all awardees. Work will be performed primarily in the National Capital Region.
What They Do: SAIC is a FORTUNE 500 scientific, engineering and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health.
VeriFone Holdings (NYSE: PAY) Announced Tuesday after market close financial results for the three months ended July 31, 2009.
Net revenues for the three months ended July 31, 2009, were $211.2 million, compared to $201.6 million of net revenues in the previous quarter, and $258.7 million for the comparable period of 2008. GAAP net income per share for the three months ended July 31, 2009, was $0.26 per diluted share, compared to $0.22 in the prior quarter and a loss of ($0.09) per diluted share, for the comparable period of fiscal 2008.
What They Do: VeriFone Holdings is the global leader in secure electronic payment solutions.
Tier Technologies (Nasdaq: TIER) $7.64. Today announced that its Board of Directors has authorized an increase from $15 million to $20 million for repurchase of the company's common stock from time to time in the open market.
Commenting on the adjusted stock repurchase program, Ronald L. Rossetti, Chairman and Chief Executive Officer of Tier, said “We continue to believe that the repurchase of our shares represents an excellent long-term investment and that this action demonstrates our ongoing commitment to enhancing shareholder value."
What They Do: Tier Technologies, Inc. primarily provides federal, state and local government and other public sector clients with electronic payment processing and other transaction processing services.
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