Rochester, NY 7/7/2009 5:01:39 AM
After Market Report - MRCY - Highest Points Since 2008 for Mercury Computer Systems - Sourced WhisperFromWallStreet.com
Mercury Computer Systems, Inc.
After Market Report - MRCY - Highest Points Since 2008 for Mercury Computer Systems - Sourced WhisperFromWallStreet.com
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Mercury Computer Systems,MRCY
Mercury Computer Systems Inc. (MRCY) stock hit its highest point in nearly a year and a half on Monday, climbing 15% though there appeared to be no fundamental news behind the sharp gains. Mercury makes computer systems and software used in image, signal and sensor processing by a variety of industries. Its products range from radar for defense contractors and aerospace companies to software products used to process images. The company has been in the midst of a restructuring, selling its imaging business and its 3D visualization tools business to focus on defense and aerospace. William Blair analyst Jonathan Ho said that restructuring has been positive, and that some of Monday's move may be institutional investors starting to get involved in the company now that much of the plan is complete. He said there was no immediate reason to buy the stock Monday, but believes there is future opportunity in Mercury's shares. Mercury shares climbed 15% to $10.40 in recent trading after hitting a high of $10.48 earlier, their highest point since January 2008. The stock had tumbled to as low as $2.21 last December, but has risen more than 64% so far this year. More than 93,000 shares had changed hands Monday morning, which is more than three-quarters its 30-day average volume of trades.
About
Mercury Computer Systems, Inc. engages in the design, manufacture, and marketing of high-performance computer signal and image processing systems and software for embedded and other specialized computing markets. It has three segments: Advanced Computer Systems (ACS), Visage Imaging (Visage), and Emerging Businesses Unit (EBU). ACS segment provides high-performance embedded computer systems to the defense, semiconductor, telecommunications, and life sciences markets by using commercial off-the-shelf and selected rugged components. It also offers simulation software and customized design services to meet the requirements of military and commercial applications. Visage segment develops and distributes visualization and picture archival and communications system solutions and other three dimensional software solutions for the life sciences market.
Last Trade: 10.39
Day's Range: 9.35 - 10.48
52wk Range: 2.21 - 10.19
Volume: 237,567
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