NVMI Has Blow Out Earnings
Always nice to start off on the right foot as my first earnings of the week were very strong for NVMI (Nova Announces 2010 Fourth Quarter and Full Year Results). The stock went up 8% yesterday and is now up 86% since I bought them a quarter plus ago (recall I bought the about 3 days before their previous earnings call). They eraned 28 cents a share and guided evn higher for next quarter. So even at $11, they are not much more than 10x earnings and they have about 2.50 a share in cash. Yes I am feeling good about this stock.
I felt my ranking methodology was vindicated yesterday. The MFI site had not updated its stock list since February 8th, yet over the weekend I mentioned that my ranking had VNCE as new to the list. Sure enough, the MFI site started working again yesterday, and VNCE was new to the list. Attaboy!