Diamonds and Dogs
3/26/13Reeds Inc. (REED)
Reeds lost its fizz today down, 6.38% at $4.26. The non-alcoholic beverage company saw its shares go flat after releasing its 2012 full year earnings. Reeds showed some improvement with revenues increasing 20% to $30 million. However, the company was still unable to turn a profit and ultimately announced a net loss of $524,000 for the year. Reeds CFO James Linesch said, "Our fourth quarter losses were primarily due to continued production challenges on our kombucha, resulting in higher unallocated plant costs, and to lighter than expected private label revenues from one customer." Reeds has fallen from its 52-week high of $8.82.
Bovie Medical Corp. (BVX)
Bovie Medical is trading in the green today, up 27.60% at $3.56. The medical product and device company saw its shares skyrocket after news of its newest device, J-Plasma. J-Plasma utilizes a gas ionization process producing a stable thin beam of ionized gas emitted from the J-Plasma hand piece that can be controlled in a wide range of temperatures and intensities, providing the surgeon great precision, minimal invasiveness and an absence of conductive currents during surgery. J-Plasma has continued to receive unparalleled support from influential surgeons across the country. Bovie Medical shares traded up near their 52-week high of $3.83.
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