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Two Good Growth Stocks in a Dicey Market
08/09/2007 12:00 am EST
James Oberweis, president of Oberweis Asset Management, finds two companies he thinks can continue their brisk growth even in the current volatile environment.
Thankfully we drank our champagne quickly!
Dow 14,000 is now in the past. One week later and 700 points lower, it looks more like Dow 13,000 than anything else.
But don’t get all depressed on us: valuations for US companies, relative to the rest of the world, are cheaper than we have seen in a while. Emerging markets stand ready to take the first beating, as investors switch sides faster than teenagers change boyfriends.
The good news for US companies is that the dollar isn’t what it used to be. The dollar’s decline makes US products materially cheaper for the rest of the world, which should ignite exports in the months to come. (There are already signs of exports’ revival, as we wrote here—Editor.)
An increase in exports will partially offset a slowdown in consumer spending. But will it be enough? Probably not. Get ready for a bumpy ride as the market digests tighter credit, unfavorable future economic policy, and limited options for fighting inflation.
[Here are two growth stocks that should do well]:
Amerigroup (NYSE:AGP) is a multistate managed health-care company focused on serving people who receive health care benefits through publicly sponsored programs, including Medicaid, FamilyCare, and Special Needs Plans (SNP). Amerigroup has more than 1.3 million members in Florida, Georgia, Maryland, New Jersey, New York, Ohio, Texas, and Virginia. Its network is composed of more than 13,000 primary care physicians, 50,000 specialists, 500 hospitals, and 7,300 ancillary providers.
In the company’s latest reported second quarter, sales increased approximately 56% to [around] $1 billion from $642.4 million in last year’s second quarter. Amerigroup reported earnings of 61 cents per share in the latest reported second quarter, versus 29 cents in the same quarter of last year. (The stock closed above $27 Wednesday—Editor.)
Synchronoss Technologies (NASDAQ: SNCR) is the leading provider of on-demand transaction management solutions to communication service providers (CSPs). The company’s proprietary ConvergenceNow software platform automates, synchronizes, and simplifies electronic service creation and the management of advanced services across new and existing interconnected networks.
The company’s ActivationNow platform was recently chosen to provide transaction order management for the activation of new Apple iPhones. End users, the consumers purchasing the phones and subscribing, can activate or deactivate services from their own home, without a visit to a retail store.
In the company’s latest reported second quarter, sales increased approximately 80% to $31.3 million from $17.4 million in the second quarter of last year. Synchronoss Technologies reported earnings of 17 cents per share in the latest reported second quarter, versus five cents in the same quarter last year. (The stock closed above $36 Wednesday.)
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