Every public company loves to put out good news and see the reflection in its stock price. The following three companies released positive news of some kind either this morning or late yesterday and have seen their stock prices soar so far today.Shares of Graham Corp. (AMEX: GHM) were up $3.82, or 21 percent, to $22.00 on volume of 171,500 this morning as the company announced record fourth-quarter earnings and 2007 year-end backlog. The company announced its fourth-quarter sales were $20.8 million, a 31 percent increase from $15.9 million in the fourth quarter the year before. Fiscal 2007 sales increased to $65.8 million as compared to $55.2 million in fiscal 2006. Graham reported net income for fiscal 2007 at $5.8 million, up from $1.0 million the prior year; and a backlog of $54.2 million and orders of $27.3 million in the fourth quarter.
Shine Holdings Inc. (Pink Sheets: SHDG) shares jumped 86 percent this morning, up 30 cents to 65 cents on volume of 5,400. The company announced today it has signed a letter of intent to enter into an agreement to license its Biochemical Defense System to U.S. Biodefense Inc. Per the agreement, U.S. Biodefense will secure an exclusive licensing agreement for an annual fee of $100,000.
Ingen Technologies Inc. (Pink Sheets: IGTG) shares rose 100 percent in early morning trading, up 3 cents to 6 cents on volume of 81,500. The medical device manufacturer announced today its new product, OxyView, has been registered and classified by the U.S. Food and Drug Administration (FDA). The company has also finalized all required SEC filings, bringing it up-to-date and compliant with periodic reporting obligations.
