Stocks quoted in this article:
Go2Net (GNET - 58), an operator of a network of Internet sites, reported that its third-quarter sales tripled. The company also announced that it posted earnings of 22 cents per share (excluding amortization of intangibles and stock compensation), besting Street estimates by seven cents per share. In anticipation of this news, the stock rose nearly eight percent in Monday's trading, reaching its top intraday mark since May 1. In pre-market activity this morning, the shares appear poised to gap more than two percent higher at the open. Over just this past week, GNET has added almost 34 percent to its value. Despite this impressive ascent, information from Multex
shows that the equity remains relatively unknown to brokers. There are now only six analysts covering GNET, one of whom rates it as a "hold." Any new positive coverage or an upgrade could give the security a short-term boost. What's more, out-of-the-money call activity on this outperformer has been marginal recently, an encouraging sign in our contrarian view.