Smith Micro, Core Inc. Post Sharp Gains in Trading
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Shares of two Orange County companies racked up some of the largest percentage gains Thursday in U.S. markets.
Smith Micro Software stock surged 35%, or 75 cents a share, to $2.88, after the Aliso Viejo-based provider of communications software announced its VideoLink software will be bundled with a new PC-Camera line that a unit of Panasonic is selling in Europe. The camera and software can be used for video e-mail and video conferencing. Smith Micro also announced another product agreement with a Chinese-English Internet content provider, McGeorge Productions Inc.
The gain was the 15th-largest in U.S. markets. Nearly 1.5 million shares of Smith Micro stock changed hands, compared with average volume of 47,478 over the last three months.
Core Inc. shares climbed 34.8%, the 16th largest gain, after an analyst rated the stock a “strong buy.” The Irvine-based company, a provider of managed disability services, saw its stock gain $2 a share to $7.75 on trading of 368,400 shares. Volume has averaged 17,705 shares a day over the last three months.
The company’s stock could hit $10 a share in a year as its emerging business grows, said analyst Eleanor Kerns at BT Alex. Brown & Sons Inc.
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