NEW YORK ( TheStreet) -TheStreet Ratings' stock model upgraded Globecomm Systems (GCOM) to 'Buy' from 'Hold'. Net income at this $180 million market cap, satellite communications infrastructure company showed a four-fold increase to $4 million in fiscal fourth quarter over the same quarter last year.
TheStreet Ratings released rating changes on 13 additional U.S. common stocks for September 29, 2010. In total, four stocks were downgraded and 10 stocks have been upgraded by our stock model.
Fiscal fourth revenue at Globecomm Systems jumped by 42.7% to $70.3 million over the prior fourth quarter. On Monday September 27, the company announced the award of $4 million in U.S. Government Agency contracts for its software and engineering support services. Learn more about Globecomm Systems: Company Profile, Income Statement, Balance Sheet, Stock Ratios, Analyst Ratings.
Heading in the other direction, shares of Palatin Technologies (PTN - Get Report) were downgraded to 'Sell' from 'Hold'. Fiscal fourth quarter net loss increased to $4.2 million versus a loss of $200 thousand in the year ago quarter. Over the same period, revenue dropped by 87% to $680 thousand. Pharmaceutical research companies such as Palatin can be notoriously bad investments for years unless they get lucky in discovering a blockbuster drug therapy. The company recently announced a 1-for-10 reverse stock split and layoffs that will force the discontinuation of some new compound discovery activities. Learn more about Palatin Technologies: Company Profile, Income Statement, Balance Sheet, Stock Ratios, Analyst Ratings.-- Reported by Kevin Baker in Jupiter, Fla.
For additional Investment Research check out our Ratings Research Center.