In fact, from the beginning of October through the first week of November, 40 of the LT 50 companies (80%) posted gains in their share prices. And 28 of those companies had double-digit growth over that five-week period.
Leading the way in terms of percentage gain (20.2%) is Symbol Technologies Inc., which posted the highest quarterly revenue ($442.7 million) in its history, with third-quarter net earnings of $21.1 million. Although Symbol's recent acquisition of RFID chip maker Matrics Inc. had a negative impact on earnings, Wall Street clearly sees the Symbol/Matrics merger in positive terms.
Supply chain execution solution vendor Manhattan Associates Inc. had the biggest percentage drop (-9.2%) in share price. Wall Street reacted negatively when Manhattan's third-quarter earnings came lower than expected; analysts were looking for $60 million in earnings, but Manhattan posted only $51.8 million, blaming the shortfall on customers delaying software purchases.
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