Courtesy of Benzinga.
Cadiz (NASDAQ: CDZI): Cadiz is a company that engages in the acquisition and development of land and water resources in the U.S. The company traded up on Wednesday after the company announced that the Santa Margarita Water District Board of Directors approved the Final Environmental Impact Report for the Cadiz Valley Water Project. The project will provide new and reliable water to about 100,000 southern California homes. The water will come from ground aquifers that would otherwise be eliminated by evaporation.
President and General Council of Cadiz Scott Slater stated, “As a longtime desert business, we are committed to the protection of desert resources and implementing a safe and sustainable project. We look forward to working with our neighbors as we enter the next phase of the Project and further develop our legacy commitments to the area, including land conservation easements, habitat protection and a steam train and cultural center.”
Cadiz traded up about 48 percent on Wednesday.
Silicon Image (NASDAQ: SIMG): Silicon Image provides wireless and wired connectivity solutions for high-definition technology. Silicon Image reported second quarter earnings that beat analyst estimates on earnings and revenues. Revenue for the second quarter was $68.8 million, compared to $53.6 million in the second quarter of 2011. The net loss was $0.9 million, in comparison to a net loss of $1.3 million in the same period last year.
Chief Executive Officer of Silicon Image Camillo Martino stated, “We are pleased to have achieved results better than our prior guidance in all categories, with mobile continuing to be the main revenue driver. Since we first started volume production of MHL-enabled products in early 2011, we have already shipped over 100 million units to our mobile customers.”
Silicon Image traded up about 28 percent on Wednesday.
ReachLocal (NASDAQ: RLOC): ReachLocal is an online marketing and solutions company to small and medium sized businesses. On Tuesday, the company reported second quarter earnings that beat analyst estimates on earnings and revenue. The company reported earnings of $0.12 per share and revenue of $112 million. Analyst’s average estimates were earnings of -$0.02 and revenue of $109.4 million. The company also raised its outlook for its full year revenue outlook from a range of $439 million to $454 million, to a range of $445 million to $454 million.
CEO Zorik Gordon stated, “Looking ahead to the second half of 2012 we intend to expand our global footprint, both in terms of entering new markets and expanding our salesforce in existing foreign markets to further leverage the solid productivity trends of our international IMCs. We also plan to introduce new products in the areas of online advertising, mobile and local commerce in the second half of 2012.”
ReachLocal traded up about 13 percent on Wednesday.
