CNU

[David Randolph]

Continucare Corporation (CNU). The Group's principal activity is to provide primary health care services on an outpatient basis in Florida, United States.

After a big fall in 1999 CNU spent 5 years accumulating:



Since early 2003 the stock is up trending:



And now it has made a powerful breakout with explosive volume:



There's nothing else a speculator can do but to buy this stock. You buy CNU and ask questions later in my opinion.

I would like that CNU doesn't open with a gap (above the previous day's high, which was $3.10) to buy at the open, but I would buy it anyway ... so that's it, at tomorrow's open I will add CNU to my portfolio.

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David Randolph
www.3stocksonfire.org

[David Randolph]

CNU was going great, just take a second look at its long term chart:



The stock is still on an uptrending parallel channel:



On Friday the news was:

«Continucare Corp. (CNU: news, chart, profile) dropped 27% after the company said it would restate financial results for the fourth quarter of fiscal 2004 and the first two quarters of fiscal 2005 after an error in an automated software system lead to an overstatement of revenue. For the fiscal year ending June 2004, revenue will be reduced to $101.7 million from $102.5 million. For the six months ending December 2004, revenue will be lowered to $53.1 million from $54.3 million. The provider of outpatient care services said it now expects earnings for the third quarter of fiscal 2005 of 2 cents a share, vs. 3 cents in the same period a year ago, and revenue of $29.3 million vs. last year's $25.9 million.»

The stock opened down 27% ! (thank God I wasn't watching  )) But it recovered during the session to close at the high of the day with enormous volume. That's a bullish behavior:



I believe the bad news was not so bad and the recovery from the lows suggests me CNU will pop higher on Monday. But it's my biggest loser and don't like to be holding on to losers. CNU must recover fast or I'll have to sell it.

[David Randolph]

... damaging my performance like that  . It hurts, but I'll put a stop loss @ $2.19.

[David Randolph]

To compose the archive of the closed trades I need to put here the link to the post announcing the sale of CNU at today's open:Selling stocks

[njshiva]

Mulitple threads here.

volume picking up slowly....

Continucare Corporation Reports Financial Results for Second Quarter of Fiscal 2007
BusinessWire - February 08, 2007 7:00 AM ET

Continucare Corporation (AMEX:CNU) today reported financial results for its second quarter of fiscal 2007 and the six months ended December 31, 2006. Financial highlights for the quarter and other recent events include:

-- Introduction of Continucare ValuClinic(TM);

-- Completion of Miami Dade Health Centers acquisition and integration proceeding as planned;

-- Total revenue of $55.4 million, an 89% increase from $29.4 million in the second quarter of fiscal 2006;

-- Income from operations of $2.2 million compared to $2.3 million for the same period last year; and

-- Net income of $1.4 million, or $0.02 per diluted share, as compared to $1.5 million, or $0.03 per diluted share, for the same period a year ago.

Results of operations for the second quarter of fiscal 2007 include approximately $0.1 million of charges relating to the restructuring of the former Miami Dade Health Centers, which we acquired on October 1, 2006. Continucare had previously estimated that restructuring charges would be between $0.5 million and $0.7 million. The lower actual amount is primarily attributable to lower than estimated lease termination costs. Continucare does not expect to incur material restructuring charges related to Miami Dade Health Centers in future periods.

Six-Month Results

For the six-months ended December 31, 2006, total revenue increased 54% to $91.3 million compared to $59.3 million in the same period one year ago. Income from operations during the six-month period was $4.3 million compared to $4.5 million for the same period one year ago. Net income for the six-month period was $2.8 million, or $0.05 per diluted share, compared to $2.9 million, or $0.06 per diluted share, one year earlier.

"Activity is at a high level and we continue to make important advances with our business," said Richard C. Pfenniger, Jr., Continucare's Chairman and Chief Executive Officer. "Our second fiscal quarter revenues increased substantially with a significant portion of the improvement relating to the inclusion within our operations of the recently acquired Miami Dade Health Centers. We are pleased with the integration effort to date. We have completely integrated the management teams, consolidated three facilities - two medical centers and one outpatient diagnostic imaging center - into other existing facilities, and are working diligently to realize other expected efficiencies from the combination, including, in particular, those relating to medical utilization. We continue to believe that the acquisition will be accretive to earnings during the first full year of combined operations.

"Our financial position following the acquisition of Miami Dade Health Centers remains strong and is improving. In connection with the acquisition, we incurred approximately $7.6 million of consolidated net indebtedness and used a significant portion of our available cash. Since the closing, however, we have repaid nearly all of the increased indebtedness and begun replenishing our cash position.

"We are also continuing to prepare for the opening of our first Continucare ValuClinic(TM) health centers. We are making good progress and currently expect to have our first four health centers, which will be located within Sedano's Pharmacy stores in South Florida, opened sometime in the Spring of this year," concluded Mr. Pfenniger.

Balance Sheet

Continucare's cash and cash equivalents were $1.8 million at December 31, 2006 compared to $10.7 million at June 30, 2006, while working capital was $7.4 million at December 31, 2006 compared to $15.6 million at June 30, 2006. Total liabilities were $12.8 million at December 31, 2006 as compared to $4.7 million at June 30, 2006. Shareholders' equity increased to $99.3 million at December 31, 2006 from $37.0 million at June 30, 2006.