Globe says GPS Hemisphere must locate expenses toGlobe says GPS Hemisphere must locate expenses to cut
Ticker Symbol: C:HEM
Globe says GPS Hemisphere must locate expenses to cut
Hemisphere GPS Inc (C:HEM)
Shares Issued 55,561,676
Last Close 11/11/2010 $1.01
Friday November 12 2010 - In the News
The Globe and Mail reports in its Friday, Nov. 12, edition that Contra The Heard Investment Letter president Benj Gallander is keen on Hemisphere GPS. Clea Simos writes in The Globe's BNN Market Call column that Hemisphere GPS stock edged up a penny to finish on the TSX Venture Exchange Thursday at $1.01. Mr. Gallander says: "Hemisphere GPS has just recorded its best third quarter revenues in history. Unfortunately the company continues to lose money, due to high expenses. It is necessary for this outfit to take scissors to expenses to return to previous form. Also, a goodwill writedown would not be a surprise." Mr. Gallander targets the shares at $3 to $4.50. Mr. Gallander targets Cangene shares at $10 to $12. In his general outlook Mr. Gallander says: "Given my uncertainty where markets are going, I am quite content to be well invested, while having cash on the sidelines for cherry-picking opportunities. Certainly the amount of liquidity injected into the system bodes well for markets, but counterbalancing this is the heavy levels of debt throughout the system, from consumers to government. This will constrain the ability to invest in North American markets."
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