WISCONSIN (CoinChapter.com) — Wednesday’s trading on Wall Street saw a stock decline. The S&P 500 dropped 0.5%, with slightly more index companies losing ground than advancing. The Dow Jones Industrial Average was down 0.2%, and NASDAQ prices dropped 0.9%.
Here are the five best stock market gainers:
iCoreConnect Inc. (NASDAQ: ICCT)
iCoreConnect Inc. (NASDAQ: ICCT), a cloud-based software and technology company, announced the release of its new version of the HIPAA email product, iCoreExchange V6.0. With its enterprise and healthcare workflow platform, this enhanced solution aims to augment workflow productivity and customer profitability.
The latest version boasts a modern and intuitive user interface, Google Chrome notifications, simplified Two-Factor Authentication (2FA), and a new Compose window for rapid email composition. Shares were up over 40% on the news today.
AeroVironment Inc. (NASDAQ: AVAV)
The Schall Law Firm, a shareholder rights litigation firm, notifies investors of a class action lawsuit filed against AeroVironment Inc. (NASDAQ: AVAV). The lawsuit alleges that the company provided false and misleading statements to the market.
Despite AeroVironment’s claims of actively monitoring supply chain issues and having a strong growth basis due to its backlog, the company later altered its guidance.
This adjustment was attributed to supply chain delays, extended procurement cycles triggered by the global COVID-19 pandemic, and slower decision-making processes in Washington. Although the news is negative, shareholder confidence was bolstered, sending shares 27.55% higher.
Gogo Inc. (NASDAQ: GOGO)
Gogo Inc. (NASDAQ: GOGO), the leading provider of broadband connectivity services in the business aviation sector, has announced a share repurchase program. The Board of Directors has granted the Company the authority to repurchase up to $50 million of its common stock.
This move aligns with Gogo’s long-term capital allocation priorities, which include maintaining sufficient liquidity, investing in strategic initiatives yielding high returns, managing an optimal level of debt with a net leverage ratio target of 2.5x – 3.5x, and returning capital to shareholders.
NextGen Healthcare Inc. (NASDAQ: NXGN)
Private equity firm Thoma Bravo has agreed to take NextGen Healthcare Inc. (NASDAQ: NXGN) private for $1.61 billion, reflecting the continued interest in the robust healthcare sector by PE firms.
The agreement, announced on Wednesday, will see Thoma Bravo paying NextGen shareholders $23.95 per share, a substantial premium on the original share price.
This move follows a strategic review by NextGen, reported in August, which included contemplation of a potential sale. The news of the agreement led to a significant increase in NextGen’s shares, up 14.45% to $23.52.
Mitek Systems Inc. (NASDAQ: MITK)
Mitek Systems Inc. (NASDAQ: MITK) has posted a robust financial performance for the fiscal first quarter of 2023. The company reported a year-over-year increase in total revenue by 41%, a record-setting $45.7 million, underpinned by a significant multi-year mobile deposit contract.
This impressive figure underscores Mitek’s dominant position in the market, with “Mitek Delivers Record Revenue, Up 41% Year Over Year” becoming a defining statement for this period.
The company also reported a GAAP net income of $4.7 million, non-GAAP net income of $14.3 million, and operational cash flow of $5.3 million. As of December 31, 2022, Mitek’s total cash and investments stood at $107.6 million.
