News Buzz: LeapFrog Enterprises, Inc. (NYSE:LF), Kingold Jewelry Inc (NASDAQ:KGJI), Approach Resources Inc. (NASDAQ:AREX), LDK Solar Co., Ltd (ADR) (NYSE:LDK)
LeapFrog Enterprises, Inc. (NYSE:LF) shares decreased 8.31% to $10.82. The company, on August 1, announced financial results for the second quarter ended June 30, 2013. Second quarter 2013 net sales were $83.0 million, up 16% compared to $71.5 million last year. Net loss (GAAP) for the second quarter was $3.3 million, an improvement of 59% compared to $8.1 million a year ago. Net loss per basic and diluted share (GAAP) was $0.05, an improvement of $0.07, or 58%, compared to $0.12 a year ago.
Kingold Jewelry Inc (NASDAQ:KGJI) shares declined 6.31% to $1.04 in the morning hour. KGJI’s stock was downgraded by analysts at Thomson Reuters/Verus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on July 8. The company is a designer and manufacturer of 24 Karat gold jewelry and Chinese ornaments.
Approach Resources Inc. (NASDAQ:AREX) stock dropped 6.22% to $25.79. The company on August 1 reported results for second quarter 2013. Production for second quarter 2013 totaled 817 MBoe (9 MBoe/d), compared to production of 702 MBoe (7.7 MBoe/d) in second quarter 2012, a 16% increase. Second quarter 2013 production increased 8%, compared to first quarter 2013 production of 754 MBoe (8.4 MBoe/d). Net income for second quarter 2013 was $7.8 million, or $0.20 per diluted share, on revenues of $42.3 million. This compares to net income for second quarter 2012 of $7.9 million, or $0.23 per diluted share, on revenues of $29.9 million.
LDK Solar Co., Ltd (ADR) (NYSE:LDK) shares declined 6.13% to $1.53. The company on July 30 announced that it has appointed two new members to the Company’s Board of Directors, Mr. Michael Nacson and Mr. Kurt Metzger. The two Board members were nominated by the holders of the Company’s 3% Convertible Notes as a condition of the Forbearance Agreement announced on June 28th. The additions bring the total number of board members to nine. Mr. Nacson has more than 25 years of senior management and board-level experience in the Asia-Pacific region and has worked extensively with businesses with distressed debt and undergoing corporate restructuring.