Friday, December 21, 2007

Turbochef Technologies (OVEN)

recently reported TURBO CHARGED EARNINGS The maker of fast cook ovens has been a target of short sellers for a while but with the stock poised for a breakout, those shorts appear to be pressing their luck. I am looking for the stock to make a run for the 20 dollar level and I am long the January 17.50 calls. I think a reasonable stop is near 15.50.

TurboChef Technologies, Inc. (TurboChef) provides equipment, technology and services focused on the high-speed preparation of food products. The Company has three primary commercial oven models: C3, Tornado and High h Batch ovens. The Company’s speed cook ovens employ combinations of heating technologies, such as convection, air impingement, microwave energy and other advanced methods, to cook food products at speeds up to 12 times faster than conventional heating methods. In addition to its primary products and services, TurboChef offers certain consumables related to its ovens, such as ceramic platters, cooking utensils and oven cleaners, and replacement parts for its ovens, in each case to support its customers’ use of its ovens. The Company’s commercial ovens are used by a diverse base of foodservice operators, including quick-service and full-service restaurants, hotels, stadiums, coffee shops and convenience stores.