Stock Market Champs..........9-12-06

FortuNet, Inc (FNET)

Last Trade:	15.869
Trade Time:	3:56PM ET
Change:	5.969 (60.29%)

FortuNet Continues Climb After Nevada State Gaming Control Board OKs Mobile Gambling

Shares of FortuNet Inc., which makes wireless gaming machines for casinos, soared in afternoon trading on Tuesday after Nevada's Gaming Control Board said the company could compete in an up-and-coming market for mobile gambling devices.

The news sent the stock up for the third day in a row. Shares have risen 43 percent since Thursday, when the Las Vegas-based company announced the approval. In afternoon trading Tuesday, the stock rose $3.66, or 37 percent, to $13.56 on the Nasdaq. Volume of about 1.8 million shares was more than 10 times the daily average of 136,486 shares.

"I'm not surprised the stock is moving up," said WR Hambrecht & Co. analyst John Roy, encouraged by the approval. The analyst rates the stock "Buy" with a $30 price target.

On Sept. 21, members of the Nevada Gaming Commission will follow up on the approval from the state Gaming Control Board and vote on whether FortuNet can operate its wireless gambling gadgets in public areas of the state's casino resorts.

Regulations were passed in March that made Nevada the first state to allow wireless gambling in any public area of a casino, including restaurants, lounges and poolsides. Roy suspects that other states, like New Jersey, aren't far behind.

"The feeling is that once Nevada has a handle on how to do it, other states will follow," Roy said.

Meanwhile, FortuNet is adapting its wireless gambling device to play other games in addition to bingo, like poker and blackjack. The device will also need to get approval from regulators before it can be sold.

The company, which had its initial public offering in January, has said it isn't sure when the devices will meet technical regulations or be ready for trial.

But Roy expects sales of the device to begin as soon as the first quarter, which he said will "immensely" drive growth. Roy predicts $38 million in sales from the wireless device in fiscal 2007.

Opsware Inc. (OPSW)

Last Trade:	8.18
Trade Time:	3:56PM ET
Change:	0.99 (13.77%)

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Last Trade:	12.50
Trade Time:	3:51PM ET
Change:	1.56 (14.26%)