Corporate Webpages Cerner Corporation
By "e-hospitals," we don't mean the accepted definition of on-line diagnostic websites.
Rather, we mean hospitals which are electronically up-to-date with efficient
medical records systems, billing procedures, and the like. This is one of the
cornerstones of proposed improvements to reduce costs in healthcare reform.
Cerner Corp. might be classified as in the healthcare industry
or in the software industry, but more appropriately is in the
medical information systems group. As such it awaits
improvements in efficiencies in America's healthcare system, as
well as those of other countries like Britain, Australia, and
Saudi Arabia, as it operates in 5 continents. It eagerly awaits
stimulus money as well as healthcare reform upon which optimism is based
for the stock.
It has a relatively-high p/e for this period but the stock
appears stable. Market Grader and Street.Com are two research
services in which we place confidence to make selections, but
they use very different methodologies. It is therefore often
hard to come up with a company that both like, for usually one
likes one company while the other dislikes it. It the case of
Cerner, both research organizations like the stock, which is how
we picked this particular one to review. It is in a strong
industry group. We feel the CEO is getting too many stock
option perquisites, but the balance sheet is strong.
The company is based in Kansas, City, MO., and provides a lot of
employment in that region. It was founded in 1979, and has many
hospital, HMO, physician group, pharmacy and health clinic clients.
It competes against the giant GE Healthcare, which was once
thought to be attempting to take over Cerner. It had a few
glitches along the way, like in 1998 when the FDA criticized the
company by stating it should not rely on the customer for finding
errors in its software.
In 2003, due to increased competition, the company's clients
delayed or canceled purchases and its sales force was
reorganized with negative effect. A bunch of shareholder class
action lawsuits then charged the company with failure to
disclose this, as it announced first quarter revenues would be
"below expectations."
The company got involved with the internet in providing
technical assistance to doctors in patients through information
provided over the internet, and was criticized for having
virtual health services inadequate to replace the live doctor.
Revenues crossed the $1 billion mark in 2004, and the company has
continued to grow and expand since then.
09/16/2009: Cerner Corporation (CERN): Provides e-Hospitals with Medical Records and Financial Systems
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
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Comparison with Peers
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Research Reports
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Stock Report
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Zenith Index |
Cerner Corp. (CERN ) Sector: Technology
2800 Rockcreek Parkway Industry: Healthcare Information Servic
North Kansas City, MO 64117 Exchange: Nasdaq
Cerner Corporation provides healthcare information technology
solutions, healthcare devices, and related services in the Americas,
Europe, the Middle East, and the Asia Pacific region. It offers
Cerner Millennium architecture, which provides access to an
individual-Ęs electronic medical record at the point of care, and
organizes and delivers information for physicians, nurses,
laboratory technicians, pharmacists, front and back-office
professionals, and consumers. The company also provides CareAware
device architecture that connects information from various devices
to the clinician workflow and electronic medical record. In
addition, Cerner Corporation offers Bedrock technology that
automates the implementation and management of the Cerner Millennium
information platform; CernerWorks managed services to manage
technology risks for clients through remote hosting; and Lights On
Network, a surveillance system that identifies system performance
issues in real time. Further, it provides HealtheSM, a health plan
third party administrator service; RxStation medication dispensing
devices; Millennium Lighthouse, a consulting practice that works
with clients to discover relationships among healthcare processes
and still images into electronic medical records. Additionally, the
company offers remote hosting, operational management services, and
disaster recovery services. It serves integrated delivery networks,
physician groups, managed care organizations, hospitals, medical
centers, reference laboratories, home health agencies, blood banks,
imaging centers, pharmacies, government agencies, and public health
organizations. The company was founded in 1979 and is headquartered
Last Trade: 67.41 52-Week Range: 67.50 - 30.37
Trade Date: 09-14 Avg. Volume: 932,574 Shares
Index Membership: S&P 400 MidCap Employees: 7,500
Corporate Governance:
Cerner Corp.'s Corporate Governance Quotient (CGQ-«) as of 1-Aug-09
is better than 31.8% of S&P 400 companies and 75.7% of Health Care
Equipment & Services companies.
EPS: 2.42 Dividend Amount: $ 0.00 Yield: 0.00%
Ex-Dividend Date: N/A Mkt Cap: $ 5,470,000K
Payout Ratio: 0.00%
Last Split Factor (new for old): 2:1 Split Date: 10-Jan-06
Key Statistics:
Enterprise Value: $ 5,180,000K Revenue (ttm) : $ 1,680,000K
Gross Profit: $ 1,380,000K
Earnings before Income Tax, Depreciation and Amortization: $ 420,850K
Enterprise Value/Revenue (ttm): 3.08 Revenue per Share: $ 20.91
Enterprise Value/EBITDA (ttm): 12.32 Qtrly Rev Growth (y to y): 0.20%
P/E Ratio (fwd projected): 23.83 P/E Ratio (current): 27.93
P/E Growth Ratio (5 yr expected): 1.63 Operating Margin: 17.65%
Price/Sales Ratio: 3.22 Profit Margin: 11.94%
Price/Book Value: 3.79 Book Value: $ 17.62/sh.
Return on Assets: 9.89% Net Income Avl to Common: $ 201,130K
Return on Equity: 15.17% Diluted Earnings/Share: $ 2.42
Qrtly Earnings Growth (yoy): 24.00%
Balance Sheet Items : Cash Flow Items (ttm):
(most recent qrtr) (trailing 12 mo.)
Total Cash: $ 384,100K Operating Cash Flow:$ 311,560K
Total Debt: $ 148,420K Lvgd Free Cash Flow:$ 90,000K
Total Debt/Equity: 0.00
Total Cash/Share: $ 4.74
Current Ratio: 3.09
Share Statistics: Stock Price History:
Shares Outstanding: 81,040K Stk 52-Week Change: 43.28%
Float: 69,540K S&P 500 52-Wk Chng: -16.69%
Sh. Short % of Float: 16.00% 50-Day Moving Avg: 64.13
Short Ratio: 16.10 200-Day Moving Avg: 54.69
% Held by Institutions: 88.40% Beta: 0.97
% Held by Insiders: 16.18%
Analysts' Estimates: Cur. Qtr Next Qtr Cur. Year Next Year
___________________________ Sep-09 Dec-09 Dec-09 Dec-10
Average Earnings Estimate 0.61 0.74 2.42 2.83
Average Revenue Estimate 421M 472M 1,690M 1,860M
Factors Comparing This Company to Its Industry Leader (1.0 = Average):
Long Term EPS Growth Rate (5 yr): 0.780 EPS Growth (Qrtly YoY): 0.405
PEG Ratio (ttm, 5 yr expected): 0.143 P/E Ratio (ttm): 0.306
Revenue Growth (Qrtly YoY): 0.003
Annual Income Statements: All numbers in thousands)
Period Ending 3-Jan-09 29-Dec-07 30-Dec-06
Total Revenue 1,676,028 1,519,877 1,378,038
Cost of Revenue 296,063 938,066 869,020
Gross Profit 1,379,965 581,811 509,018
Operating Expenses:
Research & Development 272,519 270,576 246,970
Selling, General & Administrative 828,561 107,152 95,881
Non-Recurring Expenses 0 0 0
Other Operating Expenses 0 0 0
Total Operating Expenses 0 0 0
Operating Income or Loss 278,885 204,083 166,167
Income from Continuing Operations:
Total Other Income/Expenses Net 13,094 -116 13,951
Earnings Before Interest & Taxes 291,979 203,967 180,118
Interest Expense 10,548 0 12,574
Income Before Taxes 281,431 203,967 167,544
Income Tax Expense 92,773 76,842 57,653
Minority Interest 0 0 0
Net Income from Continuing Op.s 188,658 127,125 109,891
Non-recurring Events:
Discontinued Operations 0 0 0
Extraordinary Items 0 0 0
Effect of Accounting Changes 0 0 0
Other Items 0 0 0
Net Income 188,658 127,125 109,891
Preferred Stock & Other Adjustmnts 0 0 0
Net Income Avail To Common Shares 188,658 127,125 109,891
Quarterly Income Statements: All numbers in thousands)
Period Ending 4-Jul-09 4-Apr-09 3-Jan-09 27-Sep-08
Total Revenue 403,806 392,322 465,735 422,728
Cost of Revenue 66,889 65,531 87,585 72,318
Gross Profit 336,917 326,791 378,150 350,410
Operating Expenses:
Research & Development 36,211 64,736 106,996 54,894
Selling, General & Adminis. 205,671 200,075 207,329 214,568
Non-Recurring Expenses 0 0 0 0
Other Operating Expenses 28,879 0 -37,622 13,197
Total Operating Expenses 0 0 0 0
Operating Income or Loss 66,156 61,980 101,447 67,751
Income from Continuing Operations:
Total Other Income/Expenses Net 213 204 11,567 207
Earnings Before Int. & Taxes 66,369 62,184 113,014 67,958
Interest Expense 146 321 10,548 0
Income Before Taxes 66,223 61,863 102,466 67,958
Income Tax Expense 22,478 21,033 30,926 22,944
Minority Interest 0 0 0 0
Net Income from Continuing Op.s 43,745 40,830 71,540 45,014
Non-recurring Events:
Discontinued Operations 0 0 0 0
Extraordinary Items 0 0 0 0
Effect of Accounting Changes 0 0 0 0
Other Items 0 0 0 0
Net Income 43,745 40,830 71,540 45,014
Preferred Stock & Other Adj.s 0 0 0 0
Net Income Avail To Common Shs 43,745 40,830 71,540 45,014
Annual Balance Sheets: All Numbers in Thousands
Period Ending 3-Jan-09 29-Dec-07 30-Dec-06
Current Assets:
Cash & Cash Equivalents 270,494 182,914 162,545
Short Term Investments 38,400 161,600 146,239
Net Receivables 470,330 401,428 363,847
Inventory 10,096 10,744 18,084
Other Current Assets 69,553 61,878 55,272
Total Current Assets 858,873 818,564 745,987
Long-Term Investments 105,300 0 0
Property, Plant & Equipt 483,399 462,839 357,942
Goodwill 146,666 143,924 128,819
Intangible Assets 270,736 247,234 242,216
Accumulated Amortization 0 0 0
Other Assets 16,014 17,395 16,426
Deferred Long Term Asset Charges 0 0 0
Total Assets 1,880,988 1,689,956 1,491,390
Current Liabilities:
Accounts Payable 203,553 175,061 187,390
Short/Current Long Term Debt 30,116 14,260 20,242
Other Current Liabilities 107,554 98,802 93,699
Total Current Liabilities 341,223 288,123 301,331
Long Term Debt 111,370 177,606 187,391
Other Liabilities 0 0 0
Deferred LT Liability Charges 116,100 90,513 83,250
Minority Interest 1,286 1,286 1,286
Negative Goodwill 0 0 0
Total Liabilities 569,979 557,528 573,258
Stockholder Equity:
Misc. Stocks Options Warrants 0 0 0
Redeemable Perferred Stock 0 0 0
Preferred Stock 0 0 0
Common Stock 810 801 784
Retained Earnings 860,098 671,440 540,153
Treasury Stock -28,002 0 0
Capital Surplus 491,080 451,876 376,595
Other Stockholder Equity -12,977 8,311 600
Total Stockholder Equity 1,311,009 1,132,428 918,132
Net Tangible Assets 893,607 741,270 547,097
Quarterly Balance Sheets: All Numbers in Thousands
Period Ending 4-Jul-09 4-Apr-09 3-Jan-09 27-Sep-08
Current Assets:
Cash & Cash Equivalents 353,918 325,180 270,494 182,258
Short Term Investments 30,177 21,816 38,400 115,012
Net Receivables 450,349 442,524 470,330 439,934
Inventory 12,594 12,595 10,096 11,368
Other Current Assets 90,463 74,297 69,553 71,986
Total Current Assets 937,501 876,412 858,873 820,558
Long-Term Investments 99,150 99,600 105,300 101,738
Property, Plant & Equipt 501,066 498,258 483,399 472,655
Goodwill 149,251 148,637 146,666 146,534
Intangible Assets 272,739 270,548 270,736 269,003
Accumulated Amortization 0 0 0 0
Other Assets 15,184 15,495 16,014 16,436
Deferred LT Asset Charges 111,935 110,245 107,554 118,854
Total Assets 1,974,891 1,908,950 1,880,988 1,826,924
Current Liabilities:
Accounts Payable 166,367 179,590 203,553 161,059
Current Portion LT Debt 25,477 30,290 30,116 13,814
Other Current Liabilities 0 0 0 0
Total Current Liabilities 303,779 320,125 341,223 293,727
Long Term Debt 122,945 114,359 111,370 159,985
Other Liabilities 0 0 0 0
Deferred LT Liab. Charges 119,914 118,745 116,100 105,428
Minority Interest 0 0 1,286 1,286
Negative Goodwill 0 0 0 0
Total Liabilities 546,638 553,229 569,979 560,426
Stockholder Equity:
Misc. Options, WarrantS 0 0 0 0
Redeemable Perferred Stock 0 0 0 0
Preferred Stock 0 0 0 0
Common Stock 818 812 810 810
Retained Earnings 944,673 900,928 860,098 788,559
Treasury Stock -28,002 -28,002 -28,002 -4,440
Capital Surplus 518,949 498,951 491,080 485,609
Other Stockholder Equity -8,185 -16,968 -12,977 -4,040
Total Stockholder Equity 1,428,253 1,355,721 1,311,009 1,266,498
Net Tangible Assets 1,006,263 936,536 893,607 850,961
Annual Cash Flow: All Numbers in Thousands
Period Ending 3-Jan-09 29-Dec-07 30-Dec-06
Net Income 188,658 40,830 109,891
Operating Activites:
Depreciation 170,466 152,817 125,254
Adjustments to Net Income 12,997 11,201 23,077
Changes in Accounts Recv'bls -108,072 -22,802 -38,918
Changes in Liabilities 32,030 -4,963 43,827
Changes in Inventories -2,542 5,435 -8,405
Changes in Other Op'ing Actv's 0 5,752 -22,008
Total Cash Flow fr Operations 281,802 274,565 232,718
Investing Activities:
Capital Expenditures -108,099 -180,723 -131,478
Investments 17,510 -13,277 29,122
Other Cash Flows fr Investing -80,018 -93,666 -75,188
Total Cash Flows fr Investing -170,607 -287,666 -177,544
Financing Acitivies:
Dividends Paid 0 0 0
Sale or Purchase of Stock -12,638 29,085 22,714
Net Borrowings -8,182 -22,359 -30,646
Other Cash Flows fr Financing 9,166 30,357 7,067
Total Cash Flows fr Financing -11,654 37,083 0
Effect of Exchange Rate Change -11,961 -3,613 -4,821
Change in Cash & Cash Equiv.s 87,580 20,369 49,488
Quarterly Cash Flow: All Numbers in Thousands
Period Ending 4-Jul-09 4-Apr-09 3-Jan-09 27-Sep-08
Net Income 43,745 40,830 71,540 45,014
Operating Activites:
Depreciation 46,356 42,727 46,735 43,283
Adjustments to Net Income 10,273 7,835 290 3,072
Changes in Accounts Recv'bls -130 32,120 -56,713 -41,653
Changes in Liabilities -20,074 -19,649 34,784 6,673
Changes in Inventories 53 -2,537 1,208 -871
Changes in Other Oper'g Acts -12,293 -3,500 339 -7,896
Total Cash Flow f Operations 67,930 97,826 98,183 47,622
Investing Activities:
Capital Expenditures -22,550 -43,173 -34,450 -19,970
Investments -7,390 26,247 76,943 -114,693
Other Cash Flows fr Investing -24,313 -23,786 -20,374 -20,330
Total Cash Flows fr Investing -54,253 -40,712 22,119 -154,993
Financing Acitivies:
Dividends Paid 0 0 0 0
Sale or Purchase of Stock 9,948 2,861 -22,578 -502
Net Borrowings -6,861 3 172 -5,760
Other Cash Flows fr Financing 5,609 952 -4,825 7,479
Total Cash Flows fr Financing 8,696 3,816 -27,231 1,217
Effect of Exchange Rate Chg 6,365 -6,244 -4,835 -2,983
Change in Cash & Cash Equiv. 28,738 54,686 88,236 -109,137
CERN Cerner Corp. [Indices near +3.0 or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 1.0025 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 2.8900 Forward P/E Ratio < 28? 1.1750
Sales Tests:
Price/Sales Ratio < 2.3? 0.7143 Inventory/Sales < 5%? 3.0000
Sales < $1 billion? 0.5966 Operating Margin < 7.5%? 0.4249
Balance Sheet Tests:
Debt/Equity < 0.40? 1.0000 Long-Term Debt Service: 3.0000
LTD Being Reduced? 1.8000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 1.5430 Working Capital >= 1.5? 0.6481
Leverage Ratio < 20%? 2.5595 Debt / Assets < 1? 3.0000
Quick Ratio > 1? 2.6475 Inventory Turnover > 1? 0.0465
Shares Out Decreasing? 1.2000 Market Cap.> 1.5 Billion? 0.2742
Profit Margin > 7.5%? 1.5920
Income Tests:
Dividend Yield > 2.0%? 0.0000 EPS Annual Growth > 10%? 0.0000
Enterprise Value/Revenue: 2.0533 EPS 5-yr Growth > 20%? 0.0000
Enterprise Value/EBITDA: 1.7596 EPS Growth Consistent? 2.4000
EPS Qrtly Growth > 10%? 2.4000 Collection < 45 days? 0.4393
Rev. Qtrly Growth > 15%? 0.0300 Gross Pft/Cur. LTD < 1? 3.0000
EPS Annual Growth > 10%? 0.0000 Borrowing Int. Rate< 6%? 1.3147
Stock Performance Tests:
Volatility > 25%? 3.0000 % Held by Insiders < 5%? 0.3090
Beta > 1.25? 0.7760 % Held by Institut. < 50? 0.5656
50 Da MA > 200 Da MA? 0.4201 % Held by Institut. > 30? 2.9467
52-Wk Change vs. S&P 500: -1.1127 Short Ratio > 5? 3.0000
Price/Book Value < 3? 0.2100 Short % of Float > 20? 0.8000
Return on Assets > 17%? 0.5818 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 3.0000 Positive Free Cash Flow? 1.0000
Positive Oper. Cash Flow? 1.0000 Price to C.F./sh. Ratio: 3.0000
Cash Flow / Assets >.10? 0.4557
CERN Cerner Corp. Overall Zenith Index: 1.4204
Financial Statements |
Financial Ratios |
. . . . . . . . . . . . 1 = Highest , 10 = Lowest
Market Grader |
Intrinsic Value |
Intrinsic Value by Discounted Cash Flow Method:
Intrinsic Value |
Intrinsic Value by Projected Earnings Growth Method:
Stock Scout |
We find "Scout" to be a bit biased toward the high end, so anything under a 6 is considered a negative, 6 and above, positive.
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Orders to Buy or Sell:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Stock Report |
Management's Discussion of Results of Operations Excerpts |
Moving Average Chart |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for Cerner Corporation:
Symbol? CERN
Total Months Available: 116
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
50.00 30.37 58.09 33.38 67.00 53.90
RANGE = 67.00 TO 30.37 Close = 67.46
CHANNEL = 53.90 TO 50.00 Degree = 1
Volatility = 5.78% Index = 0
Intraday Chart |
20 Days:
1 Day:
The following table details which MACD signals on the preceding chart are best taken. Originally, this was set up for a two-day span, but ten days gives a better sample. Unfortunately, with the 10-day span, the colored lines on the histogram are much harder to read. Both spans are shown above. Red turning into green on the histogram is a buy and green turning into red is a sell, but with the following conditions. The share price must have moved at least 0.2% away from the previous signal price in order to avoid whipsawing. More importantly, the +/- magnitude of the MACD (the blue line, which crosses the red line at signal time) must be greater than the minimum required magnitude indicated below. Otherwise, the signal is ignored. This system does not work well for Cerner. CERN Minimum Magnitude MACD for Action = ± 0.0750 Ticker Day Time Hist. MACD Sig Line Act Price Profit CERN 01 07:00 -0.0012 0.1246 0.1258 S 61.95 0.00 CERN 01 07:03 0.0083 0.1326 0.1243 B 62.39 -0.71 CERN 01 07:15 -0.0090 0.1842 0.1932 S 62.60 -0.37 CERN 01 08:35 0.0065 -0.1994 -0.2059 B 61.72 1.03 CERN 01 08:37 -0.0006 -0.2048 -0.2042 S 61.41 0.53 CERN 01 08:38 0.0150 -0.1855 -0.2005 B 61.70 0.06 CERN 01 08:57 -0.0014 -0.0825 -0.0811 S 61.47 -0.32 CERN 01 10:17 0.0040 -0.0817 -0.0857 B 61.16 0.19 CERN 02 06:28 -0.0381 -0.0266 0.0115 61.42 0.27 CERN 02 06:50 -0.0113 0.1360 0.1473 S 62.21 0.27 CERN 02 06:53 0.0031 0.1437 0.1406 B 62.60 -0.36 CERN 03 05:00 0.0050 -0.0393 -0.0443 62.19 -0.32 CERN 03 07:59 -0.0000 0.1009 0.1009 S 62.59 -0.32 CERN 03 08:02 0.0048 0.1051 0.1003 B 62.78 -0.63 CERN 03 08:16 -0.0019 0.1589 0.1608 S 63.07 -0.17 CERN 03 08:35 0.0092 0.1091 0.0999 B 63.45 -0.77 CERN 04 06:30 0.0162 0.0105 -0.0057 63.13 -0.86 CERN 04 09:17 -0.0017 0.1271 0.1287 S 63.75 -0.86 CERN 08 05:40 0.0227 0.0397 0.0169 64.50 1.40 CERN 08 07:26 0.0006 0.1159 0.1153 B 64.33 1.40 CERN 08 07:28 -0.0103 0.1027 0.1130 S 64.15 1.12 CERN 09 06:30 0.0012 0.0266 0.0254 64.00 0.61 CERN 14 06:44 0.0218 -0.1129 -0.1347 B 66.62 0.61 CERN 14 07:29 -0.0017 0.0756 0.0773 S 67.05 1.26 CERN 14 11:18 0.0046 0.0108 0.0061 67.47 0.63
Stock Fetcher |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
The "ultimate systems" are inconclusive, giving no clear confirmed signals.
The corresponding trades for the above chart are shown in tabular form below.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | + 1 |
| Industry | + 1 |
| Bond Issue | 0 |
| Zenith Index | + 1 |
| GAAP vs. non-GAAP Earnings < 1% | + 1 |
| Cash Flow | + 1 |
| Ratios | + 1 |
| Market Grader | + 1 |
| Intrinsic Value DCF | + 1 |
| Intrinsic Value DDM | - 1 |
| Stock Scout | + 1 |
| Projected Earnings | + 1 |
| Research Reports | + 1 |
| Analysts | - 1 |
| Executive Perquisites | - 1 |
| Insider Activity | - 1 |
| Institutional Activity | + 1 |
| Management Reporting | + 1 |
| Short Interest | - 1 |
| Sentiment | + 1 |
| Standard & Poor's | - 1 |
| Moving Average | + 1 |
| Stock Fetcher | - 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | + 1 |
| Time Series Chart | + 1 |
| Neural Network | 0 |
| Stock Options | + 1 |
| Ultimate Trading Systems | 0 |
| Total | + 12 |
Place 450 shares of Cerner Corporation (CERN) on the Active List.
