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Friday, December 30, 2011
Bakers Footwear Group (BKRS) Penny Stock to Watch
Normally, we don't bring fundamentals into our video charts, but Bakers Footwear put out news after the closing bell yesterday which may warrant a look at the trading today of BKRS. Technically speaking, the chart is holding support at $0.46, which must hold as traders look for volume/buying pressure to come into this low-float play.
Thursday, December 29, 2011
Daqo New Energy (DQ) Stock Chart Analysis
On a stiff downward trend for most of 2011, the DQ chart appears to be trying to find a bottom. There is a positive divergence going on with the MACD and the majority of the trading days of the past two weeks have shown green closes. Traders will be watching as the chart now faces resistance.
Tuesday, December 27, 2011
Cord Blood America (CBAI) Stock Chart Analysis
The CBAI chart has a history of making large moves in a short time frame. A double bottom pattern is forming as volume is increasing which will catch the eyes of traders in this popular stock. Bottom support is intact at $0.015.
Thursday, December 22, 2011
Micron (Nasdaq: MU) Shares Skyrocket, Investors Bet on 2012 Bounce
Orlando, FL 12/12/11 (StreetBeat) -- Micron Technology Inc's (Nasdaq: MU) shares jumped 15 percent on Thursday after investors looked past limp quarterly results and focused on a potential 2012 rebound in long-stagnant memory chip demand and prices.Micron on Wednesday posted lower-than-expected results saying flooding in Thailand -- a major production center for hard drives and the components that go in them -- had slashed demand for basic memory chips 10 to 15 percent. But Wall Street analysts foresaw a bounceback next year as hard-drive shortages alleviate.
Wedbush Morgan upgraded Micron stock to "outperform" from "neutral," while Raymond James analyst Hans Mosesmann reiterated his strong "buy" position, arguing the worst of the market doldrums could be behind Micron and the company should ride fatter margins next year.
"We see more reason for optimism in FY12, as the current DRAM pricing dynamic is not sustainable; the worst of the HDD- related shortages are seemingly in the past" and higher-margin flash memory takes up a larger portion of sales, Mosesmann said.
Stock in Micron, the last U.S. DRAM manufacturer, soared as much as 16 percent in early trading, and was up 14.3 percent at $6.33 in the late morning.
StreetBeat Disclaimer
Vivus (Nasdaq: VVUS) Data Shows Weight Loss Drug Ingredient Associated with Oral Clefts
Orlando, FL 12/12/11 (StreetBeat) -- Vivus (Nasdaq: VVUS) said late yesterday there was an increased association between babies born with an oral cleft in mothers who took the drug in the company’s weight loss treatment while pregnant.Mothers who had taken the antiepileptic drug topiramate in the first trimester of pregnancy showed prevalence rate of 0.29% of babies born with oral clefts, according to Vivus’ retrospective study of medical claims data, while mothers who took the drug prior to pregnancy but not during pregnancy has a 0.16% prevalence.
Women with similar medical profiles but no topiramate exposure had a prevalence of 0.07% babies born with oral clefts.
Vivus’ Qnexa weight loss drug is a combination of phentermine and topiramate, and has shown statistically significant weight loss, glycemic control and improvement in cardiovascular risk factors in studies thus far.
Vivus resubmitted its new drug application for Qnexa in October with a contraindication for women of childbearing age, and is studying the impact of the drug in pregnant women and babies.
The company has been in a race to develop an FDA-approved obesity drug, with rivals Arena Pharmaceuticals (ARNA) and Orexigen (OREX).
Vivus shares are taking a hit today on the news that the ingredient in Qnexa is associated with oral cleft defects.
StreetBeat Disclaimer
American Greetings (NYSE: AM) Shares Plummet 22% As Q3 Profit Drops
Orlando, FL 12/12/11 (StreetBeat) -- American Greetings Corp's (NYSE:AM) third-quarter profit dropped nearly 40 percent as it spent more on selling and marketing its greeting cards, and the company said its cash flow in 2012 would be hurt by the higher expenses.Shares of the company slumped 23 percent to $13.06 on Thursday morning on the New York Stock Exchange.
American Greetings reported third-quarter net income of $20.2 million, or 50 cents per share, compared with $32.2 million, or 78 cents per share, last year.
Revenue rose 8 percent to $463.6 million.
Selling, distribution and marketing expenses rose 19 percent to $140.1 million in the quarter.
The Cleveland, Ohio-based company plans to spend more on selling and marketing its greeting cards which will reduce the cash the business generates in 2012.
The company expects cash flow from operating activities to be about $90-$110 million, compared with its prior estimate of $125-$145 million.
StreetBeat Disclaimer
Empire Resorts and Entertainment Properties Announce Concord Resort Development Milestone
Orlando, FL 12/12/11 (StreetBeat) -- Empire Resorts, Inc. (NASDAQ: NYNYD) and Entertainment Properties Trust (NYSE:EPR) today announced that subsidiaries of the companies have finalized terms of an option agreement, whereby Empire’s subsidiary, Monticello Raceway Management, Inc. (”MRMI”) has the right to lease a parcel of land owned by EPR’s subsidiary, EPT Concord, II, LLC (“EPT Concord”) for future development of a new regional destination casino resort, hotel and harness racetrack at the site of the former Concord Resort. MRMI has made a payment in the amount of $750,000 to EPT Concord in consideration for the granting of this option.The option agreement defines the land parcel to be leased by MRMI and the economic terms of the lease, which the parties expect to execute after site plan approvals are obtained from local authorities and other conditions are met in the summer of 2012. The proposed development is a central component of a comprehensive master plan which is being developed by Hart Howerton as Master Planner for the development. The larger project is expected to include the casino resort, hotel and racetrack, as well as a golf course, specialty lodging, complementary retail, and other entertainment and recreational uses, along with new residential communities.
A Master Development Agreement will be finalized during the first half of 2012.
David Brain, President and CEO of EPR commented, “We are excited to share this news as it demonstrates meaningful progress in Sullivan County and is an important step toward realizing our vision for the Concord Resort.”
Emanuel Pearlman, Chairman of the Board of Directors of Empire and MRMI concluded, “This is an important milestone that brings us closer to the creation of over a thousand well-paying jobs at the Concord Resort property. We are very pleased to be associated with the management team at Entertainment Properties Trust. Our respective companies expect at least a $600 million investment in the initial phase and share a passionate commitment to deliver a comprehensive resort development of which Sullivan County and the State of New York will be proud.”
StreetBeat Disclaimer
Petrohawk Ex-CEO Leads $550 Million Purchase of Ram Stake
Tallahassee, FL 12/12/11 (StreetBeat) -- Former Petrohawk Energy Corp. head Floyd C. Wilson will become the chief executive officer of Ram Energy Resources Inc. (Nasdaq: RAM) after leading a $550 million purchase of a majority stake in the oil and natural-gas producer.Wilson’s Halcon Resources LLC will buy $275 million of new shares, issue a $275 million note convertible to common stock and get warrants to buy another 110 million shares, Tulsa, Oklahoma-based Ram said in a statement today. The deal is expected to close next quarter.
Wilson left Petrohawk after the $12.1 billion sale of the Houston-based company to BHP Billiton Ltd. in August. Ram said it will use the Halcon investment to accelerate drilling in the Mississippian oil play in Oklahoma. Halcon will get about 74 percent of Ram’s outstanding shares and the company’s name will change to Halcon Resources Corp.
“Floyd Wilson has an outstanding track record of successfully growing small-cap exploration and production companies such as Ram into value-rich large-cap enterprises,” Larry E. Lee, Ram co-founder and its current chairman and chief executive officer, said in today’s statement.
EnCap Investments LP, Liberty Holdings LLC and Mansefeldt Investment Corp. joined closely held Halcon in the investment, Ram said. Mitchell Energy Advisors represented Halcon and Jefferies & Co. advised Ram.
Jefferies was Ram’s largest shareholder with a 22 percent stake as of Sept. 30, according to data compiled by Bloomberg. Lee owned about 13 percent as of a Dec. 15 filing.
The announcement was made before regular trading began on U.S. markets. Ram rose 36 percent to $1.50 at 8:22 a.m. in New York. Before today, it had fallen 40 percent this year.
StreetBeat Disclaimer
Akamai (Nasdaq: AKAM) to Buy Cotendo for $268 Million to Expand Cloud, Mobile Services
Tallahassee, FL 12/12/11 (StreetBeat) -- Akamai Technologies Inc. (Nasdaq: AKAM), whose server network lets businesses speed data delivery, agreed to buy Cotendo for about $268 million in cash to expand Internet- based and mobile services.Cotendo, founded in 2008 and based in Sunnyvale, California, has about 100 employees, half of them in Israel, where the company has a technology center, according to a statement today.
The purchase is Akamai’s second largest after the $2.19 billion acquisition of InterVU Inc. in 2000, according to data compiled by Bloomberg. Cotendo will bring acceleration technologies based on the so-called cloud, a Web-based computing system, used by customers such as phone companies and social networks.
Cotendo’s investors include venture-capital firms Sequoia Capital and Benchmark Capital, as well as Juniper Networks Inc., according to its website.
Akamai, based in Cambridge, Massachusetts, rose 1.2 percent to $27 at 8:03 a.m. New York time before the opening of the markets. The company, with a market capitalization of $4.79 billion and about 2,300 employees, had slumped 43 percent this year before today.
StreetBeat Disclaimer
Facebook, Google, And Brand Bombing
Tallahassee, FL 12/12/11 (StreetBeat) -- Brand recognition is key to company's success--you know, in addition to quality goods and services--and the Internet provided an enormous new landscape upon which to build via advertisements. Advertisements are everywhere--storefronts, snail mail, Web-based email, TV, radio, streaming media, social media, and just about every webpage you visit--and whatever one may think about them, they pay for just about everything, including those things we enjoy for free and rely upon on a daily basis.
Two of those things include Google (Nasdaq: GOOG) and Facebook, and both are about to introduce us to heavier doses of branding.
Facebook, which has been gradually introducing more branded/sponsored content over the last year or so, is going to start putting sponsored content in your Newsfeed. According to comments made by Facebook spokesperson Annie Ta to ClickZ News, the social network will be introducing Sponsored Stories to Newsfeeds as early as next month.
Essentially, it’s a way for the brands you or your friends have liked or pages you’ve interacted with to reach you. "You will only see Sponsored Stories in your news feed about your friends or people you are connected to. You will never [see] a post from a page you are not a fan of, or from people who are not your friends," said Ta.
This is already occurring in a roundabout way; when a friend likes a page or checks in to a business, that can be turned into a de facto ad in your Newsfeed or on your ticker. You see “So-and-so likes Widgets R Us” and the company’s logo underneath the post.
Now, however, if your friends check into a Starbucks, you might just see a Sponsored Story for Starbucks in your Newsfeed. And you can’t opt out. Purportedly, these ads will have limits--Ta mentioned one per day--but that very well could turn into more.
Google, in an effort to direct Web traffic to its own Google+ social network, is putting brands’ Google+ Pages in regular search results. We knew this was coming, but now it’s gradually rolling out.
It of course makes sense that a brand’s social network page shows up in Google search results--that’s already been the case with the likes of Facebook and Twitter. However, the G+ result appears to rank higher, and in a different place, than it probably should.
For example, a search for “AT&T” brings up AT&T’s own website first, with some of the site’s sub-pages indented underneath. The company’s G+ page is under the sub-pages with the same indentation. Again, this makes some sense--the G+ page is an official AT&T page, so it’s nice to have it lumped in with other official AT&T pages, but so is AT&T’s Twitter feed and Facebook page--which are closer to the middle of the search results. (In a search for “Toyota”, the Facebook page doesn’t appear until the middle of the second page of results.)
Not only does the G+ page get included with the official company website, you can add the page to your G+ Circles, effectively ensuring that you’re on the hook for receiving messages from that brand. Further, the G+ Pages result includes a sentence or two with the link, giving brands a chance to throw out something like a promotion to draw you in.
In Facebook’s case, the social network is making money off of letting other brands bomb you. Granted, the brands you'll see more of are more likely to be ones you're actually interested in, and companies will no doubt offer some sweet deals and specials with this method, so there's a slight benefit there.
In Google’s case, the brand being bombed is Google itself. Google's money will come from increased Web traffic, which its competitors are not going to be happy about.
StreetBeat Disclaimer
Saab Kills Warranties On All New And Used Cars
Tallahassee, FL 12/12/11 (StreetBeat) -- Saab (Pinksheets: SAABF) filed for bankruptcy just yesterday, and already the fallout is hitting owners: all warranties on new cars sold or leased are suspended, as are all claims currently in process on already-owned Saabs.The report, by way of Detroit News, cites Saab North America representative Michele Tinson, who advises warranties on new cars are suspended indefinitely, meaning all Saabs still on dealer lots can only be sold as-is, without any factory protection against defects or breakdowns. The suspension of current claims also appears to be indefinite, but it's not yet clear if that will hold as well. Bargain hunters may not care about the lack of a warranty, but it will certainly drag down the value of any remaining cars in stock.
Tinson did caution that it's too early to announce any further actions in the U.S., likely referring to the impending dealer closures, layoffs, and sell-offs that will have to follow if Saab can't find a last-minute buyer.
That's right--Saab hasn't yet given up. CEO Victor Muller says there's still a chance it could be turned around, that it may "rise from the ashes like a phoenix."
Or it may stagger on like a zombie. There are fates worse than death.
StreetBeat Disclaimer
Apple Completes Acquisition of Flash Storage Company Anobit
Tallahassee, FL 12/12/11 (StreetBeat) --Apple's (Nasdaq: AAPL) rumored acquisition of Israeli flash storage company Anobit is complete, according to 9to5Mac.The news was first reported on the Israeli news site Calcalist, which claimed Apple paid between $400 million and $500 million for the firm. If true, that would make it Apple's priciest acquisition ever, behind NeXT, the company Apple co-founder Steve Jobs started after getting the boot from Apple in the mid-1980s. Apple later bought NeXT for $404 million, 9to5Mac noted.
Neither Apple nor Anobit has confirmed the acquisition, nor have they even indicated talks were underway. Traditionally, however, Apple has not openly discussed many of its acquisitions, and the company did not respond to a request for comment about Anobit.
However, the Israeli prime minister might have scooped Apple, congratulating the company on its first acquisition in the country via his official Twitter account.
"Welcome to Israel, Apple Inc. on your 1st acquisition here. I'm certain that you'll benefit from the fruit of Israeli knowledge," his office tweeted.
The purported deal is also notable because Apple rarely makes a non-software purchase. In the past two decades, Apple has only bought four hardware companies, including NeXT, P.A. Semi, Raycer Graphics, and Intrinsity.
Apple doesn't confirm suppliers, but it reportedly uses Anobit's technology inside the iPhone, iPad, and MacBook Air. Anobit doesn't list any of its clients, beyond saying on its Web site that its "products are used by world leading flash manufacturers, consumer electronics vendors, and storage system providers."
Anobit also owns a total of 95 patents. At the moment, Apple is waging patent battles against Samsung, HTC, and Motorola around the globe. Yesterday, the International Trade Commission ruled in its favor on one particular Android-related HTC patent, but experts claim the victory is limited in scope.
StreetBeat Disclaimer
3 Things To Know Before Trading
Tallahassee, FL 12/22/11 (StreetBeat) --Stocks were mixed in Asian trade. Some indexes were quite strong; Australia rose more than two percent, the Hang Seng was up almost 1.9% and the Nikkei added one and a half percent, but Shanghai fell more than one percent on the day. European indexes were moderately higher earlier this morning, but have now fallen toward unchanged at the moment; the Dax and the Footsie are essentially flat right now. US stock futures are down a slight fraction as I write.*The November reading of Japan’s Trade Balance was a larger deficit than expected at Y538 billion, seasonally adjusted. Exports were down 4.5% from a year earlier as Imports were up 11.4% from last year.
*The Bank of Japan kept their key rate steady at 0.10% and also maintained the same level for their asset buying and credit lending programs; but they also cut their economic assessment and say their economic recovery has paused. Also, a Japanese rating agency, R&I, cut Japan’s sovereign rating one notch to AA+.
*The ECB’s 3 Year LTRO tender facility was tapped for EU489 billion; an amount that was closer to the upper end of the range of expectations, that were said to average EU293 billion. There were 523 banks that utilized the LTRO.
*Some members of the Bank of England policy committee thought economic conditions had deteriorated earlier this month when they met, according to the minutes from that meeting, at which the members voted unanimously to keep rates and policy strategy steady. In part because they thought a euro area contraction was underway, some members thought additional QE may be necessary in due course.
*US mortgage applications were down 2.6% in the week ended December 16, according to the Mortgage Bankers Association. Both key components were down on the week; Purchases were down 4.9% and Refinancings fell 1.6%.
*The November reading of Existing Home Sales is due out at 9:00am CST; it is expected to be 5.06 million units at an annualized pace, or up 2.3% from the month before.
*The weekly report on energy inventories is due out at 9:30am CST. Stocks of Crude Oil are forecast to decrease 2.125 million barrels, Gasoline inventories are expected to increase 1.5 million and the estimate for Distillates is -750k.
*The Fed is scheduled to sell Treasuries twice today. First they will sell Treasuries that are due to mature between 11/30/13 and 3/31/14; the results of this operation will be announced just after 10:00am CST. Then they will sell Treasuries that are due to mature between 6/15/13 and 11/15/13; the results of this operation will be announced just after 1:00pm CST.
*The Treasury plans to sell $29 billion 7 Year Notes today; the auction results will be announced just after noon CST.
StreetBeat Disclaimer
Wednesday, December 21, 2011
Meritor (MTOR) Stock Chart Analysis Video
The Meritor chart got a nice bounce yesterday (along with most of the markets). A nice support level in the area of $5 is holding currently with resistance not in effect until around $6.50
Tuesday, December 20, 2011
Blue Gold Beverages (PK: BGBV) Largest Reclamation Project in North America: Potential Value Exceeding US $100,000,000
Orlando, FL 12/20/11 (StreetBeat) -- Blue Gold Beverages, Inc. (Pinksheets: BGBV) through its on-going partnership with California Chemical Fiber Material Company (CCFM) is in negotiations to acquire the rights to the largest polymer reclamation project in North America. Blue Gold Beverages is currently negotiating for the rights to the McAdoo landfill site, which is located near Kingston, Ontario Canada. The commercial grade polymer was buried there in the 1970 by DuPont, the world class chemical company, who invented polymers such as Nylon, Teflon, Mylar, and Kevlar. The estimated value of the commercial grade polymers once cleaned; reground and pelletized is US$ 120,000,000.Blue Gold Beverages is familiar with the consistency/quality of the polymers originating from the DuPont facility located near Kingston Ontario. The company had previously sourced commercial grade Nylon from the McKendry Landfill site, also used by DuPont. The polymers were extracted and successfully sold to the Asian market; therefore Blue Gold Beverages is confident that this new reclamation project will be a huge commercial success.
ABOUT THE COMPANY: Blue Gold Beverages wholly owned subsidiary, TY Recycling specializes in the cleaning, processing and recycling of thermoplastic polymers such as Polyethylene Terephthalate and Type 66 Nylon waste. This is in-line with the company's strategy of becoming environmentally responsible by eliminating its carbon footprint, and increasing shareholder value. Blue Gold Beverages, Inc. through its recent acquisition of Epic Nutrition is a leading producer of 2 ounce specialty drinks and energy bars such as NRG Shots and PitBull energy bars, please visit our website www.bluegoldbeverages.com for more details.
StreetBeat Disclaimer
Respect Your Universe (OTCBB: RYU) Signs Top UFC Fighter Jon Fitch to First Athlete Endorsement Deal
Orlando, FL 12/20/11 (StreetBeat) -- Today, Respect Your Universe, Inc. (OTCBB: RYUN), announced signing top UFC Welterweight Fighter Jon Fitch to their first athlete endorsement deal. Fitch, who is widely recognized as one of the highest ranked pound-for-pound Mixed Martial Artists in all Mixed Martial Arts, was carefully selected by RYU after extensive research on today's Mixed Martial Artists who encompass the Warrior Ethic lifestyle both in, and out of, the octagon."We are all very excited to have Jon join the RYU team as our first Mixed Martial Arts athlete," commented John Wood , President of RYU. "Jon embodies the spirit and essence of respect, honor, strength and nature; the pillars of RYU. We look forward to working with Jon and his team in the continuing growth of RYU."
With a MMA record of 26-3-1-1, Fitch has defeated impressive fighters throughout his UFC career (beginning in 2002) and holds wins over Diego Sanchez , Paulo Thiago and Mike Pierce as well as two wins over one of the most dominant Welterweights in the UFC – Thiago Alves . Fitch's UFC record is 13-1-1 and is tied second for most consecutive UFC wins (eight) with Royce Gracie .
Currently, Fitch is training out of the American Kickboxing Academy in San Jose, California , where he is preparing for his first UFC fight in almost a year that will take place on December 30th at the MGM Grand Garden Arena in Las Vegas. Set to fight fellow American Johny Hendricks , Fitch and Hendricks will be a main card bout following the headlining bout between former UFC Heavyweight Champion Brock Lesnar and former Strikeforce Heavyweight Champion Alistair Overeem .
"It is an honor to represent RYU as their first premiere athlete in the UFC," said Jon Fitch . "The quality of their products and the values that they stand for are the same qualities that I have displayed in the octagon and will continue to value on my quest toward becoming the UFC Welterweight Champion."
As a UFC Veteran, Fitch has a background in Wrestling, a Brazilian Jiu-Jitsu Black Belt under David Camarillo and is a MMA, Wrestling and Jiu-Jitsu Seminar Instructor in addition to being an American Kickboxing Academy Team Captain. Prior to his UFC career, Fitch graduated from Purdue University in 2002 with a Bachelor of Science Degree in Physical Education and a Minor in History. At Purdue , Fitch was a four-year letter winner in NCAA Division I Wrestling receiving the 2002 Purdue University Red Mackey Scholarship, the "Most Dedicated" Wrestling Award in 2002 and was also the 2002 Wrestling Team Captain.
Built for Athletes, Suited for Style, RYU's debut men's premium high performance line embodies the art of the sport and places emphasis on respect, strength, honor and sustainability as the foundation of their apparel and products. All of the apparel items and products have been produced from organic and/or recycled materials utilizing some of the best yarn and fabric suppliers in the world while achieving the performance attributes desired by Mixed Martial Arts fighters and the true everyday athlete.
StreetBeat Disclaimer
Eco Building Products (OTCBB: ECOB) Commences Shipment of Multi-story Hotel Project
Orlando, FL 12/20/11 (StreetBeat) -- Eco Building Products, Inc., (OTCBB: ECOB) announced today the company has commenced shipment of Eco Red Shield ™ lumber to a JMW Truss facility, on behalf of S&H Contracting, to commence fabrication of pre-fab wall assemblies being deployed on site for construction of a multi-story hotel project. The Company secured an order for Lumber, Trusses and EWP products coated with Red Shield ™ protection to build Seacoast Inn, All - Suite Boutique Hotel, Restaurant & Spa located in Imperial Beach, California in June 2011 . This project has now begun shipping with several more truck loads prepared to ship this month with an estimated 38 more truckloads shipping throughout the month of January 2012 .The project being built by Imperial Coast, L.P. represents approximately 1 million board feet of lumber which when erected will offer a grand "Eco Red Shield Billboard." S&H Contracting incorporated Eco Red Shield protected lumber in the project to bring a significantly higher level of liability protection to their organization at competitive prices. With the inclusion of AF21 Fire Inhibitor made the choice to employ Eco Red Shield an easy decision.
"Our factory has been building inventory in anticipation of these large multi-family, multi-story orders in our backlog. I am happy to commence shipments increasing our cash flow creating capacity for all our first quarter contract releases" stated Steve Conboy , President and CEO, Eco Building Products.
StreetBeat Disclaimer
GSK Sells North American Brands to Prestige (NYSE: PBH)
The world's no.2 drugmaker said on Tuesday the sale of the business to the U.S. personal care firm would generate cash proceeds of 242 million pounds, which it will return to shareholders in 2012.
GSK had been expected to sell the North American and European consumer health brands all together for between 1.5 billion and 2 billion pounds, according to initial analyst estimates.
"Active discussions continue with other potential buyers for the remaining assets," Chief Financial Officer Simon Dingemans said.
The company said the assets it disposed of generated sales of around 134 million pounds in 2010, while those it is still marketing to buyers had a turnover of 400 million in the same period.
Shares in GSK traded down 1.5 percent to 1,427.5 pence at 1339 GMT, lagging Britain's bluechip index which was 0.14 percent lower.
StreetBeat Disclaimer
Gilat Satellite (Nasdaq: GILT) Awarded Internet Broadband Connectivity Contract in Colombia for Schools
Orlando, FL 12/20/11 (StreetBeat) -- Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that it has been awarded a new contract by the Colombian Ministry of Information Technology and Telecommunication (MINTIC) to provide broadband Internet connectivity to over 1,600 schools throughout the country's rural regions. Valued at approximately $18.5 million, the project is hosted by the Ministry's Social Telecommunications Program ("Compartel") and the Ministry's "Fondo de Tecnologias de la Informacion y las Communicaciones", and is scheduled to commence in 2012, concluding by mid 2013.Gilat's SkyEdge II solution, featuring the Company's innovative WebEnhance VSAT, will provide broadband connectivity featuring data rates of up to 2 Mbps. The network is expected to connect 1,676 schools located in five separate districts across rural Colombia, and is part of a national bid for over 6,800 schools awarded to seven operators. The program is part of the Colombian government's ongoing efforts to reduce the communication gap in Colombia, and further investment in improved access to advance communications services in schools.
"Thanks to these awards more than 6,800 rural schools in the country will have access to the Internet with twice or four times the speeds they enjoyed before. More than 1,130,000 children and adolescents will have the same opportunities as urban students to use information technologies in their schools," said Diego Molano Vega, Minister of IT and communications.
"Gilat has been at the forefront of delivering communication services in Colombia for over a decade, and we are proud to be able to continue this important work and be a valid contributor to improving the lives of children across rural areas," said Amiram Levinberg, Gilat's CEO and Chairman of the Board.
StreetBeat Disclaimer
Bioanalytical Systems (Nasdaq: BASI) Q4 Earnings Release
Orlando, FL 12/20/11 (StreetBeat) -- Bioanalytical Systems, Inc. (NASDAQ: BASI) today announced financial results for the fourth quarter and fiscal year ended September 30, 2011.Fiscal 2011 Results
Net income for fiscal 2011 ended September 30, 2011 increased to $543,000. This compares to a net loss for fiscal 2010 of $2,691,000. Revenue increased 15.2% for fiscal 2011 to $33,144,000 from $28,781,000 for fiscal 2010, and gross margin improved to 31.7% versus 25.5%.
"Fiscal 2011 was BASi's first profitable year since fiscal 2007," said President and Chief Executive Officer Anthony Chilton, "and we are optimistic that the company will deliver further revenue and earnings growth in fiscal 2012."
During fiscal 2011, BASi paid down $1,000,000 of long term debt and closed an oversubscribed public offering for $5,506,000 of units consisting of convertible preferred shares and warrants to purchase common shares. Accounting for the value of the warrants and the preferred shares in the third quarter and first nine months of fiscal 2011 resulted in a one-time deemed dividend to preferred stockholders of $3,277,000, which was deducted from net earnings to compute GAAP earnings per share. Additionally, the Company immediately charged $991,080, the payment-in-kind dividends payable to the preferred stockholders, against net earnings to compute GAAP earnings per share. This resulted in a GAAP loss per share of $0.66 for fiscal 2011, compared to a net loss per share of $0.55 for fiscal 2010.
Excluding the deemed dividend to preferred shareholders and the preferred dividend, diluted net income per share would have been $0.09 for fiscal 2011. Management considers the income available to common shareholders and earnings per share exclusive of the dividends to be a useful measure in evaluating the operating results of BASi. A reconciliation of GAAP to non-GAAP financial measures is provided in the table attached to this press release.
Fourth Quarter Results For the fourth quarter ended September 30, 2011, revenue increased 10.1% to $8,153,000 compared to $7,405,000 for the fourth quarter of fiscal 2010. Primarily due to the mix of services provided and unusually high general and administrative expense, the net loss for the fourth quarter of fiscal 2011 was $668,000, or $0.10 per share, compared to a net loss of $279,000, or $0.06 per share, for the fourth quarter of fiscal 2010.
Balance Sheet Highlights At September 30, 2011, BASi reported cash and cash equivalents of $2,963,000, working capital of $526,000, total long-term obligations of $6,913,000, and shareholders' equity of $15,586,000, or $2.26 per outstanding share. At September 30, 2010, cash and cash equivalents were $1,422,000, the working capital deficiency was $3,342,000, total long-term obligations were $7,100,000, and shareholders' equity was $10,667,000, or $2.17 per outstanding share.
CEO Comments President and CEO Chilton said, "We generated cash and delivered solid revenue growth and substantially improved bottom-line performance in fiscal 2011 despite a difficult economic environment and delays in certain projects. While business conditions remain challenging, well-established trends in our industry clearly indicate that new drug discovery and development will rely increasingly on outsourcing in the years ahead. As a provider of contract research services for more than 35 years, BASi is positioned to take advantage of these trends by expanding our business with the growing population of small biotech and pharmaceutical companies that have become a major force in new drug discovery, even as we enhance our historically close relationships with major pharmaceutical clients.
"We expanded our sales staff and increased selling expenses by 17% in fiscal 2011 versus prior year in support of this growth strategy, which helped us add more than 25 new accounts to our client roster in fiscal 2011. We also are seeking to expand our service offerings through accretive acquisitions if appropriate opportunities become available. We are confident that we are on the right track to deliver further growth and enhance shareholder value."
StreetBeat Disclaimer
Real Goods Solar (Nasdaq: RSOL) Closes Merger With Alteris Renewables
Orlando, FL 12/20/11 (StreetBeat) -- Real Goods Solar, Inc. (Nasdaq:RSOL) and Earth Friendly Energy Group Holdings, LLC, d/b/a Alteris Renewables, Inc., announced today that they have completed their previously announced merger to create a multi-state solar integration powerhouse. Pursuant to the merger agreement, Real Goods Solar, Inc. issued 8.7 million shares of Class A common stock.The merger brings together two pioneers and leaders in the solar industry, each with more than 30 years of experience in their respective markets. Combining a widely recognized and reputable consumer brand with a premier commercial customer base, a strong array of financing solutions and in-house engineering expertise, this merger creates a leading renewable energy integrator. Real Goods Solar is well poised to capitalize on strong solar installation growth with more than a dozen offices, covering both coasts with national design-build-finance-operate capabilities.
Both companies are now operating on a single financial system and significant progress has been made to centralize functions at our headquarters in Louisville, Colorado. As previously announced during our third quarter earnings call, Real Goods Solar anticipates 2011 calendar year net revenue of approximately $110 million, with the fourth quarter showing positive EBITDA. In addition, Real Goods Solar expects to achieve approximately $180 million of net revenue for calendar year 2012, excluding acquisitions, which represents an organic growth rate above 40%.
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Salix (Nasdaq: SLXP) reports positive Phase III results for constipation drug
Palm Beach, FL 12/20/11 (StreetBeat) -- Salix Pharmaceuticals (Nasdaq: SLXP) announced positive Phase III trial results for a drug to treat constipation in patients on pain medication on Tuesday.Raleigh-based Salix acquired the drug from Tarrytown, N.J., -based Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) in February and market the drug under the name Relistor everywhere except Japan, where Ono Pharmaceutical Co had a previous license agreement for the drug. Salix plans to file a new drug application with the Food and Drug Administration in mid 2012.
Salix paid $60 million in cash up front in the marketing deal and Relistor is already approved in the U.S., but may be delivered only through a subcutaneous injection, a type of injection mechanism typical in delivering insulin to diabetic patients, and only in patients with an advanced illness who are receiving palliative care. The latest trial tested an oral version in tablet form for patients who suffer from constipation caused by opioid medicine they take for chronic, non-cancer pain.
Under the Progenics agreement, Salix would pay another $50 million if the pill version is approved in the U.S., $40 million when a subcutaneous version is approved for non-cancer patients and $200 million when certain sales milestones are achieved. Progenics would also receive royalties ranging from 15 percent to 19 percent of net sales of Salix and its affiliates and 60 percent of any up-front payments Salix receives from sublicenses outside the U.S.
Salix did not break out sales of Relistor individually in its latest quarterly filing. It is accounted for in a group of six drugs which made up $15 million in sales through the first nine months of 2011, about 4 percent of net product revenues.
Salix is on pace to clip the $500 million revenue barrier for the year.
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Goldman-Backed Cobalt (NYSE: CIE) Jumps Following Angolan Oil Discovery
Palm Beach, FL 12/20/11 (StreetBeat) -- Cobalt International Energy Inc. (NYSE: CIE), the deep-water oil explorer whose biggest investors include Goldman Sachs Group Inc., had its largest intraday increase after an exploration well off the coast of Angola struck oil.Cobalt surged 25 percent to $12.63 at 9:39 a.m. in New York. Before today, the shares had fallen 17 percent this year.
Cobalt said today in a statement that it’s evaluating results from the Cameia-1 well. Last month, the company estimated the prospect holds at least 1 billion barrels of crude. Angola selected the company to operate an additional offshore block, Cobalt said in the statement.
“The results thus far confirm the existence of hydrocarbons and are very encouraging,” the company said in the statement. After the well is sealed, Cobalt said it plans to move Diamond Offshore Drilling Inc. (DO)’s Ocean Confidence rig to the nearby Bicuar-1 prospect to begin another well.
Cobalt is 19 percent owned by Goldman and 19 percent owned by private-equity firm Riverstone Holdings LLC, both New York- based, according to data compiled by Bloomberg. Cobalt was founded in 2005 and first sold shares to the public in December 2009.
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Canadian Solar (Nasdaq: CSIQ) Selling Projects to TransCanada; Shrs Soar
Palm Beach, FL 12/20/11 (StreetBeat) -- Canadian Solar (Nasdaq: CSIQ) this morning said it has agreed to sell to TransCanada a collection of 86 MW of AC solar projects for about $470 million Canadian, which is equal to about $455 million in U.S. dollars.Under the agreement, Canadian Solar will provider TransCanada with 9 fully operational utility scale solar projects in Ontario that are expected to come into service between late 2012 and mid-2013. Canadian solar will provide “turnkey engineering, procurement and construction services as well as being the supplier of major components to the projects.” All solar PV modules used in the projects will be manufactured at Canadian Solar’s manufacturing facility in Guelph, Ontario .
“This agreement with TransCanada is a true achievement for the solar industry in Canada , and an important milestone for Canadian Solar as we continue to expand our total solutions business to promote the expansion of solar power worldwide,” Canadian Solar CEO Shawn Qu said in a statement. “We are proud of our association with TransCanada, one of North America ‘s strongest and most successful energy infrastructure companies, which have chosen to partner with us for their entry into the Solar PV space.”
Penn Virginia Corporation (NYSE: PVA) Announces Eagle Ford Expansion
Palm Beach, FL 12/20/11 (StreetBeat) -- Penn Virginia Corporation (NYSE: PVA) announced today that it has completed an agreement with an undisclosed major oil and gas company to jointly explore the Eagle Ford Shale in Lavaca County, Texas. The agreement establishes an area of mutual interest (AMI) between PVA, as operator, and the other company covering approximately 13,000 gross acres near PVA’s existing acreage in southeastern Gonzales County. Depending on the future participation of other companies, PVA’s minimum working interest in this project will be approximately 50 percent. Preliminarily, PVA estimates that a minimum of approximately 40 horizontal drilling locations may exist in the new AMI area, with the potential for additional locations assuming future downspaced drilling.Under the terms of the agreement, PVA will drill up to six wells by September 1, 2012 to earn its interest through the base of the Eagle Ford Shale in all of the 13,000 gross acres. PVA will carry the other company on its working interests in the first three wells.
Management Comment
H. Baird Whitehead, President and Chief Executive Officer stated, “We are pleased to have entered into this agreement in Lavaca County and believe the AMI acreage is highly prospective for the Eagle Ford Shale as it is situated almost adjacent to our existing Eagle Ford position in Gonzales County on which we have drilled some excellent wells. We now have a very good opportunity to increase our prospective net acreage position in the Eagle Ford to approximate our near-term goal of 25,000 net acres.”
Penn Virginia Corporation (NYSE: PVA) is an independent oil and gas company engaged primarily in the development, exploration and production of natural gas and oil in various domestic onshore regions including Texas, Appalachia, the Mid-Continent and Mississippi.
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Marshall Edwards (Nasdaq: MSHL) Awarded Key Patent For Compositions Of Lead Oncology Drug Candidates
Palm Beach, FL 12/20/11 (StreetBeat) -- Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today that the U.S. Patent and Trademark Office has issued a new patent, U.S. Patent No. 8,080,675, covering a number of the Company's isoflavone-based compounds, including lead oncology drug candidates ME-143 and ME-344, and their pharmaceutical compositions. The patent is estimated to provide protection until March 2027."This patent represents another important milestone in our efforts to develop our lead drug candidates into valuable treatment options for patients with cancer," said Daniel P. Gold , Ph.D., President and Chief Executive Officer of Marshall Edwards . "Furthermore, this demonstrates our commitment to further strengthening the intellectual property portfolio we acquired earlier this year, which will be essential for partnering any of our drug candidates and enhancing shareholder value."
Marshall Edwards completed the acquisition of its isoflavone-based intellectual property portfolio, including worldwide rights to lead oncology drug candidates ME-143 and ME-344, from Novogen Limited in May 2011 . The portfolio now includes 11 issued U.S. patents, at least 14 U.S. patent applications, at least 40 issued foreign patents and at least 80 foreign patent applications.
About Marshall Edwards
Marshall Edwards, Inc. is a San Diego -based oncology company focused on the clinical development of novel anti-cancer therapeutics. The Company's lead programs focus on two families of small molecules that result in the inhibition of tumor cell metabolism. The first and most advanced is a NADH oxidase inhibitor program that includes lead candidate ME-143. The Company initiated a Phase I clinical trial of intravenous ME-143 in patients with solid refractory tumors in September 2011 and expects final data from the trial by the second quarter of 2012. The second program is a family of mitochondrial inhibitors that includes lead candidate ME-344. The Company is currently conducting the necessary pre-clinical animal toxicity studies to support submission of an Investigational New Drug (IND) application for ME-344 in the first quarter of 2012.
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Saab (Pinksheets: SAABF) Files For Bankruptcy: Official
Tallahassee, FL 12/20/11 (StreetBeat) -- It’s official. Saab (Pinksheets: SAABF), along with its Saab Powertrain and Saab Tools subsidiaries, has filed for bankruptcy with a Swedish court this morning.Following previous owner GM’s recommitment over the weekend to block any deal for the purchase of Saab, Chinese firm Youngman has finally thrown in the towel and announced that funding to continue and complete the ongoing reorganization process could not be concluded.
Saab’s parent company, Swedish Automobile, subsequently decided that the automaker without further funding will be insolvent and that filing bankruptcy is in the best interests of its creditors. The Swedish court overseeing the reorganization process has since accepted the bankruptcy application and has appointed two receivers to help sell off remaining assets and pay back creditors.
Swedish Automobile, led by Victor Muller, said it does not expect to realize any value from its shares in Saab and will write off its interest completely. It is believed that Muller personally handed in the bankruptcy application for the 64-year-old company.
As previously reported, Swedish Automobile had hoped to sell Saab to Youngman, which was willing to build up the Swedish brand into a full-line luxury automaker with new products such as an entry-level 9-1, 9-6X sports crossover and 9-7 flagship sedan. However, such a deal would involve the handover of several technology licenses owned by former parent GM, which fears they may end up in the hands of its competitors in the Chinese market.
GM has a number of preferential shares in Saab and this past weekend said it wouldn't approve any of the recently proposed new ownership structures, ending hopes of a deal to be secured before a court decision on the continuation of Saab’s reorganization process that was to be made today.
Saab, which directly employs about 3,700 staff, hasn’t built a car since April. Production originally stopped after suppliers, which make up most of Saab’s creditors, stopped delivering parts due to unpaid bills.
It’s a sad day for Saab fans all around the world but as we've seen in the past bankruptcy does not always have to mean the end of a brand--only time will tell.
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3 Things To Know Before Trading
Tallahassee, FL 12/20/11 (StreetBeat) --Stocks were mixed in Asian trade. The Nikkei added a half percent and the Hang Seng was up a slight fraction, but both Shanghai and Australia were down a slight fraction on the day. European indexes are also mixed this morning, with the Dax up about 0.8% and the Footsie down 0.3% at the moment. US stock futures are up about one percent as I write.*The Reserve Bank of Australia thinks that the European debt crisis posed a downside risk to the Australian economy, say the minutes from their December policy meeting; they think there is a “non-trivial” chance of a very sharp contraction in Europe, but that Asia was showing solid growth and the US had a “more positive tone”.
*The November reading of Germany’s Producer Prices was +0.1% on a monthly basis, matching the forecast. The annualized rate of 5.2% was right on the estimate as well.
*The December reading of Germany’s IFO Business Climate Survey was better than expected at 107.2, up six tenths from the month before. Also better than forecast were the IFO surveys of the Current conditions and expectations.
*Fitch announced that the AAA rating for the EFSF debt issues is mainly dependent on France and Germany retaining their AAA rating. So, they say, “the revision of the rating outlook on France to negative last Friday implies that the risk of a downgrade of EFSF debt has increased. We affirmed France’s AAA status but warned that there is a slightly greater than 50% chance of a downgrade within the next year or two.”
*The November reading of Switzerland’s Trade Balance is a surplus of SF3.0 billion; well above the expectation for a surplus of SF2.0 billion. Exports were down 6.8% from the month before, but Imports fell even more, -7.7%.
*The weekly report on chain store sales from ICSC shows sales were up 3.4% on a week on week basis for the week ended December 17, well above recent results. The Johnson Redbook report on the same thing is due out at 7:55am CST.
*The November reading of Housing Starts is due out at 7:30am CST. Starts are expected to be 635k units annualized and the estimate for Building Permits is also 635k.
*The Fed is scheduled to buy Treasuries today that are due to mature between 2/15/36 and 11/15/41; the results of the operation will be announced just after 10:00am CST.
*The Treasury plans to sell $35 billion 5 Year Notes today; the auction results will be announced just after noon CST.
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Fleet Management Solutions (FLMG) Stock Chart Analysis
Three straight green days have now put the FLMG chart at a point of resistance. Momentum has stayed in the play on a consolidation after a big move which will have traders watching to see if the resistance will fall.
Monday, December 19, 2011
TN-K Energy Group Inc. Lead the Negotiations in an $875,000 Oil Lease Sale
Palm Beach, FL 12/19/11 (StreetBeat) -- TN-K Energy Group Inc. (PinkSheets:TNKY) today announced that the company led the negotiations, between the buyers and the sellers, of an $875,000 oil and gas lease sale known as the Chamber lease. The lease, bordering the county lines of Clinton County, Kentucky and Pickett County, Tennessee, is an approximate 300 acre oil lease.Ken Page, C.E.O. & President of TN-K Energy Group Inc., expressed his excitement in the lease by stating, "The transactions associated with the Chambers lease negotiations were beneficial to all participants involved. The Chambers lease is in a highly productive and proven area within the Sunnybrook, Stones River, Murfreesboro, and Knox formations. These formations are known for their longevity."
By leading the negotiations, TN-K Energy Group Inc. received a finder's fee of $65,000 and a 5% overriding royalty interest in the Chambers lease which includes 6 wells producing an approximate average of 10-20 barrels per day. TN-K Energy Group Inc. also received a participation right up to 30% net revenue working interest in an additional 10 new wells and an option to drill an additional 10 wells. "This was a great opportunity for TN-K Energy Group Inc. to continue its exploratory operations at a minimal operation's cost to the company," summarized Ken Page.
About TN-K Energy Group Inc.
TN-K Energy Group Inc. is an independent energy company with operations in Tennessee and Kentucky.
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ChromaDex Announces Completion of Patient Enrollment for the First Human Clinical Study of its Proprietary pTeroPure
Palm Beach, FL 12/19/11 (StreetBeat) -- ChromaDex Corporation (OTCBB: CDXC), an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food and beverage, cosmetic and pharmaceutical industries today announced the successful completion of enrollment in the first human clinical study of its proprietary pTeroPure.The purpose of the randomized, double-blind placebo-controlled study is to evaluate whether pTeroPure will lower cholesterol and blood pressure, as well as improve markers for oxidative stress in patients with dyslipidemia-meeting inclusion criteria. Investigators are also evaluating the safety of pTeroPure in these patients.
pTeroPure is ChromaDex's proprietary brand of its patent-pending pterostilbene, a central ingredient in its recently launched BluScience™ line of dietary supplements, now available at GNC.
Pterostilbene is one of several stilbenes found in blueberries and other berries that have demonstrated pre-clinical benefits in a number of health factors including improved levels of cholesterol, blood pressure and oxidative stress.
ChromaDex holds exclusive worldwide rights to patents pending for pterostilbene for these and other health benefits based on technology licensed from the University of Mississippi , as well as through additional intellectual property developed by the company or in conjunction with leading research institutions.
William Spengler , President of ChromaDex, said, "Now that trial enrollment is successfully completed, we anticipate release of the trial data in Q2 2012. This first human clinical study of pTeroPure will provide an important independent clinical assessment of what we believe is an enormous opportunity with this product. We anticipate that additional clinical studies involving pTeroPure and other compounds in our pipeline will be initiated in the coming months."
pTeroPure was recently named the 2010 North American Most Promising Ingredient of the Year by the prestigious independent research company Frost & Sullivan. Capitalizing on the diverse potential applications of the product, ChromaDex is also developing pTeroPure for the skincare and pharmaceutical markets, among others.
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Legend Oil and Gas (OTCBB: LOGL) Provides Update on Operations and Corporate Governance
Palm Beach, FL 12/19/11 (StreetBeat) – Legend Oil and Gas Ltd. (OTCBB: LOGL) is pleased to announce it has permitted three new locations on its Woodson County, Kansas properties. Two wells will be drilled on the John Ellis lease with an additional location drilled on the Orth-Gillespie lease. Production more than tripled on the Orth-Gillespie lease due to the drilling of three new locations in June and July of this year. John Ellis production increased two-fold with the re-completion of an existing well. The two additional locations in the new program are expected to further enhance the John Ellis production."While Kansas production rates are low by industry standards (1-3 BOPD per well), the wells are extremely shallow, cost less than $30,000 each to bring into production and are economically positive, especially at oil prices near $100 per barrel," said Legend's President, Marshall Diamond-Goldberg . "With a land holding of over 1,000 acres and well spacing of 2.5 acres, there are a significant number of low-risk locations yet to be drilled, and the production enhancement potential of water flooding the properties for greater recovery is considerable."
In Canada , the Company continues to identify new opportunities on the International Sovereign Energy Corp. ("ISEC") asset acquisition, which closed in October. "These assets are mostly low-decline, stable production assets with several properties having significant development potential," said the Company's President. "We are in the process of completing the acquisition of surface approval, which will be followed by the licensing of our first well at Swan Hills. It is expected that the license will be received in early January. Once received, we will prepare to drill our first horizontal well there. Production potential, based upon the offsetting wells drilled by Coral Hill , is anticipated at 100-200 BOPD net to the Company's interest."
A farm-out agreement has been reached in the Swan Hills area with a third party to drill two vertical Nisku formation tests searching for light oil. The Company retains the right to participate in these exploratory wells up to a 25% interest. There are a number of Nisku pools in the vicinity of these test locations. The first well is expected to spud in February 2012 .
Legend is also conducting operations at its Joffre property and is looking to move forward on a lease acquisition at Medicine River in order to return a previously drilled horizontal well to production.
Corporate Governance
Currently, Legend has two members on its Board of Directors. It is the intention of the principals to have a fully independent Board which is in line with the Company's Code of Ethics and fundamental to its Corporate Governance Policy. To that end, a number of candidates have been identified with the expectation these Board seats be held by individuals who will add valuable insight and be suitable to serve on the reserve, audit, and compensation committees. Management expects a fully independent Board to be in place by early 2012.
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OTI Expands EasyPark(TM) Solution to Turin, Italy's Largest On-Street Parking Market
Palm Beach, FL 12/19/11 (StreetBeat) – On Track Innovations Ltd. (Nasdaq:OTIV) announced today that Neos Tech S.r.l. a parking management operator in Italy, has extend the deployment of OTI's EasyPark(TM) electronic parking management system to the city of Turin, Italy. Turin has 1.7 million residents and with 50,000 on-street parking spaces it is the largest on-street parking market in the country. With this implementation, EasyPark(TM) will be available to over 5 million people in 20 cities across northern Italy under the "Neos Park" brand. PARX, OTI Subsidiary, is responsible for global marketing and sales, with deployments in over 110 municipalities including Israel, France and Italy, totalling over 1.1 million devices sold to date.The Turin implementation is the result of Neos Tech, OTI's Franchisee for the EaysPark in Italy, strategy to build a track record of success by deploying EasyPark in smaller cities in the vicinity of Turin. These markets served as a proof of concept, built consumer and product awareness and paved the way to this larger city adoption. Neos Tech and OTI continue to pursue other opportunities throughout Italy.
OTI's Chairman and CEO, Oded Bashan, commented, "We are excited that the city of Turin has chosen EasyPark to help manage its growing parking infrastructure. We are pleased to bring the city and residents of Turin the convenience, security and flexibility of our turnkey parking management solution. We hope that our growing base of municipal adoption in Europe, combined with expanding consumer awareness and experience of the convenience and efficiency of our EasyPark solution, will support the continued expansion of our operations throughout Europe."
What is EasyPark?
EasyPark(TM) is a unique on-street and off-street parking management solution that delivers a quick, flexible and convenient service for drivers, without the substantial capital investment and ongoing operating costs required to deploy and operate other parking solutions. EasyPark utilizes a small in-car electronic device placed in the window where it can be verified visually or using a contactless reader. The device tracks parking usage and processes payments, providing a user-friendly experience that eliminates the need for cash and reduces the time required to find and utilize traditional parking meters or pay-and-display machines. Drivers can securely deposit additional parking funds for the device either online or through public reloading stations. To facilitate adoption, Neos Tech has already established over 400 loading locations at convenience stores, newspaper stands and other retail outlets across Turin. EasyPark(TM) system provides detailed reports that allow municipalities to monitor and manage parking patterns across the city. The system easily supports multiple rates, tariffs and currencies and provides robust security.
Case Study
Since its launch in Israel in 2000, the EasyPark deployment has grown to approximately 700,000 users in over 40 municipalities, representing nearly 60% penetration of Israel's 1.2 million drivers. Israel generates annual device sales and service fees totaling approximately $2.5 million as of year-end 2010.
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Oxygen Biotherapeutics (Nasdaq: OXBT) Names Two New Board Members With Pharmaceutical Industry
Orlando, FL 12/19/11 (StreetBeat) – Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) today announced it has named Chris A. Rallis, Executive-in-Residence at Pappas Ventures, and Anthony A. DiTonno, President and Chief Executive Officer of Neurogesx Inc., to serve as members of the company's Board of Directors, effective December 15, 2011. The addition of these two directors increases the Board to five members.Mr. Rallis was elected to the Board's Audit Committee, bringing Oxygen back into compliance with NASDAQ's rules for the number of independent directors required for the Audit Committee.
"We are honored to have two executives of their caliber join us at this critical juncture. Chris and Tony bring a wealth of knowledge and experience to us that will add exceptional value to our strategic planning process and future endeavors," said Oxygen Chairman Dr. Ronald Blanck. "The skills and experience that they bring to the Board will be instrumental in shaping the future of our company as we pursue ischemic and topical indications with our perfluorocarbon-based products, both independently and with collaborators."
Mr. Rallis has been an Executive-in-Residence at Pappas Ventures, a life science venture capital firm based in Durham, NC, since 2008. Previously, he was President and Chief Executive Officer of ImmunoBiosciences, Inc., a vaccine technology company formerly located in Raleigh. He has served as a consultant for Duke University and Panacos Pharmacueticals, Inc., and is the former President and Chief Operating Officer of Triangle Pharmaceuticals, Inc., which was acquired by Gilead Sciences in January 2003 for approximately $465 million. While at Triangle, he participated in 11 equity financings generating gross proceeds of approximately $500 million. He was also primarily responsible for all business development activities which included a worldwide alliance with Abbott Laboratories and the in-licensing of 10 compounds. Earlier, he served in various business development and legal management roles with Burroughs Wellcome, Co. Mr. Rallis serves on the boards of Aeolus Pharmaceuticals and Adherex Technologies and chairs the Audit Committee of both boards. He received his A.B. degree in economics from Harvard College, Cambridge, MA, and a J.D. from Duke University, Durham, NC.
Mr. DiTonno is a senior level executive with a proven track record of successful experience in large, small and start-up companies in the pharmaceutical and medical device sectors. Currently, he is President and Chief Executive Officer of Neurogesx Inc. Among his many accomplishments, he has funded companies through a variety of financial arrangements including private and public financings, partnerships and debt. He has also been successful in gaining regulatory approvals in both the United States and European Union. Previously, he was Executive Vice President of Marketing and Sales at Enteric Medical Technologies Inc., which was acquired by Boston Scientific Company; President and Chief Executive Officer of Lifesleep Systems, Inc.; and Vice President and General Manager of Olcassen Pharmaceuticals, which was sold to Watson Laboratories. Early in his career, he held a variety of positions of increasing responsibility at Rorer Group, Inc. (Rhone Poulenc Rorer) and Wyeth Laboratories. Mr. DiTonno received an M.B.A. from Drexel University and a B.S. in Business Administration from St. Joseph's University, both in Philadelphia.
In other business, the Board of Directors elected existing Board member Gregory Pepin Chairman of the Compensation Committee, effective December 15, 2011.
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Trius says late-stage trial for skin infection drug meets study endpoint
Orlando, FL 12/19/11 (StreetBeat) – Trius Therapeutics, Inc. (Nasdaq:TSRX) announced today that tedizolid phosphate met the primary objective of non-inferiority for the efficacy outcome of early clinical response versus the comparator linezolid (Zyvox(R)) in patients with acute bacterial skin and skin structure infections (ABSSSI). Tedizolid also met all secondary efficacy outcomes in this first of two pivotal Phase 3 trials that were designed to support the filing of a New Drug Application (NDA) with the FDA as well as a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA).The pivotal Phase 3 trial, designated TR701-112, examined the efficacy and safety of a once daily 200 milligram dose of oral tedizolid phosphate over a 6-day course of therapy (followed by four days of placebo) versus a twice daily 600 milligram dose of oral linezolid over a 10-day course of therapy in 667 patients recruited across sites in North America, South America and Europe. In the Intent to Treat (ITT) analysis set, tedizolid achieved the primary objective of non-inferiority (10% non-inferiority margin) to linezolid in the primary and secondary efficacy endpoints.
Both tedizolid and linezolid were generally well tolerated with comparable overall safety profiles, with drug-related treatment emergent adverse events (TEAE) reported in 24.2% of tedizolid patients versus 31% of linezolid treated patients. Gastrointestinal adverse events were the most commonly reported TEAE, which were statistically significantly lower in tedizolid patients than in linezolid patients (16.3% vs. 25.4%; p=0.004).
"We are very pleased the trial demonstrated that a 6-day course of once daily oral tedizolid is as efficacious as a 10-day course of twice daily oral linezolid while showing an improved tolerability profile," said Jeffrey Stein, Ph.D., President and Chief Executive Officer of Trius. "We look forward to presenting the detailed results of this study, the first Phase 3 study to be conducted under the new regulatory paradigm, both in a peer reviewed journal and at a major conference in 2012."
Trius initiated the second Phase 3 trial of tedizolid phosphate in ABSSSI, designated TR701-113, for its intravenous (IV) to oral transition therapy in September of this year and expects to report top-line data in early 2013. The 113 study is the first clinical trial conducted in collaboration with Bayer HealthCare and will recruit patients in North and South America, Europe, Australia, New Zealand, and South Africa.
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Jakks Pacific (Nasdaq: JAKK) Shares Slump On Outlook Cut
Orlando, FL 12/19/11 (StreetBeat) --Jakks Pacific Inc's (Nasdaq: JAKK) shares slumped to their lowest levels in over 16 months, after the toymaker slashed its full-year outlook late on Friday, citing disappointing sales at the start of the holiday season.Shares of the company -- which makes toys under brands such as Pokemon, Hello Kitty and The Smurfs -- were trading down as much as 21 percent at $13.67 in Monday morning trade on Nasdaq.
"While we are not surprised the company will miss its prior earnings guidance, we do believe the magnitude of the miss is dramatic and shocking," BMO Capital Market analyst Gerrick Johnson wrote in a client note.
Jakks' new products, including the I Am TPain Microphone, BIG Hands and the Max Force line of toy blasters, were unsuccessful in the market, Johnson said.
On Friday, Jakks had forecast full-year adjusted earnings of 37-40 cents a share, on sales of $660 million, well below its earlier forecast of $1.32-$1.35 a share on sales of $770-$775 million.
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Magnesium Batteries Could Establish US Leadership in EV Battery Market
Orlando, FL 12/19/11 (StreetBeat)- www.InvestorIdeas.com, a leader in cleantech research and news for investors, reports on new developments in high efficient magnesium batteries. Magnesium production and demand has nearly doubled in the past 10 years, and now a global need for green vehicle solutions may spike the demand even further.
Hoping to be first to market with a magnesium battery for electric cars, Pellion Technologies, Inc (www.pelliontech.com) is developing low-cost rechargeable Magnesium Batteries with high energy density.
Competing with lithium-ion batteries, magnesium batteries will potentially be cheaper, more efficient and also address a new issue that has come to surface – safety.
According to the Advanced Research Projects Agency at the US Department of Energy site, “Pellion Technologies, an MIT spin-out company, will develop inexpensive high-energy-density rechargeable magnesium-ion batteries with the potential to disrupt current energy storage technologies for electric and hybrid-electric vehicles. To develop a game-changing 33 magnesium-ion battery, Pellion will leverage high throughput computational materials design, coupled with accelerated materials synthesis and electrolyte optimization, to identify new high-energy density magnesium cathode materials and compatible electrolyte chemistries. If successful, this project will develop the first commercial magnesium-ion battery and will establish U.S. technological leadership in this exciting new high energy battery chemistry for electrified vehicle applications.”
With US auto sales improving and global demand and pressure to address climate change with green automotive solutions, magnesium producer China Direct Industries, Inc. (NASDAQ:CDII) , is positioned with a substantial lead in market share of supplying pure magnesium and will be a key player in the green roads of the future.
China Direct Industries Inc, Inc. (NASDAQ:CDII), is a U.S. based company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries' unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets.
For more information about China Direct Industries, please visit http://www.cdii.net
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InvestorIdeas.com is a leader in investor stock research by sector. Sectors we cover include; cleantech and renewable energy stocks, biotech stocks, mining and gold stocks, energy stocks, water, tech, defense stocks, nanotech, agriculture and gaming.
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Eldorado Gold (NYSE: EGO) to buy European Goldfields for $2.4B
Orlando, FL 12/19/11 (StreetBeat)-- Canadian Gold and iron producer Eldorado Gold Corp.(NYSE: EGO) said Sunday it will buy European Goldfields Ltd. in a deal worth about $2.4 billion, increasing its ability to produce gold.The Vancouver, British Columbia, company said its offer values each European Goldfields share at 13.08 Canadian dollars ($12.59), based on Eldorado's closing stock price on the Toronto Stock Exchange Friday.
That comes to 2.5 billion Canadian dollars. It's a 10 percent premium to European Goldfields' closing price on the Toronto Stock Exchange Friday.
Eldorado said the deal will create a company with a market capitalization of about 11 billion Canadian dollars ($10.59 billion) and help diversify production. It expects to increase annual production to reach more than 1.5 million ounces of gold by 2015. In October, the company said it expected to produce 650,000 ounces of gold this year.
Eldorado operates in China, Turkey, Brazil and Greece. It has six active mines and other projects in development.
European Goldfields, which is based in Whitehorse, Yukon, operates a mine in Greece and is developing projects in both Greece and Romania. It said it has gold reserves of 10 million ounces within the European Union. It is also a partner of Aktor SA, the largest construction company in Greece.
"Integration of European Goldfields' business with our own will provide Eldorado with the dominant gold mining business in the Aegean Region," said Eldorado CEO Paul Wright in a statement Sunday. He added that European Goldfields' partnership with Aktor will help the combined company safely develop operations in Greece.
Under the deal proposed Sunday, European Goldfields stockholders will receive 0.85 Eldorado share and a fraction of a Canadian cent for each European Goldfields share.
The acquisition requires approval from a majority of Eldorado shareholders and two-thirds of European Goldfields shareholders. Shareholders from both companies will meet in February to vote on the deal.
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Seanergy Maritime (Nasdaq: SHIP) Rises On New Charter
Orlando, FL 12/19/11 (StreetBeat)-- Drybulk ship owner Seanergy Maritime Holdings Corp (Nasdaq: SHIP) said it entered into a new time-charter agreement for one of its four Capesize vessels, sending is shares as much as 17 percent.A time charter is a contract for the hire of a ship for a specified period of time.
Seanergy said the capesize vessel-- the biggest dry bulk ship type, which transports cargoes such as iron ore and coal -- was chartered for 11-13 months.
With this, about 70 percent of its 'ownership days', or capacity, for 2012 have now been chartered, the company added.
Shares of the Athens-based company were up 17 percent at $2.58 in early trade on Nasdaq on Monday.
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NavStar Technologies (PinkSheets: NVSR) Reports Progress on Fulfilling $4.5M Purchase Order
Tallahassee, FL 12/19/11 (StreetBeat) -- NavStar Technologies, Inc. (Pinksheets: NVSR), a company focused on producing and commercializing products and services for tracking/monitoring and reporting on the location and condition of high value cargo and other assets, has issued an update on their progress toward fulfilling a $4.5M PO for the US PowerSports market segment.PowerSport Business Industry continues to report strong sales in 2012 reversing a trend over the past several years. With more than 30,000 motorcycles stolen annually in the US and Canada the demand for a small inexpensive tracking and monitoring product and service has become the most desirable aftermarket accessory requested by PowerSport owners. NavStar is pleased to report great progress on developing an affordable solution to satisfy this demand.
The NavStar PowerSports device is 2″ x 2.5″ x .5″, has a rechargeable battery, is water and weather resistant, provides stolen vehicle recovery service as well as monthly monitoring and tracking service, has internal GPS and wireless antennas, and provides user alerts via SMS or email. The target delivery date is April 2012.
“The NavStar PowerSports hardware and service offering has been designed to solve several problems that have existed in this market segment for years,” said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc. “We have made the NavStar product very small, easy to install, affordable, an alarm system as well as a tracking/monitoring system, and will work anywhere in the US and Canada. Our goal by focusing on this market segment is to provide affordable products and services to address the needs of the 6.1M PowerSport owners in the US.”
About NavStar Technologies, Inc. NavStar is a rapidly growing provider of asset tracking products and services in the US and in emerging countries around the world. With a proven product and 20,000 units in service, we provide an affordable solution to protect and monitor high-value assets and cargo. NavStar’s overall goal is the creation of products and services which support a variety of market segments including, cars, trucks, recreational vehicles and people.
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