MagneGas (OTCBB: MNGA) Adds Large Direct Fuel Customer in Suncoast Metals

Northern, WI 4/26/12 (StreetBeat) -- MagneGas Corporation (OTCBB: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today that it has reached an agreement with Suncoast Metals LLC (Suncoast) to provide MagneGas™ fuel for metal working. Suncoast, a full service metal recycling company with over $32 million in annual revenue, has agreed to use MagneGas™exclusively for their scrap operations and has accepted its first order of MagneGas™ fuel.

"By working with MagneGas, we are demonstrating our level of commitment towards improving the environment," stated Mike Allen, Vice President of Suncoast Metals, LLC. "We found MagneGas™ performance superior to other metal working fuels and this was a major factor in our decision. We are confident that using MagneGas™ will allow us to improve our productivity and reduce costs while continuing to provide our customers with exceptional service."

"Our continued growth is a testament to the fact that we are able to provide our customers with the performance and savings they expect when using MagneGas™ as the primary fuel option for their metal cutting needs," commented Scott Wainwright, President of MagneGas. "We look forward to furthering our relationship with Suncoast by providing the company with MagneGas™ as they continue to expand their metal cutting operations."

About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation is the producer of MagneGas™, a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.

The Company's patented Plasma Arc Flow™ process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas. MagneGas™ can be used for metal working, cooking, heating, powering bi fuel automobiles and more.

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Norfolk Southern Orders PbC Batteries for Locomotive Switcher from Axion Power (OTCBB: AXPW)

Northern, WI 4/26/12 (StreetBeat) -- Axion Power International Inc. (OTCBB: AXPW), the developer of advanced lead­carbon PbC® batteries and energy storage systems, announced that it has received an order from Norfolk Southern Corp. for PbC batteries for use in a battery-powered locomotive. Axion said this first $400,000 purchase order is part of a $475,000 total purchase order to be shipped and deployed over the next three to four months that will be used in the commissioning of Norfolk Southern's NS-999. To date, this is the largest single PbC battery order that Axion has received. No further details were disclosed.

"We have been working with Norfolk Southern for two and a half years, and we are very pleased that this first hybrid 'switcher' yard locomotive, to be run completely on PbC batteries, will soon be in service,” said Axion Power Chairman & CEO Thomas Granville.

A yard switcher locomotive is used in a train yard to assemble and disassemble long trip over-the-road trains as well as for general movement of railroad cars around the rail yard.

According to the Axion chief, the companies are working together to deploy the first “over the road” locomotive powered by Axion batteries. The larger unit will require approximately twice the number of 100-percent recyclable batteries as the yard switcher.

“High-performance PbC batteries are ideally suited for hybrid locomotive applications due to their high charge acceptance, fast charge and discharge capabilities (important in regenerative braking), and their inherent ability to equalize voltage when utilized in large string configurations," explained Granville.

Shares of AXPW are holding an uptrend in 2012; closing 2011 at 27 cents before surging to 64 cents late in January. Shares cooled from the highs, but are still holding support above a 37 cent support level with yesterday’s close at 43 cents.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

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3 Things to Know Before Trading

Northern, WI 4/26/12 (StreetBeat) -- Stocks were generally little changed in Asian trade. The Hang Seng was among the best with a gain of 0.8% and Australia was up a third of a percent, but the Nikkei and Shanghai were essentially unchanged. European indexes are mixed this morning; the Footsie is unchanged and the Dax is down 0.4%, but Spain is off by about two percent right now. US stock futures are unchanged as I write.

*German states are releasing the April reading of their Consumer Price Indexes this morning, including: Saxony +0.1% on the month and +2.0% year on year; Brandenburg +0.2% and +2.1%; Hesse +0.2% and +1.9%; Bavaria +0.3% and +2.2% and North Rhine Westphalia +0.2% and +1.7%. The national CPI is due out at 7:00am CDT, it is expected to be +0.1% on a month on month basis and +2.2% year on year, for the EU harmonized version.

*In March in the UK there were 31,888 loans for house purchase, according to the British Bankers Association; that’s a couple thousand less than anticipated.

*Exxon and UPS are among the companies due to report earnings today.

*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 375k. The March reading of Pending Home Sales is due out at 9:00am CDT, it is forecast to be up one percent from the month before.

*There are a couple of regional Fed reports on the calendar today. The March reading of the Chicago Fed National Activity Index is set to be released at 7:30am CDT; it was -0.09 in February. The Kansas City Fed Manufacturing Activity Index is due out at 10:00am CDT, it is expected to be down two points from the month before at 7.

*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is expected to show an increase of 45 bcf.

*The Fed is scheduled to buy Treasuries today that are due to mature between 2/15/36 and 2/15/42; the results of the operation will be announced just after 10:00am CDT.

*The Treasury plans to sell $29 billion 7 Year Notes today; the auction results will be announced just after noon CDT.

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Rackwise Inc (OTCBB: RACK) Hitting 52 Week Highs after U.S. Army Expands Use of Rack Solutions

Northern, WI 4/25/12 (StreetBeat) -- Rackwise, Inc. (OTCBB: RACK), a leading developer of data center infrastructure management software and service solutions, announced today that the U.S. Army Corps of Engineers (“USACE” or the “Corps”) has significantly expanded utilization of the Company’s deployedDCiM™ solution to manage its primary and satellite data centers.

A Rackwise, Inc. customer since 2010, USACE is virtualizing assets to optimize storage in both their primary and multiple remote data centers. Ensuring consistent, timely and accurate asset information across all data centers is essential to optimizing footprints and costs while providing necessary IT infrastructure to support the Corps’ various projects and programs. The Rackwise®DCiM™ solution is a critical component of the USACE information technology strategies for managing both rack and floor space as well as data virtualization and storage optimization efforts. To this end, USACE is leveraging the Company’s education services to substantially expand the Corps’ Rackwise® DCiM™ solution user base, enabling greater utilization of available features and functionality to expedite achieving operational objectives while accelerating return on investment.

Guy A. Archbold, Rackwise, Inc. Chief Executive Officer, commented, “Rackwise® DCiM™ solutions are emerging as the solutions of choice providing data center and infrastructure technology professionals powerful, state-of-the-art tools for real-time data management to maximize operational efficiencies and economic benefits. The U.S. Army Corps of Engineers decision to significantly expand its utilization of our solutions further highlights the progressive incremental value customers can achieve with our product and service offerings. We continue to take great pride in knowing that when the U.S. Army Corp of Engineers supports our nation’s environmental resources and infrastructure, Rackwise is supporting the Corps’ technology infrastructure, enabling them to successfully pursue their mission to strengthen our Nation's security, energize the economy, and reduce risks from disasters.”

About the U.S. Army Corps of Engineers

The U.S. Army Corps of Engineers has approximately 37,000 dedicated civilians and soldiers delivering engineering services to customers in more than 90 countries worldwide.

With environmental sustainability as a guiding principle, the Corps of Engineers works diligently to strengthen our Nation’s security by building and maintaining America’s infrastructure and providing military facilities where service members train, work and live. The Corps of Engineers also researches and develops technology for U.S. military forces that protect America’s interests abroad by using the Corps’ engineering expertise to promote stability and improve quality of life.

The Corps energizes the economy by dredging America’s waterways to support the movement of critical commodities and providing recreation opportunities at our campgrounds, lakes and marinas. Additionally they devise hurricane and storm damage reduction infrastructure to reduce risks from disasters. The men and women in the Corps of Engineers are helping to protect and restore the Nation’s environment including critical efforts in the Everglades, the Louisiana coast, and along many of our Nation’s major waterways. The Corps is also cleaning sites contaminated with hazardous, toxic or radioactive waste and material in an effort to sustain the environment.

About Rackwise, Inc.

Rackwise, Inc. is a leader in software development and marketing within the growing markets for IT infrastructure, data center monitoring, management and optimization, data center cost efficiency and green data centers and its branded Rackwise® Products and Services are used throughout the world. Its flagship data center infrastructure management suite of products and service offerings, DCiM™ Solutions, are used by over 150 companies worldwide to track, manage, plan, optimize and provide cost analysis of IT infrastructure.

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Novelos Therapeutics (OTCBB: NVLT) Successful Completion of First Cohort In Lung Cancer Trial

Northern, WI 4/25/12 (StreetBeat) -- Novelos Therapeutics, Inc. (OTCBB: NVLT), a pharmaceutical company developing novel drugs for treatment and diagnosis of cancer, today announced that the University of Wisconsin Carbone Cancer Center, a leading oncology research institution, has successfully completed the first cohort in a Phase 1-2 positron emission tomography (PET) imaging trial of I-124-CLR1404 (LIGHT), a cancer-targeted PET imaging agent, in patients with advanced non-small cell lung cancer (NSCLC). The first cohort comprised three patients dosed with LIGHT at 5 mCi. Details of the trial design are available atwww.clinicaltrials.gov ID: NCT00582283, or at www.novelos.comin the "Clinical Trials" section. Anne M. Traynor, M.D., is the trial's principal investigator. Detailed trial results are expected to be presented at a scientific venue at a later date.

"The preliminary results from the first cohort are encouraging. We see strong uptake of LIGHT in cancerous tumors against very low background and have not observed any adverse safety signals," said Dr. Traynor. "Although still early and in a small number of subjects, there is some suggestion that LIGHT imaging was more tumor-selective than the comparator modality 18F-fluorodeoxyglucose (18F-FDG) PET."

"Having observed initial cancer-specific uptake with LIGHT at 5 mCi in NSCLC patients, we now look forward to evaluating the next dose level in this indication," said Kim Hawkins, Vice President of Clinical Development of Novelos. "The protocol was prospectively designed to dose three patients at 3 mCi in the next cohort, as we seek to identify a minimally effective dose, and we look forward to obtaining these results in a few months."

"We are very pleased with the positive initial LIGHT imaging data in lung cancer patients obtained to date, and with our collaboration with the UW Carbone Cancer Center," said Harry Palmin, President and CEO of Novelos. "We believe these data begin to establish proof-of-concept for LIGHT as a PET imaging agent for NSCLC, could advance our partnering discussions and could be used to calculate effective doses for Phase 2 clinical trials of I-131-CLR1404 (HOT). HOT is our chemically identical small-molecule, broad-spectrum, cancer-targeted molecular radiotherapeutic that delivers cytotoxic radiation directly and selectively to cancer cells and cancer stem cells."

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American Liberty Petroleum (OTCBB: OREO) Announces Foreland Refining's Crude Oil Purchase Contract

Northern, WI 4/25/12 (StreetBeat) -- American Liberty Petroleum Corp. (OTCBB:OREO) is pleased to announce that on April 19, 2012, Foreland Refining Corporation ("Foreland") signed an agreement to purchase all of the Company's crude oil production from the Gabbs Valley oil field in Nye County, Nevada. Foreland operates the Eagle Springs Refinery in Ely, Nevada, in neighboring White Pine County to the east. The refinery receives crude oil from Nevada's Railroad Valley and other oil wells to process into asphalt, diesel fuel and other petroleum products.

Foreland signed the crude oil purchase agreement with Independence Drilling LLC, the designated operator for a joint venture ("the JV") between American Liberty Petroleum, Cortez Exploration LLC and Desert Discoveries LLC. The JV was formed to acquire and develop oil and gas properties in Nevada with the aim of petroleum production.

According to the terms of the crude oil purchase agreement, Foreland will pay the "Big West Oil" Black Wax crude posting adjusted for gravity and B.S. & W. and less freight delivered to Foreland's Eagle Springs Refinery. Foreland will make its payments via wire transfer of funds on the 20th day of the month following the month of delivery.

American Liberty Petroleum's President, Alvaro Vollmers, commented: "We're fortunate to now have an agreement in place with a nearby refiner for the purchase of all subsequent production from our Gabbs Valley-based activities. Our next step is to maximize on the production potential of the Paradise 2-12 well while further exploring our other opportunities in the area.”

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

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Iconix (Nasdaq: ICON) 1Q profit falls, cuts outlook, shares drop

Orlando, FL 4/25/12 (StreetBeat) -- Shares of Iconix Brand Group Inc. (Nasdaq:ICON) tumbled 10 percent Wednesday morning after the clothing company reported that first-quarter net income fell 12 percent, hurt by weaker demand in its men's division and the delayed closing of a deal.

Results missed expectations and Iconix cut its forecast.

Iconix, which licenses clothing brands such as Candie's, Mossimo and London Fog, said net income for the three months ended March 31 fell to $27.6 million, or 37 cents per share. That compares with $31.4 million, or 42 cents per share, in the same months last year. Excluding a one-time charge related to interest expenses, net income was 43 cents per share, shy of analyst expectations of 45 cents per share.

Revenue fell 4 percent to $88.5 million from $92.4 million a year ago. Analysts expected revenue of $95 million.

Iconix said it is still waiting on government approval for a joint venture with Indian company Reliance Industries Group to sell Iconix's fashion brands in India, part of its plan to expand its international business. The deal was announced in February and was expected to close this quarter. It would have contributed $5 million to $6 million in revenue and 4 cents to 5 cents per share in net income. The company expects the deal to close in the second quarter, which ends in June, saying the delay "is purely a timing issue."

Iconix wants to increase international revenue, especially from fast-growing regions in Asia and Latin America, to a third of its business.

Also on Wednesday, Iconix cut its guidance due to weakness in its men's division, particularly Rocawear, Ecko and Ed Hardy, and other delays in international plans. The company said there are global initiatives it doesn't expect to complete this year.

It now expects adjusted net income in 2012 will be $1.65 to $1.74, from prior guidance of $1.77 to $1.84 per share. Analysts expect net income of $1.79 per share.

Iconix predicts 2012 revenue of $340 million to $350 million, from prior guidance of $370 million to $385 million. Analysts expect revenue of $377.5 million.

Shares fell $1.76, or 10.3 percent, to $15.26 in morning trading. The stock has ranged from $14.36 to $26.05 over the past 12 months, and is down about 7 percent in 2012.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

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