WESTON, Fla., Jan. 7, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Bluetorch Inc. (OTCBB:BTOR), Tellabs Inc. (Nasdaq:TLAB), EMC Corporation (NYSE:EMC) and Advanced Micro Devices Inc. (NYSE:AMD).
Aggressive investors should keep their eyes on Bluetorch Inc. (OTCBB:BTOR) this morning! Yesterday after the markets closed, the company issued a press release announcing that one of its wholly owned subsidiaries, Total Sports Distribution Inc., signed a letter-of-intent with Colorado-based Collective Licensing International LLC to license the Airwalk(r) name for apparel in the United States market!
This could be great news for investors! The Airwalk brand, best known as one of the largest action sports brands in the world, has been marketing and selling apparel for just over two years through major U.S. retailers such as The Sports Authority and J.C. Penney. The impending licensing agreement would allow for Bluetorch's subsidiary Total Sports Distribution to start shipping product into the U.S. market in July 2004.
Bruce MacGregor, President and CEO of Bluetorch Inc. said, "By any standard, Airwalk qualifies as a major brand within our industry. The opportunity to work with a preeminent brand such as Airwalk is truly a tremendous milestone for our company. The Airwalk license will provide Bluetorch with a solid revenue platform for 2004, with the potential for tremendous revenue increases in 2005 and beyond. In the July 2003 issue of Sporting Goods Business, the top 50 sporting goods brands were ranked in terms of brand awareness, and only Quiksilver, among all the other action or extreme sport brands, ranked higher than Airwalk."
Added MacGregor, "We envision following the distribution road map that has already been initiated with Airwalk apparel, which encompasses selling into the department store channel, sporting goods chains and core snowboarding shops."
Keep your eye on this one! Bluetorch Inc. is an emerging extreme sports company that is rapidly establishing itself as a one-stop shop in the extreme sports industry with a multi-branded portfolio. Bluetorch Inc. presently markets and wholesales Bluetorch branded apparel and TSA Clothing. Beyond apparel, the Company's goal is to translate the Bluetorch name into a complete lifestyle brand focusing on an eclectic array of products for the core extreme sports enthusiast. The stock closed yesterday at twenty-nine cents a share.
Stocks showing interesting activity yesterday were: Tellabs Inc. (Nasdaq:TLAB) up 7.3% on 13.8 million shares traded, EMC Corporation (NYSE:EMC) up 2.8% on 15.8 million shares traded and Advanced Micro Devices Inc. (NYSE:AMD) up 2.7% on 14.5 million shares traded.
Commentary:
"The Institute for Supply Management said last week that the manufacturing index jumped to 66.2 percent in December from the previous month. The new figure was the best gain since December of 1983 for the sector. To understand the index a reading of 50 or less shows that manufacturing activity is contracting, over 50, and an expansion is at hand. From March through June of 2003 the index was at below 50. The manufacturing sector has lost a lot of jobs overseas, and this expansion seen in the latter months of 2003 shows some improvement. Economists say that there is still a way to go before the economy adds more jobs in this sector," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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Market commentary provided by Sonja Rudd.
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