WESTON, Fla., Feb. 24, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: BGR Corp. (OTCBB:BGRR), NPTest Holding Corporation (Nasdaq:NPTT), Lipid Sciences Inc. (Nasdaq:LIPD) and Novatel Wireless Inc. (Nasdaq:NVTL).
Aggressive investors may be watching BGR Corp. (OTCBB:BGRR) this morning! Yesterday after the markets closed, the company, a franchiser of concept restaurants, issued a press release announcing it has agreed to enter into an agreement with The Beilman Group to develop, implement and monitor the food purchasing program for all of BGR's corporate and franchised restaurants!
This could be good news for investors! The Beilman Group, formed in 2001 by former wholesale distribution executives, is the premier procurement service company specializing in the U.S. food industry. They will increase BGR's level of expertise and focus in the area of procurement through the use of their "purchasing program" which was developed to change the way products are bought and sold in the food industry. The Beilman Group helps strip excess costs out of the supply chain, and makes the procurement process more efficient for both buyers and suppliers.
According to the press release, BGR's corporate and franchised restaurants will benefit from the relationship with The Beilman Group by saving money, effort and time. Suppliers benefit by gaining access to new business, enjoying large drop sizes and receiving commitments to large volumes of sales. Through the agreement with BGR, The Beilman Group will contract with each of BGR's concepts to negotiate with all suppliers, perform an analysis of proposals and review any supplier contracts. The Beilman Group also will conduct audits of all suppliers and act as an intermediary for any issues pertaining to food purchasing.
"Our association with American Restaurant Development Corp. (ARDC) is already starting to pay dividends. Their contacts within the restaurant industry will continue to bring groups like The Beilman Group to us. The Beilman Group's services are custom tailored to the individual and unique needs of our concepts and franchisees, who will greatly benefit from utilizing The Beilman Group by lowering their cost of product, spending less time and effort in procurement, having better control of purchasing and an overall better peace of mind," stated Jerry Brown, CEO of BGR Corp.
The stock closed yesterday at thirty cents a share.
In case you are not familiar with the company: BGR Corp. is a franchise development company that targets emerging and undervalued franchise concepts. The company is introducing a line of new restaurant brands that fall into the broad category of "fast-casual" dining. BGR will provide the necessary elements to grow these brands by partnering with the existing restaurant companies, thereby owning equity directly in these brands and by providing the concepts a total Franchise Turnkey Program.
Stocks showing interesting activity yesterday were: NPTest Holding Corporation (Nasdaq:NPTT) up 15.7% on 4.9 million shares traded, Lipid Sciences Inc. (Nasdaq:LIPD) up 6.8% on 1.3 million shares traded and Novatel Wireless Inc. (Nasdaq:NVTL) up 5.5% on 1 million shares traded.
Commentary: Four Economic Indicators
"Consumer Confidence: Since 1946, the University of Michigan has tried to gauge the economic condition and direction by asking consumers how they feel. The consumer confidence survey is pegged to a 1966 benchmark equal to 100 points. It hit a low of 51.7 points in 1980, a high of 112 points in January 2000, and currently is reading 93.1 points. Unlike other indicators, consumer confidence is based on perceived and not exact numbers," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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