WESTON, Fla., Feb. 26, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Surface Tech, Inc. (Other OTC:SFCI), SPEEDCOM Wireless Corp. (OTCBB: SPWC), SAVVIS Communications (Nasdaq:SVVS) and Nexus Telocation Systems (OTCBB:NXUS).
Aggressive investors may have their eyes on Surface Tech Inc. (Other OTC:SFCI) this morning! Yesterday after the markets closed, the company issued a press release announcing that it has issued a letter of intent and entered into negotiations for the purchase of Horsepower Speed & Marine, Inc.!
This could be the beginning of more great news for investors! "This is one more step in acquiring companies, early in their development, that have large upside potential," said Jeremy Preston, president of Surface Tech.
Horsepower Speed & Marine is currently a major distributor for Magna Charger(tm) automotive Superchargers. In addition, Horsepower Speed & Marine is now developing a new twin supercharger for General Motors' 572 Cubic Inch marine engine. This new combination will produce 1200 horsepower while running on 93 octane pump gas. This will have a major impact for the marine industry.
Chris Pittman, chairman of Surface Tech, commented, "Magna Charger performance equipment can be marketed through many of the same auto dealers we now service with our alloy wheel process."
The stock closed at forty cents a share yesterday.
Keep your eyes on this company! Surface Tech is the only company that has a patented method to resurface alloy wheels without removing them from the car. The company's licensed technicians provide low-cost solutions to high-priced problems for over 4,000 automobile dealerships, auto auctions and car rental agencies through licensed technicians in 35 states.
Stocks showing interesting activity yesterday were: SPEEDCOM Wireless Corp (OTCBB:SPWC) up 42.8% on 725,100 shares traded, SAVVIS Communications (Nasdaq:SVVS) up 24.8% on 2.8 million shares traded and Nexus Telocation Systems (OTCBB:NXUS) up 23% on 850,800 shares traded.
Commentary:
"Housing has also spurred purchases of materials, furnishings, appliances and is responsible for a great deal of employment. This activity affects companies such as Home Depot Inc., Lowe's, Whirlpool Corp. and furniture stores such as La-Z-Boy Inc. The Commerce Department reports that sales of new houses rose 1.4 percent in January from December," sated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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