WESTON, Fla., March 16, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Wellstone Filters Inc. (OTCBB:WLSF), Magal Security Systems (Nasdaq:MAGS), Innovo Group Inc. (Nasdaq:INNO) and Viewpoint Corporation (Nasdaq:VWPT).
Aggressive investors will want to watch Wellstone Filters Inc. (OTCBB:WLSF) again this morning! Yesterday after the markets closed, the company issued a press release confirming that it is in discussions to acquire a company in the pharmaceutical industry!
This could end up being great news for investors! According to the press release, the potential acquisition involves a product whose safety and efficacy has been established and has been in discussions for licensing its technology with several pharmaceutical companies. Revenues stemming from such an acquisition would aid in Wellstone's discovery and development of possibly even more effective filtration systems. The release also states that Wellstone is continuing its headway on the next generation filter. Good science takes time and it is committed to meet the desires of U.S. tobacco companies by selectively removing certain carcinogens.
The company states that the identity of the acquisition cannot be disclosed due to confidentiality concerns.
The stock closed yesterday at $1.23 a share
In case you are unfamiliar with the company: Wellstone Filters has developed and patented a filter that effectively removes carcinogens and other toxins produced when tobacco is smoked -- without removing the compounds responsible for the pleasurable effects of smoking. Wellstone seeks to promote material for cigarette filters that will enable major cigarette manufacturers to provide consumers with an equally enjoyable cigarette with substantially fewer carcinogens. If people must smoke, the Wellstone filter mitigates but does not eliminate the health risks. Wellstone believes there is no safe cigarette, and that smoking kills. For more information, please see Lowertar.com.
Stocks showing interesting activity yesterday were: Magal Security Systems (Nasdaq:MAGS) up 22.3% on 1.3 million shares traded, Innovo Group Inc. (Nasdaq:INNO) up 15.4% on 1.1 million shares traded and Viewpoint Corporation (Nasdaq:VWPT) up 13% on 4.9 million shares traded.
Commentary:
"It is a big day at the Federal Reserve as Chairman Greenspan meets Tuesday with policy makers to consider interest rates. The Fed's current 1 percent level is unlikely to change according to many experts, however, the wording of any statements, carefully dissected by experts, is used to determine if there is any hint of the future direction of interest rates. Last Thursday Chairman Greenspan, speaking in Washington D.C., expressed confidence that the still sluggish U.S. job market will pick-up and warned Congress about not taking any 'protectionist' steps in the evolving out-sourcing job markets," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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