WESTON, Fla., June 17, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: WebSky, Inc. (Pink Sheets:WBSK), Greg Manning Auctions Inc. (Nasdaq:GMAI), Avigen Inc. (Nasdaq:AVGN) and Somanetics Corporation (Nasdaq:SMTS).
Aggressive investors need to look at WebSky, Inc. (Pink Sheets:WBSK) this morning! Yesterday after the markets closed, the company issued a press release announcing that it, represented by its President and Chief Executive Officer, attended the recent annual meeting of the Wireless Communications Association held in Washington, D.C.!
This could be great news for investors! Among the many important developments in the licensed wireless broadband sector was the announcement by Craig McCaw, President of Clearwire, Inc. that his company was entering the licensed frequency broadband market with an aggressive program of frequency acquisition in the 2.5 to 2.69 GHz band ("2.5 GHz band") in the United States and similar frequencies overseas, as well as an expedited system launch. It was further revealed at the meeting that Clearwire's equipment provider will be NextNet Wireless.
WebSky, and its current management, has long considered the 2.5 GHz band as the optimum spectrum for high speed, broadband wireless Internet service. WebSky and its predecessor company, have controlled licenses in that spectrum within the United States for several years and have recently begun an aggressive program of similar-frequency acquisition in emerging markets. In 2003, WebSky selected NextNet's innovative and flexible hardware solution as its equipment of choice for its anticipated build out. The decision by Clearwire and its President Mr. McCaw to actively develop projects in the 2.5 GHz band and to select NextNet as its equipment provider, is seen by WebSky as an affirmation of the company's long-standing business model.
Keep your eyes on this company! WebSky currently has licensed frequency rights for seven small and medium sized cities in the United States. Clearwire does not own licenses in any of those seven cities and, because the requirement of licensed frequencies creates a barrier to entry of competing operations, the Clearwire announcement will enhance the ability of WebSky to construct its systems in the United States and attract subscribers. The wireless broadband systems of both Clearwire and WebSky will provide a variety of services to their subscribers, including data and voice-over-Internet-protocol.
The stock closed yesterday at twelve cents a share. Until recently, WebSky Inc. was trading under (Pink Sheets:WBSY). Check this symbol for additional news.
In case you are not familiar with the company: WebSky, Inc. is a San Francisco based company that currently controls licensed radio frequencies in the 2.5GHz band in seven small and medium sized cities in the United States -- in Key West, Florida; Ukiah, California; Las Crosse, Wisconsin; Grand Rapids, Michigan; Hilo, Hawaii; Aspen, Colorado; and Vail, Colorado. The Company will be constructing high speed, wireless broadband Internet systems. In each of the locations where it is currently licensed to provide such services, and in prospective locations it is considering, the Company will be the first provider of such services to subscribers. WebSky is currently actively exploring additional opportunities to acquire such rights in other United States cities and has also entered into preliminary agreements for several international locations, including Thailand and Indonesia. It recently announced the acquisition of a majority interest in Digital Way, a Peruvian wireless broadband provider with some 4,000 connections in the Lima area.
Stocks showing interesting activity yesterday were: Greg Manning Auctions Inc. (Nasdaq:GMAI) up 29.5% on 2 million shares traded, Avigen Inc. (Nasdaq:AVGN) up 14.6% on 620,800 shares traded and Somanetics Corporation (Nasdaq:SMTS) up 10.7% on 399,300 shares traded.
Commentary:
"The Federal Reserve in a monthly report, the Beige Book, reported Wednesday that inflation increases were modest, that jobs were being added to the payrolls at a better than expected clip and that lending and housing numbers were considered strong. Gasoline prices the last week fell from the $40.50 per barrel spike to just over $37 per barrel," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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