SARASOTA, Fla., June 24, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep an eye on Schnitzer Steel (Nasdaq:SCHN), Avanex Corporation (Nasdaq:AVNX) and UgoMedia Interactive Corp. -- (Pink Sheets:UGMI).
"Sciax Provides Wolf Pack Instruction to Department of Homeland Security Personnel."
That was the headline from UgoMedia Interactive Corp. -- (Pink Sheets:UGMI) (name change to Sciax Corporation pending). UgoMedia announced Wednesday after the close that "the company has been given an opportunity to provide instruction on Wolf Pack technology to students enrolled in training courses conducted by the Immigration and Customs Enforcement (ICE) Firearms and Tactical Training Division. ICE is part of the U.S. Department of Homeland Security and the Training Division provides programs to many agencies falling under the purview of DHS." UGMI trades at around .11 a share. Go to, http://www.sciax.com and have a look at Sciax Corporation today.
On the Nasdaq making a move Wednesday was Schnitzer Steel (Nasdaq:SCHN).
SCHN traded very well Wednesday with no news to report of. The stock traded well on volume of 2,191,177 to end the day at $30.61, up $3.62 a share. Schnitzer Steel claims to be one of the nation's largest recyclers of ferrous metals, a manufacturer of finished steel products and a leading self-service used auto parts retailer. The company, with its joint venture partners, processes approximately 4.9 million tons of recycled ferrous metals per year. In addition, the company's steel mill has an annual production capacity of approximately 700,000 tons of finished steel products. The company and its joint venture partners operate primarily along the West Coast and Northeastern seaboard of the United States.
Also trading well on the Nasdaq Wednesday was Avanex Corporation (Nasdaq:AVNX). Avanex announced on June 21 the selection of Aegis Semiconductor as a primary supplier for its PowerWatcher(tm) Network Ready Optical Channel Monitor. The Avanex PowerWatcher is a fully integrated network-ready solution, and it is now available with the Aegis OCM (Optical Channel Monitor) tunable thin-film technology. The stock traded 6,058,872 shares ended at $3.72.
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