WESTON, Fla., July 29, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Infinity Music Corp. (Pink Sheets:IFMU), inTEST Corporation (Nasdaq:INTT), Zoran Corp. (Nasdaq:ZRAN) and Garmin Ltd. (Nasdaq:GRMN).
Aggressive investors and traders will want to watch Infinity Music Corp. (Pink Sheets:IFMU) this morning! Yesterday after the markets closed, the company issued press release announcing that its subsidiary, Infinity Records Nashville, has signed Collin Raye as the first artist for the new label.
This could be great news for investors! Company president George Collier said Raye's first Infinity single will be released in October and a full album will follow in January 2005.
Raye has a string of hits dating back to 1991, when he hit No. 1 with "Love Me". Since then, he has had a total of 15 songs go to No. 1, and he has also had 15 No. 1 music videos. Country Music Television (CMT) lists four of his videos among the top 100 music videos of all time.
Raye started attracting critical and popular attention in 1991 with the release of his debut album "All I Can Be". By 1997, he had been nominated for male vocalist of the year by both the Country Music Association and the Academy of Country Music. In the following years, he went on to receive numerous awards and nominations. He remains very much in demand for concerts, and he performs more than 100 live dates each year.
Investors should really keep this company on their radar screen! "This is a great signing for Infinity Records," Collier said. "It's our initial signing for this label, and I'm excited to debut with someone of Collin Raye's stature. He is one of the best voices in country music, and we look forward to a long relationship with Collin and his management."
Infinity Records Nashville is distributed by Navarre Corp. of New Hope, Minn.
The stock closed yesterday at Eighty cents a share.
In case you are not familiar with the company: Infinity Music Corp. is a St. Augustine, Fla.-based company, which was formed through a series of mergers between companies in different areas of entertainment, including record labels, a recording studio, concert management and a broadcast production company. Its subsidiaries are Retrophonics West Recording Studio; Media Works Communications, a broadcast services company; Infinity Records Nashville; Lou-Do Music, a concert production and artist management company; and Jeshaiah Records, a Christian music label. Some of the key components of Infinity have been in operation since 1977.
Stocks showing interesting activity yesterday at the close of the regular trading day were: inTEST Corporation (Nasdaq:INTT) up 42.2% on 1.6 million shares traded, Zoran Corporation (Nasdaq:ZRAN) up 17.6% on 7.2 million shares traded, Garmin Ltd. (Nasdaq:GRMN) up 12.1% on 5.1 million shares traded.
Commentary:
"Consumer confidence jumped in July to 106.1 from June's 102.8, a two year high. Economists were expecting a 102. The survey is done on a monthly basis of 5,000 U.S. households. This is the fourth straight month of increase," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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