WESTON, Fla., Aug. 10, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Automotive Capital Group, Inc. (Pink Sheets:AOCP), Revlon Inc. (NYSE:REV), Ultratech Inc. (Nasdaq:UTEK) and Dillard's Inc. (NYSE:DDS).
Aggressive investors and traders should take a look at Automotive Capital Group, Inc. (Pink Sheets:AOCP) this morning! Yesterday after the markets closed, the company issued a press release announcing an agreement with three automotive dealerships to finance their vehicle sales.
This could be more great news for investors! The combined dealerships are expected to have auto sales of 70 per month. This agreement follows an earlier $7 million commitment from a Glendale, Arizona automotive dealer announced in July 2004. Current outside dealer gross contract financing is expected to be over $12,000,000.
The company's finance program is unique because it focuses on financing auto dealers for the $25 billion sub-prime automotive market, which banks generally neglect, and has created a finance program that charges favorable interest rates and at the same time is well protected from default vehicle loans.
It was just last week that the company announced its immediate plans to increase sales of around 100 automobiles each month to over 200. To accomplish this goal the company has launched several programs on the Internet, and is currently selling on eBay Motors (one of the first to offer financing to the buyer as part of the online auction). Most vehicles sold on eBay Motors need to get financed either before or after the auction closes. With Automotive Capital Group, financing is included.
Keep your eyes on this company! This week the company plans to launch two automobile Internet e-commerce sites. The company believes it can accomplish significant sales by using the Internet as a tool to educate sub-prime borrowers about the company's financing programs. Even without the vehicle website the company receives over 75 online applications per day.
The stock closed yesterday at forty cents a share.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Revlon Inc. (NYSE:REV) up 9.8% on 2.7 million shares traded, Ultratech Inc. (Nasdaq:UTEK) up 6% on 1.5 million shares traded and Dillard's Inc. (NYSE:DDS) up 5.6% on 5.8 million shares traded.
Commentary:
"The Dow, the Nasdaq, and the S&P 500 made a dash for the red last week as unemployment numbers came in at unexpected levels, according to analyst's expectations, and caused the unhappy downturn in the markets last Friday and Thursday," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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