WESTON, Fla., Aug. 11, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Infinity Music Corp. (Pink Sheets:IFMU), Alkermes Inc. (Nasdaq:ALKS), AmeriCredit Corp. (NYSE:ACF) and Sonic Solutions (Nasdaq:SNIC).
Aggressive investors and traders will want to watch Infinity Music Corp. (Pink Sheets:IFMU) again this morning! Yesterday after the markets closed, the company announced that it has set a release date for the first CD from Canadian country music artist Brad Johner!
This could be more great news for investors! On July 26, Infinity announced it had begun trading as a public company (although new as a public company, subsidiaries of the company have been in operation since 1977). Since that time, the company has announced that Destiny Row Records artist T.G. Sheppard signed a distribution deal to have his latest CD, "Timeless," distributed through the label's distributor, Navarre Corp., and it was just a few weeks ago that the company announced that its subsidiary, Infinity Records Nashville, had signed Collin Raye as the first artist for the new label. 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.
Investors should really continue to keep this company on their radar screen! According to the press release, the label also expects to be signing other well-known artists in the near future.
Johner is one of the most recognizable figures in Canadian country music. Along with his brother, Ken, Johner formed one of the most successful country music duos to ever hit Canada. During the '90s, the Johner Brothers released four albums which yielded more than two dozen singles to radio, many of which captured Top 20 status. The success resulted in considerable national attention, including three Juno nominations and two awards from the Canadian Country Music Association (CCMA), while the group earned three dozen Saskatchewan Country Music Association (SCMA) awards, including being named Entertainers of the Decade.
The stock closed yesterday at $1.20 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.
The Infinity Records Nashville web site is www.infinityrecordsnashville.com. Infinity Music's site is www.infinitymusiccorp.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Alkermes Inc. (Nasdaq:ALKS) up 21.3% on 3.3 million shares traded, AmeriCredit Corp. (NYSE:ACF) up 19.6% on 10 million shares traded and Sonic Solutions (Nasdaq:SNIC) up 13.3% on 1.7 million shares traded.
Commentary:
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