SARASOTA, Fla., Sept. 22, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Gluv Corp. (Pink Sheets:GLVP), TIBCO Software Inc. (Nasdaq:TIBX), Endo Pharmaceuticals Holdings Inc. (Nasdaq:ENDP) and China Finance, Inc. (OTCBB:CHFI)
Investors may want to swing over and check out Gluv Corp. ("Gluv") (Pink Sheets:GLVP). Gluv announced after the closing bell Tuesday that its "subsidiary SDS Productions, LLC, an Alabama-based digital communications company has delivered a completed video and DVD project to Discovery Clubs of Alabama. The completion follows a five-month production schedule that involved extensive on-location filming as well as high-end digital compositing, music composition and animation." The company went on to say that, "With the completion of this project, SDS Productions will begin turning the majority of its production efforts toward the creation of specialized training modules for the defense and security industries." GLVP is currently trading between .06 - .08 a share.
On the Nasdaq;
TIBCO Software Inc. (Nasdaq:TIBX)
Independent business integration software company TIBCO Software Inc. released third quarter financial results after the bell Tuesday, reporting GAAP earnings that increased from last year on higher revenues.
On GAAP basis, TIBCO Software reported net income for the quarter of $8.57 million, or $0.04 per share, compared to $2.72 million, or $0.01 per share, in the same period last year. On a non-GAAP basis, the company posted net income of $14.5 million, or $0.07 per share for the quarter. The company added that its non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles and expensing of acquired in-process research and development, and assume a non-GAAP effective tax rate of 38 percent.
Revenues for the quarter rose to $105.9 million, up 60 percent from $66.1 million posted in the year-ago quarter. License revenues for the third quarter were $57.4 million, the company added.
Shares of TIBX closed Tuesday's regular trading session at $7.51, up $0.13 or 1.76 percent on a volume of 4.5 million shares.
Endo Pharmaceuticals Holdings Inc. (Nasdaq:ENDP)
Endo Pharmaceuticals Holdings Inc. announced Tuesday that the US Court of Appeals for the Federal Circuit in Washington has scheduled the oral arguments relating to the appeal of Endo's patent litigation with The Purdue Frederick Company regarding Endo's AB-rated bioequivalent version of Purdue's OxyContin, on November 3, 2004.
The company stated that on January 12, 2004 Purdue filed a Notice of Appeal, petitioning the U.S. Court of Appeals for the Federal Circuit to overturn the Opinion and Order issued in Endo's favor by the U.S. District Court for the Southern District of New York, as announced on January 5, 2004. Endo Pharmaceuticals added that the Opinion and Order dismissed Purdue's claims that Endo's oxycodone extended-release tablets, 10mg, 20mg, 40mg and 80mg, infringe Purdue's U.S. Patent, declaring the patents invalid and enjoining Purdue from enforcing these patents.
ENDP closed Tuesday's session higher by 1.21 at $18.23, on above average volume of 2,906,249 shares.
On The OTCBB;
China Finance, Inc. (OTCBB:CHFI)
China Finance, Inc., a Shenzhen, China-based loan provider to small and medium enterprises, announced Tuesday it signed an agreement with Billion Electronics Limited, a Hong Kong based company, and a U.S. listed OTC BB company.
The company said it conducted the required due diligence and background investigations for the two companies which will enable a timely and accurate completion of the transaction. China Finance has positioned itself to bridge the gap between China's rapidly growing SMEs demand for loan and surety guarantee services and China's immature banking system.
CHFI closed Tuesday at $3.85, an increase of 46.95 percent, or 1.23, on above average volume.
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