SARASOTA, Fla., Sept. 22, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Gluv Corp. (Pink Sheets:GLVP), Priceline.com Inc. (Nasdaq:PCLN), NETGEAR(r), Inc. (Nasdaq:NTGR) and NewMarket Technology, Inc. (OTCBB:NMKT).
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;
Priceline.com Inc. (Nasdaq:PCLN)
After the closing bell Tuesday, e-commerce pricing system provider Priceline.com Inc. announced that it acquired Cambridge, UK-based Active Hotels Ltd., an Internet hotel reservation services, for $161 million in cash.
Priceline.com stated that it intends to retain Active Hotels' current management team, which would continue to manage Active Hotels as an independent business and added that Active Hotels' three top executives and selected other employees reinvested a portion of the acquisition proceeds back into the Active Hotels business.
The company said that it anticipated the acquisition to be accretive to its earnings for the fourth quarter 2004 and for calendar 2005.
PCLN closed Tuesday's trade at $19.60, up 10 cents, on a volume of 472,712 shares.
NETGEAR(r), Inc. (Nasdaq:NTGR)
Tuesday after the closing bell, branded networking products provider NETGEAR, Inc. announced that it is participating in the new VoIP Innovation and Interoperability Program (VIIP) established by AT&T (NYSE:T).
AT&T has designed VIIP to stimulate and foster the development, delivery and adoption of new applications, capabilities and devices to serve the needs of businesses and consumers utilizing AT&T's vast VoIP portfolio.
The program is based on proprietary specifications created by AT&T that have allowed, and will continue to allow, select vendors to test applications and equipment against these specifications to ensure compatibility with AT&T VoIP services as the company pursues the next generation of communication.
NETGEAR reported that it stands out among other silicon providers, software application developers, equipment manufacturers and IP PBX vendors to join VIIP as charter members for its focus on innovative, standards-based wired and wireless networking products for homes and small and medium-sized businesses.
Shares of NTGR closed Tuesday's regular trading session down 0.35 at $12.94, but was higher at $13.29 in after-hours trading following the news.
On The OTCBB;
NewMarket Technology, Inc. (OTCBB:NMKT)
Communication technology company NewMarket Technology, Inc. announced Tuesday it is entering into a definitive letter of agreement to acquire Gaozhi Communications in Shanghai, China. Gaozhi Communications is currently operated by Gaozhi Science and Technology Development Ltd. NewMarket will acquire a majority interest in Gaozhi Communications for cash and Gaozhi Science and Technology will remain as the second largest shareholder. NewMarket Technology has previously announced an upcoming Asia Pacific Information Technology Trade Mission for technology professionals and investors. The Trade Mission is scheduled for departure on Oct. 10, 2004.
"We believe our initial forecast for $10 million in 2005 revenue from China is conservative," said Philip Verges CEO of NewMarket.
New Market recently announced increasing its 2004 booked revenue forecast from $20 million to $24 million. The company forecasts a profitable annualized revenue run rate of over $50 million by year-end.
Shares of NMKT closed Tuesday's trading session at $0.63, up 0.08 on strong volume of 2,644,817 shares.
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