WESTON, Fla., Oct. 7, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Payment Data Systems, Inc. (OTCBB:PYDS), MediaBay Inc. (Nasdaq:MBAY), Wolverine World Wide (NYSE:WWW) and Blue Coat Systems, Inc. (Nasdaq:BCSI).
Aggressive investors and traders should be watching Payment Data Systems, Inc. (OTCBB:PYDS) again this morning! Yesterday after the markets closed, the company (an integrated electronic payments solutions provider) issued a press release announcing that KUBRA has selected them to become its preferred electronic credit/debit card payment processor of choice!
This should be more great news for investors! Kubra is a leading provider of enterprise information solutions with a leading portfolio of Electronic Bill Presentment and Payment (EBPP) customers and processes hundreds of millions of dollars in consumer payments each year. The partnership provides for both a referral agreement and incentive warrants for a three-year term, renewable thereafter. Under the terms of the referral agreement PDS will become KUBRA's preferred provider of credit/debit card payment processing.
Investors keep your eyes on this one! According to the press release, along with opportunity for dramatic revenue growth as the result of referrals, the incentive warrants provided to KUBRA, upon exercise, create significant additional capital for PDS.
"When PDS was operating Billserv, KUBRA was our most respected EBPP competitor and has subsequently grown their North American business into hundreds of millions dollars in payment processing each year," said Mr. Louis Hoch, President and Chief Operating Officer. Hoch added, "If fully implemented, this mutually-beneficial partnership with KUBRA establishes substantial opportunities for revenue growth and access to capital, with little out of pocket expense for either party."
The stock closed yesterday at Twenty-Seven cents a share.
About the companies involved: Payment Data Systems, Inc., is an Integrated Payments Solution Provider delivering comprehensive, cost-effective solutions to billers and retailers for the processing and management of electronic payments via the Internet, point of sale, or payments taken by Customer Service Representatives or an Interactive Voice Response (IVR).
KUBRA is a leading provider of enterprise information solutions that create value for its customers in the form of enhanced access to new markets, reduced costs and increased profitability.
Stocks showing interesting activity yesterday at the close of the regular trading day were: MediaBay Inc. (Nasdaq:MBAY) up 33.3% on 4.6 million shares traded, Wolverine World Wide (NYSE:WWW) up 9.5% on 2.1 million shares traded and Blue Coat Systems, Inc. (Nasdaq:BCSI) up 14% on 1.6 million shares traded.
Commentary:
"Fannie Mae executives and their regulator squared off on Wednesday, with executives denying any accounting irregularity and the regulator saying the housing finance company's management may need to go. Office of Federal Housing Enterprise Oversight Director Armando Falcon told a House of Representatives Financial Services panel the regulator was "currently considering" if top Fannie Mae management changes are needed," stated Mario Cardenas in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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