SARASOTA, Fla., Oct. 8, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Playstar Inc. (Pink Sheets:PLYCF), Intuit Inc. (Nasdaq:INTU) and Sun Microsystems, Inc. (Nasdaq:SUNW).
Making news is Playstar Inc. (Pink Sheets:PLYCF). Playstar announced on Wednesday that its subsidiary V-Loan, has signed a definitive acquisition of 100% of the assets of Confida Group UK for $6,000,000 USD. Confida Group, a member of The General Insurance Standard Council, is a fully independent insurance and mortgage broker operating in Europe.
The company stated that, "The explosive growth we are witnessing in the U.S. marketplace is being replicated in Europe. Confida brings us a multi-national revenue base for our company to tap into."
On the Nasdaq;
Intuit Inc. (Nasdaq:INTU)
Finance software products provider Intuit Inc. reaffirmed its guidance for its first quarter and fiscal year 2005 after the closing bell Thursday.
The company reported that for the first quarter of fiscal 2005, it still expects to report pro forma net loss per diluted share of $0.29 to $0.25 and a GAAP net loss per diluted share of $0.32 to $0.28.
The company added that it expects to report first quarter revenues in the range of $251 million to $263 million, or year-over-year growth of 5 percent to 10 percent.
Shares of INTU closed Thursday's regular trading session at $45.31.
Sun Microsystems, Inc. (Nasdaq:SUNW)
Network computing products and services provider Sun Microsystems, Inc. announced Thursday after the closing bell that it entered into a formal settlement agreement with the Eastman Kodak Co. to settle all claims in pending litigation between the parties, without admitting or denying allegations.
Sun Microsystems stated that the settlement involves a cost of $92 million, and added that it would receive a license under all Kodak patents for the benefit of the Java technology and under the patents in the lawsuit in exchange.
Shares of SUNW closed Thursday's regular trading session at $4.23.
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