SARASOTA, Fla., Oct. 12, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Eagle Environmental Technologies Ltd., Reno, NV, (Pink Sheets:EGVR), Finisar Corp. (Nasdaq:FNSR), Hyperion Solutions Corp. (Nasdaq:HYSL) and BackWeb Technologies Ltd. (Nasdaq:BWEB).
Energy stock investors may want to take a look at a little known company called Eagle Environmental Technologies Ltd., Reno, NV, (Pink Sheets:EGVR). The company announced on Monday after the closing bell on the additional production of oil and gas wells in the company's "panhandle" properties beginning in late September. Eagle Environmental also went on to say that "the first wells in the area are producing gas only; however, the management feels that the true benefit to the company will be the recovery of the oil. This addition gives Eagle an increased cash flow needed to further the development of its other technologies that are very beneficial to the oil and gas industry and increase the shareholder value of the company."
Eagle Environmental Technologies Ltd. is a systems integration and environmental product development company concentrating on recycling and eliminating hazardous waste, water filtration systems and high performance coating removal systems, as related to the oil industry. EGVR is currently trading at around .25 a share.
On the Nasdaq;
Finisar Corp. (Nasdaq:FNSR)
Fiber-optic subsystems and components provider announced Monday that it has modified an agreement with Infineon Technologies AG (NYSE:IFX) that relates to the acquisition of Infineon's Fiber Optics business unit based in Berlin. Under the new agreement, Finisar will issue 110 million shares of its common stock to Infineon as against 135 million shares that would have been issuable under the original agreement. Infineon will hold a 33% equity interest in Finisar. Infineon would also provide financial assistance with respect to the costs of restructuring the operations of the Fiber Optics Business Unit and integrating those operations with Finisar's following the closing.
FNSR finished Monday's regular trading session up 2 cents at $1.30.
Hyperion Solutions Corp. (Nasdaq:HYSL)
Business performance management software provider Hyperion Solutions Corp. announced Monday that Yellow Pages Publisher R.H. Donnelley Corp. (NYSE:RHD) has selected the Hyperion's Financial Management Solution to provide centralized external management and cost center reporting. Hyperion said that its solution would also help extend reporting power to employees across the Donnelley's divisions.
Shares of HYSL closed Monday's regular trading session up 29 cents, at $35.93.
BackWeb Technologies Ltd. (Nasdaq:BWEB)
Offline Web software solutions provider BackWeb Technologies Ltd. announced before the bell on Monday the restructuring of the company, promoting the company's Vice-President Bill Heye to the CEO position. Ken Holmes, the company's corporate controller, has been promoted to Vice-President Finance.
They replace BackWeb's Chief Executive Officer, Erez Lorber, and Chief Financial Officer, Mike Morgan, who have announced they are leaving the company to pursue other career opportunities. The company said the restructuring initiative is expected to save $4 million annually.
BWEB closed Monday down a penny at $0.38.
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The newsletter is provided by eLocity Inc., an electronic broadcaster and publisher of this newsletter, is here after referred to as "the company". The company received compensation for newsletter services for Eagle Environmental (Public Company). The compensation is one hundred-fifty thousand free trading shares of EGVR from a non-affiliated third party. The company still retains all shares as of the date and time of this newsletter. Because the company received compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
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