WESTON, Fla., Nov. 3, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Biogenerics Limited (Pink Sheets:BIGN), Microsoft Corporation (Nasdaq:MSFT), Intel Corporation (Nasdaq:INTC) and Cisco Systems, Inc. (Nasdaq:CSCO).
Aggressive investors and traders need to watch Biogenerics Limited (Pink Sheets:BIGN)! The company just issued a press release announcing the additional acquisition of oil and gas Interests by completing the purchase from 2021877 Ontario Inc. (the Vendor) and has acquired the agreed upon 30% of the Vendor's interest in certain petroleum and natural gas assets located in Southwestern Ontario!
This could be more great news for investors! After completing their due diligence the Board of Directors negotiated with Vendor to increase their original purchase by 20%, bringing their total holdings to 50%. The company has fully paid for the assets and looks forward to an exciting exploration and development program.
Investors watch this company! According to the press release, the Assets are comprised of varying working interests in producing and exploratory lands and reserves having significant upside production potential. Two producing wells and four shut-in oil and gas wells are included in the acquisition. Biogenerics Limited will continue to actively seek other potential high probability targets to add to its resource portfolio. The company is extremely excited about the current acquisition and the immediate cash flow resulting from the producing area.
The stock closed yesterday at Thirty-Four cents a share.
In case you are not familiar with the company: At Biogenerics Limited., everything they do contributes to the fulfillment of a dream. They are a diversified investment venture capital firm whose principal business is to fund emerging growth businesses with breakthrough proprietary products. Biogenerics' interests are primarily in companies which have solid proprietary technology in Application and Platform Software, Telecommunications and Fibre Optics Technologies and Biomedical Technology, as well as other emerging technology and environmentally sensitive product areas. Biogenerics also takes advantage of special situations and merchant banking opportunities and makes investments in other public companies in a variety of sectors, including oil and gas, mineral resources and precious metals.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Microsoft Corporation (Nasdaq:MSFT) up 0.5% on 88.7 million shares traded, Intel Corporation (Nasdaq:INTC) up 0.7% on 70.7 million shares traded and Cisco Systems, Inc. (Nasdaq:CSCO) up 0.1% on 37.8 million shares traded.
Commentary:
"How are some companies doing in the last half of 2004? Here is a snapshot: Proctor and Gambel's profits rose 14%, American Express profits were up also 14%, and ExxonMobil and ChevronTexaco saw their profits up amid sky high fuel costs," stated Mario Cardenas in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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