WESTON, Fla., Nov. 17, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Equus Resources, Inc. (Pink Sheets:EQUR), PeopleSoft, Inc. (Nasdaq:PSFT), Trizec Properties, Inc. (NYSE:TRZ) and Lucent Technologies Inc. (NYSE:LU).
Aggressive investors and traders will want to watch Equus Resources, Inc. (Pink Sheets:EQUR) this morning! Yesterday after the markets closed, the company issued a press release announcing that it is in active negotiations to acquire a property and casualty insurance company domiciled in the State of Texas.
This could be more good news for investors! According to the press release, this company plans to write insurance policies in at least 19 states during 2005. Its primary business will be writing and marketing specialty insurance products with low risk, low tail coverage exposure, and high financial performance.
In making this announcement, Randy Harris, President of Equus and a long-time licensed insurance agent himself, commented, "We firmly believe we will complete this acquisition in the next few weeks. In so doing, we will take a quantum leap forward for the insurance side of our company."
Investors will want to watch this one! It was just last week we reported that the company issued a press release announcing that its mortgage subsidiary, Team One Mortgage Services, has received an 8th straight quarterly performance award from Countrywide Financial Corporation, one of the largest and best known mortgage companies in the United States.
The stock closed yesterday at sixteen cents a share.
In case you are not familiar with the company: through their subsidiaries, Team One Mortgage Services and Team One Insurance Services, they provide their clients a one-stop-shop financial services solution by offering a broad range of mortgage and insurance products that aim to meet the needs of virtually all consumers. Equus believes that, as a single company examining all of a customer's financial needs, wants and resources, it can best serve its clients' immediate and long-range financial objectives. Furthermore, their goal is to close their loans in 10 days or less using a streamlined process, as compared with the national average of 32 days, and to do so for all borrowers, not just those with perfect or near perfect credit catered to by most of our competitors. For more information, please visit www.teamonemortgage.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: PeopleSoft, Inc. (Nasdaq:PSFT) up 0.8% on 33.5 million shares traded, Trizec Properties, Inc. (NYSE:TRZ) down 2.9% on 26.9 million shares traded and Lucent Technologies Inc. (NYSE:LU) down 5.4% on 82.7 million shares traded.
Commentary:
"In the auction at the U.S. Treasury, interest rates rose slightly; the three-month rate was at 2.07%, and the six-month was at 2.28%. These were up from 2.04% and 2.26% respectfully. There is one more meeting of the Federal Reserve in December," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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