WESTON, Fla., Nov. 18, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: TechnoConcepts, Inc. (OTCBB:TCPS), Sirius Satellite Radio (Nasdaq:SIRI), AT&T Corporation (NYSE:T) and Kmart Holding Corporation (Nasdaq:KMRT).
Aggressive investors and traders need to watch TechnoConcepts, Inc. (OTCBB: TCPS) this morning! Yesterday after the markets closed, the company, developers of True Software Radio (TSR) technology, issued a press release announcing that it has completed financing of $5.8 million from institutional investors!
This could be great news for investors! Duncan Capital LLC served as the placement agent for this offering and the company is in the process of filing an 8K document outlining the specific details of the transaction.
Investors should continue to watch this company for more great news! "We are very pleased with our strategic banking partners," said Antonio Turgeon, Chairman and Chief Executive Officer of TechnoConcepts, Inc. "The new capital will accelerate the commercialization of our TSR technology to meet pending product applications."
David Fuchs, President of Duncan Capital commented: "We are very pleased and excited to be working with TechnoConcepts, Inc. as it continues to execute its growth strategy. Given the management's extensive industry knowledge, experience, strategic relationships and advanced technology, we foresee very strong prospects for the company. The Company has breakthrough technology and a great business model."
The stock closed yesterday at $3.70 a share.
In case you are not familiar with the company: TechnoConcepts, Inc. has developed a technology that enables competing wireless standards to understand each other by incorporating a transmitter/receiver (transceiver) based on a computer chip with TechnoConcepts' revolutionary True Software Radio (TSR) technology to process signals received from the antennae of wireless devices. With this technology, cell phone users will be able to enjoy seamless roaming anywhere in the world - police and fire departments will be able to talk to each other regardless of their radio systems - and military forces from various countries will be able to communicate with each other directly. TSR is a cost-effective technology that can allow for direct device-to-device communication. The company is working with a number of major wireless communications companies for the use of its technology in military, consumer and industrial applications. More information is available at http://www.technoconcepts.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Sirius Satellite Radio (NASDAQ: SIRI) up 5.1% on 123 million shares traded, AT&T Corporation (NYSE: T) up 1.3% on 3.9 million shares traded and Kmart Holding Corporation (NASDAQ: KMRT) up 7.6% on 28.7 million shares traded.
Commentary:
"Microsoft announced that they are expanding their software development operations in India, and opening a new campus near Hyderabad, the second after the one in Redmond, Washington. Microsoft has nearly 450 employees at its development center in its Hyderabad campus, and has room for up to 1600. Microsoft is not alone, Intel, General Electric and American Express are also out-sourcing work to India," Stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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