WESTON, Fla., Nov. 19, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Airtrax, Inc. (OTCBB:AITX), Applied Materials, Inc. (Nasdaq:AMAT), Sun Microsystems, Inc. (Nasdaq:SUNW) and Intel Corporation (Nasdaq:INTC).
Aggressive investors and traders need to watch Airtrax, Inc. (OTCBB:AITX) this morning! Yesterday after the markets closed, the company, a developer of patented, omni-directional technology with military and commercial applications, issued a press release announcing that it has entered into a 5-year international distribution agreement with EMCON General Trading LLC, located in Dubai, United Arab Emirates for the purchase of three Sidewinder(tm) Omni-Directional Lift Trucks!
This should be great news for investors! Peter Amico, Airtrax President and CEO, stated, "This international agreement is a testament to the global appeal and scope of our product's applications. Deemed a 'disruptive technology,' our omni-directional vehicles offer one of the world's most innovative alternatives to existing forklift options. Through demonstrating our product, potential users and purchasers can experience unprecedented maneuverability and increased usage of warehouse space. Our distribution agreement with EMCON General Trading LLC results in immediate sales of approximately $120,000, with potential recurring sales of $2 million or more beginning in 2005."
Investors should continue to watch this company for more great news! The agreement is effective through 2009, at which time it may be automatically renewed for an additional three years. The yearly sales requirement for EMCON's elected area of responsibility (APR) is the countries of United Arab Emirates, Qatar and Bahrain. According to the agreement, EMCON will use Airtrax's Sidewinders for demonstration purposes and to promote the sale of Sidewinders throughout its APR.
The stock closed yesterday at $1.16 a share.
In case you are not familiar with the company: A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the U.S. Navy in the form of a Cooperative Research and Development Agreement.
The SIDEWINDER(tm) Omni-Directional Lift Truck and the MEC-Airtrax Phoenix(tm) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. Unlike any other lift truck, the SIDEWINDER or the Phoenix AWP can turn 360 degrees in its own footprint, allowing warehouses to utilize 20 to 30% more of existing space. The nearly maintenance-free design also drastically reduces maintenance costs, delivering tremendous cost efficiencies to companies both large and small. The omni-directional wheel is manufactured by The Timken Company under exclusive production rights to Airtrax. For more information and to view a must-see product demonstration, visit http://www.airtrax.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Applied Materials, Inc. (Nasdaq:AMAT) up 1.7% on 97 million shares traded, Sun Microsystems, Inc. (Nasdaq:SUNW) down 0.1% on 43 million shares traded and Intel Corporation (Nasdaq:INTC) up 1.9% on 66.2 million shares traded.
Commentary:
"The Senate has voted to raise the debt cap to 8.18 trillion. The government reached its 7.38 trillion debt ceiling last month and could still not pay the bills. The Treasury Department was paying federal bills by borrowing cash from civil service retirement accounts. This is a change from the 5.6 trillion in surpluses that were projected for the next 10 years in 2001. Whew, and you thought you had trouble paying your bills," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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