WESTON, Fla., Dec. 3, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Magic Lantern Group, Inc. (AMEX:GML), General Electric Company (NYSE:GE), Time Warner Inc. (NYSE:TWX) and Sirius Satellite Radio (Nasdaq:SIRI).
Aggressive investors and traders need to watch Magic Lantern Group, Inc. (AMEX:GML) again this morning! Yesterday after the markets closed, the company issued a press release announcing that through the Company's digital conversion and streaming technology subsidiary, Sonoptic Technologies, Magic Lantern Group (MLG) is in the process of converting all of its nearly 20,000 exclusive titles from VHS onto DVD and digital streaming formats. Content will be available on DVD format and direct to consumers and institutions via the Internet, with current access on desktops, wireless laptops and kiosks worldwide.
This should be great news for investors! President and CEO of MLG Bob Goddard stated, "The institutional video market historically follows the trends of the consumer home entertainment industry. According to recent industry reports, DVD sales have accounted for 83% of all new video sales. MLG is already active in implementing new technologies for online delivery. With digital and DVD conversion, we hope to capitalize on this market shift to digital technology. Such offerings may lead to additional revenues outside of North America."
Investors should continue to watch this company for more great news! Dom Vetro, MLG Senior Vice President of International Sales, stated, "We recently were called upon to convert one customer's library onto digital formats, which resulted in an immediate $200,000 order entirely in DVD format. We believe that many similar orders will follow the conversion of additional titles. Our conversion capabilities allow us to breathe new life into existing videos and archived catalogs. In addition, we are keeping pace with our institutional clients as they update and replace their analog video content with the latest digital formats. I most recently returned from China and S.E. Asia having met with government and institutional buyers in final negotiations for our digital streaming services. As we finalize and execute pending contracts, we expect continued record growth in our digital technology sales."
In mid-November, the company announced that for the first nine months of 2004, their e-commerce sales had increased by 5-fold compared to the same period last year!
For more in depth coverage of Magic Lantern Group, visit http://216.63.242.254/GML1203.htm
The stock closed yesterday at Thirty-Nine cents a share.
In case you are not familiar with the company: Magic Lantern Group, Inc., in business for nearly 30 years, operates several, strategic subsidiaries, including: Magic Lantern Communications, a global distributor of videos from more than 300 world-renowned producers; Magic Vision Digital Media, Inc., a provider of digital on-demand solutions for the sports entertainment, health care, human resource, and corporate compliance industries; Sonoptic Technologies, a leading provider of third-generation digital technology solutions; and Parasol Video, an online digital video library enterprise for worldwide educational markets. For more information, visit: http://www.magiclanterngroup.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: General Electric Company (NYSE:GE) down 0.2% on 15.8 million shares traded, Time Warner Inc. (NYSE:TWX) up 0.1% on 14.3 million shares traded and Sirius Satellite Radio (Nasdaq:SIRI) up 4% on 264.2 million shares traded.
Commentary:
"This season, handing out a gift card can be expensive to both the giver and the receiver. A study by Consumer Reports Money Advisor found that the cards issued by banks charged up-front fees from $3.95-$11.95 and monthly fees of $1.25-$4.95," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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