WESTON, Fla., Jan. 28, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: SoftNet Technology Corp. (OTCBB:STTC), Owens-Illinois, Inc. (NYSE:OI), LSI Logic Corporation (NYSE:LSI) and Andrew Corporation (Nasdaq:ANDW).
The good news continuing to pour out of SoftNet Technology Corporation (OTCBB:STTC) should keep aggressive investors and traders watching the stock this morning! Yesterday the company issued a press release announcing that the company's CEO/President (Mr. James M. Farinella) continues to purchase its shares in the open market. According to the press release, Mr. Farinella has purchased over 1,300,000 shares of STTC over the past several months.
This could be more great news for investors! The CEO mentioned that the technology and procedure changes made in December have enable WBU to make advances in January that have exceeded his expectations. Additionally, the excitement is building over the rollout of the media blitz by TVA Productions. The media blitz is in the final stages of setup and should be started in the month of February.
It normally takes 30 to 45 days to see a jump in sales after certain portals are added and after new products are added. However, sales are starting to respond sooner than expected. Additionally, excitement by STTC's CEO about the Company's other wholly owned subsidiary, Solutions Technology, is also being cited as a reason for the purchases. Many developments with the SecureTime System have occurred that should result in actual sales being achieved soon.
Investors continue to watch this one! "I buy stock in STTC not because of one day, one week or one month of activity within the Company but for what the future holds," stated Mr. James M. Farinella, CEO/President of SoftNet Technology. "What people fail to realize is we are just in the infancy stages as a company and great things are yet to come. I have made STTC the largest holding in my portfolio because of the long-term outlook of the company."
In recent weeks, the company reported that WholesaleByUs (WBU) had expanded to the European Market and that the WBU System is now live. The 11 countries in and around the European Community that sales have begun include: The United Kingdom, Spain, Sweden, Switzerland, Netherlands, Italy, Ireland, Germany, France, Belgium and Austria. The company has reported that its wholly-owned subsidiary, WholesaleByUs (WBU) has expanded its product distribution to include www.bidmix.com, www.ubid.com, www.closeoutheadquarters.com, www.Froogle.com and Overstock.com.
For more in-depth coverage of SoftNet Technology, visit http://216.63.242.254/STTC0127.htm
The stock closed yesterday over twenty cents a share.
In case you are not familiar with the company: SoftNet Technology is a publicly traded company with wholly-owned subsidiaries -- Solutions Technology and WholesaleByUs. Solutions Technology's plan centers around the company's ability to offer a complete Biometric turnkey solution for a small or mid-sized company that needs to collect time and attendance, scheduling, entitlements, and personal/pay records. With a seamless interface to payroll services, it provides the client with one of the most cohesive time and attendance management systems available anywhere.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Owens-Illinois, Inc. (NYSE:OI) up 11.8% on 6.4 million shares traded, LSI Logic Corporation (NYSE:LSI) up 10.2% on 10.4 million shares traded and Andrew Corporation (Nasdaq:ANDW) up 8.6% on 8.7 million shares traded.
Commentary:
"The NYSE is thinking of opening for 2 additional workday hours. John Thain, their CEO, claims that earlier trading will lure more overseas business and stem erosion in market share. Electronic and manual trading from rivals such as the Archipelago Exchange have taken away some market share, although the NYSE still has 80 percent of the business," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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