WESTON, Fla. March 10, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: SoftNet Technology Corp. (OTCBB:STTC), Nextel Communications (Nasdaq:NXTL), MBNA Corporation (NYSE:KRB) and BEA Systems, Inc. (Nasdaq:BEAS).
Aggressive investors and day traders should be watching SoftNet Technology Corporation (OTCBB:STTC) this morning! Yesterday after the stock markets closed, the company issued a press release announcing that WholesaleByUs (WBU) expanded product distribution to www.pricegrabber.com and further added to the number of co-branders.
This could be great news for investors! According to the press release, this portal continues the rapid expansion of WBU, now that the technology and procedure changes are in place. Within one week, all 400,000 plus products will be placed through www.pricegrabber.com. Price grabber.com has 16 million unique visitors per month visit their website. Pricegrabber also has the best conversion rates in the industry. Additionally, by listing through pricegrabber.com, WBU will in essence be listing through 200 more portals. This further expands the wide array of distribution for suppliers who want to sell their products on the Internet through WBU.
Investors continue to watch this one! While WBU will continue to add more portals and more products, a focused effort is now in place to expand the number of co-branders selling through the WBU system. The number of items sold per day continues to increase as well as the amount of different types of products. Additionally, further work is being done to complete the process to sell products from Europe to Europe and the rest of the world.
"The continued expansion of the Company is very pleasing to see," stated Mr. James M. Farinella, CEO/President of SoftNet Technology. "The 2005 year has started off real strong and looks to continue with 100% growth per quarter through the end of the year."
For more in-depth coverage of SoftNet Technology, visit http://www.backissuesofnewsalerts.us/STTC0309.html
The stock closed yesterday at seventeen cents a share.
In case you are not familiar with the company: SoftNet Technology is a publicly traded company with wholly-owned subsidiaries -- including Wholesalebyus.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Nextel Communications (Nasdaq:NXTL) down 0.6% on 9.4 million shares traded, MBNA Corporation (NYSE:KRB) down 0.3% on 7.5 million shares traded and BEA Systems, Inc. (Nasdaq:BEAS) down 0.8% on 6.4 million shares traded.
Commentary:
"Fannie Mae is revamping its corporate structure in an effort to reclaim credibility. The new setup will split its chairman and CEO positions creating two jobs. Additionally, a new office will hear complaints from company employees. Fannie Mae is the biggest U.S. buyer of home mortgages. The Office of Federal Housing Enterprise Oversight supervises Fannie Mae and has been investigating its accounting," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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