SAN FRANCISCO, June 13, 2006 (PRIMEZONE) -- California News Tech (OTCBB:CNTE), a leading technology company, today announced the results for the sentiment measurements of the second week of May through the first week of June. From a total of 249 companies reporting earnings between May 8, 2006 and June 8, 2006, MediaSentiment's analysis provided a positive sentiment for 39% and a negative sentiment for 61%.
A correlation was established between the closing price of the MediaSentiment HeadsUp(tm) analyzed stock on the trading day before the earnings announcement and the relevant price, the high or the low, of the stock symbol on the trading day following the announcement. Approximately 86% of the analyzed stocks moved up or down according to the thumbs up/thumbs down recommendation from MediaSentiment HeadsUp(tm).
Nearly 37%, out of the full set of 249 stocks analyzed, moved more than 5% of their price value in the direction of the sentiment indicated by HeadsUp. Over 20% of the 249 stocks moved more than 10% in the direction of the sentiment. Over 5% of the 249 stocks moved more than 20% in the direction of the sentiment. Of the stocks moving over 20% in the predicted direction, 50% of the positive Big Movers trade on the NYSE and 50% trade on the AMEX. Of the stocks moving over 20% in the predicted direction 75% of the negative Big Movers trade on Nasdaq, 17% trade on NYSE, and 8% trade on AMEX. During the same period the Nasdaq Composite Index realized a -8% return, NYSE Composite Index realized a -7% return, and the AMEX realized a -6% return.
Stocks Indicating Stronger Sentiment through a Positive Move of 20% or More:
Consumer Goods (Positive Symbols: 1) Movado Group, Inc. (NYSE: MOV), a 23.65% move on June 1, 2006 Health Care (Positive Symbols: 1) Medifast, Inc. (AMEX: MED), a 20.75% move on May 15, 2006
Stocks Indicating Stronger Sentiment through a Negative Move of 20% or More:
Defense / Aerospace (Negative Symbols: 2) United Industrial, Corp. (NYSE: UIC), a 20.75% move on May 8, 2006 Air Methods, Corp. (Nasdaq NM: AIRM), a 20.79% move on May 9, 2006 Consumer Services (Negative Symbols: 1) Expedia, Inc. (Nasdaq NM: EXPE), a 26.91% move on May 11, 2006 Consumer Goods (Negative Symbols: 1) dELiA*s, Inc. (Nasdaq NM: DLIA), a 20.21% move on June 5, 2006 Technology (Negative Symbols: 7) Genayre Technologies, Inc. (Nasdaq NM: GEMS), a 41.85% move on May 9, 2006 Magnetek, Inc. (NYSE: MAG), a 29.81% move on May 12, 2006 A Consulting Team, Inc. (Nasdaq SC: TACX), a 27.41% move on May 15, 2006 Apogee Technology, Inc. (AMEX: ATA), a 21.48% move on May 15, 2006 Blue Coat Systems, Inc. (Nasdaq NM: BCSI), a 22.65% move on May 24, 2006 Credence Systems, Corp. (Nasdaq NM: CMOS), a 28.75% move on May 25, 2006 Finisar, Corp. (Nasdaq NM: FNSR), a 28.41% move on June 7, 2006 Health Care (Negative Symbols: 1) Biolase Technology, Inc. (Nasdaq NM: BLTI), a 26.82% move on May 9, 2006
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About California News Tech
California News Tech's MediaSentiment(tm) offers a range of services, available at www.mediasentiment.com, which focus on helping online investors make faster and better investment decisions. Serving traders who are interested in fast, reliable investment tools, MediaSentiment(tm) offers timely and accurate information to help take advantage of market opportunities. MediaSentiment9tm) consists of a number of indices that measure NYSE and Nasdaq companies' earnings reports and news media coverage as positive, negative or neutral. In particular, MediaSentiment HeadsUp(tm) creates thumbs up / thumbs down recommendations for stocks almost instantly based on the sentiment behind their earnings reports. MediaSentiment's exclusive technology provides users with up-to-the-minute information, vital to investing, and provides a significant edge on other investors on predicting market movements. The speed and comprehensiveness of MediaSentiment HeadsUp(tm) recommendations often best leading financial news sources, giving MediaSentiment subscribers a competitive edge up on other traders and allowing them more profitable trading opportunities.
Forward looking statement: Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, uncertainties in product demand, the impact of competitive products and pricing, changing economic conditions around the world, release and sales of new products and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission.