SAN FRANCISCO, July 14, 2006 (PRIMEZONE) -- California News Tech (OTCBB:CNTE), a leading technology company, today announced the results for the sentiment measurements of mid-June through the end of June. From a total of 32 companies reporting earnings between June 12, 2006 and June 30, 2006, MediaSentiment's(TM) analysis provided a positive sentiment for 53% and a negative sentiment for 47%.
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 88% of the analyzed stocks moved up or down according to the thumbs up/thumbs down recommendation from MediaSentiment HeadsUp(TM).
Nearly 25%, out of the full set of 32 stocks analyzed, moved more than 5% of their price value in the direction of the sentiment indicated by HeadsUp. Over 6% of the 32 stocks moved more than 10% in the direction of the sentiment. Of the Big Movers moving in a positive direction 20% were listed on the Nasdaq and 80% were listed on the NYSE. During the same period the Nasdaq Composite Index realized a 1.6% return and the NYSE Composite Index realized a 2.6% return.
Stocks Indicating Stronger Sentiment through a Positive Move of 5% or More:
Technology (Positive Symbols: 2) Oracle, Corp. (Nasdaq GS: ORCL), a 5.16% move on June 22, 2006 DynCorp International, Inc. (NYSE: DCP), a 13.31% move on June 19, 2006 Shipping/Transportation (Positive Symbols: 1) FedEx, Corp. (NYSE: FDX), a 5.23% move on June 21, 2006 Finance (Positive Symbols: 1) Bear Stearns Companies, Inc., (NYSE: BSC), a 6.26% move on June 16, 2006 Agriculture (Positive Symbols: 1) Monsanto Co. (NYSE: MON), a 8.76% move on June 29, 2006
Stocks Indicating Stronger Sentiment through a Negative Move of 5% or More:
Consumer Goods (Negative Symbols: 1) Innovo Group, Inc., (Nasdaq CM: INNO), a -12.99% move on June 29, 2006 Technology (Negative Symbols: 1) CA, Inc., (NYSE: CA), a -5.2% move on June 29, 2006 Health Care (Negative Symbols: 1) China Medical Technologies, Inc., (Nasdaq GS; CMED), a -9.34% move on June 16, 2006
If you would like to be added to California News Tech's investor email list please contact Zack Noory with Nexus Investor Relations at znoory@nexusir.com.
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. MediaSentiment(TM) consists 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 based on the sentiment behind their earnings reports. MediaSentiment's(TM) 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(TM) subscribers a competitive edge up on other traders and allowing them more profitable trading opportunities. For additional information on California News Tech, please visit www.mediasentiment.com.
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 risks and uncertainties. Actual results may vary 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 annual report and filings with the Securities and Exchange Commission.