SAN FRANCISCO, Aug. 1, 2006 (PRIMEZONE) -- California News Tech (OTCBB:CNTE), a leading technology company, today announced the results for the sentiment measurements of the last two weeks of July. MediaSentiment(tm) provided near real-time Thumbs Up/Thumbs Down recommendations for a total of 256 companies as they released earnings between July 17, 2006 and July 28, 2006, and rated the sentiment behind 62% of the symbols as positive and 38% as negative.
The correlation between MediaSentiment's Heads Up(r) predictions and highs and lows the day each rated company released earnings was approximately 75% for the last two weeks of July. This correlation reflects the move in price between highs or lows, depending on a Thumbs Up or Thumbs Down, during the trading period when each stock released earnings and the stock's closing price during the previous trading period.
During the week, over 35% out of the full set of 256 stocks forecasted moved more than 5% of their price value in the direction of the sentiment indicated by HeadsUp. Over 12% of all of the stocks analyzed moved more than 10% of their price in the direction of the sentiment indicated by HeadsUp. All of the Big Movers moved in a positive direction. Of the stocks moving over 10% in a positive direction, 65% were listed on the Nasdaq, 29% were listed on the NYSE, and another 6% were listed on the AMEX. During the same period the Nasdaq Composite Index realized about a 3% return, the NYSE Composite Index realized about a 4% return, and the AMEX Composite Index released about a 4% return.
MediaSentiment HeadsUp(r) cumulative results for Q3 2006 (July 1 - July 28):
Since the start of the third financial quarter of 2006, MediaSentiment(tm) has reported on a total of 270 symbols, and for 76% of these stocks, HeadsUp's recommendations correlated with change in price between previous day close, and the highs and lows for the trading period during which each stock released earnings. Out of all symbols recommended so far for Q3 2006, over 35% moved 5% in the direction MediaSentiment(tm) predicted.
Stocks Indicating Stronger Sentiment through a Positive Move of 10% or More:
Services (Positive Symbols: 2) Safeway Stores Inc. (NYSE:SWY), a 10.79% move on July 20, 2006 CDW Corp. (Nasdaq:CDWC), a 13.45% move on July 19, 2006 Technology (Positive Symbols: 8) Costar Group Inc, (Nasdaq:CSGP), a 10.85% move on July 26, 2006 Traffic.com Inc. (Nasdaq:TRFC), a 12.39% move on July 26, 2006 Harris Corp. (NYSE:HRS), a 13.00% move on July 26, 2006 Parametric Technology Corp. (Nasdaq:PMTC), a 10.61% move on July 26, 2006 Agere Systems Inc. (NYSE:AGR), a 25.67% move on July 25, 2006 KHV Industries Inc. (Nasdaq:KVHI), a 11.06% move on July 20, 2006 Rediff.com India Ltd. (Nasdaq:REDF), a 22.07% move on July 20, 2006 Datalink Corp. (Nasdaq:DTLK), a 17.16% move on July 19, 2006 Industrial Goods (Positive Symbols: 4) Stericycle Inc. (Nasdaq:SRCL), a 12.25% move on July 28, 2006 Dura Auto Systems (Nasdaq:DRRA), a 64.10% move on July 27, 2006 Trex Co Inc. (NYSE:TWP), a 21.25% move on July 27, 2006 Allis-Chalmers Energy Inc. (AMEX:ALY), a 33.13% move on July 20, 2006 Financial (Positive Symbols: 2) Macatawa Bank Corp. (Nasdaq:MCBC), a 10.15% move on July 17, 2006 WR Berkeley Corp. (NYSE:BER), an 11.23% move on July 25, 2006 Basic Materials (Positive Symbols: 1) Gulf Island Fabrication Inc. (Nasdaq:GIFI), a 24.46% move on July 26, 2006
Stocks Indicating Stronger Sentiment Through a Negative Move of 10% or More:
Technology (Negative Symbols: 8) Data IO Corp. (Nasdaq:DAIO), a -11.15% move on July 28, 2006 8X8 Inc. (Nasdaq:EGHT), a -11.34% move on July 27, 2006 Photon Dynamics Inc. (Nasdaq:PHTN), a -11.63% move on July 26, 2006 MRV Communications Inc. (Nasdaq:MRVC), a -18.15% move on July 26, 2006 Net Manage, Inc. (Nasdaq:NETM), a -13.93% move on July 21, 2006 Zhone Technologies, Inc. (Nasdaq:ZHNE), a -35.79% move on July 20, 2006 Advanced Micro Devices, Inc. (NYSE:AMD), a -15.80% move on July 20, 2006 UniSys, Corp. (NYSE:UIS), a -21.79% move on July 19, 2006 Consumer Goods (Negative Symbols: 2) Schweitzer-Mauduit International Inc. (NYSE:SWM), a -13.67% move on July 27, 2006 Johnson Controls, Inc. (NYSE:JCI), a -15.96% move on July 20, 2006 Services (Negative Symbols: 1) Domino's Pizza, Inc. (NYSE:DPZ), a -12.02% move on July 20, 2006 Healthcare (Negative Symbols: 2) Cardiac Science Corp. (Nasdaq:CSCX), a -14.73% move on July 28, 2006 I-Flow Corp. (Nasdaq:IFLO), a -17.69% move on July 27, 2006 Basic Materials (Negative Symbols: 2) Carpenter Technology Corp. (NYSE:CRS), a -16.09% move on July 26, 2006 Hydril Co. (Nasdaq:HYDL), a -16.55% move on July 25, 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. MediaSentiment(tm) 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(r) 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(r) 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 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.