SAN FRANCISCO, Aug. 16, 2006 (PRIMEZONE) -- California News Tech (OTCBB:CNTE), a leading technology company, today announced the results for the sentiment predictions of the last two weeks of July. Media Sentiment(r) provided near real-time Thumbs Up /Thumbs Down predictions for a total of 223 companies as they released earnings between July 31, 2006 and August 11, 2006, and rated the sentiment behind 44% of the symbols as positive and 56% as negative. During the same period both the Nasdaq and the New York Stock Exchange reflected this negative sentiment prediction. The Nasdaq Composite Index realized about a -1.4% return and the NYSE Composite Index realized about a -1.1% return.
The correlation between Media Sentiment's Heads Up(r) predictions and highs and lows the day each rated company released earnings was approximately 85% for the first two weeks of August. 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 33% out of the full set of 223 stocks forecasted moved more than 5% of their price value in the direction of the sentiment indicated by Heads Up. Around 11% of all of the stocks analyzed moved more than 10% of their price in the direction of the sentiment indicated by Heads Up. Of the stocks moving over 10% in a positive direction 83 % were listed on the Nasdaq and 17% were listed on the NYSE.
Media Sentiment Heads Up(r) cumulative results for Q3 2006 (July 1 - August 11):
Since the start of the third financial quarter of 2006, Media Sentiment(r) has reported on a total of 493 symbols, and for 80% of these stocks, Heads Up'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 33% moved 5% or more in the direction Media Sentiment(r) predicted.
Stocks Indicating Stronger Sentiment through a Positive Move of 10% or More:
Industrial Goods (Positive Symbols: 1)
H&E Equipment Services, Inc. (Nasdaq: HEES), a 11.17% move on August 10, 2006
Services (Positive Symbols: 2)
Viasys Healthcare Inc. (NYSE: VAS), a 10.40% move on August 8, 2006 Huron Consulting Group Inc. (Nasdaq: HURN), a 10.75% move on August 8, 2006
Basic Materials (Positive Symbols: 2)
Central Garden & Pet Co. (Nasdaq: CENT), a 15.69% move on August 2, 2006 Gulfmark Offshore Inc. (Nasdaq: GMRK), a 10.02% move on July 31, 2006
Technology (Positive Symbols: 1)
Diodes Inc. (Nasdaq: DIOD), an 11.67% move on August 2, 2006
Stocks Indicating Stronger Sentiment Through a Negative Move of 10% or More:
Technology (Negative Symbols: 5)
Concurrent Computer Corp. (Nasdaq: CCUR), a -20.11% move on August 11, 2006 Verso Technologies Inc. (Nasdaq: VRSO), a -11.70% move on August 11, 2006 OpenTV Corp. (Nasdaq: OPTV), a -11.07% move on August 10, 2006 Cepheid (Nasdaq: CPHD), a -25.03% move on August 8, 2006 Per-Se Technologies Inc. (Nasdaq: PSTI), a -15.51% move on August 8, 2006
Consumer Goods (Negative Symbols: 2)
Treehouse Foods Inc. (NYSE: THS), a -13.22% move on August 10, 2006 Spatialight Inc. (Nasdaq: HDTV), a -11.54% move on August 10, 2006
Services (Negative Symbols: 1)
Worldspace Corporation (Nasdaq: WRSP), a -35.56% move on August 10, 2006
Healthcare (Negative Symbols: 6)
Acusphere Inc. (Nasdaq: ACUS), a -22.79% move on August 10, 2006 Oscient Pharmaceuticals Corp. (Nasdaq: OSCI), a -17.21% move on August 8, 2006 Inspire Pharmaceuticals Inc. (Nasdaq: ISPH), a -10.79% move on August 8, 2006 AP Pharma Inc. (Nasdaq: APPA), a -15.69% move on August 8, 2006 Praecis Pharmaceuticals Inc. (Nasdaq: PRCS), a -14.92% move on August 4, 2006 Symmetry Medical Inc. (NYSE: SMA), a -24.76% move on August 2, 2006
Financial (Negative Symbols: 3)
Fieldstone Investment Corp. (Nasdaq: FICC), a -17.40% move on August 10, 2006 Quanta Capital Holdings Ltd. (Nasdaq: QNTA), a -11.63% move on August 8, 2006 HomeBanc Corp. (NYSE: HMB), a -12.20% move on August 7, 2006
Industrial Goods (Negative Symbols: 1)
Comstock Homebuilding Companies Inc. (Nasdaq: CHCI), a -27.95% move on August 7, 2006
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About California News Tech
California News Tech's Media Sentiment(r) offers a range of services, available at www.publicmemory.com and www.mediasentiment.com, which focus on helping users analyze the contents of the public mind, and enabling online investors to make faster and better investment decisions, respectively. Serving traders who are interested in fast, reliable investment tools, Media Sentiment(r) Heads Up offers timely and accurate information to help take advantage of market opportunities. Media Sentiment(r) 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, Media Sentiment(r) Heads Up creates thumbs up / thumbs down recommendations for stocks almost instantly based on the sentiment behind their earnings reports. Media Sentiment'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 Media Sentiment(r) Heads Up recommendations often best leading financial news sources, giving Media Sentiment(r) 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.