SAN FRANCISCO, May 1, 2006 (PRIMEZONE) -- California News Tech (OTCBB:CNTE), a leading technology company, today announced the results for the sentiment measurements of the first three weeks of the earnings season. From a total of 109 companies reporting earnings during the first three weeks of April, April 3, 2006 through April 27, 2006, MediaSentiment's analysis provided a positive sentiment for 45% and a negative sentiment for 26%.
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 71% of the analyzed stocks moved up or down according to the thumbs up/thumbs down recommendation from MediaSentiment HeadsUp(tm).
Furthermore, nearly 25%, out of the full set of 109 stocks analyzed, moved more than 5% of their price value in the direction of the sentiment indicated by HeadsUp. 9% of the 109 stocks moved more than 10% in the direction of the sentiment.
Stocks indicating stronger sentiment through a positive move of 10% or more
Technology sector Datalink Corp (Nasdaq:DTLK), a 49.41% move on Wednesday, April 12, 2006, Consumer Services Bed, Bath and Beyond, Inc. (Nasdaq:BBBY), a 10.13% move on Thursday, April 6, 2006 Marinmax, Inc. (NYSE:HZO), a 10.46% move on Thursday, April 20, 2006 Consumer Goods Wolverine Worldwide, Inc. (NYSE:WWW), a 16.74% move on Wednesday, April 19, 2006 Support Services Manpower, Inc. (NYSE:MAN), a 11.81% move on Tuesday, April 18, 2006 Basic Materials Peabody Energy Corp (NYSE:BTU), a 11.66% move on Tuesday, April 18, 2006
Stocks indicating stronger sentiment through a negative move of 10% or more
Health Care Vasomedical, Inc. (Nasdaq:VASO), a 13.04% move on Thursday, April 13, 2006 Industrials Briggs and Stratton Corp (NYSE:BGG), a 12.83% move on Thursday, April 20, 2006 Layne Christensen Co. (Nasdaq:LAYN), a 12.27% move on Tuesday, April 4, 2006 Telecom Zhone Technologies, Inc. (Nasdaq:ZHNE), a 12.22% move on Friday, April 21, 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(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(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.