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U.S. Nov. PPI 2.0% vs. 0.7% expected:
By Robert Schroeder
Last Update: 8:30 AM ET Dec 19, 2006
http://tinyurl.com/y5xv9m
WASHINGTON (MarketWatch) -- Producer prices rose by much more than expected in November, with the core producer price index rising by the most since July 1980, the Labor Department said.
The November producer price index climbed by 2%, the biggest rise since November 1974, statistics show.
Most of the gain in the headline producer price number was in energy prices, which rose by 6.1%
Of that, 17.9% was gasoline prices, while 14.6% was diesel fuel.
Economists surveyed by MarketWatch were expecting the PPI to rise by 0.7%. They also forecast a 0.3% rise in the core PPI.
U.S. Nov. PPI 2.0% vs. 0.7% expected:
By Robert Schroeder
Last Update: 8:30 AM ET Dec 19, 2006
http://tinyurl.com/y5xv9m
WASHINGTON (MarketWatch) -- Producer prices rose by much more than expected in November, with the core producer price index rising by the most since July 1980, the Labor Department said.
The November producer price index climbed by 2%, the biggest rise since November 1974, statistics show.
Most of the gain in the headline producer price number was in energy prices, which rose by 6.1%
Of that, 17.9% was gasoline prices, while 14.6% was diesel fuel.
Economists surveyed by MarketWatch were expecting the PPI to rise by 0.7%. They also forecast a 0.3% rise in the core PPI.
We're sorry to hear about...
Your Mother's passing Bruce...You have our Condolences...
Bad PPI numbers today...The Market is going to...
PULLBACK today!...It needed a pullback anyway IMO...
The Dow futures already dropped 15 points on this news to -41 but has now given back ten points to -31
Edit: Dow futures are only down -21 now, Nasdaq -14, S&P -4
Bellwether Report Large-Cap Newsletter:
December 18th 2006
Will Oracle Be Great?
The market came out of the gate nicely this morning, only to falter, with investor angst once again being reflected in the migration to blue chips. Part of the problem for the NASDAQ today is Oracle’s earnings announcement, which has a lot of investors sitting on pins and needles. Larry Ellison has mounted an impressive charge (just goes to show what could happen if you stop digging in your rivals’ garbage and simply go to work), but after $20.0 billion in acquisitions the bear argument is back in play, that the company is still too tied to a database market that simply isn’t growing the way it once did.
I’m not so sure I buy that assertion but the anxiety is real. The good news for investors is this is the kind of doubt that builds long-term rallies; in fact, the current leg of the 2006 rally came from surprisingly strong earnings results over the last few weeks.
Current Account Deficit:
Third quarter 2006 current account deficit came in slightly higher than expected but at a new high mark. One compelling and not so exciting trend is the income payment made to foreign holders of US assets, the figure has trailed the US income on its assets abroad, until the second quarter of this year and is now beginning to stretch ahead.
The market is fighting back but is very indecisive at this point. We aren’t going to force the issue with any new ideas this afternoon.
Market Commentary By Charles Payne, CEO & Principal Analyst of Wall Street Strategies.
Bellwether Report Large-Cap Newsletter:
December 18th 2006
Will Oracle Be Great?
The market came out of the gate nicely this morning, only to falter, with investor angst once again being reflected in the migration to blue chips. Part of the problem for the NASDAQ today is Oracle’s earnings announcement, which has a lot of investors sitting on pins and needles. Larry Ellison has mounted an impressive charge (just goes to show what could happen if you stop digging in your rivals’ garbage and simply go to work), but after $20.0 billion in acquisitions the bear argument is back in play, that the company is still too tied to a database market that simply isn’t growing the way it once did.
I’m not so sure I buy that assertion but the anxiety is real. The good news for investors is this is the kind of doubt that builds long-term rallies; in fact, the current leg of the 2006 rally came from surprisingly strong earnings results over the last few weeks.
Current Account Deficit:
Third quarter 2006 current account deficit came in slightly higher than expected but at a new high mark. One compelling and not so exciting trend is the income payment made to foreign holders of US assets, the figure has trailed the US income on its assets abroad, until the second quarter of this year and is now beginning to stretch ahead.
The market is fighting back but is very indecisive at this point. We aren’t going to force the issue with any new ideas this afternoon.
Market Commentary By Charles Payne, CEO & Principal Analyst of Wall Street Strategies.
It dropped another .40 after I posted that chart...
I covered for some good bank ;^))
Oracle profit rises 21%; sales up 26%, in line w/ estimates...
By John Shinal
Last Update: 4:16 PM ET Dec 18, 2006
http://tinyurl.com/y9byew
SAN FRANCISCO (MarketWatch) -- Oracle Corp. (ORCL) reported Monday fiscal second-quarter profit rose 21%, as sales surged 26%, boosted by stronger demand for its business application software.
Redwood Shores, Calif.-based Oracle said net income for the period ended Nov. 30 rose to $967 million, or 18 cents a share, from $798 million, or 15 cents, a year earlier.
Sales rose to $4.16 billion, slightly topping the average estimate of analysts surveyed by Thomson First Call.
Excluding certain one-time items, Oracle said it earned 22 cents a share, matching Wall Street's expectations.
And it's trading DOWN in the after-hours session...Is this another case of "sell the news"?...
Oracle profit rises 21%; sales up 26%, in line w/ estimates...
By John Shinal
Last Update: 4:16 PM ET Dec 18, 2006
http://tinyurl.com/y9byew
SAN FRANCISCO (MarketWatch) -- Oracle Corp. (ORCL) reported Monday fiscal second-quarter profit rose 21%, as sales surged 26%, boosted by stronger demand for its business application software.
Redwood Shores, Calif.-based Oracle said net income for the period ended Nov. 30 rose to $967 million, or 18 cents a share, from $798 million, or 15 cents, a year earlier.
Sales rose to $4.16 billion, slightly topping the average estimate of analysts surveyed by Thomson First Call.
Excluding certain one-time items, Oracle said it earned 22 cents a share, matching Wall Street's expectations.
And it's trading DOWN in the after-hours session...Is this another case of "sell the news"?...
AKAM gave a .90 dcb and RBAK gave NONE...
I picked the wrong pony AGAIN ;^((
I'm out...
I'm buying RBAK now for a dead cat bounce soon...
After that fall of a dollar straight down in just over half an hour...
Wow!...500K shares in five minutes!!!...This might be the "bottom" at around 21.00
ROTFL!!!...I won't hold my breath then ;^))
The Nasdaq is setting new lows of the day...
Edit: It's actually dumping really hard now...I have CNBC muted...
Does anyone know what "news" might have caused this selloff?...TIA
News for 'IBCX' - (IBAC Corporation Board of Directors Approve Several Issues at a Meeting Held on Sunday 12/17/06)
NEW YORK, Dec 18, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:IBCX),
a Hospitality Holding Company, yesterday Sunday 12/17/06 announced that its
Board of Directors has approved unanimously to spin/sell off its restaurants and
food service businesses to another publicly traded company, the Board at the
same meeting also approved that the remainder of IBAC Corporation's assets and
company will move to the OTCBB via a merger with an existing fully reporting
OTCBB fully trading shell company.
The first action that was approved was the spin/sell off of the company's
restaurants and its holdings in its food service businesses, the value of the
transaction is expected to be a minimum of $4,500,000 or as high as $5,000,000
dollars with a dividend to be paid to common shareholders in the form of either
cash/stock or both. The dividend will be paid to shareholders only and exclude
all officers and directors of the company. The company expects the transaction
to be ready to close within Thirty (30) days, at that time the company will
announce the payment/dividend structure and provide the name and symbol of the
new company.
The second action that was approved was the merger of IBAC Corporation and the
remaining real estate owned assets and future acquisitions into a fully
reporting and trading OTCBB company, the surviving entity will include all of
IBAC's real estate holdings and will maintain the IBAC name and share structure.
The shareholders will receive equal value in the transaction of shares of the
merger.
Edward W. Hayter the CEO of IBAC and the largest shareholder in the company
"said that this plan to maximize the company's asset and shareholder value going
forward is the best course of action, I believe that the spinning off of non
real estate owned properties and recovering as much cash as possible to reinvest
in real estate owned property's and moving the company to the OTCBB are the best
way to maximize shareholder value."
This press release does not constitute an offer of any securities for sale. This
press release contains certain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ, including, without
limitation, the company's limited operating history and history of losses, the
inability to successfully obtain further funding, the inability to raise capital
on terms acceptable to the company, the inability to compete effectively in the
marketplace, the inability to complete the proposed acquisition and such other
risks that could cause the actual results to differ materially from those
contained in the company's projections or forward-looking statements. All
forward-looking statements in this press release are based on information
available to the company as of the date hereof, and the company undertakes no
obligation to update forward-looking statements to reflect events or
circumstances occurring after the date of this press release.
SOURCE: IBAC Corporation
CONTACT: IBAC CorporationInvestor Relations, 718-891-8188Fax: 775-320-5437ir@ibaccorp.comwww.ibaccorp.com
Copyright Business Wire 2006
Home builders' confidence falls in December:
By Rex Nutting
Last Update: 1:00 PM ET Dec 18, 2006
http://tinyurl.com/yhfwjg
WASHINGTON (MarketWatch) - U.S. home builders were a bit more pessimistic about the housing market in December, but were growing more hopeful that home sales could perk up in six months, the National Association of Home Builders reported Monday.
The NAHB/Wells Fargo seasonally adjusted housing market index fell to 32 in December from 33 in November.
About a third of builders view the market as favorable.
Economists expected the index to improve to 34 in December.
The index for current sales of single-family homes remained at 33 in December.
The index for future sales of single-family homes rose from 45 to 48, the highest since June.
The index for buyers' traffic dropped from 26 to 23.
Home builders' confidence falls in December:
By Rex Nutting
Last Update: 1:00 PM ET Dec 18, 2006
http://tinyurl.com/yhfwjg
WASHINGTON (MarketWatch) - U.S. home builders were a bit more pessimistic about the housing market in December, but were growing more hopeful that home sales could perk up in six months, the National Association of Home Builders reported Monday.
The NAHB/Wells Fargo seasonally adjusted housing market index fell to 32 in December from 33 in November.
About a third of builders view the market as favorable.
Economists expected the index to improve to 34 in December.
The index for current sales of single-family homes remained at 33 in December.
The index for future sales of single-family homes rose from 45 to 48, the highest since June.
The index for buyers' traffic dropped from 26 to 23.
I can't believe the share price...
Isn't MOVING at all today...
That was the BIGGEST $$$ Order from China to date...
I'm covering my RBAK ss at breakeven...
It looks like it wants to go back up now...
I should've taken my .20/$200.00 profits ;^((
I'll go all IN on a ss if it breaks below 21.33
I'm getting ready to short AKAM...
If it breaks below 55.00 and add more at 54.84 which is a penny below today's intraday low...
I'm adding to my ss position if RBAK breaks below 21.23
RBAK is dumping as predicted ;^))
Thanks! 'Sam_0' ;^))
RBAK is showing a breakdown pattern on the five minute chart...
That downgrade on AKAM was...
A ploy by the Big Boys to pick up cheap shares IMO...
The Accumulation line on the charts is higher today than Friday's...
News for 'CYTR' - (CytRx Provides Update on Stroke Recovery Research Plans Further Preclinical Stroke Studies with Arimoclomol Slated for 1st Quarter 2007)
LOS ANGELES, Dec 18, 2006 (BUSINESS WIRE) -- CytRx Corporation (Nasdaq:CYTR), a
biopharmaceutical company engaged in the development and commercialization of
human therapeutics, today announced plans to initiate additional animal stroke
functional recovery studies with its lead oral drug candidate arimoclomol,
currently being evaluated as a therapeutic for amyotrophic lateral sclerosis
(ALS or Lou Gehrig's Disease). The animal studies are expected to begin in the
first quarter of 2007, and CytRx anticipates results of the studies will be
announced in the second quarter of 2007. In November 2006, CytRx presented data
at the Rodman & Renshaw 8th Annual Healthcare Conference demonstrating for the
first time that arimoclomol improved the functional recovery of motor skills in
an experimental rat model of stroke.
According to CytRx President and CEO Steven A. Kriegsman, "Our decision to
further study arimoclomol as a therapeutic for stroke recovery is based on the
promising results of this early-stage animal study. In addition, we have already
shown in our ALS clinical trial that arimoclomol can cross the human blood:brain
barrier, which is an important attribute for any potential stroke recovery
therapeutic."
In the recently completed rat study, stroke was induced by blocking blood flow
to parts of the brain causing cerebral oxygen deprivation. A subgroup of the
study rats were then dosed orally with arimoclomol daily for 28 days, beginning
one hour after stroke was induced. Recovery from stroke was measured by
monitoring sensory motor skills. While motor skills declined dramatically in all
study rats, those treated with arimoclomol recovered faster and more completely
than those untreated. In one functional capacity test, arimoclomol treated
animals were completely restored to normal non-stroke levels, indicating a
complete recovery using this particular measurement of stroke.
"The improvement in functional recovery from stroke observed with arimoclomol in
this initial preclinical study provides additional scientific support for the
broad therapeutic potential of the underlying mechanism of action of
arimoclomol," said CytRx Senior Vice President of Drug Development Jack Barber,
Ph.D. "CytRx will only initiate clinical development of arimoclomol for stroke
recovery if the subsequent planned studies demonstrate a substantial advantage
over other companies' drugs that were not successful in the clinic." Dr. Barber
added, "I am optimistic that the planned studies will support the potential of
arimoclomol for stroke recovery and look forward to sharing the upcoming results
with our investors."
About Stroke
According to the American Heart Association, 700,000 Americans each year
experience a new or recurrent stroke and, on average, every 45 seconds someone
in the United States has a stroke. Stroke is the third leading cause of death in
the U.S. and is the number one cause of long-term disability among Americans.
According to the American Heart Association, stroke cost almost $57 billion in
both direct and indirect costs in 2005.
About Arimoclomol
Arimoclomol is believed to function by stimulating a normal cellular protein
repair pathway through the activation of "molecular chaperones." Since damaged
proteins called aggregates are thought to play a role in many diseases, CytRx
believes that activation of molecular chaperones could have therapeutic efficacy
for a broad range of diseases.
In September 2006, CytRx announced that arimoclomol was shown to be safe and
well tolerated at all three doses tested in its Phase IIa clinical trial in
patients with amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). The
Company plans to enter a Phase IIb clinical trial with arimoclomol in ALS in the
3rd quarter of 2007, subject of U.S. Food and Drug Administration (FDA)
approval. The FDA has granted Fast Track designation and Orphan Drug status and
the European Commission has granted orphan medicinal product status to
arimoclomol for the treatment of ALS.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company
engaged in the development of high-value human therapeutics. The Company owns
three clinical-stage compounds based on its small molecule "molecular chaperone"
co-induction technology. In September 2006, CytRx announced receipt of $24.5
million in a non-dilutive agreement with the privately-funded ALS Charitable
Remainder Trust to fund continued arimoclomol development for the treatment for
ALS in return for a one percent royalty from potential worldwide sales of
arimoclomol for the treatment of ALS. The Greater Los Angeles Chapter of The ALS
Association is the charitable beneficiary of the ALS Charitable Remainder Trust.
CytRx has a broad-based strategic alliance with the University of Massachusetts
Medical School to develop novel compounds in the areas of ALS, obesity, type 2
diabetes and cytomegalovirus (CMV) using RNAi technology. The Company has a
research program with Massachusetts General Hospital, Harvard University's
teaching hospital, to use RNAi technology to develop a drug for the treatment of
ALS. CytRx's Drug Discovery division, located in Worcester, Mass., focuses on
the use of RNAi technologies to develop small molecule and RNAi therapeutics to
treat obesity and type 2 diabetes. For more information, visit CytRx's Web site
at www.cytrx.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. Such statements
involve risks and uncertainties that could cause actual events or results to
differ materially from the events or results described in the forward-looking
statements, including risks or uncertainties related to the outcome or results
of any future pre-clinical testing of arimoclomol on animal models of stroke
recovery, and other risk and uncertainties described in CytRx's most recently
filed SEC documents, such as its most recent annual report on Form 10-K, all
quarterly reports on Form 10-Q and any current reports on Form 8-K filed since
the date of the last Form 10-K. All forward-looking statements are based upon
information available to CytRx on the date the statements are first published.
CytRx undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
SOURCE: CytRx Corporation
CONTACT: CEOcast, Inc.Dan Schustack, 212-732-4300dschustack@ceocast.com
Copyright Business Wire 2006
News for 'CYTR' - (CytRx Provides Update on Stroke Recovery Research Plans Further Preclinical Stroke Studies with Arimoclomol Slated for 1st Quarter 2007)
LOS ANGELES, Dec 18, 2006 (BUSINESS WIRE) -- CytRx Corporation (Nasdaq:CYTR), a
biopharmaceutical company engaged in the development and commercialization of
human therapeutics, today announced plans to initiate additional animal stroke
functional recovery studies with its lead oral drug candidate arimoclomol,
currently being evaluated as a therapeutic for amyotrophic lateral sclerosis
(ALS or Lou Gehrig's Disease). The animal studies are expected to begin in the
first quarter of 2007, and CytRx anticipates results of the studies will be
announced in the second quarter of 2007. In November 2006, CytRx presented data
at the Rodman & Renshaw 8th Annual Healthcare Conference demonstrating for the
first time that arimoclomol improved the functional recovery of motor skills in
an experimental rat model of stroke.
According to CytRx President and CEO Steven A. Kriegsman, "Our decision to
further study arimoclomol as a therapeutic for stroke recovery is based on the
promising results of this early-stage animal study. In addition, we have already
shown in our ALS clinical trial that arimoclomol can cross the human blood:brain
barrier, which is an important attribute for any potential stroke recovery
therapeutic."
In the recently completed rat study, stroke was induced by blocking blood flow
to parts of the brain causing cerebral oxygen deprivation. A subgroup of the
study rats were then dosed orally with arimoclomol daily for 28 days, beginning
one hour after stroke was induced. Recovery from stroke was measured by
monitoring sensory motor skills. While motor skills declined dramatically in all
study rats, those treated with arimoclomol recovered faster and more completely
than those untreated. In one functional capacity test, arimoclomol treated
animals were completely restored to normal non-stroke levels, indicating a
complete recovery using this particular measurement of stroke.
"The improvement in functional recovery from stroke observed with arimoclomol in
this initial preclinical study provides additional scientific support for the
broad therapeutic potential of the underlying mechanism of action of
arimoclomol," said CytRx Senior Vice President of Drug Development Jack Barber,
Ph.D. "CytRx will only initiate clinical development of arimoclomol for stroke
recovery if the subsequent planned studies demonstrate a substantial advantage
over other companies' drugs that were not successful in the clinic." Dr. Barber
added, "I am optimistic that the planned studies will support the potential of
arimoclomol for stroke recovery and look forward to sharing the upcoming results
with our investors."
About Stroke
According to the American Heart Association, 700,000 Americans each year
experience a new or recurrent stroke and, on average, every 45 seconds someone
in the United States has a stroke. Stroke is the third leading cause of death in
the U.S. and is the number one cause of long-term disability among Americans.
According to the American Heart Association, stroke cost almost $57 billion in
both direct and indirect costs in 2005.
About Arimoclomol
Arimoclomol is believed to function by stimulating a normal cellular protein
repair pathway through the activation of "molecular chaperones." Since damaged
proteins called aggregates are thought to play a role in many diseases, CytRx
believes that activation of molecular chaperones could have therapeutic efficacy
for a broad range of diseases.
In September 2006, CytRx announced that arimoclomol was shown to be safe and
well tolerated at all three doses tested in its Phase IIa clinical trial in
patients with amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). The
Company plans to enter a Phase IIb clinical trial with arimoclomol in ALS in the
3rd quarter of 2007, subject of U.S. Food and Drug Administration (FDA)
approval. The FDA has granted Fast Track designation and Orphan Drug status and
the European Commission has granted orphan medicinal product status to
arimoclomol for the treatment of ALS.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company
engaged in the development of high-value human therapeutics. The Company owns
three clinical-stage compounds based on its small molecule "molecular chaperone"
co-induction technology. In September 2006, CytRx announced receipt of $24.5
million in a non-dilutive agreement with the privately-funded ALS Charitable
Remainder Trust to fund continued arimoclomol development for the treatment for
ALS in return for a one percent royalty from potential worldwide sales of
arimoclomol for the treatment of ALS. The Greater Los Angeles Chapter of The ALS
Association is the charitable beneficiary of the ALS Charitable Remainder Trust.
CytRx has a broad-based strategic alliance with the University of Massachusetts
Medical School to develop novel compounds in the areas of ALS, obesity, type 2
diabetes and cytomegalovirus (CMV) using RNAi technology. The Company has a
research program with Massachusetts General Hospital, Harvard University's
teaching hospital, to use RNAi technology to develop a drug for the treatment of
ALS. CytRx's Drug Discovery division, located in Worcester, Mass., focuses on
the use of RNAi technologies to develop small molecule and RNAi therapeutics to
treat obesity and type 2 diabetes. For more information, visit CytRx's Web site
at www.cytrx.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. Such statements
involve risks and uncertainties that could cause actual events or results to
differ materially from the events or results described in the forward-looking
statements, including risks or uncertainties related to the outcome or results
of any future pre-clinical testing of arimoclomol on animal models of stroke
recovery, and other risk and uncertainties described in CytRx's most recently
filed SEC documents, such as its most recent annual report on Form 10-K, all
quarterly reports on Form 10-Q and any current reports on Form 8-K filed since
the date of the last Form 10-K. All forward-looking statements are based upon
information available to CytRx on the date the statements are first published.
CytRx undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
SOURCE: CytRx Corporation
CONTACT: CEOcast, Inc.Dan Schustack, 212-732-4300dschustack@ceocast.com
Copyright Business Wire 2006
I covered my pre-market ss on AKAM at 55.30
I had a student this morning, so I couldn't post this as it happened...
RBAK formed a doji candlestick Friday...
Is that a reversal signal, or a continuation doji?...
I've been following RBAK since June of 2005...
I'm hoping for a pullback that forms a Bull Flag like these...
RBAK forms them quite often:
Here's another look at a daily chart:
The weekly charts show two huge green candlesticks in a row, and that usually calls for one more...
With the Dow futures being up 22 points this morning, and the Nasdaq futures being up 10 points I wouldn't be going Short on RBAK just yet, but I do feel like it needs to take a pause soon to catch it's breath after running so hard lately...
Good Luck To ALL ;^))
RBAK formed a doji candlestick Friday...
Is that a reversal signal, or a continuation doji?...
I've been following RBAK since June of 2005...
I'm hoping for a pullback that forms a Bull Flag like these...
RBAK forms them quite often:
Here's another look at a daily chart:
The weekly charts show two huge green candlesticks in a row, and that usually calls for one more...
With the Dow futures being up 22 points this morning, and the Nasdaq futures being up 10 points I wouldn't be going Short on RBAK just yet, but I do feel like it needs to take a pause soon to catch it's breath after running so hard lately...
Good Luck To ALL ;^))
RBAK formed a doji candlestick Friday...
Is that a reversal signal, or a continuation doji?...
I've been following RBAK since June of 2005...
I'm hoping for a pullback that forms a Bull Flag like these...
RBAK forms them quite often:
Here's another look at a daily chart:
The weekly charts show two huge green candlesticks in a row, and that usually calls for one more...
With the Dow futures being up 22 points this morning, and the Nasdaq futures being up 10 points I wouldn't be going Short on RBAK just yet, but I do feel like it needs to take a pause soon to catch it's breath after running so hard lately...
Good Luck To ALL ;^))
I'm entering a Short Sale of AKAM...
On that downgrade today...It also had a downgrade by Henley & Co. last Thursday from:
Buy-to Speculative Buy...
It has set new 52 week highs for the last seven sessions in a row, and I too think it's run too far too fast and needs to catch it's breath after running so hard...
I'm taking a first position here in the pre-market, and will add more when it breaks below the support levels of 55.83 and 55.63
Here is this weeks Economic Calendar:
The big ones this week are the PPI on Tuesday, final GDP and Jobless Claims on Thursday, Durable Goods and Consumer Sentiment on Friday...
Here is this weeks Economic Calendar:
The big ones this week are the PPI on Tuesday, final GDP and Jobless Claims on Thursday, Durable Goods and Consumer Sentiment on Friday...
COMPOSITE TECHNOLOGY ANNOUNCES NEW ACCC CABLE SALE FOR CHINA’S ELECTRICAL GRID:
Order Highlights Growing Acceptance in Chinese Market...
IRVINE, CA,December 18, 2006 – Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC) is pleased to announce a new order for 282 kilometers of ACCC Conductor destined for the Chinese electrical grid. The order issued to our subsidiary, CTC Cable Corporation, by Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation, is valued in excess of $4.1 million and calls for delivery in the first quarter of 2007.
This purchase order, consisting of two sizes of ACCC conductor with connecting hardware, represents the first transaction called for under the terms of a newly signed Memorandum of Understanding which contemplates the signing of a multi-year year contract, wherein the first year’s purchases require a minimum purchase of 600 kilometers of ACCC per quarter for distribution in China. The minimum quarterly purchases are to escalate after the first year. The composite core for this order will be manufactured in CTC Cable’s ISO9001:2000 certified facility in Irvine, California and aluminum stranding will take place at one of CTC’s certified suppliers.
“This order once again underscores the commitment of CTC and Far East to serve the rapidly growing electrical infrastructure needs in China to increase grid capacity. Chinese utilities have been quick to recognize the exceptional performance of our ACCC conductor and they represent our fastest growing customer base,” stated Benton Wilcoxon, Chairman and CEO of Composite Technology Corporation.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:
•CTC Cable Corporation produces composite rod for use in its proprietary ACCC aluminum conductor composite core. ACCC conductors virtually eliminate the sag in power lines caused by high current and high line temperatures. ACCC conductors also reduce electricity line losses, and have demonstrated significant savings in capital and operating expenses when substituted for other conductors. ACCC conductors enable grid operators to eliminate blackouts and brownouts, providing a ‘reserve electrical capacity’ by operating at higher temperatures. ACCC conductors are an innovative solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC composite rod is delivered to qualified conductor manufacturers worldwide for local ACCC conductor production and resale into local markets.
•∑ DeWind, Inc., and DeWind Ltd (formerly EU Energy Ltd), produce, sell, and license the DeWind series of wind energy turbines including the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2MW, both noted for their reliability. In 2007, the first new 2MW D8.2 turbines are planned to be delivered to North American customers from assembly operations at TECO Westinghouse in Texas and in Germany. The D8.2 utilizes the advanced WinDrive® hydrodynamic torque converter developed by Voith AG with a synchronous AC generator that is able to connect directly to the grid without the use of power conversion electronics. The DeWind D8.2 will be available in both a 60Hz and 50Hz version.
For further information visit our websites: www.compositetechcorp.com & www.eunrg.com. For Investor Relations Contact: James Carswell, +1- 949-428 8500
This press release may contain forward-looking statements, as defined in the Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for forward-looking statements provided to companies by the Reform Act does not apply to Composite Technology Corporation (Company). However, actual events or results may differ from the Company's expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties including, but not limited to, competition with larger companies, development of and demand for a new technology, risks associated with a startup company, risks associated with international transactions, the ability of the company to convert quotations and framework agreements into firm orders, general economic conditions, the availability of funds for capital expenditure by customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, successful integration of the EU Energy acquisition, ability to produce the turbines and acquire its components, ability to maintain quality control, collection-related and currency risks from international transactions, the successful outcome of joint venture negotiations, or the Company's ability to manage growth. Other risk factors attributable to the Company's business may affect the actual results achieved by the Company including those that are found in the Company's Annual Report filed with the SEC on Form 10-K for fiscal year ended September 30, 2005 and subsequent Quarterly Reports on Form 10-Q and subsequent Current Reports filed on Form 8-K and including those pertaining to EU Energy that will be included with or prior to the filing of the Company’s next Quarterly or Annual Report.
enews@compositetechcorp.com
http://www.compositetechcorp.com
COMPOSITE TECHNOLOGY ANNOUNCES NEW ACCC CABLE SALE FOR CHINA’S ELECTRICAL GRID:
Order Highlights Growing Acceptance in Chinese Market...
IRVINE, CA,December 18, 2006 – Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC) is pleased to announce a new order for 282 kilometers of ACCC Conductor destined for the Chinese electrical grid. The order issued to our subsidiary, CTC Cable Corporation, by Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation, is valued in excess of $4.1 million and calls for delivery in the first quarter of 2007.
This purchase order, consisting of two sizes of ACCC conductor with connecting hardware, represents the first transaction called for under the terms of a newly signed Memorandum of Understanding which contemplates the signing of a multi-year year contract, wherein the first year’s purchases require a minimum purchase of 600 kilometers of ACCC per quarter for distribution in China. The minimum quarterly purchases are to escalate after the first year. The composite core for this order will be manufactured in CTC Cable’s ISO9001:2000 certified facility in Irvine, California and aluminum stranding will take place at one of CTC’s certified suppliers.
“This order once again underscores the commitment of CTC and Far East to serve the rapidly growing electrical infrastructure needs in China to increase grid capacity. Chinese utilities have been quick to recognize the exceptional performance of our ACCC conductor and they represent our fastest growing customer base,” stated Benton Wilcoxon, Chairman and CEO of Composite Technology Corporation.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:
•CTC Cable Corporation produces composite rod for use in its proprietary ACCC aluminum conductor composite core. ACCC conductors virtually eliminate the sag in power lines caused by high current and high line temperatures. ACCC conductors also reduce electricity line losses, and have demonstrated significant savings in capital and operating expenses when substituted for other conductors. ACCC conductors enable grid operators to eliminate blackouts and brownouts, providing a ‘reserve electrical capacity’ by operating at higher temperatures. ACCC conductors are an innovative solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC composite rod is delivered to qualified conductor manufacturers worldwide for local ACCC conductor production and resale into local markets.
•∑ DeWind, Inc., and DeWind Ltd (formerly EU Energy Ltd), produce, sell, and license the DeWind series of wind energy turbines including the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2MW, both noted for their reliability. In 2007, the first new 2MW D8.2 turbines are planned to be delivered to North American customers from assembly operations at TECO Westinghouse in Texas and in Germany. The D8.2 utilizes the advanced WinDrive® hydrodynamic torque converter developed by Voith AG with a synchronous AC generator that is able to connect directly to the grid without the use of power conversion electronics. The DeWind D8.2 will be available in both a 60Hz and 50Hz version.
For further information visit our websites: www.compositetechcorp.com & www.eunrg.com. For Investor Relations Contact: James Carswell, +1- 949-428 8500
This press release may contain forward-looking statements, as defined in the Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for forward-looking statements provided to companies by the Reform Act does not apply to Composite Technology Corporation (Company). However, actual events or results may differ from the Company's expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties including, but not limited to, competition with larger companies, development of and demand for a new technology, risks associated with a startup company, risks associated with international transactions, the ability of the company to convert quotations and framework agreements into firm orders, general economic conditions, the availability of funds for capital expenditure by customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, successful integration of the EU Energy acquisition, ability to produce the turbines and acquire its components, ability to maintain quality control, collection-related and currency risks from international transactions, the successful outcome of joint venture negotiations, or the Company's ability to manage growth. Other risk factors attributable to the Company's business may affect the actual results achieved by the Company including those that are found in the Company's Annual Report filed with the SEC on Form 10-K for fiscal year ended September 30, 2005 and subsequent Quarterly Reports on Form 10-Q and subsequent Current Reports filed on Form 8-K and including those pertaining to EU Energy that will be included with or prior to the filing of the Company’s next Quarterly or Annual Report.
enews@compositetechcorp.com
http://www.compositetechcorp.com
I'm joining you on a ss of AKAM...
On that downgrade today...It also had a downgrade by Henley & Co. last Thursday from Buy-to Speculative Buy...
It has set new 52 week highs for the last seven sessions in a row, and I too think it's run too far too fast and needs to catch it's breath after running so hard...
I'm taking a first position here in the pre-market, and will add more when it breaks below the support levels of 55.83 and 55.63
DOWNGRADE: Akamai Technologies (AKAM)
Downgraded by Kaufman Bros.
From Buy to Hold.
Briefing.com
08:03 a.m. 12/18/2006
DOWNGRADE: Akamai Tech. (AKAM)
Downgraded by Kaufman Bros.
From Buy to Hold.
Briefing.com
08:03 a.m. 12/18/2006
OK Capitalist...I expect to hear from ClickBank tomorrow...
And then my account will become active...
I'll let this board know how well sales go in the near future...