Political Front On Tuesday Iranian President Mahmoud Ahmadinejad said that Iran has joined the club of nuclear countries by successfully enriching uranium for the first time. Iran claims that their venture into the nuclear arena is purely a peaceful energy program. Now if they expect the world to believe that their intentions are noble then they have another thing coming as the United Nations is sending their nuclear watchdog to Iran. Keep in mind that Uranium enrichment can be used to produce fuel for a nuclear reactor or an atomic warhead. It looks like China, ahead of the United States visit from Chinese President Hu Jintao, may lift the ban on U.S. Beef imports as a goodwill gesture. China has been making deals from airplanes to technology, they are gearing up to be a player in global business. Movers and Shakers Some major movers in yesterdays trading session include Brilliance China Auto (NYSE: CBA) trading up $2.64 to close at $18.94, Piper Jaffray (NYSE:PJC) trading up $5.90 to close at $61.10, Advanced Medical Optics (NYSE: EYE) getting a boost from Bausch & Lombs (NYSE: BOL) woes, the stock traded up $3.01 to close at $48.48, Blue Dolphin Energy (NASDAQ: BDCO) trading up $2.03 to close at $7.09, Green Plains Renewable Energy (NASDAQ: GPRE) trading up $3.50 to close at $49.02, Mexco Energy Corp (AMEX: MXC) trading up $1.24 to close at $9.99, Hi Shear Technology (AMEX: HSR) trading up $1.67 to close at $5.45 and Columbia Sportswear (NASDAQ: COLM) trading up $3.53 to close at $56.60. Genentech Genentech (NYSE: DNA) reported net income of $421 million, or 39 cents a share, which included the expensing of stock options. This compared with $284 million or 27 cents a share a year ago. But sales of Rituxan, its non-Hodgkin's lymphoma drug, which recently won approval to also treat rheumatoid arthritis, were down from the previous quarter and Genentech shares slipped almost 1 percent in after-hours trading. Nasdaq and the LSE The Nasdaq (NASDAQ: NDAQ) may have left the table but they are not out of the game, in a bold move to leap ahead of the New York Stock Exchange (NYSE: NYX) and any possible bid from them, the Nasdaq acquired the 13.8% stake in the London Stock Exchange that was held by the U.K fund manager Threadneedle Investments, along with another 1.2%, for 1,175 pence a share, or $781.7 million. This pushed the value of the LSE to $5.2 billion, if you recall the Nasdaqs bid for the LSE was in the $4 billion range. According to U.K. takeover rules once the Nasdaq withdrew their bid they were banned from issuing a new bid for a period of at least 6 months, unless a rival bidder would come to the table. But snapping up 15% of the LSE would be a big deterrent to a bid from either the Euronext, the NYSE Group or the American Stock Exchange.. Google to expand in China Ahead of the U.S. visit from Chinese President Hu Jintao, Internet giant Google (NASDAQ: GOOG) expects to see substantial revenue growth in China. Google CEO Eric Schmidt said in a news conference in China that they expect to have over 100 software engineers in China by mid 2006 and eventually thousands as they solidify their position in the Chinese market. As we said in other segments we see Google to have continued growth and possibly trade as high as $550 to $600 in 2006 and at that point you may see a stock split. Stocks to Watch The following are companies that you should know about, we are just making mention of them on Wall Street to Main Street and will have a more in depth profile on these companies, along with our outlook. Remember that only subscribers to the NAMC Newswire will be able to read the Investors Corner segment in its entirety, so go to www.namcnewswire.com to subscribe, its fast and free. Abercrombie & Fitch Co (NYSE: ANF) the stock closed at $56.55 on Tuesday and in the upcoming Investors Corner segment well give our take on the company and their direction. American Eagle Outfitters (NASDAQ: AEOS) the stock closed at $29.38 on Tuesday. Las Vegas Sands Corp (NYSE: LVS) the stock closed at $59.88 on Tuesday. China Medical Technologies (NASDAQ: CMED) the stock closed at $25.66 on Tuesday. Investors Bancorp (NASDAQ: ISBC) the stock closed at $13.03 on Tuesday. Readers Speak We received an email from one of our readers/listeners Jerry from Massachusetts, he wanted to know why we havent mentioned Alanco Technologies (NASDAQ: ALAN) on WSMS for a while. Jerry, our mission is to introduce our readers/listeners to companies that we feel represent value and have potential to excel in their industry. We like the technology system that Alanco Technologies has but the slow movement in regards to additional contracts limits their growth. We understand that this is partially due to legislation but the company needs to venture out of prison facilities and perhaps look at the other uses for their system as they await approval for additional prison contracts. So until they either get a major contract or venture into other areas they are at a standstill. However we will expand on that thought in an upcoming segment of the Investors Corner this month. We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, its only for your protection. When it comes to thinly traded securities stagger your orders or put a limit order in to avoid a run up. NAMC Newswire Note Go to the NAMC Newswire for updates at www.namcnewswire.com and you can listen to the NAMC Radio for the audio version of Wall Street to Main Street at http://www.namcnewswire.com/namcradio To register to receive the Wall Street to Main Street Free Daily Newsletter Click Here or go to our site and click on the Newsletter section. http://www.namcnewswire.com/newsletter CEOs that want to contact us can do so by going to http://www.namcnewswire.com or call us at 888-463-9237. |
