WESTON, Fla., Jan. 7, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Bluetorch Inc. (OTCBB:BTOR), Dell Inc. (Nasdaq:DELL), Sprint PCS Group (NYSE:PCS) and General Electric Company (NYSE:GE).
Aggressive investors should keep their eyes on Bluetorch Inc. (OTCBB:BTOR) this morning! Yesterday after the markets closed, the company issued a press release announcing that one of its wholly owned subsidiaries, Total Sports Distribution Inc., signed a letter-of-intent with Colorado-based Collective Licensing International LLC to license the Airwalk(r) name for apparel in the United States market!
This could be great news for investors! The Airwalk brand, best known as one of the largest action sports brands in the world, has been marketing and selling apparel for just over two years through major U.S. retailers such as The Sports Authority and J.C. Penney. The impending licensing agreement would allow for Bluetorch's subsidiary Total Sports Distribution to start shipping product into the U.S. market in July 2004.
Bruce MacGregor, President and CEO of Bluetorch Inc. said, "By any standard, Airwalk qualifies as a major brand within our industry. The opportunity to work with a preeminent brand such as Airwalk is truly a tremendous milestone for our company. The Airwalk license will provide Bluetorch with a solid revenue platform for 2004, with the potential for tremendous revenue increases in 2005 and beyond. In the July 2003 issue of Sporting Goods Business, the top 50 sporting goods brands were ranked in terms of brand awareness, and only Quiksilver, among all the other action or extreme sport brands, ranked higher than Airwalk."
Added MacGregor, "We envision following the distribution road map that has already been initiated with Airwalk apparel, which encompasses selling into the department store channel, sporting goods chains and core snowboarding shops."
Keep your eye on this one! Bluetorch Inc. is an emerging extreme sports company that is rapidly establishing itself as a one-stop shop in the extreme sports industry with a multi-branded portfolio. Bluetorch Inc. presently markets and wholesales Bluetorch branded apparel and TSA Clothing. Beyond apparel, the Company's goal is to translate the Bluetorch name into a complete lifestyle brand focusing on an eclectic array of products for the core extreme sports enthusiast. The stock closed yesterday at twenty-nine cents a share.
Stocks showing interesting activity yesterday were: Dell Inc. (Nasdaq:DELL) down .45% on 16.1 million shares traded, Sprint PCS Group (NYSE:PCS) up 2% on 16.4 million shares traded and General Electric Company (NYSE:GE) down .66% on 16.4 million shares traded.
Commentary: Tax Changes for 2004
"The new year of 2004 has many new tax changes to think about. This year you can contribute as much as $13,000 to your 401k if you are under 50, over 50 anytime this year the limit is $16,000. The standard deduction for married couples, filing jointly, is $9,700; singles is $4,850. The basic estate-tax (death) exclusion is now $1.5 million, and the standard mileage- rate (the one the government pays to its employees and the one you can use on your taxes) is now 37.5 cents per mile. There you have it, death and taxes," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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Market commentary provided by Sonja Rudd.
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