SARASOTA, Fla., Sept. 30, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
Fidelis Energy, Inc. (OTCBB:FDEI), Intuit Inc. (Nasdaq:INTU), Cogent Inc. (Nasdaq:COGT) and Bullion River Gold Corp. (OTCBB:BLRV)
Oil and gas company Fidelis Energy, Inc. (OTCBB:FDEI) announced after the closing bell Wednesday "the positive impact the current rise in energy prices has on the Company." The announcement was made by Company president Dan Hodges.
"With an increasing world oil demand of roughly 82 million barrels per day, and oil prices rising to the $50 a barrel zone, the bottom line on the Company's projects will be positively affected. At our Comanche Point heavy oil projects there are an estimated 5,000,000 barrels of heavy crude."
FDEI is currently seeing its price rise from around .70 a few days prior to around .90 a share.
On the Nasdaq --
Intuit Inc. (Nasdaq:INTU)
After the bell Wednesday, tax preparation software provider Intuit Inc. reaffirmed its previous guidance for its first quarter and full year 2005. The company said that it still expects to post a pro forma net loss of $0.29 to $0.25 per share in the first quarter. On a GAAP basis, the company expects to post a net loss of $0.32 to $0.28 per share in the first quarter.
Intuit said it expects to post a pro forma operating loss of $85 million to $75 million and a GAAP operating loss of $93 million to $83 million in the first quarter, and added that it typically posts a seasonal loss in its first quarter when it has little revenue from its tax businesses, whereas expenses remain constant.
Intuit added it anticipates its first quarter revenue to be in the range of $251 million to $263 million, a growth of 5% to 10% year-over-year. Additionally, the company expects pro forma earnings of $1.93 to $2.01 per share for the full year 2005, in line with the analysts' consensus earnings estimate of $1.96 per share. On a GAAP basis, the company expects earnings of $1.82 to $1.90 per share for the full year.
Intuit said that it anticipates pro forma operating income of $535 million to $559 million and a GAAP operating income of $503 million to $527 million for the full year 2005, and that it expects to post annual revenue of $1.97 billion to $2.02 billion, in line with the analysts' consensus revenue estimate of $2.00 billion.
Shares of INTU closed Wednesday's regular trading session up $1.55 at $44.86.
Cogent Inc. (Nasdaq:COGT)
Automated Fingerprint Identification Systems provider Cogent Inc. announced after the closing bell Wednesday the completion of its initial public offering of 18 million shares of its common stock. Cogent said that the underwriters of the initial public offering had exercised their full over-allotment option for 2.7 million additional shares of common stock.
The company added that all shares were sold by the company at an initial public offering price of $12 per share.
Shares of COGT closed Wednesday's regular trading session down .30 cents at $17.25 on a volume of 862K shares.
Bullion River Gold Corp. (OTCBB:BLRV)
Mineral exploration company focusing on regions containing gold-silver deposits, Bullion River Gold Corp. announced Wednesday the on-site start of its underground exploration program at the North Fork mine near Allegheny, CA.
The company said that after weeks of engineering, planning and administrative preparation, Bullion River Gold Corp. is starting its on-site work program for the underground exploration at its North Fork mine.
Bullion River's President Peter M. Kuhn states: "We are very pleased to start this program which consists of the rehabilitation of a 1,800 ft. long access tunnel and a 10,000 ft. underground Diamond Drill program. This exceptionally high grade, historic gold producer deserves a very serious look for a long time and our expectations are equally high and demanding."
The company added that the mine produced about 50,000 of gold through 1932 at reported average grades of over 1 oz/ton, stopped production when its sole access collapsed, and was never reopened. Historic sampling on the three underground levels yielded spectacular grades of up to 41 oz/ton with substantial mining widths of up to 45 ft.
BLRV closed Wednesday up 0.065 at $0.745.
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