SARASOTA, Fla., Oct. 7, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Sciax Corp (Pink Sheets:SCXC), American Eagle Outfitters, Inc. (Nasdaq:AEOS), Isis Pharmaceuticals, Inc. (Nasdaq:ISIS) and Hot Topic, Inc. (Nasdaq:HOTT)
Making news is Sciax Corp (Pink Sheets:SCXC). Sciax announced Wednesday after the closing bell that it has signed a letter of intent to acquire 50% of Nuresco Polymers.
Nuresco has developed an advanced polymer system with strength, high service temperature, chemical resistance and other properties that allow it to effectively compete for contracts in the defense and aeronautics industries.
"We are eager to explore the opportunity of working with Nuresco," stated Ralph Manore, Vice President of Operations for Sciax. "It is expected that we may leverage Nuresco's contact base as a number of high level introductions will be made available to advance sales of Sciax's Wolf Pack into the defense industry," added Mr. Manore.
Sciax Corp describes themselves as an emerging leader in defense imaging systems for law enforcement and military personnel engaged in counter-terrorism and other special security operations.
Other Late News On the Nasdaq Wednesday;
American Eagle Outfitters, Inc. (Nasdaq:AEOS)
Retailer American Eagle Outfitters, Inc. announced after the bell Wednesday evening that it has raised its third quarter earnings guidance as a result of the continued positive sales trends and strong margins. It now expects to report third quarter earnings in the range of $0.67 to $0.69 per share, up from its earlier projection of $0.56 to $0.58 per share.
American Eagle also stated that total sales for the five-week period ended October 2, 2004 increased 32.2 percent to $161.5 million, compared to $122.1 million posted in the year ago period.
Shares of AEOS closed Wednesday's regular trading session at $37.42, up $0.12, on volume of 1,620,028 shares.
Isis Pharmaceuticals, Inc. (Nasdaq:ISIS)
Isis Pharmaceuticals, Inc. announced after the bell Wednesday that its Ibis program has been granted three new government contracts valued at up to $10 million for the continued development of its TIGER biosensor technology.
The Ibis program has expanded on Isis' RNA-based drug discovery and development expertise in order to revolutionize the identification and treatment of infectious diseases. TIGER, the company stated, stands for Triangulation Identification Genetic Evaluation of Risks, and is a research program initially sponsored by the Defense Advanced Research Projects Agency under a subcontract from San Diego-based Science Applications International Corporation for bioweapons defense.
Shares of ISIS finished Wednesday's regular trading session up 0.10, at $4.95, and was trading higher at $5.60 in the after-hours market.
Hot Topic, Inc. (Nasdaq:HOTT)
Apparel and accessories retailer Hot Topic Inc., announced after the bell Wednesday that net sales for the five weeks ended Oct. 2 rose 18% to $57.9 million from net sales of $48.9 million for fiscal September 2003. Hot Topic stated for the quarter comparable-store sales fell 4.4%, and total sales rose 13% to $124.5 million. Comparable store sales for September increased 1.1% versus last year.
The company added it bought back 1 million common shares between Sept. 9 and Sept. 29 at an average price of $16.85 each, expects to continue the buyback program through Jan. 28.
HOTT ended Wednesday's trading session at $17.41, and was trading higher at $18.80 in the after-hours market.
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