MIAMI, May 10, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: SoftNet Technology (OTCBB:STTC), Nokia Corp. (NYSE:NOK), Research In Motion (Nasdaq:RIMM) and Time Warner Inc. (NYSE:TWX).
SoftNet Technology (OTCBB:STTC) issued a press release that may really get investors' attention. Late yesterday afternoon, the company announced that its wholly owned subsidiary, Indigo Technology Services (Indigo), signed 3 new maintenance contracts with clients to monitor their servers, provide technology management and support. They have entered into a contract with Gleeds USA to manage their IT infrastructure, provide ongoing technology consulting and provide disaster recovery solutions. Before the news was released, the company's stock closed at around twenty three cents a share.
The press release stated that this contract adds to Indigo's technical services division. This is a large part of the company as it provides a majority of recurring revenue that is generated by the Company. Indigo will be providing services such as exchange implementation and consulting, server monitoring and maintenance, technology business process improvements and disaster recovery. Indigo's consulting messaging division was engaged to assist in a disaster recovery of an Exchange 2003 E-mail infrastructure. Indigo responded and restored E-mail operations within 4 hours. Over the course of 4 days, Indigo stabilized and cleaned out the E-mail environment. Indigo will retain all ongoing server maintenance for the company.
"As more companies engage Indigo's consulting division, disaster recovery and messaging divisions, we expect to see profound revenue growth," said Mr. James M. Farinella, CEO/President of SoftNet Technology Inc. "Indigo is really starting to show the value that SoftNet management had envisioned when we acquired them."
Other Stocks of interest yesterday were: Nokia Corp. (NYSE:NOK) up 1.4% on 14.1 million shares traded, Research In Motion (Nasdaq:RIMM) up 3% on 10.2 million shares traded and Time Warner Inc. (NYSE:TWX) up 1.2% on 10.5 million shares traded.
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