SARASOTA, Fla., Oct. 7, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Sciax Corp. (Pink Sheets:SCXC), Pixelworks Inc. (Nasdaq:PXLW), Starbucks Corp. (Nasdaq:SBUX) and HomeStore Inc. (Nasdaq:HOMS).
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;
Pixelworks Inc. (Nasdaq:PXLW)
After the bell Wednesday Pixelworks Inc., maker of integrated circuits for advanced display devices, announced that it expects to post a third-quarter pro forma earnings of $0.11 to $0.12 per share, which is within its previous guidance range of $0.09 to $0.12. 0n a GAAP basis, the company expects its third quarter earnings to be $0.10 to $0.11 per share, still within its previous outlook range of $0.08 to $0.11 per share.
Pixelworks Inc. cut its third-quarter revenue outlook to a range between $43.5 million and $44 million from its earlier forecast of between $47 million and $50 million, citing greater than expected decline in shipments to LCD monitor manufacturers. .
Shares of PXLW closed Wednesday's regular trading session at $10.80, and gained 36 cents in after hours trading.
Starbucks Corp. (Nasdaq:SBUX)
Coffee retailer Starbucks Corp. announced after the bell Wednesday that consolidated net revenues for the six-week period ended October 3 grew 47% to $624 million from $423 million for the corresponding five-week period last year. On a comparative five-week basis for September, net revenues increased 23% year over year.
The company said that sales at stores open at least 13 months rose 7 percent in the five weeks ended Sept. 26, the slowest rate of increase since May 2003.
SBUX ended Wednesday's regular trading session higher by 0.55, at $47.98.
HomeStore Inc. (Nasdaq:HOMS)
Real estate media and technology solutions provider HomeStore Inc. announced late Wednesday that it has sold its WyldFyre software business to a subsidiary of Siegel Enterprises, namely Wyld Acquisition Corp. for a purchase price of $8.5 million in cash. HomeStore added that 10% of the purchase price would be placed in an escrow account to secure Wyld Acquisition's indemnification obligations to WyldFyre, whose products allow real estate professionals to access display and manipulate property information, photos and maps online or on their desktop.
Shares of HOMS closed Wednesday's regular trading session up $0.15 at $2.92.
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