SARASOTA, Fla., Oct. 28, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
Tubac Holdings, Inc. (Pink Sheets:TBAH); Laserscope Inc. (Nasdaq:LSCP); Activision, Inc. (Nasdaq:ATVI)
Making news is Tubac Holdings, Inc. (Pink Sheets:TBAH). A holding company that specializes in bringing dynamic private companies into the publicly traded arena. Tubac announced on Wednesday after the closing bell that it has either completed or entered into a letter of intent with four major public company reorganizations in the last two months. Tubac will own approximately 20% of New Life Solutions in addition to three other publicly traded companies upon completion of each transaction. The companies include Chef Selections of the Gourmet Food Industry, New Life Solutions of the Nutraceutical Industry, and Gold and Oil Production Partners, Hagrid Mining and Development, and Quaestus Refining, LLC.
Tubac stated in an earlier press release, it is estimated that Hagrid Mining and Development LLC when at a partially developed production schedule, should account for nearly a Ton of Gold a year equating to over $12,000,000 annually.
Other stocks showing interesting activity on Wednesday were:
Laserscope Inc. (Nasdaq:LSCP)
Medical laser systems provider, Laserscope Inc., announced Wednesday third quarter results reporting earnings that improved from last year, on higher revenues. The company reported third quarter net income of $4.4 million or $0.19 per share, compared to $0.53 million or $0.02 per share in the year ago quarter. Revenues for the quarter increased 69% to $24.2 million, from $14.3 million reported for the prior year similar quarter.
LSCP closed Wednesday's regular trading session up $6.49, or 32.93%, at $26.20 on volume of 2.4 million shares.
Activision, Inc. (Nasdaq:ATVI)
Shares of interactive entertainment software product provider Activision, Inc. closed Wednesday up 86 cents to $14.05 on strong volume of 5.9 million shares. The company revealed its second quarter earnings on Tuesday on revenues that more than doubled over last year.
Activision reported a quarterly net income of $25.5 million, or $0.17 per diluted share, compared to a net loss of $10.1 million, or $0.08 per share, in the year-ago quarter. The company's revenues for the quarter rose 164% to $310.6 million from $117.5 million last year.
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