SARASOTA, Fla., Nov. 4, 2004 (PRIMEZONE) -- eLocity's stocks to watch for today are: Morgan Beaumont, Inc. (OTCBB:MBEU), SFBC International Inc. (Nasdaq:SFCC), Hot Topic, Inc. (Nasdaq:HOTT) and Cephalon Inc. (Nasdaq:CEPH).
Investors will surely want to keep an eye on Morgan Beaumont, Inc. (OTCBB:MBEU). Morgan, one of the premier providers of Stored Value and Debit Card Solutions in the United States is making strides again as they have announced after the closing bell Wednesday that they reached an agreement with Bentley Commerce Corp, an online leader in worldwide barter and trade. The agreement with Bentley Commerce is to allow Morgan Beaumont's proprietary load software on Verifone 3750 equipment, bundled with Bentley Trade Cards and Morgan Beaumont Debit Cards to business members of Barter Exchanges across the U.S. and Canada.
The press release stated that the goal over the next 12 months is for Merchants in Bentley's network of affiliated Barter Exchanges, representing approximately 50,000 businesses, to be set up to accept Trade Cards as well as cash for services and sale of product.
Morgan Beaumont, Inc. is a Technology Solutions Company located in Sarasota Florida. Morgan is one of the premier providers of Stored Value and Debit Card Solutions in the United States.
MBEU currently trades at around .50 a share.
Other stocks making news --
SFBC International Inc. (Nasdaq:SFCC)
Specialized drug development service provider, SFBC International, Inc., announced Wednesday that it has signed a definitive merger agreement with PharmaNet Inc., with the transaction expected to be completed by the end of 2004. The company said that PharmaNet's unaudited net revenue for the nine months ended September 30. 2004 is about $88.3 million with a contracted backlog of $260.2 million.
SFCC closed Wednesday's regular trading session at $33.635, up $4.515, or 15.50%, on volume of 1.45 million shares.
Hot Topic, Inc. (Nasdaq:HOTT)
After the bell Wednesday, specialty retailer Hot Topic, Inc. lowered its third quarter earnings guidance as a result of the lower than expected October sales. The company said it now expects earnings of about $0.27 per share in the third quarter. Hot Topic added that net sales in October increased 10% to $56.2 million over last year. Comparable store sales declined 3.8% in October, compared to an increase of 11.2% in the same period last year. Net sales in the third quarter increased 12% to $180.7 million over last year.
HOTT closed Wednesday's regular trading session at $20.83, up $0.515, on volume of 1.77 million shares.
Cephalon Inc. (Nasdaq:CEPH)
Biopharmaceutical company Cephalon Inc. announced Wednesday after the closing bell financial results for its third quarter, reporting that its adjusted net income for the quarter increased to $46.17 million or $0.75 per share, from $33.83 million or $0.55 per share in the same period last year. Cephalon posted a loss of $165.24 million or $2.94 per share, compared to a profit of $22.27 million or $0.37 per share in the comparable period last year.
CEPH closed Wednesday's regular trading session at $48.07, up $1.56 or 3.35%, on volume of 2.21 million shares.
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