SARASOTA, Fla., Jan. 20, 2005 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: Eagle River Mining Corp. (OTCBB:ERVR); Symantec Corp. (Nasdaq:SYMC), Qualcomm Inc. (Nasdaq: QCOM) and Extreme Networks Inc. (Nasdaq:EXTR).
Investors will want to have a look at a media ownership firm that has focused its core business in greater China, and is one of the largest and most influential media communications suppliers and specialists in Southern China. Effective immediately, Eagle River Mining Corp. announced that the Company has changed its name to China Media1 Corp. The name will better reflect the new business direction of building China's premier media ownership company. A new trading symbol and a new CUSIP number will be available shortly.
China Media1 also announced a new 3 month advertising contract from the China Marketing Division of Skyworth Group. This contract is for approximately U.S.$100,000 or U.S.$33,300 monthly. Started in Hong Kong in 1994, Skyworth is now the largest TV exporter from China. They are also a Hong Kong Exchange listed company with a market capitalization of over U.S.$600 million (HK$ 5 billion).
ERVR is currently trading at around 50 cents a share.
Symantec Corp. (Nasdaq:SYMC)
IT infrastructure software developer, Symantec Corp., announced its third quarter financial results after the bell Wednesday, reporting GAAP net income of $164 million, or $0.22 per share, compared to a GAAP net income of $111 million, or $0.16 per share in the same quarter of last year. On a non-GAAP basis, Symantec posted a net income for the quarter of $175 million or $0.24 per share, compared to $120 million or $0.17 per share in the prior-year quarter. Revenues for the quarter were $695 million, up 41% from $494 million in the same quarter of last year. Thirty-four analysts had a revenue consensus of $665.06 million for the quarter.
SYMC closed Wednesday's regular trading session at $24.88, on volume of 17.3 million shares.
Qualcomm Inc. (Nasdaq:QCOM)
Digital wireless telecommunication products and services company, Qualcomm Inc., announced financial results for the first quarter of fiscal 2005 after the bell Wednesday, reporting that net income, excluding QSI segment, for the first quarter was $474 million or $0.28 per share, compared to $391 million or $0.21 per share for the year-ago quarter. Qualcomm Inc. said that net income for the quarter, including QSI, was $513 million or $0.30 per share, versus $352 million or $0.21 per share for the previous year quarter. Quarterly revenues, excluding QSI, were $1.39 billion, up 21% from $1.2 billion for the prior year quarter. Revenues, including QSI, was $1.39 billion for the quarter.
QCOM closed Wednesday's regular trading session at $41.07, on volume of 23.9 million shares.
Extreme Networks Inc. (Nasdaq:EXTR)
Extreme Networks Inc. announced second quarter financial results after the bell Wednesday, reporting quarterly earnings of $9.95 million or $0.08 per diluted share, compared to a net loss of $5.6 million or $0.05 per diluted share registered in the year-ago quarter. Net revenues for the quarter rose 20% to $100.3 million from $83.4 million in the prior year period, the company said.
EXTR ended Wednesday's regular trading session at $5.88, on volume of 1.7 million shares.
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The newsletter is provided by eLocity Inc., an electronic broadcaster and publisher of this newsletter, is here after referred to as "the company". The company received compensation for this newsletter service on Eagle River Mining (Public Company). The compensation is 110,000 free trading shares of ERVR from a non affiliated third party, Investor Response LLC. Because the company received compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
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