WESTON, Fla., Feb. 23, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Reward Enterprises (OTCBB:RWRD), Motorola, Inc. (NYSE:MOT), Siebel Systems, Inc. (Nasdaq:SEBL) and NASDAQ 100 TR SERIES I (Nasdaq:QQQQ).
Aggressive investors and day traders may be watching Reward Enterprises (OTCBB:RWRD) this morning as the company plans expansion! Yesterday after the markets closed, the company, a diversified financial services company specializing in sub-prime consumer lending, issued a press release announcing that its Consumer's Choice Financial Services unit has launched a subsidiary to operate a consumer debt recovery business.
This could be big news for investors due to the expansion's potential for bringing in revenue! The new subsidiary will operate as Consumers Solutions, Inc. and new operations will be managed by Bennet Blow, President of Retail Collections Services, Inc., which is a privately owned company with a staff of approximately 70 collections professionals. Face-value collections have averaged $12,000,000 over the past five years. The plan is to bring an additional 25 professionals in to work on the Consumers Solutions operations.
Investors watch this one as the company's new subsidiary begins to unfold! Jeff Fisher, CEO of Reward Enterprises, stated, "We are excited to announce the launch of our consumer debt recovery business today. This business is an important cornerstone for our overall business model. Our association with the Retail Collections Services, Inc. operation gives Consumers Solutions the immediate office, personnel and management resources that it needs to begin operations without the typical start-up delays. Plans are to purchase an initial $3,000,000 face-value portfolio and begin working our programs."
Retail Collections Services, a Houston-based debt recovery company, will retain a 30% ownership in the subsidiary.
For more in-depth coverage of Reward Enterprises, visit http://www.backissuesofnewsalerts.us/RWRD0222.html
Prior to the press release, the stock had closed at just under a penny a share.
In case you are not familiar with the company: Consumers Choice is a consumer financial services company with operations in consumer debt-acquisition and many facets of sub-prime consumer lending. Based in Houston, Consumers Choice has an aggressive growth and expansion plan that includes a bank charter for issuing credit cards to targeted sub-prime consumers. For more information, visit www.consumerschoicefinancialservices.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Motorola, Inc. (NYSE:MOT) down 1.3% on 12.8 million shares traded, Siebel Systems, Inc. (Nasdaq:SEBL) down 2.4% on 10.8 million shares traded and NASDAQ 100 TR SERIES I (Nasdaq:QQQQ) down 1.2% on 121.2 million shares traded.
Commentary:
"The Fed last week met, and minutes of their meeting indicated that interest rates would keep rising to fight inflation. Greenspan also gave support last week to Social Security reform. He's just an old fashioned kind of guy that likes to pay his bills as he goes and warns against too much borrowing," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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