WESTON, Fla., April 28, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Global Energy Resources Inc. (Pink Sheets:GERI), Exxon Mobil Corporation (NYSE:XOM), Oracle (Nasdaq:ORCL) and Newmont Mining Corporation (NYSE:NEM).
Aggressive investors and traders should be looking at Global Energy Resources Inc. (Pink Sheets:GERI) this morning! Yesterday, the company, an emerging, debt-free investment holding company with offices in Irvine, Calif., New York City and Verona, Italy, issued a press release announcing that its mortgage lending warehouse line of credit has increased from $50 million per sweep to $75 million per sweep.
This could be good news for investors! Effective immediately, the company will have the ability to submit loans totaling about $4 million per day into its line of credit. GERI's warehouse line is utilized by mortgage brokers and certain lending groups to finance their client's lending needs.
Investors continue to watch the progress of Global Energy! GERI's Finance division provides wholesale lending services for the commercial, residential, construction and timeshare industries. The division utilizes a warehouse line of credit. In addition, the finance division has marketing arrangements with major banks and mortgage banks to provide high-level customer service and solve lending needs. The division is developing a close relationship with a reputable company to provide the electronic processing of paperwork associated with its lending service. GERI specializes primarily in the financial services and distribution sectors.
For more in-depth coverage of Global Energy Resources, visit http://www.backissuesofnewsalerts.us/GERI0427.html
Prior to yesterday's press release, the stock closed yesterday at around Four cents a share.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Exxon Mobil Corporation (NYSE:XOM) down 1.5% on 20.6 million shares traded, Oracle (Nasdaq:ORCL) up 0.1% on 26.5 million shares traded and Newmont Mining Corporation (NYSE:NEM) down 6.3% on 14 million shares traded.
Commentary: "Martha Stewart Living Omnimedia Inc. reported a smaller first-quarter loss than last year, however, the company is still struggling with a 13% revenue drop. This is primarily from its loss of TV advertising as Ms. Stewart was away. Two new shows are slatted for the upcoming season and will help recapture some of those revenues. Revenues fell to $38.7 million from $44.50 the previous year, however, publishing revenues rose, helped by business from two new magazines," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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