WESTON, Fla., May 6, 2005 (PRIMEZONE)- Wall Street News Alert's "stocks to watch" this morning are: Graystone Park Enterprises (Pink Sheets:GPKE), EMC Corporation (NYSE:EMC), The Goodyear Tire & Rubber Company (NYSE:GT) and International Business Machines (NYSE:IBM).
Aggressive investors and traders may have their sights set on Graystone Park Enterprises Inc. (Pink Sheets:GPKE) again this morning! Yesterday after the markets closed, the company issued a press release announcing its intention to spin off its first wholly-owned subsidiary; Gray Publishing & Media, Inc., founded by a veteran e-publishing executive.
This could be great news for the company's investors! David Gray is a pioneer in the digital distribution of academic content. His previous company, WizeUp Inc., became the world's largest digital publisher of college textbooks. Gray states, "This is a perfect financing vehicle to create wealth in its established Casebriefs brand." Shareholders of GPKE will receive a dividend in the form of stock issued by the new company, which will have its own symbol and will trade as a separate entity. The newly formed company is intending on making strategic acquisitions in the media and publishing spaces.
The press release also stated that GPKE has a number of other companies in its acquisition pipeline and intends on closing on the acquisition of Fishox Systems, Inc. shortly. Graystone's spin offs are anticipated to begin taking place over the next few months.
Investors continue to watch the progress of Graystone! Earlier this week, the company reported that its' wholly owned subsidiary, Gray Publishing & Media, Inc., has signed a Letter of Intent to acquire National Safe Schools, Inc. (NSSI), a DC-based safety and security company for public, charter and private school systems across the country.
For more in-depth coverage of Graystone Park Enterprises, visit http://www.1sourcealert.com/GPKE0505.html
Prior to yesterday's press release, the stock closed yesterday at around twenty-four cents a share.
In case you are not familiar with the company: Graystone Park Enterprises, Inc. was founded to assist the small business entrepreneur in growing his company and reducing the pitfalls that normally stall a start-up company. Graystone plans on acquiring middle stage companies in need of assistance to dramatically increase its market share. Graystone projects to acquire 5-10 companies in 2005, and an additional 8-12 companies in 2006. Graystone will maintain a substantial percentage of each subsidiary company after the subsidiary begins trading under its own symbol.
Stocks showing interesting activity yesterday at the close of the regular trading day were: EMC Corporation (NYSE:EMC) down 0.1% on 10.8 million shares traded, The Goodyear Tire & Rubber Company (NYSE:GT) up 1.6% on 9.9 million shares traded and International Business Machines (NYSE:IBM) down 2% on 12.3 million shares traded.
Commentary:
"Spring has sprung, but not at the retail level as consumers, hit with the higher price of gasoline and the cold weather, kept themselves and their wallets at home. In a report released by the International Council of Shopping Centers, sales for April are up a modest 2.2% nationwide; however, some stores fared much better than that. Wal-Mart was up a modest 0.9% and Target only 1.2%, but Nieman-Marcus, still proving that the rich are different, was up 14.2% and Norstrom's up by 6.9%. Additionally, those crazy teens helped BeBe retailer to have sales up 31.2%, and American Eagle Outfitters (those preppie yuppies) surged 20%," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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