WESTON, Fla., May 9, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: SoftNet Technology Corp (OTCBB:STTC), Sprint Corp. (NYSE:FON), JDS Uniphase Corp. (Nasdaq:JDSU) and Best Buy Co. Inc. (NYSE:BBY).
Aggressive investors and traders may be watching SoftNet Technology Corp (OTCBB:STTC) again this morning! Late Friday afternoon, the company issued a press release announcing that it's Subsidiary, Indigo Technology Services, has entered into a strategic alliance with Atlanta, Georgia based PearlNet LLC.
This could be great news for the company! According to the company's press release, the relationship is expected to yield large increases in revenue for both companies.
PearlNet has selected Indigo as a Strategic Partner in supporting their efforts to provide complete network infrastructure services to both Governmental and Commercial Clients. PearlNet has established itself as a leader in the Southeast United States over the last 10 years for providing quality infrastructure services and has secured several large multi-year projects for which Indigo will be a key resource.
Investors continue to watch the progress of SoftNet Tech! The press release also states that through aggressive marketing and sales efforts, PearlNet has experienced astronomical growth, exceeding total 2004 revenue in just the first quarter of 2005. Revenues for PearlNet are expected to exceed $8,000,000 for fiscal year 2005. The Strategic Alliance between PearlNet and Indigo is expected to provide continued and accelerated growth for many years. This partnership is expected to yield a minimum 75% increase in revenues year to year for Indigo Technology Services.
"It truly is an honor to have Indigo chosen by a firm of such reputable character as PearlNet which is operated by such astute business leaders as PearlNet's management," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "I have said that this 2nd quarter was going to be amazing. Well, it now has already met my expectations and leads me to believe that 2005 will be better than originally expected."
For more in-depth coverage of SoftNet Technology, visit http://www.backissuesofnewsalerts.us/STTC0508.html
The stock closed Friday at around Twenty Two cents a share.
Stocks showing interesting activity Friday at the close of the regular trading day were: Sprint Corp. (NYSE:FON) down 1% on 12.6 million shares traded, JDS Uniphase Corp. (Nadsaq:JDSU) up 0.7% on 36.7 million shares traded and Best Buy Co. Inc. (NYSE:BBY) even on 2.2 million shares traded.
Commentary: "The economy created 274,000 jobs in April, far more than the 175,000 expected. With job gains for February and March revised upward, investors felt far more confident in the strength of the job market and economic growth," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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