DALLAS, April 7, 2004 (PRIMEZONE) -- Wall Street Futures, a leading news source for small-cap investors, has resumed its coverage of the medical staffing industry, and continues to watch a number of companies in this space that appear to be poised for long-term growth.
Wall Street Futures believes that sustained growth in this industry is likely to be achieved by companies with established track records as well as sizeable government contracts that represent reliable sources of long-term revenue. These companies continue to attract aggressive investors as potentially worthwhile opportunities.
Three weeks ago, Wall Street Futures identified MSSI-TeleScience International, Inc. (OTCBB:MSSI), a provider of long-term medical personnel, homeland security and technology services to federal, state and local government agencies as well as the private sector. This week, MSSI announced a five-year contract from the Air Force Medical Logistics Agency to fulfill staffing requirements at Keesler Air Force Base in Biloxi, Mississippi.
The company also has long-term contracts with the U.S. Army, the U.S. Department of Health and Human Services, and the States of California and Pennsylvania, to mention a few, as well as ongoing sales efforts that continue to yield new public sector contracts on what appears to be a bi-weekly basis.
Many large medical staffing companies experienced significant increases in their stock valuations over the past week, suggesting that investors are considering alternatives in this space. Most notably, three companies independently experienced price gains of nearly six percent in the past five trading days: AMN Healthcare Services (NYSE:AHS), Cross Country (Nasdaq:CCRN), and Medical Staffing Network (NYSE:MRN), each of which Wall Street Futures listed as a "stock to watch" last week. Meanwhile, Gentiva Health Services (Nasdaq:GTIV) is up nearly two percent in five trading days; and On Assignment (Nasdaq:ASGN) is up nearly 10 percent in that same timeframe.
MSSI shares closed yesterday at $0.25, up more than 19 percent from the previous close. The value of the stock has now doubled since a low of $0.12 per share on March 24, but still is significantly below its six-month high.
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