SARASOTA, Fla., Sept. 28, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
Fidelis Energy, Inc. (OTCBB:FDEI), Radware Ltd. (Nasdaq:RDWR) and AtheroGenics, Inc. (Nasdaq: AGIX).
Oil and Gas Related News
Oil prices reached a new high -- crude barrel oil approaching $50 mark. This is good news for investors of oil and gas companies such as Fidelis Energy, Inc. (OTCBB:FDEI). The Company will become a Commercial Gas Producer to the state of California when the construction of a pipeline at their North Franklin Gas discovery is completed in the next few weeks. Dedicated to developing North America's energy resources, Fidelis Energy announced after the closing bell Monday "the appointment of the new CFO, Mr. Sterling Klein. As an accounting professional with an outstanding record of accomplishment in corporate financial analysis and administration, Mr. Klein brings extensive Oil and Gas financial experience to the Company. The announcement was made by Company President, Mr. Dan Hodges.
FDEI is currently trading around .70 a share.
On the Nasdaq --
Radware Ltd. (Nasdaq:RDWR)
Manufacturer of intelligent application switching solutions Radware Ltd. raised its third quarter earning guidance Monday to $0.19 per share from its earlier projection of $0.17 per share. The company also expects third quarter revenue of 17.6 million, which is higher than its earlier expectations.
Radware Ltd. raised the forecast based up on the preliminary results for the third quarter ending on September 26, 2004 and added that the updated guidance based up on the information currently available is subject to the final closing of its books and customary accounting policies and adjustments.
Shares of RDWR closed Friday's regular session at $21.11 on volume of 767,545 shares.
AtheroGenics, Inc. (Nasdaq:AGIX)
Monday after the bell, Pharmaceutical company AtheroGenics, Inc., focused on the treatment of chronic inflammatory diseases, announced positive interim data from the CART-2 Phase IIb clinical trial with AGI-1067, its novel anti-inflammatory agent that targets atherosclerosis, as compared to current Standard of Care therapy.
The company stated data from the trial were independently analyzed by two of the world's leading cardiac intravascular ultrasound (IVUS) labs; the Montreal Heart Institute (MHI) under the direction of Jean-Claude Tardif, M.D., and the Cleveland Clinic Foundation (CCF) under the direction of Steven Nissen, M.D.
AGIX closed Monday's regular session at $23.16, and was trading at $36.35, up $13.19 in after-hours trading.
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