SARASOTA, Fla., Sept. 29, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Gluv Corp. (Pink Sheets:GLVP), Gibraltar Steel Corp. (Nasdaq:ROCK), ScanSoft Inc. (Nasdaq:SSFT) and Med Gen Inc. (OTCBB:MDGN).
Gearing up for the HDTV explosion is Gluv Corp. ("Gluv") (Pink Sheets:GLVP). Gluv announced after the closing bell Tuesday that its, "subsidiary SDS Productions, LLC, an Alabama-based digital communications company has expanded its production capacities to include high definition (HD) image capture and finishing. Specifically created to take advantage of the new broadcast standards enacted by the Federal Communications Commission (FCC), the new capability will enable SDS Productions to produce projects that may either be 'down converted' for traditional broadcast today, or aired via the growing number of high- definition programming networks." GLVP is currently trading around .04 a share.
On the Nasdaq;
Gibraltar Steel Corp. (Nasdaq:ROCK)
Steel and products and heat treating materials company Gibraltar Steel Corp. announced after the bell Tuesday its increased earnings guidance for the third quarter. The company said that it now expects to report third quarter in the range of $0.76 to $0.79 per share, up from its earlier projection of $0.61 to $0.65 per share.
Gibraltar Steel Corp., which reported $0.49 per share in the third quarter of 2003, attributed the increased third quarter guidance to the higher-than-expected levels of business activity and increased market penetration that began during the first quarter of the year.
Shares of ROCK closed Tuesday's regular trading session up $1.26 at $34.85 and was trading higher at $35.99 in the after hours market.
ScanSoft Inc. (Nasdaq:SSFT)
Speech and imaging solutions provider ScanSoft Inc. announced after the closing bell Tuesday that it has appointed Jamie Arnold as the company's Senior Vice President and Chief Financing Officer, effective immediately.
The company stated that Arnold would be responsible for its accounting and controls, financial planning and analysis, and Sarbanes-Oxley and corporate governance initiatives and added that before joining ScanSoft, Arnold most recently served as a corporate VP and corporate controller of Cadence Design Systems Inc. ScanSoft stated said that David Gerth, who has held this position since August of 2003, is leaving the company to spend time with his family and pursue other interests.
Shares of SSFT closed Tuesday's trading session at $4.14.
On The OTCBB;
Med Gen Inc. (OTCBB:MDGN)
Manufacturer of the national brands Snorenz(r), snore relief throat spray and Good Nights Sleep(r), sleep-aid throat spray, Med Gen Inc., announced Tuesday that it has received orders from Gristedes and Sloan's Supermarkets, located in New York City, for both products.
Paul Kravitz, Med Gen's Chairman, stated, "Quieting the snoring noise emanating from New York City has been Med Gen's goal for over 2 years."
Med Gen stated that Gristedes and Sloan's stores will benefit from its New York City advertising campaigns set to kick off in Mid October, and that its marketing campaign for 2005 is aimed at aggressive promotions in large urban cities, thus getting the biggest bang for its advertising dollar.
MDGN closed Tuesday up .30 at $6.94 on strong volume of 6,105,476 shares.
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