SARASOTA, Fla., Oct. 14, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Galaxy Minerals (OTCBB:GAXY), Novellus Systems, Inc. (Nasdaq:NVLS), Lam Research Corp. (Nasdaq:LRCX) and Sirius Satellite Radio Inc. (Nasdaq:SIRI).
Mining stock investors may want to take a look at a little known company called Galaxy Minerals (OTCBB:GAXY). Galaxy announced after the closing bell Wednesday "that it has taken a large step toward production at its Yellow Jacket Mine Property in Santa Cruz County, Arizona. As recently stated by the Company, Galaxy now intends to complete pre-production planning at the Yellow Jacket Project, with Phase III commencing immediately."
Operations Director Bruce Oettel stated, "Phase III Operations on the Yellow Jacket Mine looks to be exciting as the data gathered to date has been very encouraging. It is anticipated that the coarse gold found in recent assays may be in evidence throughout the workings. With this infusion of cash, we will get to the point of pre-production faster."
GAXY is currently trading at around .40 a share.
On the Nasdaq;
Novellus Systems, Inc. (Nasdaq:NVLS)
Semiconductor manufacturing equipment Novellus Systems, Inc. (Nasdaq:NVLS) announced after the closing bell Wednesday financial results for the third quarter, reporting a profit versus a loss last year, on higher sales.
The company reported $54.7 million in profit, or 38 cents a share, before $10 million in one-time gains, meeting its own lowered third-quarter forecast. The company had a loss of $97.6 million, or 64 cents a share, compared to the same period last year. Revenue jumped 88 percent to $415.9 million.
NVLS closed Wednesday's regular session at $26.88 on volume of 8,349,801 shares.
Lam Research Corp. (Nasdaq:LRCX)
Semiconductor processing equipment company Lam Research Corp. announced financial results for the September Quarter after the bell Wednesday, reporting earnings that rose from the last year on higher revenues and topped the Wall Street Estimates. The company posted quarterly net income of $89.8 million, or $0.64 per diluted share, compared to $4.8 million or $0.04 per share in the same quarter last year. Revenues increased to $419.5 million from $183.7 million in the year-ago quarter.
LRCX closed Wednesday's regular trading session up .89 at $22.59 on volume of 4.4 million shares.
Sirius Satellite Radio Inc. (Nasdaq:SIRI)
Satellite radio service provider Sirius Satellite Radio Inc. announced on Wednesday that it has completed $230 million offering in aggregate principal amount of its 3-1/4% Convertible Notes due 2011, and an offering of 25 million common shares.
Sirius said that the net proceeds of $321 million includes the net proceeds received as a result of the exercise by the underwriter, Morgan Stanley & Co. Inc., of its option to purchase up to an additional $30 million principal amount of the convertible notes.
SIRI closed Wednesday's regular trading session down one cent at $3.74 on volume of 93,603,152 shares.
About eLocity Inc: eLocity owns and operates three financial websites for investors.
-- PennyPicks.com, http://www.pennypicks.com/. Featuring active message boards for the penny stock trader, rumors and more.
-- StockGrid.com, http://www.stockgrid.com/. Visit this site for our daily top stock "GRID Makers". We rank stocks on volume, message board activity, sentiment and trend forecast.
-- Bell2Bell.com, http://www.bell2bell.com/. Bell2Bell features news stories, rumors, the InvestBoard and more.
Sign up for FREE at any of the sites above.
The newsletter is provided by eLocity Inc., an electronic broadcaster and publisher of this newsletter, is here after referred to as "the company". The company is to receive compensation for newsletter services for Galaxy Minerals, (Public Company). The compensation is forty thousand dollars from a non-affiliated third party Knights Bridge Capital Corp. Because the company received compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
The company reserves the right to trade in securities mentioned herein, and may make purchases or sales in such securities featured within our newsletter reports. The information contained in this publication is for informational purposes only, and not to be construed as an offer to sell or solicitation of an offer to buy any security. The company makes no representation or warranty relating to the validity of the facts presented nor does the company represent or warrant that all material facts necessary to make an investment decision are presented above. All statements of opinions, if any, (Our Summary) are those of the company.
The company relies exclusively on information gathered on the Public Company, such as public filings, press releases and its web sites. Investors should use the information contained in this publication as a starting point for conducting additional research on the Public Company in order to allow the investor to form his or her own opinion regarding the Public Company. Factual statements contained in this publication are made as of the date stated and they are subject to change without notice. The company is not a registered investment adviser, broker or a dealer.
Investing in the Public Company that this newsletter is providing service for should be reviewed is speculative and a high-risk and may result in the loss of some or all of any investment made in the client. This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended.
The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements.