SARASOTA, Fla., Oct. 14, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Silver Star Energy, Inc. (OTCBB:SVSE), QLogic Corp. (Nasdaq:QLGC), Tetra TechInc. (Nasdaq:TTEK) and Applied Digital (Nasdaq:ADSX).
Energy stock investors may want to take a look at a little known company called Silver Star Energy, Inc. (OTCBB:SVSE), a company committed to exploring and developing oil and natural gas reserves throughout western North America through high quality, low risk prospects provided by key strategic alliance partnerships.
On Wednesday the company reported on the recent accomplishments that have been achieved and the exploration and development of oil and natural gas reserves throughout western North America undertaken by Silver Star. Silver Star and partners have been developing the North Franklin Project and the tie-in of the "Archer-Whitney No. 1" natural gas well that is now a near-term commercial gas producer.
SVSE is currently trading at around .70 a share.
On the Nasdaq;
QLogic Corp. (Nasdaq:QLGC)
Storage network solutions maker QLogic Corp. reported Wednesday that second-quarter profit rose 5 percent from the previous year, getting a boost from a declining income tax rate. QLogic Corp.'s quarterly income was $35.9 million, or 38 cents per share, compared to $34.2 million, or 35 cents per share, in the year-ago period. Revenue was $134.6 million during the quarter, up 1.8 percent compared to $129.8 million a year ago.
Shares of QLGC closed Wednesday's regular trading session up .76 at $30.12, on volume of 3,775,962 shares.
Tetra TechInc. (Nasdaq:TTEK)
Consulting, engineering and technical services provider Tetra TechInc. (Nasdaq:TTEK) announced on Wednesday that its joint venture with International Resources Group has won a $2 billion dollar ceiling contract from the U.S. Agency for International Development. The company said that the integrated water and coastal resources management contract is an indefinite quantity award with a five-year term, and added that the IRG-Tetra Tech Joint Venture is one of five large business contractor teams that will share in the $2 billion aggregate ceiling over the term of the contract.
TTEK closed Wednesday's regular trading session at $12.46, up 2 cents, on volume of 643,551 shares.
Applied Digital (Nasdaq:ADSX)
Security products provider Applied Digital and manufacturer of sensor and communications technologies Digital Angel Corporation (AMEX:DOC), announced that the FDA has approved their VeriChip, radio frequency identification, RFID, microchip for human use, for medical uses in the U.S.
VeriChip, the first implantable radio frequency identification microchip for human use is a subdermal RFID device can be used in a variety of security, financial, emergency identification and other applications.
Shares of ASDX closed Wednesday's regular trading session up 1.45, or 68.40%, at $3.57 on volume of 31,015,744 shares. DOC ended the trading session at $3.49 on 1,056,700 shares.
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