SARASOTA, Fla., Nov. 9, 2004 (PRIMEZONE) -- eLocity's velocity stocks to watch for today are: Day Spas of America, Inc. (Pink Sheets:DYSP), 8x8, Inc.(Nasdaq:EGHT) and Multi-Fineline Electronix, Inc. (Nasdaq:MFLX).
Investors will surely want to keep an eye on Day Spas of America, Inc. (Pink Sheets:DYSP). Looking to expand their successful spa business, Day Spas announced today that it has agreed to purchase a 10,000 square foot commercial building in Apollo Beach, Florida. The building is in construction and is expected to be completed by late Spring 2005. The total cost of the project is $1,100,000.
This opportunity will provide Day Spas with affordable space for which they can expand its Apollo Beach Spa from its current 1,744 square feet to the desired 3,000 square feet.
Day Spas plan is to expand through new company-owned startups; acquisition of existing spas that meet strict criteria for conversion to Day Spa of America guidelines; the selling of license agreements to companies and individuals who desire to own a Spa but want the power and branding that Day Spas of America can provide.
Day Spas of America will have three distinctive market sizes. In a small market, their spas will be between 1,750 and 2,100 square feet. In a medium market, spas will run between 2,100 and 2,500 square feet. The large market store will run between 2,500 to a maximum of 3,000 square feet.
The company's intentions are to make Day Spas of America as the 7-11's of the spa world.
DYSP currently trades at around .30 a share.
Other stocks making news:
8x8, Inc.(Nasdaq:EGHT)
On Nov. 4, 8x8, Inc. announced it has signed an agreement with Cognigen Networks, Inc., an Internet-enabled marketer of communication services with more than 150,000 independent agents.
The Packet8 broadband voice over internet protocol (VoIP) and videophone communications service provider, is seeing its stock trade up today at $3.16 +0.33 (11.66) on heavy volume of 1,498,235.
Multi-Fineline Electronix, Inc. (Nasdaq:MFLX), reported yesterday that net sales for the fiscal year ended September 30, 2004, increased by 95 percent to $253.0 million from $129.4 million for fiscal 2003, while net income for fiscal year 2004 increased 458 percent to $25.7 million, or $1.27 per diluted share, compared to $4.6 million, or $0.38 per diluted share, for fiscal 2003.
A leading global provider of high-quality, technologically advanced flexible printed circuit and value-added component assembly solutions to the electronics industry, MFLX is currently trading up today at $14.05, +1.68 (13.58).
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