Public companies love to release positive news and watch the reflection in their stock prices. The following companies released positive news of some kind today or late yesterday and then watched as their stock prices closed very strong.
Endeavor Energy Corporation (OTCBB: ENEC) announced that the company has officially acquired Australian Offshore Oil and Gas Concession Vic/P60. Endeavor Energy had originally entered an agreement to purchase the promising oil and gas concession on April 18th, 2007. The news of this acquisition helped Endeavor’s stock price rise by 21 percent, or 29 cents, to $1.64
“In excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been discovered in the basin since exploration drilling began in 1964,” explains Cameron King, CEO of Endeavor Energy, in a statement. “The area has since yielded billions of barrels of production. It’s a very rich region, and we are very fortunate to have the opportunity to explore the area.”
In other news, investors love to get excited about earnings reports. Credence Systems Corporation (NASDAQ: CMOS), a provider of automatic test equipment (ATE) for the worldwide semiconductor industry, announced today that it intends to report Third Quarter Fiscal 2007 financial results after the close of regular trading on Thursday, August 30, 2007. The excitement sent Credence’s share price soaring as the price reached $2.27, up 31 cents or 16 percent on the day.
Parlux Fragrances Inc. (NASDAQ: PARL) announced today a global licensing arrangement with Nicole Miller for the development, marketing and distribution of fragrances under the Nicole Miller and nicole by Nicole Miller Brand names. This arrangement helped drive stock price up as shares increased 27 cents, or 9 percent, to $3.35.
“Nicole Miller is the perfect partner for us as we implement our plan to round out our portfolio at the upper end,” said Neil J. Katz, CEO of Parlux Fragrances, in a statement. “Just as she has established a distinct design signature in apparel that appeals to modern women around the world, we feel she will break through in fragrance to create a scent with similar appeal.”
In the bigger markets, the Dow continued to trade down as it approached the 13,000 mark, but tried to make a slight comeback today finishing 31 points below its open. The Nasdaq also finished down on the day and the S&P lucked out when the late rally provided a .55 point gain today. The late rally in the markets was caused by the fed injecting cash into the banking system to help during the current subprime woes.
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