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InvestSource Inc.: Universal Detection Technology's Anti-Microbial
Washing Additive Proves Effective Against the Re-Growth of MRSA
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:12052008
Stocks in the News: Universal Detection Technology (OTCBB: UDTT),
IntercontinentalExchange, Inc. (NYSE: ICE), Ford Motor Co (NYSE: F),
Exactech Inc. (NASDAQ: EXAC), Core-Mark Holding Company, Inc. (NASDAQ
GS:CORE), and Dril-Quip, Inc. (NYSE: DRQ)
May 9, 2008 - Universal Detection Technology (www.udetection.com)
(OTCBB: UDTT) (Frankfurt:PO8), a developer of early-warning monitoring
technologies to protect people from bioterrorism and other infectious
health threats and provider of counter-terrorism consulting and
training services, announced today that its Anti-microbial washing
machine additive is effective in sterilizing fabrics and linen from
harmful bacteria such as Methicillin-resistant Staphylococcus aureus
(MRSA). MRSA is found worldwide, predominantly in hospitals and
institutions such as nursing homes. Recently MRSA has also spread in
the general community. There are three main reservoirs (and hence
sources of spread and infection) for MRSA in hospital and institutions:
staff, patients and inanimate objects such as beds, linen and utensils.
Hospitals need to take precautions to prevent the spread of MRSA by
sterilizing linen and clothing. MRSA infections occur in approximately
94,000 persons each year and are associated with approximately 19,000
deaths. Of these infections, about 86% are healthcare-associated and
14% are community-associated. "The spread of MRSA in Hospitals and long
term care facilities is of great concern," said Mr. Jacques Tizabi,
UDTT's Chief Executive Officer. "We see a large market for anti MRSA
products and in particular our Silver additive that not only kills MRSA
but also keeps the treated area sterile," he added.
May 9, 2008 - IntercontinentalExchange, Inc. (NYSE: ICE), a leading
operator of global exchanges and over-the-counter (OTC) markets, today
responded to Congressional proposals to modify the operation of
regulated global energy exchanges. Sound market oversight and the
cooperation between regulators in the U.S. and U.K. are already in
place for energy futures markets. The hastily submitted legislative
proposals to place arbitrary controls on regulated energy futures
markets do not offer short-term relief or long-term solutions to the
drivers of crude oil prices. The well-documented rise in worldwide
demand for crude oil cannot be impacted by government imposed market
controls. The various trading proposals by Senate Democrats would
result in adverse consequences for consumers, market prices and on the
competitiveness of the U.S. markets. Markets provide important price
signals that reflect the collective real-time views of thousands of
market participants, and provide information to producers who rely on
the operation of these markets to make long-term investment decisions.
Proposals designed to place restrictions on qualified participants
would inevitably impact liquidity, leading to the degradation of price
discovery, and importantly, increasing the potential for even greater
price volatility. The presence of hedgers, and those that are willing
to take on the risk that hedgers wish to lay off, are vital to properly
functioning markets. As recently as 2006, the U.S. Commodity Futures
Trading Commission (CFTC) held hearings on the issue of foreign boards
of trade and subsequently reiterated its view that mutual recognition
was beneficial for markets. The resulting mutual recognition system is
now a cornerstone of CFTC policy. Since 1982, the CFTC has actively
engaged with regulatory agencies around the world to ensure fair and
open access to global markets. Hastily enacted legislation that seeks
to alter well-established regulatory policy could greatly impair the
functioning of commodity markets to the detriment of American consumers.
May 9, 2008 -- Billionaire investor Kirk Kerkorian on Friday launched
his planned tender offer to add to a stake in Ford Motor Co (NYSE: F)
he said he acquired as an "attractive investment" and not to influence
the automaker. The cash tender offer for 20 million Ford shares through
Kerkorian's Tracinda Corp is priced at $8.50 and is scheduled to expire
at 5 p.m. EDT (2100 GMT) on June 9 unless it is extended, Tracinda said
in a statement. Tracinda Corp, of which Kerkorian is the sole investor,
said it may propose business strategies for Ford depending on its
evaluation of the automaker's business and other factors, and could
acquire more shares after the tender offer. "We are making our offer
because we believe that the current management and leadership at Ford
Motor Company and the pending execution of management's turnaround
strategy make Ford Motor Company an attractive investment," Tracinda
said in a filing with the U.S. Securities and Exchange Commission.
May 9, 2008 - Exactech Inc. (NASDAQ: EXAC), a developer and producer of
bone and joint restoration products for hip, knee, shoulder, spine and
biologic materials, announced today that it has entered into definitive
agreements with certain institutional investors to sell 877,391 shares
of its common stock at a price of $23.00 per share, resulting in gross
proceeds of approximately $20.2 million and net proceeds of
approximately $18.8 million after offering expenses and placement
agency fees. Exactech offered the shares pursuant to an effective
registration statement previously filed with the Securities and
Exchange Commission. The offering is expected to close on or before May
14, 2008 and is subject to certain closing conditions. Exactech
Chairman and CEO Bill Petty said, "We are pleased with the closing of
these transactions. We believe this capital will build shareholder
value by further enabling Exactech's plans for growth." Chief Financial
Officer Jody Phillips said, "The impact of this share issuance has
already been factored into our financial targets and we reiterate our
2008 guidance of revenues of $162-$169MM and diluted EPS of
$0.92-$0.98." The company expects to use the net proceeds from the sale
of these securities for the payment of debt, and the remainder, if any,
for general corporate purposes, including working capital, product
development and capital expenditures.
May 9, 2008 - Core-Mark Holding Company, Inc. (NASDAQ GS:CORE), one of
the largest North American distributors to the convenience retail
industry, announced today that it has signed a definitive agreement to
acquire substantially all of the assets of Auburn Merchandise
Distributors, Inc. for approximately $28 million. The assets being
purchased include primarily accounts receivable, inventory and fixed
assets. This agreement does not provide for the purchase of real
property or significant liabilities. Core-Mark expects to fund the
transaction from excess availability under its $250 million Revolving
Credit Facility and from working capital that will be generated after
the close. The deal is expected to close in June and be accretive in
2008 excluding approximately $1.4 million in start up and conversion
costs. Auburn has historically generated annual sales of approximately
$260 million and is well positioned to service a multi-state geography,
complementing the Core-Mark distribution footprint in the Northeast
marketplace. "We are very pleased to be joining the Core-Mark family
and look forward to being part of a company with such a great
reputation for customer service and a history of success. We believe
that together with Core-Mark we will have a team very well suited to
serve the Auburn customers," said Bill Potvin, President of Auburn
Merchandise Distributors.
May 9, 2008 - Dril-Quip, Inc. (NYSE: DRQ) today announced net income of
$25.4 million, or $0.62 per diluted share for the three months ended
March 31, 2008, versus net income of $24.1 million, or $0.59 per
diluted share for the first quarter of 2007. Total revenues increased
approximately 12.5% to $132.4 million for the quarter ended March 31,
2008 from $117.7 million for the same period in 2007 as the Company
continued to experience strong worldwide demand for its products and
services. Operating income increased to $34.7 million in the first
quarter of 2008 from $32.7 million in the first quarter of 2007. In
addition, the Company announced that its backlog at March 31, 2008 was
approximately $438 million, compared to its March 31, 2007 backlog of
approximately $345 million. The Company expects its earnings per share
for the quarter ending June 30, 2008 to approximate $0.60 to $0.70 per
share, excluding any unusual or special charges. The Company also
announced that its Board of Directors has authorized a share repurchase
program under which the Company can repurchase up to $100 million of
its common stock. The repurchase program has no set expiration date.
Repurchases under the program will be made through open market
purchases, privately negotiated transactions or plans, instructions or
contracts established under Rule 10b5-1 under the Securities Exchange
Act of 1934. The manner, timing and amount of any purchase will be
determined by management based on an evaluation of market conditions,
stock price and other factors. The program does not obligate the
Company to acquire any particular amount of common stock, and may be
modified or suspended at any time at the Company's discretion. Any
repurchased shares are expected to be cancelled.
The stock market remained in a funk for the majority of Friday's
trading, but managed to attract some modest buying interest late in the
session. The buying was short-lived as stocks retreated to close at
their previous levels, concluding the week almost 2.0% lower. Investor
pessimism was exacerbated by record high oil prices. Crude closed at
$125.88 per barrel on the Nymex, which is a new record closing high.
Crude set a new record closing high every session this week. Despite
the rise in oil prices, the energy sector (-1.0%) attracted few buyers.
The sector was a primary laggard throughout the session. Materials
(-1.5%) were also largely out of taste. After climbing more than 2.0%
in the previous session, the sector consistently underperformed its
counterparts in Friday's action. Specific weakness was exhibited by Dow
Jones component American International Group. The financial giant
incurred $9 billion in pretax charges and announced an $8 billion loss
for its most recent quarter. In turn, the company is planning to raise
more than $12 billion through a common stock and equity linked offering
to help bolster its financial health. Weakness was also exhibited by
fellow Dow components Exxon Mobil and General Electric. Both were
laggards, weighing on the S&P 500. The Nasdaq finished the session
lower, but was a relative leader among the three major indices. The
Nasdaq was helped by Priceline.com and Activision. Both companies
reported after yesterday's close earnings results that surpassed
analysts' estimates for the most recent quarter. Despite broad-based
weakness in equities, Treasuries also attracted little buying interest.
The benchmark 10-year Treasury Note closed just 2 ticks higher, moving
its yield to 3.77%. In economic news, the March trade deficit totaled
$58.2 billion, which is less than economists expected and down from the
revised $61.7 billion deficit reported for February. A narrowing
deficit bodes well for GDP, which will likely be favorably reflected in
revisions to first quarter GDP.DJ30 -120.90 NASDAQ -5.72 NQ100 -0.3%
R2K +0.1% SP400 +0.1% SP500 -9.40 NASDAQ Dec/Adv/Vol 1454/1340/1.70 bln
NYSE Dec/Adv/Vol 1639/1432/1.10 bln ABOUT INVESTSOURCE, INC.: WIN an 8
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www.ceo-corner.com This opinion contains forward-looking statements
that involve risks and uncertainties. This material is for
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a solicitation to buy or sell securities. InvestSource, Inc. has
prepared all material herein based upon information believed to be
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all-inclusive. The companies that are discussed in this release have
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