PennyTrader.com Presents Today’s Midday Stock Report: RCON, AAPT, SCHS
Stocks began to rebound, but the move has stalled with the release of the latest new home sales numbers. New home sales in April hit an annualized rate of 343,000, which is up from the prior month rate of 332,000, and a little better than the rate of 339,000 that had been broadly expected.
Although the broad market has been unable to extend its rebound, shares of the SPDR S&P Homebuilders ETF (XHB 20.53, +0.06) have moved into positive territory.
RCON - Trade Alert
Up 80% in morning trading to $2.97 with 1M shares traded
Recon Technology, Ltd. is a non-state-owned oil field service company in China. The company has been providing software, equipment and services designed to increase the efficiency and automation in oil and gas exploration, extraction, production and refinery for Chinese oil and gas fields for more than 10 years. Recon Technology, Ltd (RCON) announced today that one of its variable interest entities, Nanjing Recon Technology Co., Ltd. (”Nanjing Recon”), signed a major contract with the China National Petroleum Corporation’s (”CNPC”) Sichuan Petroleum Administration Bureau to provide the latter with the Emerson PCS & SIS Systems in its South Yolotan Gas Field Project (the “Project”) located in Turkmenistan. The total contract value exceeds RMB19 million (USD3.02 million), which was by far the biggest contract for the Project’s PCS & SIS Systems.
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AAPT – News Alert
Up 23.33% in morning trading to $.037 with 2M shares traded
All American Pet Company produces, markets, and sells natural super-premium and premium patented wellness products under proprietary brand names specifically for dogs. All American Pet Company, Inc. (AAPT.PK) announced today the expansion of its sales force. Tripling the total number of field representatives will allow the company to keep pace with the great reception received by its newest product innovation PAWTIZER™ — the first antibacterial paw wipe and spray for dogs. The 16 new members of the sales team will expand the company’s coverage of its big box, mass merchant, supermarket, pet specialty, pharmacy, convenience and independent food and non-food merchants in addition to the growing number of online retail accounts.
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SCHS – News Alert
Up 22.02% in morning trading to $2.965 with 150K shares traded
School Specialty is a leading education company that provides innovative and proprietary products, programs and services to help educators engage and inspire students of all ages and abilities to learn. The company designs, develops, and provides preK-12 educators with the latest and very best curriculum, supplemental learning resources, and school supplies. School Specialty (Nasdaq:SCHS – News) today announced that it has refinanced its existing credit facility with two new separate agreements. The new multi-year agreements consist of a secured $200 million asset-based credit agreement with a group co-led by affiliates of Wells Fargo & Company and GE Capital, and a separate secured $70 million credit agreement with an affiliate of Bayside Capital, Inc. The new agreements replace the credit agreement dated April 23, 2010, and last amended on July 1, 2011, which had outstanding borrowings of $130 million as of May 18, 2012.
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