PennyTrader.com Presents Today’s Midday Stock Report: WTCG, QTWW, NTWK
All three of the major market averages hold gains in excess of 1.0% despite today’s disappointing initial claims data.
Avid Technology (AVID 8.79, -1.49) is down 14.5% after issuing downside guidance for first quarter revenues. The company is now calling for revenues of $152 million ($161.1 million Capital IQ Consensus Estimate), saying the shortfall is due to weaker demand in the creative enthusiast portion of its business. That number would represent a 30% decline in revenues on a year over year basis.
WTCG - Trade Alert
Up 80% in morning trading to $.045 with 900K shares traded
W Technologies, Inc. and its subsidiary, SoMo Technologies, focus on the utilization and integration of social media such as Facebook, Twitter and LinkedIn to facilitate interactive, two way communications via the cell phone, between the client and the buying public, creating a stronger, more trusting relationship with the customer. W Technologies, Inc. (OTC Pinksheets: WTCG) announced today that the Company’s wholly owned subsidiary, SoMo Technologies, Inc., has completed the development of VIP Members Corp’s new Casino/Hotel mobile app.
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QTWW – News Alert
Up 14.19% in morning trading to $.6509 with 700K shares traded
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, natural gas vehicle storage technologies, and alternative fuel vehicles. Quantum’s wholly owned subsidiary, Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement Quantum’s emerging renewable energy presence through the development and ownership of wind and solar farms, and manufacture of high efficiency solar modules. Quantum’s portfolio of technologies includes electronic controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and natural gas vehicles. Quantum’s powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, natural gas fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum Technologies, Inc. (Nasdaq: QTWW – News), announced today that it has fully repaid all of the outstanding indebtedness owed to its senior secured lender and, as a result of such repayment, the Credit Agreement between the Company and its senior secured lender has been terminated.
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NTWK – News Alert
Up 8.60% in morning trading to $.4344 with 600K shares traded
NetSol Technologies, Inc. is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol’s product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company’s clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh. NetSol Technologies, Inc. (Nasdaq:NTWK – News) today announced that its Vroozi division has signed an agreement with a top U.S. media company to implement a full B2B e-commerce search engine suite, including the smartOCI Search Engine, Catalog Manager and Supplier Marketplace. The name of the customer and total value of the agreement were not disclosed for competitive reasons.
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