Free Trial!
Today’s Best Stocks To Trade! Click Here
July 21, 2008 - Feature film producer and distributor Seven Arts Pictures plc (the Company) (OTCBB:SAPXF) (PLUS:SAPP), is pleased to announce the appointment of Michael Garstin as executive Managing Director and President of the Group as of 1 July 2008.
Michael began his career as a Lending Officer at Chase Manhattan Bank, then joined Filmways Corp., later renamed Orion Pictures, as a Board Director and Chief Financial Officer. Subsequently, he returned to Wall Street and worked as a Senior Managing Director and Head of the Media & Entertainment Group at Bear Stearns & Co., during which time he provided advice to and helped raise capital for a number of independent film companies including Carolco Pictures, on whose Board of Directors he served on for a number of years. Michael is well known and respected in financial circles for his understanding of motion picture financing and accounting.
Michael Garstin commented, "I am very excited to have the opportunity to join Seven Arts Pictures at this stage of its development. I believe that Seven Arts has the opportunity to consolidate its position as a one of the leading profitable independent film production and distribution companies in the business and I look forward to assisting my friend and former Carolco Board Member and CEO, Peter Hoffman, as well as his talented team, in achieving this goal."
Peter Hoffman, CEO of Seven Arts, said about the appointment, "It is a great pleasure to bring Michael's expertise in the world of finance and motion picture accounting to our company. I have known Michael for more than 20 years and worked with him on many transactions. There is no more knowledgeable and experienced executive in our business."
July 21, 2008 - RHI Entertainment, Inc. (NASDAQ: RHIE | Quote | Chart | News | PowerRating) announced today that it will release its second quarter 2008 earnings after the market closes on Thursday, August 7, 2008. Management will hold a conference call to discuss the quarter's earnings and the company's outlook at 5:00 p.m. ET on the same day.
To access the call, interested parties in the United States and Canada may dial (866) 406-5408. Those participants outside of the U.S. and Canada may dial (973) 582-2770. The conference call I.D. is 56721737.
A replay of the earnings call will be available beginning three hours after the completion of the call on Thursday, August 7, 2008 through August 21, 2008. To hear the replay, callers in the U.S. and Canada may dial (800) 642-1687 and international callers may dial (706) 645-9291. The conference call ID number is 56721737.
This call is also being web cast and can be accessed at RHI Entertainment's Investor Relations Web site at http://ir.rhitv.com.
July 21, 2008 - Citadel Broadcasting Corporation's (NYSE: CDL | Quote | Chart | News | PowerRating) ABC Radio Networks, Clear Channel Radio's Premiere Radio Networks and Sean Hannity today announced an unprecedented syndication arrangement for The Sean Hannity Show. Effective Dec. 28, 2008, ABC Radio Networks will continue syndicating the program on Citadel-owned stations while Premiere Radio will syndicate the program on Clear Channel-owned stations as well as radio stations not owned by either company. Advertising sales for the program will be led by Premiere Radio, which will begin selling inventory for 2009 forward, effective immediately. Going forward, Premiere Radio and ABC Radio will strategically join forces in special cases.
Sean Hannity commented, "I have a passion and a love for radio and I deeply want to thank all of my listeners and my radio partners around the country. From the very first day, 21 years ago when that red 'on-air' light went on, I have always felt I was one of the luckiest people on earth. If anybody told me back in 1987 when I began my radio journey, that I would be in this historic partnership with the two best syndication companies in radio, I would never have believed them. This deal for me is truly a dream come true, and for that I am extremely grateful to all who have made this possible."
Under the new agreement, the show will continue to air on major market Citadel News/Talk stations.
July 21, 2008 -- XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) announced preliminary results for the second quarter of 2008. XM added 322,000 new net subscribers in the second quarter of 2008 for a total of 9,653,000, a 17 percent increase since the end of the second quarter of 2007. Total gross additions for the quarter were 1,081,000, including a record 857,000 OEM gross additions, the fifth consecutive quarter of record OEM gross additions, and 224,000 retail gross additions.
Second quarter 2008 churn improved to 1.67 percent, compared to both second quarter 2007 churn of 1.84 percent and to first quarter 2008 churn of 1.77 percent. XM also announced that subscription revenue for second quarter 2008 is expected to be in the range of $283 million to $288 million and that the second quarter 2008 adjusted operating loss is expected to be between $32 million to $38 million (excluding the impact of any FCC settlement). Conversion rate for promotional subscribers is expected to be in the range of 52.7 percent to 53.4 percent.
XM announced its preliminary results in connection with XM and Sirius's merger-related offering of senior notes, announced separately today. XM's independent accountants have not completed their review of the second quarter financial information and XM is still in the process of completing its normal quarter-end closing process. Accordingly, actual results may vary from the above amounts and such variance could be material. The company expects to file its 10-Q report for the second quarter 2008 in the next few days.
Market Wrap for July 21, 2008 - The stock market posted a slight loss near the unchanged mark on Monday.
Bank of America (BAC 28.52, +1.03) reported a 43% drop in earnings per share to $0.72. BofA's CEO plans to recommend that the board leave the quarterly dividend at $0.64 per share (9.0% annual yield at current levels).
The financial sector climbed 2.8% shortly after the opening bell, but settled with a loss of 0.9% following some profit-taking efforts after last week's 11.4% surge.
In corporate news, pharmaceutical companies Merck (MRK 35.39, -2.29) and Schering-Plough (SGP 18.99, -2.45) tumbled 6.1% and 11% respectively, due to continued concerns over the cholesterol drug Vytorin.
European pharmaceutical company Roche Holdings offered to acquire the remainder of Genentech (DNA 93.69, +11.87) for $43.7 billion, or $89 per share in cash. Roche.
Yahoo! (YHOO 21.68, -0.77) and activist investor Carl Icahn have reached an agreement regarding their pending proxy contest.
Three of the ten sector posted a gain. Energy stocks (+2.9%) led the way as crude prices climbed 2.1% to $131.56.
Consumer discretionary (-1.3%), health care (-1.2%), and financials (-0.9%) were the main laggards.
On the economic front, June leading indicators fell 0.1%, which is in-line with expectations. For the most part, the report is a collection of previously announced economic indicators, and as a result it had a limited impact on the stock market. DJ30 -29.23 NASDAQ -3.25 NQ100 -0.2% R2K +0.7% SP400 +0.7% SP500 -0.68 NASDAQ Adv/Vol/Dec 1579/1.84 bln/1238 NYSE Adv/Vol/Dec 2034/1.20 bln/1115
ABOUT INVESTSOURCE, INC.: WIN an 8 day 7 nights Caribbean Getaway, GO TO: www.investsourceinc.com.
Coming in late Summer of this year: Go Baby GO!!! The first book of its kind on the OTCBB and Pink Sheet Markets www.gobabygobook.com .
To hear "The Fastest 60 Seconds in the Small-Cap Market," please go to www.ceo-corner.com
InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market InvestSource has received 5 million shares of Greenstone Holdings for services rendered. Please consult your broker before purchasing or selling any securities mentioned herein. To view full disclaimers, please go to http://investsourceinc.com/php/disclaimer.php (disclaimers).
This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The information contained in an InvestSource profile is provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. InvestSource has agreed to be compensated 16,800 of unrestricted stock of SAPXF for services rendered.
CONTACT: InvestSource, Inc WWW: http://www.investsourceinc.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
