InvestSource, Inc.: Stockhouse Announces Webcast and Conference Call

Jul 29, 2008 (M2 PRESSWIRE via COMTEX) -- STKH | Quote | Chart | News | PowerRating -- Stocks in the News: Stockhouse Inc. (OTC BB: STKH), The Blackstone Group (NYSE: BX), NYSE Euronext (NYSE: NXT), General Finance Corporation (AMEX: GFN)

Jul 28, 2008 -- Stockhouse Inc. (OTC BB:STKH) announced today that the Company expects to release its first quarter 2008 financial results on Wednesday, August 13, 2008.

A conference call and webcast will be held on Wednesday, August 13, 2008 at 4:10PM EDT / 1:10PM PDT to discuss the second quarter results. To participate in the conference call, please call 1-866-400-3310 five to ten minutes prior to the start time. To listen to the live webcast, please go to www.stockgroup.com. The earnings call will be recorded and accessible on the website for a period of one month. Participants intending to access the webcast should have Windows Media Player installed prior to connecting to the call.

Jul 28, 2008 -- Blackstone Capital Partners, an affiliate of The Blackstone Group (NYSE: BX | Quote | Chart | News | PowerRating) has entered into a definitive agreement to buy a minority interest in the company Bayview Asset Management, LLC, a subsidiary of Bayview Financial, L.P. The investment from Blackstone will help Bayview continue to grow its business in the secondary mortgage acquisition and mortgage securities markets. Bayview currently manages a $2 billion fund that focuses on the acquisition of whole mortgage loans and mortgage backed securities. Among Bayview's clients are some of the largest institutional investors in the world including leading corporate and public pension funds. It is currently the fourth largest fund of its kind with specific focus in this sector. Bayview has been active in the secondary mortgage market since 1995 and has closed loan purchase transactions with over 2,000 counterparties. David Ertel, Chief Executive Officer of Bayview, said, "With this investment from Blackstone, I am confident that Bayview is well positioned to take advantage of the significant dislocation in the secondary mortgage market. Our 15-year history of transacting in this market, captive servicing capability, and substantial capital base should make us a unique solution provider for financial institutions and other counterparties with residential and commercial mortgage exposure. We built Bayview Loan Servicing 10 years ago because we believed that no servicer at that time approached borrowers with our philosophy of pursuing solutions to their problems and ensuring staffing levels that allow interaction with borrowers on a timely and individual basis. We believe, that particularly in this market, our approach to servicing will be even more value-added and appropriate."

Jul 28, 2008 - NYSE Euronext (NYSE: NXT) has entered into an agreement with Pragma Financial Systems, LLC, a New York-based quantitative financial technology provider, so that Pragma can provide algorithmic trading tools to New York Stock Exchange floor brokers. With TradeEngine , Pragma's industry leading high-frequency trading platform, the NYSE community will for the first time have algorithmic execution tools available on the trading floor. This partnership is the latest in a series of moves by NYSE Euronext to provide the floor community with state-of-the-art technology to better compete in an increasingly electronic national markets system. By taking this step, NYSE Euronext ensures that its distinctive hybrid market model will continue to support a robust floor presence. "We are happy to have the opportunity to partner with the NYSE, and to provide its floor brokers with execution algorithms," said David Mechner, President at Pragma Financial Systems. "We worked closely with NYSE to customize our platform to meet the needs of the floor broker community, and I think we've succeeded in developing a unique offering that will provide tremendous value for its users." The new algorithmic strategies are customizable and will trade on parity, providing brokers with the ability to match on every trade. The NYSE will gradually roll out the new algorithms during the next several weeks. "NYSE floor brokers continue to be an important resource for their customers," said Michael Rutigliano, Vice President and Broker Liaison at the NYSE. "These new tools will enable brokers to seamlessly blend from their hand-held devices, the high-tech functionality of speed, automation and anonymity, with the high-touch benefits of discovery, price improvement and accessing block-sized liquidity."

Jul 28, 2008 -- General Finance Corporation (AMEX: GFN | Quote | Chart | News | PowerRating) which owns Royal Wolf Trading Australia Pty Limited, the leading provider of portable storage solutions in Australia and New Zealand, and Mobile Office Acquisition Corp. and its subsidiary, Pac-Van, Inc., a provider of modular buildings and mobile offices in the United States, today announced that they have entered into a definitive merger agreement in a transaction valued at $158.8 million. Pac-Van, Inc. is headquartered in Indianapolis, Indiana and operates 26 branch locations in 17 states in the United States with more than 7,000 customers. Since 2003 through June 30, 2008, Pac-Van has achieved a 25.9% CAGR in adjusted earnings before interest, income taxes, depreciation and amortization and other non-operating costs. The transaction will establish General Finance as a key player and provider of modular units and portable storage solutions in North America and the Asia-Pacific area with estimated combined annual revenues of approximately $195 - $210 million. General Finance's Chairman, Lawrence P. Glascott, stated: "We are delighted to be merging with a widely recognized North American mobile office and modular solutions provider with a national platform. There are many strategic benefits of this transaction as we now own portable solutions companies in the North America and Asia-Pacific markets. The transaction will diversify our business across several geographic markets, add a high quality management team and provide improved access to the capital markets, which should in turn create enhanced shareholder value. We are optimistic about the acquisition, as we expect it to be accretive to fiscal 2009 earnings and contribute to our financial growth." Ted Mourouzis, COO or President of Pac-Van since 1999, and Pac-Van's entire senior management team consisting of six executives with an average length of employment with Pac-Van of ten years will continue after the acquisition. Ted and his team will convert a significant amount of their MOAC equity into General Finance stock. Mr. Mourouzis commented, "We are excited by the expanded opportunities for our employees that will result from joining the General Finance team."

Market Wrap for July 28, 2008

Monday was not a good session for stock market bulls. Stocks tumbled 1.9%, settling at session lows, after the financial sector was unable to hold onto its opening gains, prompting a broad-based sell off. A 1.2% rise in oil prices compounded selling interest.

All ten of the economic sectors posted a loss on relatively light trading volume.

The financial sector got off to a good start, rising 1.6%, even though news ahead of the opening bell was somewhat negative. Over the weekend, the FDIC shut down two undercapitalized regional banks -- First National Bank of Nevada and First Heritage Bank -- marking the sixth and seventh failures this year. The banks' deposits were taken over by Mutual of Omaha. The closures did not come as a complete shock, as it is widely expected that more regional banks will fail, although the news certainly did not help bring buyers to the table. The financial sector quickly reversed course as a sharp drop in shares of Merrill Lynch (MER 24.21, -3.31) sent the sector tumbling. There was no specific news item to account for the 12% drop in MER, although there were heightened concerns due to some increased options buying. In late afternoon, Treasury Secretary Paulson and four of the U.S. largest banks announced support for covered bonds as an instrument to improve mortgage financing oportunities. Covered bonds are similar to traditional asset-backed securities, but would remain on the issuers' balance sheet. The announcement did little to please investors, with the financial sector ending the session down 4.5%. The sector is down 11.5% in the last three sessions, but is still up 18.5% from its July 15 52-week low. The consumer discretionary sector fell 2.5%, as the 1.2% rise in crude oil prices weighed on oil-sensitive names. Oil advanced on reports of unrest in Nigeria. Conversely, the energy sector outperformed on a relative basis with a 0.5% loss, although the sector fell from a gain of 1.6% as the broader market slipped.

As stocks struggled, Treasuries rallied. The 10-year note rose 21 ticks, sending its yield to 4.0%.

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