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Aug 06, 2008 -- NutriPure Beverages, Inc. (Pink Sheets: NUBV | Quote | Chart | News | PowerRating) announced today that despite rumors to the contrary, NutriPure has not filed for a reverse stock split and has no immediate plans to do so. NutriPure Chairman and CEO Kenyatto Jones commented as follows: "It has come to our attention that rumors are circulating on Internet chat boards that NutriPure has filed for a reverse split of its common shares. In fact, no such filing has been made, nor is that issue under discussion or being contemplated at this time. These rumors have most likely come about as a result of the large increase in the company's trading volume over the past week or so. We will always make decisions based on what we feel is in the best interest of the company and its shareholders. Our next Board meeting is scheduled for mid-September and at that time our Board will decide what further action, if any, should be taken in this matter. Meanwhile, we are very pleased with the recent activity and liquidity of our stock, and are very busy with our activities regarding XND Technologies, Inc. and Moneymaker 1 LLC. We expect to be releasing additional information about these ventures over the next few days."
Aug 06, 2008 -- Nutritional Specialties, Inc. LifeTime announced that its Life's Basics Plant Protein is now available in Sprouts Farmers Market. LifeTime is a wholly-owned subsidiary of Baywood International, Inc (OTCBB: BAYW). "Sprouts is a valuable retail partner for LifeTime. As we continue to grow our brand in the burgeoning chain of natural food markets, we have enjoyed every step of our relationship,'' stated Tom Pinkowski, President of LifeTime. ''Furthermore, consumers are drawn to the unique formula and terrific taste our new Life's Basics Plant Protein, and we look forward to supporting Sprouts in the roll-out and success of this item.'' Life's Basics(r) Plant Protein contains a unique complete, vegetarian protein profile including Pea Protein Isolate, Rice Protein Concentrate, Organic Manitoba Harvest Hemp Protein and Chia Powder. The product comes in delicious vanilla flavor and can be mixed with cold water without affecting its creamy taste. "We look forward to continuing our growth with LifeTime in building this brand further in our market. The existing foundation that has been built with this brand will help this new and unique Life's Basics Plant Protein gain the broad acceptance that it deserves within our retail stores,'' stated Tom Fitzgerald, Vitamin/Supplement Buyer and Category Manger for Sprouts.
Aug 06, 2008 -- Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), has chosen the Knoxville-Oak Ridge Innovation Valley of East Tennessee as the future home of its new $10.4 million, 334,000 square foot manufacturing and distribution facility. The new site will support the brand's national expansion and continued growth in the single-cup coffee business. The Innovation Valley site is the latest in a series of expansions for Green Mountain Coffee, which maintains its headquarters in Waterbury, Vermont. The Tennessee facility will focus primarily on the production of K-Cup portion packs for the Keurig single-cup coffee brewing system and will expand to other packaging formats as needed. Green Mountain CEO Scott McCreary said the Innovation Valley's central location allows the company to reduce distribution costs, shorten delivery lead times, and serve a broader geographic region. Mike Edwards, Knoxville Chamber's President and CEO called Green Mountain Coffee "a high-growth company with a strong passion for the environment and its employees and suppliers, and a leader in the arena of corporate social responsibility. Green Mountain Coffee is going to be a tremendous addition to the Innovation Valley."
Aug 06, 2008 -- The chief executive officer and finance chief of Jamba, Inc. (NASDAQ: JMBA | Quote | Chart | News | PowerRating) resigned on Wednesday, moves that follow recent store closures at the fruit smoothie chain operator and a steep drop in the company's stock. The Emeryville-based chain of more than 700 stores said Paul Clayton resigned his posts as CEO and president as well as his board position, and Donald Breen resigned as CFO "to pursue another opportunity" that the company didn't specify. Jamba Chairman Steven Berrard will assume the role of interim CEO and president, while Karen Luey, the company's vice president, controller and principal accounting officer, will serve as interim CFO, with transition assistance from Breen. The company said the changes are effective immediately. Berrard said he agreed to assume his two interim executive roles "at the request of the board of directors, who determined that, in consideration of my knowledge of the company and business background with other consumer turnaround situations, that I would be the most appropriate person to lead the company on an interim basis, given the challenging environment the company faces." Berrard led the company's acquisition of Jamba Juice Co. in 2006, and served as CEO before the acquisition.
Market Wrap for August 6th, 2008
The S&P 500 eked out a slight gain on Wednesday. Still, stock market bulls are pleased with the end result, considering the market was able to climb out of negative territory, and the gain comes after the previous session's rally of nearly 3%. A strong showing by large-cap tech helped offset negative news out of the financial sector. Crude prices dropped for the third consecutive session, which also helped bring buyers to the table.
The S&P 500 settled with a gain of 0.3% after being down as much as 0.7%. Six of the ten economic sectors advanced. The Nasdaq Composite handily outperformed with a gain of 1.2%, partially due to better-than-expected earnings from a network and communication device giant. With regard to crude oil, prices fell 0.7% to $118.37 per barrel after traders digested the government's weekly energy inventory data that painted a picture of mixed demand. Crude stockpiles unexpectedly rose, although gasoline inventory levels dropped by a large amount. After some volatile action, oil prices dropped from a gain of 1.1%, which coincided with the stock market's recovery from its session low. Crude prices are down 5.4% this week. The tech sector was the leader behind the market's recovery, ending the day with a gain of 1.3%. Cisco (CSCO 23.96, +1.31) reported second quarter earnings that modestly topped expectations on the top and bottom line. The company issued revenue guidance for the next two quarters that was slightly below consensus, but reiterated its long-term growth rate guidance of 12% to 17%. Microsoft (MSFT 27.01, +0.80) also provided leadership, with shares rising 3% after a UBS analyst said Microsoft will buy back as much as $20 billion shares, according to Bloomberg.com. Strikingly, the energy sector (+1.9%) posted the largest advance this session, despite the drop in crude prices. The financial sector (-1.0%) settled well above its session low when it was down 2.4%, but still acted as a drag on the broader market. The telecom sector (-1.4%) posted the largest decline.
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