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September 2, 2008 - SpongeTech Delivery Systems, Inc. (OTC Bulletin Board: SPNG | Quote | Chart | News | PowerRating) is pleased to announce that its CEO and President, Michael Metter, will be interviewed today on Steve Crowley's American Scene Radio Show at 11:34 a.m. EDT. The interview can be heard live on BusinessTalkRadioNetwork affiliate radio stations streamed on its website, www.businesstalkradio.net. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech 's products and developments.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetech.com.
September 2, 2008 - In its ongoing efforts to continue development of the company's breakthrough ballast technology, PureSpectrum, Inc. (Other OTC:PSPM.PK) has begun testing the viability of its innovative ballast design for use with Light Emitting Diode (LED) applications.
PureSpectrum has already engineered and introduced breakthrough ballast technology for fluorescent lighting, and during the past several months the company has transitioned from research and development into implementation and is engaged in licensing discussions with multiple manufacturers. However, PureSpectrum president and CEO Lee Vanatta said that PureSpectrum's core business will remain technology and now the company has begun adapting its base technology to be compatible with LED lighting systems.
The ultra-efficient solid state lighting products have garnered heavy attention and some market traction during the past two years and are considered by some industry analysts to be the long term future of both commercial and residential lighting.
PureSpectrum's unprecedented ballast design is separated from commercially available electronic ballasts by its unique circuitry which is constructed to achieve high Power Factor and optimum efficiency without the addition of extra circuits. The cost effective PureSpectrum ballast topology attains ultimate efficiency by maximizing productive energy usage and minimizing components.
September 2, 2008 - Fuwei Films (Holdings) Co. Limited (Nasdaq: FFHL; "Fuwei" or "the Company"), a manufacturer and distributor of high-quality BOPET plastic films located in China, today announced that the Korean Trade Commission ("KTC") made the final determination of the anti-dumping investigation of BOPET films originated in China and India on August 27, 2008 and decided to recommend the Ministry of Strategy and Finance ("MOSF") to levy the anti-dumping duty ("ADD") on such imports for five years.
The final determination of the ADD rate for Fuwei is 5.67%, versus 6.13% in the preliminary determination. The ADD rate for other Chinese companies is 23.6% except two which enjoy the ADD rate of 8.93% and 15.95% respectively. The ADD rate for one Indian company is 10.4% and for other Indian companies is 25.32%.
KTC began its anti-dumping investigation of BOPET film exporters in China and India in November 2007.
"Today's ADD rate result from South Korea means Fuwei now enjoys a competitive advantage in exports," said Mr. Xiaoan He, Chairman and CEO of Fuwei. "We first entered the South Korean market in 2005 and since then we have been focusing on delivering higher-valued specialty film products, which we believe is the main reason why our products are assessed a lower ADD rate in this case. We expect to use this competitive advantage to further penetrate the South Korean market."
The ADD rates are expected to become effective sometime in October 2008 when MOSF makes a formal announcement.
September 2, 2008 - Revlon, Inc. (NYSE: REV | Quote | Chart | News | PowerRating) announced that David Kennedy, President and Chief Executive Officer and Alan Ennis, Executive Vice President and Chief Financial Officer will present publicly available information regarding the Company's financial results and strategy at the Lehman Brothers Back-to-School Consumer Conference at 3:00 p.m. E.D.T. on Thursday, September 4, 2008.
A live audio webcast of the Company's presentation, together with accompanying slides, will be available at the Corporate Investor Relations section of Revlon's website at www.revloninc.com. An archive of the webcast will be available at www.revloninc.com from Thursday September 4, 2008 through Thursday, September 18, 2008.
Market Wrap for September 2, 2008 - Tuesday was a disappointing session for stock market bulls.
Shortly after the opening bell, the Dow, Nasdaq and S&P 500 rallied 2.1%, 1.9% and 1.6%, respectively, benefiting from a sharp sell-off in commodities and a relief trade after Hurricane Gustav did not cause any major structural damage. But stocks steadily declined throughout the afternoon, with the Dow, Nasdaq and S&P 500 finishing the day with a loss of 0.2%, 0.8% and 0.4%, respectively.
With regard to commodities, the CRB Index fell 3.4% after the damage caused by Hurricane Gustav was less than expected. Crude prices were down 8.7% in overnight trading, but recovered some losses to finish with a decline of 4.5% at $110.30 per barrel.
The energy sector declined 4.6% and the materials sector fell 2.5%.
The consumer discretionary sector rose 1.8%, with retailers climbing 3.0%. Airlines advanced 6.6% and automakers gained 3.1%.
The financial sector outperformed with a 1.8% gain.
In other corporate news, Merck (MRK 34.83, -0.84) and Schering-Plough (SGP 19.08, -0.32) came under selling pressure due to uncertainty regarding cancer risks of the cholesterol drug Vytorin. The healthcare sector still managed to gain 0.1%.
In economic news, the August ISM Index, a national manufacturing survey, indicated a very slight contraction in the manufacturing sector, although it is still indicative of growth in the overall economy.
Housing remains the weakest area in the economy. DJ30 -26.63 NASDAQ -18.28 NQ100 -1.2% R2K -0.1% SP400 -1.0% SP500 -5.25 NASDAQ Adv/Vol/Dec 1367/1.95 bln/1510 NYSE Adv/Vol/Dec 1521/967 mln/1450
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