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InvestSource, Inc.: Riverdale Capital in Acquisition Mode

Posted on: Tue, 24 Nov 2009 05:43:00 EST

Symbols: MRK, KMP, BRCD, BRCDD, HNT, RICP

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Nov 24, 2009 (M2 PRESSWIRE via COMTEX) --
RICP | Quote | Chart | News | PowerRating -- InvestSource: Your source for microcap information. Sign up for our RSS feeds and alerts on all your microcap stocks at www.InvestSourceInc.com.

Company News: 23-11-09: Riverdale Capital Ltd. (OTC: RICP | Quote | Chart | News | PowerRating) announced recently that it has completed in full the acquisitions of Internet Properties Group, Inc. ("IPG") and Enterprise Domains Inc. ("EDI") both based in Los Angeles, California. Both companies are now wholly owned subsidiaries of Riverdale Capital Ltd. Enterprise Domains Inc. is a company specializing in the purchase, holding, and selling of valuable domain name intellectual property in a quickly shrinking market of available space. EDI uses its own state of the art technology to capitalize on this shrinking availability of domain name intellectual property while maximizing its return on investment by utilizing media syndication, internet marketing, and technology leasing opportunities. Riverdale Capital Ltd. Also added the Company will continue to create, acquire and develop revenue generating web based services and intellectual properties in yesterday's press release.

Company News: 23-11-09: Brocade Communications Systems (Nasdaq: BRCD | Quote | Chart | News | PowerRating) reported financial results for its fourth fiscal quarter and full fiscal year ended October 31, 2009. Brocade's quarterly revenues increased 31 percent year-over-year to $521.8 million and annual revenues increased 33 percent year-over-year to over $1.95 billion.

Financial Highlights and Additional Financial Information for Brocade

* Fiscal year 2009 revenue was $1,952.9 million, increasing 33% over fiscal year 2008.

* Q4 revenue was $521.8 million, increasing 31% year-over-year and 6% sequentially.

* Q4 total Storage Area Networking (SAN) port shipments were approximately 1.0 million.

* Q4 SAN Average Selling Price (ASP) declines were in the low single digits.

* Q4 effective GAAP tax rate was (24.9)%; non-GAAP effective tax-rate was 25.3%.

* Q4 Adjusted EBITDA was $130.6 million, increasing from $119.3 million in Q3.

* Q4 non-GAAP operating margin was 22.7%, increasing from 20.3% in Q3.

Company News: 23-11-09: Merck & Company Inc. (NYSE: MRK | Quote | Chart | News | PowerRating) said yesterday that U.S. District Court Judge John F. Keenan granted summary judgment in Merck's favor in Flemings v. Merck. Flemings is the second of three cases involving FOSAMAX (alendronate sodium) designated by the federal MDL court as a bellwether trial case. In granting summary judgment in Flemings and dismissing all of the plaintiff's claims, Judge Keenan ruled that the physician relied upon by Ms. Flemings (Dr. Rose) was unqualified to render an opinion and that Ms. Flemings failed to present sufficient evidence to support her contention that FOSAMAX caused her to sustain osteonecrosis of the jaw (ONJ). Merck is represented in the Flemings case by Venable LLP and Hughes Hubbard & Reed LLP. "We are pleased that the Court agreed with us that Ms. Flemings did not present any reliable evidence supporting her claim that FOSAMAX caused her to suffer ONJ," said Paul Strain of Venable LLP, outside counsel for Merck. "Unfortunately, Ms. Flemings had medical problems that cause people to develop jaw problems regardless of whether they were taking FOSAMAX."

Company News: 23-11-09: Health Net Inc. (NYSE: HNT | Quote | Chart | News | PowerRating) announced that it is rescheduling its annual Investor Day from December 11, 2009, to February 11, 2010. The company expects to issue its 2010 earnings guidance on December 11, 2009. "In light of the recent decision by the General Accountability Office regarding the company's TRICARE protest, the pending close of the sale of our Northeast businesses, and the ongoing debate regarding health care reform, we believe more information will be available in early 2010," said Jay Gellert, Health Net's chief executive officer. Health Net's management team will host its Investor Day at the Millennium Broadway Hotel in New York City on February 11, 2010.

Company News: 23-11-09: Kinder Morgan Energy Partners, L.P. (NYSE: KMP | Quote | Chart | News | PowerRating) announced its preliminary projections for next year, stating that it expects KMP to declare cash distributions of $4.40 per unit for 2010, a 4.8 percent increase over its 2009 budget target of $4.20 per unit. The company also reiterated it remains confident that it will achieve its 2009 targeted distribution per unit, which represents a 4.5 percent increase over 2008. KMP's expectations assume an average West Texas Intermediate (WTI) crude oil price of approximately $84 per barrel in 2010, which approximates the current forward curve for next year. The overwhelming majority of cash generated by KMP's assets is fee based and is not sensitive to commodity prices. In its CO2 segment, the company hedges the majority of its oil production but does have exposure to unhedged volumes, a significant portion of which are natural gas liquids. For 2010, every $1 change in the average WTI crude oil price per barrel is expected to impact the CO2 segment by approximately $6 million (or less than 0.2 percent of our combined business segments' anticipated segment earnings before DD&A).

ABOUT INVESTSOURCE, INC.:

For RSS Feeds, Alerts via phone and other methods for your favorite companies, sign up at www.investsourceinc.com today.

InvestSource, Inc. is a multimedia relations/public relations firm that specializes in bringing small- and micro-cap public and private companies to the attention of the general public. InvestSource believes that there are hosts of undervalued companies that don't get the exposure they deserve, because of their size, and have been overlooked by the larger marketing companies. Many of them have solid business plans, work in potentially highly lucrative niche markets, and have superb growth potential. It is the mission of ISI to empower these companies to reap fully all of the benefits of public exposure.

This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or a solicitation to buy or sell securities. InvestSource, Inc. has prepared all material herein based upon information believed to be reliable. The information contained herein is not guaranteed by InvestSource, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this release have not given an opinion or approved the statements made in this release. InvestSource has been compensated fifty thousand unrestricted shares of Riverdale Capital LTD from a third party for services rendered. To view full disclaimers, please go to http://investsourceinc.com/content/disclaimer

CONTACT: InvestSource, Inc
WWW: http://investsourceinc.com

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For full details on Merck & Co (MRK) MRK. Merck & Co (MRK) has Short Term PowerRatings at TradingMarkets. Details on Merck & Co (MRK) Short Term PowerRatings is available at This Link.

For full details on Kinder Morgan Energy Partners LP (KMP) KMP. Kinder Morgan Energy Partners LP (KMP) has Short Term PowerRatings at TradingMarkets. Details on Kinder Morgan Energy Partners LP (KMP) Short Term PowerRatings is available at This Link.

For full details on Brocade Communications (BRCD) BRCD. Brocade Communications (BRCD) has Short Term PowerRatings at TradingMarkets. Details on Brocade Communications (BRCD) Short Term PowerRatings is available at This Link.

For full details on (BRCDD) BRCDD. (BRCDD) has Short Term PowerRatings at TradingMarkets. Details on (BRCDD) Short Term PowerRatings is available at This Link.

For full details on Healthnet Inc (HNT) HNT. Healthnet Inc (HNT) has Short Term PowerRatings at TradingMarkets. Details on Healthnet Inc (HNT) Short Term PowerRatings is available at This Link.

For full details on (RICP) RICP. (RICP) has Short Term PowerRatings at TradingMarkets. Details on (RICP) Short Term PowerRatings is available at This Link.

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