Wall Street News Alert's "stocks to watch" this morning are: GeoBio
Energy, Inc. (PINKSHEETS: GBOE), Generex Biotechnology Corporation
(NASDAQ: GNBT), The Shaw Group Inc. (NYSE: SGR) and Sinovac Biotech
Ltd. (AMEX: SVA).
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There is important news coming from GeoBio Energy, Inc., d/b/a
Plastics Conversion Technologies, Inc., (PCT) (PINKSHEETS: GBOE).
Yesterday after the markets closed, the company, a Washington based
plastics cleaning, separation, and recycling company, issued a
press release announcing a strategic agreement with Central
Manufacturing, Inc. of Groveland Ill.
Under terms of this alliance, Central will provide the design,
manufacture, and testing of several high-volume scrap separation
processing units for use in PCT's soon-to-be constructed first
operating facility.
In addition to the contract for production of this equipment,
Central has granted PCT certain intellectual property (IP) rights
in the designs contemplated, as well as certain discounts to the
manufacturing prices, and the parties intend that these assets will
be valued and exchanged for stock in PCT.
"We see tremendous opportunity in working with PCT and its
founder Gary De Laurentiis, and are excited about the company's
proprietary cleaning and separation processes," said Central CEO
Mike McLemore. "And, we want to be a long-term participant in their
growth and success. The best way for us to do that was to be true
partners with them from the outset, and thus we've come to this
agreement today."
The initial project will be comprised of a feed flow regulator,
rotary (trommel) screen, foam separator(s), light/heavies
separator(s), grinders and various transfer conveyors, representing
a total financial requirement of approximately $2,000,000.
Once commenced, production time for these units will be about 24
weeks. Units will be built and tested at Central's Groveland
facility, then shipped for installation to PCT's first plant,
currently projected to be in Oregon or Wisconsin. Combining the
purchase of the equipment and the development of the plant, the
total financial outlay and asset value is expected to be
$13,000,000.
Said Mr. De Laurentiis: "Working with Central and Mike in the
past has convinced me that they are among the best at what they do.
They design and build solid units at realistic costs, and have a
history of delivering on time and on budget. Mike and his team are
the perfect partners for Plastics Conversion Tech, and I'm
extremely gratified by their commitment to this new endeavor."
The stock closed yesterday at under a Penny a share.
Generex Biotechnology Corporation (NASDAQ: GNBT) down 6.5% on
29.8 million shares traded. Generex is engaged in the research,
development and commercialization of drug delivery systems and
technologies.
The Shaw Group Inc. (NYSE: SGR) up 5.4% on 4.2 million shares
traded. The Shaw Group Inc. is a leading global provider of
technology, engineering, procurement, construction, maintenance,
fabrication, manufacturing, consulting, remediation and facilities
management services for government and private sector clients in
the energy, chemicals, environmental, infrastructure and emergency
response markets.
Sinovac Biotech Ltd. (AMEX: SVA) down 1.8% on 878,000 shares
traded. Sinovac Biotech Ltd. is a China-based biopharmaceutical
company that focuses on the research, development, manufacture and
commercialization of vaccines that protect against human infectious
diseases.
Market Commentary:
Investors received a bit of good news when the New York-based
Conference Board said Tuesday that its Consumer Confidence Index
rose more than 12 points to 39.2, up from a revised 26.9 in March.
The reading marks the highest level since November's 44.7 and well
surpasses economists' expectations for 29.5.
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