Stocks to Watch for Tuesday, August 4, 2009: MNGA -- MagneGas Receives Its Most Significant Independent Media Attention to Date
04 August 2009 - 11:05PM
Marketwired
Market Pulse is pleased to introduce our featured stock, MagneGas
Corporation (OTCBB: MNGA), to the investment community! MagneGas
Corporation is new to Market Pulse and is poised to become a
significant player in the $680 million metal cutting market!
MagneGas Corporation just had excellent news out in a press release
before today's opening bell announcing that it has received its
most significant independent media attention to date in the form of
a feature article in Welding Journal -- perhaps the metal working
industry's most respected publication and one with more than 55,000
loyal subscribers! This could be great news for investors! Other
notable stocks that should be closely watched due to existing
fundamental and technical factors affecting each company include:
Oncothyreon Inc. (NASDAQ: ONTY) : Market Outperform
Kodiak Energy Inc. (OTCBB: KDKN) : Attractive
Brocade Communications Systems Inc. (NASDAQ: BRCD) : Market
Outperform
Stock Pick Meanings
These stock picks are the investment opinions of MP's editor and
reflect MP's belief regarding the potential price movement over the
next one to four weeks of trading of each of the stocks presented.
This analysis is done from a technical and fundamental
perspective.
After Monday's Bell Market Commentary
On Monday, a slower than expected contraction of the nation's
manufacturing activity sent the markets soaring to a sharply higher
close. A report from the Institute for Supply Management, a trade
group of purchasing executives, signaled U.S. manufacturing
activity should increase next month for the first time since
January 2008 The Commerce Department said construction spending
rose rather than fell in June as analysts had expected. The dollar
fell to its lowest points since last fall against the euro, pound
and other currencies. The yield on the 10-year Treasury note surged
to 3.64 percent from 3.48 percent. Light, sweet crude soared $2.13
to settle at $71.58 a barrel. News that manufacturing in China and
Europe is expanding pushed commodity prices higher. The Dow rose
for the third day, advancing 114.95, or 1.3 percent, to close at
9,286.56. The Nasdaq composite index rose 30.11, or 1.5 percent, to
close at 2,008.61, its first close above 2,000 since October. The
S&P 500 index rose 15.15, or 1.5 percent, to close at 1,002.63,
its first move above 1,000 since Nov. 4. The Russell 2000 index
rose 9.07, or 1.6 percent, to close at 565.78.
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MagneGas Corporation. In addition, MP was also compensated four
hundred thousand restricted shares of MagneGas Corporation by the
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