Wall Street News Alert's "stocks to watch" this morning are: Unicorp Inc. (OTCBB: UCPI), Nexen Inc. (NYSE: NXY), SanDisk® Corporation (NASDAQ: SNDK) and F5 Networks, Inc. (NASDAQ: FFIV).
Unicorp Inc., (OTCBB: UCPI) continues its aggressive plans for 2007 and has issued additional news that should appeal to aggressive investors this morning! Yesterday after the markets closed, the company (engaged in the acquisition, development, exploration and production of crude oil and natural gas) issued a press release announcing that it has retained an investment banking firm on a non-exclusive basis to assist with its 2007 acquisition strategy. The company has already been introduced to a financing partner and is currently evaluating several potential acquisitions of producing properties.
"We are continuing to focus on exploration but believe that a successful acquisition program will accelerate the already rapid growth of our company," stated Art Ley, COO of Unicorp. "We believe that the addition of an acquisition strategy is very important to our company and hope to close the first acquisition in this current fiscal quarter."
As we reported last week, Unicorp began 2007 firing on all cylinders and announcing that operations have begun to drill its St. Martinville Prospect located in St. Martin Parish, Louisiana. Total reserves are estimated to be 1,000,000 barrels of oil and Unicorp will have an 18.5% net revenue interest.
Late last year, Unicorp kept investors interest by making numerous announcements showing that the company was moving forward at a rapid pace. Amongst the news released was the announcement that the company expects to triple its gross profit in fiscal 2007 and to be profitable from operations during the first quarter of 2007, excluding non-cash charges. There were also multiple announcements concerning the company's drilling prospects, including the news that the Lee Walley Estate Well #1, in Greene County Mississippi, is producing at an average rate of 110 barrels of oil per day.
The company stated in a previous press release, "2006 has been a record year where we believe we have laid a solid foundation to build on as we move into 2007. 2007 is also expected to be another record year of growth and we are very excited about the opportunities that we currently have and expect them to contribute significantly in the coming year."
Wall Street News Alert is continuing to alert investors to monitor the progress of Unicorp as the company builds momentum in 2007!
Before the news hit the wires, Unicorp's stock closed yesterday at Thirty-Eight cents a share.
For an in-depth, updated profile of Unicorp, visit: http://www.thenewssvc.com/UCPI010807.html
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In case you are not familiar with the company: Unicorp, Inc is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus is on aggressively acquiring working interests in crude oil and natural gas properties with the intent of exploration and development or by enhancing production through the use of modern development techniques such as horizontal drilling, satellite technology and 3-D seismic. The company's goal is to achieve a high return on its investment by limiting its up-front acquisition costs, by quickly developing its acquisitions and by practicing a sound and smart approach to oil and gas exploration and development.
Nexen Inc. (NYSE: NXY) up 3.3% on 974,000 shares traded. Nexen Inc. is an independent, Canadian-based global energy company, listed on the Toronto and New York stock exchanges under the symbol NXY.
SanDisk® Corporation (NASDAQ: SNDK) up 2.3% on 13.6 million shares traded. SanDisk is one of the original inventors of flash storage cards and is one of the world's largest suppliers of flash data storage card products, using its patented, high-density flash memory and controller technology.
F5 Networks, Inc. (NASDAQ: FFIV) up 4.7% on 1.6 million shares traded. F5 Networks one of the global leaders in Application Delivery Networking.
Market Commentary:
"Markets were in the 'red' mode on the first full week of trading for 2007 as merger news, like GE's $1.9 billion acquisition of Vetgo Gray, an oil and gas services company, failed to lift the indexes. This week starts the beginning of the 4th quarter earnings season, and some analysts are skeptical and say markets are uneasy," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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