SAN FRANCISCO, July 18, 2006 (PRIMEZONE) -- California News Tech (OTCBB:CNTE), a leading technology company, today announced the results for the sentiment measurements of the first two weeks of July. From a total of 14 companies reporting earnings between July 1, 2006 and July 14, 2006, MediaSentiment's(tm) analysis provided a positive sentiment for 86% and a negative sentiment for 14%.
A correlation was established between the closing price of the MediaSentiment(tm) HeadsUp(r) analyzed stock on the trading day before the earnings announcement and the relevant price, the high or the low, of the stock symbol on the trading day following the announcement. Approximately 93% of the analyzed stocks moved up or down according to the thumbs up/thumbs down recommendation from MediaSentiment(tm) HeadsUp.
Nearly 43%, out of the full set of 32 stocks analyzed, moved more than 5% of their price value in the direction of the sentiment indicated by HeadsUp. All of the Big Movers moved in a positive direction. Of these 67% were listed on the Nasdaq and 34% were listed on the NYSE. During the same period the Nasdaq Composite Index realized a -5.7% return and the NYSE Composite Index realized a -2.2% return.
Stocks Indicating Stronger Sentiment through a Positive Move of 5% or More:
Technology (Positive Symbols: 1) Audiovox Corp. (Nasdaq:VOXX), a 6.88% move on July 10, 2006 Healthcare (Positive Symbols: 2) Genzyme Corp. (Nasdaq:GENZ), a 9.64% move on July 12, 2006 Hi-Tech Pharmacal Co. Inc. (Nasdaq:HITK), a 12.04% move on July 12, 2006 Consumer Goods (Positive Symbols: 1) Pepsi Bottling Group Inc. (NYSE:PBG), a 7.17% move on July 11, 2006 Basic Materials (Positive Symbols: 1) Schnitzer Steel Industries Inc. (Nasdaq:SCHN), a 5.74% move on July 10, 2006 Services (Positive Symbols: 1) Acuity Brands Inc. (NYSE:AYI), a 9.97% move on July 6, 2006
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About California News Tech
California News Tech's MediaSentiment(tm) offers a range of services, available at www.mediasentiment.com, which focus on helping online investors make faster and better investment decisions. Serving traders who are interested in fast, reliable investment tools, MediaSentiment(tm) offers timely and accurate information to help take advantage of market opportunities. MediaSentiment(tm) consists of a number of indices that measure NYSE and Nasdaq companies' earnings reports and news media coverage as positive, negative or neutral. In particular, MediaSentiment HeadsUp(r) creates thumbs up/thumbs down recommendations for stocks almost instantly based on the sentiment behind their earnings reports. MediaSentiment's exclusive technology provides users with up-to-the-minute information, vital to investing, and provides a significant edge on other investors on predicting market movements. The speed and comprehensiveness of MediaSentiment HeadsUp(r) recommendations often best leading financial news sources, giving MediaSentiment(tm) subscribers a competitive edge up on other traders and allowing them more profitable trading opportunities. For additional information on California News Tech, please visit www.mediasentiment.com.
Forward-looking statement: Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, uncertainties in product demand, the impact of competitive products and pricing, changing economic conditions around the world, release and sales of new products and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission.