DrStockPick.com Stock Report!

Monday August 17, 2009

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Acushnet Company, the golf business of Fortune Brands, Inc. (NYSE: FO), announced that on August 14, 2009, the United States Court of Appeals for the Federal Circuit granted the company’s request for a new trial and issued other favorable decisions in its patent dispute with Callaway Golf.

Petroleum Development Corporation (Nasdaq: PETD) announced today that it has closed its public offering of 4,312,500 shares of common stock, including 562,500 shares issued upon full exercise of underwriters’ over-allotment option, at a price to the public of $12.00 per share. The net proceeds from the offering were approximately $48.6 million (after deducting underwriting discounts and commissions and estimated expenses). Petroleum Development Corporation intends to use the net proceeds of the offering to repay borrowings under its credit facility.

Hertz Global Holdings, Inc. (NYSE: HTZ) announced it has acquired the assets of Automoti Group, Inc., an online marketplace for consumers to directly purchase used cars at discounted prices. Automoti’s end-to-end solutions are currently utilized by the Hertz Rent2Buy program which enables consumers to rent a car for up to three days prior to purchase. Terms of the acquisition were not disclosed.

Standex International Corporation (NYSE:SXI) will announce its fourth-quarter fiscal 2009 financial results on Thursday, August 20, 2009 prior to the open of the market and will broadcast its conference call live over the Internet at 10:00 a.m. Eastern Time that day.

SpongeTech(R) Delivery Systems, Inc. (”SpongeTech”) “The Smarter Sponge(TM), (OTCBB: SPNG) is pleased to announced that the Company has received approximately $13.5 million in new orders thus far in August. The Company has benefited from substantial reorders from existing customers as a result of the increased marketing campaign utilizing television, radio, six NFL teams, Major League Baseball teams and the World Football Challenge. The marketing campaign has been successful and recognized at the retail level with strong retail demand for all of SpongeTechs’ products. In addition, the Company has secured several important initial orders from major retail chains that should geographically diversify revenues. Management believes the drive in sales should continue as SpongeTech(R) brands its product line as The Smarter Sponge(TM).

Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit was filed on behalf of purchasers of Sturm, Ruger & Company, Inc. (NYSE: RGR) common stock between April 23, 2007 and October 29, 2007, inclusive, (the “Class Period”). The lawsuit is pending in the United States District Court for the District of Connecticut.

Source: E-Gate System from Alphatrade.com

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