Jersey City, NJ – October 19, 2007
The LocateStock.com HIGH FIVE for Friday, October 19th are:
5 – Aluminum Corp. of China – NYSE:ACH
4 – PetroChina – NYSE:PTR
3 – Logitech International SA – NASDAQ:LOGI
2 – DryShips – NASDAQ:DRYS
1 – LDK Solar – NYSE:LDK
Aluminum Corporation of China Limited, (NYSE:ACH) together with its
subsidiaries, engages in the production, sale, and research of alumina and
primary aluminum in the People's Republic of China. It operates in two
segments, Alumina and Primary Aluminum.
* Ongoing demand for building materials as rural China becomes wealthier
will help China's base metals demand stay strong for at least a decade more,
the chairman and CEO of China's top aluminum firm said on Thursday. Aluminum
Corp of China, also known as Chinalco, is diversifying into copper, minor
metals and rare earths to stabilize profits and capitalize on China's
continued growth, chairman Xiao Yaqing told reporters. Shares of ACH were up
$10.42 or 13.42% to settle at $88.05 after peaking at a new high of $90.95.
PetroChina Company Limited, (NYSE:PTR) together with its subsidiaries,
engages in petroleum and natural gas related activities in the People's
Republic of China. It operates in four segments: Exploration and Production,
Refining and Marketing, Chemicals and Marketing, and Natural Gas and
Pipeline.
* Shares of big Chinese companies listed in New York plunged after the
benchmark Hang Seng Index briefly topped the key 30,000 mark before pulling
back on Thursday. PetroChina was among stocks that fell, losing $12.98 or
4.92% to $250.72 Thursday.
Logitech International S.A. (NASDAQ:LOGI) engages in the design,
development, production, marketing, and support of personal interface
devices for personal computers (PCs) and other digital platforms. Its
personal peripheral products include PC navigation devices, such as corded
and cordless mice, trackballs and keyboards, and 3D control devices;
Internet communication devices, such as Webcams and headsets; digital music
devices, including speakers, headphones, and wireless music systems;
advanced remote controls for home entertainment control; and interactive
gaming devices, such as joysticks, gamepads, steering wheels, and keyboards
for PCs, as well as accessories for game consoles.
* Logitech International wrote off between $55 million and $75 million worth
of investments in bad loans repackaged and sold as securities, the company
said Thursday in its second-quarter earnings report. The Swiss maker of
computer mice and other peripherals, the latest company to be stung by the
subprime loan crisis in the U.S., said the charges resulted from a former
employee that has been terminated. The news failed to dampen investor
enthusiasm Logitech, however, as the company announced that profit during
the second quarter of its 2007-2008 fiscal year increased by 54 percent to
$80.4 million (57 million euros), from $52.2 million during the same quarter
a year ago. The figures do not take into account the write-offs, which will
be included in the coming weeks, the company said. Shares of LOGI rose $6.77
or 22.96% to $36.26 Thursday.
DryShips, Inc. (NASDAQ:DRYS) engages in the ownership and operation of
drybulk carriers worldwide. The company's fleet carries various drybulk
commodities, including coal, iron ore, and grains, bauxite, phosphate,
fertilizers, and steel products. As of May 30, 2007, it owned and operated a
fleet of 35 drybulk carriers comprising 5 Capesize, 25 Panamax, 3 Handymax,
and 2 newbuilding Panamax vessels with a combined deadweight tonnage of
approximately 2.9 million.
* Jefferies & Co raised the price targets on several shipping companies
Tuesday, saying the outlook for the dry bulk shipping market remains
attractive as significant quantities of new iron ore production capacity
come on-line over the next 12 months. The brokerage said in a research note
it expects an increase in charter rate. Jefferies maintained its "buy"
rating on all the stocks. DryShips gained $4.38, or 3.60%, to $126.16.
LDK Solar Co., Ltd., (NYSE:LDK) through its subsidiaries, manufactures and
sells multicrystalline solar wafers to the manufacturers of solar cells and
solar modules in the People's Republic of China and internationally. It
offers multicrystalline solar wafers between 180 and 240 microns in
thickness.
* Many solar stocks were pressured Thursday as the spectre of high
polysilicon prices continued to weigh on the industry. Shares of LDK Solar,
which has been plagued by allegations of improper accounting by its former
financial controller, also fell. A Wall Street Journal article on Thursday
said an internal conference call showed that other LDK executives also
questioned its polysilicon inventory. LDK shares fell $3.24, or 7.24% to
$41.51 on the NYSE.
The daily HIGH FIVE stocks are determined by the company's proprietary,
internal algorithmic calculators. The result is five securities that are the
most sought after to borrow, and have proven to be the hottest¬ stocks to
short that day.
LocateStock.com is the premier electronic securities lending company
providing revolutionary, real-time, hard-to-borrow stock locates and market
data to hedge funds and professional traders seeking an efficient and
private way to borrow stock associated with short sales. The Company
recently launched LocateStock TV, a daily financial news show that
highlights stock inventory that is available for short sellers to legally
borrow and stay in compliance with Regulation SHO.
For an in-depth market analysis on each individual, hard to borrow stock,
tune in daily to LocateStock TV, on
http://www.locatestock.com/pressrelease.html
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