Dallas, TX -- (ReleaseWire) -- 07/03/2008 -- Today’s TraderNotes include: Today’s TraderNotes include: Energy Recovery Inc. (Nasdaq: ERII), Extreme Networks Inc. (Nasdaq: EXTR), IDEXX Laboratories Inc. (Nasdaq: IDXX), Northstar Neuroscience Inc. (Nasdaq: NSTR), Cumulus Media Inc. (Nasdaq: CMLS), JAKKS Pacific Inc. (Nasdaq: JAKK), Monolithic Power Systems Inc. (Nasdaq: MPWR) and Genta Incorporated (OTCBB: GNTA)
"Energy Recovery Inc. (ERII) shares began trading yesterday at the NASDAQ Exchange after the company's initial public offering (IPO) of 14 million shares, moving up nearly 2% to $10 Thursday morning. The offering price was at $8.50 per share, near the higher end of the company's expected price range of $7 and $9 per share…
“Energy Recovery sold about 8.1 million of the shares while a group of stockholders sold the remaining 5.9 million. Energy Recovery raised about $68.7 million in gross proceeds from the IPO. It plans to use these proceeds for working capital and other general corporate purposes, including the development of new products…”
“Extreme Networks Inc. (EXTR) shares slightly fell Thursday morning, trading at $2.69. Extreme Networks provides network infrastructure equipment for corporate, government, education and health care enterprises, and metropolitan telecommunications service providers…
“Extreme Networks recently announced that Strategic Products and Services (SPS), a national leader in providing full-service integrated telecommunications and enterprise convergence solutions, has achieved Extreme Networks' Diamond Elite level partner status as part of its North American Channel Partner Program. SPS is also a Platinum Certified Avaya Business Partner…”
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Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Energy Recovery Inc. (ERIII). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.