WESTON, FL -- (Marketwire) -- 10/06/10 -- Wall Street News Alert's "stocks to watch" this morning are: Unity Management Group Inc. (PINKSHEETS: UYMG), Johnson & Johnson (NYSE: JNJ), Amgen (NASDAQ: AMGN) and Celgene Corporation (NASDAQ: CELG).
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Yesterday after the markets closed, Unity Management Group Inc. (PINKSHEETS: UYMG) issued a press release announcing that its Board has agreed to retire and eliminate 127,036,820 from its issued and outstanding shares. These shares have been retired immediately, and are effective as of this release. The new structure is 240,000,000 authorized shares, and 100,000,000 issued and outstanding, with 43,439,000 in the float.
As previously announced the Board of Directors had agreed to the reduction of the authorized, but in light of the Letter Of Intent, and the completion of the due diligence of MCC/Legacy, the Company has decided that shareholder appreciation, and value would be better achieved through reduction of the issued and outstanding.
"After further reviews it makes more sense to lower the issued and outstanding, than the authorized, and puts less shares into the market, increases the market cap, which is better for the investors and shareholders," said Michael Oliver, Vice President.
The company will be holding its first live investor conference via telephone within the next week. The call in info will be posted on our next company press release.
The stock closed yesterday at One cent per share.
Johnson & Johnson (NYSE: JNJ) up 1.8% on 12.4 million shares traded. Johnson & Johnson is caring for the world one person at a time... inspires and unites the people of Johnson & Johnson. We embrace research and science -- bringing innovative ideas, products and services to advance the health and well-being of people.
Amgen (NASDAQ: AMGN) up 1.9% on 5.6 million shares traded.
Amgen discovers, develops, manufactures and delivers innovative human therapeutics.
Celgene Corporation (NASDAQ: CELG) up 2.3% on 3.5 million shares traded.
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.
The Institute for Supply Management said Tuesday that its service-sector index rose last month to 53.2 from 51.5 in August. The rate hit a high point of 55.4 in March, stayed there in April and May, and has fluctuated since. Readings above 50 signal growth.
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Wednesday, September 21, 2011
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