WESTON, Fla., Sept. 21, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: FoneFriend, Inc. (OTCBB:FFRD), Air T, Inc. (Nasdaq:AIRT), 8x8, Inc. (Nasdaq:EGHT) and Genentech, Inc. (NYSE:DNA).
Aggressive investors and traders will be watching FoneFriend, Inc. (OTCBB:FFRD) yet again this morning as the company continues to pour out good news! Yesterday after the markets closed, the company issued a press release announcing that the company's subscriber base for Voice over Internet Protocol (VoIP) service grew last week to 72,714 customers!
This is more great news for investors! FoneFriend President, Robin Glanzl, said, "Through our marketing partner Infinicom, we are experiencing exceptionally strong levels of demand for VoIP service from new customers to the network as shown by recent customer acquisitions. We anticipate significant future growth levels as more people become aware of our low cost, $15 a month calling plan, as a very real cost-cutting alternative to their traditional phone company service. The Infinicom network architecture is proving to be both robust and high quality in terms of our ability to rapidly grow a large revenue base."
Karin Blevins, VP Carrier Networks for Infinicom said, "The activation of FoneFriend's customers occurred during Saturday, September 18. In all, 12,714 new subscribers were activated with 11,950 subscribers using the service that same day. Last Saturday our network handled over 360,000 calls for FoneFriend subscribers."
Investors watch this one! This news follows the company's announcement of just a week ago that they had reached 70,000 paying subscribers.
It was also just last month that the company announced that it generated revenues slightly in excess of $1 million from this first month of operations!
The stock closed yesterday at twenty-eight cents a share.
In case you are not familiar with the company: FoneFriend is a rapidly emerging company in the fast growing VoIP industry. The company provides its customers with access to extremely low cost, long-distance calling via the Internet, using only a standard telephone handset or their personal computer. The company's web site is http://www.fonefriend.biz.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Air T, Inc. (Nasdaq:AIRT) up 26% on 2.8 million shares traded, 8x8, Inc. (Nasdaq:EGHT) up 8.9% on 3.6 million shares traded and Genentech, Inc. (NYSE:DNA) up 3.6% on 6 million shares traded.
Commentary:
"Oil prices advanced to their highest level in a month Monday, surpassing $46 a barrel, as supply constraints in the United States and Russia piqued the nerves of a market already edgy about the world's limited production capabilities and rising demand," stated Mario Cardenas in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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