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Digg it UP - Wall Street to Main Street: News, Views and Commentary: May 5, 2006
Press Release Marketing – The Best Way to Popularity ntracts during the second quarter ended April 30. The company is in the business of building luxury homes and the real estate market seems to be softening a bit, so there is one of your reasons. But the stock may have some life and bounce off of its 52 week low of $28.70.There have been so many Hollywood stars that have properly used press release for their popularity. Though sometimes they tend to post exaggerated press release, still these served the purpose of getting more attention.Just imagine how would press release do well to your web site! If press release have helped many actresses and actors to reach stardom, then it would have the same effect to your Internet business. It is one of the important Internet marketing strategies that could attract attention from targeted visitors.A press release can be used especially if there are important events that are coming. This will give your customers then an idea how would this event or update do well for them. A press release of an award won would even help build your credibility.It is also important to note that for a press release to be effective, it should not only appeal to the media. Better yet, the press release should also make a great impact to the public. It should be unbiased as well as conversational. Do not forget also to match the press release with the right media. Y Eastman Kodak (NYSE: EK) may be considering the sale of its health-imaging business after reporting a $298 million loss in the first quarter; this is the 6th straight quarterly loss. So EK may be looking to reinvent itself to compete in the digital age. FURIOUS FIVE This is the fifth of our “Furious Five” companies that we see excelling in their industry in 2006. The fifth addition to round off this week’s Furious Five is True Religion Apparel (NASDAQ: TRLG) it trades on the Nasdaq under the symbol TRLG. For our outlook, and other vital information on the companies that we feature as the "FURIOUS FIVE" on Wall Street to Main Street just subscribe for FREE at www.namcnewswire.com We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, it’s only for your prot A Real CRM Strategy or Just Tracking Customers? It’s Friday May 5, 2006, and it’s the last day of the trading week for the first week of May, and the DOW is headed into record territory as it looks to hit an all time high.Exactly what is CRMThe idea itself is nothing new; its roots have been around since trading began. The principle of looking after your customers so that they come back regularly is, after all, merely the basis of good trading. In an increasingly competitive commercial world however, strong customer relationships take on an increasing importance. With the cost of selling to a new customer being five times the cost of selling to an existing one you can’t afford to lose established business.Yes, you still want new markets, and yes, for various reasons customers will still disappear. The important thing is to minimise this loss and make sure the reasons behind it don’t stem from something you are doing – or more significantly something you are not doing.Which is why good Customer Relationship Management is vital – and why the process has now been refined to make it more effective than ever.What does CRM Involve?In essence, making your customer feel special by understanding his needs and fulfilling those needs in a personal manner which will keep him comin Congratulations to those Wall Street to Main Street subscribers that emailed us to let us know that they took positions in OmniVision Technologies (NASDAQ: OVTI) last week and Crocs, Inc (NASDAQ: CROX) yesterday after we issued our outlook on the companies. For a listing of our “Furious Five” picks go to www.namcnewswire.com, to get them sent to you daily just subscribe to Wall Street to Main Street, it's FREE. The NAMC Newswire’s “Wall Street to Main Street” segment in its entirety is only available to subscribers. Don’t miss out and Keep in mind that all subscriptions are free and will remain that way. All that you need to do is go to www.namcnewswire.com and add your email address to receive the full segments. We value your privacy and all email addresses are only used for NAMC related items and not shared with any third parties. We want to hear from our readers/listeners, so drop us a line, maybe you have a question about a certain company or perhaps you want to introduce us to a company that we should know about.. All that you need to do is either shoot us out an email using our contact form on our website at www.namcnewswire.com or give us a call toll free at 888-463-9237 between the hours of 6:30pm and 12am EST weekdays. Your question could be a part of the Wall Street to Main Street radio show that is syndicated daily. Remember that you can always listen to the NAMC Radio on Streetiq.com, the leader in financial podcast. www.streetiq.com and is also available on iTunes. Political Front In Nepal, it looks like the Maoist Rebels wouldn’t take no for an answer as they will indeed be involved in the peace talks with the government. As we spoke about yesterday, China went against the Vatican and the Pope as they appointed two new Bishops, but the Vatican didn’t like that too much and swiftly excommunicated those Bishops. U.S. Vice President Dick Cheney made some strong remarks yesterday against Russia claiming that they used energy as a form of “Black Mail”. Yep, just what we needed more fuel on the fire. Movers and Shakers Some major movers in yesterday’s trading session included Catalina Marketing (NYSE: POS) which traded up $3.95 to close at $29.08, Petroleum Geo-Service (NYSE: PGS) traded up $8.65 to close at $68.50, HerbaLife LTD (NYSE: HLF) traded up $3.64 to close at $37.77, Kadant Inc (NYSE: KAI) traded up $2.33 to close at $26.04, Ariad Pharmaceuticals (NASDAQ: ARIA) which traded up $1.45 to close at $6.99 based on a multi million dollar legal settlement, Imergent Inc (AMEX: IIG) traded up $3.29 to close at $15.55, Applied Films (NASDAQ: AFCO) which traded up $5.06 to close at $28.03 and Expeditors International (NASDAQ: EXPD) which traded up $16.04 to close at $103.80. Analyst Upgrades/Downgrades Recent Analyst upgrades include Janus Cap Group (NYSE: JNS) which was upgraded to a Neutral from Reduce by UBS, Barr Laboratories (NYSE: BRL) which was upgraded to a Overweight from a Neutral by JP Morgan, Central Garden (NASDAQ: CENT) which was upgraded to a Sector Outperformer from a Sector Perform by CIBC World Markets and Green Mountain Coffee (NASDAQ: GMCR) which was upgraded to a Buy from a Neutral by Janney, Montgomery, Scott. Recent Analyst downgrades include Analog Devices (NYSE: ADI) which was downgraded to a Neutral from a Buy by Merrill Lynch and Oneok Inc (NYSE: OKE) which was downgraded to an Equal Weight from an Overweight. Analyst Coverage Initiations include MGP Ingredients (NASDAQ: MGPI) which was initiated with a Neutral rating and a $31 price target by Sidoti & Co, Roper Industries (NYSE: ROP) was initiated with a Buy rating and a $56 price target by AG Edwards and Pra International (NASDAQ: PRAI) which was initiated with an Equal Weight rating and a $26 price target by Lehman Brothers. Tid Bits In a story that was unleashed by The Wall Street Journal, it looks like the U.S. Attorney's Office for the Eastern District of New York has issued subpoenas to Comverse Technology (NASDAQ: CMVT) in regards to the issuance of stock option grants from 1995 to 2006. So this becomes a criminal investigation as some of the top dogs at Comverse have recently resigned but the investigation will put them right back into the thick of things. Warren Buffet may have his sights set on a new acquisition; Berkshire Hathaway (NYSE: BRKA: BRKB) may announce this at the company’s annual meeting, two companies that are mentioned to be the potential targets include the San Francisco utility PG&E (NYSE: PCG) and Los Angeles automotive insurer Mercury General (NYSE: MCY). The bid for $51 a share bid for Aztar (NYSE: AZR) by Pinnacle Entertainment (NYSE: PNK) expired yesterday, as Aztar gave no response to the offer. Is that in the best interest of the shareholders?, sometimes holding out for a better offer doesn’t work out as companies plan, so we’ll see what the outcome will be shortly. Toll Brothers (NYSE: TOL) missed the mark and paid the price as they announced a 29% decline in signed contracts during the second quarter ended April 30. The company is in the business of building luxury homes and the real estate market seems to be softening a bit, so there is one of your reasons. But the stock may have some life and bounce off of its 52 week low of $28.70. Eastman Kodak (NYSE: EK) may be considering the sale of its health-imaging business after reporting a $298 million loss in the first quarter; this is the 6th straight quarterly loss. So EK may be looking to reinvent itself to compete in the digital age. FURIOUS FIVE This is the fifth of our “Furious Five” companies that we see excelling in their industry in 2006. The fifth addition to round off this week’s Furious Five is True Religion Apparel (NASDAQ: TRLG) it trades on the Nasdaq under the symbol TRLG. For our outlook, and other vital information on the companies that we feature as the "FURIOUS FIVE" on Wall Street to Main Street just subscribe for FREE at www.namcnewswire.com We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, it’s only for your prote Styles Of Negotiation site at www.namcnewswire.com or give us a call toll free at 888-463-9237 between the hours of 6:30pm and 12am EST weekdays. Your question could be a part of the Wall Street to Main Street radio show that is syndicated daily.Our style of negotiation will be influenced by the style of the other party. If both sides are adversarial; there will be little trust between the two parties, however, if one side decides to be co-operative, there is a danger the other side will use this apparent sign of weakness to their advantage.Co-operative bargaining has the advantage of being a more efficient style of negotiation, however certain rules have to be followed by both parties for it to work. Let us look at the two styles of bargaining and their features:Features Of Adversarial Bargaining:• Each side takes up a position and defends it.• Opening bids are set at unrealistic levels; too high or too low, in order to giveroom for manoeuvre.• Movement is small or non-existent until later on in the negotiation.• Tactics are used to gain short term advantage.• Too much emphasis is placed on trust. .This really is my best price!• Information is withheld, or misrepresented.• The outcome is often “win-lose”, or “lose-lose”.• The more ag Remember that you can always listen to the NAMC Radio on Streetiq.com, the leader in financial podcast. www.streetiq.com and is also available on iTunes. Political Front In Nepal, it looks like the Maoist Rebels wouldn’t take no for an answer as they will indeed be involved in the peace talks with the government. As we spoke about yesterday, China went against the Vatican and the Pope as they appointed two new Bishops, but the Vatican didn’t like that too much and swiftly excommunicated those Bishops. U.S. Vice President Dick Cheney made some strong remarks yesterday against Russia claiming that they used energy as a form of “Black Mail”. Yep, just what we needed more fuel on the fire. Movers and Shakers Some major movers in yesterday’s trading session included Catalina Marketing (NYSE: POS) which traded up $3.95 to close at $29.08, Petroleum Geo-Service (NYSE: PGS) traded up $8.65 to close at $68.50, HerbaLife LTD (NYSE: HLF) traded up $3.64 to close at $37.77, Kadant Inc (NYSE: KAI) traded up $2.33 to close at $26.04, Ariad Pharmaceuticals (NASDAQ: ARIA) which traded up $1.45 to close at $6.99 based on a multi million dollar legal settlement, Imergent Inc (AMEX: IIG) traded up $3.29 to close at $15.55, Applied Films (NASDAQ: AFCO) which traded up $5.06 to close at $28.03 and Expeditors International (NASDAQ: EXPD) which traded up $16.04 to close at $103.80. Analyst Upgrades/Downgrades Recent Analyst upgrades include Janus Cap Group (NYSE: JNS) which was upgraded to a Neutral from Reduce by UBS, Barr Laboratories (NYSE: BRL) which was upgraded to a Overweight from a Neutral by JP Morgan, Central Garden (NASDAQ: CENT) which was upgraded to a Sector Outperformer from a Sector Perform by CIBC World Markets and Green Mountain Coffee (NASDAQ: GMCR) which was upgraded to a Buy from a Neutral by Janney, Montgomery, Scott. Recent Analyst downgrades include Analog Devices (NYSE: ADI) which was downgraded to a Neutral from a Buy by Merrill Lynch and Oneok Inc (NYSE: OKE) which was downgraded to an Equal Weight from an Overweight. Analyst Coverage Initiations include MGP Ingredients (NASDAQ: MGPI) which was initiated with a Neutral rating and a $31 price target by Sidoti & Co, Roper Industries (NYSE: ROP) was initiated with a Buy rating and a $56 price target by AG Edwards and Pra International (NASDAQ: PRAI) which was initiated with an Equal Weight rating and a $26 price target by Lehman Brothers. Tid Bits In a story that was unleashed by The Wall Street Journal, it looks like the U.S. Attorney's Office for the Eastern District of New York has issued subpoenas to Comverse Technology (NASDAQ: CMVT) in regards to the issuance of stock option grants from 1995 to 2006. So this becomes a criminal investigation as some of the top dogs at Comverse have recently resigned but the investigation will put them right back into the thick of things. Warren Buffet may have his sights set on a new acquisition; Berkshire Hathaway (NYSE: BRKA: BRKB) may announce this at the company’s annual meeting, two companies that are mentioned to be the potential targets include the San Francisco utility PG&E (NYSE: PCG) and Los Angeles automotive insurer Mercury General (NYSE: MCY). The bid for $51 a share bid for Aztar (NYSE: AZR) by Pinnacle Entertainment (NYSE: PNK) expired yesterday, as Aztar gave no response to the offer. Is that in the best interest of the shareholders?, sometimes holding out for a better offer doesn’t work out as companies plan, so we’ll see what the outcome will be shortly. Toll Brothers (NYSE: TOL) missed the mark and paid the price as they announced a 29% decline in signed contracts during the second quarter ended April 30. The company is in the business of building luxury homes and the real estate market seems to be softening a bit, so there is one of your reasons. But the stock may have some life and bounce off of its 52 week low of $28.70. Eastman Kodak (NYSE: EK) may be considering the sale of its health-imaging business after reporting a $298 million loss in the first quarter; this is the 6th straight quarterly loss. So EK may be looking to reinvent itself to compete in the digital age. FURIOUS FIVE This is the fifth of our “Furious Five” companies that we see excelling in their industry in 2006. The fifth addition to round off this week’s Furious Five is True Religion Apparel (NASDAQ: TRLG) it trades on the Nasdaq under the symbol TRLG. For our outlook, and other vital information on the companies that we feature as the "FURIOUS FIVE" on Wall Street to Main Street just subscribe for FREE at www.namcnewswire.com We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, it’s only for your prot Internet Business , Advertising tools , Work at Home Online, home business, market worldwide,Network euticals (NASDAQ: ARIA) which traded up $1.45 to close at $6.99 based on a multi million dollar legal settlement, Imergent Inc (AMEX: IIG) traded up $3.29 to close at $15.55, Applied Films (NASDAQ: AFCO) which traded up $5.06 to close at $28.03 and Expeditors International (NASDAQ: EXPD) which traded up $16.04 to close at $103.80.Where can I advertise to get good results? 1. There are BILLIONS of Websites and blogs. Use a search engine like Google to find Websites and blogs that interest you. Now start surfing. When you find one you like and/or that you know has a good amount of traffic, contact the Webmaster (there's usually a "Contact Us" link in the footer or header of most sites) and ask about advertising on their site. You might be shocked at how cheap you can get banners on some fairly high traffic sites. Also, don't be surprised if some of the Websites you start advertising on decide to become affiliates themselves (sponsored by you of course). Each time this happens, you will have just created FREE (which is even better than cheap) advertising for your business! 2. Think newsletters! Hundreds of thousands of Websites publish newsletters Many Websites feature a newsletter signup link on their homepages. When you find one, contact the Webmaster and ask if they will run an ad for you in their newsletter. Here again, you may be amazed Analyst Upgrades/Downgrades Recent Analyst upgrades include Janus Cap Group (NYSE: JNS) which was upgraded to a Neutral from Reduce by UBS, Barr Laboratories (NYSE: BRL) which was upgraded to a Overweight from a Neutral by JP Morgan, Central Garden (NASDAQ: CENT) which was upgraded to a Sector Outperformer from a Sector Perform by CIBC World Markets and Green Mountain Coffee (NASDAQ: GMCR) which was upgraded to a Buy from a Neutral by Janney, Montgomery, Scott. Recent Analyst downgrades include Analog Devices (NYSE: ADI) which was downgraded to a Neutral from a Buy by Merrill Lynch and Oneok Inc (NYSE: OKE) which was downgraded to an Equal Weight from an Overweight. Analyst Coverage Initiations include MGP Ingredients (NASDAQ: MGPI) which was initiated with a Neutral rating and a $31 price target by Sidoti & Co, Roper Industries (NYSE: ROP) was initiated with a Buy rating and a $56 price target by AG Edwards and Pra International (NASDAQ: PRAI) which was initiated with an Equal Weight rating and a $26 price target by Lehman Brothers. Tid Bits In a story that was unleashed by The Wall Street Journal, it looks like the U.S. Attorney's Office for the Eastern District of New York has issued subpoenas to Comverse Technology (NASDAQ: CMVT) in regards to the issuance of stock option grants from 1995 to 2006. So this becomes a criminal investigation as some of the top dogs at Comverse have recently resigned but the investigation will put them right back into the thick of things. Warren Buffet may have his sights set on a new acquisition; Berkshire Hathaway (NYSE: BRKA: BRKB) may announce this at the company’s annual meeting, two companies that are mentioned to be the potential targets include the San Francisco utility PG&E (NYSE: PCG) and Los Angeles automotive insurer Mercury General (NYSE: MCY). The bid for $51 a share bid for Aztar (NYSE: AZR) by Pinnacle Entertainment (NYSE: PNK) expired yesterday, as Aztar gave no response to the offer. Is that in the best interest of the shareholders?, sometimes holding out for a better offer doesn’t work out as companies plan, so we’ll see what the outcome will be shortly. Toll Brothers (NYSE: TOL) missed the mark and paid the price as they announced a 29% decline in signed contracts during the second quarter ended April 30. The company is in the business of building luxury homes and the real estate market seems to be softening a bit, so there is one of your reasons. But the stock may have some life and bounce off of its 52 week low of $28.70. Eastman Kodak (NYSE: EK) may be considering the sale of its health-imaging business after reporting a $298 million loss in the first quarter; this is the 6th straight quarterly loss. So EK may be looking to reinvent itself to compete in the digital age. FURIOUS FIVE This is the fifth of our “Furious Five” companies that we see excelling in their industry in 2006. The fifth addition to round off this week’s Furious Five is True Religion Apparel (NASDAQ: TRLG) it trades on the Nasdaq under the symbol TRLG. For our outlook, and other vital information on the companies that we feature as the "FURIOUS FIVE" on Wall Street to Main Street just subscribe for FREE at www.namcnewswire.com We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, it’s only for your prot Good Logo Design ich was initiated with an Equal Weight rating and a $26 price target by Lehman Brothers.A good logo design represents a good company that clients and customers alike can put their trust in. Although it might seem like a minimalist issue when it comes to talking about a big company a logo actually has a lot of influence on how the company it stands for fares in its respective market. And it does not matter how big or small the company is, it has a great impact on its acceptance by the people. It comes as no surprise that all the companies place so much importance on such a small symbol.When you are going to start a new company or a new business venture a logo is one of the first things that should be decided upon: a logo that somehow tries to represent the ideals and interests of the respective company. A good logo design seeks to do several things for the company that it represents. It serves to give a good first impression of the company it represents to whosoever its customers happen to be. Before the company is known well it is the logo which will attract the attention of potential clients and customers. Nowadays brand recognition is very important in all kinds Tid Bits In a story that was unleashed by The Wall Street Journal, it looks like the U.S. Attorney's Office for the Eastern District of New York has issued subpoenas to Comverse Technology (NASDAQ: CMVT) in regards to the issuance of stock option grants from 1995 to 2006. So this becomes a criminal investigation as some of the top dogs at Comverse have recently resigned but the investigation will put them right back into the thick of things. Warren Buffet may have his sights set on a new acquisition; Berkshire Hathaway (NYSE: BRKA: BRKB) may announce this at the company’s annual meeting, two companies that are mentioned to be the potential targets include the San Francisco utility PG&E (NYSE: PCG) and Los Angeles automotive insurer Mercury General (NYSE: MCY). The bid for $51 a share bid for Aztar (NYSE: AZR) by Pinnacle Entertainment (NYSE: PNK) expired yesterday, as Aztar gave no response to the offer. Is that in the best interest of the shareholders?, sometimes holding out for a better offer doesn’t work out as companies plan, so we’ll see what the outcome will be shortly. Toll Brothers (NYSE: TOL) missed the mark and paid the price as they announced a 29% decline in signed contracts during the second quarter ended April 30. The company is in the business of building luxury homes and the real estate market seems to be softening a bit, so there is one of your reasons. But the stock may have some life and bounce off of its 52 week low of $28.70. Eastman Kodak (NYSE: EK) may be considering the sale of its health-imaging business after reporting a $298 million loss in the first quarter; this is the 6th straight quarterly loss. So EK may be looking to reinvent itself to compete in the digital age. FURIOUS FIVE This is the fifth of our “Furious Five” companies that we see excelling in their industry in 2006. The fifth addition to round off this week’s Furious Five is True Religion Apparel (NASDAQ: TRLG) it trades on the Nasdaq under the symbol TRLG. For our outlook, and other vital information on the companies that we feature as the "FURIOUS FIVE" on Wall Street to Main Street just subscribe for FREE at www.namcnewswire.com We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, it’s only for your prot Day Trading – Will NOT Make You Money - Here's Why ntracts during the second quarter ended April 30. The company is in the business of building luxury homes and the real estate market seems to be softening a bit, so there is one of your reasons. But the stock may have some life and bounce off of its 52 week low of $28.70.I keep reading about day trading and how great it is, but the fact is ask for a day trader for a real time track record of profits over a long period of time and you wont get one.Why? Because day trading is a mugs game – don’t believe this read on and find out.Day trading doesn’t work because there is no way of predicting volatility and direction in short periods of time.Of course, day traders say they can make money, but really their making money out of you by selling systems that don’t work.Where’s the track record?You never get a real time track record, however:You get always get a hypothetical track record that looks good. In fact, they very often look great, but what is a hypothetical track record?Let me explain:It’s one that is done in hindsight, KNOWING the closing price!Now could you make money knowing the price in advance?Of course you could.My daughter could do that and she’s 12, but she can’t trade.So why doesn’t day trading work?Two reasons:In day trading you can’t predict wha Eastman Kodak (NYSE: EK) may be considering the sale of its health-imaging business after reporting a $298 million loss in the first quarter; this is the 6th straight quarterly loss. So EK may be looking to reinvent itself to compete in the digital age. FURIOUS FIVE This is the fifth of our “Furious Five” companies that we see excelling in their industry in 2006. The fifth addition to round off this week’s Furious Five is True Religion Apparel (NASDAQ: TRLG) it trades on the Nasdaq under the symbol TRLG. For our outlook, and other vital information on the companies that we feature as the "FURIOUS FIVE" on Wall Street to Main Street just subscribe for FREE at www.namcnewswire.com We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, it’s only for your protection. When it comes to thinly traded securities stagger your orders or put a limit order in to avoid a run up. NAMC Newswire Note Go to the NAMC Newswire for updates at www.namcnewswire.com and you can listen to the NAMC Radio for the audio version of “Wall Street to Main Street” at www.namcnewswire.com/namcradio Disclaimer: None of the information contained on the NAMC Newswire constitutes a recommendation by the NAMC Newswire, its journalist, nor its parent company that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific investors or person. Each individual investor must make their own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy featured on the NAMC Newswire or NAMC Radio Any past results are not necessarily indicative of future performance. The NAMC Newswire, its journalist nor its parent company does not guarantee any specific outcome or profit, and all investors should be aware of the real risk of loss in following any strategy or investments featured on the NAMC Newswire or the NAMC Radio. The strategy or investments discussed may fluctuate in price or value and investors may get back less than you invested. Before acting on any information featured on the NAMC Newswire website or the NAMC Radio segment, investors should consider whether it is suitable for their particular circumstances and strongly consider seeking advice from their own financial or investment adviser. Investors are also urged to do their own due diligence before investing in any security. All opinions featured on the NAMC Newswire or NAMC Radio are based upon information that is considered to be reliable, but neither the NAMC Newswire, its journalist, its parent company, affiliates nor assigns warrant its completeness or accuracy, and it should not be relied upon as such. The statements and opinions featured on the NAMC Newswire by its journalist are based on their outlook at the time of the statement or opinion, and are subject to change without notice. NAMC may at times hold a position in the companies that it features, in these cases appropriate disclosure is made.
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