News / Finance
Mid Day Market News for Tuesday September 20, 2011: Takedown Entertainment Inc., Jazz Pharmaceuticals, Inc., Atrinsic, Inc., Kona Grill, Inc., Magnum Hunter Resources Corporation
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Takedown Entertainment Inc. (www.takedownentertainment.com) (OTC: TKDN), an authority in the business of mixed martial arts, is pleased to announce it has signed a Letter of Intent to acquire worldwide distribution rights to past and future MMA fights with Fight Festival, plus certain brand and sponsorship rights.
Finnish MMA fight promotion Fight Festival, founded by Petteri Maunu in 1998, is the longest running mixed martial arts organization in the country. Making its primary home in Helsinki, Fight Festival has featured a long list of prominent MMA fighters including Pride Fighting Championships & UFC veteran Gilbert Yvel, Bellator middleweight tournament champion Alexander “Storm” Shlemenko, and Dream light heavyweight champion & Strikeforce veteran Gegard Mousasi. For more than thirteen years Fight Festival has promoted a quality of mixed martial arts content that would rival any major promotion in the world.
“Takedown is a brilliant concept,” stated Fight Festival promoter Petteri Maunu. “It will bring us a huge boost in TV and media coverage, giving us much welcome worldwide exposure.”
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Other stocks highlighted include:
Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) said on 9/19/11 it has agreed to combine with privately-held Azur Pharma Limited in an all-stock transaction. The combined company would be named Jazz Pharmaceuticals plc, incorporated in Ireland, with expected annual revenues of more than $475 million. The transaction is expected to close during the first quarter of 2012. Azur Pharma is a privately-held, specialty pharmaceutical company headquartered in Dublin, Ireland with US operations in Philadelphia. The company markets ten specialty pharmaceutical products in the US in the central nervous system and women's health areas, with expected 2011 net sales of approximately $95 to $100 million.
Atrinsic, Inc. (NASDAQ: ATRN), a marketer of direct-to-consumer subscription products, including Kazaa (www.kazaa.com) - a digital music subscription service, announced today 9/20/11, that its streaming music application is now available for download through Apple’s App Store. The Kazaa app can be downloaded for free – users can enjoy a free seven day trial. All subscribers get access to Kazaa’s constantly updated catalogue of millions and millions of songs.
Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar, on 9/19/11 has increased its revenue and net income guidance for the third quarter ending September 30, 2011. As the result of strong sales growth during the quarter, the company has increased its third quarter revenue guidance and now expects revenue to range between $24.1 million and $24.2 million, which is a $500,000 increase on the high end of its guidance previously revised on August 1, 2011. The updated guidance anticipates same-store sales growth of approximately 9% over the same year-ago quarter, as compared to 6% growth previously forecasted.
Magnum Hunter Resources Corporation (NYSE: MHR) provided today 9/20/11, a drilling, operational, and production update on the Company's activities in the oil-window of the Eagle Ford Shale unconventional resource play located across approximately 51,664 gross acres predominately in Gonzales and Lavaca Counties of South Texas.
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All material herein was prepared by Obsidian Financial Communications, Inc. (OFC) based upon information believed to be reliable. The information contained herein is not guaranteed by OFC to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. OFC is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://OFinancialinc.com or mentioned herein. Takedown Entertainment Inc. (OTC: TKDN) - OFC has not been compensated for TKDN. In addition to any compensation mentioned above, additional compensation can be equal to ten percent of any newly issued or registered securities of the profiled companies. OFC's affiliates, officers, directors and employees may own shares and intend to buy and sell additional shares of the companies mentioned herein and may profit in the event those shares rise in value. OFC will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market. To see OFC's full disclaimer / compensation, please visit our web site: http://ofinancialinc.com/disclaimer
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