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This report, from the Institute for Supply Management, is among the most-watched economic surveys by stock and bond traders because a) it is one of the first to come out each month, b) it is a great gauge of the U.S. economic health, c) it has been a consistent measure for decades, and d) is from the private sector, so the government can't manipulate the numbers.
The ISM Report on Business grew from a small-scale survey in 1931 to a snapshot that encompasses more than 300 companies in a wide range of industries. The ISM polls business managers, asking them to evaluate changes in factors like production, new orders, inventories and prices and contrasts them with their answers from the previous month. Then, the answers are crunched and spit out as an index. If the number comes in north of 50, it suggests the economy is expanding (a good sign). Under that level, and it's shrinking (not so good).
Traders love this report because it usually sets the tone for all the other data that is released each month. (Only the monthly federal Employment Situation report tends to have as much impact on the markets.) Sometimes, its components are more important than the whole. If stock and bond traders are worried about inflation, they'll look at what the survey said about the prices companies are paying for goods and the wages they're paying their workers to see signs that prices might be rising.
The ISM figures originally tracked just manufacturing data, but the group started polling service industries in the 1990s. That report, though, doesn't have the same market punch as the manufacturing numbers, but could as the service economy continues to grow in the U.S.
We end on a historical note: For years, the ISM numbers were actually known as "napalm," because the ISM used to be the National Association of Purchasing Managers. But many in the market (and in the organization itself) weren't keen on being associated with a Vietnam-era weapon.
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Friday, May 09, 2008
WorldWater & Solar Technologies to Host First Quarter Conference Call on May 19, 2008
Comtex
EWING, N.J., May 09, 2008 (BUSINESS WIRE) ----WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-horsepower solar systems, today announced that it will host its first ever earnings conference call at 10:00 a.m. Eastern on May 19, 2008 for the first quarter ended March 31, 2008. Earnings will be issued before the market opens that day, and the filing of the company's results with the SEC on Form 10-Q will follow. During the call, Frank Smith, CEO, and Larry Crawford, CFO, will review the company's operations and financial results. The telephone number for the conference call is 617-224-4326, conference ID # 98875418. A live webcast of the call will also be available on the company's website, www.WorldWater.com.
"WorldWater has reached the point where we felt it was appropriate to begin having quarterly earnings calls," stated Frank Smith, CEO. "The company is dedicated to improving operating results and increasing transparency for our shareholders, and we look forward to discussing our financial performance and go-forward business strategy. Solar energy demand remains strong across our end markets, and we are focused on the fundamentals - completing current contracts, improving cycle times, increasing visibility, paving a path to profitability, and winning new opportunities."
The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for thirty days by calling 617-801-6888, conference ID #88953046. The encore recording will be available two hours after the conference call has concluded.
About WorldWater & Solar Technologies Corp.:
WorldWater & Solar Technologies Corp. is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that can not only generate and distribute electricity, but can drive 1000 horsepower motors and pumps from sunshine independently or in conjunction with the electric grid, providing solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Solar Technologies Corp., visit the website at www.worldwater.com.
About ENTECH, Inc.:
ENTECH, a unit of WorldWater & Solar Technologies, provides advanced solar energy technology for a variety of applications, ranging from day lighting systems for commercial buildings to solar power arrays for spacecraft. The company's patented solar power systems produce electricity from sunlight for applications on Earth (terrestrial power) and in space (spacecraft power). ENTECH's Fresnel lenses capture sunlight and focus it onto small solar cells, thereby reducing electricity costs compared to conventional flat-plate (planar) solar energy approaches. Additional information can be found at http://www.entechsolar.com.
Forward Looking Statements:
Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB and its quarterly reports on Form 10-QSB both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.
SOURCE: WorldWater & Solar Technologies Corp.
WorldWater & Solar Technologies Corp. Press Contact: Amy Copeman, 609-818-0700 ext. 58 ACopeman@worldwater.com or Investor Relations Contact: Chris Witty, 646-438-9385 cwitty@darrowir.com
Copyright Business Wire 2008
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