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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
VirtualScopics Announces Results of Annual Stockholders' Meeting
Comtex
ROCHESTER, N.Y., May 9, 2008 (PrimeNewswire via COMTEX News Network) ----VirtualScopics, Inc. (Nasdaq:VSCP), a leading provider of advanced medical imaging for clinical trials, today announced the results of its annual stockholders' meeting held on May 8, 2008 in New York City. The stockholders elected all of the nominees put forward by the board of directors for a one year term: Colby Chandler, Robert Klimasewski, Sidney Knafel, Jeff Markin, Norman Mintz, Charles Phelps, Terence Walts, Dan Kerpelman and Mostafa Analoui. The stockholders' also approved the ability for the company to effectuate a reverse stock split, if necessary, and the VirtualScopics, Inc. Non-Employee Director Compensation Plan, as well as ratifying the appointment of the company's independent registered public accounting firm, Marcum & Kliegman, LLP, for the fiscal year ending December 31, 2008.
The company's Chief Executive Officer, Jeff Markin and Chief Financial Officer, Molly Henderson presented a business overview which highlighted the significant progress made by the company over the past four years as well as its plans for the future.
"We are pleased with the strong support we've received from the vast majority of our stockholder base," said Jeff Markin. "We enjoyed this opportunity to meet with our stockholders allowing them the ability to learn more about our great company, interact with our board of directors and have their questions answered." He further added, "We believe we had a very productive meeting and look forward to providing updates on our continued achievements throughout the year."
About VirtualScopics, Inc.
VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development. VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images. In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, allowing sponsors to make better decisions faster. For more information about VirtualScopics, visit www.virtualscopics.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: VirtualScopics, Inc.
VirtualScopics, Inc. Molly Henderson, Chief Financial Officer (585)249.6231 500 Linden Oaks Rochester, New York 14625 BPC Financial Marketing Investor Relations Contact: John Baldissera (800)368.1217
(C) Copyright 2008 PrimeNewswire, Inc. All rights reserved.
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