WESTON, FL -- (Marketwire) -- 01/21/10 -- Wall Street News Alert's "stocks to watch" this morning are: Spine Pain Management, Inc. (OTCBB: SPIN), Abbott (NYSE: ABT), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) and Cree, Inc. (NASDAQ: CREE).
Yesterday after the markets closed, Spine Pain Management, Inc. (OTCBB: SPIN) issued a press release announcing the appointment of John Talamas as Director of Operations. Talamas has an extensive business background in developing and launching successful marketing programs for attorneys, doctors treating injured workers, and medical facilities primarily associated with patients with spinal problems. He has been an integral part of the team that conceptualized and now implemented SPIN's unique business model. As Director of Operations, his primary task will now be to co-ordinate and control the nationwide roll out of SPIN's Spine Pain Treatment Centers.
The company had previously reported that as part of its nationwide "roll-out" strategy, it has entered into an agreement with Forest Park Medical Center in Dallas, Texas to open its second clinic within the state-of-the-art facility. Forest Park, a doctor owned, full-service, acute-care hospital that focuses on high-quality surgical services, will facilitate SPIN's medical spine injection procedures.
"This marks an important milestone for our company that seems to fall completely in line with our business strategy," stated William F. Donovan, M.D., the Company's Chief Executive Officer. "Dallas represents an incredible opportunity for our company. Establishing ourselves in this high-density market, we believe we should experience an equal, if not greater amount of patient traffic as our Houston center, giving us the ability to double or better our revenues of profits."
SPIN previously announced that its first spine treatment center in Houston, Texas reported that its revenues for the quarter ended September 30, 2009 were $230,000. These third quarter revenues delivered net income of $119,642 or approximately $.01 a share for the quarter. Based on this success and the anticipated increase in revenues for the quarter ended December 31, 2009 the company has initiated a nationwide "roll out" of Spine Pain Treatment Centers across the U.S. into major metropolitan cities. The initial strategy now calls for the development and deployment of a minimum of seven, to as many as ten centers across the U.S. over the next 24 months.
The stock closed yesterday at $1.41 a share.
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Abbott (NYSE: ABT) up 0.07% on 6.7 million shares traded. Abbott is a global, broad-based health care company devoted to the discovery, development, manufacturing and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics.
Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) up 6.8% on 7.2 million shares traded. Amylin Pharmaceuticals is a biopharmaceutical company dedicated to improving lives of patients through the discovery, development and commercialization of innovative medicines.
Cree, Inc. (NASDAQ: CREE) up 17.3% on 11.3 million shares traded. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting.
The Commerce Department said construction of new homes and apartments fell 4 percent in December to a seasonally adjusted annual rate of 557,000 from an upwardly revised 580,000 in November.
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