Market Edge

Tuesday, July 31, 2007


Jul. 31, 2007 (M2 Communications Ltd. delivered by Newstex) --

Philadelphia, PA - Bullish Alerts is currently monitoring the following Stocks: SIRIUS Satellite Radio (Nasdaq: SIRI), Novavax, Inc. (Nasdaq: NVAX), ON Semiconductor Corporation (Nasdaq: ONNN) and Cambridge Display Technology (Nasdaq: OLED)

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SIRIUS Satellite Radio (Nasdaq: SIRI) is currently trading at 3.09 per share up 4.04% on 25,827,282 volume while 9,726 trades have been placed. On Tuesday July 31st SIRIUS Satellite Radio announced strong second quarter results, including a 51% increase in revenue from the year ago quarter to $226.4 million, and strong subscriber growth of 561,493 new subscribers during the quarter driving ending subscribers to over 7.1 million. SIRIUS, once again, posted solid results,' said Mel Karmazin, CEO of SIRIUS. 'Both revenue and subscriber growth exceeded 50% while operating expenses before stock-based compensation and depreciation grew only 6%. Customer satisfaction remains high, reflected in our low all-in churn rate of 2.1%. We have added over 1.1 million net new subscribers so far this year, and second quarter results mark the seventh consecutive quarter for leadership in satellite radio net additions and the third consecutive quarter of leadership in gross subscriber additions.' 'Momentum for the pending merger with XM continues to build,' said Karmazin. 'Support from our customers, suppliers and other groups representing a diverse cross-section of Americans, clearly demonstrates the public interest benefits and enhanced competition that will come from the merger. We continue to work with the FCC and the DOJ to make the case that the merger offers more choices, including a la carte offerings, and lower prices for subscribers, and we continue to expect that the merger will be completed by year-end.'

SIRIUS, 'The Best Radio on Radio,' delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NASCAR and NBA, and broadcasts live play-by-play games of the NFL and NBA, as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95.

Novavax, Inc. (Nasdaq: NVAX) is currently trading at 2.88 per share up 5.11% on 283,918 volume while 781 trades have been placed. On Tuesday July 31st Novavax, Inc. announced that it has begun vaccinating healthy volunteers in the first human clinical trial of its virus-like particle ('VLP') based pandemic influenza vaccine. The Phase I/IIa randomized, placebo-controlled clinical trial will evaluate the safety and immunogenicity of different doses of the H5N1 clade 2 VLP influenza vaccine in up to 230 healthy adults. The goals of the study are to demonstrate safety and to select a dose for evaluation in a Phase IIb immunogenicity study. The first subject was enrolled at Healthcare Discoveries in San Antonio, Texas, one of two U.S. clinical sites participating in the study. Novavax is developing vaccines to treat influenza and other viral diseases based upon VLP technology. The technology creates vaccine particles in cell culture that mimic the three-dimensional structure of the virus, but do not contain genetic material and cannot replicate. The flu VLPs are designed to have a favorable safety profile and potentially be more immunogenic than current pandemic vaccines, without the use of an adjuvant. Recent preclinical studies have supported this hypothesis by showing that Novavax's influenza VLPs induced a robust immune response.

Novavax, Inc. is committed to leading the global fight against infectious disease by creating novel, highly potent vaccines that are safer and more effective than current preventative options. Using the company's proprietary virus-like particle (VLP) and Novasome adjuvant technologies, Novavax is developing vaccines to protect against H5N1 pandemic influenza, seasonal influenza, and other viral diseases. Novavax's particulate vaccines closely match disease-causing viruses while lacking the genetic material to cause disease, which provides potential for greater immune protection at lower doses than current vaccines. With an exclusive portable manufacturing system that allows for rapid mass-production of vaccines, Novavax is uniquely positioned to meet public health needs.

ON Semiconductor Corporation (Nasdaq: ONNN) is currently trading at 12.20 per share up 10.90% on 9,494,884 volume while 22,354 trades have been placed. On Tuesday July 31st ON Semiconductor Corporation announced that total revenues in the second quarter of 2007 were $381.2 million, an increase of approximately 2 percent from the first quarter of 2007. Total revenues during the second quarter included approximately $355.8 million of product revenues and approximately $25.4 million of manufacturing services revenues. During the second quarter of 2007, the company reported net income of $63.3 million, or $0.21 per share on a fully diluted basis. Second quarter 2007 results include approximately $3.5 million associated with stock-based compensation expense. During the first quarter of 2007, the company reported net income of $54.0 million, or $0.18 per share on a fully diluted basis. First quarter 2007 results included approximately $3.3 million associated with stock-based compensation expense. On a mix-adjusted basis, average selling prices in the second quarter of 2007 were down approximately two to three percent from the first quarter of 2007. The company's total gross margin in the second quarter was 38.3 percent, an increase of approximately 180 basis points as compared to the first quarter of 2007, primarily due to the sale of obsolete leaded parts which helped margins by approximately 100 basis points and improved product mix. Gross margins for product revenue were 41.5 percent, or an increase of approximately 160 basis points, during the second quarter of 2007 compared to 39.9 percent during the first quarter of 2007.

With its global logistics network and strong portfolio of power semiconductor devices, ON Semiconductor is a preferred supplier of power solutions to engineers, purchasing professionals, distributors and contract manufacturers in the computer, cell phone, portable devices, automotive and industrial markets.

Cambridge Display Technology (Nasdaq: OLED) is currently trading at 11.56 per share up 87.34% on 614,948 volume while 1,012 trades have been placed. On Tuesday July 31st Sumitomo Chemical Company (Sumitomo Chemical) and Cambridge Display Technology (CDT) today jointly announced that they have entered into a definitive merger agreement whereby Sumitomo Chemical will acquire CDT, a developer of technologies based on polymer organic light emitting diodes (P-OLEDs). Under the merger agreement, Sumitomo Chemical will acquire all outstanding shares of CDT common stock at a price of $12 per share in cash, for an aggregate purchase price of approximately $285 million. The merger consideration represents a 107 percent premium over CDT's 90-day average closing share price and a 95 percent premium over CDT's closing share price of $6.15 on July 30.

Cambridge Display Technology, Inc., through its subsidiaries, engages in the development and commercialization of polymer organic light emitting diodes (P-OLEDs) for use in flat panel displays and other applications. P-OLEDs are part of the family of organic light emitting diodes, which are thin, lightweight, and power devices that emit light when an electric current flows. This technology is used in mobile phones, MP3 players, and medical equipment. The company licenses its P-OLED and related technologies to P-OLED materials manufacturers and display manufacturers.

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