The company received orders for its PocketFinder® Personal and Vehicle units. The order is expected to be completed by the end of this year and will generate $1.2 million in revenue for the company.

Dave Morse, CEO of Location Based Technologies, said last month that the purchase order establishes the company’s initial push into Latin American market and that the company is extremely excited about the opportunity that Mexico represents for it. Morse also said last month that the company believes there is tremendous need for its products and services in Mexico and South America, and partners like Grupo Paramuen will enable it to establish a major presence abroad.

Since the announcement of the major order last month, Location Based shares gained 17.95%. In the last three months the penny stock gained 413.97%. Year-to-date the stock is up 513.33%.

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The downward revision comes as Netflix expects more fallout from a price increase on its DVD service. The company said that it expects to have 24 million subscribers at the end of the third quarter, down from previous forecast of 25 million subscribers.

Earlier this month, Netflix implemented a price increase for customers who want DVDs by mail. The price increase resulted in fewer-than-expected customers opting to take the company’s DVD only subscription service. The company expects to have 2.2 million DVD only subscribers, down from prior forecast of 3 million. Netflix also lowered its streaming-only subscribers forecast from 22 million to 21.8 million.

It is quite clear that the decision to raise subscription rates for joint streaming and DVD rental service is hurting Netflix. Since the company announced plans to hike the rate back in July, Netflix shares fell almost 40%.

In a blog post, the company said that it knows the decision to split services has upset many subscribers, which the company does not take lightly, but it believes the split will help in making services better for subscribers and shareholders for years to come.

Apart from the loss of subscribers, the company is also facing increasing competition in the streaming market from rivals such as Amazon.com and Hulu. Also, the breakdown of contract renewal talks with Starz LLC is a major worry for the company. The contract with Starz expires in February 2012 and if the contract is not renewed, the company could lose some of its popular programming and movies. This could result in another possible hostile response from subscribers.

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At last check, Limelight Networks shares were trading 10.89% higher at $2.75, with volume up from daily average of 2.88 million to 3.80 million. The stock is up more than 28% in the last three trading sessions.

Limelight Networks will sell its EyeWonder rich media advertising unit to DG for approximately $66 million in cash. The sale is expected to be completed on September 1. The sale will allow Limelight to focus on continuing to grow and invest in its globally distributed computing platform and its fast growing software-as-a-service (SaaS) solutions.

Jeff Lunsford, chairman and CEO of Limelight, said that the company sees a bright future for its SaaS solutions, as it deepens its relationships with customers by streamlining their publishing workflow while providing the performance and operational benefits inherent in cloud applications.

As a result of the sale, Limelight also updated its third-quarter 2011 guidance. The company now expects third-quarter revenue to come in between $46.1 million and $47.3 million. The forecast includes EyeWonder revenue through August 31, 2011. Excluding EyeWonder, the company expects third-quarter revenue to come in between $41.5 million and $42.5 million.

Limelight also announced today that its board has authorized a $25 million share repurchase program. CEO Lunsford said that the board’s decision to implement this share repurchase program reflects its confidence in the growth opportunities ahead of its CDN and SaaS businesses.

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Exploration-stage Searchlight Minerals engages in a slag reprocessing project and the acquisition and exploration of mineral properties. Currently, its business is focused on two mineral projects: the Clarkdale Slag Project, located in Clarkdale, Arizona, which is a reclamation project to recover precious and base metals from the reprocessing of slag produced from the smelting of copper ore mined at the United Verde Copper Mine in Jerome, Arizona; and the Searchlight Gold Project, which involves exploration for precious metals on mining claims near Searchlight, Nevada.

To date, Searchlight Minerals has not earned any revenues from its planned mineral operations.  The company reported its net loss at $1.03 million for the quarter ended June 30, 2011, compared to net loss of $1.27 million in the year-ago period.

It stated that it does not anticipate earning revenues from its planned mineral operations until such time as it enters into commercial production of the Clarkdale Slag Project, the Searchlight Gold Project or other mineral properties it may acquire from time to time, and of which there are no assurances.

In its 10-Q filing, the company reported that an internationally recognized independent laboratory has been testing its slag material in an effort to independently evaluate its internal processing methods and autoclave results. If the results from these tests prove successful, the company plans to perform larger, continuous pilot bulk tests in a larger multi-compartment autoclave as part of the feasibility study process. This type of scale-up in testing is typical in the mining industry, the company noted.

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The company said production at BRCM since July 13 totaled around 9,600 tons or around 6,500 yards of gravels. The company produced around 30 ounces of gold from the stockpile gravels; the stockpile had an overall gold grade of 0.2 grams of gold per cubic yard.

Pacific Gold also announced that its plant is now operating more efficiently and that moving forward BRCM is planning to mine and screen 120,000 cubic yards between now and the end of 2011.

Rob Landau, CEO of Pacific Gold, is pleased with the progress made by the company over the past six months and said that the company is now ready for consistent production and plans to work diligently to convert itself from a company developing a mining operation into a company operating profitably.

Despite the update and the positive comments from CEO Landau, Pacific Gold shares have fallen sharply this week. The stock fell 4.2% on Monday. However, the stock’s performance in the last three months has been impressive, gaining more than 240%.

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During the second quarter of 2011, the wireless devices handled by the company jumped 21% on a year-over-year basis to 26.9 million.

Brightpoint reported second-quarter income from continuing operations were $11.8 million, or $0.18 per share, compared with $7.3 million, or $0.10 per share, reported in the second quarter of 2010. The company’s adjusted income from continuing operations for the second quarter of 2011 was $16.3 million, or $0.23 per share, compared with $12 million, or $0.16 per share, reported in the second quarter of 2010.

For fiscal year 2011, the company expects to handle between 111 million and 114 million wireless devices, including tablets. This is in-line with the company’s previous guidance range. The company expects 2011 income from continuing operations of $0.64-$0.74 per share. Adjusted income from continuing operations is expected to come in between $0.95 per share and $1.05 per share.

Brightpoint shares are down 11.66% since reporting its second-quarter financial results. In the last three months the stock is down 11.37%. Year-to-date the stock is down 10.38%.

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RIM announced that it will launch 5 new smartphones built on its new BlackBerry 7 operating system. The company is rolling out 2 new BlackBerry Bold models and three new BlackBerry Torch models. The launch of the new smartphones will be the company’s largest ever. RIM said that over 225 carriers and distribution partners have already started or completed more than 500 certification programs for the 5 new handsets.

Mike Lazaridis, president and Co-CEO of RIM, said that the BlackBerry solution offers a best-in-class mobile communications experience that customers love and the company thinks they will be thrilled by the faster performance, enhanced browsing and richer multimedia delivered by the powerful new BlackBerry Bold and BlackBerry Torch smartphones.

The launch of new smartphones comes when RIM is struggling to keep pace with the likes of the iPhone and the Android-based smartphones. The company’s recent quarterly results were adversely impacted by the increasing competition and delay in product launches. Although the launch of new smartphones gave investors some hope, analysts did not sound very excited.

According to JMP Securities analyst, Alex Gauna, RIM does not have the first-mover advantage. Rodman & Renshaw analyst Blaine Carroll echoed Gauna saying that the company is late in launching the new smartphones. Michael Genovese of MKM Partners, meanwhile, said that the new Bolds and Torches with incrementally enhanced browsers are not likely to turn the ship around for RIM.

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Global Traffic Network Inc. (NASDAQ: GNET) shares are seeing a huge rally in today’s trading after the company agreed to be acquired by an affiliate of private equity firm GTCR LLC. At last check, Global Traffic shares were trading 19.71% higher at $13.97, with volume up from daily average of 142,259 to 4.28 million.

Global Traffic, which provides custom traffic and news reports to radio and television stations outside the U.S., entered into a definitive merger agreement with an affiliate of GTCR under which the company will be acquired for $14 per share in cash. The $14 per share offer price represents a premium of 20% over the stock’s closing price on Tuesday.

Global Traffic has the right to solicit competing bids during a period expiring September 13, 2011. The merger agreement with GTCR has been approved by the board of directors of Global Traffic, and is expected to be completed by the fourth quarter of this year.

William L. Yde III, chairman of the board, president and CEO of Global Traffic, said that the company believes the sale price of $14 per share represents compelling value for its shareholders. Yde said that the offer price is at a significant premium over the current trading price. The offer represents an all-time high for the stock and represents an almost 200% increase from the stock’s IPO offering of $5 in March 2006.

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Applied Oil Technology, which is being developed with Temple University, offers efficient and cost-effective means of improving the efficacy of crude oil transport and diesel engine efficiency to help on meeting increasing worldwide energy demand and emission quality products.

Cecil Bond Kyte, CEO of STWA, said that with testing at the Rocky Mountain Oilfield Testing Center underway and preliminary results forthcoming, the company feels that it is ready to start discussions with marketing and development partners who can help it bring the technology into commercial production and distribution.

Commenting on the company’s existing relationship with Pipeline Research Council International (PRCI), Kyte said that the relationship helped the company in identifying interested potential partners.

STWA shares are down sharply in today’s trading. The stock is currently trading 11.07% lower at $0.240 on above average volume of 1.01 million. In the last three months the penny stock fell 35.11%. Year-to-date the stock fell 46.64%.

STWA is a development stage green technology company.

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The company will release its second-quarter financial results in early August, with preliminary second-quarter financial results pointing to net revenue around $12 million, representing an increase of 104% over the same period in the previous year.

Biolase recently began taking orders for its new BIOLASE DaVinci Imaging™ dental imaging devices, with delivery estimated in the third quarter. The imaging products range between $3,000 and a cool $125,000, and Biolase expects the imaging division to be a significant contributor to the company’s revenue growth and profitability moving forward. To fulfill these expectations, the company has ramped up its sales force in the last six months as it takes advantage of its introduction into a new market.

” The dental digital imaging capital equipment market is a perfect complement to our laser devices and is the next logical step in offering a Total Technology Solution™. It allows us to leverage our established customer base of approximately 8,000 dental practices in the U.S. and 3,000 worldwide and the recognition of the BIOLASE brand that has become synonymous with high tech dentistry over the years,” company chairman and CEO Federico Pignatelli stated in yesterday’s press release. “ BIOLASE now commands an approximate 80% brand recognition among U.S. and Canada dental offices. We have been working to develop and implement a commercial plan that takes advantage of our core competencies and highlights the talents of our growing sales force that includes some of the top dental equipment sales professionals, while expanding our market coverage into key dental specialties including oral and maxillofacial surgery. We are now the only company to offer a complete product line of cutting edge dental lasers and digital imaging products.”

Shares slipped nearly 3%  in today’s late morning trade, curtailing from a brief spike yesterday afternoon.

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