Hovnanian Enterprises Inc. (NYSE: HOV) saw its stock rise 5.43% closing Thursday at $3.88 on above-average volume of 3.66 million shares. The New Jersey-based homebuilding company reported a narrowed Q3 loss of $72.9 million, compared with $148 million in the year-ago period. (NYSE:HOV), (HOV)

Saks Inc. (NYSE: SKS) gained by 10.78% and closed at $8.22 on 12.90 million shares, over two times its average volume. Shares of the luxury retailer were recently cut to Neutral at J.P. Morgan. (NYSE:SKS), (SKS)

Pier 1 Imports Inc. (NYSE: PIR) traded higher after it announced that its same-store sales rose 11.2% in August, and forecast Q2 earnings above analysts’ average estimate. Shares of the home-goods retailer jumped 16.67% and closed at $7.65 on strong volume of 8.51 million shares. (NYSE:PIR), (PIR)

Toll Brothers Inc. (NYSE: TOL) edged up by 1.59% and closed at $17.93 on above-average volume of 3.04 million shares. The Horsham, Pennsylvania-based luxury home building company swung to a Q3 profit of $27.3 million, reversing the year-ago quarter’s loss of $472.3 million. (NYSE:TOL), (TOL)

Burger King Holdings Inc. (NYSE: BKC) soared amid news that it will be acquired by 3G Capital. Shares of the Miami-based burger chain shot up by 25.08% and closed at $23.59 on over 43 million shares. (NYSE:BKC), (BKC)

FuelCell Energy Inc. (NASDAQ: FCEL) fell by 5.17% and closed at $1.10 with overall traded volume of 1.25 million shares. The Danbury-based renewable energy company posted Q3 loss of 15 cents per share, which was wider than analysts’ estimates, as revenue dropped 17% to $18.9 million. (NASDAQ:FCEL), (FCEL)

Northrop Grumman Corp. (NYSE: NOC) inched up by 1.94% and closed at $57.67 on volume of 2.33 million shares. So far the stock has reached a 52-week low of $47.47 and a 52-week high of $69.80. The California-based aerospace and defense products provider is serving as a presenting sponsor at 2010 United States Air Force Marathon. (NYSE:NOC), (NOC)

Zumiez Inc. (NASDAQ: ZUMZ) edged up by 5.06% and closed at $16.81 on above-average volume of over 417K shares. Shares of the Everett, Washington-based specialty apparel retailer were upgraded at Caris. (NASDAQ:ZUMZ), (ZUMZ)

Abercrombie & Fitch Co. (NYSE: ANF) fell by 3.88% and closed at $5.16 on above-average volume of 9.85 million shares. The New Albany, Ohio-based clothing retailer reported a 6% increase in its August same-store sales. (NYSE:ANF), (ANF)

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) moved up by 12.79% and closed at $4.41 on over three times its average volume. The Macau-based casino and resort company was upgraded to Overweight at Morgan Stanley. (NASDAQ:MPEL), (MPEL)

UAL Corp. (NASDAQ: UAUA) edged up by 1.64% and closed at $22.29 on 4.39 million shares. The stock has a 52-week range of $5.43 – $25.00. (NASDAQ:UAUA)(NASDAQ:UAUA)

Aspen Technology Inc. (NASDAQ: AZPN) slid by 4.57% and closed at $9.60 on over nine times its average trading volume. Aspen Technology, a provider of software and services to the process industries, posted Q4 loss of 37 cents a share, missing analysts’ loss view of 22 cents a share. Revenue for the quarter was $38.2 million, versus estimate of $44.81 million. (NASDAQ:AZPN)(NASDAQ:AZPN)

Tyson Foods Inc. (NYSE: TSN) declined by 3.32% and closed at $16.04, on above-average volume of 10.52 million shares. Moody’s has lifted the meat processing giant’s corporate family and probability of default ratings to Ba2 from Ba3. (NYSE:TSN)(NYSE:TSN)

China Green Agriculture Inc. (NYSE: CGA) slid by 5.88% and closed at $9.60 on nearly twice its average trading volume. The fertilizer company posted Q4 profit that topped analysts’ estimates, as revenue jumped 55% to $16.2 million, but disappointed with its Q1 profit forecast. (NYSE:CGA)(NYSE:CGA)

Jack in the Box Inc. (NASDAQ: JACK) rose by 5.03% and closed at $22.15 on 1.47 million shares amid news of Burger King (NYSE:BKC) takeover. (NASDAQ:JACK), (JACK)

• Want more? Check out the message board buzz for these stocks

• See what newsletters are recommending these stocks here

• Get breaking news alerts on these stocks: http://thestockmarketwatch.com/

About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or “penny stock” market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Shares of The Dixie Group Inc. (NASDAQ: DXYN) are up 5.42% to $3.50 in after-hours trading today. Earlier in regular trading, the stock closed at $3.32, unchanged from previous trading session’s closing price on above average volume of 25,801. The penny stock has a 52-week range of $2.21-$5.20. It is currently trading below its 50-day and 200-day moving averages. The penny stock has a support level at $3.17 and a resistance level at $3.47.

Shares of H&R Block Inc. (NYSE: HRB) are up 4.22% to $13.10 in after-hours trading today. Earlier in regular trading, the stock closed 2.86% lower at $12.57, with volume up from daily average of 4.44 million to 13.93 million. The stock has a 52-week range of $12.51-$23.23. It is currently trading below its 50-day and 200-day moving averages. The stock has a support level at $12.83 and a resistance level at $13.28. H&R Block, today, reported its first-quarter financial results, posting a net loss of $131 million.

• Want more? Check out the message board buzz for FNSR, DXYN, HRB
• See what newsletters are recommending this stock here
• Get breaking news alerts on this stock: http://thestockmarketwatch.com/

]]> http://www.beaconequity.com/3-hot-movers-after-the-bell-2010-09-02/feed/ 1 http://www.beaconequity.com/dont-miss-this-fannie-mae-fnma-to-get-tough-on-mortgage-servicers-2010-09-02/ http://www.beaconequity.com/dont-miss-this-fannie-mae-fnma-to-get-tough-on-mortgage-servicers-2010-09-02/#comments Thu, 02 Sep 2010 19:36:23 +0000 grenade http://www.beaconequity.com/?p=14060 Mortgage giant Fannie Mae (OTC: FNMA) today announced that it will demand compensation from mortgage servicing companies that do not handle problem mortgage loans properly. Fannie also said that it may start reviewing loan files, processes and procedures used by mortgage servicing companies.

The announcement from Fannie shows that it getting impatient with the companies engaged in the collection and distribution of homeowners’ payments. Mortgage servicers are coming under heavy criticism for the way they handled record delinquencies and foreclosures.

It may be recalled that Fannie Mae was on the verge of collapse in 2008, after suffering losses related to subprime mortgages. Since then, the company has come under government control. However, the mortgage giant is still struggling to get back on its feet. The role of Fannie and Freddie Mac (OTC: FMCC) has been questioned by Ben Bernanke, the Chairman of the Federal Reserve. A few weeks ago, Bernanke said that the mortgage market could function without Fannie and Freddie.

In another development, the Federal Housing Finance Agency, Fannie Mae’s regulator, lowered its goals for both Fannie and Freddie to buy loans for some low-income properties. The regulator said that under the new requirement, at least 21% of its single-family loan purchases have to be for low-income properties. The agency earlier proposed 25% of its single-family loan purchases to be for low-income properties. The agency also lowered low-income and very low-income goals for multi-family properties.

With Fannie’s role in the mortgage market now being questions, its penny stock has taken a beating. The stock has been trading in the penny region since 2008, after the company came under government control. On July 8, 2010, the penny stock was delisted from the New York Stock Exchange (NYSE) after failing to comply with the exchange’s minimum requirement. Since then, the penny stock traded over-the-counter.

The penny stock of Fannie Mae has a 52-week range of $0.19-$1.86. The stock is currently trading below its 50-day and 200-day moving averages. The stock has a support level at $0.31 and a resistance level at $0.33. In the last one month, the penny stock gained 2.61%.

• Want more? Check out the message board buzz for FNMA
• See what newsletters are recommending this stock here
• Get breaking news alerts on this stock: http://thestockmarketwatch.com/

]]> http://www.beaconequity.com/dont-miss-this-fannie-mae-fnma-to-get-tough-on-mortgage-servicers-2010-09-02/feed/ 1 http://www.beaconequity.com/penny-stock-spotlight-freddie-macs-take-on-mortgage-rates-2010-09-02/ http://www.beaconequity.com/penny-stock-spotlight-freddie-macs-take-on-mortgage-rates-2010-09-02/#comments Thu, 02 Sep 2010 19:27:43 +0000 stockslanga http://www.beaconequity.com/?p=14058 Freddie Mac (OTCBB: FMCC) today said that U.S. mortgage rates dropped to a record low in the past week. The drop in mortgage rates came after a fall in yields on government debt. The drop in mortgage rates is a good sign for the housing market, which is struggling to recover from the collapse in 2007.

According to a survey released by Freddie Mac today, interest rates on U.S. 30-year fixed rate mortgages averaged 4.32% for the week ended September 2. This is lower than last week’s rate of 4.36% and year-ago rate of 5.08%. Also, 15-year mortgage rates were down from 3.86% to 3.83%.

The drop in the mortgage rates is good news for the housing market, which saw a drop in home sales in recent months.

The collapse in the housing market in 2007 led to the huge losses at Freddie Mac. Freddie Mac was set up to facilitate lending in the mortgage markets so that more and more people could buy their own homes. The company bought mortgages from originators, repackaged them as fixed income securities and sold it to investors, enabling originators to free up capital on their balance sheet and lend more. The system worked fine until problems began to surface in the subprime mortgage market. Finally when the housing bubble burst in 2007, Freddie found difficult to survive on its own.

In 2008, Freddie Mac and Fannie Mae (OTC: FNMA) were taken under government control. Freddie struggled ever since and is still under the government control. The future of Freddie is largely in the hands of the government, which has to decide whether the mortgage market still requires the services of Freddie and Fannie.

The penny stock of Freddie Mac now trades over-the-counter, after being asked to delist from the New York Stock Exchange (NYSE). The Freddie Mac stock was delisted on July 8, 2010.

The penny stock of Freddie Mac has a 52-week range of $0.24-$2.15. The stock is currently trading below its 50-day and 200-day moving averages. The stock has a support level at $0.32 and a resistance level at $0.34.

• Want more? Check out the message board buzz for FMCC
• See what newsletters are recommending this stock here
• Get breaking news alerts on this stock: http://thestockmarketwatch.com/

]]> http://www.beaconequity.com/penny-stock-spotlight-freddie-macs-take-on-mortgage-rates-2010-09-02/feed/ 0 http://www.beaconequity.com/3-stocks-gaining-green-in-mid-day-trading-2010-09-02/ http://www.beaconequity.com/3-stocks-gaining-green-in-mid-day-trading-2010-09-02/#comments Thu, 02 Sep 2010 19:23:55 +0000 BeaconEquity.com http://www.beaconequity.com/?p=14056 Shares of Sycamore Networks Inc. (NASDAQ: SCMR) are seeing a huge rally in today’s trading. The stock reached a high of $27.42 in mid-day trading, and at last check, it was up 22.46% to $27.21, with volume up from 294,000 to 1.93 million. The stock has a 52-week range of $16.18-$32.60. It is currently trading above its 50-day and 200-day moving averages. The stock has a support level at $21.63. It broke through its resistance level of $22.94 in today’s trading. Sycamore Networks Inc. reported its fourth-quarter and fiscal year 2010 financial results. The company reported fourth-quarter revenue of $22.2 million.

Shares of Harry Winston Diamond Corp. (NYSE: HWD) are climbing in today’s trading. The stock reached a high of $12.40 in mid-day trading, and at last check, it was up 18.13% to $12.12, with volume up from daily average of 151,000 to 826,134. The stock has a 52-week range of $5.84-$14.57. It is currently trading below its 50-day and above its 200-day moving average. The stock has a support level at $10.10. It broke through its resistance level of $10.95 in today’s trading. Harry Winston Diamond Corporation reported its second-quarter financial results, posting 62% increase in consolidated sales.

Shares of Pier 1 Imports Inc. (NYSE: PIR) are soaring in today’s trading. The stock reached a high of $7.52 in mid-day trading, and at last check, it was up 14.83% to $7.51, with volume up from daily average of 2.47 million to 5.06 million. The stock has a 52-week range of $2.45-$9.81. It is currently trading above its 50-day and 200-day moving averages. The stock has a support level at $6.13. It broke through its resistance level of $6.65 in today’s trading. Pier 1 Imports Inc. reported that its second-quarter comparable store sales grew 11.2%.

• Want more? Check out the message board buzz for SCMR, HWD, PIR
• See what newsletters are recommending this stock here
• Get breaking news alerts on this stock: http://thestockmarketwatch.com/

]]> http://www.beaconequity.com/3-stocks-gaining-green-in-mid-day-trading-2010-09-02/feed/ 0 http://www.beaconequity.com/9-ways-to-play-the-penny-stock-field-2010-09-02/ http://www.beaconequity.com/9-ways-to-play-the-penny-stock-field-2010-09-02/#comments Thu, 02 Sep 2010 19:02:14 +0000 BeaconEquity.com http://www.beaconequity.com/?p=14051 Camelot Entertainment Group Inc. (OTC: CMGR) is surging after announcing that it has signed a deal with ABC Family for its animated classic PUFF THE MAGIC DRAGON. At last check, the stock was up 4,515.4% to $0.120 on over 57 times its average volume. Camelot Entertainment Group is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. (OTC:CMGR), (CMGR)

EcoSystem Corp. (OTC: ESYR) is up 575.00% to $0.0027 on over 25 times its average volume. EcoSystem, a clean technology development company, focuses on developing innovations designed to resolve compelling ecological challenges while producing value added carbon neutral and negative products. (OTC:ESYR), (ESYR)

Strikeforce Technologies Inc. (OTC: SFOR) is up 17.65% to $0.0020 on above-average volume of over 620K shares. StrikeForce Technologies manufactures security products which help prevent “online” identity theft. Its products help protect consumers and their families when banking, shopping and emailing on the Internet. (OTC:SFOR), (SFOR)

International Aerospace Enterprises Inc. (OTC: IAROE) is up 50.00% to $0.0003 on volume of 5.10 million shares. International Aerospace Enterprises specializes in the sales and marketing of military aircraft spare parts on a worldwide basis. (OTC:IAROE), (IAROE)

Sunovia Energy Technologies Inc. (OTC: SUNV) is up 8.89% to $0.0490 on over 644K shares. The Sarasota, Florida-based clean-tech company on Wednesday announced a major increase in sales force, thanks to its recently implemented sales and marketing plan. Sunovia Energy Technologies develops and markets products within the LED lighting and solar markets that reduce carbon emissions, promote national security and preserve the environment. (OTC:SUNV), (SUNV)

Ad Systems Communications Inc. (PINK: ADSY) is down 0.33% to $0.0300 on over 477K shares. Ad Systems Communications is a leading service provider of digital media and video communications for all major cable TV network. The company recently opened its Salt Lake City, Utah sales office. (PINK:ADSY), (ADSY)

Paid Inc. (OTC: PAYD) is up 6.67% to $0.240 on over 426K shares. PAID is a one-stop brand management and marketing resource for music, entertainment and sports personalities and organizations, and offers AuctionInc(TM) online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. The company’s AuctionInc has recently implemented major enhancements to further reduce ecommerce shipping costs. (OTC:PAYD), (PAYD)

QSGI Inc. (PINK: QSGIQ) is down 4.41% to $0.0650 on over 10 times its average volume. QSGI provides information technology services to help corporations better manage IT assets, data center maintenance expenses, and ensure best practices for data security and regulatory compliance. (PINK:QSGIQ), (QSGIQ)

General Metals Corp. (OTC: GNMT) is up 6.67% to $0.0400 on over 185K shares. Reno, Nevada-based General Metal is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District of Nevada. (OTC:GNMT), (GNMT)

Want more? Check out the message board buzz for these stocks

See what newsletters are recommending these stocks here

Get breaking news alerts on these stocks: http://thestockmarketwatch.com/

About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or penny stock market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Baidu also started its new service for e-books, adding about 500 applications to its Web site. This initiative is the part of the company’s strategy to diversify beyond Internet search. The new initiative will allow the users to store and read electronic books on the Web site. Baidu now offers new gaming applications, including the ones from PopCap Games Inc., making Baidu one of the prominent Web sites in China, catering to more than 75% of China’s online searches.

Baidu is also planning to develop its “box computing” service. This service will link the provision of content including video game, entertainment and books. The company declined to share the new services’ contribution towards the company revenue. Baidu is also said to be in talks with several companies for the merger and acquisition purpose. Most of these companies are Chinese. The company also launched a new platform which will help developers in distributing their application. This distribution will be carried out via a browser.

Baidu’s ADRs have a 52-week price range of $81.62-$83.40. The ADRs are trading at P/E of 87.76 and its EV/Revenue is 32.67. Baidu’s market cap is $28.82 billion. The ADRs have a 50-day moving average of $80.26 and a 200-day moving average of $68.80. The company’s operating margin is 43.25% and its Price/Book ratio is 31.66. Baidu is earning 45.27% return on its equity and its operating margin is 43.25%. The company’s Book value per share is $2.59 and its current ratio is 3.78.

• Want more? Check out the message board buzz for BIDU
• See what newsletters are recommending this stock here
• Get breaking news alerts on this stock: http://thestockmarketwatch.com/

]]> http://www.beaconequity.com/one-to-watch-chinese-hot-stock-launches-e-book-service-2010-09-02/feed/ 0 http://www.beaconequity.com/todays-top-9-trading-ideas-2010-09-02/ http://www.beaconequity.com/todays-top-9-trading-ideas-2010-09-02/#comments Thu, 02 Sep 2010 18:48:16 +0000 BeaconEquity.com http://www.beaconequity.com/?p=14043

Sycamore Networks Inc. (NASDAQ: SCMR) is soaring on better-than-expected Q4 results. The communications equipment maker posted adjusted earnings of 5 cents per share, compared with analysts’ view of a loss of 9 cents a share, while revenue climbed 29% to $22.2 million. At last check, the stock was up by 22.05% at $27.12 on nearly six times the average volume. (NASDAQ:SCMR), (SCMR)

Rexahn Pharmaceuticals Inc. (AMEX: RNN) is up 6.61% to $1.29 on nearly eight times its average volume. The company announced the publication of a research article in Bioorganic & Medicinal Chemistry Letters on the anti-tumor activity of RX-8243 and its analogues. (AMEX:RNN), (RNN)

Harry Winston Diamond Corp. (USA) (NYSE: HWD) is up following its strong Q2 results. Scotia Capital has upgraded shares of the Canadian diamond producer to Sector Perform. Shares are up by 19.30% at $12.24 on above-average volume of over 745K shares. (NYSE:HWD), (HWD)

3PAR Inc. (NYSE: PAR) shares get a boost after Hewlett-Packard Co. (NYSE: HPQ) raised its bid to $33 per share, topping Dell’s (NASDAQ: DELL) $32. Shares are up by 2.37% at $32.84 on over four times the average trading volume. (NYSE:PAR), (PAR)

UTi Worldwide Inc. (NASDAQ: UTIW) is on the move after it reported Q2 earnings that beat estimates. But the California-based logistics company expects volume growth to moderate on the back of a slowing economy. Shares are up by 5.16% to $15.08 on over 577K shares. (NASDAQ:UTIW), (UTIW)

Research In Motion Limited (USA) (NASDAQ: RIMM) is up 0.82% to $44.49 on 5.06 million shares, despite a recent downgrade from JMP Securities. (NASDAQ:RIMM), (RIMM)

Pier 1 Imports, Inc. (NYSE: PIR) is higher after reporting an 11.2% increase in comparable store sales in the Q2. The company expects Q2 earnings between 10 and 12 cents per share, topping analysts’ view of 8 cents a share. Shares are up by 14.53% at $7.49 on above-average volume of 4.49 million shares. (NYSE:PIR), (PIR)

Nordstrom Inc. (NYSE: JWN) shares rise on strong August same-store sales. Shares are up by 6.04% at $32.15 on 3.76 million shares. (NYSE:JWN), (JWN)

Martek Biosciences Corp. (NASDAQ: MATK) is falling despite strong earnings report. The Columbia-based health and nutritional supplements maker on Wednesday posted a 33% rise in its Q3 profit, thanks to Amerifit Brands acquisition and stronger nutritional ingredient sales. Shares are down by 4.66% at $21.36 on over 328K shares. (NASDAQ:MATK), (MATK)

• Want more? Check out the message board buzz for these stocks

• See what newsletters are recommending these stocks here

• Get breaking news alerts on these stocks: http://thestockmarketwatch.com/

About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or “penny stock” market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Camelot Entertainment Group, Inc. seems to be making today’s big jump due to a deal that they just announced with ABC Family in regards to Puff the Magic Dragon.  ABC Family has the rights to Puff the Magic Dragon and is planning to broadcast the movie during December of this year.

ABOUT CAMELOT ENTERTAINMENT

Camelot Entertainment Group, Inc. (www.camelotent.com) is a US publicly traded company (OTC.BB:CMGR) with four divisions: Camelot Film Group, Camelot Distribution and DarKnight Pictures, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. Camelot is a member of the Independent Film & Television Alliance (IFTA).

The current average rate for a 30-year fixed mortgage is 4.32%, down 4 basis points from last week’s rate of 4.36%, according to a statement released by Freddie Mac (OTCBB: FMCC) who tracks this data. This has once again topped the lists as the lowest mortgage rate since Freddie Mac began tracking rate data in 1971. In addition the less used but equally inexpensive rate for a 15-year mortgage was 3.83% from 3.86% also a new record.

Although these rates are at all-time lows, they have not boosted home sales nor increased the amount of new homes being built or new home permits being applied for. The housing industry, which is seeing its what could be its unprecedented worst consecutive years ever, has been ganged up on by increases in unemployment and the end of the federal homebuyer tax credit, which offered an $8,000 tax incentive for purchasing a home. Sales of new and previously owned homes fell to record low levels in July, as noted in several of the most recent reports by the National Association of Realtors. Also helping the slide is the investment community’s uncertainty about the economy and the subsequent move to the safety of Treasuries.

The number of contracts to purchase previously owned houses rose in July unexpectedly, showing a possible sign that the housing market may be on its way to a more stable future. However, contracts to buy homes are not a final sale and in this market often fall though due to the amount of short sales and foreclosures that either don’t meet buyers expectations, or from banks taking to long to move on the offers.

Applications for mortgages have increased by 2.8% in July and August as people who already own homes look to refinance and lower their payments. The decline in rates has spurred a surge of refinancing as Americans seek to reduce payments.

• Want more? Check out the message board buzz for FMCC
• See what newsletters are recommending this stock here
• Get breaking news alerts on this stock:  http://thestockmarketwatch.com/