Street.com news after the bell ...
thestreet.com
Investors had SECX on their minds this evening.
More specifically, they had SED International (SECX:Nasdaq - news - boards) dancing in their thoughts. It was unchanged at 3 11/32 1.3 million shares, good enough for the No. 2 spot on Island's most-active list. SED eased as the night wore on, trading gains of more than a point for a break-even finish.
Earlier today, the company announced a distribution agreement with BellSouth Cellular, a subsidary of BellSouth (BLS:NYSE - news - boards). Per the terms of the deal, SED will handle BellSouth Cellular's online commerce, warehousing its product, processing orders and sending them to third-party agents and resellers. These services, as provided by SED, will be made available via the Internet and authorized BellSouth agents.
In a press release from earlier today, CEO Mark Diamond said the deal would help SED, a wholesaler of microcomputers and other computer peripherals, expand into other areas of technology sales.
"The prepaid wireless solution from BellSouth will be instrumental in forging relationships with retailers outside of the traditional wireless model and market," Diamond said. "And more importantly, this product offering allows our computer resellers in 360 southeast cities to enter the wireless market with little to no investment while expanding their business."
News of the deal sent SED up 15/16, or 45.5%, to 3 on 1.8 million shares during the day session. That's quite a heavy volume for the company, which has a $21 million market cap. 1999's average daily volume was 43,000.
:-)
Gary |
