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Stock Market & Financial Investment News

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April 28, 2014
08:37 EDTOTIVOTI PetroSmart awarded 15-year government ministry contract
OTI PetroSmart, a global Value Added Reseller of petroleum equipment products and a wholly owned subsidiary of On Track Innovations, has been awarded a major 15-year contract from a government ministry in Southern Africa for its EasyFuel Plus management system. OTI PetroSmart and its local operating partner will deploy the EasyFuel Plus ‘contactless’ solution to facilitate automated refueling at the ministry’s national network of more than 15 “home base” sites and a few thousand vehicles. The initial order is valued at $550K which will be recognized in 2014. Further expansion may be possible during the life span of the project. The scope of the project includes the supply of automatic tank gauging equipment, automatic vehicle identification, as well as various risk management systems.
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September 10, 2014
10:19 EDTOTIVOn Track, USA Technologies rise after Apple Pay seen as positive
Shares of On Track Innovations (OTIV) and USA Technologies (USAT) are moving higher after research firm Northland Capital predicted that both companies would benefit from the launch of Apple's (AAPL) mobile payment system which is based on NFC technology. On Track Innovations sells contactless/NFC readers, while USA Technologies provides products that facilitate electronic payment transactions. WHAT'S NEW: In a note to investors today, Northland Capital analyst Michael Latimore wrote that his discussions with vending operators indicate that Apple Pay will likely provide a major impetus to upgrade payment terminals, benefiting On Track Innovations and USA Technologies. On Track Innovations has gained share in the contactless/NFC reader market and now sells these readers to most of the vending operators in the U.S., Latimore stated. Accelerated adoption of contactless/NFC technology will help increase the number of contactless/NFC readers that are sold, the analyst believes. Meanwhile, US Technologies' cloud services revenue could accelerate as more vending operators deploy NFC readers, Latimore added. The analyst kept Outperform ratings on both stocks. PRICE ACTION: In early trading, On Track Innovations soared 42% to $4.70, while USA Technologies advanced 7% to $2.20. VeriFone (PAY), which sells point of sale electronic payment devices, gained 4% to $36.
09:26 EDTOTIVOn Track and USA Technologies to benefit from Apple Pay, says Northland
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September 9, 2014
13:50 EDTOTIVNXP Semiconductors turns positive after Apple confirms NFC in new iPhone
Shares of On Track Innovations (OTIV) are still negative but moving higher.
13:47 EDTOTIVNXP Semiconductors off lows as Apple unveils 'Apple Pay' service
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