MagneTek, Inc. (NYSE: MAG) has been chosen as the current spotlight stock selection by Penny Stock Research Corporation. The article chronicles MagneTek's shift away from low-tech electrical products to a new focus on high-tech electronic products. Last year, MagneTek sold its generator business to Emerson Electric Company (NYSE: EMR) for $115 million. It followed that up by selling its motor manufacturing facilities to A. O. Smith Corporation (NYSE: AOS) for $253 million. The cash generated by this downsizing was used to pay down debt and fund a massive stock buyback program. MagneTek has emerged as a smaller company focused on electronic products, such as lighting power products, power electronic products and motor drives and systems. The company is growing through timely acquisitions as well as strategic alliances with companies such as General Electric Corporation (NYSE: GE). All of this has led to good results from MagneTek's core businesses in the first two quarters of this fiscal year. The full text of this story can be viewed on the Penny Stock Research Corporation web site at http://www.pennyresearch.com Penny Stock Research Corporation (P.S.R.C.) is an independent, electronic publisher that specializes in generating public awareness of small, publicly traded companies that provide unusual opportunities for investing. P.S.R.C. does this using our Internet web site at http://www.pennyresearch.com as well as targeted, opt-in email lists. P.S.R.C. is currently seeking an experienced, independent sales person with a proven track record to work on a commission basis selling our services to small, publicly traded companies. Please click on the "help wanted" link on our website for further information.DISCLAIMER: This is not an offer to buy or sell securities. Information or opinions are presented solely for informative purposes, and are not intended and should not be construed as investment advice. Analysis contained herein does not purport to be a complete study of the featured company or any other companies mentioned. Information used and statements of fact have been obtained from the featured companies and other sources, but neither guarantee nor representation is made as to completeness or accuracy. Such information is subject to change without notice.
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