Equities were mixed in trading Thursday as investors remained cautious ahead of the all-important non-farm payrolls data. The U.S. Labor Department is scheduled to release the jobs report for the month of September on Friday.
A strong jobs report will raise the possibility of a rate hike by the Federal Reserve in 2016 itself. At its last meeting, the Fed noted that the U.S. economy was showing modest growth. A rate hike, of course, will be negative for risk assets such as equities. Not surprisingly, investors were on the sidelines ahead of the jobs report. At last check, the Dow Jones and the NASDAQ were trading lower, while the S&P 500 was marginally higher.
Despite a pullback in the broader market, shares of The Guitammer Co. (OTCPK:GTMM) are bucking the trend. Based in Westerville, Ohio, Guitammer is a leader in low frequency audio products and broadcast technology.
The Guitammer Company's patented and patent-pending broadcast technologies, "4D Sports powered by ButtKicker", enables the excitement, impact and feeling of live sporting events to be broadcast along with the sound and video, and puts the viewer into the action, whether at home or at the event. The technology is available for cable, satellite, fiber optic, IPTV and over-the-air broadcasts.
Guitammer shares were gaining after the company announced that it shipped equipment for a combined 17 new auditoriums totaling over 3,700 ButtKicker®-enabled seats for installations at movie theater exhibitors in the U.S. and China in the third quarter of 2016. In addition, the company said that it has a backlog of purchase orders for 18 auditoriums totaling over 3,500 more ButtKicker-enabled seats.
These additional auditoriums are expected to open during Q4 of 2016 or in Q1 of 2017, and shipments will be made as required by the exhibitor's respective installation schedules.
During Q3, a total of 14 auditoriums representing approximately 2,900 new ButtKicker-enabled seats were shipped in the U.S. and three new auditoriums with approximately 800 seats were shipped to China.
Mark Luden, President of Guitammer, said that the company is very pleased that the two U.S. cinema market leaders continue their growing deployment of ButtKicker products in conjunction with Premium Large Format (PLF) theater expansion plans.
At last check, GTMM shares were trading 2.06% higher at $0.0569 on volume of 13,000, which is more than three times the daily average volume of 3,547. Despite Thursday’s optimism, shares of GTMM were trading at the lower end of their 52-week trading range.
