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eFuture Information Technology Inc. (eFuture), a leading provider of integrated software and professional services in China's supply chain front market, announced the closing of its initial public offering of 1,133,500 ordinary shares at $6.00/shar, raising 6.8 million dollars.

The ordinary shares began trading on the Nasdaq Capital Market on October 31, 2006 under the symbol "EFUT", shares of eFuture climbed 16.67% in their first day of trading in US Tuesday.

eFuture is the first Chinese software company listed in NASDAQ CAPITAL MARKET, and also the first software company in the front supply chain market, therefore, it will spark the interests of domestic and overseas investors sooner or later.

Adam Yan, eFuture's Chairman and CEO, says: ''China has enjoyed and sustained economic growth for many years and now China's market is huge, particularly in retail and consumer market. Therefore, we have established three basic strategies. First, Upon China's growth opportunities of next five years, we will constantly solidify our leading position and expand our and market share through organic growth in the front supply chain market, particularly in retail and FMCG (Fast Moving Consumer Goods) markets; Second, efuture will take the lead in outsourcing, international business, SAAS service through business model innovation. Third, we will not miss any opportunity to acquire companies, which can increase our shareholder's value.

eFuture's IPO underwriter is Anderson & Strudwick, Inc. and this is Anderson & Strudwick's first Chinese deal and it is closed successfully. Mr. Ming Zhu, executive vice president of RMCC INTERNATIONAL, INC. serves as our senior advisor and helps us to communicate with ANDERSON & STRUDWICk, as well as help us to understand the US CAPITAL MARKET.

Brad Haneberg of the Richmond office of Kaufman & Canoles served as underwriter's counsel and was instrumental in helping to get the necessary approvals to bring the issue to market. The Kang Da Law Firm of Beijing represented the issuer.

About eFuture

eFuture Information Technology Inc. (''eFuture'') is a provider of integrated software and professional services for manufacturers, distributors, wholesalers, logistics companies and retailers in China's supply chain front market.

eFuture's customers are centered in the retail, automotive, general household appliance and consumer goods industries. Its solutions are specifically designed to optimize demand processes from finished goods to customer checkout, and to address supply chain management, business processes, decision support, inventory optimization, collaborative planning and forecasting requirements. eFuture 's software solutions business is enhanced and supported by its consulting services and ongoing maintenance on existing software installations.

eFuture has over 500 customers, 30% of the top 30 retailers in China and 30% of top 500 retailers in China. And eFuture has also been selected to provide the retail software for upwards of 500 retail stores (Mickey Space) that will be selling Disney products in China. In addition, eFuture provides products and services to Proctor & Gamble, Ford, Panric, Haier, Gucci, Suning, PARKSON, SOGO, Wangfujing, Homeway, Orient home, and other large companies operating in China's domestic markets.

November 9 Stocks To watch

Vanda Pharmaceuticals Surged Higher After Positive Phase III Results

(RTTNews) - Vanda Pharmaceuticals (VNDA) announced positive results from its Phase III clinical trial of VEC-162, Wednesday morning, for the treatment of transient insomnia. The drug demonstrated statistically significant improvements at all three tested doses compared to placebo in Latency to Persistent Sleep, which was the primary endpoint of the trial. VEC-162 also produced statistically significant improvements relative to placebo in Latency to Non-Awake, Wake After Sleep Onset and Total Sleep Time.

Vanda Pharmaceuticals gapped up nearly 4 points at the open of Wednesday's session and rose further during the early portion of the 10 o'clock hour. Shares of the biopharmaceutical company then settled into a narrow range and finished higher by 5.14 at $14.90 on strong volume. The stock broke out past resistance, to close at an all-time high.

Embrex (EMBX - commentary - Cramer's Take - Rating), a maker of vaccine-delivery technologies, surged after a unit of Pfizer (PFE - commentary - Cramer's Take - Rating) agreed to acquire the company for $155 million.

Under the agreement, Pfizer will acquire the shares of Embrex for $17 each. Embrex gained 40% to $16.63. Pfizer rose 1.2% to $26.56.

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We were looking through the list of top % gainers on the NYSE and came across Airgas (ARG), which as I write is trading at $41.61, up $1.63 or 4.08% on the day.  I do not own any shares nor do I have any options on this stock.

I would like to briefly share with you my thinking as I believe this stock deserves a place on stocks to watch.

The company profile

"...and its subsidiaries distribute industrial, medical, and specialty gases and hardgoods primarily in the United States. Its products and services include packaged and small bulk gases, gas cylinder, and welding equipment rental, and hardgoods."

On October 25, 2006, Airgas reported 2nd quarter earnings results for the quarter ended September 30, 2006.  Net sales for the quarter grew to $790.7 million from $702.2 million in the same quarter the previous year.  Net earnings increased to $39.5 million this year vs. $29.6 million last year, or $.49/share this year, and $.38/share last year on a diluted basis.  The company exceeded analysts' expectations of $.47/share on net sales of $790 million.  In addition, the company raised guidance to $.47 to $.49/share for the third quarter, while analysts have forecast $.47/share.

Looking longer-term at the Morningstar.com "5-Yr Restated" financials on ARG, we see a steady increase in revenue from $1.6 billion in 2002 to $2.8 billion in 2006 and $2.9 billion in the trailing twelve months (TTM).   Earnings also show steady improvement, and the company started paying a dividend of $.16/share in 2004 and has been increasing the dividend on a regular basis.  The number of shares outstanding has grown from 69 million in 2002 to 78 million in the TTM.  Free cash flow has been positive and steady and the balance sheet is adequate with $33.1 million in cash and $447.8 million in other current assets, adequate to cover the $433.2 million in current liabilities.  There is another $1.1 billion in long-term debt on the balance sheet.

Looking at the  "Key Statistics" on ARG, we see that this is a mid-cap stock with a market capitalization of $3.25 billion.  The trailing p/e isn't bad at 23.41, the forward p/e is 18.46 (fye 31-Mar-08), however the 5 yr expected growth is such that the PEG is quite high at 5.76. 

Reviewing the Fidelity.com eresearch website, we can see that Airgas (ARG) is in the "Industrial Equipment Wholesale' industrial group.  Within this group ARG is moderately priced with a Price/Sales ratio of 1.1.  Topping this group is MSC Industrial (MSM) at 2.1, and the cheapest in the group is CE Franklin (CFK) at 0.4.

Airgas actually has the lowest return on equity (ROE) of its group at 15.15.  Topping the group is DXP Enterprises (DXPE) with a ratio of 40.1%.

We  can see that this company has 78.01 million shares outstanding with 70.39 million that float.  Of these, 643,520 were out short as of 10/10/06 representing .9% of the float or 1.4 trading days of volume.  The forward dividend is $.28 representing a .7% yield, and the stock last split 4/16/96 with a 2:1 split.

Airgas has a very pretty "Point & Figure" chart.  The stock has climbed from a low of $6.50 in February, 2001, and has not broken down in price since.  Currently the stock is pushing into new high territory at the $42 level.

To summarize, this has been a great stock to own the past several years.  The company's stock moved higher today on the announcement of an acquisition of Linde's bulk gas unit for $495 million.  The latest quarterly report was strong with the company beating expectations and raising guidance.  The Morningstar evaluation looked nice with steady revenue and earnings growth, and an increasing dividend.  The number of shares outstanding has been growing slowly.  Free cash flow is positive and the balance sheet appears adequate.  Valuation has been o.k. with a reasonable p/e but a PEG over 5.0.  Finally, the chart looks terrific.

This is an interesting stock to consider.  It isn't a perfect picture imho, but most of the numbers are in line and the price performance of the stock in the market has been superb!