Stocks are down on European economic concerns
Stocks are falling in early trading on concerns about how austerity measures in Europe might slow the continent’s economy.
Better-than-expected reports on U.S. retail sales and industrial production didn’t help stock prices.
Investors are focusing on the potential long-term impact of severe austerity measures in some European countries like Greece, Spain and Portugal.
The euro fell to an 18-month low Friday.
In early morning trading, the Dow Jones industrial average is down 135.43, or 1.26 percent, at 10,647.52. The Standard & Poor’s 500 index is down 18.11, or 1.56 percent, at 1,139.32, while the Nasdaq composite index is down 42.72, or 1.78 percent, at 2,351.64.
Yesterday’s Top Performing Small Cap Stock:
BRAVADA International Ltd (Pink Sheets: MFLI)
BRAVADA Muscle Flex Inc. was a SmallCapVoice.com top performer yesterday closing up over 4% on trading volume of 2,651,326 shares.
BRAVADA Muscle Flex Inc. recently announced that it is creating its media production subsidiary, BRAVADA Productions, a majority owned entity and has acquired a publicly traded shell, current stock symbol ARLRF (Hampton Gold Corp aka Ariel Resources), to facilitate the development and deployment of its media production business. No shares of BRAVADA Muscle Flex (MFLI) shall be issued in this transaction nor any cash.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies Subsidiary Whirlwind Media Services Selected to Promote “Jazz on the Pond”
Event to Feature Grammy Award Winning Artist Chaka Khan
NEW YORK, May 14, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets: TTCS), an information technology, security and telecommunications company, today announces that its award-winning Whirlwind Media Services subsidiary has teamed up with The Belasco Family Foundation to promote their charity event, Jazz on the Pond, in Rochester, New York.
Other Small Cap News
Camtek Ltd. CAMT
Camtek Receives Order for Multiple Falcon Systems
Camtek’s FALCON System Selected by a Leading Assembly and Test Supplier for Advanced 2D and 3D Metrology and Inspection Applications
MIGDAL HAEMEK, Israel, May 13, 2010 /PRNewswire-FirstCall/ — Camtek Ltd. (NASDAQ and TASE: CAMT) (“Camtek”), announced today that a leading assembly and test supplier in Asia has selected the Falcon, Camtek’s Automatic Optical Inspection (AOI) system, for a 2D and 3D metrology and inspection solution. The full order included four systems; two systems will be installed during the second quarter of 2010 and additional two systems will be installed in the third quarter of 2010.
Geron Corporation GERN
Geron Announces Positive Study Data on GRNCM1
Study Shows Geron’s Human Embryonic Stem Cell-Derived Cardiomyocytes Do Not Cause Arrhythmias in Animal Model of Chronic Heart Injury
MENLO PARK, Calif.–(BUSINESS WIRE)–Geron Corporation GERN today reported positive preclinical study data showing that GRNCM1, Geron’s cardiomyocyte product derived from human embryonic stem cells (hESCs), does not cause cardiac arrhythmias after transplantation into a model of chronic heart damage designed to test this potential safety concern. GRNCM1 is being developed for the treatment of heart failure.
Novavax, Inc. NVAX
Novavax Announces Publication of a Pre-clinical Study with its Pandemic 2009 H1N1 Influenza Virus-Like Particle (VLP) Vaccine
First report of a vaccine protecting ferrets against the 2009 pandemic H1N1 virus is published in the journal Vaccine
ROCKVILLE, Md., May 13 /PRNewswire-FirstCall/ — Novavax, Inc. NVAX announces the first report of a vaccine protecting ferrets against the 2009 pandemic H1N1 virus has been published in the journal Vaccine May 12, 2010 online issue. Scientists from Novavax and the Centers for Disease Control and Prevention (CDC) based in Atlanta, GA, under a collaborative agreement, co-authored the scientific report.
China Direct Industries, Inc. CDII
CDII Trading, Inc. in Contract to Supply Manganese Ore to a Manganese Trading and Refining Company in China
The Twelve-Month Contract to Be Sourced From Chile Expected to Generate up to $18 Million in Revenue
DEERFIELD BEACH, FL–(Marketwire – 05/13/10) – China Direct Industries, Inc. (“China Direct Industries”) CDII, a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, announced today that its wholly owned subsidiary, CDII Trading, Inc. (“CDII Trading”), has entered into a contract to supply manganese ore over the next 12 months to a privately held China-based trading and refining company.
Ballantyne Strong, Inc. (NYSE Amex: BTN)
China Film Group Selects Ballantyne Strong for an Additional 200 NEC Digital Cinema Projectors for Mainland China
OMAHA, Neb.–(BUSINESS WIRE)–Ballantyne Strong, Inc. (NYSE Amex: BTN), a provider of digital cinema projection equipment and services, cinema screens and other cinema products, announced today that it has been selected to provide 200 NEC digital cinema projectors for China Film Group Corp. in theatres throughout The People’s Republic of China (PRC). Ballantyne expects to make initial shipments of 50 projectors in the second quarter of 2010, with the balance of the order to be shipped later this year. The new agreement follows a 100-projector order completed in Q2 ‘09 and a 160-projector order completed in Q1 ‘10.
Converted Organics Inc. COIN
Converted Organics Ships Order of Its Lawn and Turf Fertilizer to Integrated Turf Care LLC of Florida
Commercial Landscaping Company Selects Converted Organics to Provide Its Customers With an Organic Lawn Care Solution and Contribute to the Area’s Resource Conservation Efforts
BOSTON, May 13, 2010 (GLOBE NEWSWIRE) — Converted Organics Inc. COIN announced today that it has recently shipped an order of its Converted Organics(R) 8-1-4 Lawn & Turf all-natural, organic fertilizer to a new customer, Integrated Turf Care LLC (http://integratedturfcare.com/index.asp), a company which specializes in commercial landscaping services, based in Coral Springs, FL.
Celsion Corporation CLSN
Celsion’s Phase III ThermoDox(R) HEAT Study Recommended for Continuation by Data Monitoring Committee
COLUMBIA, Md., May 13 /PRNewswire-FirstCall/ — Celsion Corporation CLSN announced today that after reviewing data from 294 patients including data from 12 Japanese patients enrolled in the pivotal Phase III ThermoDox(R) clinical study (HEAT Study) for primary liver cancer, the Data Monitoring Committee (DMC) has recommended that Celsion continue to enroll patients in the trial.
BIDZ.com, Inc. BIDZ
Bidz.com Announces Financial Results for the First Quarter 2010
David Zinberg, Chief Executive Officer, added, “I am pleased to report that we are beginning to see positive momentum in both our core business and many of our newer initiatives. Since the end of last year, our Bidz.com site has experienced increased activity in terms of the number of items sold per day, and both our Modnique.com and Buyz sites are off to a good start. Given these trends, as well as a somewhat improved overall economic climate, I believe that we will soon be seeing improved financial results. We remain focused on achieving profitability and leveraging our model to deliver higher earnings, cash flow and shareholder returns.”
Merit Medical Systems Inc. BSDM
Merit Medical Systems will buy BioSphere for $96M
Merit Medical agrees to buy embolization particle maker BioSphere for $96M, or $4.38 per share
NEW YORK (AP) — Merit Medical Systems Inc. said Thursday it agreed to buy BioSphere Medical Inc., which makes tiny particles that are used deliver drugs or block blood flow to tumors, in a deal valued at $96 million.
The South Jordan, Utah, company said its offer values BioSphere stock at $4.38 per share. That is a premium of 46 percent above BioSphere’s closing price of $3 on Thursday.
eMagin Corporation EMAN
eMagin Posts Strong First Quarter Results
Net Income More than Doubles on Revenue and Margin Gains
“eMagin continued to build momentum during the first quarter, hitting its timelines in the development of two custom displays that will enter production this year, while achieving significant revenue growth and increasing margins in what has been historically a quarter of lower sales. Importantly, during the first quarter the Company was awarded additional funding for the development of night vision technology with the Army, and is on track in its development of an ultra-high resolution, 3-D capable microdisplay for the U.S. Army’s Telemedicine and Technology Research Center, which will contribute significantly to our revenue base in 2010 and 2011,” commented Andrew Sculley, eMagin’s president and chief executive officer.
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