Stocks are lower amid continued European economic worries
Stocks are moderately lower as markets worldwide again tracked the movement of the euro Wednesday.
U.S. stock index futures erased some of their deep, early morning losses as the euro bounced off a four-year low of $1.2146 and moved back up to $1.2246.
European stocks fell sharply at first, rattled by Germany’s move to ban a form of short selling. Germany enacted the ban in an effort to try to prevent its markets from falling sharply in response to concerns about Europe’s debt problems. But major European indexes also regained some ground as the euro moved higher.
Markets have taken their cues from the euro because it is seen as a proxy for confidence in Europe’s economy. Investors are concerned that severe budget cuts in countries like Greece, Portugal and Spain will significantly slow any recovery in Europe. That slowdown could then spread globally, halting a worldwide rebound.
European leaders agreed last week to a nearly $1 trillion bailout program to help countries that are facing mounting debt problems. The deal was initially embraced by investors. But traders quickly worried that the austerity measures tied to the rescue package would upend a rebound.
The Dow Jones industrial average fell 36, or 0.3 percent, to 10,454. Standard & Poor’s 500 index fell 4.70, or 0.4 percent, to 1,114.00, while Nasdaq 100 index fell 5.00, or 0.3 percent, to 1,883.00.
Yesterday’s Top Performing Small Cap Stock:
Vidaroo Corporation VIDA
Vidaroo Corporation was a SmallCapVoice.com top performer yesterday closing up over 20% on trading volume of 171,300 shares.
Vidaroo Corporation Files Quarterly Report for the Fiscal Period Ended March 31, 2010; Results Include 577% Increase in Revenue and 792% Increase in Operating Margin
Vidaroo Corporation, an innovative video technology company offering an Online Video Platform, video production and online video advertising, filed its quarterly report for the fiscal period ended March 31, 2010; results include a 577% increase in revenue and a 792% increase in operating margin.
Mark Argenti, CEO, Vidaroo Corporation states, “This is an unprecedented time for the Company, as we experienced growth in each of our three business units during the past quarter. The combination of a growing revenue base combined with the launch of our new brand and marketing interface at www.Vidaroo.com has created a very exciting environment from which to drive future growth.”
Tom Moreland, CFO, Vidaroo Corporation, notes, “We are pleased to see strong growth in Revenue combined with ongoing strength at the Operating Margin line. Building business with strong margins is a top priority for our management team.”
Today’s SmallCapVoice.com Hot Stock to Watch:
BRAVADA International Ltd (Pink Sheets: MFLI)
BRAVADA Muscle Flex Files Trademarks with the USPTO for BRAVADA(TM) for Retail Store Services and On-line Retail Store Services
May 18, 2010 (Business Wire) — BRAVADA Muscle Flex Inc. (www.BravadaLtd.com) (Pink Sheets:MFLI) announced today that it has filed trademark applications with the United States Patent and Trademark Office (USPTO) for BRAVADA for the following wares and services:
1. On-line Retail Store Services featuring: Clothing, sportswear, swimwear, yoga wear, fitness and exercise equipment
2. Retail Store Services featuring: Clothing, sportswear, swimwear, yoga wear, fitness and exercise equipment
3. The BRAVADA Logo
BRAVADA Muscle Flex Announces its Celebrity Red Carpet Grand Opening for its BRAVADA Women’s Athletica Retail Store in Los Angeles June 10 at 322 Robertson Blvd
May 19, 2010 (Business Wire) — BRAVADA Muscle Flex Inc. (www.BravadaLtd.com) (Pink Sheets:MFLI) announced today its Celebrity Red Carpet Grand Opening Party for its BRAVADA Women’s Athletica Retail Outlet in Los Angeles Thursday June 10 at its flagship BRAVADA(TM) Retail location at 322 Robertson Blvd slated to open June 1st. The star-studded celebrity line-up will be released to the public next week. The BRAVADA Red Carpet Grand Opening celebration of its Los Angeles store will feature a high profile Hollywood celebrity line up with a cavalcade of national media and press.
SmallCapVoice Clients’ News
Tie Technologies, Inc. TTCS
TIE Technologies Submits Proposed Team Response to U.S. Ecological Disaster in Gulf
NEW YORK, May 19, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets:TTCS), an information technology, security and telecommunications company, today announced the submission of its OilDam(R) Emergency Containment Proposal to the EPA’s Homeland Security Research Center and the U.S. Coast Guard for immediate consideration. A technical team, led by TIE Technologies, was formed to provide a reliable means to keep oil from the BP gulf oil spill away from the shore, contain it and enable its removal.
Other Small Cap News
Nymox Pharmaceutical Corporation NYMX
Nymox Nears Completion of New Three Year U.S. Long-Term Follow-Up Study of BPH Drug
HASBROUCK HEIGHTS, N.J., May 18, 2010 (GLOBE NEWSWIRE) — Nymox Pharmaceutical Corporation NYMX announced today that the Company is nearing completion of a new multi-center U.S. long-term follow-up study of NX-1207, its investigational drug for the treatment of benign prostatic hyperplasia (BPH). The Company anticipates the reporting of final results and statistical analysis for the study within the next 2 weeks. The new study concerns assessment of the 30-36 month efficacy and benefits of a single treatment of NX-1207. Patients in the new study were followed and have remained blinded subsequent to their participation in Nymox’s U.S. Study NX02-0016. The initial study was undertaken in 2007 at 32 U.S. sites and enrolled 85 subjects. The new study includes results from all currently available patients.
Claude Resources Inc. (NYSE Amex: CGR)
Claude Resources Announces Agreement To Sell Certain Oil and Natural Gas Assets
SASKATOON, May 18 /PRNewswire-FirstCall/ – Claude Resources Inc. (“Claude” or the “Company”) today announced that it has entered into a Purchase and Sale Agreement with a private Canadian corporation (the “Purchaser”), pursuant to which the Purchaser has agreed to purchase a majority of the oil and natural gas assets owned by Claude. Gross proceeds from the transaction are expected to be $6.2 million.
Generex Biotechnology Corporation GNBT
Generex Biotechnology Announces Publication of Novel Immunotherapeutic Cancer Vaccine Results in Patients With Prostate Cancer
WORCESTER, Mass., May 18, 2010 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation GNBT announced today publication of results from the first Phase I study of its lead immunotherapeutic agent AE37 in patients with prostate cancer. At the end of 2009, the Company announced positive interim results from a Phase II trial being conducted with AE37 in patients with breast cancer. The compound is being developed by its wholly-owned subsidiary, Antigen Express, Inc.
VAALCO Energy, Inc. EGY
VAALCO Energy Provides Drilling Update
HOUSTON, May 18 /PRNewswire-FirstCall/ — VAALCO Energy, Inc. EGY reported today that the contracted rig, the Sapphire Driller, has successfully completed operations on the Ebouri 3H workover and has moved onto location to drill the SE Etame exploration well. The spud date is forecast for Wednesday, May 19, 2010.
Oncolytics Biotech Inc. ONCY
Oncolytics Biotech(R) Inc. Announces Publication of Phase I Clinical Trial Results in Clinical Cancer Research
CALGARY, AB, May 18 /PRNewswire-FirstCall/ – Oncolytics Biotech Inc. (“Oncolytics”) ONCONCY announced today that a paper entitled “Two-Stage Phase I Dose-Escalation Study of Intratumoural Reovirus Type 3 Dearing and Palliative Radiotherapy in Patients with Advanced Cancers,” has been published in the online version of the journal Clinical Cancer Research.
Research Frontiers Inc. REFR
SmartGlass International, Schott and Research Frontiers Announce SPD-Smart License Expansion From the Hamburg Air Show
HAMBURG, Germany, May 18, 2010 (GLOBE NEWSWIRE) — From the booth of its partner the SCHOTT Group at the 2010 Aircraft Interiors Expo in Hamburg, Germany, SmartGlass International Ltd., a licensee of Research Frontiers Inc. REFR, announced an agreement with Research Frontiers to expand the scope of SmartGlass International’s license to include SPD-Smart aircraft and marine products, and a further expansion of the geographic territory where it can offer these and its SPD-Smart(TM) architectural products.
Versar, Inc. (NYSE Amex: VSR)
Versar, Inc. Providing Rapid Response Support to Gulf Oil Spill
SPRINGFIELD, Va.–(BUSINESS WIRE)–Versar, Inc. (NYSE Amex:VSR) has deployed a team of scientists to the Gulf coast region to provide technical support in response to the oil spill in the Gulf of Mexico. Versar was selected due to its rapid response capabilities and over 35 years of ecological monitoring and surveying experience. On-scene Versar scientists will be supported remotely by other Versar divisions with modeling, meteorology, fisheries ecology, sensitive habitat and other technical experts. Versar has expertise in both oil spill response and Natural Resource Damage Assessment (NRDA) and is able to quickly respond to incidents of this magnitude.
Brightpoint, Inc. CELL
Brightpoint Announces Signing of Lease for the New Distribution Center in Nordics
INDIANAPOLIS, May 18, 2010 (GLOBE NEWSWIRE) — Brightpoint, Inc. CELL announced today that its subsidiary, Brightpoint Sweden AB (“Brightpoint”), has entered into a lease agreement with Brinova Log. Sweden for a new Distribution Center in Boras, Sweden. Jones Lang LaSalle represented Brightpoint in the lease negotiations. This center is expected to become operational in Q4 2010 and will serve Brightpoint’s customers across the Nordic region with state-of-the-art supply-chain solutions through industry-leading processes and systems. The existing distribution centers in Norway, Denmark, and Finland will remain intact for the near future and will continue to serve our suppliers and customers.
Graphic Packaging International, Inc. GPK
Graphic Packaging Increases Prices on SUS(R) Paperboard in Europe
MARIETTA, Ga., May 18 /PRNewswire-FirstCall/ — Graphic Packaging International, Inc. (GPI), a subsidiary of Graphic Packaging Holding Company GPK, recently announced a European price increase on all grades of its solid unbleached sulphate (SUS(R)) paperboard, effective with shipments on or after May 31, 2010. The price of all GPI SUS(R) Paperboard will increase by 65 pounds Sterling per ton in the U.K. and euro 65 per ton in the rest of Europe.
Magellan Petroleum Corporation MPET
Magellan Petroleum Corporation
PORTLAND, Maine, May 18 /PRNewswire-FirstCall/ — Magellan Petroleum Corporation MPE MGN announced that the Company has signed a term sheet (the “Term Sheet”) with Young Energy Prize S.A. (“YEP”), a Luxembourg corporation, embodying an agreement in principle for an additional equity investment in the Company of $15.6 million. Currently, YEP owns approximately 27% of the outstanding shares of the Company’s Common Stock, calculated as if the warrants to purchase shares of such stock held by YEP were fully exercised.
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