Stocks are sharply lower on concerns over Euro-Zone economic recovery
The stock market is extending its sharp slide Thursday after disappointing employment news added to investors’ already bleak view of the world economy. Interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.
The Labor Department said new claims for unemployment benefits rose by 25,000 to 471,000, their largest amount in three months. That came as an unpleasant surprise to investors who were expecting a slight drop to 440,000. High unemployment remains one of the biggest obstacles to a sustained recovery in the U.S. The latest report snapped a streak of four straight weekly declines and again calls into question the strength of the job market.
Weekly claims have been stuck around 450,000 since January, unable to break closer to the 425,000 range that is considered a sign that employers are regularly hiring new workers.
The employment report increased investors’ worries about the global economy. They have been selling heavily the past few weeks amid growing concerns that Europe’s debt problems will halt the recovery in the region and hurt the rebound in the U.S.
In early trading, The Dow Jones industrial average is down 155.99, or 1.5 percent, at 10,288.38. The Standard & Poor’s 500 index is down 16.00, or 1.4 percent, at 1,099.05, while the Nasdaq composite index is down 53.79, or 2.3 percent, at 2,244.58.
Yesterday’s Top Performing Small Cap Stock:
Tootie Pie Company TOOT
Tootie Pie Company was a SmallCapVoice.com top performer yesterday closing up over 20% on trading volume of 45,400 shares.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafes, in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels.
Today’s SmallCapVoice.com Hot Stock to Watch:
Aerius International Inc. (Pink Sheets: AERS)
Aerius International Picks Features for Aerius New Cell Phone for Tweens
LAS VEGAS, May 20, 2010 (GLOBE NEWSWIRE) — Aerius International, Inc., (Pink Sheets:AERS) today announced key features had been picked for its new tween phone from a list of features most wanted by tweens, including text messaging, downloading games and ringtones, and sending photos.
Vidaroo Corporation VIDA
Vidaroo Corporation is Back in Black According to Live Design Magazine
ORLANDO, Fla., May 20, 2010 (GLOBE NEWSWIRE) — Vidaroo Corporation VIDA, an innovative video technology company offering an Online Video Platform, video production, and online video advertising formerly named Gen2Media, was featured in an Industry article from Live Design Magazine, entitled “Back In Black: The Black Eye Peas E.N.D. World Tour,” By Marian Sandberg.
SmallCapVoice Clients’ News
YesDTC Holdings, Inc. YESD
YesDTC to Launch First DRTV Campaign on May 22nd – Signs Simply Music(TM) for Exclusive DRTV Marketing Rights
SAN FRANCISCO, May 19 /PRNewswire-FirstCall/ — YesDTC Holdings, Inc. (OTC Bulletin Board: YESD), a direct-to-consumer marketer and global distributor of consumer goods and products, announced today that it has successfully signed an agreement with Simply Music(TM) to become their exclusive direct response television (DRTV) marketer. YesDTC’s first DRTV campaign is scheduled to launch May 22nd in 15 markets.
Sillenger Exploration Corp. SLGX
Sillenger Exploration Corp. Appoints Dr. Allan Juhas Ph. D, as Director of Exploration
VANCOUVER, BC — (Marketwire) — 05/19/10 — Sillenger Exploration Corp. SLGX SLGX (“Sillenger”) is pleased to announce that Dr. Allan Juhas, Ph.D. has accepted the position of Director of Exploration. Dr. Juhas is an Economic Geologist with extensive domestic and international experience in the management, design and supervision of exploration programs. His experience in the evaluation of mineral potential at country, region, project, and individual property scales will be invaluable to Sillenger for its initiatives in Africa.
Other Small Cap News
Novell Inc. NOVL
Novell Set to Consider Takeover Bids From Suitors
Novell is back in the takeover news. About two months after the business software maker said it would consider an outright sale of itself, Novell is planning to receive offers from potential bidders.
The company, which spurned a bid of $5.75 a share from Elliott Associates in March, set a deadline of this week for bids to be submitted, two persons briefed on the matter told DealBook, confirming a report in The Wall Street Journal. Finalists will then be chosen for a final round of bidding, according to The Journal, citing people familiar with the matter.
Orbit International Corp. ORBT
Orbit International Receives $1,000,000 Award for Color Programmable Entry Panels
Contract Includes Option for $1,000,000 in Additional Orders
HAUPPAUGE, N.Y.–(BUSINESS WIRE)–Orbit International Corp. ORBT, a defense and industrial electronics manufacturer, systems integrator and software solution provider, today announced that its Electronics Group received an award from the U.S. Navy in excess of $1,000,000 for the manufacture of its Color Programmable Entry Panels (Color PEP). This contract includes an option clause, which provides Orbit’s customer the ability to procure additional units up to 100% of the original quantity or up to $1,000,000, if exercised within 120 days from the date of the initial order.
Boston Scientific Corporation BSX
Boston Scientific Launches Sterling(R) SL Balloon Catheter in U.S. and Europe
Company expands Sterling line of peripheral angioplasty balloon catheters to include long balloons designed for below-the-knee procedures
NATICK, Mass., May 19 /PRNewswire-FirstCall/ — Boston Scientific Corporation BSX today announced the U.S. and European launches of the Sterling(R) SL PTA Balloon Dilatation Catheter, a high-performance balloon dilatation catheter designed for use in peripheral angioplasty procedures below the knee. The Company plans to launch the product immediately in both markets.
Antares Pharma, Inc. (NYSE Amex: AIS)
Antares Pharma Announces Receipt of Milestone Payment from Ferring
EWING, N.J.–(BUSINESS WIRE)–Antares Pharma, Inc. (NYSE Amex: AIS), a leader in self injection drug delivery technology, today announced the receipt of a milestone payment from Ferring International Center S.A. The payment was related to achieving a development-based milestone under the license and asset purchase agreements announced in November 2009 regarding certain intellectual property relating to transdermal gel delivery technology. The amount of the milestone payment was not disclosed.
Level 3 Communications, Inc. LVLT
Level 3 Scores CoachClub Online Video Content Delivery Business
Level 3 to Provide CDN Services for French Online Sports Video Site
LONDON–(BUSINESS WIRE)–Level 3 Communications, Inc. LVLT today announced it will provide content delivery network (CDN) services including online media streaming and storage for CoachClub, the France-based online video sports and fitness coaching website.
Enzo Biochem, Inc. ENZ
Enzo Biochem’s Clinical Labs Unit Enters into Co-Marketing Program with MMF Systems, Inc., for Web-Based Medical Records and Practice Management Software
NEW YORK–(BUSINESS WIRE)–Enzo Biochem, Inc., ENZ announced today that Enzo Clinical Labs, Inc., its reference lab division serving physicians and medical facilities in the New York metropolitan area, has entered into a trial co-marketing services agreement with privately-owned MMF Systems, Inc. (“MMF”), of New York City, involving MMF’S state of the art medical records system.
Gastar Exploration Ltd. (NYSE Amex: GST)
Gastar Exploration Donelson #4 Deep Bossier Well Logs Over 135 Feet Net Pay
HOUSTON, May 19 /PRNewswire-FirstCall/ — Gastar Exploration Ltd. (NYSE Amex: GST) today announced that it has successfully drilled the Donelson #4 well, a deep Bossier test in East Texas, to a total depth of 18,700 feet and has logged approximately 138 net feet of pay in the lower Bossier formation. The Donelson #4 well contains five pay zones within the lower Bossier formation that, based on log analysis, have measured porosity up to 20% and high resistivity.
Tandy Leather Factory, Inc. (NYSE Amex: TLF)
Tandy Leather Factory Announces a Special One-Time Cash Dividend of $0.75 Per Share
FORT WORTH, Texas–(BUSINESS WIRE)–Tandy Leather Factory, Inc. TLF announced today that on May 18, 2010, its Board of Directors authorized a $0.75 per share special one-time dividend to be paid to stockholders of record at the close of business on June 3, 2010. The dividend is payable on July 5, 2010.
Inspire Pharmaceuticals, Inc. ISPH
Data Suggest Denufosol May Hold Promise as an Early Intervention Treatment for Cystic Fibrosis
ATS Oral Presentation Highlights Denufosol’s Potential to Reach the Small Airways, Where CF Lung Disease Begins
DURHAM, N.C.–(BUSINESS WIRE)–Inspire Pharmaceuticals, Inc. ISPH announced today that Inspire scientists and collaborators will present data on denufosol tetrasodium, an investigational therapy for cystic fibrosis (CF), during an oral presentation at the American Thoracic Society (ATS) 2010 International Conference May 14 – 19, 2010 in New Orleans, LA. The data suggest that denufosol, an inhaled ion channel regulator, has properties that allow it to reach and improve lung function in the small airways, which may support its potential as an early intervention therapy.
TranSwitch Corporation TXCC
Major Chinese OEM Initiates Volume Production of WiMAX VoIP Terminals Based on TranSwitch Atlanta Processor
Atlanta’s robust, carrier-grade VoIP quality exceeds rigorous performance benchmarks of public carrier networks
SHELTON, Conn.–(BUSINESS WIRE)–TranSwitch(R) Corporation TXCC, a leading provider of semiconductor solutions for the converging voice, data and video network, today announced that it has received pre-production orders from a leading Chinese Telecom OEM for its Atlanta(TM) 80 processor for use in its WiMAX VoIP terminal equipment. The first widespread deployments of the Atlanta(TM) based WiMax Fixed Wireless Terminals (FWT) will be in Asia and Europe where rollouts are expected to begin during the third quarter of 2010. Deployments follow several months of rigorous field testing of equipment under varying network conditions to ensure interoperability, quality and performance.
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