Stocks are lower as unemployment claims rise sharply
Stocks are mixed after a stronger euro helped ease concerns about a surprise increase in first-time claims for unemployment benefits.
The government said Thursday that the number of people putting in new claims for jobless benefits climbed by 12,000 last week to a seasonally adjusted 472,000. Economists had forecast that claims would fall.
The euro rose after a bond offering by Spain’s government drew solid demand. Traders have been concerned that European countries like Spain that have high debt loads would have trouble raising money because of investor concerns about defaults.
The Dow Jones industrials are down 11 at 10,398. The Standard & Poor’s 500 index is down 1 at 1,114, while the Nasdaq composite index is up 1 at 2,306.
Yesterday’s Top Performing Small Cap Stock:
Oromin Explorations Ltd. OLEPF
Oromin Explorations Ltd. was a SmallCapVoice.com top performer yesterday closing up over 3% on trading volume of 21,600 shares.
Oromin Explorations Ltd. provided an update on the current status of and plans for its 100% owned Santa Rosa oil & gas concession in the Province of Mendoza, Argentina.
The Santa Rosa concession is a large mineral tenure comprising 7694 km2 situated over a geological dome structure centred 91 km east of the city of Mendoza. The Santa Rosa dome prospect is the only known major structure in the eastern region of the Cuyana Basin. The Cuyana Basin totals approximately 161,000 km2 and has hosted over 934 producing wells from 2440 total wells drilled. Initial recoverable reserves in 18 oil pools in the Tupungato and Cacheuta sub-basins – the northern portion of the Cuyana Basin – total 1.2 billion barrels. These reserves were found to the west and southwest of our Santa Rosa concession, and there are no known discoveries of commercial quantities of hydrocarbons on our concession.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company TOOT
Tootie Pie Launches Tootie “Pie on a Stick”
Jun. 17, 2010 (Business Wire) — Tootie Pie Company, Inc. TOOT announced it is rolling out its newest innovation: Tootie “Pie on a Stick.” The newest delectable treat from Tootie Pie will only be available at the two Tootie Pie Gourmet Cafés in San Antonio, TX.
SmallCapVoice Clients’ News
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies Appoints New Members to Its Scientific and Technology Advisory Committee
NEW YORK, June 17, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets:TTCS), an information technology, smart logistics, and telemetrics company, today announced the newest members of its Science and Technical Advisory Committee – Dr. Alex Philp and Stanley Newton.
Other Small Cap News
Dynavax Technologies Corporation DVAX
NATURE Publishes New Dynavax Findings on Novel Role of TLRs in Lupus
BERKELEY, CA–(Marketwire – 06/16/10) – Dynavax Technologies Corporation DVAX today reported in NATURE new data that may explain the resistance of lupus patients to glucocorticoid treatment. In the June 16, 2010 issue of NATURE, Dynavax scientists show that activation of cells of the innate immune system by two key receptors, TLR7 and TLR9, can cause glucocorticoid resistance in lupus patients. The data also demonstrate that this resistance can be reversed by Dynavax’s novel TLR7/TLR9 inhibitors in human blood cells and animal models of lupus.
Great Lakes Dredge & Dock Corporation GLDD
Great Lakes Dredge & Dock Corporation Begins Work on First Sand Berm off the Louisiana Coast
OAK BROOK, Ill.–(BUSINESS WIRE)–Great Lakes Dredge & Dock Corporation GLDD – reported today that it has been engaged as a subcontractor to Shaw Environmental and Infrastructure Group (“Shaw”) to provide dredging services relating to the construction of sand berms off the Louisiana coast. Shaw has been retained by the State of Louisiana to construct the berms. The sand berms are intended to act as a barrier to reduce the amount of oil reaching the State’s fragile coastal wetlands and marshes as a result of the Deepwater Horizon oil spill. The berm construction process involves dredging the sand and delivering it to a designated berm location.
VirnetX Holding Corporation (NYSE Amex: VHC)
VirnetX Announces Special Cash Dividend
SCOTTS VALLEY, Calif., June 16 /PRNewswire-FirstCall/ — On June 15, 2010, the Board of Directors of VirnetX Holding Corporation (NYSE Amex: VHC) (the “Company”) approved the declaration of a one-time special cash dividend of $0.50 per share of the Company’s common stock payable on July 15, 2010 to stockholders of record on July 1, 2010.
Arena Pharmaceuticals, Inc. ARNA
Arena Pharmaceuticals’ Lorcaserin to Be Featured in Presentations at the American Diabetes Association’s 70th Scientific Sessions
SAN DIEGO, June 17, 2010 — /PRNewswire-FirstCall/ — Arena Pharmaceuticals, Inc. ARNA announced today that new data analyses from lorcaserin’s pivotal Phase 3 clinical trial program will be presented in poster sessions at the American Diabetes Association’s 70th Scientific Sessions in Orlando, Florida. The two posters highlighted below will be displayed in the Poster Hall from June 26, 2010, at 10:00 a.m. Eastern Time (ET) until June 28, 2010, at 4:00 p.m. ET.
Web.com WWWW
Web.com Announces Agreement to Acquire Register.com
Over $10 million annualized pre-tax cost savings expected when integration completed
ACKSONVILLE, Fla., June 17, 2010 (GLOBE NEWSWIRE) — Web.com WWWW, a leading provider of online marketing for small businesses, today announced it has entered into an agreement to acquire privately-held Register.com, a leading provider of global domain name registration and complementary website design and management services. Under the terms of the agreement, which is subject to standard closing conditions, Web.com will pay $135 million and will finance the purchase through a combination of cash and long-term debt.
Orexigen® Therapeutics, Inc. OREX
Orexigen(R) Therapeutics Announces Assignment of January 31, 2011 PDUFA Date for Contrave(R) New Drug Application
SAN DIEGO, June 17 /PRNewswire-FirstCall/ — Orexigen® Therapeutics, Inc. OREX, a biopharmaceutical company focused on the treatment of obesity, today announced that the U.S. Food and Drug Administration has assigned a Prescription Drug User Fee Act (PDUFA) action date of January 31, 2011 for the review of the Contrave® (naltrexone sustained release (SR)/bupropion SR) New Drug Application (NDA). The Company had announced on June 1, 2010 that the FDA accepted the Contrave NDA filing for review. The NDA is based on a substantial body of evidence gathered through the Contrave Obesity Research (COR) clinical program, which included over 4,500 patients.
Hydrogenics Corporation HYGS
Hydrogenics Announces Electrolyzer Contracts in Australia
MISSISSAUGA, Ontario, June 17, 2010 (GLOBE NEWSWIRE) — Hydrogenics Corporation HYGS HYG, a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced the award of two electrolyzers with supporting services to customers in Australia. One contract will supply a Hydrogenics HySTAT-30 electrolyzer for Queensland Energy Resources (QER) in Queensland, Australia; the second contract will provide Supagas, a large industrial gas company based in Melbourne, with a HySTAT-10 unit.
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