David K. Randall, AP Business Writer
Stocks dip after China raises rates
Stocks fall after China raises interest rates over weekend to slow pace of economy
NEW YORK (AP) — Stock indexes fell in early trading Monday after China moved to raise interest rates to combat rising inflation.
It is the second time in three months that China has taken steps to slow the pace of its economic expansion. Inflation jumped to its highest levels in two years in November. Rising prices have led poor families to spend more than half of their incomes on food.
Any slowdown in China can affect stocks worldwide. Bank of America Corp. estimates that emerging markets like China account for 80 percent of the worlds economic growth.
Shares were down sharply overseas. The Euro Stoxx 50, which tracks blue chip companies in countries that use the euro, fell 1.5 percent. Asian stock markets closed down less than 1 percent.
Yesterday's Top Performing Small Cap Stock:
XZERES Wind Corp. XWND
XZERES Wind Corp. was a SmallCapVoice.com top performer closing up over 11% on trading volume of 6,395 shares.
XZERES Wind designs, manufactures, and distributes high quality distributed wind energy systems. Through innovative design focused on reliability, durability, and simplicity, XZERES Wind offers wind energy solutions with industry leading performance by maximizing energy production through efficiency.
In early 2010, XZERES WIND CORPORATION acquired the assets of Abundant Renewable Energy, LLC and the company is now designing, developing, manufacturing, selling, and supporting distributive generation wind turbine solutions. Our product portfolio includes 2.5 kW and 10 kW rated power systems, with additional larger systems in development. Each system is comprised of a wind turbine, power electronics, towers, and auxiliary components providing a complete solution. Our product attributes include high efficiency design with fewer moving parts providing reduced service & maintenance cost; easy installation with superior performance across a wide variety of conditions and capturing maximum benefits in low wind speed environments as well. Additionally, our reliable products have a proven track of record with numerous systems deployed in North America; 10 year manufacturer's warranty, and a durable wind turbine system exceeding 20 year life. We lead the market in lowest cost of ownership compared to similar products. Our products are available through a global network of dealers.
Today's SmallCapVoice.com Hot Stock to Watch:
Fresh Traffic Group Inc. FRTG
A New Audio Interview with Fresh Traffic Group Inc. President, Jerry Booth, is now at Emergingmarketsllc.com.
AUSTIN, Texas–(BUSINESS WIRE)– Emergingmarketsllc.com announced today that a new audio interview with Fresh Traffic Group Inc. (OTC.BB: FRTG) a provider of innovative branding and leading Internet marketing services and solutions, is now available. The interview can be heard at http://www.emergingmarketsllc.com/ceo-interviews.php.
Other Small Cap News
Magnum Hunter Resources (NYSE Amex: MHR)
Magnum Hunter Resources to Acquire Appalachian Basin Focused NGAS Resources for $98 Million
HOUSTON, TX–(Marketwire – 12/27/10) – Magnum Hunter Resources Corporation MHR and MHR (“Magnum Hunter”, or the “Company”) announced today that it has entered into a definitive agreement to acquire Appalachian Basin focused NGAS Resources, Inc. NGAS for approximately $98 million (USD) in common stock and assumed liabilities. Magnum Hunter has agreed to acquire NGAS for $0.55 per share with a fixed exchange ratio of 0.0846 based on an agreed Magnum Hunter stock price of $6.50 per share. (There are no collars on the fixed exchange ratio based on the trading price of either Magnum Hunter and/or NGAS).
Lentuo International Inc. LAS
Lentuo International Inc. Provides Updates on New Beijing Traffic Control Measures
BEIJING–(BUSINESS WIRE)– Lentuo International Inc. LAS (“Lentuo” or the “Company”), the largest non-state-owned automobile retailer in Beijing, China as measured by new vehicle sales revenues in 2009, today provides updates on Beijing's new traffic control measures.
Capstone Turbine Corporation CPST
Capstone Turbine C30 CNG Microturbine Certified to CARB 2010 Requirement for On-Road Heavy Duty Diesel Engines for Urban Bus
CHATSWORTH, Calif., Dec. 27, 2010 (GLOBE NEWSWIRE) — Capstone Turbine Corporation (www.capstoneturbine.com) CPST, the world's leading clean technology manufacturer of microturbine energy systems, today announced it released configurations of the C30 compressed natural gas (CNG) microturbine that meet or exceed emissions standards, including the U.S. Environmental Protection Agency and California Air Resources Board (CARB) 2010 requirements for On-Road Heavy Duty Diesel Engines (HDDE) for Urban Bus.
Orbit International Corp. ORBT
Orbit International Corp. Announces $800,000 Order for Displays for CVN 78 Super Carrier
Additional Orders Expected in First Quarter of 2011
HAUPPAUGE, N.Y.–(BUSINESS WIRE)– Orbit International Corp. ORBT, an electronics manufacturer and software solution provider, today announced that it received an order for approximately $800,000 for displays from a leading defense contractor for the Machine Control System for the U.S. Navy's CVN 78 class of super aircraft carriers. This order combined with approximately $1,300,000 of aggregate orders received earlier this year brings total awards for this program to approximately $2.1 million in 2010. Production is underway at the Company's Orbit Instrument Division facility in Hauppauge, NY. Deliveries commenced during this current quarter and are expected to continue through the second quarter of 2012.
IncrediMail Ltd. MAIL
IncrediMail Signs New Two Year Agreement with Google
TEL AVIV, Israel–(BUSINESS WIRE)– IncrediMail Ltd. MAIL (www.incredimail-corp.com), a digital media company that builds downloadable consumer products, today announced that it has signed a new 2 year agreement with Google. The new agreement is effective January 1, 2011.
About SmallCapVoice.com
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