David K. Randall, AP Business Writer
Stronger earnings reports push stocks higher
Stocks rise as Alcoa, Sears and Tiffany predict better results; Europe jumps
NEW YORK (AP) — New signs of surging corporate profits led to early gains in the stock market Tuesday.
Alcoa Inc. kicked off the fourth quarter earnings season Monday when it reported that it beat Wall Street estimates. The huge aluminum maker also said it expects demand for its products to jump 12 percent this year, including gains of up to 11 percent in sales to automakers.
Two major retailers raised their earnings forecasts. Sears Holdings Corp. said expects to earn between $1.16 and $1.88 per share this year, well above the 88 cents analysts predicted. Tiffany & Co. said better-than-expected holiday sales would push its full-year earnings up at least six cents per share to $2.83.
The Dow Jones industrial average rose 37 points, or 0.3 percent, to 11,674 in morning trading. The Standard and Poor's 500 index gained 3, or 0.2 percent, to 1,273. The Nasdaq composite gained 4, or 0.2 percent, to 2,713.
Yesterday's Top Performing Small Cap Stock:
Madison Ave. Media, Inc. KHZM
Madison Ave. Media, Inc. was a SmallCapVoice.com top performer closing up over 8% on trading volume of 44,700 shares.
Madison Ave. Media is an advanced digital media company that offers a differentiated and competitive array of marketing technologies and services to clients in multiple industries. Their technology and services bring advanced, highly productive marketing, communications and advertising solutions to clients. And their services address the complete digital media value chain, combining the best practices of traditional media support with the power of technology.
Today's SmallCapVoice.com Hot Stock to Watch:
XZERES Wind Corp. XWND
XWND Leading the Way in Wind Energy
XZERES Wind Corp. XWND has recently announced the signing of its first European order and the launch of its Online Assessment Tool to guide customers through the purchase of its Small Wind Energy System.
XZERES Wind is well positioned in a market that has shown exponential growth over the past decade. Wind power, specifically Small Wind Power, should continue to fuel the “Green Energy” market as public attitude and government policy turns its focus to renewable energy sources.
Other Small Cap News
Alcoa AA
Alcoa Ends 2010 with Strong Fourth Quarter Results
All-time record cash from operations of $1.4 billion
NEW YORK–(BUSINESS WIRE)– Alcoa AA today announced fourth quarter 2010 income from continuing operations of $258 million, or $0.24 per share, the company's highest quarterly income since the economic downturn and $197 million higher than the third quarter of 2010. Fourth quarter income from continuing operations includes a $35 million, or $0.03 per share, positive impact from special items, compared to a negative impact of $35 million, or $0.03 per share, in the third quarter of 2010 and a negative impact of $275 million, or $0.28 per share, in the fourth quarter of 2009. The company also set an all-time record for cash from operations and a fourth-quarter record for free cash flow.
Entravision Communications Corporation EVC
Entravision Communications Corporation Acquires Remaining Stake in Lotus Entravision Reps
SANTA MONICA, Calif., Jan. 10, 2011 /PRNewswire/ — Entravision Communications Corporation EVC announced today that it has acquired the remaining 50% interest in Lotus Entravision Reps (LER), a national sales rep firm representing more than 156 Spanish-language radio stations, from Lotus Communications Corp. Specific terms of the transaction were not disclosed.
Rosetta Genomics, Ltd. ROSG
Rosetta Genomics Receives Grant and Joins Rimonim Pharmaceutical Consortium
PHILADELPHIA, PA and REHOVOT, ISRAEL–(Marketwire – 01/10/11) – Rosetta Genomics, Ltd. ROSG, a leading developer and provider of microRNA-based molecular diagnostics, announced today that it has joined the Rimonim pharmaceutical consortium (“Rimonim” or “the consortium”). The goal of the consortium, which is funded by the Office of the Israeli Chief Scientist (“OCS”), is to bring together leading Israeli biotechnology companies in order to advance RNAi-based therapeutics. By joining the consortium Rosetta Genomics received a $460,000 grant from the OCS.
Magnum Hunter Resources MHR
Magnum Hunter Resources Provides Eagle Ford Shale Drilling Update
HOUSTON, TX–(Marketwire – 01/11/11) – Magnum Hunter Resources Corporation MHR MHR (“Magnum Hunter” or the “Company”) is providing a second drilling and operational update this morning on the Company's activities in the Eagle Ford Shale resource play located across approximately 50,000 gross acres predominately in Atascosa, Gonzales, and Lavaca Counties of Central and South Texas. The first update was provided two months ago in a Press Release dated November 10, 2010.
Accuray Incorporated ARAY
First Five-Year Outcomes Published on CyberKnife Radiosurgery for Prostate Cancer
Study Demonstrates Long-Term Efficacy of Five-Day Course of CyberKnife Prostate Treatment
SUNNYVALE, Calif., Jan. 11, 2011 /PRNewswire/ — Accuray Incorporated ARAY, a global leader in the field of radiosurgery, announced today the first published five-year outcomes on low risk prostate cancer patients treated with the CyberKnife® Robotic Radiosurgery System. The multi-center study, published in the January 10, 2011 issue of Radiation Oncology, found that 93 percent of patients had no recurrence of their cancer at a median follow-up of five years, a rate that compares favorably to results obtained with other treatment modalities, including surgery and conventional radiation therapy.
XOMA Ltd. XOMA
XOMA Presents XOMA 3AB Data at National Biodefense Meeting
BERKELEY, Calif., Jan. 11, 2011 (GLOBE NEWSWIRE) — XOMA Ltd. XOMA, a leader in the discovery and development of therapeutic antibodies, today announced several presentations that highlight advances in the company's biodefense program and particularly in the development of XOMA 3AB, a three antibody formulation that binds to distinct regions of botulinum toxin type A. Among these will be an invited oral presentation describing the successful lyophilization of XOMA 3AB and studies demonstrating the stability of this formulation over time stored at a wide range of temperatures. The presentations will be made at the Fifth Annual Public Health Emergency Medical Countermeasures Enterprise (PHEMCE) Stakeholders Workshop and BARDA Industry Day, January 10 to 12, 2011 in Washington, DC.
Graymark Healthcare, Inc. GRMH
Graymark Healthcare Signs Five New Provider Contracts for Sleep Medicine Services
New Graymark Sleep Centers Opening in Nebraska, Oklahoma, and Texas
OKLAHOMA CITY, Jan. 11, 2011 /PRNewswire/ — Graymark Healthcare, Inc. GRMH, the nation's second largest provider of diagnostic sleep services and an innovator in comprehensive care for obstructive sleep apnea (OSA), signed five additional agreements for its comprehensive sleep medicine services in the fourth quarter of 2010.
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