2-19-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are lower after the Federal Reserve said it raised the interest rate it charges banks for emergency loans
The Fed said its action should not be seen as a sign that it will soon raise rates for consumers and businesses. But the stock market, which tends to trade on expectations for what the economy will be like in six to nine months, seems to be anticipating that rates will eventually rise.
The rate hike offset relief over a tame inflation report. The Labor Department said the Consumer Price Index rose by a smaller-than-expected 0.2 percent in January. Excluding food and energy, the index actually slipped 0.1 percent, its first monthly drop in 27 years.
The tame CPI report comes as a relief to investors because it makes it less likely the Fed will need to raise its benchmark fed funds rate almost immediately to try to tame inflation. A report Thursday on inflation at the wholesale level showed a larger-than-expected rise, which added to the scrutiny of the consumer price report.
Inflation would force the Fed’s hand to raise rates so it could combat inflation. However, the Fed has repeatedly said inflation isn’t a problem. That has allowed it to keep rates for consumers and businesses at historic lows in an effort to jump-start the economy.
Raising rates too early could upend a recovery and make it more difficult for jobs creation — a key stumbling block to a strong rebound.
In morning trading, the Dow Jones industrial average is down 25.84, or 0.3 percent, at 10,367.06. The Standard & Poor’s 500 index is down 3.52, or 0.3 percent, at 1,103.23, while the Nasdaq composite index is down 7.69, or 0.3 percent, at 2,234.02.
Yesterday’s Top Performing Small Cap Stock:
TIE Technologies, Inc. (Pink Sheets: TTCS) was a SmallCapVoice.com top performer yesterday closing up over 20% on trading volume of 7,000 shares.
TIE Technologies, Inc., a systems integration and telecommunications company focused on engineering and delivering innovative solutions for the dynamic global security, voice and data communications markets, today announced that its wholly owned subsidiary MobileApps, Inc. (“MobileApps”) launched a new affiliate business development program with the execution of its first Affiliate agreement.
Kicking off The Whirlwind Hosting Affiliate Program, MobileApps executed its first affiliate agreement with Evoke Group – a Graphics Design company based in Asheville, N.C. In this mutual business development contract, MobileApps, Inc. provides support services to the affiliate development firm, in exchange for the affiliate firm bringing applications and website hosting customers to MobileApps.
The recent marketing campaign from IBM is a good reminder that the Application Hosting Services/Global cloud computing market is expected to grow at a compounded annual rate of 28 percent from $47 billion in 2008 to $126 billion by 2012. MobileApps is positioning itself to capture a part of this market and also provides access to this market to the affiliates.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company, Inc. (OTC BB: TOOT)
Tootie Pie reported the best overall quarterly operating results in the Company’s history. The shift to increase retail sales growth from existing and planned acquisitions has positioned Tootie Pie for continued sales growth and profits.
The company recently reported net income of $29,771 on revenues of $910,837 for the quarter ending Dec. 31, 2009. This is an improvement over the fourth quarter of 2008 as the company posted a net loss of $30,618 on revenues of $909,741.
Don Merrill Jr., president & CEO of the Tootie Pie Co. is optimistic about the company’s future.
Merrill says the company was able to improve its bottom line results and increase unit sales, which produced the best overall quarter in the company’s history. And, Merrill says he believes that 2009 will prove to be a turning point for the company.
A new Audio Interview with Don Merrill, President and CEO of Tootie Pie Company is now at SmallCapVoice.com
The interview can be heard at http://smallcapvoice.com/blog/2-17-10-audio-interview-with-tootie-pie-company-otcbb-toot/
The Tootie Pie Co. focuses on baking high-quality, handmade pies. The Boerne, Texas-based Company distributes its pies through retail, corporate and wholesale channels.
Other Small Cap News
Rite Aid Corp. (NYSE: RAD)
Rite Aid climbs as analyst talks sale options
Rite Aid advances as UBS analyst says company could sell stores to Walgreen, CVS or Wal-Mart
Analyst Neil Currie said each company would have good reason to consider buying at least some of Rite Aid’s 4,800 stores. Rite Aid’s sales are slumping and the company is saddled with billions in debt, but Currie said a deal could help Wal-Mart, CVS and Walgreen expand into new markets. Adding some of Rite Aid’s locations also could help Wal-Mart take a step forward in increasing its pharmacy business.
CryoLife, Inc. (NYSE: CRY)
CryoLife Grows Fourth Quarter Revenues by 12 Percent to a Record $28.6 Million
Generates over $16.5 million in operating cash flow for 2009
“CryoLife is continuing to thrive in very demanding economic conditions. In addition to reporting record revenues and continued, consistent profitability, our ability to significantly increase our cash balances over the past year is a very encouraging sign of the health of our business. Looking ahead, we expect to achieve record revenues and operating earnings in 2010 by continuing to execute on our strategy and invest in our growth,” stated Steven G. Anderson, president and chief executive officer.
China Armco Metals, Inc. (NYSE Amex: CNAM)
China Armco Metals to Use $15 Million Line of Credit Secured From ING Bank N.V. to Expand Its Distribution Business in 2010
Kexuan Yao, Chairman and CEO of China Armco Metals, Inc., commented, “We are pleased to have the additional financial flexibility for our needs in 2010 with this $15 million line of credit from ING Bank. We see continued evidence of expansion in the Chinese economy and are confident that the use of this facility will enable us to opportunistically grow our distribution business leading to enhanced top and bottom line results.
Novavax Inc. (Nasdaq: NVAX)
Novavax presents swine flu vaccine data
Novavax presents swine flu vaccine data at WHO conference, larger study in progress
In December, the company said the vaccine prompted an immune system response in patients during a midstage study being conducted in Mexico. Novavax has said its vaccine can be grown in weeks instead of the months it takes to make a traditional vaccine. Most flu vaccines are grown inside chicken eggs, but Novavax uses genetically engineered virus-like particles, which resemble a virus but do not have the genetic material a virus needs to reproduce itself.
GenVec, Inc. (Nasdaq: GNVC)
GenVec Announces Contract With The Department of Homeland Security
Today GenVec, Inc. (Nasdaq:GNVC) announced a new contract with the Department of Homeland Security (DHS) to continue the development of adenovector-based vaccines against foot-and-mouth disease (FMD) based on research and development done in collaboration with USDA-ARS and DHS S&T scientists at the Plum Island Animal Disease Center. Under this new agreement, GenVec will receive $3.8 million in program funding the first year and an additional $0.7 million if DHS exercises its renewal option under the contract.
TASER International, Inc. (Nasdaq: TASR)
TASER International Reports Record Revenue of $104 Million for 2009
Revenues Increase 12.3% Over Prior Year
“Our people delivered record revenues in the toughest economic environment of our lifetimes,” said Rick Smith, Co-founder and CEO of TASER, International. “On top of the challenging economic climate, we completed some very ambitious internal initiatives – including implementing a highly-automated cartridge production line, launching the next generation ECD – the X3, and launching field trials of our powerful end-to-end digital evidence collection and management solution – AXON and EVIDENCE.COM.”
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