3-17-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are higher after U.S. and Japanese central banks reaffirmed plans to keep interest rates low to revive economic growth
A report on inflation at the wholesale level provided further assurance that the Federal Reserve shouldn’t have to raise its key lending rate anytime soon. The Fed said Tuesday it would hold its key interest rate at historic lows.
Japan led overseas markets higher after its central bank kept a key interest rate at 0.1 percent and expanded money available through its short-term lending program.
The Labor Department’s Producer Price Index fell 0.6 percent in February, its steepest drop in seven months. Economists polled by Thomson Reuters forecast a drop of 0.2 percent.
A slide in energy prices helped push the index lower last month. Excluding volatile energy and food costs, the index rose 0.1 percent. That was in line with expectations.
The benign figures back up the Fed’s belief that inflation isn’t a concern, allowing it to maintain low lending rates. The Fed wants to keep rates low to encourage economic growth. Economic reports in recent months have shown the recovery has been slow and uneven. High unemployment remains the biggest stumbling block to a sustained rebound. Unemployment totaled 9.7 percent in February.
In midmorning trading, the Dow Jones industrial average rose 23.96, or 0.2 percent, at 10,709.94. The Standard & Poor’s 500 index rose 4.42, or 0.4 percent, at 1,163.88, while the Nasdaq composite index rose 9.49, or 0.4 percent, at 2,387.50.
Yesterday’s Top Performing Small Cap Stock:
GWS Technologies, Inc. (OTCBB: GWSC)
GWS Technologies, Inc. was a SmallCapVoice.com top performer yesterday closing up over 11% on trading volume of 70.927 shares.
In A New Audio Interview at SmallCapVoice.com, Richard Reincke, CEO of GWS Technologies, Inc., Provides Details Regarding Recent News.
Today’s SmallCapVoice.com Hot Stock to Watch:
Attitude Drink Company, Inc. (OTCBB: ATTD)
Attitude Drinks Inc. (OTCBB: ATTD) Announces Distribution Agreement With High Five Distributors
Phase III Recovery(R) Shipping Today for Initial New York Launch
PALM BEACH GARDENS, FL–(Marketwire – 03/17/10) – Attitude Drinks, Incorporated (OTC.BB:ATTD) announced today that Phase III ‘Recovery’(R) will be distributed by High Five Distributors, a company that currently services 3,000 retail stores within the New York Metro Area. High Five Distributors is the master distributor for Power Ball Energizing Juice. The initial shipment of Chocolate flavored Phase III occurs today, March 17, 2010. Vanilla Flavored Phase III will be available for shipment in spring of 2010.
Other Small Cap News
International Tower Hill Mines Ltd. (NYSE Amex: THM)
International Tower Hill Mines Ltd. Announces CAD 30,000,000 Non-Brokered Equity Financing
International Tower Hill Mines Ltd. (“ITH” or the “Company”) (TSX:ITH)(AMEX:THM)(Frankfurt:IW9) is pleased to announce a proposed non-brokered financing of up to 5,000,000 common shares of the Company at a price of CAD 6.00 per common share (the “Offering”) in the United States and Canada. The Company will pay a 6% finder’s fee payable in cash and/or common shares on a portion of the Offering.
Vista Gold Corp. (NYSE Amex: VGZ)
Vista Gold Corp. Announces Year-End Financial Results
Mike Richings, Executive Chairman and CEO, commented on the 2009 financials: “Our financial results continue to reflect high levels of activities at our Paredones Amarillos gold project in Baja Sur California, Mexico, and the Mt. Todd gold project in Northern Territory, Australia. Funding for these programs in 2009 came mainly from working capital and the sale of common shares of Allied. In anticipation of continued significant levels of activity at these projects, the Company successfully raised a total of US$20.4 million net of expenses through a common share offering completed in September 2009. In 2009 at Mt. Todd, we increased gold resources and completed a preliminary economic assessment. During the second half of the year we commenced work on a preliminary feasibility study for the Mt. Todd project which we hope to complete by the end of the second quarter of 2010″.
ThermoGenesis Corp. (Nasdaq: KOOL)
ThermoGenesis Signs Asia Distribution Agreement With Fenwal for BioArchive and AXP Systems
New agreement to focus on growing medical markets in China, India and Japan
ThermoGenesis Corp. (Nasdaq:KOOL), a leading supplier of innovative products for processing and storing adult stem cells, announced today it has signed a new distribution agreement with Fenwal, Inc., a global medical technology company focused on improving blood collection, separation, safety and availability. Under the exclusive five-year agreement, Fenwal will market and distribute the ThermoGenesis AXP(R) AutoXpress(TM) (AXP) System and BioArchive(R) System for use in cord blood processing and storage in China, India and Japan.
TranSwitch Corporation (Nasdaq: TXCC)
TranSwitch Corporation Announces Credit Facility with Bridge Bank N.A.
TranSwitch(R) Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions for the converging voice, data and video network, today announced that it has entered into a new credit facility agreement with Bridge Bank N.A., a subsidiary of Bridge Capital Holdings (NASDAQ: BBNK – News). The facility is for up to $5 million with availability determined by the company’s outstanding accounts receivable.
Sterling Financial Corporation (Nasdaq: STSA)
Sterling Financial Corporation of Spokane, Wash., Provides Update on Plan to Improve Capital Position
Sterling Financial Corporation (NASDAQ:STSA) today said it is in active negotiations with several private equity investors, its major creditors and its regulators about various strategic alternatives designed to put Sterling on a sound financial footing and to allow it to recapitalize and grow its business.
Denny’s Corporation (Nasdaq: DENN)
Denny’s Selected as Full Service Operator of Choice for Pilot Travel Centers
Potential For Up to 190 New Denny’s Locations
Denny’s Corporation (Nasdaq:DENN) today announced that it has been selected as the full-service restaurant operator of choice for Pilot Travel Centers LLC (“Pilot”), one of the nation’s largest retail operators of travel centers catering to the professional driver and traveling motorist in 41 states with over 300 retail interstate properties. Pilot is in the process of merging with Flying J Travel Centers (“Flying J”), subject to final approval by the Federal Trade Commission (FTC).
Phazar Corp. (Nasdaq: ANTP)
Phazar Corp. Announces Third Quarter 2010 Financial Results
Commenting on the quarter, Garland P. Asher, Chairman and CEO, said, “After showing substantial sales and incoming order improvement in December and January over the prior year, the sluggish tone returned in the month of February for both. Further, the sales and order picture was mixed. While we continued to see very solid gains in commercial lines, the traditional government based orders remain the weakest part of our business. On a more positive note the gross margin improvement achieved in the second fiscal quarter continued in the third, which has allowed us to continue our R&D investment and our cash position remains strong at over two million dollars.”
VirnetX Holding Corporation (NYSE Amex: VHC)
McKool Smith Announces $105.75 Million Verdict for VirnetX in Patent Infringement Lawsuit Against Microsoft
VirnetX, a supplier of tools for securing real-time communications over the Internet, sued Microsoft in February 2007 based on claims that the software giant had infringed two VirnetX patents, U.S. Patent No. 6,502,135 and No. 7,188,180. The ‘135 patent covers a method of transparently creating a virtual private network (VPN) between a client computer and a target computer. The ‘180 patent covers a method for establishing a VPN using a secure domain name service.
AmeriLithium (OTCBB: AMEL)
AmeriLithium Acquires 650,000+ Acre Lithium Asset in Alberta, Canada
The Americana Property is one of the largest claims if its type in the region, representing ~664,049 acres overlying a potential extension of the Leduc Formation and Beaverhill Lake Group Strata/Swan Hills Formation. These two formations were identified by the Alberta Geological Survey (AGS) as containing formation waters containing potentially economic amounts of lithium.
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