3-26-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are moving higher as Greece receives debt aid package
Stocks rose Friday morning after European leaders agreed to a bailout program for debt-burdened Greece.
A slightly worse-than-expected revision to the nation’s fourth-quarter gross domestic product had little effect on trading. The report confirmed that the economy still grew rapidly during the last three months of the year because of government stimulus measures and companies replenishing their inventories.
U.S. investors welcomed a joint European Union and International Monetary Fund aid program that will help Greece and other European nations facing rising debt. Stocks pulled back from morning highs on Thursday as concern grew that meetings between European leaders would not result in a rescue program.
The deal reached late Thursday will not make money immediately available to Greece, but instead act more as a safety net. Greece or other members of the 16-nation eurozone will be able to receive money if they cannot raise it on their own.
Heavy debt loads in Greece and other European countries had been one of the few drags on an otherwise rising stock market in recent months. Investors have been concerned that mounting debt in places like Greece, Portugal and Spain would spread and upend a nascent global economic recovery.
The reassurance that Greece will get aid, if necessary, helped the euro rise against the dollar, bouncing off 10-month lows seen earlier this week.
The weaker dollar pushes up demand for commodities, which are priced in dollars. That in turn should boost U.S. energy and material stocks. Gold and oil both rose.
In early morning trading, the Dow Jones industrial average rose 25.47, or 0.2 percent, to 10,866.68. The Standard & Poor’s 500 index rose 2.95, or 0.3 percent, to 1,168.68, while the Nasdaq composite index rose 9.96, or 0.4 percent, to 2,407.37.
Yesterday’s Top Performing Small Cap Stock:
YesDTC Holdings, Inc. (OTCBB: YESD)
YesDTC Holdings, Inc. was a SmallCapVoice.com top performer yesterday closing up over 47% on trading volume of 138,200 shares.
YesDTC Holdings, Inc. is a direct-to-consumer marketing company specializing in direct response television (DRTV), Internet and retail marketing programs. The Company brings a unique set of skills to this marketplace. YesDTC combines both creative talents and financial acumen to create a total package for direct-to-consumer marketing programs. We have formed a strategic partnership with Schulberg Media Works (SMW), one of the pioneering firms in the direct-to-consumer space. SMW’s track record is impressive with nearly $1 billion in revenues and a strong track record of industry awards. SMW campaigns include Tempur-Pedic, Guthy-Renker, Sony, 24-Hour Fitness, Rhino Records, HarperCollins, PureSleep, among many others.
Today’s SmallCapVoice.com Hot Stock to Watch:
VitaminSpice (OTCBB: VTMS)
VitaminSpice and Source Atlantique Sign National Distribution Agreement
WAYNE, Pa., March 25 /PRNewswire-FirstCall/ — Poised and ready to hit retailers’ shelves, VitaminSpice (OTC Bulletin Board: VTMS) (German WKN: A0YE4L) (www.VitaminSpice.net) has been selected by Source Atlantique to join their exclusive array of Specialty Food Products.
Source Atlantique, Englewood Cliffs, NJ, is the most trusted name in specialty foods importing, marketing and distribution. “We specialize in discovering the best products in every culinary category, then cultivating their strengths, and nurturing each throughout the marketplace. Our roster of artisanal brands has been carefully selected for superior quality and limitless potential – for the kitchen as well as the market and we expect an excellent response for the VitaminSpice product line,” stated Joel Schuman, President, Source Atlantique.
Other Small Cap News
Hyperdynamics Corporation (NYSE Amex: HDY)
Hyperdynamics Reaches Agreement With Government of Guinea on Production Sharing Contract Terms
SUGAR LAND, Texas, March 25 /PRNewswire-FirstCall/ — Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it and the Government of the Republic of Guinea have executed an amendment to the 2006 Production Sharing Contract (PSC). The document was signed by the Guinean Minister of Mines and Geology, Mahmoud Thiam; the Minister of Finances and Economy, Kerfala Yansane; and Ray Leonard, Hyperdynamics’ President and Chief Executive Officer. A decree giving the Government’s formal agreement to the assignment of a 23% interest to Dana Petroleum in the PSC is being prepared and will be issued in the near future.
Lucas Energy, Inc. (MYSE Amex: LEI)
Lucas Energy Announces Drilling Begins on Wilson County Re-Entry Well
HOUSTON, March 25, 2010 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the “Company”) based in Houston, Texas, today announced that the Company began the re-entry of the Ebrom No.1 well on March 19, 2010. The well is a re-entry of a straight hole well in the Austin Chalk formation. The well is expected to be completed within the next few weeks.
CombinatoRx Inc. (Nasdaq: CRXX)
CombinatoRx turns $25.2 M profit in 2009 4Q
CombinatoRx turns $25.2 million profit in 4th-quarter on big gains from acquisition
CAMBRIDGE, Mass. (AP) — Biotech drug developer CombinatoRx Inc. said Thursday it turned a $25.2 million profit in the final quarter of 2009, as it cut research costs and saw big gains from the completion of an acquisition.
The Cambridge, Mass., company said it earned 57 cents per share in the three months that ended Dec. 31. That compares with a $15.2 million loss, or 43 cents per share, in the final quarter of 2008.
China Cablecom Holdings, Ltd. (Nasdaq: CABL)
China Cablecom Reports an Additional $422K in Debt Cancellation during Third Round of Equity Conversions
Cumulatively $1.7M in principal debt reduced as debt holders continue to convert Series A Preferred Shares
China Cablecom Holdings, Ltd. (“China Cablecom” or the “Company”) (Nasdaq:CABL) (Nasdaq:CABLW) (Nasdaq:CABLU), a joint-venture provider of cable television services in the People’s Republic of China, is pleased to report a third series of reductions of approximately $422,000 in its outstanding debt, resulting from the conversion of approximately 1.2 million of the Company’s Series A Preferred Shares into Ordinary Shares.
GenCorp Inc. (NYSE: GY)
Aerojet’s Advanced Third Stage Technology Demonstration Motor Successfully Tested by Air Force
Aerojet, a GenCorp (NYSE:GY) company, and the U.S. Air Force conducted a successful static test of Aerojet’s Advanced Third Stage (A3S) technology demonstration motor in support of the U.S. Family of Motors for military and commercial applications.
Magellan Petroleum Corporation (Nasdaq: MPET)
Magellan Petroleum Corporation Announces Agreement to Acquire an Interest in the Evans Shoal Natural Gas Field, Offshore Australia
Magellan Petroleum Corporation (Nasdaq:MPET) (ASX:MGN.ax) announced the execution of an agreement by its wholly-owned subsidiary, Magellan Petroleum Australia Limited (MPAL), with Santos Limited (Santos) to purchase Santos’ 40% interest in the Evans Shoal natural gas field (NT/P48), located in the Bonaparte Basin offshore Northern Australia.
Smart Modular Technologies Inc. (Nasdaq: SMOD)
Smart Modular posts 2Q profit on higher revenue
Smart Modular posts fiscal 2Q profit on higher revenue, beating analyst views; shares soar
Smart Modular Technologies Inc. reported a profit for the fiscal second quarter on Thursday as improved customer demand and higher pricing lifted revenue by nearly half.
PLATO Learning, Inc. (Nasdaq: TUTR)
PLATO Learning Enters into Merger Agreement with Thoma Bravo
Shareholders to receive $5.60 per share in cash; transaction valued at $143 million
PLATO Learning, Inc. (Nasdaq:TUTR), a leading provider of K-adult online learning solutions, today announced it has entered into a definitive agreement to be acquired by an affiliate of Thoma Bravo, LLC in a transaction valued at approximately $143 million. The PLATO Learning board of directors unanimously approved the agreement and will recommend that the Company’s shareholders approve the transaction.
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