3-31-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are lower following a worse-than-expected jobs report
Stock fell early Wednesday after a payroll company’s report provided a sobering reminder that the job market remains weak.
ADP said employers slashed 23,000 jobs in March. Economists surveyed by Thomson Reuters had forecast the report would show employers added 40,000 jobs during the month. The ADP report is seen as an early indicator of the Labor Department’s employment report due out Friday. However, there can be wide variations because ADP only accounts for private-sector jobs.
Economists expect the Labor Department’s report to show employers added 190,000 jobs in March. It would be only the second monthly increase in jobs since the recession began in late 2007. The number could be somewhat inflated because the government hired temporary workers to conduct the 2010 census.
The weak ADP report could temper some expectations for Friday’s data.
Employment growth is considered vital to a strong, sustained recovery because it will give consumers more confidence to go out and spend on goods and services. And consumer spending is the biggest driver of economic activity in the country.
In early morning trading, the Dow Jones industrial average fell 20.86, or 0.2 percent, to 10,886.56. The Standard & Poor’s 500 index fell 2.59, or 0.2 percent, to 1,170.68, while the Nasdaq composite index fell 3.374, or 0.1 percent, to 2,407.35.
Yesterday’s Top Performing Small Cap Stock:
Fleet Management Solutions Inc. (Pink Sheets: FLMG)
Fleet Management Solutions, Inc. was a SmallCapVoice.com top performer yesterday closing up over 4% on trading volume of 25,996 shares.
Based in Athens, Greece, Fleet Management Solutions (FMS) currently owns and operates 3 commercial locations with 26 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as a result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. By combining decades of experience, FMS was formed and is focused on providing fleet management services and solutions in the automotive aftermarket. The Company is focused on utilizing its vast automotive industry experience and its “state of the art” technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles. FMS utilizes authorized dealership networks and the BOSCH Car Service Network with 120 service locations in Greece.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company (OTCBB: TOOT)
Tootie Gets Her Groupon!
SAN ANTONIO–(BUSINESS WIRE)–Tootie Pie Company, Inc. (OTCBB:TOOT) reports that its first ever Groupon email campaign was a huge success, with over 2,400 possible new customers to visit either of the Tootie Pie Gourmet Café locations.
SmallCapVoice Clients’ News
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies Acquires Award Winning Cam-Bel Media Inc.
TIE Technologies, Inc. (Pink Sheets:TTCS), 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 the acquisition of the national award winning multi-media marketing services company, Cam-Bel Media.
Other Small Cap News
Sparton Corp. (NYSE: SPA)
Sparton gets $14.5M Navy subcontract
Sparton gets $14.5 million subcontract to make sonobuoys for US Navy
Electronics manufacturer Sparton Corp. won a $14.5 million subcontract to make the components in high-tech buoys for the U.S. Navy, the company said Wednesday.
As part of a joint venture with Sparton Electronics Florida Inc. and Undersea Sensor Systems Inc., Spartan will produce subassemblies for “sonobuoys,” special buoys that can detect underwater movement, for the United States Naval Antisubmarine Forces.
New Gold Inc. (NYSE Amex: NGD)
New Gold Announces Update Related to Sale of Amapari Mine
New Gold Inc. (“New Gold”) (TSX and NYSE AMEX: NGD) today announces that Beadell Resources Ltd. (“Beadell”) has received bids from investors to subscribe for at least A$57 million of ordinary shares of Beadell in relation to the previously-disclosed sale of New Gold’s Brazilian subsidiary Mineração Pedra Branca do Amapari Ltda. (“MPBA”), which holds the Amapari mine and other related assets.
Vimicro International Corporation (Nasdaq: VIMC)
Vimicro Provides Preliminary Revenue Results for the Fourth Quarter of 2009
Vimicro International Corporation (Nasdaq:VIMC) (“Vimicro”), a leading multimedia semiconductor and solution provider, today announced preliminary revenue results for the fourth quarter ended December 31, 2009.
Celsion Corporation (Nasdaq: CLSN)
Drug Safety Monitoring Board Recommends Continuation and Dose Escalation in Celsion’s Phase I/II ThermoDox(R) Study for Recurrent Chest Wall Breast Cancer
50mg/m2 to be evaluated for the maximum tolerated dose in the DIGNITY Trial
Celsion Corporation (Nasdaq:CLSN) announced today that after reviewing safety data from the 40mg/m2 cohort, the DIGNITY Study Drug Safety Monitoring Board (DSMB) has recommended that Celsion continue to enroll patients in the trial and that new patients be treated at a ThermoDox® dose of 50mg/m2.
ArQule, Inc. (Nasdaq: ARQL)
ArQule Announces Results of Phase 2 Trial with ARQ 197 in Advanced Non-Small Cell Lung Cancer
ARQ 197 in combination with erlotinib prolongs median progression free survival
ArQule, Inc. (Nasdaq: ARQL) today announced that ARQ 197, when used in combination with erlotinib, demonstrated a 66% improvement in median Progression-Free Survival (PFS) in patients with advanced, refractory non-small cell lung cancer (NSCLC). In the intent to treat (ITT) population (n = 167), median PFS was 16.1 weeks in the ARQ 197 plus erlotinib arm, compared with 9.7 weeks in the erlotinib plus placebo arm.
Recon Technology, Ltd. (Nasdaq: RCON)
Recon Technology Secures New Automation System Order for Chinese Oil Field
Recon Technology, Ltd. (Nasdaq:RCON), a leading Chinese non-state-owned oil and gas automation services provider, announced today that it has received a new automation system order from China Petroleum & Chemical Corporation (Sinopec).
Nymox Pharmaceutical Corporation (Nasdaq: NYMX)
Nymox’s Phase 3 First in Class NX-1207 Drug in Development for Multiple Indications
Excellent Safety Profile for NX-1207 in BPH Studies Major Advantage for Planned Clinical Trials for Prostate Cancer and Hepatocellular Carcinoma
Nymox Pharmaceutical Corporation (Nasdaq:NYMX) outlined today the Company’s development program for the Company’s lead drug candidate, NX-1207, currently in Phase 3 trials in the U.S. for the treatment of benign prostatic hyperplasia (BPH). The drug has been successful in a series of blinded controlled multi-center U.S. clinical trials where it has been found to produce improvements that are about double that reported for currently approved BPH drugs.
Versar, Inc. (NYSE Amex: VSR)
Versar Awarded $7.6 Million Contract by U.S. Environmental Protection Agency
Versar, Inc. (NYSE Amex:VSR) announced today that it was awarded a five-year, $7.6 million contract to review and evaluate pesticide product and residue chemistry data by the Office of Pesticide Programs (OPP), Health Effects Division (HED), of the U.S. Environmental Protection Agency (EPA). The EPA’s award of this new contract to Versar increases the total number of contracts to six currently managed by Versar’s Exposure and Risk Assessment Division.
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