3-5-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are higher after the jobs report showed fewer jobs were cut in February than expected
The Labor Department’s monthly report is widely seen as the most important economic indicator because employment is considered a key ingredient for a strong, sustained recovery.
Employers cut 36,000 jobs last month, better than the 50,000 cuts forecast by economists polled by Thomson Reuters. The unemployment rate held steady at 9.7 percent. Economists were expecting it to rise to 9.8 percent.
Overseas markets rose after a successful bond sale by debt-burdened Greece and upbeat signs in the U.S. economy. Budget and debt problems in Greece have dogged the markets in recent months.
Friday’s gains on top of a late-day rally in stocks Thursday indicates that investors are optimistic the U.S. economy is improving. Though employers aren’t yet adding full-time staff, jobs growth is fundamental to a recovery because it puts money in more workers pockets, allowing them to increase spending. Consumer spending accounts for about 70 percent of economic activity.
In early trading Friday, the Dow Jones industrial average rose 53.66, or 0.5 percent, to 10,497.80. The Standard & Poor’s 500 index gained 5.91, or 0.5 percent, to 1,128.88, while the Nasdaq composite index added 11.15, or 0.5 percent, to 2,303.46.
Yesterday’s Top Performing Small Cap Stock:
VitaminSpice (OTCBB: VTMS)
VitaminSpice was a SmallCapVoice.com top performer yesterday closing up over 4% on trading volume of 2,500 shares.
VitaminSpice is uniquely positioned between the $100 billion health food/vitamin supplement industry and the multi-trillion-dollar traditional food industry. A pioneer in the emerging foodceutical industry, VitaminSpice sells vitamin-, mineral- and antioxidant-infused spices and food products. Their offerings include Crushed Red Pepper, Ground Black Pepper, Sea Salt, Italian Seasoning, Ground Cinnamon and Granulated Garlic. A proprietary micro-encapsulation process keeps vitamin properties locked inside, even when heated, allowing the food products to retain their full flavor.
Today’s SmallCapVoice.com Hot Stock to Watch:
CMG Holdings, Inc. (OTCBB: CMGO)
CMG Holdings, Inc. www.cmgholdingsinc.com is a full service global marketing and communications holding company operating in the sectors of talent management, event management and commercial rights and is headquartered in Miami, Florida with a marketing and sales office in New York, Chicago and Los Angeles. An audio interview will be available this afternoon.
Other Small Cap News
Servidyne, Inc. (Nasdaq: SERV)
Servidyne Expects Higher 3rd Quarter Backlog
Servidyne, Inc. (Nasdaq: SERV), an energy efficiency, demand response and real estate company, announced today that it expects its fiscal third quarter results, which the Company will report later this month, will reflect an order backlog at its core Building Performance Efficiency (“BPE”) Segment that exceeded $8.6 million as of January 31, 2010, an increase of more than 22% from the backlog at October 31, 2009, the end of the Company’s second quarter. Beginning in September 2009, new order bookings increased in each successive month through January 2010, as the BPE Segment received approximately $5 million in new orders from customers in both the private sector and the government sector during the third quarter ended January 31, 2010.
Blockbuster Inc. (NYSE: BBI)
Blockbuster Moving Beyond Reliance on DVDs: CEO
“We’re in the middle of a dramatic transformation,” said James Keyes, Blockbuster’s CEO. “During the course of this transformation, we’re moving away from a total reliance on DVDs and now a different form of distribution for both DVDs and digital content. We’re building new channels.”
Golden Star Resources Ltd. (NYSE Amex: GSS)
Golden Star Reports New Discovery at Prestea Concession
Mitch Wasel, Vice President Exploration, commented, “The discovery of an extensive and totally new deposit in a historically mined area such as Buesichem is a testament to the continued potential for further discoveries along the Ashanti Trend particularly through the application of the VTEM technology. This discovery could have a significant impact on the optimization and design of the Buesichem pit. Drilling is still on-going and a resource estimation exercise is expected to be undertaken in the second half of this year to evaluate the impact of this new discovery.”
Glen Rose Petroleum Corporation (Nasdaq: GLRP)
Glen Rose Petroleum Corporation Receives $4,350,000 Funding to Develop Wardlaw Leases
Glen Rose Petroleum Corporation (Nasdaq:GLRP), Katy, Texas, has closed on a funding totaling $4,350,000 from Iroquois Capital Opportunity Fund, LP (“ICO”). The transaction consists of $3,350,000 in secured convertible notes and warrants and $1,000,000 for the purchase of an undivided 12.5% working interest in the non-producing portions of its leases in the Wardlaw Field in Edwards County, Texas.
Regenerx Biopharmaceuticals Inc. (NYSE Amex: RGN)
Researchers Report that Thymosin beta 4 Improves Neurological Function after Stroke
Regenerx Biopharmaceuticals Inc. (NYSE Amex: RGN) announced that a research team from the Henry Ford Hospital in Detroit, MI reported that Thymosin beta 4 (Tβ4), administered to rats one day after embolic stroke, improved neurological functional outcome compared to control animals. Improvement in neurological function was measured at various time intervals over a seven week period and was statistically significant.
Apollo Gold Corporation (NYSE Amex: AGT)
Apollo Gold’s First Assay Results from Drilling at Pike River Property Show High Grade Gold Mineralization
Apollo Gold Corporation (“Apollo”) (NYSE Amex: AGT) (TSX: APG) announces that its first drill assay results intercepted high grade gold mineralization at the Pike River Project, located between its Black Fox gold mine and Grey Fox Project, including a true width drill interval of 0.8 meter (“m”) at an average gold grade of 86.0 grams per tonne (“gpt”) within 4.2 m of 19.4 gold gpt in hole GF09-65.
Fronteer Development Group Inc. (NYSE Amex: FRG)
Fronteer: Drilling Returns 1.23 Ounces Per Ton Gold Over 24.8 Feet at Sandman, Nevada
Fronteer (TSX:FRG) (NYSE Amex: FRG) announces today that drilling by Newmont USA Limited (“Newmont”), a wholly owned subsidiary of Newmont Mining Corporation, has intersected additional bonanza-grade, near-surface oxide gold at Sandman, one of three high-quality Nevada gold projects in Fronteer’s future production platform.
Headwaters Incorporated (NYSE: HW)
Headwaters Provides Update During 2010 Analyst Day Held in New York City
Light Building Products and Heavy Construction Materials Well Positioned to Rebound with Economy
Management provided a comprehensive update on the Company’s operations at this event which featured presentations by Chairman and CEO Kirk Benson, Treasurer Scott Ballard, and business unit executives Jack Lawless, Mike Adams, Murphy Lents, and Dave Ulmer.
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