Francesca Levy, AP Business Writer
Stocks stabilize as Italy pledges action on debt
Stocks stabilize after successful bond auction in Italy; country promises action on austerity
NEW YORK (AP) — A promise from Italy to fast-track austerity measures nudged stock indexes slightly higher Tuesday. Investors are still worried that Italy might become the next European country to need help managing its debts.
A successful auction of new Italian government bonds also reassured markets that the country will be able to manage on its own without backstops from international lenders like the International Monetary Fund. A default by Italy, the third-largest economy in Europe, would cause far more damage to the global financial system than one by Greece, which is much smaller.
The Standard & Poor's 500 index and the Dow Jones industrial average bounced between small gains and losses. The Standard & Poor's 500 index rose 1 point, or 0.1 percent, to 1,321 in afternoon trading. The Dow rose 2 points to 12,512.
Italian finance minister Giulio Tremonti said budget cuts originally scheduled for August would be passed by this Sunday. The news sent Milan's main stock index up 1.2 percent.
Yesterday's Top Performing Small Cap Stock:
Advanced Medical Isotope Corp. ADMD
Advanced Medical Isotope Corp. was a SmallCapVoice.com top performer closing up over 2% on trading volume of 42,475 shares.
Solving a global medical crisis with American labs and safer technology
Just last year, thousands of patients worldwide had diagnostic imaging tests delayed or cancelled due to a worldwide shortage of a key compound to create the image, molybdenum 99, also known as Moly 99 or Mo-99. Currently, the primary suppliers of this key compound are aging nuclear reactors outside the United States. In 2010, two of the world's five Moly-99-producing reactors experienced production problems, shutting off much of the world's supply for weeks.
Advanced Medical Isotope Corporation ADMD, AMIC, is one company stepping up to create this critical compound domestically. Unlike suppliers just a few years ago, the company plans on manufacturing the isotope without using highly enriched uranium, a substance that could be used by terrorists to create horrific weapons.
Today's SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company TOOT
Tootie Pie Company Executes on Accelerated Growth Plan
Even before a highly successful Fourth of July weekend, Tootie Pie enjoyed a 20 percent increase in revenue and an 88 percent increase in retail sales. The pie company, ticker symbol TOOT, has expanded heavily into retail cafes, greatly increasing its sales margin on each pie. “As the next six months unfold, the company is well on its way to double its revenues,” said Don L. Merrill, Jr. President & CEO. “It should be a game changer.”
The expansion in retail cafes is a huge and critical step for Tootie Pie, which already has a proven track record selling pies via wholesale and mail order. While sales have grown consistently, they were concentrated around the holiday seasons; causing the business to rely on a strong fourth quarter for most of its profits.
SmallCapVoice Clients' News
Scorpex, Inc. (Pink Sheets: SRPX)
Audio Interview With Joseph Caywood, Chief Executive Officer of Scorpex Inc., Now Available at SmallCapVoice.com
AUSTIN, Texas, July 12, 2011 /PRNewswire/ — SmallCapVoice.com, Inc. announced today that a new audio interview with Scorpex, Inc. SRPX is now available. The interview can be heard at http://smallcapvoice.com/blog/7-8-11-audio-interview-with-scorpex-inc-pink-sheets-srpx.
Other Small Cap News
Green EnviroTech Holdings Corp. GETH
Green EnviroTech Holdings Corp. Announces Intention to Enter Tire Recycling Market
BOCA RATON, FL — (Marketwire) — 07/12/11 — Green EnviroTech Holdings Corp. GETH Chairman and CEO Mr. Gary De Laurentiis announced today that Green EnviroTech is planning to establish two tire recycling plants in the United States using the latest technology from East Asia.
The technology, which is currently in operation in nine locations in East Asia, has been evaluated at length by GETH who dispatched an engineer for onsite analysis in March 2011. The reports received confirm the viability of the system which converts discarded used tires to oil. Part of the onsite analysis was to assess the quality of the oil produced and, importantly, for use in the United States, to also assess the emission levels from the plants. Oil sample test results confirmed that converted oil was well within required levels for the United States, that emission levels were well within the limits imposed in the United States, and the tire conversion plants were superior to other systems analyzed by GETH in operation worldwide.
P2 Solar, Inc. PTOS
P2 Solar Signs 76.5 Million Dollar Solar Project in Bulgaria
SURREY, BRITISH COLUMBIA — (Marketwire) — 07/12/11 — P2 Solar, Inc. (the “Company”) PTOS is pleased to announce that it has executed an option agreement to develop a 7.3 Mega Watt solar power farm with a 20 year gross revenue of 76.5 Million USD. The shovel ready project is located in south-western Bulgaria near the Greek border and has land secured, all required permits are in place and a 20 year government Power Purchase Agreement (PPA), is signed.
The company recently appointed a Bulgarian consultant who has been working with management to identify potential solar projects. The company has had a team working in Bulgaria for the months of June and July reviewing numerous opportunities and is now performing due diligence and technical analysis on the 7.3MW project site. The project is slated to be constructed on a 35+ acre parcel of land perfectly suited for a PV solar farm.
Trio-Tech International (NYSE Amex: TRT)
Trio-Tech Wins $2.9 Million of Oil and Gas Equipment Fabrication Contracts
Jul. 12, 2011 (Business Wire) — Trio-Tech International TRT announced today that its PT SHI Indonesia subsidiary, a Batam-based manufacturer, equipment fabricator and provider of project management services for the oil and gas industry, has been awarded contracts valued at a total of $2.9 million to manufacture components for mobile offshore production units and living quarters for customers involved in offshore oil exploration in Southeast Asia. Work under these contracts is expected to be completed in September 2011.
Conmed Healthcare Management, Inc. (NYSE Amex: CONM)
Conmed Healthcare Management, Inc. to Be Acquired at $3.85 Per Share in Cash
Jul. 12, 2011 (Business Wire) — Conmed Healthcare Management, Inc. (NYSE Amex: CONM), a leading full service provider of correctional facility healthcare services to county and municipal detention centers, today announced that it has entered into a definitive merger agreement to be acquired by Ayelet Investments LLC, an affiliate of James H. Desnick, M.D., for $3.85 per share in cash, or an aggregate purchase price of approximately $57.2 million. The board of directors of Conmed has unanimously approved the transaction.
About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its audio interviews, as well small cap company's financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our company information sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
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