Stocks are flat after a report showed improvement in the labor market remains tepid
Major indexes had rallied sharply Wednesday as traders returned their focus to the domestic economy as worries about debt problems in Europe began to ease. But Thursday’s unemployment claims report was disappointing.
The Labor Department said that first-time claims for jobless benefits dipped to 444,000 last week from an upwardly revised 448,000 the previous week. Economists had expected claims to drop to 440,000.
While a fourth straight weekly drop in claims is a positive sign, claims have not dropped far enough yet to signal sustainable job growth. Economists estimate weekly initial claims need to fall below 425,000 to show employers are consistently adding new workers.
Claims have stalled around the 450,000 level throughout the year.
High unemployment remains a primary obstacle to a strong recovery. The unemployment rate jumped to 9.9 percent last month, even though employers added 290,000 jobs. Investors will want to see consistent monthly job growth and weekly drops in claims to become more confident that the labor market is significantly improving.
In early morning trading, the Dow Jones industrial average rose 10.89, or 0.1 percent, to 10,907.80. The Standard & Poor’s 500 index rose 0.68, or 0.06 percent, to 1,172.35, while the Nasdaq composite index rose 7.67, or 0.32 percent, to 2,432.69.
Yesterday’s Top Performing Small Cap Stock:
Vidaroo Corporation VIDA
Vidaroo Corporation was a SmallCapVoice.com top performer yesterday closing up over 25% on trading volume of 105.064 shares.
Vidaroo Corporation, the premier video publishing software, content production and online video network (formerly Gen2Media Corporation) and NARM, the music business association, recently announced a new partnership for the 2010 NARM Convention and Music Business Crash Course that will take place at the Hilton Chicago from Friday, May 14 through Monday, May 17.
Today’s SmallCapVoice.com Hot Stock to Watch:
Aerius International Inc. (Pink Sheets: AERS)
In A New Audio Interview at SmallCapVoice.com, Bill Luxon, CEO of Aerius International Inc., Provides Details Regarding Recent News.
Aerius International Inc., developer of a revolutionary antenna technology for cell phones proven by carriers and in independent laboratories to increase handset battery life 66% and reduce handset power loss into users, or Specific Absorption Rate, 99.4%, is now available.
SmallCapVoice Clients’ News
BRAVADA International Ltd (Pink Sheets: MFLI)
BRAVADA Muscle Flex to Open Its Flagship Retail Store, BRAVADA Women’s Activewear & Fitness Outlet June 1st on Robertson Blvd, a High Profile Shopping District in Los Angeles as Step Two of Its Retail Franchising and Online Merchandising Strategy
May 13, 2010 (Business Wire) — BRAVADA Muscle Flex Inc. (www.BravadaLtd.com) (Pink Sheets:MFLI) announced today that it will open its flagship BRAVADA Women’s Activewear and Fitness retail store June 1st on Robertson Blvd, one of the most well known shopping districts in Los Angeles. Robertson Blvd is home to some of the most high profile retailers including: MAC Cosmetics, Ralph Lauren, Dolce & Gabbana, Kitson as well as the #1 place to be ’seen" for lunch in Los Angeles, The Ivy Restaurant. This flagship BRAVADA location is being developed to launch additional retail locations and expand nationally through a franchise model. At present, BRAVADA Muscle Flex anticipates operating 3 – 5 locations with additional BRAVADA retail showrooms being developed under a franchise strategy. BRAVADA currently has a second location picked and shall proceed in a time frame consistent with developing a replicable franchise model.
Other Small Cap News
Hansen Medical, Inc. HNSN
Hansen Medical Announces FDA Conditional IDE Approval for Evaluating Sensei X Robotic Catheter System for Treatment of Atrial Fibrillation
First Case Completed in Pivotal Clinical Trial
MOUNTAIN VIEW, CA–(Marketwire – 05/12/10) – Hansen Medical, Inc. HNSN announced that it has received conditional Investigational Device Exemption (IDE) approval from the U.S. Food & Drug Administration (FDA) authorizing a clinical trial to investigate use of the Sensei(R) X Robotic Catheter System and the Artisan(TM) Control Catheter for treatment of Atrial Fibrillation (AF). The first case in the ARTISAN AF Trial, a pivotal clinical trial using the Sensei X system for the treatment of AF, was completed May 11, 2010 by Joseph Gallinghouse, M.D., electrophysiologist, at the Texas Cardiac Arrhythmia Institute (TCAI) at St. David’s Medical Center. The Principal Investigator of the trial is Andrea Natale, M.D., F.A.C.C., F.H.R.S., executive medical director for TCAI.
Cavico Corp. CAVO
Cavico Signs $4.3 Million Contract to Construct Diversion Canal at Ban Mong Reservoir
HANOI, Vietnam–(BUSINESS WIRE)–Cavico Corp. CAVO, a leading infrastructure development company based in Vietnam, today announced that its majority-owned subsidiary, Cavico Mining, listed on Hochiminh Stock Exchange MCV, signed a construction contract with Investment & Development Management No.4 to construct a diversion canal for Ban Mong Reservoir. The revenue for this contract is estimated to be $4.3 million. Cavico Mining expects to complete this construction contract within ten months.
ITEX Corporation ITEX
ITEX Corporation Announces First Ever Cash Dividend
BELLEVUE, Wash., May 12 /PRNewswire-FirstCall/ — ITEX Corporation (OTC Bulletin Board:ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, announced today that its Board of Directors has approved the initiation of a cash dividend to its shareholders.
Vical Inc. VICL
Vical posts new data from Allovectin-7 study
Vical stock rises after company reports additional data from study of skin cancer treatment
SAN DIEGO (AP) — Vical Inc. reported new results from a midstage trial of its cancer drug candidate Allovectin-7 on Wednesday, and the results appeared to bode well for other studies of the treatment.
Vical said 15 patients in the study out of a total of 127 had a response to a high dose of the drug, meaning their tumors shrank or disappeared after treatment. Median duration of response was 13.8 months, and median survival for all patients was 18.8 months. The company said one patient who was treated with Allovectin-7 is still alive after five and a half years.
Noah Education Holdings Ltd. NED
Noah Education Announces Unaudited Third Quarter Fiscal 2010 Financial Results
Revenue increased by 18.3% over same quarter fiscal 2009
Commenting on the results, Mr. Xu Dong, Noah’s Chairman and Chief Executive Officer, said, "We delivered a healthy performance in third quarter of fiscal 2010, as net revenues increased 18.3% over same quarter fiscal 2009 to RMB253.7 million and net income climbed 4.9% to RMB36 million. Although our results fell short of our initial expectations, attributable to slower-than-anticipated growth in China’s Electronic Learning Products ("ELP") industry, we were nevertheless encouraged by the growth exhibited in both our ELP and education services segments.
Warren Resources, Inc. WRES
Warren Resources Announces Successful New Tar Reservoir Wells in California
NEW YORK, May 12, 2010 (GLOBE NEWSWIRE) — Warren Resources, Inc. WRES today announced that two new Tar reservoir wells drilled since April 15, 2010 in the Wilmington Townlot Unit ("WTU") in California have been placed on production and have exhibited initial producing rates of approximately 400 barrels of oil per day ("BOPD") combined. Wells drilled to the Tar formation typically experience production decline rates of 40% to 60% in the first year. These are the first two of eight wells in the Tar formation (seven producers and one water injector) budgeted for 2010 and the first wells drilled at WTU since late 2008. Additional wells may be added to the program in the upcoming months, including possible wells in the Upper Terminal and Ford reservoirs. Warren owns a 98.9% working interest in WTU.
Vimicro International Corporation VIMC
Vimicro Reports Fourth Quarter 2009 and Fiscal Year 2009 Financial Results
"Fourth quarter revenue continued to improve representing the third consecutive quarter of growth since the first quarter 2009 low point in the economic cycle," commented Dr. John Deng, Vimicro’s Chairman and Chief Executive Officer. "In addition to strong sales of our notebook camera products during the quarter, Vimicro continued to make significant progress towards leveraging our core technology expertise to further penetrate the growing markets of 3G mobile, home & entertainment and surveillance. Our investments and alliances in 3G multimedia and mobile TV are beginning to reflect in our results as shipments have started to ramp."
APAC Customer Services, Inc. APAC
APAC Customer Services Announces First Quarter 2010 Results
Ends Q1 with $40.7 million in cash and no outstanding borrowings
President and CEO Mike Marrow commented, "We had another very good quarter with solid top-line growth and strong operating margins. The ramping of new business won at the end of last year and early this year is progressing nicely. The consistent performance of our operations and a robust pipeline of new business prospects have us poised for another great year."
RegeneRx Biopharmaceuticals, Inc. (NYSE Amex: RGN)
RegeneRx Awarded $3 Million Grant from National Institutes of Health for Development of Heart Attack Drug
ROCKVILLE, Md.–(BUSINESS WIRE)–RegeneRx Biopharmaceuticals, Inc. (NYSE Amex:RGN) announced today that it has been awarded a $3 million grant from the National Institutes of Health’s National Heart, Lung and Blood Institute to support and accelerate the clinical development of its novel product candidate RGN-352, an injectable formulation of the novel therapeutic peptide Thymosin beta 4, or Tβ4, for patients who have suffered an acute myocardial infarction, or AMI, commonly known as a heart attack. The award is being issued under the American Reinvestment and Recovery Act of 2009. The Company is planning to initiate a Phase 2 clinical trial with RGN-352 later this year.
Emrise Corporation (NYSE Arca: ERI)
EMRISE Receives Production Orders for $1.6 Million in Power Systems for In-Flight Entertainment and Connectivity Systems
EATONTOWN, N.J.–(BUSINESS WIRE)–Emrise Corporation (NYSE Arca: ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received multi-year production orders valued at $1.6 million for power supplies to be used in In-Flight Entertainment (IFE) systems. The products, which were ordered by two longstanding EMRISE customers, will be used for retrofitting existing aircraft with new IFE systems.
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 daily stock picks, audio interviews, as well as its client’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 investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
Contact:
Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com
Related posts
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
