Stocks drop again amid weak economic data
Selling has gained momentum following the May pending home sales figures, which showed a 30.0% month-over-month drop. The dramatic decline was roughly triple the size of the 10.5% slide that economists had expected, on average. That has completely overshadowed news that construction spending for May fell a mere 0.2% when a 0.9% decline had been expected.
A weaker-than-expected ISM Manufacturing reading has only added to the stock market’s downturn. The ISM for June came in at 56.2 after a 59.7 reading in May — the June reading had been expected to come in at 59.0.
The Dow Jones Industrial Average was down by 92 points, or 0.9%, at 9,683. The S&P 500 was losing 11 points, or 1.1%, to 1019 and the Nasdaq was down by 24 points, or 1.2%, to 2085.
Yesterday’s Top Performing Small Cap Stock:
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies, Inc. was a SmallCapVoice.com top performer closing up over 31% on trading volume of 13,911 shares.
TIE Technologies, Inc., and Geocomp Corporation announced that BP and U.S. Coast Guard team is to make final inspection of potential site for the field deployment and testing of the OilDam(TM) in Baldwin County, Alabama.
TIE Technologies’ revised OilDam(TM) proposal developed in conjunction with Geocomp Corporation has undergone technical engineering review by BP’s Horizon Alternative Response Technology Team. The site inspection in Weeks Bay in Baldwin County is being conducted by the BP and U.S. Coast Guard Field Technical Operations Group. Scheduled field testing will commence within 8 days of the site approval. The proposed site will allow the OilDam(TM) to be deployed along a sand like sea floor, in water of approximately three to four feet in depth, in front of a tidal salt water marsh near the mouth of Weeks Bay.
Today’s SmallCapVoice.com Hot Stock to Watch:
Sillenger Exploration Corp. SLGX
Sillenger Readies for Airborne Geophysical Survey
TORONTO — (Marketwire) — 07/01/10 — Sillenger Exploration Corp. (“Sillenger”) SLGX SLGX and its airborne survey partner, Fugro Airborne Surveys, recently conducted a joint-reconnaissance flight of the Rio Muni area of the Republic of Equatorial Guinea to see the region firsthand, and to get a better sense of the size and scope of the survey. It is expected that all the necessary Government permits and procedures will be in place within the next week to enable Fugro Airborne Surveys to establish their base of operations at the airport at Bata, in Rio Muni. Fugro personnel currently stationed in Equatorial Guinea are organizing pre-survey strategy, planning and logistics. The survey aircraft is expected to arrive in Bata by mid-July, and once final equipment configuration is completed, the survey is expected to commence during the third week of July.
Other Small Cap News
WPCS International Incorporated WPCS
WPCS Awarded $7.3 Million in New Contracts
EXTON, Pa., June 30 /PRNewswire-FirstCall/ — WPCS International Incorporated WPCS, a leader in design-build engineering services for communications infrastructure, has announced that it has received approximately $7.3 million in new contracts.
American DG Energy Inc. (NYSE Amex: ADGE)
Doral Arrowwood Selects American DG Energy as Clean Energy Supplier
Hotel and Conference Center Takes Action to Mitigate Its Environmental Impact
WALTHAM, Mass., June 30 /PRNewswire-FirstCall/ — American DG Energy Inc. (NYSE Amex: ADGE), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, has reached an agreement to supply clean energy to Doral Arrowwood Hotel and Conference Center in Rye Brook, New York. Under the terms of the agreement, Doral will soon receive a significant portion of its energy from a 375 kW combined heat and power (CHP) system, which will be owned and operated by American DG Energy. Doral will receive a discount on the energy produced by the CHP system and reduce its carbon emissions by up to 1,800 tons per year. The value of the agreement to the Company is $10 million.
Level 3 Communications, Inc. LVLT
Chickasaw Selects Level 3 for High Speed IP and Transport Services
Level 3’s Services Offers Chickasaw Access to Oklahoma City Customers
BROOMFIELD, Colo.–(BUSINESS WIRE)–Level 3 Communications, Inc. LVLT today announced that it has signed an agreement with Chickasaw Long Distance/BrightNet (CLD), a wholesale carrier based in Oklahoma, to provide high-speed Internet protocol (HSIP) and transport services.
Puda Coal, Inc. (NYSE Amex: PUDA)
Puda Coal Comments on Chinese Government’s Recent Announcement on Thermal Coal Price Hikes
TAIYUAN, China, June 30 /PRNewswire-Asia-FirstCall/ — Puda Coal, Inc. (NYSE Amex: PUDA), a supplier of high grade metallurgical coking coal used to produce coke for steel manufacturing in China and a consolidator of twelve coal mines in Shanxi Province, today responded to the recent announcement by the National Development and Reform Commission (NDRC) seeking to curb significant hikes in thermal coal prices.
China Nuokang Bio-Pharmaceutical Inc. NKBP
China Nuokang Bio-Pharmaceutical Announces Agreement to Market Dianatal(R) Obstetric Gel in Greater China Region
BEIJING, June 30, 2010 (GLOBE NEWSWIRE) — China Nuokang Bio-Pharmaceutical Inc. NKBP (“Nuokang” or the “Company”), a leading China-based biopharmaceutical company focused on the research, development, manufacture, marketing and sale of hospital-based medical products, today announced that it has signed an agreement with the Swiss company, HCB Happy Child Birth Holding Inc. (“HCB”), to register and market Dianatal(R) Obstetric Gel, a unique product developed in Switzerland to reduce trauma associated with vaginal childbirth, in the Greater China region.
Prana Biotechnology Limited PRAN
New PBT2 Data in 2010 Hot Topics Session at International Conference on Alzheimer’s Disease
Evidence of Complementary and Beneficial Effects in the Treatment of Alzheimer’s and Huntington’s Disease
MELBOURNE, AUSTRALIA–(Marketwire – 07/01/10) – Prana Biotechnology Limited PRAN PBT today announced that its Head of Research, Assoc. Prof. Robert Cherny, will present new data on PBT2, the Company’s lead compound in development for Alzheimer’s disease, at the Hot Topics Therapeutics/Intervention session on July 14th at the International Conference of Alzheimer’s Disease (ICAD) in Honolulu. The presentation is entitled “Novel molecular mechanisms for the neurotrophic and neuroprotective effects of PBT2 in Alzheimer’s disease and Huntington’s disease.”
Corcept Therapeutics Incorporated CORT
Corcept Therapeutics Completes Enrollment in Phase 3 Cushing’s Syndrome Study — Data Announcement Anticipated by Year End
MENLO PARK, CA–(Marketwire – 07/01/10) – Corcept Therapeutics Incorporated (“Corcept”) CORT, a pharmaceutical company engaged in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders, today announced that it has completed enrollment of all 50 patients in its Phase 3 trial of CORLUX® for the treatment of Cushing’s Syndrome and the study is now closed.
Chelsea Therapeutics International Ltd. CHTP
Chelsea Therapeutics Reports Positive Interim Analysis of Phase II Trial of Droxidopa in Fibromyalgia
CHARLOTTE, N.C., July 1, 2010 (GLOBE NEWSWIRE) — Chelsea Therapeutics International, Ltd. CHTP announced the completion and favorable outcome of an independent Data Monitoring Committee (DMC) review of the safety and efficacy data from approximately half the target enrollment in Chelsea’s Phase II trial of droxidopa in fibromyalgia.
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.
