Stocks are flat as investors cautious heading into the start of earnings season
Stocks traded in a tight range Monday as caution heading into earnings season outweighed a fresh round of corporate deal making.
Investors entered the new week tentatively before aluminum producer Alcoa Inc. becomes first big company to report quarterly results. Its report is due out after the market closes.
Until last week, stocks had been sliding on signs that the economy is not growing nearly as fast as economists and investors had hoped. Earnings over the next few weeks will provide insight into whether sluggish retail sales, waning consumer confidence and high unemployment have actually hurt businesses’ profits.
Investors will also want to see how optimistic executives are when providing outlooks for their companies going forward. Increased optimism would likely give the market a boost and could be a sign that job creation will speed in the coming months.
The caution ahead of quarterly results has somewhat overshadowed a new round acquisitions. Insurance broker Aon Corp. said it will buy human resources company Hewitt Associates for $4.9 billion. Playboy Enterprises Inc. founder Hugh Hefner is offering to buy the remaining outstanding stock of the company to take it private in a deal that values the media company at $185 million.
In morning trading, the Dow Jones industrial average rose 1.81, or less than 0.1 percent, to 10,201.36. The Standard & Poor’s 500 index rose 0.58, or 0.1 percent, to 1,078.54, while the Nasdaq composite index rose 12.72, or 0.6 percent, to 2,209.17.
Yesterday’s Top Performing Small Cap Stock:
One World Ventures (Pink Sheets: OWVI)
One World Ventures, Inc. was a SmallCapVoice.com top performer closing up over 12% on trading volume of 4,500,00 shares.
One World Ventures, Inc. is a holding company with management resourced in Asia, Mexico and the United States that invests in technologies, communities and systems that facilitate trade, finance, communication and travel across international boundaries, cultures and languages.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company TOOT
Tootie Pie Company recently announced that it has entered into a partnership with Kraft Foods for the upcoming holiday season. The two companies will co-market Tootie Pie with Kraft’s Cool Whip.
“There is probably no more recognizable, high-quality food brand than Kraft Foods,” said Don Merrill, President & CEO. “We are proud and excited that Kraft recognizes the value of having its Cool Whip product featured alongside Tootie Pie.”
Terms of the deal were not disclosed as of this date; however, the deal was made possible through a mutual agreement in partnership with HEB Grocery Stores, according to Tootie Pie Company.
“Experience tells us that more in-store pie tastings result in significantly more Tootie Pie sales. Once customers taste Tootie Pie, they are hooked,” explained Merrill. “HEB wants to grow Tootie Pie sales dramatically and brought Kraft to the table in a three-way partnership that will drive consumers to the frozen food section during peak times of the year!”
Other Small Cap News
NeoStem, Inc. (NYSE Amex: NBS)
NeoStem to Receive $700,000 from the U.S. Army’s Medical Research and Materiel Command to Advance Adult Stem Cell Therapies in Treating Traumatic Wounds
NEW YORK, July 12 /PRNewswire-Asia-FirstCall/ — NeoStem, Inc. (NYSE Amex: NBS) (“NeoStem” or the “Company”), an international biopharmaceutical company with operations in the U.S. and China, today announced that it has been awarded a $700,000 contract from the U.S. Army Medical Research and Materiel Command, Telemedicine and Advanced Technology Research Center (USAMRMC-TATRC) under U.S. Army Medical Research Acquisition Activity contract number: (W81XWH-10-2-0039). This contract is for the purpose of evaluating the use of topically applied bone marrow-derived adult mesenchymal stem cells (MSCs) for rapid wound healing. The Company previously announced that this funding was included in the Department of Defense FY09 Appropriations Bill and will begin receiving funds to initiate the program in 2010.
Kandi Technologies, Corp. KNDI
Kandi Announces Initial EV Sale to Postal Service in Hangzhou
JINHUA, CHINA–(Marketwire – 07/12/10) – Kandi Technologies, Corp. KNDI, a leading Chinese manufacturer of recreational vehicles and developer of the “COCO” and other all electric LSVs for the international and Chinese markets, announced today that the Postal Service in the Chinese city of Hangzhou has placed an initial order for 60 Kandi all electric vehicles. The order, which is expected to be delivered this month, is Kandi’s first from a municipal service in the capital city of Zhejiang Province. It also is the first order for the all electric Kandi KD5010xxyev since its recent approval for sale in China by the Chinese Ministry of Industry and Information Technology, and the subsequent publication of this approval in the Chinese Alternative Energy Vehicle Catalog, as reported by the Company on June 21, 2010.
Playboy Enterprises, Inc. PLA
Playboy Enterprises, Inc. Announces Receipt of ‘Going Private’ Proposal at $5.50 Per Share
CHICAGO, July 12 /PRNewswire-FirstCall/ — Playboy Enterprises, Inc. (“PEI”) PLAPLAA today announced that its board of directors has received a proposal from Hugh M. Hefner (“Hefner”) to acquire all of the outstanding shares of Class A and Class B common stock of PEI not currently owned by Hefner for $5.50 per share in cash. Hefner owns 69.5% of PEI’s Class A common stock and 27.7% of PEI’s Class B common stock. According to the proposal letter, Hefner has had discussions with Rizvi Traverse Management LLC (“Rizvi Traverse”), with whom Hefner expresses an intention to partner in connection with the transaction.
Sparton Corporation SPA
Sparton Acquires Delphi Medical Systems Contract Manufacturing Business
Acquisition Expected to Add $32 Million in Annual Revenue
SCHAUMBURG, Ill.–(BUSINESS WIRE)–Sparton Corporation SPA, a supplier of complex and reliable electronic and electro-mechanical products, sub-assemblies and related services to the highly regulated Medical, Defense & Security, and Aerospace markets announced today that its wholly owned subsidiary, Sparton Medical Systems Colorado, LLC, has signed a definitive agreement to acquire certain assets related to the contract manufacturing business of Delphi Medical Systems, LLC in an all-cash transaction valued at $8.0 million, subject to certain post-closing adjustments.
Tuesday Morning Corporation TUES
Tuesday Morning Corporation Announces Fourth Quarter and Fiscal 2010 Sales
DALLAS, July 12, 2010 (GLOBE NEWSWIRE) — Tuesday Morning Corporation TUES today reported net sales for the fourth quarter ended June 30, 2010 were $200.8 million compared to $188.7 million for the quarter ended June 30, 2009, an increase of 6.4%. Comparable store sales for the quarter ended June 30, 2010 increased by 6.0% comprised of a 5.7% increase in traffic and a 0.3% increase in ticket. For the fiscal year ended June 30, 2010, net sales were $828.3 million compared to $801.7 million for fiscal 2009. Comparable store sales for the fiscal year ended June 30, 2010 increased 2.2%.
Hemispherx Biopharma, Inc. (NYSE Amex: HEB)
Hemispherx Reports Successful Culmination of Three Year Joint Research Program at Japanese NIID
Sets Stage for Clinical Testing of Novel Flu Vaccine/Ampligen(R) Combination
PHILADELPHIA, July 12, 2010 (GLOBE NEWSWIRE) — Hemispherx Biopharma, Inc. (NYSE Amex:HEB) (the “Company”), announced that it has received a report, prepared by Hideki Hasegawa, M.D. Ph.D., Director, Laboratory of Infectious Disease Pathology, National Institute of Infectious Disease (NIID, formerly Japan’s National Institute of Health), that summarizes the results of a three (3) year Japanese government funded program to develop and test a nasally delivered H5N1 (Avian Flu) vaccine which, when coupled with Ampligen(R), an experimental therapeutic, provided a robust and long lasting immune response to the vaccine. The report, entitled “Research on Clinical Applications of Influenza Vaccines Formulated for Nasal Mucosal Delivery” was filed with Japan’s Ministry of Health, Labor and Welfare (MHLW), which fully funded this work in non-human primates. All reports under grants from MHLW are submitted first to MHLW and then forwarded to the National Diet Library to be made available for public review.
Aerosonic Corporation (NYSE Amex: AIM)
Aerosonic Announces New Air Data Test Equipment Order from Korean Aerospace Industries
CLEARWATER, Fla.–(BUSINESS WIRE)–Aerosonic Corporation (NYSE Amex: AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced today that the Company has received a contract to build complex Aerodynamic Test Equipment for Korean Aerospace Industries (KAI).
BioTime, Inc. (NYSE Amex: BTIM)
BioTime CEO Dr. Michael West to Present at the Agora Financial Investment Symposium 2010
ALAMEDA, Calif.–(BUSINESS WIRE)–BioTime, Inc. (NYSE Amex:BTIM) Chief Executive Officer Michael West, Ph.D., will give a presentation at the Agora Financial Investment Symposium 2010, July 20-23, at the Fairmont Hotel Vancouver. Dr. West’s presentation on Wednesday, July 21, is titled “Regenerative Medicine: Finding Opportunity in a Scientific Revolution.”
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