Stephen Bernard, AP Business Writer
More bad news on home sales sends stocks lower
Stocks retreat as weak durable goods orders, housing sales add to concerns about economy
NEW YORK (AP) — Stocks retreated again after another disappointing report on housing and weak durable goods orders brought more gloom about the economy.
The Dow Jones industrial average fell more than 50 points in morning trading Wednesday following news that sales of new homes fell last month to the lowest level on record. It was the latest indication that home sales are stagnating after the expiration of a homebuyer tax credit this spring.
A separate report from the Commerce Department showed that durable goods orders grew only slightly last month, falling shy of expectations and disappointing investors who had been hoping that the U.S. manufacturing sector would continue to pick up.
The newest signs that the economic recovery is sputtering led investors to move money into the relative safety of Treasurys, sending their yields lower. The yield on the 10-year Treasury note is now the lowest it’s been since January 2009, when the stock market was heading toward its lowest level in 12 years, and the yield on the two-year note is at a record low.
Yesterday’s Top Performing Small Cap Stock:
Concordis Group, Inc. (Pink Sheets: CNGI)
Concordis Group, Inc. was a SmallCapVoice.com top performer closing up over 18% on trading volume of 195,400 shares.
Concordis Group, Inc. is a diversified holding company that provides investment brokerage services and business insurance products for its clients. Concordis Group, Inc. provides investment products and risk management solutions through its two wholly owned subsidiaries, Concordis Insurance SPC and Puritan Securities, Inc.
Concordis Group’s go-to-market strategy is based upon strong organic growth combined with strategic acquisitions of companies in the financial services and insurance industries that create additional synergy, have positive cash-flow, exhibit strong long-term growth potential, and have highly qualified management teams.
Today’s SmallCapVoice.com Hot Stock to Watch:
Oramed Pharmaceuticals Inc. ORMP
A New Audio Interview Featuring Nadav Kidron, CEO of Oramed, is Now at SmallCapVoice.com
Aug. 25, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview featuring Oramed Pharmaceuticals Inc. ORMP (http://www.oramed.com), a developer of oral delivery systems, is now available. The interview can be heard at http://smallcapvoice.com/blog/8-24-10-audio-interview-with-oramed-pharmaceuticals-inc-otcbb-ormp.
SmallCapVoice Clients’ News
Curaxis Pharmaceutical Corp. ASCH
A New Audio Interview Featuring Patrick Smith, CEO of Curaxis Pharmaceutical, is now at SmallCapVoice.com
Aug. 25, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview featuring Curaxis Pharmaceutical Corp. ASCH is now available. The interview can be heard at http://smallcapvoice.com/blog/8-23-10-audio-interview-with-pharmaceutical-corp-otcbb-asch.
Other Small Cap News
BioNeutral Group, Inc. BONU
BioNeutral Group Initiates Two New Commercial Agreements
Agreements With J-Man Distributors Expands Commercialization of BioNeutral’s Ogiene(TM) Line of Products
NEWARK, N.J., Aug. 25, 2010 (GLOBE NEWSWIRE) — BioNeutral Group, Inc., BONU, a specialty chemical technology-based life science company, has authorized Steve Campus of the Campus Group and J-Man Distributors to exclusively represent BioNeutral’s Odor Eliminator and its Multi Purpose Cleaner to a major home shopping cable network.
In a second agreement, BioNeutral announced that J-Man Distributors has concluded an exclusive commercial agreement with Planned Companies, under which Planned Companies will exclusively use BioNeutral’s AutoNeutral(TM) product to clean and deodorize the automobiles of an international car sharing company that it contractually provides cleaning services for in the New York metro area.
RAE Systems Inc. (NYSE Amex: RAE)
North Carolina HazMat Regional Response Teams Select RAE Systems’ Wireless AreaRAE Rapid Deployment Kits
SAN JOSE, CA–(Marketwire – 08/24/10) – RAE Systems Inc. RAE, a leader in delivering innovative sensor solutions to industrial, energy, environmental, and government safety markets worldwide, announced North Carolina Hazardous Material Regional Response Teams (RRT) have added RAE Systems’ AreaRAE wireless toxic-gas- and radiation-detection monitors to their equipment base serving six of its seven regionally placed teams.
The NC RRTs are strategically located across the state in major population areas with accessibility to major transportation corridors. The RRT trucks are customized tractor-trailer trucks with state-of-the-art equipment and supplies, valued at more than $1 million each.
Northgate Minerals Corporation (NYSE Amex: NXG)
Northgate Minerals and BNP Paribas Sign Engagement Letter for $100 Million Project Debt Facility
VANCOUVER, Aug. 24 /PRNewswire-FirstCall/ – (All figures in US dollars) Northgate Minerals Corporation (“Northgate”) NGXNXG is pleased to announce that it has entered into an engagement letter with BNP Paribas for the purpose of establishing a $100 million seven-year project debt facility (the “Facility”) for construction of Northgate’s Young-Davidson Mine, located in northern Ontario. BNP Paribas has been given an exclusive mandate to act as lead arranger of the Facility. The establishment of the Facility remains subject to due diligence, credit approval, documentation, and other factors. The cost of the Facility is expected to be consistent with other senior secured project financings of a similar nature. The indicative terms of the Facility included in the engagement letter do not include a hedging requirement. Closing of the Facility is anticipated in the fourth quarter of 2010.
Balqon Corporation BLQN
Balqon Receives Initial $490,000 Purchase Order From New China-Based Distributor, DynaProTech
Order Expands Distribution of Balqon’s Leading Zero-Emissions Electric Drive Systems Into China
HARBOR CITY, CA–(Marketwire – 08/25/10) – Balqon Corporation (OTC.BB:BLQN), a developer and manufacturer of zero emissions, heavy-duty electric vehicles and drive systems, has received a $490,000 order for electric drive systems under a new dealer agreement with DynaProTech, a leading composite automotive parts manufacturer in the People’s Republic of China.
Under the terms of the dealer agreement, DynaProTech plans to integrate Balqon’s zero-emissions electric drive systems into electric buses, heavy-duty trucks, light commercial vehicles and automobiles for use throughout China. DynaProTech will also provide servicing and parts for Balqon’s products throughout China.
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.
The SmallCapVoice.com, Inc. Daily Highlights is an electronic publication, and is for informational purposes only. The Small Cap Voice Daily Highlights covers both client and non client issuers. Non client issuer’s news is listed under other small cap news. SmallCapVoice is an electronic publication providing information on selected public companies. All companies profiled on this website pay cash or restricted stock to SmallCapVoice as consideration for the electronic dissemination of the company’s information and our comments about the company. Section 17(b) of the Securities Act of 1933 requires that SmallCapVoice fully disclose the type consideration (i.e. cash, restricted stock, and restricted stock with registration rights, stock options, stock warrants, or other type consideration) and the specific amount of the consideration our company receives or will receive, directly or indirectly, from an issuer, underwriter, or dealer. No information contained in our website, e-mail communications or our publications should be considered as a solicitation to purchase or sell the securities of the profiled companies. SmallCapVoice is not a registered investment advisor or a registered securities broker dealer. We do not undertake or represent to make investment recommendations or to give advice pertaining to the purchase or sale of the securities mentioned in our web site, e-mail communications or publications. The information contained in our website, e-mail communications and publications are carefully compiled by SmallCapVoice from public sources that we believe to be reliable. SmallCapVoice, however, does not guarantee the accuracy of any information contained in our website, e-mail communications or publications. This material is not a substitute for either one’s own thorough investigation of an investment opportunity or the exercise of good business judgment. SmallCapVoice does not endorse, independently verify, or assert the truthfulness or reliability of any statements or data obtained from third party sources that are published by us about the profiled companies in our website articles, e-mail communications or publications, but we do not publish information that we know is incorrect. Investors should not rely solely on the information contained in our website, e-mail communications or publications when making investment decisions. Instead, investors should use the information provided on the profiled companies as a starting point for conducting additional research that will permit them to form their own opinions regarding the appropriateness of an investment in the profiled company’s securities. SmallCapVoice does not warrant, represent or guaranty that there has been no change in the affairs of the profiled company since the date that information was published on this website, in e-mail communications or in our publications regarding a profiled company or after the date of the profiled company’s press releases or other information disseminated via our website or publications. If you become aware of any change of circumstances related to any website article, e-mail communication or publication, please notify us immediately. See the Contact Us page for the appropriate e-mail address. The information contained in our website, e-mail communications and publications pertains to microcap, small cap and/or other thinly traded securities which by their very nature involve an extremely high degree of risk. An investment in these type of securities could result in the loss of some or all of an investment in the company. In addition, due to the illiquid nature of some of these securities, an investor may find encounter difficulties in liquidating the securities. SmallCapVoice may liquidate the stock consideration it receives at any time it deems it appropriate to do so after the required six-month holding period has run after the completion of the services for which SmallCapVoice was paid in stock. The liquidation of our stock may have a negative impact on the securities of the company liquidated, including decreased market value and/or dilution of the company’s securities. The following companies have paid, and/or have agreed to pay SmallCapVoice to: distribute the company’s information and reports on this website, to send e-mail communications; to send publications by mail, to post company Internet links on our website, and to compile and/or to distribute reports in an e-mail newsletter.
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Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com
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