Stephen Bernard, AP Business Writer
Stock market kicks off September with strong gains
Stocks start month with a big rally after signs of growth in US, Chinese manufacturing
NEW YORK (AP) — Stocks jumped Wednesday after surprisingly strong growth in U.S. and Chinese manufacturing allayed some of the worries that had been building over the global economy in recent weeks.
The new reports snapped a string of disappointing economic data that sent stocks slumping in August. The Standard & Poor’s 500 Index, the benchmark most widely used by professional investors, lost 4.7 percent in the month, its worst performance for the month since 2001.
The Dow Jones industrial average jumped more than 220 points on the first day of September trading. Broader indexes also rose more than 2 percent. With investors pouring into stocks, Treasurys fell and interest rates rose.
The Institute for Supply Management said manufacturing activity in the U.S. rose in August, in contrast to regional reports from recent weeks that pointed to a slowdown. The ISM manufacturing index grew to 56.3 last month from 55.5 a month earlier. Economists polled by Thomson Reuters had forecast a decline.
Any reading above 50 indicates growth, so the latest reading indicates manufacturing had been growing throughout the summer, though not at the pace it did earlier this year. Nearly all economic reports over the past month had pointed to meager economic growth in the U.S., which dampened earnings outlooks and hurt stocks.
Yesterday’s Top Performing Small Cap Stock:
Kore Nutrition, Inc. KORE
Kore Nutrition, Inc. was a SmallCapVoice.com top performer closing up over 9% on trading volume of 338,964 shares.
ALL IN Energy Completes Distribution Agreement for the United States
HENDERSON, NV, Sept. 1 /PRNewswire-FirstCall/ – Kore Nutrition Incorporated (“Kore” or the “Company”) KORE and the Company’s wholly owned subsidiary, Go All In, Inc. (“ALL IN”), are pleased to announce the appointment of LMB Sales Inc. (“LMB Sales”) to represent and market ALL IN products throughout the Western United States, which is the Company’s initial focus territory, as one of the Company’s initial key distributors.
LMB Sales, located in Murrieta, California, has strong relationships with some of the largest and most well-known retail distributors in the U.S. and has a significant track record of success in marketing and representing new retail brands and products. Retail store chains such as Kroger, Walgreens, 7-Eleven, Costco, and Walmart will be the Company’s first priority for distribution, with additional well-known regional and national accounts to be added.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions for user’s needs and challenges within the dynamic global voice, video and data communications markets. The company offers managed IT and telecommunication services to solve a myriad of complex client requirements. Services and solutions include outsourced and internal server applications hosting, managed hosting and related systems management services, database hosting, content delivery networks, data broadcasting networks, and voice and video solutions.
Other Small Cap News
Kalahari Greentech, Inc. (Pink Sheets: KHGT)
Kalahari Greentech Announces a Special Dividend of Shares to Investors for Shareholders of Record on September 30, 2010
BALTIMORE, Aug. 31, 2010 (GLOBE NEWSWIRE) — Kalahari Greentech, Inc. (Pink Sheets:KHGT) announced today that at its regular meeting held on August 24, 2010, the Kalahari Greentech Board of Directors voted to issue a special dividend of one share per each share payable to holders of record of Common Shares as of the close of business on September 30, 2010.
Said Kalahari President Gunther Than, “Having launched two major technologies to transform the company into a major player in the ‘green technology’ arena, this special dividend keeps a significant portion of ownership in shareholders hands while maintaining adequate capitalization and proper financial leverage.”
Cono Italiano, Inc. CNOZ
Cono Italiano, Inc. and Pizza Hands Bring “Pizza Cono” Craze to North America
One-of-a-Kind, Cone-Shaped Pizza Makes North American Retail Debut
RED BANK, NJ–(Marketwire – 09/01/10) – Cono Italiano, Inc. (OTC.BB:CNOZ) the exclusive license holder for the North American Distribution and Manufacturing rights of “pizza cono,” a one-of-a kind, cone-shaped pizza, is pleased to announce the hotly anticipated debut of “pizza cono” to the North American retailers in conjunction with its European partner Pizza Hands, also known as P Group.
Cono Italiano recently commenced initial production and distribution of “pizza cono” to customers throughout the U.S. across universities, catering companies, fairs, festivals, stadiums and cafes. As a result, the “pizza cono” craze has caught on and consumers are clamoring for the delicious, nutritious and convenient cone-shaped product. To meet this demand, Cono Italiano and European partner Pizza Hands have agreed to jointly manufacture and distribute “pizza cono” to retailers throughout the U.S. and North America.
Neuberger Berman Real Estate Securities (NYSE Amex: NRO)
Neuberger Berman Real Estate Securities Income Fund Announces Monthly Distribution
NEW YORK–(BUSINESS WIRE)–Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE Amex: NRO) has announced a distribution declaration of $0.02 per share of common stock. The distribution announced today is payable on September 30, 2010, has a record date of September 15, 2010 and an ex-date of September 13, 2010.
IEC Electronics Corp. (NYSE Amex: IEC)
IEC Electronics Announces $5.1 Million Award
NEWARK, NY–(Marketwire – 08/31/10) – IEC Electronics Corp. IEC announced that it has received an order valued at more than $5.1 million from one of its Military and Defense customers. Deliveries will commence April 1, 2011 during IEC’s fiscal third quarter and will be completed by March, 2012.
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