2-22-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are flat after another round of upbeat earnings reports and corporate buyouts
The market, which has rallied for four straight days, appeared to be taking a pause after Lowe’s Cos. and Campbell Soup Co. reported upbeat earnings and oil field services company Schlumberger Ltd. agreed to buy Smith International Inc.
Signs of a strengthening U.S. economy helped push stocks sharply higher last week. The Dow Jones industrial average rose for the second straight week, and posted its best weekly performance since early November after a string of strong earnings and economic reports.
Schlumberger is buying Smith International for $11 billion in stock in a move to diversify its product offerings and better compete with rival Halliburton Co. Investors viewed the deal as a sign that demand is likely to grow for fuel as the global economy recovers.
Lowe’s said its fourth-quarter profit rose 27 percent as it cut costs and saw a slight increase in sales. The home-improvement retailer’s results beat expectations and it expects sales to grow as the housing market recovers. However, excitement was tempered after it forecast first-quarter earnings that were below analysts’ expectations.
Campbell Soup’s fiscal second-quarter profit met forecasts as lower costs helped offset a slowdown in U.S. sales.
In early trading, the Dow rose 1.89, or less than 0.1 percent, to 10,404.24. The Standard & Poor’s 500 index fell 0.35, or less than 0.1 percent, to 1,108.82, while the Nasdaq composite index fell 2.34, or 0.1 percent, to 2,241.53.
Yesterday’s Top Performing Small Cap Stock:
CitySide Tickets, Inc. (Pink Sheets: CIST) was a SmallCapVoice.com top performer yesterday closing up over 10% on trading volume of 1,619,500 shares.
CitySide Ticket, Inc. is featured today in the Business and Markets section of the Boston Hearld. The article can be found at http://bostonherald.com/business/general/view.bg?articleid=1234509&position=0
CitySide Tickets, Inc. announced that it has launched a nationally televised advertising campaign to generate broad consumer awareness of www.CitySidetickets.com, a nationwide event ticket purchasing venue that caters to a diverse selection of popular theater, music, and sporting events.
Over the next three weeks, 500+ 30-second commercials will air on national cable news channels, including CNBC, CNN, MSNBC, Bloomberg and FOX News, among others. This televised ad campaign is not only designed to display the benefits of purchasing tickets through CitySidetickets.com, but also to make consumers aware that they can sell tickets through the site as well. From an easy online form and a few bits of information, customers can set their own price and sell their event tickets via CitySide Tickets in a matter of minutes. In addition to a wide selection of concert and theater events, featuring top name performers and popular shows, CitySide Tickets, Inc. also offers a wide selection of sporting events including major NBA Basketball, NFL Football, NHL Hockey events, Major League Baseball, and NASCAR events.
Such a diverse range of products allows the Company to advertise to a much greater audience with a greater measure of success. This national advertising campaign is expected to be seen by over 8 million people over the course of the 21-day schedule. Company CEO Michael DeAmicis commented, “CitySide Tickets, Inc. is proud to be at such a point in our business strategy that we are able to produce these 30-second spots and capture the attention of millions of potential buyers and sellers. By providing a ticket sales venue for the average person, we believe that this truly sets us apart from our competitors. With just a few clicks of their mouse they can buy or sell event tickets any time – day or night.”
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company, Inc. (OTC BB: TOOT)
SectorWatch.biz announces the availability of a commentary of interest to investors in Tootie Pie Company, Inc. and other foodservice-related equities making news and driving markets today. Investors can view our free commentaries at: www.SectorWatch.biz – in association with FiSpace.net, a dynamic social networking site for investors.
It takes an unwavering focus on the bottom line to successfully navigate the troubled waters of the current economy. But the potential rewards are within reach for companies that are willing to make the tough decisions.
Such is the case for Tootie Pie Company, Inc., a premium baker and seller of high-quality, handmade pies, which recently reported a net profit of $29,771 on revenues of $910,837 for the period ending December 31, 2009, versus a net loss of $30,618 on revenues of $909,741 for the same period in 2008; a $60,389 or 6.6% improvement to the bottom line.
Cost-cutting measures instituted early last year helped produce the positive results. In the news release, Tootie Pie president Don Merrill said, “We improved our bottom line results, swinging from a loss to a profit; which coupled with an increase in unit sales, produced the best overall quarter in the Company’s history.”
Tootie Pie reported the best overall quarterly operating results in the Company’s history. The shift to increase retail sales growth from existing and planned acquisitions has positioned Tootie Pie for continued sales growth and profits.
A new Audio Interview with Don Merrill, President and CEO of Tootie Pie Company is now at SmallCapVoice.com
The interview can be heard at http://smallcapvoice.com/blog/2-17-10-audio-interview-with-tootie-pie-company-otcbb-toot/
A fact sheet on Tootie Pie Company, Inc. is available here: http://www.smallcapvoice.com/toot/factsheet.html
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels.
Other Small Cap News
Level 3 Communications, Inc. (Nasdaq: LVLT)
Level 3 Expands Operations in South Ohio
Level 3 Committed to Providing a Competitive Alternative for Businesses Throughout the Region
Level 3 Communications, Inc. (NASDAQ: LVLT) today announced that it has expanded its operations and is enhancing its local presence in South Ohio, which includes Columbus, Cincinnati and Dayton. This expansion reflects Level 3’s continuing commitment to increasing its presence in local markets throughout the country, designed to provide mid-market enterprises with a world-class customer experience.
InnerWorkings, Inc. (Nasdaq: INWK)
InnerWorkings Announces Large Scale Print Management Contract with Unilever
Under this agreement, Unilever North America will outsource all print, promotional and display related procurement for all of its brands – including direct mail, point of purchase, commercial print, packaging and more – to InnerWorkings.
Newpark Resources, Inc. (NYSE: NR)
Newpark Resources Reports Fourth Quarter and Full Year 2009 Results
Paul Howes, President and Chief Executive Officer of Newpark, stated, “Our fourth quarter revenues and operating income showed sequential improvement from the third quarter, which had also improved from our second quarter of 2009. We have seen U.S. drilling activity continue to strengthen over the second half of 2009 and in the early part of 2010. As a result of these improving market conditions and our cost cutting programs executed earlier in 2009, all of our operating segments returned to profitability during the fourth quarter of 2009.
ChipMOS Technologies (Nasdaq: IMOS)
ChipMOS Receives Initial Payment From Sale of Spansion Claim
HSINCHU, Taiwan, Feb. 22 /PRNewswire-Asia-FirstCall/ — ChipMOS TECHNOLOGIES (Bermuda) LTD. (Nasdaq:IMOS) today announced that ChipMOS TECHNOLOGIES, INC. (“ChipMOS Taiwan”), a wholly owned subsidiary of ChipMOS, has received the initial payment of approximately US$33 million from escrow agent for the sale of accounts receivable for testing and assembly services provided to Spansion in the amount of approximately US$66 million to US$70 million.
Brightpoint, Inc. (Nasdaq: CELL)
Brightpoint Increases Existing Share Repurchase Program by $25 Million
Brightpoint, Inc. (Nasdaq:CELL) today announced that the Company’s board of directors has approved the increase of its previously announced share repurchase plan by an additional $25 million (“Amended Share Repurchase Program”). The Amended Share Repurchase Program was increased to an aggregate of $105 million and $76.3 million of share repurchases have been already completed.
New Generation Biofuels Holding (Nasdaq: NGBF)
New Generation Biofuels Announces Agreement to Replace Upcoming $1.0 Million Licensing Payment With Common Stock and Cash
Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq:NGBF) (“NGBF” or the “Company”) announced today that on February 19, 2010, it reached an agreement with Mr. Ferdinando Petrucci and PTJ Bioenergy Holdings LTD to replace the upcoming $1,000,000 cash payment for its technology license due in equal installments on February 20th and March 20th, 2010 with 1,100,000 shares of the Company’s common stock and $120,000 in cash.
Celsion Corporation (Nasdaq: CLSN)
Celsion’s Technology Is the Focus of 6.4 Million EUR ‘HIFU-CHEM’ Program To Study ThermoDox(R) and MRI-guided HIFU
Project Will Focus on Early Development and Investigate Treatment Options for Two Indications: Liver and Bone Metastases
“The drug/device combination of ThermoDox and MR-HIFU acts synergistically with the potential to provide an innovative non-invasive therapy for patients with aggressive and life-threatening cancers,” said Nicholas Borys, MD, Celsion’s Vice President and Chief Medical Officer.
Star Bulk Carriers Corp. (Nasdaq: SBLK)
Star Bulk Acquires a Capesize Bulk Carrier to Replace the Recently Sold Capesize Star Alpha
ATHENS, GREECE–(Marketwire – 02/22/10) – Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (NASDAQ:SBLK) today announced that it has entered into a definitive agreement to acquire a Capesize bulk carrier of approximately 171,000 dwt, built in 2000 in Japan, for approximately $42.5 million from a third party. The vessel will be financed through a combination of company cash and bank debt.
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