3-10-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are higher on China data and M&A activity
Stocks are moderately higher after data showed Chinese exports and imports grew faster than expected and after a slew of new corporate deals overshadowed an unexpected drop in January wholesale inventories.
Total wholesale inventories slipped 0.2 percent, versus expectations of an increase of 0.2 percent, while sales rose to their highest level since October 2008.
Abbott Laboratories agreed to buy Facet Biotech Corp for $27 a share late Tuesday, topping a failed bid from Biogen Idec Inc. Facet surged 66 percent to $26.95.
Private equity firm Apollo Management reached a deal to acquire Citigroup Inc’s real estate investment division, Bloomberg reported, sending Citi up 3.9 percent to $3.97.
The pick-up in M&A activity typically represents a sign of confidence that corporate executives see better economic conditions ahead.
The Dow Jones industrial average was up 27.59 points, or 0.26 percent, at 10,591.67. The Standard & Poor’s 500 Index gained 5.67 points, or 0.49 percent, at 1,146.06. The Nasdaq Composite Index rose 15.29 points, or 0.65 percent, at 2,355.81.
Yesterday’s Top Performing Small Cap Stock:
GWS Technologies, Inc. (OTCBB: GWSC)
GWS Technologies, Inc. was a SmallCapVoice.com top performer yesterday closing up over 16% on trading volume of 66,003 shares.
GWSC Is Growing Rapidly in the Green Energy Sector
There are few industry sectors in the world today with more potential than renewable energy like hydro electric, solar power and wind turbine. Clean, green and renewable energy technologies are receiving immense emphasis from investors, environmentalists, governments and major corporations. Today’s high prices for crude oil, coal and natural gas will increase the demand for green technologies from companies like GWS Technologies.
Today’s SmallCapVoice.com Hot Stock to Watch:
VitaminSpice (OTCBB: VTMS)
VitaminSpice Makes Splash at Pizza Expo in Las Vegas: With On-Location Interview by ABC
WAYNE, Pa., March 9 /PRNewswire-FirstCall/ — VitaminSpice (OTC Bulletin Board: VTMS) (German WKN: A0YE4L) (www.VitaminSpice.net) is pleased to announce that their participation in the International Pizza Expo (March 2-4, 2010) was an overwhelming success. The excitement at the show over the revolutionary VitaminSpice product packs led to VitaminSpice being featured with an ABC interview in the local Las Vegas market.
Other Small Cap News
Uranium Resources, Inc. (Nasdaq: URRE)
Uranium Resources Inc. Announces Tenth Circuit Upholds NRC Licensing of Churchrock and Crownpoint Projects
Nuclear Regulatory Commission License allows for initial uranium production of up to 1 million pounds annually
Uranium Resources, Inc. (NASDAQ: URRE) (URI) a uranium exploration, development and production company, announced today that the United States Court of Appeals for the Tenth Circuit on Mach 8, 2010 denied the petition by the Southwest Research and Information Center and other parties for review of URI’s Nuclear Regulatory Commission (NRC) license to conduct in situ recovery (ISR) uranium mining at four locations in McKinley County, New Mexico and upheld the NRC’s licensing decision in all respects.
Opnext, Inc. (Nasdaq: OPXT)
Opnext Demonstrates Single Wavelength, Real-Time Coherent 100G PM-QPSK Modem in AT&T Network
127 Gbps modem was field demonstrated on 900+ km link at AT&T
Opnext, Inc. (NASDAQ:OPXT), a global leader in high speed optical communications technology, today announced that it has demonstrated a single wavelength, real-time coherent 127G PM-QPSK (Polarization Multiplexed Quadrature Phase Shift Keying) modem trialed on an AT&T ultra long haul link between Louisiana and Florida. The demonstration also included Opnext’s fully IEEE 802.3ba standards-compliant CFP MSA client optical modules which are fully interoperable with 100 GbE interfaces on IP routers.
EDAP TMS SA (Nasdaq: EDAP)
EDAP Receives Japanese Approval for Sonolith I-Sys
Enters Largest Global Lithotripsy Market
Marc Oczachowski, EDAP’s Chief Executive Officer, commented, “Japan is the largest global lithotripsy market and the latest key territory we have received approval for Sonolith I-Sys. This approval is a major milestone and further validates EDAP’s position as a major worldwide player in the lithotripsy field, with Sonolith I-Sys approved in all lithotripsy markets in the world. We are very enthusiastic with the Japanese approval of our Sonolith I-sys lithotripter. We are convinced that our innovative, high-end device perfectly suits the Japanese lithotripsy market and will allow us to successfully address the strong demand of major clinical centres and University hospitals.”
Broadwind Energy Inc (Nasdaq: BWEN)
Broadwind gets JPMorgan’s top rating, shares up
Broadwind Energy up as JPMorgan starts co. at top rating, saying wind sector set to recover
A recovery in the wind energy sector starting in the second half of the year will boost sales growth for Broadwind Energy Inc., a JPMorgan analyst said Tuesday.
Shares rose rose 41 cents, or 8 percent, to $5.52 in afternoon trading after JPMorgan analyst Christopher Blansett started coverage on the company at “Overweight,” with a price target of $6.50.
MoneyGram International (NYSE: MGI)
MoneyGram International and SUPERVALU Extend Alliance for Money Transfer Services at 1,000 Grocery Outlets
Multi-year contract extension covers 11 regional brands
“MoneyGram is excited to renew this important relationship with SUPERVALU, one of the largest grocery retailers in the United States, to provide our combined consumers with reliable and affordable money transfer services at more than 1,000 convenient locations,” said Dan O’Malley, MoneyGram International executive vice president for the Americas.”
Minco Gold Corporation (NYSE Amex: MGH)
Minco Gold Discovers a Significant Gold Zone on the Oujiaba Property
Minco Gold Corporation (the “Company” or “Minco Gold”) (TSX:MMM)(AMEX:MGH)(Frankfurt:MI5) is pleased to announce the discovery of a large gold zone on its 100% owned Oujiaba property, within the Yangshan Gold Belt, Gansu Province P.R.C. The discovery has been traced for approximately 6 kilometres and has the same host lithologies as the Anba gold deposit. The Anba deposit is considered to be a Carlin-type gold deposit and is estimated to have over 10 million oz Au.
U.S. Geothermal Inc. (NYSE Amex: HTM)
U.S. Geothermal Announces $8.6 Million Private Placement Financing3
U.S. Geothermal Inc. (the “Company”) announced today that it has entered into a securities purchase agreement with several institutional investors, pursuant to which the Company has agreed to issue 8,209,519 shares of Common Stock at a price of $1.05 per share for gross proceeds of approximately $8.6 million (the “Private Placement”). Pursuant to the terms of the Private Placement, each Investor will also be issued a common share purchase warrant (a “Warrant”) exercisable for 50% of the number of shares of Common Stock purchased by the investor. Each Warrant is exercisable at $1.25 per share for a period of five years beginning six months after the closing of the private placement.
Cytokinetics Inc. (Nasdaq: CYTK)
FDA grants Cytokinetics treatment orphan status
FDA grants orphan drug status to Cytokinetics treatment for Lou Gehrig’s disease
Biotechnology company Cytokinetics Inc. said Wednesday regulators have granted “orphan drug” status to its potential Lou Gehrig’s disease treatment.
The company said it plans to start a mid-stage clinical trial in the first half of this year to test the drug’s effectiveness in patients with the disease.
RTI Biologics Inc. (Nasdaq: RTIX)
RTI Biologics Launches Two Biologic Implants at Orthopaedic Surgeon Annual Meeting
RTI Biologics Inc. (RTI) (Nasdaq: RTIX), the Florida-based processor of orthopedic, dental, surgical specialties and other biologic implants, is launching two new biologic implants for use in sports medicine surgeries at the American Academy of Orthopaedic Surgeons (AAOS) annual meeting in New Orleans this week. BTB Select(R), an innovative allograft that provides precision sized tendons for ACL reconstruction, and BioCAP Select(TM), a composite allograft plug for customized bone void filling, will be introduced at the RTI Biologics exhibit during the AAOS meeting.
Oculus Innovative Sciences, Inc. (Nasdaq: OCLS)
Oculus Innovative Sciences Receives First FDA Clearance for Microcyn(R)-Based HydroGel for Dermatology Market with Claims Including Reduction of Itch and Pain Relief
U.S. Launch Targeted for April 2010
Oculus Innovative Sciences, Inc. (Nasdaq: OCLS), a commercial medical technology company that develops, manufactures and markets a family of products based upon the Microcyn(R) Technology platform, today announced that it has received new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for new dermatology indications for Microcyn(R) Skin and Wound HydroGel. The Rx product, under the supervision of a healthcare professional, Microcyn Skin and Wound HydroGel is intended for management of wounds including itch and pain relief associated with dermal irritation, sores, injuries and ulcers of dermal tissue.
Sutor Technology Group Limited (Nasdaq: SUTR)
Sutor Technology Group Limited Signs Four New Contracts for 52,000 Metric Tons
New contracts total approximately $40 million in revenue
Sutor Technology Group Limited (the “Company”, “Sutor”) (Nasdaq:SUTR), a leading China-based manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of down-stream applications today announced that it has signed four annual contracts totaling approximately 52,000 metric tons of processed steel products for an aggregate contract amount of approximately US$40 million based on current market prices. The contracts are for one year beginning from March and the products sold through the contracts will be priced at the market at the time of shipment.
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