3-24-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks are lower after Portugal’s debt rating is cut and new home sales fall
Stocks are lower on renewed concerns about European debt problems after a major ratings agency slashed its view on Portugal and weakness in the housing market.
The Commerce Department says sales of new homes fell 2.2 percent last month. Economists forecast an increase of 3.6 percent.
European markets are mostly lower after Fitch Ratings said Portugal’s recovery will be slower than other countries that use the euro, hurting Portugal’s ability to repay its debt. Debt problems in Europe have been one of the few drags on stocks in recent months.
Mounting debt in Greece, Portugal and other euro-zone nations have investors worried the countries will struggle to rebound economically and upend a global recovery.
A report showing continued growth in the U.S. manufacturing sector had little effect on trading.
The dollar strengthened sharply against the euro and other major currencies. The dollar is at its highest level against the euro since May.
The Dow Jones industrial average is down 23.58, or 0.2 percent, at 10,865.25. The Standard & Poor’s 500 index is down 3.86, or 0.3 percent, at 1,170.31, while the Nasdaq composite index is down 11.33, or 0.5 percent, at 2,403.91.
Yesterday’s Top Performing Small Cap Stock:
VitaminSpice (OTCBB: VTMS)
VitaminSpice was a SmallCapVoice.com top performer yesterday closing up over 2% on trading volume of 23,900 shares.
Expert Nutritionist Shan Stratton Recruited to VitaminSpice Team
WAYNE, Penn., March 23 /PRNewswire-FirstCall/ — Poised and ready to hit retailers’ shelves, VitaminSpice (OTC Bulletin Board: VTMS) (German WKN: A0YE4L) (www.VitaminSpice.net) has teamed up with big-league nutritionist Shan Stratton to help them pitch the value of the product to the public. Stratton, who has provided one-on-one nutritional training to such celebrities as Reggie Jackson, Joe Torre, Kurt Warner and Randy Johnson, believes VitaminSpice to be a commendable product with broad appeal.
Today’s SmallCapVoice.com Hot Stock to Watch:
Extensions, Inc. (Pink Sheets: EXTI)
Jack Canfield Endorses Newswire Publishing’s “Confessions of a Bank Director” as a Must Read
HOUSTON, March 24, 2010 (GLOBE NEWSWIRE) — Newswire.Net, a subsidiary of Extensions, Inc. (Pink Sheets:EXTI), announced today that Jack Canfield, the Co-Author of the Chicken Soup for the Soul series has endorsed Dr. Barkat Charania’s book titled “Confessions of a Bank Director: The Entrepreneurs Guide to Credit, Capital and Cash Flow” as a must read.
SmallCapVoice Clients’ News
Freshwater Technologies, Inc. (OTCBB: FWTC)
Freshwater Increases Technical Support for FW Water Activation Products
Mar. 23, 2010 (Business Wire) — Freshwater Technologies Inc. (OTCBB: “FWTC”) is pleased to announce that it will be adding up to 5 new FW Activator technical consultants over the next year to service the Latin American Countries where it distributes the FW Activator. Freshwater’s water activation technology has attracted significant commercial interest in the ability to solve a number of water treatment applications, including heating and cooling, greenhouse agriculture and manufacturing productivity. The addition of these experienced FW Activator technical consultants will greatly support our local distributors and agents in sales presentations, Activator installation and customer service.
Other Small Cap News
Bell Microproducts’ Latin America Division Signs Agreement With Dell
Addition of Dell’s Consumer Product Line Strengthens Bell Micro Latin America’s Offerings in Growing Mobility Space
SAN JOSE, Calif., March 23, 2010 (GLOBE NEWSWIRE) — Bell Microproducts Inc. (Nasdaq:BELM), one of the world’s largest value-added distributors of storage and computing technology, today announced that its Latin American division has signed a distribution agreement with Dell Inc. Under the terms of the agreement, Bell Micro will distribute Dell laptops and netbooks to retailers and SMBs throughout Latin America.
Z-AXIS, Inc. (Nasdaq: VIDE)
Z-AXIS Begins New Fiscal Year With Record Backlog; Adds US Manufacturing Capacity
PHELPS, N.Y., March 23, 2010 (GLOBE NEWSWIRE) — Z-AXIS, Inc., a wholly-owned subsidiary of Video Display Corporation (Nasdaq:VIDE), begins its February 28, 2011 fiscal year with a record backlog, more than 50% greater than the previous fiscal year. The US-based electronics design and manufacturing company achieved steady quarter-to-quarter growth during its fiscal year ended Feb. 28, 2010, and is planning for accelerated growth based on current bookings for products to be delivered this year.
NexMed, Inc. (Nasdaq: NEXM)
NexMed, Inc. Enters into Distribution Agreement for Japan
SAN DIEGO–(BUSINESS WIRE)–NexMed, Inc. (Nasdaq: NEXM), a company with a revenue generating discovery pre-clinical CRO and a pipeline of products based on the NexACT(R) technology, today announced that its wholly-owned subsidiary, Bio-Quant has signed a distribution agreement with Cosmo Bio Co., Ltd, under which Cosmo Bio will market Bio-Quant’s discovery and pre-clinical contract research services throughout Japan.
Competitive Technologies, Inc. (NYSE Amex: CTT)
Competitive Technologies’ Calmare(R) Therapy Medical Device Treating Cancer Patients in Virginia
FAIRFIELD, Conn., March 23, 2010 (GLOBE NEWSWIRE) — Competitive Technologies, Inc. (NYSE Amex:CTT) announced that a premier physician oncology practice based in Virginia has begun using CTT’s Calmare(R) Therapy pain therapy medical device to treat patients suffering from pain related to cancer, under the direction of several medical oncologists. This group with more than 30 years of experience caring for cancer patients is affiliated with a national cancer treatment and research network.
Flexible Solutions International, Inc. (NYSE Amex: FSI)
FSI Announces Fourth Quarter, 2009 Revenue Exceeds 2008 Period
Despite the recent economic slow down, orders continue to increase in all product lines as distributors face depleted inventories and the economy continues to improve. The result is an increase in fourth quarter (Q4), 2009 revenue to $2.40million, up from $2.24million in Q4, 2008, or a year over year increase of 7%. Combined with the significant increase in Q3 09 [sales up 17%] and compared with the revenue declines seen during first and second quarters of 2009, this consecutive increase in sales confirms the possibility of a significant reversal in the revenue trend for the Company.
MF Global Holdings Ltd. (NYSE: MF)
MF Global Appoints Jon S. Corzine Chairman and Chief Executive Officer
Former Chairman and Senior Partner of Goldman Sachs, New Jersey Governor and U.S. Senator to Join International Brokerage Firm
Company Provides Update on Fourth Quarter Financial Performance
NEW YORK–(BUSINESS WIRE)–MF Global Holdings Ltd. (NYSE: MF), a leading broker offering customized solutions in global cash and derivatives markets, today announced that its board of directors has appointed Jon S. Corzine as chairman and chief executive officer, effective immediately.
Sprint (NYSE: S)
World’s First 3G/4G Android Phone, HTC EVOTM 4G, Coming this Summer Exclusively from Sprint
HTC EVO 4G offers one of the most robust multimedia experiences on a wireless phone today; features Android(TM) 2.1, one of the industry’s largest touch-screen displays, 8.0 MP camera, HD video capture, HDMI output, Mobile Hotspot capability and HTC Sense(TM)
Sprint (NYSE: S) and HTC Corporation today announced summer availability of the world’s first 3G/4G Android handset, HTC EVO 4G exclusively from Sprint. HTC EVO 4G delivers a multimedia experience at 4G speeds that is second to none, making it possible to download music, pictures, files, or videos in seconds – not minutes – and watch streaming video on the go with one of the largest pinch-to-zoom displays, at 4.3 inches, in the wireless industry.
Gentium S.p.A. (Nasdaq: GENT)
Gentium Announces Defibrotide Results Highlighted at Opening Session and Symposium at EBMT Annual Meeting
Gentium S.p.A. (Nasdaq:GENT) today announced that the abstract titled, “Defibrotide prevents hepatic VOD and reduces significantly VOD-associated complications in children at high risk: final results of a prospective phase II/III multicenter study,” was presented on Sunday, March 21, 2010, at the opening session of the European Blood and Marrow Transplantation (EBMT) 36th Annual Meeting in Vienna. The abstract received the esteemed Van Bekkum Award for the best abstract submitted to the physician’s program. Dr. Selim Corbacioglu, Professor of Pediatrics, University of Regensburg (Germany) and Principal Investigator of the Pediatric Prevention trial, accepted the award and presented the final results of the study.
Arena Pharmaceuticals Inc. (Nasdaq: ARNA)
Arena Pharmaceuticals starts narcolepsy drug study
Arena Pharmaceuticals starts early-stage study on potential narcolepsy drug
SAN DIEGO (AP) — Development-stage biotechnology company Arena Pharmaceuticals Inc. said it started an early-stage study of a potential narcolepsy and cataplexy treatment.
Narcolepsy is a sleep disorder and cataplexy is a sudden loss of muscle tone that frequently affects people with narcolepsy.
Aastrom Biosciences, Inc. (Nasdaq: ASTM)
Aastrom Announces Treatment of Final Patient in RESTORE-CLI Clinical Trial
Company Plans to Initiate Phase 3 Planning Discussions With the FDA and Report Six-Month Interim Results for all Enrolled Patients Later This Year
Aastrom Biosciences, Inc. (Nasdaq:ASTM), a leading developer of autologous cellular therapies for the treatment of severe cardiovascular diseases, today reported that the final patient has been treated in the company’s ongoing multi-center, randomized, double-blind, placebo-controlled U.S. Phase 2b clinical trial designated RESTORE-CLI. This patient received intramuscular injections of either Aastrom’s tissue repair cells (TRCs) or electrolyte solution (placebo) for the treatment of critical limb ischemia (CLI), the end-stage of peripheral arterial disease. People with CLI face a high risk of amputation and, in some cases, death. Approximately 1 million people in the U.S. suffer from CLI, which results in more than 160,000 amputations each year.
FuelCell Energ (Nasdaq: FCEL)
FuelCell Energy Announces Passage of Renewable Portfolio Standard by South Korean National Assembly
FuelCell Energy’s Direct FuelCell(R) Power Plants Operating on Both Biogas and Natural Gas Qualify Under the New Program
FuelCell Energy (Nasdaq:FCEL), a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government and utility customers, today announced the passage of a Renewable Portfolio Standard (RPS) by the National Assembly of the Republic of Korea, requiring 4 percent clean energy generation by 2015 and 10 percent by 2022.
OceanFreight Inc. (Nasdaq: ONCF)
OceanFreight Inc. Announces an Order for Three VLOCs
OceanFreight Inc. (NASDAQ:OCNF), a global provider of seaborne transportation services for both drybulk and energy commodities, announced today that it has entered into an agreement to build three 206,000 DWT Very Large Ore Carriers (VLOCs) at Shanghai Waigaichao Shipbuilding. Two of the vessels are scheduled to be delivered in the second and fourth quarters of 2012 and the third vessel is scheduled to be delivered in the first quarter of 2013. The total purchase price for the three vessels is approximately $204 million.
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