Stocks retreat ahead of holiday weekend
Stocks fall modestly to end volatile month of trading; Dow off 7 percent in May
Stocks fell modestly in early trading Friday as investors put a close on a turbulent month of trading.
The dip in major indexes is a stark contrast to the volatile swings that have been prevalent throughout May. Worries about Europe’s debt problems have driven markets sharply lower in May.
The Dow Jones industrial average is down nearly 7 percent for the month, which would be the biggest May drop since 1962.
A mixed report on personal spending and income tempered any momentum that investors might have tried to carry over from a big surge on Thursday. The Dow climbed nearly 285 points Thursday, which was the index’s second best day of the year.
Yesterday’s Top Performing Small Cap Stock:
GWS Technologies, Inc. GWSC
GWS Technologies, Inc. was a SmallCapVoice.com top performer yesterday closing up over 17% on trading volume of 66,995 shares.
In a new audio interview at SmallCapVoice.com, Richard Reincke, CEO of GWS Technologies, Inc., provides details regarding recent news.
The interview can be heard at http://smallcapvoice.com/blog/5-11-10-audio-interview-with-gws- technologies-inc-otcbb-gwsc/
GWS stands for GreenWindSolar. We are an alternative energy technology company focused on developing, marketing, and implementing solar and wind-powered renewable energy products and solutions for various commercial, industrial, and governmental end-users. We are also building strategic partnerships with companies that are developing cutting-edge technologies and solutions. By harnessing the power of the wind and the sun, we’re helping consumers and businesses generate their own clean power, reduce carbon emissions, and become part of the global energy solution.
Today’s SmallCapVoice.com Hot Stock to Watch:
Aerius International Inc. (Pink Sheets: AERS)
Aerius won the Frost & Sullivan North American 2009 Green Technologies Award for other benefits Aerius 3G phones deliver including up to 5 more hours of battery life, 60% fewer dropped calls, longer range, and a 99.4% reduction of handset signal transmissions absorbed by users.
PowerIdea in Shenzhen China, one of the largest manufacturers of ruggedized phones in the world, has been licensed by Aerius to make Aerius tween phones in addition to other Aerius equipped phones for children to be introduced to carriers and retailers worldwide.
"The second Aerius equipped phone will be a smartphone based on industry forecasts that smartphone sales will total 2.5 billion between 2010 and 2015," said Chuck Closterman, Aerius VP International Sales. "We forecast Aerius can sell 150 million or more smartphones into that 2.5 billion market by 2015," Closterman added.
SmallCapVoice Clients’ News
AGR Stone & Tools, Inc. AGRT
AGR Stone & Tools USA, Inc. Becomes Wholly Owned Subsidiary of AGR Tools, Inc. Effective May 27, 2010
AUSTIN, TX, May 27 /PRNewswire-FirstCall/ – AGR Tools Inc. is pleased to announce that it has closed the share exchange transaction with AGR Stone & Tools USA, Inc. ("AGR USA") effective today, May 27, 2010. Pursuant to the share exchange agreement between the two companies dated October 29, 2009, AGR Tools issued 46,186,516 shares of its common stock to the shareholders of AGR USA at the closing, which resulted in AGR USA becoming its wholly owned subsidiary. Also at the closing, AGR Tools retired 25,000,000 shares of its common stock held by a former officer. It currently has a total of 81,186,516 issued and outstanding shares of common stock.
Other Small Cap News
CytRx Corporation CYTR
Research Trial Evaluating CytRx’s Bafetinib in Brain Tumor Model to be Presented at the American Society of Clinical Oncology (ASCO) Annual Meeting
CytRx Corporation CYTR, a biopharmaceutical company specializing in oncology, today announced that its drug candidate bafetinib (formerly known as INNO-406) demonstrated statistically significant inhibition of glioblastoma multiforme cell lines in a preclinical trial. Glioblastoma multiforme is the most common and aggressive primary adult brain tumor. Data from the trial, titled "Preclinical evaluation of Lyn kinase inhibition for treatment of glioblastoma multiforme," will be presented in a poster at the 46th Annual Meeting of the American Society of Clinical Oncology (ASCO) being held June 4-8, 2010 in Chicago.
Dynavax Technologies Corporation DVAX
Dynavax’s Two Phase 3 HEPLISAV Trials Cleared by DSMB to Continue Immunizations
Second Safety Assessment Complete
BERKELEY, CA–(Marketwire – 05/27/10) – Dynavax Technologies Corporation DVAX today announced that the Data Safety Monitoring Board (DSMB) established for Dynavax’s two ongoing Phase 3 trials for HEPLISAV™ has completed the second of its planned safety assessments. The evaluation included data from 2,264 subjects that received their first injection, 1,611 of whom received their first and second injections. The DSMB determined that the studies may continue without modification.
FreeSeas Inc. FREE
FreeSeas Announces 2010 First Quarter Financial Results
Company to Hold Conference Call at 11:00 AM ET on May 27, 2010
Mr. Alexandros Mylonas, CFO, added, "Our quarterly results show an improvement of net debt from $128.4 million at December 31, 2009 to $121.1 million at March 31, 2010, translating into a net debt over total assets ratio of approximately 41%. Based on improving chartering rates and disciplined cost management, these metrics are expected to further improve in future quarters positioning the Company for the expansion and renewal of its fleet."
Origin Agritech Limited SEED
Origin Agritech Limited Sells Minority Stake in Biocentury for RMB 60M
RMB 60M exceeds the original RMB 31M investment in 2006, allows company to focus on growth areas
Origin Agritech Limited SEED ("Origin" or the "Company"), a vertically–integrated supplier of hybrid and genetically-modified crop seeds in China, announced it has divested its minority 34.0% ownership in Biocentury Transgene, a cotton seed producer in southern China, to an existing private investor in Biocentury Transgene for RMB 60.0M. This move is in consideration of Origin’s corporate strategy to maximize its portfolio and focus on markets and segments where synergies can be fully realized. The divestment will incur capital gains but have no significant effect on revenues and earnings 2010.
Navarre Corporation NAVR
Navarre Corporation Evaluating Strategic Alternatives for FUNimation Entertainment
MINNEAPOLIS, May 27, 2010 (GLOBE NEWSWIRE) — Navarre Corporation NAVR a publisher and leading distributor of computer software, home entertainment media and related products, today announced that it has engaged Houlihan Lokey to assist it in structuring and negotiating a potential transaction for the sale of FUNimation Entertainment. There can be no assurances that this process will result in the consummation of a transaction.
Force Protection, Inc. FRPT
Force Protection Provides Additional Information Concerning Its Participation in the Land 121 Competition
LADSON, S.C.–(BUSINESS WIRE)–Force Protection, Inc. FRPT, a leading survivability solutions provider, today provided additional information related to the Australian Government’s Land 121 Phase 4 Project for the Protected Mobility Vehicle – Light (PMV-L) prototype ("Land 121").
Rubicon Minerals Corporation (NYSE Amex: RBY)
Rubicon Intersects 1.24 oz/ton Gold Over 22.5 feet True Thickness Close to Proposed Drift Location at F2 Core Zone, Red Lake, Ontario
THUNDER BAY, ON, May 27 /PRNewswire-FirstCall/ – Rubicon Minerals Corporation RBY is pleased to announce results from drill hole 305-05 at its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. This hole is significant as it represents the first test from the underground 305 metre level across the F2 Core Zone in the area of the intended cross-cut.
Maxygen Inc. MAXY
Maxygen announces new $10M stock buyback plan
Maxygen announces new $10 million stock repurchase plan
REDWOOD CITY, Calif. (AP) — Biotechnology company Maxygen Inc. said Thursday it will may back up to $10 million shares of its common stock under a new repurchase program.
The company said the buyback program runs through Dec. 31.
Since December 2009, Maxygen said it has spent about $46.9 million buying back shares.
Hill International HIL
Hill International Awarded Two Major Contracts from WSDOT
MARLTON, N.J. and BELLEVUE, Wash., May 27, 2010 (GLOBE NEWSWIRE) — Hill International HIL, the global leader in managing construction risk, announced today that it has recently been awarded two major contracts from the Washington State Department of Transportation (WSDOT).
NIC Inc. EGOV
Colorado Extends eGovernment Contract with NIC
DENVER–(BUSINESS WIRE)–The Colorado Statewide Internet Portal Authority (SIPA) has renewed the contract for Colorado Interactive, LLC, to continue to manage the state of Colorado’s official state Web portal (http://www.colorado.gov) for an additional four years. Colorado Interactive is part of the NIC EGOV family of companies and signed its original contract with the state in 2005.
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