Stephen Bernard, AP Business Writer
Stocks mixed as caution about recovery remains
Stocks mixed even as claims for unemployment benefits fall more than expected
NEW YORK (AP) — Major stock indexes turned mixed Thursday as a drop in new claims for unemployment benefits wasn’t enough to resolve worries about the economy.
The Dow Jones industrial average fell 7 points in late morning trading after getting an early 45-point lift from the weekly unemployment report. Broader indexes also traded in a narrow range.
“It really doesn’t change the trend,” Peter Cardillo, chief market economist at Avalon Partners Inc. said of the report, which showed that initial claims for unemployment benefits fell more than expected last week. The economy is still sputtering, so investors are cautious, particularly ahead of Federal Reserve chairman Ben Bernanke’s speech Friday.
Cardillo said investors are anxious to see if Bernanke gives any indication about the pace of recovery or indicates the Fed is worried that the U.S. might slip back into recession.
Yesterday’s Top Performing Small Cap Stock:
Car Charging Group, Inc. CCGI
Car Charging Group, Inc. was a SmallCapVoice.com top performer closing up over 2% on trading volume of 23,200 shares.
Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with various landowner partners to identify appropriate locations for its charging stations. The Company seeks to provide convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.
Today’s SmallCapVoice.com Hot Stock to Watch:
Convenience TV Inc. CRPZ
Convenience TV Expands Into Eastern US
LOS ANGELES, CA — (Marketwire) — 08/26/10 — Convenience TV Inc. CRPZ is pleased to announce that it has completed its initial eastern installations with 5 Convenient Food Mart Stores in Wheeling, West Virginia. This is the Company’s first step in expanding its network to the eastern United States market.
Company President and CEO Mr. Norman Knowles states: “These successful installations represent a significant step in the expansion of our network into a national presence.”
Other Small Cap News
Level 3 Communications, Inc. LVLT
Transbeam Taps Level 3′s Fiber-Optic Network to Expand Market Presence
Level 3’s Transport Services Enable Transbeam to Expand Market Presence to Boston, Philadelphia and Washington
BROOMFIELD, Colo.–(BUSINESS WIRE)–Level 3 Communications, Inc. LVLT today announced that it has expanded its service relationship with Transbeam, Inc., a premier provider of voice and data services, to include transport services to Boston and later to Philadelphia and Washington, D.C.
Since 1996, New York City-based Transbeam has offered its customers a variety of integrated communications solutions, such as carrier grade Ethernet, hosted private branch exchange (PBX) and customized data delivery solutions. Under the terms of the agreement, Level 3 will provide Transbeam with fiber connectivity for services in the Boston area, with later expansion planned to Philadelphia and Washington, D.C. by the end of 2010.
Antigenics, Inc. AGEN
The Fourth Product Candidate Containing Antigenics’ QS-21 In Phase 3 Clinical Development
GSK Commences Phase 3 Clinical Trial with Shingles Vaccine Containing QS-21
LEXINGTON, Mass.–(BUSINESS WIRE)–Antigenics, Inc. AGEN today announced that GlaxoSmithKline’s (GSK) herpes zoster vaccine candidate, which contains Antigenics’ QS-21 Stimulon® adjuvant as a key component, has commenced Phase 3 clinical trials for the prevention of shingles. GSK plans to study more than 30,000 patients globally for the debilitating condition which currently has limited treatment and prevention options available.
Pacific Sunwear of California Inc. PSUN
Analyst raises rating on Pacific Sunwear
Caris analyst raises rating on Pacific Sunwear, cites improving stores and less discounting
NEW YORK (AP) — Teen retailer Pacific Sunwear of California Inc.’s stores are improving and it is relying less on discounting, an analyst said Wednesday in lifting her rating on the company.
THE OPINION: Caris & Co. analyst Dorothy Lakner raised her rating to 3/Average from 4/Below Average after the company issued its quarterly results late Tuesday. The retailer posted a wider loss for its fiscal second quarter as sales fell 10 percent and issued a third-quarter outlook that partly fell below analyst expectations.
Uranium Resources, Inc. URRE
Uranium Resources, Inc. to Begin Drilling in Historic Grants Mineral Belt
Hires Local Drilling Contractor in Ambrosia Lake
LEWISVILLE, Texas–(BUSINESS WIRE)–Uranium Resources, Inc. URRE (“URI”) announced today that the Company expects to begin drilling on its Section 13 property in Ambrosia Lake in early September. Stewart Brothers Drilling Company of Milan, New Mexico, has been contracted by URI to conduct the drilling. The objective of the drilling activity is to evaluate the suitability of the property for in-situ recovery (“ISR”) mining.
AdvanSource Biomaterials Corporation ASB
AdvanSource Biomaterials Announces Patent for Antimicrobial Polyurethane Resins
WILMINGTON, Mass.–(BUSINESS WIRE)–AdvanSource Biomaterials Corporation (NYSE Amex: ASB), a leading developer, manufacturer and seller of advanced polymer technologies and materials for a broad range of medical devices, today announced that it has received a “Notice of Allowance” from the U.S. Patent and Trademark Office in connection with its antimicrobial patent application filed in June 2007. U.S. Patent No. 7,772,296, which is entitled “Antimicrobial Polyurethane Resins and Products Made Therefrom,” covers a drug-free, antimicrobial technology to eradicate Methicillin-resistant Staphylococcus aureus (“MRSA”) clinical infections associated with medical devices.
Aoxing Pharmaceutical Company, Inc. (NYSE Amex: AXN)
Aoxing Pharmaceutical Company Receives Clinical Trial Approval for Buprenorphine/Naloxone Sublingual Tablets for Opioid Addiction Treatment
National Institute on Drug Dependence to Administer Study for Novel Opioid Dependence Therapy in China
NEW YORK, NY–(Marketwire – 08/24/10) – Aoxing Pharmaceutical Company, Inc. AXN (“Aoxing Pharma”), a specialty pharmaceutical company focusing on research, development, manufacturing and distribution of narcotic and pain-management products, today announced that the China SFDA has granted approval of the company’s New Drug Application to initiate the registration clinical trial of Buprenorphine/Naloxone sublingual tablets for opioid addiction treatment. The approval enables Aoxing Pharma to move forward to the final development stage with this therapy, which is novel in China as it is not yet available to patients.
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