Pallavi Gogoi, AP Business Writer
Stocks open higher as market approaches new year
Stocks open higher amid light trading in the last trading days of the year
NEW YORK (AP) — Stocks were higher Wednesday morning in thin trading as the market approaches the end of the year.
In the absence of any fresh economic data, traders' moods appear to be buoyed by the spate of mostly positive economic news in recent weeks. Higher corporate profits have also boosted stock prices for much of the year.
The Dow Jones industrial average is up 11 percent for the year, while the S&P 500 is up 13 percent. The Dow is back to levels last seen in August 2008, before the financial crisis came to a head a month later.
Trading volumes on Wall Street are expected to be light throughout this week. Many investors have already closed their books for the year and are on vacation until January.
Yesterday's Top Performing Small Cap Stock:
Concordis Group, Inc. (Pink Sheets: CNGI)
Concordis Group, Inc. was a SmallCapVoice.com top performer closing up over 26% on trading volume of 36,000 shares.
Concordis Group, Inc. is a diversified holding company that provides investment brokerage services and business insurance products for its clients. Concordis Group, Inc. provides investment products and risk management solutions through its two wholly owned subsidiaries, Concordis Insurance SPC and Puritan Securities, Inc.
Concordis Group's go-to-market strategy is based upon strong organic growth combined with strategic acquisitions of companies in the financial services and insurance industries that create additional synergy, have positive cash-flow, exhibit strong long-term growth potential, and have highly qualified management teams.
Today's SmallCapVoice.com Hot Stock to Watch:
Madison Ave. Media, Inc. KHZM
Madison Ave. Media Year-End Chairman Statement
BOCA RATON, FL — (Marketwire) — 12/28/10 — Madison Ave. Media, Inc. KHZM issued the following statement from its Chairman:
To our Shareholders, Customers, Employees and Partners:
Thank you for making this year exceptional and noteworthy for Madison Ave. Media. Over the course of the last twelve months, you have ardently and loyally assisted and guided us at every turn. Looking back, the fruits of our labor are evident and clear. We have established a working alliance to provide digital services to the third largest newspaper in America, The McClatchy Company and their The Kansas City Star, as well as many of the nation's leading media and marketing services companies.
Other Small Cap News
Tower Semiconductor Ltd. TSEM
TowerJazz Signs Amendment to Lease Agreement for Manufacturing Facility in Newport Beach, CA
Confirms extension option for TowerJazz to retain fab building through March 2027
NEWPORT BEACH, Calif.–(BUSINESS WIRE)– TowerJazz, the global specialty foundry leader, today announced it has signed an amendment to its existing lease confirming the validity of TowerJazz's lease and extension option, and confirming its right to retain the building that houses its semiconductor manufacturing facility in Newport Beach through March 2027. This amendment was signed with TowerJazz's new landlord, Uptown Newport LP, a joint venture consisting of a fund controlled by New York-based DRA Advisors LLC and an affiliate of The Shopoff Group, a real estate investment firm based in Irvine, CA.
ZIOPHARM Oncology, Inc. ZIOP
ZIOPHARM Oncology Announces First Patient Dosed in Phase I Study of Palifosfamide in Small Cell Lung and Other Cancers
NEW YORK–(BUSINESS WIRE)– ZIOPHARM Oncology, Inc. ZIOP, announced today that the first patient has been dosed in a Phase I, single arm, dose escalation study at the Indiana University Cancer Center of intravenous (IV) palifosfamide (ZIO-201) in combination with etoposide (VP-16) and cisplatin/carboplatin (platinum) in the treatment of small cell lung cancer (SCLC) and other cancers.
Sucampo Pharmaceuticals, Inc. SCMP
Sucampo Pharmaceuticals, Inc. Acquires Sucampo AG to Strengthen Its Prostone Intellectual Property Portfolio
Acquisition Advances SPI Toward Goal of Becoming a Global, Fully Integrated Biopharmaceutical Company
BETHESDA, Md.–(BUSINESS WIRE)– Sucampo Pharmaceuticals, Inc. SCMP today announced the acquisition of Sucampo AG (SAG), a Swiss–based patent-holding company and its wholly-owned subsidiary, Sucampo AG Japan (SAGJ), a patent maintenance company, from Ryuji Ueno, M.D., Ph.D., Ph.D., and Sachiko Kuno, Ph.D., co-founders and majority shareholders of Sucampo Pharmaceuticals, Inc. (SPI).
Marina Biotech, Inc. MRNA
Marina Biotech Receives Orphan Drug Status Designation for CEQ508 for the Treatment of Familial Adenomatous Polyposis
BOTHELL, WA–(Marketwire – 12/29/10) – Marina Biotech, Inc. MRNA, a leading RNAi-based drug discovery and development company, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to the company's drug candidate CEQ508 for the treatment of Familial Adenomatous Polyposis (FAP). CEQ508 is the first drug in a novel class of therapeutic agents utilizing the transkingdom RNA interference (tkRNAi) platform and the first orally administered RNAi-based therapeutic. The Company is in the process of enrolling patients and expects to dose patients in early 2011.
Radient Pharmaceuticals Corporation (NYSE Amex: RPC)
Radient Pharmaceuticals Signs Distribution Agreement With Hong Kong Based Bio-Asia Diagnostics Co. Ltd.
TUSTIN, CA–(Marketwire – 12/29/10) – Through its subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corporation RPC, a US-based company specializing in the research, development, and international commercialization of In Vitro Diagnostic cancer tests, announced today it has signed a full-service five-year exclusive distribution agreement with Hong Kong based Bio-Asia Diagnostics Co. Ltd. (Bio-Asia). The signing of this distribution agreement will enable RPC to bring its Onko-Sure(TM) IVD cancer test into the Hong Kong healthcare market. The agreement also grants Bio-Asia non-exclusive rights to distribute Onko-Sure®, for research use only (“RUO”), in the People's Republic of China (“PRC”).
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