David K. Randall, Associated Press Business Writer
Stocks slip on concerns euro crisis will spread
US stocks fall after Ireland asks for help from the European Union, traders ask who’s next
NEW YORK (AP) — Stock prices and the euro fell Monday as investors worried that Ireland’s request for financial assistance may not be the last bailout needed in Europe.
Ireland formally asked for help from its neighbors over the weekend after falling into a financial crisis brought on by mounting losses at three of its nationalized banks. Details of the loan package were still being worked out, but Irish Finance Minister Brian Lenihan has said the rescue would not exceed euro100 billion ($137 billion).
It was the second time that the European Union has come to the rescue of one of its 16 members that use the euro. In May, the EU and the IMF committed $140 billion to Greece to prevent the country from defaulting on its debt. Euro zone members have been willing to prop up each other’s finances in hopes of avoiding a financial crisis that could cause the value of the euro to plummet.
The request initially pushed stocks higher in Europe. But the Euro Stoxx 50, an index of blue chip companies in countries that use the euro, fell 0.7 percent in afternoon trading there.
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 50% on trading volume of 40,600 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:
Tootie Pie Company (OTCBB: TOOT)
Tootie Pie Opens 5th Café Location
First Tootie Pie Gourmet Café in Dallas, TX Area
Nov. 19, 2010 (Business Wire) — Tootie Pie Company, Inc. (OTCBB:TOOT) will sell its gourmet pies in the newest Tootie Pie Gourmet Café, located in the prestigious “The Shops at Starwood” shopping center in Frisco, Texas. This will be the first Café in the Dallas, TX area.
Similar to the four other Tootie Pie Gourmet Cafés, this location will sell Tootie Pie, coffee, bagels, gourmet sandwiches, pastries and other comfort foods Monday through Thursday, 7 am until 7 pm; Friday and Saturday until 9 pm; and Sunday until 3 pm. This location is expected to be open for pie and coffee in time for the Thanksgiving holiday. The Company is looking for more locations in San Antonio, Austin, Houston and Dallas.
In a New Audio Interview at SmallCapVoice.com, Don Merrill, Tootie Pie Company’s President and CEO, Provides Details Regarding Recent News
Nov. 22, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview with Tootie Pie Company, Inc. (OTC.BB: TOOT), a premium baker and seller of high-quality, handmade pies is now available. The interview can be heard at http://smallcapvoice.com/blog/11-19-10-audio-interview-with-tootie-pie-company-otcbb-toot.
SmallCapVoice Clients’ News
BRAVADA International Ltd (Pink Sheets: BRAV)
BRAVADA Releases its First Two Collections of Body Active Jeggings (Stretch Active Jeans) on BravadaWomen.com, BRAVADA Diamante and BRAVADA Passion
Nov. 22, 2010 (Business Wire) — BRAVADA International Ltd. (www.BravadaWomen.com) (Pink Sheets:BRAV) announced today that it has released its first styles of its two collections of Stretch Active Jeggings, BRAVADA Diamante and BRAVADA Passion on www.BravadaWomen.com. BRAVADA’s Stretch Active Jeggings are high performance and high fashion active jeans with a specified amount of spandex material that provides an ideal amount of stretch and performance without impact to the fashion quality of the jean (Jegging). The BRAVADA Diamante and Passion Jeggings also provide additional body forming support and enhancement by lifting and supporting key areas on a female’s body. BRAVADA’s Jeggings lift, support and form a woman’s legs and hips providing an incredibly esthetically pleasing shape.
Other Small Cap News
Apricus Biosciences, Inc. (Nasdaq: APRI)
Apricus Bio Announces Pre-Clinical Data Showing Significant Improvement in Solubility and Absorption of NexACT®-Based Small Molecule Drugs Selected from the Biopharmaceutics Classification System
SAN DIEGO–(BUSINESS WIRE)– Apricus Biosciences, Inc., (“Apricus Bio”) (Nasdaq:APRI) today announced data from animal studies showing that the NexACT® technology significantly improved the oral delivery of five small molecule drugs tested, with the best improvements up to 20-fold, in terms of improvement in absorption. A total of 10 small molecule therapeutic drugs with known low solubility and/or permeability, according to the Biopharmaceuticals (“BCS”) Classification System, were selected for these studies, and represented the following classes: anti-inflammatory drugs, diuretics, anti-hypertensives, antibiotics, anti-psychotics, anti-Parkinson agents and proton pump inhibitors.
Boston Scientific Corporation (NYSE: BSX)
Boston Scientific to Acquire Sadra Medical
Innovative percutaneous aortic valve replacement system provides entry into emerging market of structural heart disease
NATICK, Mass. and LOS GATOS, Calif., Nov. 19, 2010 /PRNewswire-FirstCall/ — Boston Scientific Corporation (NYSE:BSX) today announced the signing of a definitive merger agreement, under which Boston Scientific will acquire Sadra Medical, Inc., a development-stage company in Los Gatos, California. Sadra is developing the first fully repositionable device for percutaneous aortic valve replacement to treat patients with severe aortic stenosis. The agreement calls for an upfront payment of $225 million plus additional potential payments of up to $225 million upon achievement of specified regulatory and revenue-based milestones through 2016.
Magal Security Systems Ltd (Nasdaq: MAGS)
Magal Notified of an Award of a $21.4 Million Contract for a Comprehensive Security System
YAHUD, Israel, November 22, 2010 /PRNewswire-FirstCall/ — Magal Security Systems, Ltd. (NASDAQ:MAGS) announced today that it received a formal notification from the Port Authority of an African country that it has won a tender to secure the main seaport of the country. The total value of the project is estimated to be $21.4 million, with a targeted completion date within two years after receipt of the formal order.
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