Angela Moon, Reuters
Wall Street erases earlier losses; M&A news, data support
(Reuters) – Stocks erased earlier losses to trade flat by late morning on Thursday as a flurry of M&A deals and better-than-expected jobs data fed optimism to the market, although signs of economic weakness in Europe and Japan curbed appetite for risky assets.
Among the M&A announcements, shares of H.J. Heinz Co (HNZ) jumped 20 percent to $72.50 after it said Warren Buffett’s Berkshire Hathaway (BRKb) and 3G Capital will buy the company for $72.50 a share, or $28 billion including debt.
Also supporting the market, U.S. data showed the number of Americans filing new claims for unemployment benefits fell more than expected in the latest week. But data out of Europe showed a contraction of 0.6 percent in gross domestic product in the euro zone, the steepest for the bloc since the first quarter of 2009. Japan’s GDP shrank 0.1 percent in the fourth quarter, crushing expectations of a modest return to growth.
Yesterday’s Top Performing Small Cap Stock:
Crown Marketing Pharmaceuticals (OTCQB: CWNM)
Crown Marketing Pharmaceuticals was a SmallCapVoice top performer closing up over 16% on trading volume of 314,836shares.
Crown Marketing Patents Approved and Registered in South Africa
CHAPEL HILL, NC – (Marketwire) – 02/14/13 – Crown Marketing (OTCQB: CWNM) is pleased to announce that Patents for its Controlled Drug Delivery Technology have been approved and registered in South Africa. Crown is continuing to secure its worldwide patent rights as it pursues novel applications of its drug delivery technology.
About The Company:
Crown’s Controlled Drug Delivery Technology (CWNM) is a novel controlled-release technology, harnessing the principles of diffusion through precise mathematical formulas. The spectrum and reliability of pharmacokinetic profiles achievable with this technology is superior to currently marketed formulations. CDDT’s simple design allows for a high level of flexibility in matching chronotherapeutic requirements. Cost-efficiencies in the commercial manufacturing process, when compared to other drug delivery technologies, may constitute its most important competitive advantage.
Today’s SmallCapVoice.com Hot Stock to Watch:
Medical Marijuana Inc. (Pink Sheets: MJNA)
Medical Marijuana Inc.’s Dixie Elixirs and Edibles Brand featured on Fast Company
SAN DIEGO, February 13, 2013 /PRNewswire/ – Medical Marijuana Inc. (OTC: MJNA), a leading hemp industry innovator, is pleased to announce that its portfolio company, Red Dice Holdings, Dixie Elixirs & Edibles brand was featured yesterday, February 12th, on Fast Company as part of their Innovation Agents series.
Fast Company visited the Denver-based Dixie Elixirs company and interviewed Tripp Keber, President and CEO of Red Dice Holdings LLC, to discuss how innovation helps the company stay competitive in the rapidly growing Medical Marijuana industry. The video interview can be found at http://www.fastcompany.com/3005712/innovation-agents/willy-wonka-weed-wears-pinstripe-suit-and-makes-lot-green
Other Small Cap News
Northstar Global Business Services, Inc. (Pink Sheets: MDIN)
Northstar announces that its products are on shelves, and national rollout is ahead of schedule.
HOLBROOK, N.Y., Feb. 14, 2013 /PRNewswire/ — Northstar Global Business Services, Inc. Symbol (OTC PINK: MDIN) announced today that the rollout of it’s products to retail store shelves is now ahead of schedule. In fact, products are currently on about 5-10% of contracted store locations. As expected, Northstar began shipping products by January 1st of 2013, and initial national roll-out, was expected to take about a year, which would make Northstar’s products available from coast to coast by January of 2014. This timeframe has now been cut in half and is expected to take place in just a few short months. By as early as June of 2013, Northstar expects 100% of currently contracted store locations to be carrying Snorenz, and possibly Stem-Intense as well.
Flexpoint Sensor Systems, Inc., (OTCQB: FLXT)
Flexpoint Horn Pad Sensor Achieves Implementation Ready Status
DRAPER, Utah, Feb. 14, 2013 /PRNewswire/ — Flexpoint Sensor Systems, Inc., (OTCQB:FLXT) today announced that a Steering Wheel Horn Pad Sensor that features Bend Sensor® technology has achieved “Implementation Ready” status with a major US Fortune 100 Automaker that we have been jointly developing this product with for the last several years. There are a total of four vehicle platforms currently being considered for Flexpoint’s longer-lasting, more cost-effective horn switch. The sensor has been slated to replace their current horn assembly and implementation has been initially targeted for two of these platforms. An automobile platform is a shared set of common design, engineering, and production efforts, as well as major components over a number of outwardly distinct models and even types of automobiles, often from different, but related marques.
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