Stocks are higher following upbeat earnings reports and a fresh round of corporate acquisitions
European markets also rose following new plans by European Union leaders to push Greece to contain its growing debt problems. European leaders on Monday said Greece will have another month to come up with a plan to reduce its deficit
Kraft Foods Inc. and apparel retailer Abercrombie & Fitch reported earnings that beat expectations, while drugmaker Merck & Co. said its profit jumped after buying its longtime partner Schering-Plough Corp.
Earnings reports over the past month have mostly come in better than expected, but concerns about problems in the global economy have pushed the market lower in recent weeks. With the Greek debt crisis starting to ease, investors’ focus may return to the U.S. economy.
Meanwhile a bold acquisition move by the nation’s largest mall owner raised hopes that businesses are feeling more confident about the economy.
Simon Property Group has offered to acquire its ailing rival, General Growth Properties, for $10 billion. General Growth, the No. 2 mall operator, filed for bankruptcy protection last year.
In morning trading, the Dow Jones industrial average rose 72.03, or 0.7 percent, to 10,171.17. The Standard & Poor’s 500 index rose 8.28, or 0.8 percent, to 1,083.79, while the Nasdaq composite index rose 11.32, or 0.5 percent, to 2,194.85.
Yesterday’s Top Performing Small Cap Stock:
General Automotive Company (OTC BB: GNAU) was a SmallCapVoice.com top performer yesterday closing up over 15% on trading volume of 81,900 shares.
General Automotive Company (GNAU) is a provider of original equipment (OE) and aftermarket automotive parts and related automotive products at multiple levels of distribution throughout the United States and internationally. The Company operates through its wholly owned subsidiary, OE Source L.C. (OES). OES sells conventional auto parts that it imports directly from manufacturers, consolidators and distributors in the Far East to the customers in the United States.
GNAU last week announced it has an agreement to acquire privately held S.P.E.C. Inc. The transaction is expected to further position the Company as an organization that capitalizes on both organic growth as well as growth through strategic acquisition. S.P.E.C., based in Birmingham, AL, is a leading provider of high performance clutches and flywheels to the high performance automotive market. S.P.E.C., which reported unaudited revenue of approximately $5.6 million in 2009, will operate as a wholly owned subsidiary of GNAU.
Today’s SmallCapVoice.com Hot Stock to Watch:
XcelPlus Global Holdings, Inc. (Pink Sheets: XPGH)
European signatories of the Kyoto Protocols have opened up new sales opportunities for the industrial biofuels produced XcelPlus Global Holdings, Inc., and the company reports it is in active negotiation with several prospects. “A Perfect Storm of market conditions exists within countries that signed the Kyoto Protocols, and companies that need to amass carbon credits are calling us,” said J. Michael Parsons, president and CEO of XcelPlus Global Holdings Inc.
“Europe is ideal for us,” Parsons stated. “Because the price for all petroleum fuels is much higher in Europe to start with, we can be a very cost-effective replacement for No. 2 oil over there, without government subsidies. And because our products are not for ‘road use,’ we are unaffected by the normal European tariffs on biodiesel.”
SmallCapVoice Clients’ News
Lux Energy Corporation (OTCBB: LUXE)
Lux Energy Prepares to Open Up “B” Well at its West Central Alberta Project
CALGARY – Lux Energy Corp. (OTC BB: LUXE), an oil and gas production and exploration company, today announced that the operator of its West Central Alberta project has informed the Company that “B” well on the property is drilled, cased, equipped and tied into a production pipeline awaiting fracture stimulation.
Other Small Cap News
Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN)
Liberty Analytics Co. Initiates Independent Research Coverage on Rexahn Pharmaceuticals, Inc.
CALGARY, Alberta, Feb. 12, 2010 (GLOBE NEWSWIRE) — Liberty Analytics Co., a leading provider of large, small- and micro-cap independent investment research, today initiated coverage on Rexahn Pharmaceuticals, Inc. (Amex:RNN).
Pier 1 Imports, Inc. (NYSE: PIR)
Ahead of the Bell: Pier 1 Imports upgraded
Brian Nagel of Oppenheimer increased his rating on Pier 1 to “Outperform” from “Perform” and nearly tripled his price target on the shares to $9 from $3.50. The analyst said improved sales results show the changes being made by CEO Alex Smith and his executive team are working, coupled with improving economic conditions. The company’s shares rose 14 cents, or 2.6 percent, to $5.60 in premarket trading.
Research Frontiers Inc. (Nasdaq: REFR)
ID Research Pty Ltd Acquires License from Smart Glass Company Research Frontiers to Produce SPD-Smart Light Control Film and SPD-Smart Architectural Products
BALLARAT, Australia and WOODBURY, N.Y., Feb. 16, 2010 (GLOBE NEWSWIRE) — ID Research Pty Ltd (IDR) (the parent company of iGlass Pty Limited, also developer and licensor of iGlass(TM)) acquired a license from Research Frontiers Inc. (Nasdaq:REFR), the developer and licensor of patented VaryFast(TM) SPD-Smart(TM) light-control film technology.
Sequenom, Inc. (Nasdaq: SQNM)
Sequenom Announces Launch of SensiGene Fetal(XY) (Fetal Sex Determination) Test
Continued Roll-out of Innovative Molecular Laboratory Developed Tests from Sequenom Center for Molecular Medicine
Sequenom, Inc. (Nasdaq:SQNM) today announced the launch of the SensiGene(TM) Fetal(XY) (Fetal Sex Determination) test by Sequenom’s CAP accredited and CLIA-certified laboratory, Sequenom Center for Molecular Medicine (Sequenom CMM). This is the company’s second laboratory developed test powered by its SEQureDx(TM) technology.
Oncolytics Biotech Inc. (Nasdaq: ONCY)
Oncolytics Biotech(R) Inc. Receives Approval from the U.K. MHRA to Conduct Phase 3 Trial for REOLYSIN(R) in Head and Neck Cancers
Company to Host Clinical Update Conference Call
“Receipt of this approval clears the way for final preparations at the participating centres in anticipation of the start of enrolment in this trial and we expect to provide an update on timing in the near future,” said Dr. Brad Thompson, President and CEO of Oncolytics. “Conducting this trial in both the U.S. and Europe allows us to access many of the physicians that have worked with REOLYSIN previously and, if the trial is successful, provides us with the basis for regulatory submissions in both the key American and European markets.”
Cavico Corp. (Nasdaq: CAVO)
Cavico Signs Road Construction for Nam Pan 5 Hydropower Plant
HANOI, Vietnam–(BUSINESS WIRE)–Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today announced that it signed a road construction contract with Global Petroleum Power Company, an energy joint stock company. The revenue value of the contract is approximately $0.5 million.
Kodiak Oil & Gas Corp. (NYSE Amex: KOG)
Kodiak Oil & Gas Corp. Provides Interim Operations Update
Since commencing drilling activity in the middle Bakken on its Dunn County leasehold in November 2008, Kodiak has drilled and completed 10 oil producers, has an inventory of two wells awaiting initial completion activities and is drilling ahead in the horizontal leg of its thirteenth well.
About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client’s financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
Contact:
Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com
