Stocks are higher following upbeat earnings from Deere & Co. and a better-than-expected housing report
The report on housing construction and Deere’s results should keep traders focused on the U.S. economy for at least another day. Investors turned their attention from concerns overseas to domestic growth Tuesday, and sent stocks sharply higher.
Deere continued a run of strong earnings reports this week. The heavy equipment maker reported a much better than expected fiscal first-quarter profit, and raised its full-year earnings forecast.
The Commerce Department said construction of homes and apartments rose to an annual rate of 591,000 in January, better than the 580,000 units forecast by economists polled by Thomson Reuters.
The Federal Reserve also issued a promising economic report. The Fed said production at the nation’s factories, mines and utilities rose 0.9 percent last month, the seventh consecutive month of growth. It was also better than the 0.6 percent growth forecast by economists.
In midmorning trading, the Dow Jones industrial average rose 25.54, or 0.3 percent, to 10,294.35. The Standard & Poor’s 500 index rose 3.06, or 0.3 percent, to 1,097.93, while the Nasdaq composite index rose 6.09, or 0.3 percent, to 2,220.28.
Yesterday’s Top Performing Small Cap Stock:
GWS Technologies, Inc. (OTC BB: GWSC) was a SmallCapVoice.com top performer yesterday closing up over 13% on trading volume of 37,596 shares.
GWS stands for GreenWindSolar. We are an alternative energy technology company focused on developing, marketing, and implementing solar and wind-powered renewable energy products and solutions for various commercial, industrial, and governmental end-users. We are also building strategic partnerships with companies that are developing cutting-edge technologies and solutions. By harnessing the power of the wind and the sun, we’re helping consumers and businesses generate their own clean power, reduce carbon emissions, and become part of the global energy solution.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company, Inc. (OTC BB: TOOT)
Tootie Pie reported the best overall quarterly operating results in the Company’s history. The shift to increase retail sales growth from existing and planned acquisitions has positioned Tootie Pie for continued sales growth and profits.
Tootie Pie Company, Inc. reported a net profit of $29,771 on revenues of $910,837 for the period ending December 31, 2009 versus a net loss of $30,618 on revenues of $909,741 for the same period in 2008.
Gross profit held steady at $639,536 for the period, versus $625,257 for the same period in 2008. Gross margin after depreciation remained solid at 70% of net sales for the period, as compared to 69% for the same period in 2008.
“We improved our bottom line results, swinging from a loss to a profit; which coupled with an increase in unit sales, produced the best overall quarter in the Company’s history,” said Don Merrill, Tootie Pie Company’s President & CEO. “We made a strategic acquisition in October, with pie sales accounting for 25% of the revenues in these new shops during the period. We think that is significant.”
“We have kept the Company positioned for continued sales growth if the economy picks up; while greatly enhancing our margins through retail sales growth from existing and planned acquisitions. Overall, I believe 2009 will prove to be a turning point year for the Toottie Pie Company,” Merrill added.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels.
Other Small Cap News
Lions Gate Entertainment Corp. (NYSE: LGF)
Icahn announces tender offer for common shares of Lions Gate Entertainment Corp.
NEW YORK, Feb. 16 /CNW/ – Carl C. Icahn announced today that certain of his affiliated entities (the “Icahn Group”), which collectively hold approximately 18.9% of Lions Gate Entertainment Corp.’s outstanding common shares, intend to initiate a tender offer (the “Offer”) for up to 13,164,420 common shares of Lions Gate which, together with the common shares they already own, would constitute approximately 29.9% of the outstanding common shares of Lions Gate.
Astro-Med, Inc. (Nasdaq: ALOT)
Astro-Med Awarded $1.4 Million Boeing C-17 Aircraft Contract for Ruggedized Cockpit Printers and Ethernet Switches
The contract was placed by Boeing Defense, Space & Security, Long Beach, CA, and will generate approximately $1.4 million in revenues for Astro-Med during this fiscal year.
Spartan Motors Chassis Inc. (Nasdaq: SPAR)
Spartan Motors books order for 22 truck chassis
Spartan Motors sells 22 fire truck chassis to Beijing Fire Department
Financial terms were not disclosed, but the company said it was the largest order it has received from China since it began doing business there in 2002.
The contract calls for Spartan to deliver chassis to W.S. Darley & Co. in Itasca, Ill., which will add the body and pump systems to the trucks. The trucks are scheduled for delivery in the second and third quarters.
Crimson Exploration Inc. (Nasdaq: CXPO)
Crimson Exploration Inc. Announces Fourth Quarter 2009 Production Results, Year-End Reserves, and 2010 Operational Guidance
The significant improvement in our financial flexibility resulting from our recent equity offering positions us to pursue a 2010 capital program that will allow us to expand development of the potential in our East Texas and South Texas resource plays, in addition to increasing reserves, production and cash flow from our conventional assets.
Stoneridge, Inc. (NYSE: SRI)
Stoneridge Reports Fourth-Quarter 2009 Results
Continued positive operating income
Though net sales were significantly lower than last year, Stoneridge generated an operating profit of $2.2 million in the fourth quarter of 2009 as the benefits of previous restructuring initiatives and cost-reduction programs helped offset the market reduction.
Endeavour Silver Corp. (NYSE Amex: EXK)
Endeavour Silver Exercises Early Purchase of El Porvenir Cuatro Properties, Guanacevi District, Durango, Mexico
Bradford Cooke, Chairman and CEO, commented, “Porvenir Cuatro is yet another good example of the value of Endeavour’s business model. By acquiring fully built and permitted infrastructure, and bringing the funds and expertise needed to make brand new, high grade, silver-gold discoveries in famous old mining districts like Guanacevi, we have repeatedly shortened the mine development cycle for discovery to production, from the normal 5 to 10 years, to 6 to 12 months. For Porvenir Cuatro, we did not need the full two year option period so we chose an early exercise of our option to purchase these properties.”
Meadowbrook Insurance Group, Inc. (NYSE: MIG)
Meadowbrook Insurance Group, Inc. Reports Fourth Quarter and Full Year 2009 Results
Commenting on the results, Meadowbrook President and Chief Executive Officer Robert S. Cubbin stated: “We are very pleased with our results for the year. Gross written premiums increased by more than 50%, net operating EPS of $0.93 per share exceeded our range of expectations and, in a competitive market, our accident year combined ratio held steady at 97.9%. “
Tucows Inc. (NYSE Amex: TCX)
Tucows Announces a $10 million Stock Buyback Program
Tucows has also filed a notice of intention with the Toronto Stock Exchange (“TSX”) to make a normal course issuer bid through the facilities of the TSX. Tucows will have the option to repurchase its shares of common stock either through the facilities of the TSX or the NYSE AMEX Stock Exchange.
Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN)
Achillion Announces Positive 96-Week Data for Elvucitabine at the 17th Annual Conference on Retroviruses and Opportunistic Infections
“These 96-week data confirm our belief that elvucitabine offers a very promising treatment for use in combination therapy, and we are pleased to see that the response to elvucitabine in patients with HIV is sustained over time,” commented Michael D. Kishbauch, President and CEO of Achillion. “We recently announced a license agreement for the development and commercialization of elvucitabine in China, and with these data we will continue to seek additional partnerships in other geographies so that this important treatment can continue to advance.”
Dynavax Technologies Corporation (Nasdaq: DVAX)
Dynavax Receives Canadian Approval to Conduct Phase 3 Trials of HEPLISAV(TM)
Initiation of the Canadian studies is expected to facilitate enrollment for the multi-center trials. Immunizations in the U.S. have begun, while the Canadian sites are expected to begin enrollment shortly. In Canada, the Health Products and Food Branch (HPFB) of Health Canada regulates the development of new drugs and vaccines.
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