4-9-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
April 9th, 2010 | Author: Tom
Stocks rise slightly on more signs of growth
Fresh signs Friday that the economy continues its slow, steady recovery helped push stocks slightly higher.
Major indexes pulled back from their morning highs after Fitch Ratings cut its view on Greece’s debt. Stocks have been fluctuating in recent days on fresh concerns about the European nation’s ability to repay debt.
Earlier in the morning, stocks got a boost after reassuring statements from Greece’s finance minister and the head of the European Central Bank. Major European indexes are higher, while the dollar fell against the euro.
Stocks are getting a boost from rising commodity prices. Commodities mostly climbed on hopes demand will jump as the economy continues to improve. That has helped energy and materials companies. Chevron Corp. and ExxonMobil Corp. both rose.
Yesterday’s Top Performing Small Cap Stock:
Tootie Pie Company (OTCBB: TOOT)
Tootie Pie Company was a SmallCapVoice.com top performer yesterday closing up over 20% on trading volume of 30,110 shares.
Tootie Pie Company, Inc. (OTCBB:TOOT) announced this week that March 2010 unit sales jumped 27%, versus March, 2009.
Today’s SmallCapVoice.com Hot Stock to Watch:
CMG Holdings, Inc. (OTCBB: CMGO)
CMG Holdings, Inc. closed up 25% yesterday and is up 20% this morning.
SmallCapVoice Clients’ News
Socialwise, Inc. (OTCBB: SCLW)
Offerpal Media Rolls Out New Direct Payment Options Worldwide, Hires Industry Veteran Alex Brutin
Partnerships with Zeus Research, paysafecard, MyCard, Rixty, BillMyParents, ClickandBuy and others help boost developer monetization in nearly 200 countries
FREMONT, Calif., April 8 /PRNewswire/ — Offerpal Media (http://www.offerpalmedia.com), the leader in virtual currency payment alternatives, announced today that it recently integrated several new direct payment options into its platform in order to help social developers and online game publishers accept payments from users who do not have or are unwilling to use credit cards. The new payment options include pre-paid debit cards, phone cards, e-payment systems, parent-approved payments and more, from such partners as Zeus Research and STi Prepaid, paysafecard, MyCard, Rixty, BillMyParents, ClickandBuy and others—covering nearly 200 countries in all.
Other Small Cap News
The Meridian Resource Corporation (NYSE: TMR)
Meridian Announces Increase in Offer From Alta Mesa and Date of Reconvened Special Meeting of Shareholders
As previously announced, on April 6, 2010, The Meridian Resource Corporation (NYSE:TMR) adjourned its special meeting of shareholders regarding the adoption of the definitive merger agreement with Alta Mesa Holdings, LP. Following the adjournment, Meridian’s Board of Directors approved an amendment to the merger agreement whereby Alta Mesa has agreed to increase its offer price for the outstanding common stock of Meridian to $0.33 per share from $0.29 per share in cash, a 14% increase over its prior offer price and a 23% premium over the closing price of Meridian stock on April 7, 2010. The merger agreement was not amended in any other respect.
Claude Resources Inc. (NYSE Amex: CGR)
Claude Resources Inc. Receives Final Operating Permit for Santoy 8 Gold Project
Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) (“Claude” or the “Company”) is pleased to announce that the Santoy 8 Gold Project in north eastern Saskatchewan, Canada has received Ministerial Approval and Operating Permit to advance it from an Exploration Project to a Production Project. Santoy 8 is a satellite deposit located approximately fourteen kilometres (nine miles) east of the Seabee Mine and mill, is accessible by an all weather road and is connected to provincial power grid. This accomplishment is considered a major milestone for the Company and its shareholders.
Radient Pharmaceuticals Corporation (NYSE Amex: RPC)
Radient Pharmaceuticals Extends Onko-Sure Cancer Test Distribution Partnership for the Market of India That Includes Use as a General Cancer Screen
TUSTIN, CA–(Marketwire – 04/08/10) – Through its US-based subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corporation (RPC) (AMEX:RPC) announced today it has signed an exclusive 5-year sales, marketing, and distribution agreement with Jaiva Technologies, Inc., a US multinational biotechnology company, and its affiliate, Gaur Diagno (New Delhi), collectively referred to as (“JTGD”). Under the terms of the agreement, JTGD has the exclusive rights to distribute RPC’s Onko-Sure™ in vitro diagnostic cancer test in the country of India and is responsible for product sales, marketing, and governmental regulatory in the territory.
Bell Microproducts (Nasdaq: BELM)
Rorke Data Ships 10,000th Galaxy Raid Storage System
Storage Hungry Applications Embrace Purpose-Built, Scalable Storage Solutions
EDEN PRAIRIE, MN–(Marketwire – 04/08/10) – Rorke Data Inc., a data storage-centric, end-to-end solutions provider that is a wholly owned subsidiary of Bell Microproducts (NASDAQ:BELM), today announced that it has surpassed a major milestone: The company has shipped 10,000 of its Galaxy(R) RAID storage systems worldwide.
Chisen Electric Corporation (OTCBB: CIEC)
Chisen Electric to Be a Sponsor at the 2010 Shanghai Expo; Will Provide Eco-Friendly Battery Powered Signage in Select Areas of Expo Park
Chisen Electric Corporation (OTC.BB:CIEC) (the “Company”), a leading lead-acid motive battery producer for the electric bicycle market in the People’s Republic of China, announced today that it is very honored to participate as an alternative power source sponsor at the 2010 Shanghai Expo, and to provide an eco-friendly solution to power the road signage at selected Expo Park locations. Among other things, the Company sees the event as an opportunity to showcase Chisen’s great progress in developing alternative power solutions that are widely utilized by urban commuters throughout China on a daily basis.
China VoIP & Digital Telecom (OTCBB: CVDT)
China VoIP & Digital Telecom Subsidiary, Jinan Yinquan Technology Wins Virtualization Contract of Shandong Xinhua Medical Instrument Co., Ltd.
The Customer accepted Yinquan’s sophisticated integrated virtualization solution to improve their servers’ utilization rates and enhance datacenter security. Yinquan’s virtualization solutions will also reduce purchasing and administrative expenses, and will provide the Customer with higher energy-savings, lower overall emissions and a more environmentally-friendly computing solution. Yinquan was also awarded with a post-implementation services support contract, which should provide an ongoing, stable revenue stream.
Sino Payments, Inc. (OTCBB: SNPY)
Sino Payments to Provide Service for US and Japan Merchants
HONG KONG, April 9 /PRNewswire-FirstCall/ — Sino Payments, Inc. (www.sinopayments.com) (OTC Bulletin Board:SNPY) a provider of stand alone worldwide ecommerce processing capability today announced that it has submitted the first US ecommerce merchant account application to an existing bank partner.
RAM Energy Resources, Inc. (Nasdaq: RAME)
RAM Energy Resources Announces Borrowing Base Reaffirmed; Updates Operational Activity
Semi-annual borrowing base for revolving loan facility reaffirmed at $175 million
As a result of the semi-annual borrowing base redetermination, RAM’s commercial lenders on April 1, 2010 reaffirmed the company’s existing borrowing base of $175.0 million under RAM’s revolving facility based on the company’s proved reserves at year-end 2009. At March 31, 2010 the outstanding balance under the revolving facility was $135.0 million, with remaining availability of $40.0 million. Funds advanced under the revolver may be paid down and re-borrowed during the term of the revolver which matures November 2011.
Ambac Financial Group, Inc. (NYSE: ABK)
Ambac Financial Group, Inc. Announces Fourth Quarter Results
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced fourth quarter 2009 net income of $558.1 million, or net income of $1.93 per diluted share. This compares to a fourth quarter 2008 net loss of $2,340.8 million, or net loss of $8.14 per share. The fourth quarter 2009 results reflect a tax benefit recorded during the period, reduced loss and loss expenses recorded relative to fourth quarter 2008, and unrealized mark-to-market gains in the credit derivatives portfolio. In 2008, Ambac’s fourth quarter results reflected a significant negative net change in fair value of credit derivatives, higher loss and loss adjustment expenses and a large increase in the deferred tax asset valuation allowance.
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