5-11-09 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
May 11th, 2009 | Author: Tom
Stocks are lower as investors book profits
Investors cashed in some of their gains Monday as the financial industry pulled back following last week’s advance.
Three of the banks that the government said had enough capital to handle a deeper recession said Monday they planned to issue common stock to help repay loans they received last fall as part of the government’s Troubled Asset Relief Program.
U.S. Bancorp, Capital One Financial Corp. and BB&T Corp. all announced plans to sell common shares that could raise between $1.5 billion and $2.5 billion.
Stocks rallied last week, extending Wall Street’s two-month advance, partly due to the disclosure of the government’s bank stress test results.
This week, the markets will also be focusing on consumer spending. First-quarter earnings figures are expected from Wal-Mart Stores Inc., Macy’s Inc. and other retailers and the Commerce Department reports retail sales for April.
Consumer spending accounts for more than two-third of economic activity so investors will be eager for forecasts from key retailers to help determine whether the economy is stabilizing as many investors hope.
Yesterday’s Top Performing SmallCapVoice.com stocks:
ZAGG, Inc. (OTC BB: ZAGG) was a SmallCapVoice.com top performer moving up over 12% on trading volume of 477.394 shares.
ZAGG Inc., a leading producer of mobile electronics accessories including the popular invisibleSHIELDTM, recently announced a significant increase in business generated through their mall cart program. The program brings ZAGG’s product lines to major mall locations throughout the United States.
The mall cart division of ZAGG was founded in 2006 with the first location in the Fashion Place Mall in Salt Lake City, Utah. By the end of 2008, the program had grown to a total of 37 carts in 13 States. In 2009, the division expects to expand to 80 carts, and has secured 12 locations for 49 total by the end of the first quarter. Most of the carts are independently owned and operated by customers who became interested in the invisibleSHIELD.
American Green Group, Inc. (Pink Sheets: AMNE) was a SmallCapVoice.com top performer moving up over 23% on trading volume of 49,554,206 shares.
American Green Group, Inc. announced recently that it has decided to move forward with a 5 for 1 forward stock split instead of creating a Preferred Dividend.
The record date shall be June 1, 2009. All shareholders of record as of that date will be entitled to the forward split. The Company will work closely with its counsel, the transfer agent and DTC to make sure the split goes off without a hitch.
The Company would also like to go on record as saying that current management has no plans of doing a reverse split in the future as they see that counterproductive to the forward split. The Company will use funds generated from sales of Paradigm to announce future stock buy-backs.
Today’s SmallCapVoice.com Hot Stock to Watch:
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE)
Green Star Alternative Energy, Inc. recently announced discussions with Gamesa — one of the world’s preeminent wind turbine manufacturers. The Green Star/Notos JV is negotiating with Gamesa on cooperation for the development of prospective wind power facilities.
Gamesa is one of the main wind turbine manufacturers worldwide and a leader in design and development. The company has installed more than 16,000 MW of its main product line in 20 countries spread out over 4 continents. However, manufacturing is only a part of its corporate mandate — the Gamesa Business Unit has the mission of developing and building wind farms. This vertically integrated organization provides Green Star with a significant collaborative effort to advance the Company’s expansion plans.
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