Wall Street remains lower after Philly Fed
Stocks remained lower on Thursday after a regional Federal Reserve survey, a snapshot of business conditions in the U.S. mid-Atlantic region, was below expectations. (Source: Reuters)
Oil prices eased off six-month highs Thursday after rallying the day before to above $62 a barrel on a bigger-than-expected fall in U.S. crude inventories.
Benchmark crude for July delivery was down $1.16 to $60.88 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange.
In London, Brent prices fell $1 to $59.59 a barrel on the ICE Futures exchange.
Oil has surged about 75 percent since March on signs the global economy, while still struggling through a severe slowdown, may have avoided a worst-case scenario.
On Wednesday, the July contract rose $1.94 to settle at $62.04 after the government said U.S. crude inventories fell for a second week, suggesting demand may be improving.
Crude stockpiles dropped by 2.1 million barrels for the week ended May 15, according to Energy Department’s Energy Information Administration. Gasoline inventories dropped by 4.3 million barrels. (Source: Associated Press)
Yesterday’s Top Performing SmallCapVoice.com stock:
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) was a SmallCapVoice.com top performer moving up over 19% to close $2.50.
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.
Today’s SmallCapVoice.com Hot Stocks to Watch:
ZAGG, Inc. (OTC BB: ZAGG) is a SmallCapVoice.com hot stock to watch moving up over 4% (.18) on trading volume of 194,942 shares yesterday and releasing strong new pre market.
ZAGG’s invisibleSHIELD Now Available at London Drugs
ZAGG Inc. (OTCBB: ZAGG), a leading producer of mobile electronics accessories, announces their popular invisibleSHIELD is now available in all London Drugs stores across Canada. London Drugs is a privately held retail chain with nearly 70 locations, and carries a wide range of electronics, health products, and consumer goods.
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.
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