Stocks are higher on the heels of a stronger European stock market
Stocks are higher after a rising euro and gains in European stocks signal concerns are easing that the continent’s debt loads will disrupt a global recovery.
Traders are shrugging off a weaker-than-expected earnings report from electronics chain Best Buy Co. Its shares are down 6 percent.
The euro rose to $1.2285 in a sign that investors are more confident that European governments can slash debt without spoiling an economic recovery.
Major European stock indexes reversed early losses and moved higher in afternoon trading.
The Dow Jones industrial average is up 75 at 10,267. The Standard & Poor’s 500 index is up 7 at 1,097, while the Nasdaq composite index is up 14 at 2,258.
Yesterday’s Top Performing Small Cap Stock:
GWS Technologies, Inc. (OTCBB: GWSC)
GWS Technologies, Inc. was a SmallCapVoice.com top performer yesterday closing up over 18% on trading volume of 142,265 shares.
GWS stands for GreenWindSolar. GWS is 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. GWS is also building strategic partnerships with companies that are developing cutting-edge technologies and solutions. By harnessing the power of the wind and the sun, GWS is 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:
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies and Geocomp Announce OilDam(TM) Asset Ownership
NEW YORK, June 14, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets:TTCS), and Geocomp Corporation announce that the OilDam™ technology and the Trademark Application, patent rights and associated assets are owned in equal parts by TIE Technologies and Geocomp, the team leaders of the OilDam™ Emergency Containment Proposal.
WindPower Innovations, Inc. (Pink Sheets: WPNV)
WindPower Innovations, Inc. Acquires Energetic Drives, LLC
Jun. 15, 2010 (Business Wire) — WINDPOWER INNOVATIONS, INC. (PINK SHEETS:WPNV), today announced it has completed the contract to acquire Energetic Drives, LLC as a wholly owned subsidiary of WindPower Innovations, Inc.
In A New Audio Interview at SmallCapVoice.com, John Myers, President of WindPower Innovations, Inc. Provides Details Regarding Recent News
Jun. 15, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview featuring WindPower Innovations, Inc. (Pink Sheets: WPNV) is now available. The interview can be heard at http://smallcapvoice.com/blog/6-14-10-audio-interview-with-windpower-innovations-inc-pink-sheets-wpnv.
Other Small Cap News
MOD-PAC CORP. (Nasdaq: MPAC)
MOD-PAC CORP. Secures New Three-Year Credit Agreement
BUFFALO, N.Y.–(BUSINESS WIRE)–MOD-PAC CORP. (NASDAQ: MPAC) (the “Company”), a manufacturer of custom paper board packaging and provider of personalized print products, announced today that it has completed an agreement for a new $3.0 million, three-year revolving credit facility with Manufacturers and Traders Trust Company. The new facility replaces the Company’s $5.0 million line of credit, which expired in March 2010.
Video Display Corporation (Nasdaq: VIDE)
Aydin Displays Receives Airborne Displays Contract Valued in Excess of $2M
ATLANTA, June 14, 2010 (GLOBE NEWSWIRE) — Video Display Corporation (Nasdaq:VIDE), an internationally recognized leader in design and manufacture of specialty niche market and rugged displays for commercial, industrial and military requirements, announced that its Aydin Displays, Inc. subsidiary has received a contract valued in excess of $2 Million for 24″ Airborne Displays. This award was received from a major OEM supplier of military systems. Shipment under the contract is scheduled to begin in the third quarter of 2010. The expected completion date is prior to the end of the Company’s fiscal year. The receipt of an additional follow on order, comparable in value to the initial $2+ Million, is anticipated within the next 30 to 60 days.
Innovative Solutions & Support, Inc. (Nasdaq: ISSC)
Innovative Solutions & Support, Inc. Receives Orders Totaling over $12 Million During the Third Fiscal Quarter to Date
EXTON, Pa.–(BUSINESS WIRE)–Innovative Solutions & Support, Inc. (NASDAQ:ISSC) announced $12 million of released orders during the current fiscal quarter to date ending June 30, 2010. Orders are for Cockpit Displays and Air Data products in the following market segments: Military – 58%, Commercial Air Transport – 37%, and General Aviation – 5%.
SERVIDYNE, INC. (Nasdaq: SERV)
Servidyne Names New President and Chief Operating Officer, Announces Sale of Investment Property, Declares Quarterly Dividend
ATLANTA–(BUSINESS WIRE)–SERVIDYNE, INC. (Nasdaq: SERV), an energy efficiency and demand response company, today announced that the Board of Directors has elected. M. Todd Jarvis as the Company’s new President and Chief Operating Officer, in addition to his ongoing role as president and chief executive officer of the Company’s Building Performance Efficiency (“BPE”) Segment.
Seanergy Maritime Holdings Corp. (Nasdaq: SHIP)
Seanergy Maritime Holdings Corp. Reports Management Share Purchase
ATHENS, GREECE–(Marketwire – 06/15/10) – Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ:SHIP) (NASDAQ:SHIPW) announced today that on Monday, June 14, 2010, the Company’s Chief Executive Officer, Mr. Dale Ploughman, purchased 50,000 shares of Seanergy’s common stock at a purchase price of $1.2399 per share. The transaction was completed on the open market.
Zanett, Inc. (Nasdaq: ZANE)
Significant Level of Contracts Signed for Zanett Q2-to-Date; $12.6 Million Among 37 Customers; Year-to-Date $29.7 Million Contracts Signed; Healthcare & Public Sector on Target
NEW YORK, June 15 /PRNewswire-FirstCall/ — Zanett, Inc. (Nasdaq:ZANE) announced today that it is very pleased with rate of contracts closed in the period Q2-to-Date 2010. Between the period of April 1, 2010 and the present, over $12.6 million dollars in new business has been closed. This amount of revenue is comprised of 37 different customers, with the largest customer being responsible for a $7.5 million mandate. Year-to-Date, over $29.7 million of new business has been signed. The bulk of this revenue is expected to be realized within the next 12 months.
Cavico Corp. (Nasdaq: CAVO)
Cavico Signs Road Construction Contract at Ban Chat Hydropower Plant
HANOI, VIETNAM–(Marketwire – 06/15/10) – Cavico Corp. (NASDAQ:CAVO), a leading infrastructure development company based in Vietnam, today announced that its majority owned subsidiary, Cavico Mining, has signed a construction contract with Project Management Unit No.1 to construct an access road to avoid flooded roadways on Highway 279 at the Ban Chat Hydropower Plant.
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