Stocks are flat as investors shift their focus to the start of earnings season
Stocks traded in a tight range Friday following a big three-day rally and as investors prepare for the upcoming earnings season.
Traders often avoid making big bets just before earnings releases since they provide a clear picture of how a company is performing. Outlooks for future growth will also be closely scrutinized because disappointing economic reports in recent months have called into question the pace of a recovery.
Investors will want to know if companies are feeling the effects of slower growth and whether corporations believe the rebound will pick back up in the coming months. Stocks consistently fell over the past couple of months because data showed the economy was growing, but not nearly as fast as had been forecast.
Earnings season kicks off with Alcoa Inc. on Monday. Other companies scheduled to release results next week include banking giants JPMorgan Chase & Co. and Bank of America Corp. General Electric Co. and chipmaker Intel Corp. are also scheduled to report earnings next week.
Overseas markets rose Friday. A surprise interest rate hike in South Korea was viewed as a sign of confidence that the global economy will continue expand. Central banks around the world, including the U.S., have kept rates at historically low rates to stimulate growth.
In early morning trading, the Dow Jones industrial average rose 8.18, or 0.1 percent, to 10,146.18. The Standard & Poor’s 500 index rose 0.88, or 0.1 percent, to 1,071.13, while the Nasdaq composite index rose 4.09, or 0.2 percent, to 2,179.49.
Yesterday’s Top Performing Small Cap Stock:
VizStar, Inc. (OTCBB: VIZS)
VizStar, Inc. was a SmallCapVoice.com top performer closing up over 2% on trading volume of 27,850 shares.
VizStar is a premier aviation charter broker focused on delivering a new and unparalleled way to experience private jet travel. The company delivers this unmatched service without monthly membership fees, initiation fees, long-term commitments or capital investment, while delivering typical savings of 20-30% when compared to other charter or fractional companies in the marketplace.
Within as little as four hours’ notice, VizStar can make all the travel arrangements for its client’s next trip. Whether it is a short hop or an intercontinental journey, business or pleasure, each and every detail is attended to according to the client’s specific requirements. With access to nearly 6,000 qualified aircraft, ranging from light, mid, heavy or jumbo jets, Celestial Jets is capable of serving any potential client.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company (OTCBB: TOOT)
Tootie Pie Partners with Kraft Foods
Tootie Pie Company, Inc. (OTCBB:TOOT) announced that it has entered into a partnership with Kraft Foods for the upcoming holiday season. The two companies will co-market Tootie Pie with Kraft’s Cool Whip.
“There is probably no more recognizable, high-quality food brand than Kraft Foods,” said Don Merrill, President & CEO. “We are proud and excited that Kraft recognizes the value of having its Cool Whip product featured alongside Tootie Pie.”
Other Small Cap News
Empire Resorts, Inc. (Nasdaq: NYNY)
Empire Resorts Statement Regarding the St. Regis Mohawk Tribe
MONTICELLO, N.Y.–(BUSINESS WIRE)–Empire Resorts, Inc., (Nasdaq: NYNY) today announced it has received word the St. Regis Mohawk Tribe has decided to end its exclusive discussions with Empire Resorts to build a Class III casino in the Catskills region of New York State.
Tri-Valley Corporation (NYSE Amex: TIV)
Tri-Valley Reports June Oxnard Oil Production and Additional Corporate Developments
June 30 Stockholders’ Equity Rises to Approximately $4.5 Million
BAKERSFIELD, Calif.–(BUSINESS WIRE)–Tri-Valley Corporation (NYSE Amex:TIV) today announced that gross oil production during June from its Pleasant Valley tar sands project in Oxnard, California averaged 305 barrels of oil per day as compared to 333 and 186 barrels of oil per day in May and April, respectively. Production at the Pleasant Valley project continues to advance from extended steam cycles performed in recent months on four of its seven horizontal production wells on the Hunsucker Lease together with artificial lift capacity.
Quantum (Nasdaq: QTWW)
Quantum Awarded Purchase Order by Fisker Automotive for Supply of Q-Drive(TM) Plug-In Hybrid Powertrain Systems for the Fisker Karma Program
IRVINE, Calif., July 8 /PRNewswire-FirstCall/ — Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq:QTWW) announced today that it has received an initial purchase order for supplying Q-Drive™ powertrain systems for the Fisker Karma production program under the terms of its supply agreement. Under this purchase order, Quantum will supply the first production systems this fall to enable the start of volume production, which is expected to commence in February 2011, with a forecasted production volume of 15,000 vehicles per year. Quantum recently signed a Supply Agreement with Fisker Automotive to supply key components and control systems for the Q-Drive powertrain system that is being incorporated into the Fisker Karma.
Fuel Tech, Inc. (Nasdaq: FTEK)
Fuel Tech Awarded Air Pollution Control Orders Totaling $6.4M; Includes Orders from Alliance Agreement
WARRENVILLE, Ill.–(BUSINESS WIRE)–Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced receipt of air pollution control (APC) orders totaling $6.4 million.
Derma Sciences, Inc. (Nasdaq: DSCI)
Derma Sciences Submits 510(k) Application for MEDIHONEY Gel, Reaches Goal of 20-Person U.S. Field Sales Force
PRINCETON, N.J.–(BUSINESS WIRE)–Derma Sciences, Inc. (NASDAQ: DSCI), a medical device and pharmaceutical company focused on advanced wound care, announces the achievement of regulatory and commercial milestones.
Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX)
European Patent Office Grants Patent for the Use of Vigabatrin/CPP-109 for the Prevention of Addiction to Opioids in Pain Management
CORAL GABLES, Fla., July 9, 2010 (GLOBE NEWSWIRE) — Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX) today announced that the European Patent Office (EPO) granted to Brookhaven Science Associates/Brookhaven National Laboratory (Brookhaven) a European patent for the use of vigabatrin for the prevention of addiction to opioids (e.g., oxycodone, hydrocodone) used in pain management. By dampening dopamine release and thus, the euphoria associated with opioids, the opioid/vigabatrin combination may lower or prevent addictive liability without adversely affecting pain relief.
Pansoft Company Limited (Nasdaq: PSOF)
Pansoft Signs Contract With PetroChina for Treasury Management System
JINAN, CHINA–(Marketwire – 07/09/10) – Pansoft Company Limited (NASDAQ:PSOF) (“Pansoft” or the “Company”), a leading ERP software service provider for the oil and gas industry in China, today announced that it has signed a contract to develop and install a treasury management system for PetroChina Company Limited. Development will begin immediately.
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