Ryan Vlastelica, Reuters
Earnings boost Wall Street; Apple, Netflix curb Nasdaq
(Reuters) – Stocks rose on Tuesday after strong earnings from big manufacturers and AT&T, but gains were capped on Nasdaq ahead of results from Apple and after a downbeat forecast from Netflix.
AT&T Inc, 3M Co and United Technologies Corp, all Dow components, rallied after profits topped estimates, continuing the trend of strong results this season.
“These results serve as a reminder that while near-term volatility is all but certain, the strength of corporate America remains intact, and valuations remain attractive,” said Mark Martiak, senior wealth strategist at Premier/First Allied Securities in New York.
Yesterday’s Top Performing Small Cap Stock:
Plandaí Biotechnology Inc. (OTCBB: PLPL)
Plandaí Biotechnology Inc. was a SmallCapVoice top performer closing up over 5% on trading volume of 55,600 shares.
Plandaí Biotechnology, Inc., through its recent acquisition of Global Energy Solutions, Ltd. and its subsidiaries, focuses on the farming of whole fruits, vegetables and live plant material and the production of proprietary functional foods and botanical extracts for the health and wellness industry. Its principle holdings consist of land, farms and infrastructure in South Africa.
Since 2002, GES successfully conducted documented research producing extracts from a variety of live plant materials.
Today’s SmallCapVoice.com Hot Stock to Watch:
Medical Marijuana Inc. (Pink Sheets: MJNA)
Medical Marijuana Inc (OTC: MJNA) Announces Its Wholly Owned Subsidiary Wellness Managed Services Signs An Additional Management Contract Increasing Annual Revenue By $1,700,000, Quarter Over Quarter Revenue Increase On Pace To Maintain 100% Compounded Quarterly
SAN DIEGO, April 24, 2012 /PRNewswire/ — Medical Marijuana Inc (OTC: MJNA) is pleased to announce its wholly owned subsidiary Wellness Managed Services has signed an additional management contract which is expected to increase annual revenue by $1,700,000. The company’s 4th quarter revenue increased in excess of 100% over the prior quarter from $198,812.60 to $430,139.36. Since new management has been in place at the close of the first quarter 2011, to the close of the fourth quarter 2011, company revenue had increased an accumulative 3941%, and quarter over quarter since the first quarter 2011 have had a compounded quarterly increase of 101%.
Chuck Mikolajczak, Reuters
Wall Street jumps on solid corporate earnings
(Reuters) – Stocks rose on Friday, putting the S&P 500 on pace for its biggest gain in the past five weeks, after earnings from a slew of bellwether companies propelled what has been a solid earnings season to date.
McDonald’s Corp (MCD) climbed 2.3 percent to $97.47 and was the top boost to the Dow after the world’s No. 1 fast-food chain reported higher quarterly profit, paced by strong U.S. sales.
Microsoft Corp (MSFT) advanced 5.5 percent, its biggest percentage gain in three months, to $32.70 after profit beat expectations late Thursday as personal computer sales held up better than expected.
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Yesterday’s Top Performing Small Cap Stock:
BeesFree Inc. (OTCBB: BEES)
BeesFree Inc. was a SmallCapVoice top performer closing up over 3% on trading volume of 12,355 shares.
Chuck Mikolajczak, Reuters
Wall Street edges higher, biotechs lift Nasdaq
(Reuters) – Stocks rose slightly in a choppy session on Thursday as investors grappled with euro zone uncertainty, a raft of corporate earnings and economic data that painted a mixed picture of the domestic recovery.
Spain’s successful debt auction and solid earnings from Bank of America and Morgan Stanley led to early optimism, but that quickly dissipated as speculation swirled that France’s sovereign debt rating could be downgraded. A senior French source told Reuters the rumors were unfounded.
Citi analysts said in a note it is likely Moody’s will place France’s Aaa rating on review for possible downgrade by the autumn. France lost its ‘AAA’ rating earlier in the year and ongoing budget crises have kept worries about the region near the front burner for investors.
Yesterday’s Top Performing Small Cap Stock:
Medical Marijuana Inc. (Pink Sheets: MJNA)
Medical Marijuana Inc. was a SmallCapVoice top performer closing up over 4% on trading volume of 642,941 shares.
Edward Krudy, Reuters
Wall Street eases on IBM, Intel; Chesapeake slumps
(Reuters) – Stocks were lower on Wednesday after uninspiring earnings from IBM and Intel, while Chesapeake Energy slumped after a Reuters report highlighted large and unusual personal loans taken by its chief executive.
International Business Machines Corp and Intel Corp were the biggest drags on the Dow. IBM missed its revenue forecast, while investors said Intel’s results failed to make a “bull case” for the stock.
The lackluster reports from the two technology heavyweights came at the start of what has been a strong earnings season. The S&P 500 had its best day in a month on Tuesday as Coca-Cola Co led the day’s round of solid earnings and as concerns eased over the euro zone debt crisis.
Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville, Tennessee, expects the market to continue its back-and-forth, possibly trending lower in the second quarter after strong gains earlier in the year.
Yesterday’s Top Performing Small Cap Stock:
Marley Coffee (OTCBB: JAMN)
Marley Coffee was a SmallCapVoice top performer closing up over 1% on trading volume of 191,275 shares.
Edward Krudy, Reuters
Wall Street rises on earnings, Spain debt auction
(Reuters) – Stocks rose on Tuesday as investors welcomed a slew of corporate results and as a decline in borrowing costs for Spain eased concerns about Europe’s debt crisis.
“Expectations were fairly low coming into first-quarter earnings season, and so far, the news has been surprisingly good,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
“We are accumulating some evidence that one, earnings are matching or exceeding expectations, and two, even in light of what’s going on in Europe and the trepidation with regard to global growth, companies are able to continue to respond positively in terms of profitability.”
Yesterday’s Top Performing Small Cap Stock:
BeesFree Inc. (OTCBB: BEES)
BeesFree Inc. was a SmallCapVoice top performer closing up over 4% on trading volume of 7,775 shares.
Lucia Mutikani, Reuters
Retail sales strength eases growth worries
(Reuters) – Retail sales showed unexpected vigor in March as Americans shrugged off high gasoline prices and bought a range of goods, suggesting economic growth in the first quarter was probably not as weak as many had feared.
Retail sales increased 0.8 percent, the Commerce Department said on Monday, after rising 1.0 percent in February.
Last month’s gains, which surpassed economists’ expectations for only a 0.3 percent rise, could prompt analysts to raise their forecasts for first-quarter consumer spending, the main driver of the economy.
Yesterday’s Top Performing Small Cap Stock:
PositiveID Corporation (OTCBB: PSID)
PositiveID Corporation was a SmallCapVoice top performer closing up over 12% on trading volume of 811,591 shares.
PositiveID Corporation’s iglucose Mobile Health Solution Makes Significant Progress With Active Customer Deployments
iglucose Mobile Health Solution for Diabetes Management Undergoing Trials With Leading Health Insurer, Consumer Healthcare Products Company and International Telecom Provider