Stocks are lower after Portugal’s debt rating is cut and new home sales fall
Stocks are lower on renewed concerns about European debt problems after a major ratings agency slashed its view on Portugal and weakness in the housing market.
The Commerce Department says sales of new homes fell 2.2 percent last month. Economists forecast an increase of 3.6 percent.
European markets are mostly lower after Fitch Ratings said Portugal’s recovery will be slower than other countries that use the euro, hurting Portugal’s ability to repay its debt. Debt problems in Europe have been one of the few drags on stocks in recent months.
HOUSTON, March 24, 2010 (GLOBE NEWSWIRE) — Newswire.Net, a subsidiary of Extensions, Inc. (Pink Sheets:EXTI), announced today that Jack Canfield, the Co-Author of the Chicken Soup for the Soul series has endorsed Dr. Barkat Charania’s book titled “Confessions of a Bank Director: The Entrepreneurs Guide to Credit, Capital and Cash Flow” as a must read.
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Jeff Black, president of Extensions, Inc. (Pink Sheets:EXTI) called into SmallCapVoice.com to discuss how his company is a technology company creating revenue generating opportunities through the development and monetization of its portfolio companies and technologies including the conversion of social media activity into keyword Search Engine Optimized (SEO) traffic. Their portfolio companies include: Newswire.net, a social network of independent journalist writing and distributing news under a unified Newswire banner; Cancer.im, a social network for cancer patients offering support from the perspective of cancer survivors; Overtise.com a platform allowing businesses the ability of harnessing social media as a Search Engine Optimization tool; and Zeons, a retail fuel distributor focusing on the development of biodiesel.
Stocks are lower as investors worry about Greece’s ability to repay debt and the potential consequences for the global economic recovery
Reaction to the U.S. government’s passage of sweeping health care reform over the weekend will also be closely watched. The reform could have a far-reaching impact ranging from health insurers and drug makers to companies that provide employees with health benefits.
The bill will now be sent to President Barack Obama to be approved in the coming days.
The sweeping reform will create near-universal medical coverage, extending benefits to 32 million uninsured Americans. However, many of the key points of the bill will not go into effect for several years.
HOUSTON, March 22, 2010 (GLOBE NEWSWIRE) — Newswire.Net, a subsidiary of Extensions, Inc. (Pink Sheets:EXTI) announced today that it will launch its channel partnership initiative. Accepted channel partners will be given access to develop local newswire news affiliate stations as well as keyword specific sub newswire.net domains.
“Content is king on the internet and, as we announced last week, now that Google news is indexing our newswire articles, it is only logical that we open up our Newswire brand to allow additional Newswire distribution channels into local and key words regions,” stated Erin Saxton, CEO of Newswire.Net.
HOUSTON, March 22, 2010 (GLOBE NEWSWIRE) — Newswire.net, a subsidiary of Extensions, Inc. (Pink Sheets:EXTI), announced today that it has launched its book publishing initiative (Newswire Publishing) with Morgan James Publishing.
Morgan James Publishing, The Entrepreneurial Publisher, is recognized by NASDAQ as one of the world’s most prestigious businesses and is reported as being the future of publishing. Headquartered in New York, the company is best known for its profitable innovations in book and multimedia publishing. The company focuses on five book categories: Business, Self-Help, Sports, Inspirational and Health. Well known traditionally published authors including Jay Conrad Levinson (Guerrilla Marketing for Writers), Dan Kennedy (Make ‘em Laugh), and Rick Horrow (Beyond the Box Score), have chosen to publish titles with Morgan James because of the company’s innovative way of doing business.