Stocks are lower after lower-than-expected GDP rise and Goldman probe
U.S. stocks fell on Friday as shares of Goldman Sachs tumbled on reports of a federal probe into the Wall Street powerhouse and after first-quarter gross domestic product came in weaker than expected.
The S&P financial index lost 1.3 percent, with Goldman down 7.6 percent to $148.12. A federal investigation raised the possibility of criminal charges less than two weeks after Goldman was accused of civil fraud. Bank of America-Merrill Lynch downgraded the stock to neutral.
A multibillion-euro aid package for debt-laden Greece will be hammered out within days and could keep a sovereign debt crisis from spreading, a top European Commission official said. Fears over a debt default have weighed on equities in recent weeks.
Gross domestic product expanded at a 3.2 percent rate in the quarter, the Commerce Department said in its first estimate, below the 3.4 percent forecast of analysts.
In morning trading the Dow Jones industrial average was down 44.89 points, or 0.40 percent, at 11,122.43. The Standard & Poor’s 500 Index was down 8.42 points, or 0.70 percent, at 1,198.36. The Nasdaq Composite Index was down 17.61 points, or 0.70 percent, at 2,494.31.
Yesterday’s Top Performing Small Cap Stock:
VitaminSpice (OTCBB: VTMS)
VitaminSpice was a SmallCapVoice.com top performer yesterday closing up over 12% on trading volume of 254,704 shares.
VitaminSpice is uniquely positioned between the $100 billion health food/vitamin supplement industry and the multi-trillion-dollar traditional food industry. A pioneer in the emerging foodceutical industry, VitaminSpice sells vitamin-, mineral- and antioxidant-infused spices and food products. Their offerings include Crushed Red Pepper, Ground Black Pepper, Sea Salt, Italian Seasoning, Ground Cinnamon and Granulated Garlic. A proprietary micro-encapsulation process keeps vitamin properties locked inside, even when heated, allowing the food products to retain their full flavor.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company, Inc. (OTCBB: TOOT)
Tootie Pie Company adds over 50 new revenue generating restaurant customers to its growing footprint in the Midwest and Southeast regions
Tootie Pie Comp nay Inc. has landed 43 new restaurant customers throughout Oklahoma as a result of a successful food show sponsored by Ben E Keith Foodservice in Oklahoma City. Ben E. Keith Foodservice has been a distributor of food service products and Anheuser-Busch products since 1906.
Other Small Cap News
Generex Biotechnology Corporation (Nasdaq: GNBT)
Generex Receives New US Patent for Its Proprietary Buccal Drug Delivery Platform Technologies
Patent Covers Method for Administration of Insulin to the Buccal Region
WORCESTER, Mass., April 29, 2010 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that it has received a new patent in the United States.
Dune Energy (NYSE Amex: DNE)
Dune Energy, Inc. Announces Property Sale and 2010 Drilling Plans
Dune Energy (NYSE Amex: DNE) announced it has reached an agreement in principle to sell its interests in the South Florence field for $30 million to a private party. As of December 31, 2009, Dune’s interest in this field corresponded to 11.9 Bcfe of proved reserves based on an independent reserve report. Production from the field has averaged approximately 3.8 Mmcfe/day during the first quarter of 2010.
Akeena Solar, Inc. (Nasdaq: AKNS)
Akeena Solar Announces First Quarter 2010 Results
"Total revenue was $6.5 million with a gross profit margin of 23%. We continued to see strong bookings momentum throughout the quarter and increased our backlog to $11.4 million at quarter-end. As compared to year-end, backlog increased $2.0 million, and was more than double the $4.8 million backlog at the end of the first quarter of 2009," said Gary Effren, president of Akeena Solar.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE)
Eagle Bulk Shipping Inc. Takes Delivery of Gannet Bulker
34th Vessel Joins the Fleet With $19 Million in Minimum Contracted Revenue
NEW YORK, April 29, 2010 (GLOBE NEWSWIRE) — Eagle Bulk Shipping Inc. (Nasdaq:EGLE) today announced that it has taken delivery of the Gannet Bulker, a 58,000 dwt Supramax dry bulk vessel. The charter also includes profit sharing over $20,000 per day. In aggregate, the Gannet Bulker will contribute approximately $19 million in minimum contracted revenue.
Hansen Medical, Inc. (Nasdaq: HNSN)
Studies Show Increased Safety and Substantial Reduction in Harmful Radiation to Patient With Sensei Robotic System
One Study Reports 63% Less Radiation Dose and 44% Less Fluoroscopy Time
Hansen Medical, Inc. (NASDAQ:HNSN) announced compelling results from three independent clinical studies showing that use of the Sensei(R) system in procedures for atrial fibrillation (AF) and other abnormal heart rhythms reduced patients’ exposure to harmful cancer causing radiation by 63 percent, and provided stable, precise catheter control with equivalent safety to non-robotic (manual) procedures. The studies were designed to compare use of the Sensei system in patients with AF to manual technique in terms of success, complication rates, procedure time, and radiation exposure to patient and physician.
VAALCO Energy, Inc. (NYSE: EGY)
VAALCO Energy Provides Update on Gabon Drilling Program
HOUSTON, April 29 /PRNewswire-FirstCall/ — VAALCO Energy, Inc. (NYSE:EGY) today announced it is finalizing the completion of the Ebouri 4H development well located in the Ebouri Field, offshore Gabon, West Africa. Initial production from the new well should commence within a week.
Graphic Packaging International, Inc. (NYSE: GPK)
Graphic Packaging Increases Prices on SUS(R) Paperboard
MARIETTA, Ga., April 29 /PRNewswire-FirstCall/ — Graphic Packaging International, Inc. (GPI), a subsidiary of Graphic Packaging Holding Company (NYSE:GPK), recently announced a price increase of its solid unbleached sulfate (SUS(R)) paperboard, effective with shipments on or after May 31, 2010. The price of GPI’s coated folding carton grades Pearl-Kote(R) and Omni-Kote(R) will increase by $40 per ton. Aqua-Kote(R), GPI’s carrier grade, will increase by $45 per ton.
GenCorp Inc. (NYSE: GY)
Aerojet and Florida Turbine Technologies Join in Strategic Partnership to Develop NASA’s New Rocket Engines
SACRAMENTO, Calif. and JUPITER, Fla., April 29 /PRNewswire-FirstCall/ — Aerojet, a GenCorp (NYSE:GY) company, and Florida Turbine Technologies (FTT) announced today that the companies have entered into a strategic partnership to compete for research, development and production on NASA’s new hydrocarbon engine and advanced upper stage engine. This expands the very successful teamwork that Aerojet and FTT have underway on the U.S. Air Force Hydrocarbon Boost Technology Demonstrator (HBTD) and Upper Stage Engine Technology (USET) programs.
Canadian Superior Energy Inc. (NYSE Amex: SNG)
Canadian Superior Commits to Rig for Drilling Offshore Tunisia
CALGARY, ALBERTA–(Marketwire – 04/30/10) – Canadian Superior Energy Inc. ("Canadian Superior" or the "Company") (TSX:SNG)(AMEX:SNG) announces today that it has signed an Assignment and Transfer Agreement with BG Tunisia Limited and ENSCO Offshore International Company related to the ENSCO 105 drilling rig. The ENSCO 105 is a ‘jackup’ rig (independent leg cantilever) built in 2002 and rated for water depths up to 375 feet and drilling depths down to 30,000 feet. This rig has been in the Mediterranean for the last few years on contract with BG. It is anticipated that Canadian Superior will take operational possession of the rig sometime in the 4th quarter of 2010 for the drilling of the Zarat North appraisal well on the 7th of November Block, offshore Tunisia / Libya.
VCG Holding Corp. (Nasdaq: VCGH)
VCG Holding Corp. Board of Directors Dissolves Special Committee and Authorizes $1 Million Share Repurchase Plan
LAKEWOOD, Colo., April 30, 2010 (GLOBE NEWSWIRE) — VCG Holding Corp. (Nasdaq:VCGH) ("VCG" or "the Company"), a growing and leading consolidator and operator of adult nightclubs, today announced that its Board of Directors has dissolved the Special Committee of directors that was formed in order to evaluate the previously announced proposal made by Troy Lowrie, VCG’s Chairman and Chief Executive Officer, Lowrie Management, LLLP, an entity controlled by Mr. Lowrie, and certain other investors (collectively, "Lowrie"), to acquire all of the outstanding common stock of the Company for $2.10 per share in cash. As previously announced, the Special Committee informed Lowrie that it determined, with input from its advisors, that the terms of Lowrie’s proposal were inadequate.
About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client’s financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
Contact:
Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com
SmallCapVoice Daily Highlights 