Stocks are modestly higher in early trading Wednesday as investors wait for aluminum maker Alcoa Inc. to provide some guidance about the economy.
Investors worried that the world economy may take longer to emerge from recession than originally hoped are turning their focus this week to companies’ financial results and, more importantly, to what they have to say about business conditions for the rest of the year.
Alcoa kicks off earnings season Wednesday with its second-quarter report, to be released after the market’s close.
“(Their report) gives an indication if we are moving out of the doldrums and potentially into more recovery, or are we potentially falling backward, again,” said Doug Lockwood, chief investment officer at Cornerstone Wealth Management.
Wall Street analysts expect Alcoa to post a quarterly loss of 38 cents per share. In the same period a year earlier, Alcoa earned 66 cents per share on revenue of $7.6 billion.
In early trading, the Dow Jones industrials rose 36.88, or 0.5 percent, to 8,200.48. The Standard & Poor’s 500 index added 4.58, or 0.5 percent, to 885.61 and the Nasdaq composite index rose 11.31, or 0.7 percent, to 1,757.48.
Yesterday’s Top Performing Small Cap stock:
Octus Energy (OTC BB: OCTI) was a SmallCapVoice.com top performer closing up over 85% on trading volume of 12,437 shares.
Octus Energy is a smart energy management company headquartered in Davis, California. Octus develops, markets and sells energy-efficient lighting and cooling solutions that enable public sector and private organizations to significantly reduce their energy expenses. The company delivers solutions through OctusSEP (Smart Energy Platform), a turnkey energy savings and demand response management program targeting a $40 billion annual market in the United States.
Today’s SmallCapVoice.com Hot Stock to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
GWS Technologies, Inc. an alternative energy company developing renewable energy solutions, announced today that it has retained Gus Shouse as its Project Manager for development of the company’s planned solar farms and other alternative energy projects.
“Mr. Shouse brings us incredible knowledge, expertise and experience in project management, design and construction of photovoltaic solar systems, wind turbine installations, and other renewable energy technologies,” said GWS’ President and CEO Richard Reincke. “He has a proven track record for managing large-scale power generation projects, bringing them in on-time and under budget.”
“The Interstate 10 corridor between Buckeye and the California state line has some of the best solar land in the world, and GWS and its partners have projects planned squarely in this prime zone,” Mr. Shouse said, citing new rules that require utilities to generate more power from renewable resources: 15 percent in Arizona by 2025 and 33 percent in California by 2020. “When you factor in state and federal subsidies, and the billions in economic stimulus money earmarked for solar power, I predict GWS has a very bright future.”
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