Investors are sending stocks higher in early trading, reassured by Alcoa Inc.'s earnings and some good news on the labor front.
The market appears to be shrugging off weakness in June retail sales reports. The nation's retailers reported generally poor sales during June
Alcoa's $454 million second-quarter loss was smaller than expected, and markets around the world rose on hopes the aluminum maker is signaling that the worst of the recession is over.
The market also got some good news from the Labor Department, which said the number of initial jobless claims fell last week to their lowest level since early January. The number of first-time jobless claims fell by 52,000 to a seasonally adjusted 565,000, the lowest level since early January. That's significantly below analysts' expectations of 605,000, but the drop was largely due to changes in the timing of auto industry layoffs. Auto layoffs that normally take place in early July, as factories are retooled to build the next year's models, happened in the spring as General Motors Corp. and Chrysler LLC implemented sweeping restructuring plans.
The Dow Jones industrial average is up 4 to 8,183. The Standard & Poor's 500 index is up 3 to 882, while the Nasdaq composite index is up 5 to 1,752.
Yesterday’s Top Performing Small Cap stock:
HearAtLast Holdings, Inc. (Pink Sheets: HRAL) was a SmallCapVoice.com top performer closing up over 4% on trading volume of 224,918 shares.
HearAtLast Holdings, Inc. is a Nevada corporation that owns and operates its wholly-owned subsidiary of hearing stores co-located within select Wal-Mart stores throughout Canada. Their chain of hearing stores specializes in the sale of digital hearing aids and testing services. The Company is the affordable hearing solution for Canadians, combining the most sought after retail space in North America with convenience and location. HearAtLast provides State of the Art Hearing Testing and Dispensing services to individuals with all types of measurable hearing loss.
HearAtLast facilities sell a selection of high quality brand name hearing aids and also offer complimentary screening tests, clinical hearing tests, high end ear buds and assistive listening devices. The Company's mission is to consolidate the highly fragmented hearing services industry while providing unparalleled service to the estimated 30+ million hearing impaired individuals throughout North America. After a prescription is approved, the independent on-site audiologists and hearing aid practitioners at HearAtLast utilize a refined process to dispense the latest in Name Brand digital hearing aids.
Today’s SmallCapVoice.com Hot Stock to Watch:
TIE Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies, Inc. announced their new ACUMEN(tm) architecture, designed to provide integrated system solutions for application within critical infrastructure environments.
Since the events of September 11th and Hurricane Katrina, solutions have been developed and examined in order to prevent a similar event. These systems have tried to improve information sharing between security forces and overcome jurisdictional complexities. The need to involve day to day operations and the impact of natural disasters also must be factored into these solutions. The current technologies, processes, doctrine and organizational structure fails to provide the self-synchronized operations, distributive collaborative planning, and situational management and execution that are required.
ACUMEN(tm) has been designed in order to meet and exceed the current need for smart systems, providing a solution that can process complex inputs, that can correlate, analyze and understand the information in order to accurately execute and inform accordingly based on the evolving event information (including unstructured data gathered from sources of any nature).
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