Austin, TX 7/13/2009 10:05:14 PM
News / Business

Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com

Investors mark time ahead of earnings reports

Investors are waiting for corporate earnings reports to arrive before they push into stocks.

 

Stocks turned lower early Monday as investors awaited earnings reports this week, including key results from banks.

 

Investors have been cautious as they prepare for earnings reports this week. Banks have been among the most hurt companies since the recession began in late 2007 as investment and loan losses piled up.

 

Financial shares got a boost after banking analyst Meredith Whitney said on CNBC that she was upgrading her view on Goldman Sachs Group Inc., which has long been considered the strongest bank amid the economic downturn. She also noted Bank of America Corp., one of the hardest hit by mounting loan losses, could provide value for investors.

 

Goldman Sachs, Bank of America, JPMorgan Chase & Co., and Citigroup Inc. are all scheduled to report second-quarter results this week.

 

The earnings reports will give investors a chance to see whether there was any meaningful economic improvement during the second quarter, and so far expectations are low. Stocks rallied in the spring amid hope of a recovery in late 2009, but the market has struggled since mid-June as more investors began to doubt that assessment.

 

In midmorning trading, the Dow Jones industrial average fell 2.57, or less than 0.1 percent, to 8,143.95. The Standard & Poor's 500 index slipped 1.91, or 0.2 percent, to 877.22, while the Nasdaq composite index fell 16.59, or 0.9 percent, at 1,739.44.

 

Yesterday’s Top Performing Small Cap stock:

 

Alkane, Inc. (Pink Sheets: ALKN) was a SmallCapVoice.com top performer closing up over 11% on trading volume of 93,956 shares.

 

Alkane, Inc. is dedicated to the development and sales of alternative fuels and additives which reduce the cost of operating and maintaining vehicles. Additional benefits of Alkane, Inc.’s product offerings include positive environmental impact through the reduction of harmful emissions and a lessened U.S. dependence on foreign oil due to a decrease in crude oil dependent diesel fuel consumption.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

Green Star Alternative Energy, Inc. (Pink Sheets: GSAE)

 

Green Star Alternative Energy, Inc. is pleased to announce the signing of an agreement between the Green Star/Notos JV and the Municipality of Veliko Gradiste. The arrangement allows Green Star to explore the economic viability of the regional wind resources; and upon evaluation, the right to develop wind power and supply the area with green electricity.

 

The Municipality of Veliko Gradiste is located in northeast Serbia approximately 100 km east of the capital, Belgrade. Its territory encompasses 344 square km on the right bank of the Danube River and left bank of the Pek River. The initial micro location for placement of the Company’s wind sensors has been identified in the settlement of Ram, and the Municipality has allotted 200 hectares of land towards this endeavour.

 

Miodrag Andric, CEO of Green Star Alternative Energy, stated: “The Company will continue to increase its portfolio of wind resources as we execute our strategic plan and secure more development locations.”

 

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