More mixed signals on the economy and earnings reports are sending stocks lower in early trading.
Bank of America Corp. and Citigroup Inc. became the latest banks to report big second-quarter profits on Friday, but both showed continued weakness in loan portfolios. General Electric Co. beat earnings forecasts but its revenues came up short. Those reports followed mixed results from tech giants Google Inc. and IBM Corp. late Thursday.
Investors have been keenly focused on earnings reports this week, hoping to find more concrete signs of life in the economy and validation that a huge rally in stocks this spring was justified.
Strong earnings from four of the largest U.S. banks have been encouraging, but there is still evidence that the recession's grip hasn't eased as much as hoped.
The slight dip in stocks comes after four-straight days of gains in the Dow Jones industrials and the Standard & Poor's 500 index. Going in to Friday's session, major market indicators are up about 7 percent for the week. The advance in stocks, however, has been jagged, with modest gains coming after big surges.
In early trading, the Dow fell 16.18, or 0.2 percent, to 8,695. The S&P 500 index fell 3.70, or 0.4 percent, at 937.04, while the Nasdaq composite index slipped 7.25, or 0.4 percent, to 1,877.78.
Yesterday’s Top Performing Small Cap stock:
U.S. Geothermal, Inc. (AMEX: HTM) was a SmallCapVoice.com top performer closing up about 5% on trading volume 279,039 shares.
U.S. Geothermal Inc., a renewable energy company focused on the production of electricity from geothermal energy, owns and operates geothermal power plants at Raft River, Idaho and San Emidio, Nevada, and is developing the Neal Hot Springs project in Oregon.
Today’s SmallCapVoice.com Hot Stock to Watch:
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE)
GWS stands for GreenWindSolar. We are a renewable energy technology company developing and marketing solar and wind-powered renewable energy products and solutions. Our products and solutions are part of the new microgeneration movement that is transforming the way businesses and consumers provide for their energy needs. The company was founded in 2005 and is headquartered in Scottsdale, Arizona.
A New Audio Interview Featuring Richard Reincke of GWS Technologies, Inc., is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/7-13-09-audio-interview-with-gws-technologies-inc-otcbb-gwsc/.
To get small cap and OTC stock quotes, company news, and much more please visit http://www.smallcapvoice.com/. Don’t forget to sign up for our complimentary newsletter. Our newsletter comes out once a day in the morning and features great small cap stock news, audio interviews, investor fact sheets on quality small cap stocks and more. We will never share your email address and we use Constant Contact, the industry standard for ethical email distribution. This provider makes it just as easy to opt-out as it is to opt in guaranteed!
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