Investors are taking a wary view of the latest batch of corporate earnings reports following a weeklong winning streak.
Stocks traded mixed early Wednesday following a batch of uneven corporate results. Chip maker Advanced Micro Devices Inc. and Wells Fargo & Co. fell after reporting disappointing results but Apple Inc. and Starbucks Inc. advanced after posting better-than-expected numbers.
Strong corporate results for the April-June quarter propelled major stock indicators more than 8 percent over the past seven days. Analysts have been warning that some pullback was likely.
Investors got some disappointing reports on Wednesday from Morgan Stanley and Whirpool Corp. Morgan Stanley said it lost a bigger-than-expected $1.2 billion during the second quarter as it took a charge to repay government bailout money. The investment bank's was also hurt for a second straight quarter by an accounting adjustment related to the rising value of its own debt.
In the first hour of trading, the Dow Jones industrial average fell 7.86, or 0.1 percent, to 8,908.08. The broader Standard & Poor's 500 index fell 2.77, or 0.3 percent, to 951.81, and the Nasdaq composite index rose 0.81, or less than 0.1 percent, to 1,917.01.
Yesterday’s Top Performing Small Cap stock:
HearAtLast Holdings, Inc. (Pink Sheets: HRAL) was a SmallCapVoice.com top performer closing up over 31% on trading volume of 706,898 shares.
HearAtLast Holdings, Inc., a leading provider of suitable affordable solutions to clients with hearing needs in the billion dollar hearing loss market, announced today that the grand opening of the Dufferin Mall Wal-Mart location on June 16, 2009 has shown immediate signs of success in one of Toronto's oldest multicultural communities. With an established empty-nester base to draw from, the research and demographic studies used to select new clinics in Canada is proving to be quite successful, stated Robert Oswald of HearAtLast Holdings, Inc.
With a high concentration of laborers and retirees, the percentage of noise-induced patients is significant and many benefit from Canada's world leading health care system and workman's compensation programs. Noise induced hearing loss is recognized as the number one disability facing the North America workforce claims the World Health Organization at a cost of over 60 billion dollars annually. Even after many years of OSHA-regulated efforts to conserve hearing, and despite the ready availability of hearing protection devices (HPDs), rates of noise-induced hearing loss continue to rise. A recent National Health Interview Survey showed hearing problems among individuals age 45 to 64 up 26 percent over the past 30 years.
Today’s SmallCapVoice.com Hot Stock to Watch:
American Green Group, Inc. (Pink Sheets: AMNE)
American Green Group, Inc. announced that the Company has received approval from FINRA to proceed with its 5-1 Forward Stock Split.
The record date is July 31, 2009 and the Ex-Dividend Date is August 5, 2009 the shares will be delivered to shareholders without any further action on their part.
AMNE also introduced its new web site at www.americangreengroup.com. The Company was successful in obtaining its original domain name and has been working to integrate all the components of the Company in one site.
Over the course of the next few weeks the Company will continue to update shareholders of the recent progress the Company has made in several areas.
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