Stocks turn positive after a report showing a surge in new home sales.
The Commerce Department says new home sales rose 9.6 percent in July -- the fourth straight monthly increase.
The report follows better-than-expected data on factory orders. The Commerce Department said orders for goods expected to last at least three years rose 4.9 percent in July -- the biggest jump in two years and more than the 3 percent increase economists had expected.
Despite the generally improving economic data, the market remains cautious. After a five-month run-up in stocks, with little break, investors are unsure how much further the market can go without seeing actual economic growth.
The Dow Jones industrials are up 20 at 9,559, after being down as much as 45 points prior to the home sales data. The Standard & Poor's 500 index is up less than a point at 1,029, and the Nasdaq composite index is up 5 at 2,029.
Yesterday’s Top Performing Small Cap stock:
TIE Technologies, Inc. (Pink Sheets: TTCS) was a SmallCapVoice.com top performer closing up 155% on trading volume of 2,000 shares.
A New Audio Interview Featuring TIE Technologies, Inc. Executive Vice President, Graham Mew, is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/8-25-09-audio-interview-with-tie-technologies-inc-otcpk-ttcs.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions for user's needs and challenges within the dynamic global voice, video and data communications markets. The company offers managed IT and telecommunication services to solve a myriad of complex client requirements. Services and solutions include out sourced and internal server, applications hosting, managed hosting and related systems management services, database hosting, content delivery networks, data broadcasting networks, and voice and video solutions providers. TIE Technologies (TIE) is traded on the Pink Sheets under the symbol "TTCS".
Today’s SmallCapVoice.com Hot Stock to Watch:
HearAtLast Holdings, Inc. (Pink Sheets: HRAL)
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 through the addition of Louis Isabella; CFO; and the Evans Martin group, the Company has identified several significant cost cutting measures.
The new direction of HearAtLast Holdings, Inc. sees dramatic reductions in operating costs across the board. Restructuring at the corporate level will enable HearAtLast to successfully reduce management monthly expenses by approximately $240,000 without diminishing the team or duties of management.
With the new revenue and community outreach model developed by Robert J. Oswald and Pierre LaFontaine now in place, the clinic operating expenses have also been reduced by $20,000-$30,000 per clinic or upwards of $500,000 annually moving forward. "These resources can now be channeled into marketing and brand awareness, let alone the bottom line," states Louis Isabella; CFO. "We as a company and management team have simply assumed more responsibility at all levels of the operation, thus creating a break-even point and profitability well ahead of previous forecasts thus increasing shareholder value."
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