News that the manufacturing industry has grown for the first time in 18 months is giving the stock market a boost.
The slight gains follow declines in European shares and a modest rebound in Asian markets.
The Institute for Supply Management says its index of manufacturing activity rose to 52.9 in August, up from 48.9 in July and well above the reading of 50.5 analysts had been expecting.
A reading above 50 signifies growth in the industry -- something that hasn't happened since January 2008.
Meanwhile, an index of pending home sales rose in July for the sixth straight month.
Following the reports, the Dow Jones industrials are up 53 at 9,549. The Standard & Poor's 500 index is up 6 at 1,027, while the Nasdaq composite index is up 22 at 2,031.
Yesterday’s Top Performing Small Cap stock:
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) was a SmallCapVoice.com top performer closing up over 13% on trading volume of 160,448 shares.
A New Audio Interview with Mike Andric, CEO of Green Star Alternative Energy, Inc., is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/8-26-09-audio-interview-with-green-star-alternative-energy-inc-otcpk-gsae/
Today’s SmallCapVoice.com Hot Stock to Watch:
Premier Power Renewable Energy, Inc. (OTC BB: PPRW)
Premier Power Renewable Energy, a global leader in the development, design, engineering and construction of solar power systems for commercial, government and utility markets in the U.S. and Europe, today announced that it has completed installation of a solar system for Barsotti Juice Company.
The project utilized dual axis trackers, which have a life span of 30 to 40 years, to reduce Barsotti’s annual electricity bill by at least 50%. Utilizing Premier Power’s expertise in the design, engineering and construction of commercial and utility scale solar systems the overall production of the system to date has surpassed estimated production by 10%.
Other SmallCapVoice.com Stocks in the Spotlight
TIE Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies, Inc. today announces the acquisition of Point B Telematics, Inc., the Seattle, Washington-based fleet management and asset tracking software company and operator of WIMFleet.
Point B Telematic's WIMFleet product allows customers to easily utilize their fleet's travel and location "data," by creating secure online useful reports that leverage good decision-making processes. Point B Telematics will continue to operate as a unique part of the TIE Technologies Telecommunications division, integrating additional TIE products and services to provide greater security and efficiency for customers.
Point B is a key telecommunications acquisition for TIE, bringing customer proven solutions into the TIE portfolio of assets and an exciting product ready for delivery.
According to industry watcher, Juniper Research, "the market for Wireless-enabled Machine to Machine (M2M) applications is now entering a new growth phase with revenues set to grow from $20bn in 2006 to over $44bn by 2009 and $74bn by 2011. According to Juniper Research, automated meter reading (AMR) associated revenues are expected to quadruple to $40.8 billion by 2011." Point B Telematics offers a variety of M2M and AMR solutions, allowing fleet tracking and automating monitoring and collection of energy (gas) consumption data for the purposes of real-time billing and consumption analysis.
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