The Labor Department said Thursday that new jobless claims fell more than expected to 550,000 last week and total unemployment rolls dropped. Those continuing to receive benefits fell by 159,000 to nearly 6.1 million, the lowest level since early April.
The news is an indication that the labor market is slowly improving.
Meanwhile, Monsanto said it plans to make deeper work force cuts than previously announced. The world's biggest seed maker also warned its 2009 earnings would come in at the low end of its previous forecast.
Investors are cautious after stocks posted four straight days of gains. The Standard & Poor's 500 index is at an 11-month high.
In the early minutes of trading, the Dow Jones industrial average is down 2.11, or less than 0.1 percent, at 9,545.11. The Standard & Poor's 500 index is down 0.61, or less than 0.1 percent, to 1,032.76. But the Nasdaq composite is up 3.52, or 0.17 percent, at 2,063.91.
Yesterday’s Top Performing Small Cap stock:
Mantra Venture Group Ltd. (OTC BB: MVTG) was a SmallCapVoice.com top performer yesterday closing up over 6% on trading volume of 43,650 shares.
Mantra Venture Group Ltd. is pleased to announce that it signed a worldwide exclusive licensing agreement for a Mixed Reactant Fuel Cell (MRFC) technology on September 2nd, 2009. Unlike typical fuel cells that require a Proton Exchange Membrane (PEM) to separate the fuel from the oxidant within the cell, MRFC is based on an innovative technology that mixes the fuel with the oxidant and eliminates the need for the expensive yet fragile membrane. As a result, Mantra anticipates a simplified and much more cost effective manufacturing process upon commercialization.
MRFC was designed by Professor Emeritus Colin Oloman in the Clean Energy Research Center (CERC) at the University of British Columbia, Canada. Under the direction of Prof. Oloman, Mantra's technical staff is currently undertaking feasibility studies on the MRFC technology - using formate as the fuel. This represents a significant opportunity for Mantra, as formate is one of the key products of ERC - the company's carbon recycling technology.
Mantra's goal in signing this agreement is to carry the technology from its present development stages through to commercialization and to establish sub-licensing agreements thereafter. MRFC is currently in the worldwide patent application process.
Today’s SmallCapVoice.com Hot Stock to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
GWS Technologies, Inc. is an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, recently announced that it is working with Wind Pro Energy Systems in Circle, Montana to develop wind solutions throughout the state.
Last month a Harvard study found Montana to be the second windiest state in the nation, second only to Texas. According to state sources, Montana has developed wind energy faster than any other state in the nation over the last four years, with the goal of producing 20% of its electricity through wind energy by 2030. The state’s Energy Promotion and Development Division, created in 2007, is currently assisting and monitoring about 50 industrial wind energy projects of various sizes and stages of development with the potential to supply 4,000 megawatts of energy. New transmission lines are currently in the planning phase that would greatly increase the capacity of utility scale wind power. Globally, wind is the world's fastest-growing source of power generation with an average annual growth of 29% over the last ten years.
New Audio Interview: TIE Technologies, Inc. (Pink Sheets: TTCS)
A New Audio Interview Featuring TIE Technologies, Inc. Executive Vice President, Mark Marangella, is now at SmallCapVoice.com. TIE Technologies, Inc. is a leading developer of advanced communication technologies designed to improve connectivity, productivity, and communication. The interview can be heard at http://smallcapvoice.com/blog/9-9-09-audio-interview-with-tie-technologies -inc-otcpk-ttcs
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