Stocks were mixed in early trading Friday as investors held back from making big moves after a five-day rally.
Many traders are still expecting a pullback in the market after the extended period of gains, but some upbeat corporate news was drawing in more buyers.
FedEx, whose delivery business is often seen as an indicator for the health of the economy, raised its first-quarter earnings forecast because of stronger international shipments and cost-cuts. Strong reports out of China on industrial output, investment, loans and retail sales are also encouraging investors to put more money in stocks.
With stocks at an 11-month high, however, some analysts are concerned the market is overheated. The Dow Jones industrial average has gained 347 points in five days.
Gold prices again rose above $1,010 to its highest level since February.
The Dow Jones industrial average rose 4.99, or 0.1 percent, to 9,632.47. The broader Standard & Poor's 500 index rose 1.84, or 0.2 percent, to 1,045.98, and the Nasdaq composite index rose 0.62, or less than 0.1 percent, to 2,084.64.
Bond prices rose after spiking Thursday following strong demand at a government debt auction. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.34 percent from 3.35 percent late Thursday.
The dollar fell against other major currencies, pushing the price of oil higher. Light, sweet crude rose 56 cents to $72.50 a barrel on the New York Mercantile Exchange.
Yesterday’s Top Performing Small Cap stock:
GWS Technologies, Inc. (OTC BB: GWSC) was a SmallCapVoice.com top performer yesterday closing up over 3% on trading volume of 65,207 shares.
GWS Technologies, Inc., an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, today commented on the September 2, 2009 ruling by the Maricopa County Superior Court affirming that the Arizona Corporation Commission has the authority to set renewable energy standards and allow utilities to collect tariffs to meet them.
“This ruling is widely seen as a big win for Arizona’s solar industry and will provide incentives to promote more renewable energy developments in the state,” said GWS President Richard Reincke. Mr. Reincke cited media reports that a “modern-day land rush is under way in the deserts of Arizona and the Southwest” as public utilities and speculators vie for vast tracts of public and private land on which to build solar-power plants. He also cited a report by the National Renewable Energy Laboratory that Arizona has some of the richest solar land in the country, with much of the prime land for solar use situated along the Interstate 10 corridor between Buckeye and the California state line. GWS Technologies is currently developing plans for solar farms in Arizona and a combined solar and wind farm in Lubbock, Texas.
U.S. Geothermal Inc., (AMEX: HTM) was a SmallCapVoice.com top performer yesterday closing up over 5% on trading volume of 331,353 shares.
U.S. Geothermal is a renewable energy development company that is operating geothermal power plants at Raft River, Idaho and at the San Emidio Desert in Nevada. The Neal Hot Springs project in eastern Oregon is being developed and is expected to be operational in 2011. The San Emidio project is currently under development to replace the existing old power plant with a new efficient plant. U.S. Geothermal holds, through ownership or lease, geothermal rights of lands that comprise the Raft River project in Idaho, San Emidio, Granite Ranch, and Gerlach in Nevada, and the Neal Hot Springs project in Oregon.
Today’s SmallCapVoice.com Hot Stock to Watch:
Cobra Oil & Gas Company (OTC BB: CGCA)
Cobra Oil & Gas Co. is a publicly traded independent oil and gas exploration and production company headquartered in Houston, Texas. Cobra is currently finalizing the purchase of 40% contract interest on 23 Federal Leases covering 33,632 acres within the P.R. Spring deposit in Uintah County, Utah. Adjacent to the Utah Oils Sands prospect Cobra also acquired a 37.5% working interest covering 640 acres, along with a 62.5% working interest on 640 additional acres.
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
