Stocks have resumed their climb after Alcoa kicked off earnings season with an unexpected profit and the government reported a drop in initial claims for jobless benefits.
Several big retailers, meanwhile, are reporting better sales for September than the market had anticipated.
Aluminum company Alcoa Inc. surprised investors after the market closed Wednesday with its first profit in nine months, which the company attributed to cost-cutting and rising sales to automakers. Alcoa also said it expects worldwide aluminum demand to increase 11 percent in the second half of the year.
Traditionally the first major company to report earnings, Alcoa's better-than-expected report and upbeat demand prediction reassured investors.
A better reading on the troubled labor market also stoked investors' optimism about the economy. The Labor Department reported that new claims for jobless benefits fell to 521,000 last week, down from 554,000 the previous week and better than analysts had expected. It was the lowest level since early January. Continuing claims fell to 6.04 million, better than the slight increase analysts had expected.
The stock market's early gains were held in check, however, by a mixed report on business inventories. The Commerce Department said wholesale inventories fell 1.3 percent in August, worse than the 1 percent drop economists had expected. In an encouraging sign, sales jumped by the largest amount in 14 months.
In early trading, the Dow Jones industrial average rose 36.65, or 0.4 percent, to 9,762.23. The Standard & Poor's 500 index rose 3.60, or 0.3 percent, to 1,061.18, while the Nasdaq composite index rose 7.51, or 0.4 percent, to 2,117.84.
Yesterday’s Top Performing Small Cap stock:
Viper Networks, Inc. (Pink Sheets: VPER) was a SmallCapVoice.com top performer yesterday closing up over 20% on trading volume of 5,587,104 shares.
Viper Networks, Inc., a telecommunication network operations and technical management company, announces that it has moved its North American headquarters to a larger facility in Troy, Michigan, within the Greater Detroit Metro area. This strategic relocation will not only facilitate the recent and forthcoming increase in key personnel and the expansion of Viper Networks' operational divisions, but will serve to accommodate the rapid growth the company has secured through their recently awarded India telecom license and current deployment for a redundant network between the U.S., Europe and India.
Biomedical Technology Solutions Holdings, Inc. (OTCBB: BMTL) was a SmallCapVoice.com top performer yesterday closing up over 28% on trading volume of 274,060 shares.
Biomedical Technology Solutions Holdings, Inc announced an agreement with Med Pro Associates of Colorado to serve as a non-exclusive independent sales and marketing representative to solicit sales, obtain orders and provide sales and marketing support for the company's Demolizer II within the U.S.
Med Pro Associates, based in Idaho Springs, Colorado, is one of the nation's largest independent representation firms specializing in the healthcare industry. They represent leading manufacturers in a sales support role through all distribution channels and market into the hospital, long term care and dental markets. The Med Pro team of highly qualified, professional field sales representatives provides national coverage and specializes in both medical equipment and disposable devices.
Today’s SmallCapVoice.com Hot Stock to Watch:
Muscle Flex Inc. (Pink Sheets: MFLI)
Muscle Flex Inc. announced today that it is developing a strong portfolio of "Water" related products to market using its direct response, online ecommerce and traditional retail methods. Muscle Flex regards "Water" as potentially the most important ingredient in maintaining a healthy lifestyle and it is estimated that as much as 75% of Americans do not drink enough good clean water. Water consumption is one of Danny Alex's, the CEO and Founder of Muscle Flex Inc., 30 fitness rules to living a better and healthier lifestyle. Muscle Flex is developing a several water related products and will be included as one of Muscle Flex's main product categories.
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