Austin, TX 10/12/2009 10:00:23 PM
News / Business

Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com

Stocks move higher as earnings season gets underway this week

Major market indicators rose moderately early Monday, getting a boost from European stocks, which jumped after Royal Philips Electronics issued a better-than-expected profit report. A weaker dollar drove oil and other commodities higher, giving energy, material and industrial stocks a lift.

 

Trading on Monday is expected to be fairly light as much of the country observes the Columbus Day holiday. No major economic reports are scheduled and government bond markets are closed.

 

A flurry of earnings reports, including ones from the nation's largest banks, will occupy the market's attention the rest of this week. JPMorgan Chase & Co. reports on Wednesday, followed by Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp. A number of major technology firms, including Intel Corp., Google Inc. and International Business Machines, will also report results this week.

 

At banks, investors are hoping to see signs that consumer loan defaults, including mortgages, are starting to level off, and will be looking for any potential trouble with commercial real estate loans. Overall, the market wants to see evidence that an economic recovery is under way.

 

Earnings season got off to a good start last week when aluminum maker Alcoa Inc. reported a surprise profit. That helped lift the Dow Jones industrial average to its highest level in a year, giving the index a 4 percent gain for the week, its best weekly performance since July. The Dow now stands less than 100 points away from the 10,000 mark, a level it has not seen since October 2008.

 

In early trading, the Dow rose 47.38, or 0.5 percent, to 9,912.32. The Standard & Poor's 500 index gained 3.57, or 0.3 percent, to 1,075.06, while the Nasdaq composite index rose 11.35, or 0.5 percent, to 2,150.63.

 

Yesterday’s Top Performing Small Cap stock:

 

EcoBlu Products, Inc. (OTC BB: ECOB) was a SmallCapVoice.com top performer yesterday closing up over 8% on trading volume of 79,500 shares.

 

EcoBlu Products, Inc. is a manufacturer of proprietary wood products coated with an eco-friendly chemistry that protects against mold, rot, decay, termites and value added fire. EcoBlu products utilizing BLUWOOD(TM) technology is the ultimate in wood protection, preservation, and fire safety to building components constructed of wood; from I-joists, beams and paneling, to floors and ceilings.

 

The Company is committed to the development, marketing and sales of environmentally-responsible building materials. EcoBlu products are ready to deliver the winning edge to builders and the environment with its sustainable green product line.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

TIE Technologies, Inc. (Pink Sheets: 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 applications hosting, managed hosting, complex event systems management services, content delivery networks, data broadcasting networks, and voice and video solutions.

 

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