Austin, TX 11/4/2009 12:44:20 AM
News / Business

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

Stocks are lower as economic worries persist and traders draw little comfort from Buffett deal

Investors worried about the economic recovery drew only modest comfort from billionaire investor Warren Buffett's decision to buy one of the nation's largest railroads.

 

Buffett's Berkshire Hathaway said Tuesday it is paying $100 a share for Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion.

 

Investors are on edge about unemployment and the stability of major financial firms in Europe.

 

A rise in factory orders wasn't enough to boost sentiment. The Commerce Department said orders to U.S. factories rebounded in September after dropping in August. Orders rose 0.9 percent in September amid increases in orders for autos, heavy machinery and military aircraft rose. Analysts had expected an increase of 0.8 percent, according to Thomson Reuters.

 

Investors around the globe have been uneasy in recent weeks, wary about whether the economic recovery can maintain the same pace once government stimulus measures are removed. That uncertainty has led to wild swings in the market. The Dow Jones industrial average has risen or fallen more than 100 points in six of the last eight trading days, the most volatility since March.

 

The Dow fell 43.38, or 0.4 percent, to 9,746.06. The broader Standard & Poor's 500 index fell 3.23, or 0.3 percent, to 1,039.65. The Nasdaq composite index fell 10.13, or 0.5 percent, to 2,039.07.

 

Yesterday’s Top Performing Small Cap stock:

 

Adventure Energy, Inc. (OTC BB: ADVE) was a SmallCapVoice.com top performer yesterday closing up over 42% on trading volume of 29,250 shares.

 

Adventure Energy, Inc., an energy exploration company with operations in the Appalachian Basin, announced that it has executed a joint venture with Lear Oil to rework four Knox wells in Lincoln County, Kentucky.

 

Under the agreement, the Company will be assigned a 65% working interest in each of the four previously drilled wells once they are placed back into production. In addition, Adventure is granted the right to drill five new wells on the leasehold. Each of the four wells produced on average 2-3 BOD prior to being shut-in.

 

"This is a significant opportunity for our Company as it opens the door for further exploration and development in an area with historically high production," said Wayne Anderson, President of Adventure Energy, Inc. "It is our intention to commence operations on this project during the month of November, with production and revenue generation seen shortly thereafter."

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

Lucas Energy, Inc. (AMEX: LEI)

 

A New Audio Interview with William A. Sawyer, President and CEO of Lucas Energy, is Now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/11-2-09-audio-interview-with-lucas-energy-inc-nyse-amex-lei/.

 

Lucas Energy, Inc. (NYSE Amex:LEI) is a Houston, Texas based independent oil and gas company that identifies, evaluates and acquires leasehold property interests, primarily in the Austin Chalk formation of the middle Gulf Coast of Texas, that are underperforming or have been shut-in or plugged and abandoned. These properties are then revitalized by undertaking extensive re-entry and work-over procedures, including clean-up, repairs and treatments of the existing well bores and lateral extensions, as well as drilling new laterals into previously non-producing areas of the formation. By utilizing tight field and operating management controls, together with having a comprehensive understanding of the production characteristics of the Austin Chalk, the Company believes that it can increase reserves, improve production and maximize cash flow while avoiding most of the high risks of typical exploration projects.

 

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.

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