Austin, TX 11/7/2009 12:05:00 AM
News / Business

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

Stocks rise on GE upgrade despite weak employment data

U.S. stocks rose on Friday as investors took heart after the government said monthly payroll losses slowed, even as unemployment rose above 10 percent.

 

General Electric Co shares jumped more than 5 percent after a brokerage upgrade, and helped lead the industrial sector higher.

 

The market had opened lower after data showed the unemployment rate topped the psychologically key 10 percent level and reached the highest point since April 1983.

 

U.S. employers cut 190,000 jobs in October and unemployment hit its highest level since 1983. Despite the disturbing headline unemployment number, payroll losses continued to decline, which some investors saw as a mild positive as the hourly work week remained static.

 

The Dow Jones industrial average was up 17.84 points, or 0.18 percent, at 10,023.80. The Standard & Poor's 500 Index rose 2.30 points, or 0.22 percent, at 1,068.93. The Nasdaq Composite Index increased 7.87 points, or 0.37 percent, at 2,113.19.

 

Yesterday’s Top Performing Small Cap stock:

 

Pure Earth, Inc. (OTC BB: PREA) was a SmallCapVoice.com top performer yesterday closing up over 66% on trading volume 37,500 of shares.

 

Pure Earth, Inc., today announced that it has been awarded a large environmental project involving the construction of a new basketball arena for the New Jersey NETS basketball team in Brooklyn, New York. The estimated project value is $14 million and should be completed by late 2010. The project is slated to begin in late 2009. Pure Earth was able to secure this project as a result of its strategically located network of treatment and recycling facilities that can treat and beneficially reuse the contaminated soils that will be removed from the site. Pure Earth has previously worked with the engineering firm and general contractor to perform projects of this size in the past, and was selected because of its superior service and emphasis on recycling in an economically attractive manner.

 

TIE Technologies, Inc.  (Pink Sheets: TTCS) was another SmallCapVoice.com top performer yesterday closing up over 22% on trading volume 9,958of shares.

 

TIE Technologies, Inc. announced its participation in the Intelligent Flood Protection Monitoring, Warning and Response System (IFPRMWRS) DNR RSIQ No. 2503-09-21 project awarded by the State of Louisiana to Geocomp and their 'I-Levee Team' associates.

 

TIE Technologies, as a named sub contractor under Geocomp in the I-Levee Team, will be leading the smart communications portion of the project. Designing and developing a 'smart' communications system, which is independent, reliable and redundant is a critical component of insuring that the data from the sensor networks on the Mississippi Levee provide actionable intelligence to the entire Emergency Responder team.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

Wind Works Power Corp. (OTC BB: WWPW)

 

Wind Works Power Corp. announced that they have signed an agreement to increase their equity interest from 50% to 100% in Settlers Landing Wind Park. The agreement calls for the issuance of 300,000 restricted common shares of Wind Works stock, and the payment in cash of $450,000, the latter subject to milestones.

 

As part of the acquisition of Zero Emission People, announced October 27, 2009, Wind Works acquired a 50% interest in Settlers Landing, a 10 megawatt wind energy project located near Pontypool, in Ontario, Canada.

 

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