Austin, TX 11/14/2009 12:16:34 AM
News / Business

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

Stocks turn after trade report data

Stocks turned higher a day after a slide as investors weighed a bigger-than-expected increase in the trade deficit and more retail earnings reports.

 

A disappointing report on consumer sentiment briefly sent stocks lower.

 

The Commerce Department said Friday that the trade deficit jumped 18.2 percent in September to $36.5 billion. That was the largest deficit since January and more than the $31.7 billion imbalance economists had expected.

 

The wider deficit was driven by a big rise in imports, led by a jump in oil shipments. That overwhelmed a fifth consecutive increase in exports. Exports are expected to continue to rise as the dollar continues to weaken, which makes U.S. exports less expensive to overseas buyers.

 

The preliminary Reuters/University of Michigan consumer sentiment index for November came in at 66.0, down from 70.6 in October. That made investors nervous that cautious consumers wouldn't step up spending at the holidays.

 

A better-than-expected earnings report from teen clothing retailer Abercrombie & Fitch Co. and an improved outlook from department-store chain J.C. Penney Co. supported the early gains in stock futures.

 

Meanwhile, the dollar resumed to slump against other currencies. The dollar's steady decline since March, due largely to record-low U.S. interest rates, has encouraged investors to move money out of dollars and into higher-yielding assets like stocks and commodities.

 

In midmorning trading, the Dow Jones industrial average rose 39.15, or 0.4 percent, to 10,236.62. The broader Standard & Poor's 500 index rose 2.57, or 0.2 percent, to 1,089.81. The Nasdaq composite index rose 3.72, or 0.2 percent, to 2,152.74.

 

Yesterday’s Top Performing Small Cap stock:

 

PowerVerde, Inc. (OTC BB: PWVI) was a SmallCapVoice.com top performer yesterday closing up over 11% on trading volume 20,900 of shares.

 

PowerVerde, Inc., a leading manufacturer of high performance pressure and gas expansion products, today announced the successful test of its new Organic Rankine Cycle (“ORC”), the PowerVerde 25/50 KW electric power system. The new system, a next generation design, is capable of producing 25 kilowatts of electrical power on any low grade heat (180 degree F). This test was conducted at the company’s facility, Arizona Research and Development, last Wednesday. This renewable energy heat recovery power generation system will operate on any adequate heat source. The system was designed principally for solar, geothermal, biomass, or waste heat, the latter of which can be captured from manufacturing processes or fossil fuel driven motors.

 

Today’s SmallCapVoice.com Hot Stocks to Watch:

 

Vivakor, Inc. (OTC BB: VIVK)

 

Vivakor, Inc. will be the keynote presenting company at the founders' celebration of consumer product specialist, Regeneca International, Inc. (www.regeneca.com). The celebration will be attended by over 200 founders and guests of Regeneca International from across the United States. It will be hosted at the prestigious Balboa Bay Club in Newport Beach, California. Vivakor's Chairman, Matt Nicosia and CFO, Ed Corrente will both be attending the event.

 

Vivakor, Inc announced yesterday that it has completed an exclusive distribution agreement with consumer product specialist, Regeneca International, Inc. (www.regeneca.com) for one of its proprietary, cutting-edge nutraceutical formulations. In conjunction with this agreement was an immediate purchase order from Regeneca for 25,000 units of the product. Both companies hope this agreement initiates a long term relationship for product commercialization. This purchase also represents to another substantial revenue stream for Vivakor’s emerging nutraceutical division. Vivakor CEO Tannin Fuja expressed his enthusiasm for the transaction. “We are very excited for the possibilities of Vivakor’s line of nutraceutical products. Worldwide demand for nutraceutical products is expected to exceed $15 billion and Vivakor plans on being a substantial player in that market.”

 

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