News / Business
The Smallcap Newsletter QualityStocks Report 5/18/07
Welcome to The Daily Stock Report brought to you by Quality Stocks.Net where performance tracked daily.
With the trend as their friend and bears still coming up short trying to fight the tape, the bulls continued to ride a wave of upward momentum that began in mid March. All three major averages closed at session highs, fueled by gains in all 10 economic sectors.
A buying spree among billionaires was the biggest reason behind the Dow logging its 23rd record finish this year.
Citigroup was the index's best performer, surging 3.7% after hedge fund manager Eddie Lampert disclosed an $800 mln stake. As the fourth most influential constituent on the S&P 500, Citigroup's surge also had a noticeable impact on the broader market and helped restore some much needed leadership in the underperforming Financials sector
Johnson & Johnson was another Dow winner following reports that Warren Buffet's Berkshire Hathaway nearly doubled its stake in J&J.
Microsoft was the third Dow component to make headlines due to an increased ownership stake from a high-profile investor. George Soros' Fund Management LLC said it more than doubled its investment in the tech bellwether.
In fact, such strong gains from so many other blue-chip names this year ushered in two separate attempts to lock in gains intraday; but the bears' overbought argument fell on deaf ears and was no match for the underlying bullish momentum that has lifted stocks virtually uncontested for several weeks now.
Separately, investors did sift through some economic data today. Housing starts unexpectedly rose 2.5% in April to 1.528 mln, but building permits, a sign of future construction, plunged 8.9% to a 10-year low. Nonetheless, more proof that housing remains mired in a deep slump wasn't exactly a big surprise.
And now for our Small Cap News… brought to you by Novori Inc. NOVO
Founded in 2004, Novori Inc. NOVO is a publicly traded independent online jewelry retailer with headquarters in
BioForce Nanosciences, Inc. announced today that the company has recorded its highest quarterly revenue in company history. Revenue was $358,755 versus $201,376 in the first quarter of 2006.
The company's Net loss for the first quarter of 2007 was $923,317, as compared with a net loss of $1,252,562 for the first quarter of 2006. The company also announced in March that the sale of the Nano eNabler(TM) molecular printer to
BioForce Nanosciences develops and commercializes nanotech tools and solutions for the life sciences. The company is also involved in the invention, research, and development of patented and patent-pending products.
Osteologix Inc. announced today that Philip J. Young President and Ceo will present the companies new product, which is under development for the treatment of osteoporosis at the Acumen BioFin Rodman & Renshaw 4th Annual Global Healthcare Conference in Monte Carlo, Monaco, on Monday, May 14, 2007.
The company also announced this month that it has completed enrollment in the Strong Study its phase II clinical trial of NB S101, the company's investigational drug for osteoporosis. The study will focus on the enrolled 289 postmenopausal women with low bone mineral density; the primary endpoint in the trial is the change in patients' bone resorption after the completion of the 12 week trial.
Stay tuned to Quality Stocks Daily for the latest news from small cap to large cap, and everything in between by Quality Stocks. Net.
About QualityStocks:
Small Cap Stocks Newsletter QualityStocks is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.
To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
The Quality Stocks Daily Newsletter http://Newsletter.QualityStocks.net
The Quality Stocks Daily Stock Report http://Video.QualityStocks.net
The Quality Stocks Daily Blog http://Blog.QualityStocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
"Please see the disclaimers on the QualityStocks.net website."
