SmallCapVoice.com, Inc., a recognized corporate consulting firm known for its ability to help emerging growth companies build a following among retail and institutional investors, provides the following market commentary and small cap stock highlights:
Stocks Are Mixed as AIG News Casts Concerns About the Mortgage Market
American International Group is leading a slide in insurers and financial shares after confirming in a regulatory filing that its auditors found weaknesses in how it values collateralized debt obligations. The disclosure is pulling the broader market lower but strength in techs following a rejection by Yahoo of Microsoft's bid and higher energy issues are limiting losses. Elsewhere, Loews Corp. missed the Street's profit estimate, Motorola and Nortel Networks are reportedly in talks to combine their wireless infrastructure businesses, and Dow Jones & Co. will replace two of its Dow members.
In late morning trade, the Dow fell 40.72, or 0.33 percent, to 12,141.41. Broader stock indicators were mixed. The Standard & Poor's 500 index fell 1.07, or 0.08 percent, to 1,330.22, and the Nasdaq composite index rose 8.05, or 0.35 percent, to 2,312.90.
Bond prices rose Monday. The yield on the benchmark 10-year Treasury note fell to 3.61 percent from 3.65 percent late Friday.
The dollar was mixed against other major currencies, while gold prices rose.
Light, sweet crude oil rose 20 cents to $91.97 per barrel on the New York Mercantile Exchange.
Preservation Sciences, Inc. and EFUL Network, Inc. announced the execution of a definitive agreement to consummate a merger whereby Preservation has agreed to acquire EFN as a wholly owned subsidiary and, in consideration, Preservation has authorized the issuance of one hundred fifty million preferred shares to existing EFN shareholders; which will not be registered under the Securities Act of 1933 or the securities laws of any state. The name of the new company is EFuel EFN Corp. It is now traded under the ticker symbol 'EFUL'.
Joseph Cillo, former president of EFN and the newly appointed chief executive officer of Preservation commented that "this provides for a tremendous opportunity for both Preservation and EFUEL's shareholders to capitalize on a diverse holding of internet communication and commerce sites within a public entity".
EFN was previously a privately held
Today’s Hot Stocks to Watch:
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