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 Modestly Higher Amid Mixed Earnings and Economic Data
Wall Street rose modestly Thursday as investors looked past a disappointing profit report from Exxon Mobil Corp. and focused on economic data that was slightly more upbeat than expected. On the equity front, Cigna missed profit projections, while CVS Caremark, Starbucks, and Comcast all matched forecasts. In other economic news, personal income missed estimates but spending was better than expected. Treasuries have pared early losses and are flat as traders digest a slew of data. Overseas, stocks are mixed in thin holiday-muted trading.
Economic data remains heavy
Personal Income rose 0.3% in March, below of the Bloomberg estimate of 0.4%, but personal spending increased 0.4%, topping forecasts.
The core PCE Price Index, a broad measure of inflation that the Federal Reserve closely follows, rose 0.2%, just above the 0.1% estimate. Year-over-year, the core rate moved higher from 2.0% to 2.1%, which sits above the top end of the Fed's implied comfort zone of 1-2%.
Weekly initial jobless claims rose 35,000 to 380,000, above the Bloomberg estimate of 365,000. The four-week moving average fell 6,500 to 363,750, and continuing claims gained 74,000 to 3,019,000. The unexpectedly large drop in last week's claims was revised higher by 3,000 claims to 345,000. Treasuries pared early losses and are near the unchanged mark.
Wednesday’s Top Performing SmallCapVoice.com stocks:
Mundus Group Inc. (Pink Sheets: MNDS) was a SmallCapVoice.com top performer for 4/31/08 closing up over 80% on trading volume of 44,000 shares.
Today’s Hot Stocks to Watch:
Sunovia Energy Technologies Inc. (OTC BB: KBLB) is today’s SmallCapVoice.com’s hot stock to watch.
Sunovia Energy Technologies, Inc. announcedthat it has completed its mezzanine round of financing. The company has currently raised a total of $12 million, and continues to allocate proceeds to the development of the scalable CdTe-based solar cell manufacturing facility and sales of the EvoLucia(TM) LED-based solid-state lighting solutions.
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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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