Austin, TX 5/6/2008 9:59:20 PM
News / Business

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

Higher Oil Prices and Financial Worries Pressure Stocks

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:

 

Higher Oil Prices and Financial Worries Pressure Stocks

 

Oil prices are in record territory, above $121 per barrel, and credit woes are putting financials back on the defensive in midmorning action. Fannie Mae posted its third-straight loss and announced measures to boost capital, Merrill Lynch is dealing with a request related to auction-rate securities, and Legg Mason recorded its first loss ever. Problems in the housing market remain following cautious commentary from Louisiana-Pacific and D.R. Horton, while Qwest Communications missed on the bottom line, and McKesson and Anadarko Petroleum topped the Street's profit estimates.

 

In mid-morning trading, the Dow Jones industrial average fell 92.41, or 0.71 percent, to 12,877.13.

Broader stock indicators also dropped. The Standard & Poor's 500 index fell 7.85, or 0.56 percent, to 1,399.64, and the Nasdaq composite index fell 16.28, or 0.66 percent, to 2,447.84.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.81 percent from 3.87 percent late Monday.

 

Gold climbed, while the dollar fell against most other major global currencies.

 

Monday’s Top Performing SmallCapVoice.com stocks:

 

Sunovia Energy Technologies Inc. (OTC BB: SUNV) was a SmallCapVoice.com top performer for 5/5/08 closing up over 3% on trading volume of 1,828,137 shares.

 

Naturally Iowa, Inc. (Pink Sheets: NLIA) was another SmallCapVoice.com top performer for 5/5/08 closing up over 31% on trading volume of 586,300 shares.

 

Today’s Hot Stocks to Watch:

 

Paramount Gold and Silver Corp. (AMEX: PZG) is today’s SmallCapVoice.com’s hot stock to watch.

 

Paramount Gold and Silver Corp. announced assay results from drill hole SM-35 in the San Miguel Vein. Drill hole SM-35 was drilled 50 meters below hole SM-20 in the southern part of 'Clavo 99' to test the depth and lateral extent of that mineralization. SM-35 intersected 1.85 meters of 9.57 g/t Au and 26 g/t Ag. The entire mineralized zone in Hole SM-35 is 17.44 meters wide and averages 1.84 g/t Au and 76 g/t Ag. The assays from SM-35 establish that the high grade mineralization in 'Clavo 99' extends to a depth of at least 250 meters below the surface and that it extends for a 100 meters south along strike at this depth (from hole SM-34). Clavo 99 continues to remain open at depth and along strike.

 

 

 

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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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ssmith@smallcapvoice.com
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