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 Slightly Lower Amid Mixed Economic Data and Earnings Reports
Stocks are slightly lower after a mixed batch of economic data and earnings news. Nonfarm productivity rose more than forecast in 1Q, easing concerns about inflation, but pending home sales dropped. The market is dealing with record crude prices and conflicting earnings reports from Disney, which topped profit forecasts, and Cisco Systems, which alluded to economic headwinds.
Preliminary data showed that nonfarm productivity increased at an annual rate of 2.2% in 1Q, ahead of the Bloomberg estimate of a 1.5% rise. Output was up just 0.4%, but hours worked fell 1.8%, the third straight quarterly decline, as businesses appear to be quickly reacting to the economic slowdown.
Pending home sales fell 1.0% in March, matching forecasts, but February was revised from a 1.9% drop to a decline of 2.8%.
The Dow Jones industrial average fell 30.04, or 0.23 percent, to 12,990.79.
Broader stock indicators were mixed. The Standard & Poor's 500 index fell 4.19, or 0.30 percent, to 1,414.07, and the Nasdaq composite index rose 4.33, or 0.17 percent, to 2,487.64.
In morning trading Wednesday, gold prices fell, while the dollar rebounded against other major global currencies.
Bond prices edged lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.93 percent from 3.92 percent late Tuesday.
Tuesday’s Top Performing SmallCapVoice.com stocks:
Sunovia Energy Technologies Inc. (OTC BB: SUNV) was a SmallCapVoice.com top performer for 5/6/08 closing up over 11% on trading volume of 546,852 shares.
Mundus Group Inc. (Pink Sheets: MNDS) was another SmallCapVoice.com top performer for 5/6/08 closing up over 146% on trading volume of 77,350 shares.
Today’s Hot Stocks to Watch:
All-American Coffee & Beverage, Inc. (Pink Sheets: ACBV) is today’s SmallCapVoice.com’s hot stock to watch.
All-American Coffee & Beverage, Inc. announced it will be the exclusive supplier of Coffee products and dessert beverages at the 1812 Shootout in Sackets Harbor NY. The 1812 Shootout is one of the country's largest outdoor scholastic Lacrosse tournaments in the United States. ACBV will also be selling proprietary apparel at the event through their manufacturing subsidiary Jon Connie Enterprises. The event features over 150 teams, including open men and open women's tournaments.
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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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