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 Lower Amid Weak Personal Income Data and Rising Oil
Stocks are lower after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. A disappointing profit report from computer maker Dell Inc. is weighing on technology stocks. Oil prices rose as investors charted the path of Tropical Storm Gustav as it heads toward the
In midmorning trading, the Dow Jones industrial average fell 80.85, or 0.71 percent, to 11,632.44.
Broader stock indicators also fell. The Standard & Poor's 500 index fell 9.15, or 0.70 percent, to 1,291.53. The technology-heavy Nasdaq composite index fell 31.69, or 1.31 percent, to 2,379.95.
Bond prices fell Friday. The 10-year note's yield, which moves opposite its price, rose to 3.81 percent from 3.79 percent late Thursday.
The dollar was mixed against other major currencies, while gold prices rose.
Light, sweet crude rose $2.41 to $118 per barrel on the New York Mercantile Exchange.
Thursday’s Top Performing SmallCapVoice.com stocks:
Today’s SmallCapVoice.com Hot Stock to Watch:
Seven Arts Pictures plc (OTC BB: SAPXF) is today’s hot stock to watch.
Seven Arts Pictures plc announced on Tuesday the repayment in full of $1,505,000 of debt to Too Easy Entertainment LLC. Funding for the repayment came from financing and distribution of films, as well as from film library revenues. No money was raised, no shares were sold, and no additional debt was incurred, to complete the repayment. The repayment was completed prior to June 30th in the 2008 fiscal year.
Michael Garstin, President of Seven Arts, commented, “Our growth last year improved cash flow and profits substantially and we have taken the opportunity to pay down debt and improve our balance sheet. The balance sheet improvement gives us a very strong start to the 2009 fiscal year.”
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