As the market is making new highs, some analysts predict that the S&P 500 is due for a pullback at 1200 range. Whether this is true or not the market seems to be in an uptrend with Dow Jones rising above 12,100 and NASDAQ reaching 2800. The fact that some companies are even increasing their dividends and the inflow of mergers and acquisitions by midsized companies goes to show that the recovery is starting to pick up speed.
Following are some of the stocks that are making headlines today that are considered microcap, so without further ado let's dive right in. Ampal American (NASDAQ: AMPL) recently announced that it has been advised by the East Mediterranean gas, in which the company has a 12.6% interest, was not damaged by the recent explosion of a gas metering station in Egypt. Because of this the supply gas to EMG, and therefore to EMG's immediate Israeli clients has been interrupted by a fire in a facility not related to EMG. Reuters stated that the gas supply to the EMG should resume operations within a week.
To our surprise the stock has been rallying 5.45% at Monday's open with a 21,085 shares volume which is fairly moderate compared to the three month average volume of 27,223. The stock has been trading in the last 52 weeks between $1.39 up to three dollars even. I would definitely keep an eye out on this stock especially within the next week to see if there is gas supply operations resume within the given time table.
Ampal-American Israel Corporation (Ampal) primarily acquires interests in businesses located in the State of Israel or that are Israel-related. The Company's investment focus is principally on companies or ventures where Ampal can exercise significant influence, on its own or with investment partners, and can use its management experience to enhance those investments. It focuses to invest in undervalued assets with an emphasis in sectors, such as: Energy, Chemicals, Telecommunications, Real Estate, Project Development and Leisure Time.
Our next company is Crystallex (AMEX:KRY) that recently it received a letter from the corporation Venezolana de Guayana then stated that the company's mine operating contract for the loss of Christina's project in Bolivar state Venezuela, has been unilaterally terminated by the CVG. The letter also enclosed a copy of a resolution passed by the CVG on February 3, 2011 which also stated that the MOC is unilaterally terminated.
Investors and traders of course have viewed this news as a pessimistic outcome as the shares of the stock KRY has tumbled 37% at the market open with an astounding volume of 10.6 million shares. The stock has already been in a downtrend for the past seven months as a 52-week range and zigzag around $.13 up to $.77
Crystallex international Corporation normally engages in the development of gold properties in Venezuela. It has principally owned interest in the last Christina's gold project that is located in Sifontes Municipality in Bolivar State Venezuela. the company was founded back in 1984 and is headquartered in Toronto Canada.
EpiCept (NASDAQ: EPCT) has been under a tremendous pressure to keep it stuck price per share above one dollar in the last few months. it today announced positive results coming from the phase 2B trial evaluating the efficacy and safety of the attic NP1chemo that chemo therapy induced peripheral neuropathy. The results of the trial with the intent to treat population demonstrated that the change in average daily new Europe passing intensity scores in the and P1 group has achieved a statistically significant reduction in CPN intensity versus placebo which was the trial's primary endpoint in addition the prespecified subgroup of the ITT population those patients who previously received tax saying chemotherapy also have shown a statistically significant reduction in average daily Europe passing intensity scores this subgroup constitute more than 50% of the ITT population.
Because of this stocks have rallied almost 16% of the market open with a volume of three times the average at 666,000 hundred and 24 shares traded so far. Another $.13 and the company can meet NASDAQ's minimum requirements to sustain its listing on the exchange. For the past two weeks the company has traded between $.33 and $2.45 a share.
EpiCept Corp. normally focuses on the development and commercialization of pharmaceutical products for the treatment of cancer and pain in the United States and Germany one of its main products that has had quite a success is the Ceplene, which was used for the treatment of acute myeloid leukemia.
Another company that is in play today is Inovio Pharmaceuticals (AMEX: INO). the company has gone up 1.55% of the market opens with a volume of 243,887 shares traded by midday. It recently announced that its new generation DNA vaccine delivery technology, which provides the powerful enabling capabilities of LA troll proration without contacting the skin. implementing this new technology can also provide other desirable benefits. By eliminating the insertion of needles used in the conventional electroporation process and reducing the electrical pulsing 2 ns makes this contact contactless device even more tolerable than current electroporation devices.
This companyhas a market capitalization of $135.5 million and has been trading between $.76 and $1.56 in the past 52-week range and has a target of one year estimate of $2.96. The company does not pay dividends at this time.
The company is engaged in the discovery development and delivery of DNA vaccines with a focus on cancers and other infectious diseases. It's the Syncon technology enables the design of DNA-based vaccines are capable of providing cross protection against unmatched strains of pathogens such as influenza.
Almaden Minerals (AMEX: AAU) today announced that to drill explorations and definition programs are now underway at the company's wholly owned Ixtaca gold and silver project located in Puebla state, Mexico. The company's goals for the year 2011 at Almaden is to outline the potential of the Ixtaca zone by a minimum CAD to million drill program. In addition the company states that the drilling in 2011 is designed to explore the size potential of the Ixtaca Zone.
Almaden Minerals Limited, is considered to be an exploration stage company that engages in the acquisition exploration and development of mineral properties in Canada as well as the United States and Mexico. It holds interests in the elk gold and silver property compromising the Siwash gold deposits in Canada and the Caballo Blanco gold in Mexico.
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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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