Austin, TX 2/6/2009 1:16:18 AM
News / Business

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

Stocks move higher as retailers report better-than-expected January sales

Wall Street shook off weak economic readings and placed bets on retailers Thursday after their monthly sales reports weren't as bad as had been expected.

 

Retailers including Wal-Mart Stores Inc. and Macy's Inc. turned in better-than-expected sales for January. Wal-Mart's sales beat Wall Street's forecast after the chain drew shoppers focused on necessities like groceries. Macy's, which this week said it would slash 7,000 jobs, on Thursday raised its fourth-quarter and full-year forecasts after reporting its sales.

 

The reports still showed dismal numbers overall, but investors had grown so fearful about falling sales that the retailers' stocks had been badly beaten down. Their reports helped the market overcome a flurry of unwelcome news.

 

Yesterday’s Top Performing SmallCapVoice.com stock:

 

Omega Commercial Finance Corporation (OTC BB: OCFN) was yesterday’s SmallCapVoice.com top performer moving up over 26% on trading volume of 81,960 shares.

 

Omega Commercial Finance Corporation announced that its current balance sheet reflects an increase of $8,434,845 in assets due to its previously announced acquisition of its luxury casino cruise ship the "Omega Royale." This increase encompasses the partial allocation of substantiated assets from its cruise ship onto its balance sheet.

 

Based upon the current amount of shares outstanding the Company estimates a current shareholder book value of 30 cents per share.

A full version of the press release can be viewed at:

http://finance.yahoo.com/news/Omega-Commercial-Finance-prnews-14233476.html

 

Today’s SmallCapVoice.com Stock to Watch:

 

Atlantic Energy Solutions, Inc. (Pink Sheets: AESO) is today’s hot stock to watch.

 

Atlantic Energy Solutions, Inc. announcing that a Southern New York State School District has received state approval to begin its contracted energy efficiency project with the company. The project is now underway, and Atlantic Energy will complete it in record time. With more than a decade of experience "greening" commercial buildings, including schools, school campuses, and municipalities; Atlantic Energy has compiled an impressive green platform in the energy industry.

 

A full version of the press release can be viewed at:

http://finance.yahoo.com/news/Another-New-York-State-School-iw-14250247.html

 

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