Wall Street fell Tuesday as investors lost some of their optimism about the government’s latest bank bailout plan. The Dow Jones industrial average fell 100 points as financial stocks led the market lower.
Wall Street’s focus remained on the plan announced by Treasury Secretary Timothy Geithner. The move could mobilize well over $1 trillion in public and private support to get the frozen credit markets functioning again. It includes a government-private sector partnership to help remove banks’ soured assets from their books.
If a total of $100 billion from the bailout fund was used, it would be enough to support an additional $1 trillion in lending support through a Federal Reserve program that was announced in November but has yet to begin operations.
Investors also awaited a Senate vote on a massive economic stimulus package. The $838 billion stimulus bill was expected to win approval after clearing a critical procedural hurdle Monday.
Yesterday’s Top Performing SmallCapVoice.com stock:
ZAGG Inc. (OTC BB: ZZAG) was yesterday’s SmallCapVoice.com top performer moving up over 9% on trading volume of 223,600 shares.
ZAGG Inc. is the market leader of protective coverings and accessories for consumer electronics. In 2008, ZAGG exceeded expectations by more than tripling their revenue numbers and showing strong profitability. ZAGG feels they will continue this growth trend of at least doubling their numbers in 2009.
Precision Petroleum Corporation (OTC BB: PPTO) was another SmallCapVoice.com top performer moving up over 12% on trading volume of 44,284 shares.
Precision Petroleum Corporation has consummated an agreement with Nitro Petroleum Incorporated as of January 28, 2009 pursuant to its letter of intent for the exploration of oil and gas properties in the Northeastern Province of the Powder River Basin project. Precision Petroleum Corporation is very encouraged with the execution of this agreement due to the relative unexplored nature of the properties with the possible upside potential of finding new oil reserves along with the opportunity to produce coal bed methane from shallow horizons in the area contracted.
Today’s SmallCapVoice.com Hot Stock to Watch:
Who’s Your Daddy, Inc. (OTC BB: WYDI) is today’s hot stock to watch.
Who’s Your Daddy, Inc. today announced that it has signed a marketing and representation agreement with Leigh Steinberg Sports & Entertainment (LSSE), as well as filing a Form 8-K with the Securities and Exchange Commission (SEC) disclosing the terms of the Steinberg representation deal.
The Agreement, which has a term of 12 months, provides that LSSE will provide marketing, public relations and merchandising services to Who’s Your Daddy Inc.
“We are honored to be represented by the biggest name and most talented sports agent in history,” said Who’s Your Daddy chairman and CEO Michael Dunn. “Not only is Mr. Steinberg a proven leader, he is a visionary who is leading the charge in driving the sports and entertainment industries to become more environmentally conscious through his new initiative, The Sporting Green Alliance.”
Who’s Your Daddy, Inc. Signs Marketing and Representation Agreement with Leigh Steinberg Sports & Entertainment - Files 8-K with Securities and Exchange Commission
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