Wall Street extended its decline Wednesday after President Obama released details of his $75 billion mortgage relief plan. Doubts about the stimulus bill and plans to revive the banking sector continued to weigh on investors.
The plan is designed to help stabilize the housing market and reduce foreclosures. Sharp drops in housing prices and sales, coupled with rising foreclosures since the middle of 2007, have been a primary cause of the toughest recession in decades.
The housing plan follows a much worse-than-expected reading on the housing market, as the Commerce Department said construction of homes and apartments dropped by 16.8 percent in January to a record low annual rate. Applications for building permits also dropped to a record low, falling 4.8 percent.
Yesterday’s Top Performing SmallCapVoice.com stocks included:
Omega Commercial Finance Corporation (OTC BB: OCFN) was a SmallCapVoice.com top performer moving up over 15% on trading volume of 48,000 shares.
Omega Commercial Finance Corporation confirmed that it has entered into a Definitive Agreement with BBB Developments Mexico and upon closing will acquire 100% ownership of 3.9 acres of beachfront property located in Puerto Penasco (Rocky Point), Mexico, in a Share Exchange Agreement.
Jon S. Cummings IV, CEO, stated, "We are extremely excited about the opportunities that this latest acquisition offers our core business operations. We are confident that Los Corales will help to substantiate our 2009 business model. This along with the addition of our latest corporate divisions should enable our company to consistently perform this year." He also stated, "We are also very proud that because of this acquisition, we are now estimating today's pro forma book value upon closing it will be at .82 cents a share, on a going forward basis. We expect to continue to bring additional assets and opportunities to light on our shareholders behalf."
Atlantic Energy Solutions, Inc. (OTC BB: AESO) was another SmallCapVoice.com top performer moving up over 11% on trading volume of 22,308 shares.
Atlantic Energy Solutions, Inc. recently announced 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.
Today’s SmallCapVoice.com Hot Stocks to Watch:
EGPI Firecreek, Inc. (OTC BB: EFIR)
SmallCapVoice.com, Inc. announced today that a new audio interview featuring EGPI Firecreek, Inc., a U.S. company currently focused on oil and gas activities for development and production of oil and natural gas is now available at SmallCapVoice.com. The interview can be heard here at http://smallcapvoice.com/blog/2-17-09-audio-interview-with-egpi-firecreek-inc-otcbb-efir/.
Dennis Alexander stated, “We are looking forward to the aggressive acquisition of quality properties throughout 2009 and beyond.”
To get small cap and OTC stock quotes, company news, and much more please visit www.smallcapvoice.com. Don’t forget to sign up for our complimentary newsletter. Our newsletter comes out once a day in the morning and features great small cap stock news, audio interviews, investor fact sheets on quality small cap stocks and more. We will never share your email address and we use Constant Contact, the industry standard for ethical email distribution. This provider makes it just as easy to opt-out as it is to opt in guaranteed!
About SmallCapVoice.com
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.
Contact:
Stuart T. Smith
CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com