Austin, TX 2/28/2009 12:25:25 AM
News / Business

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

Stocks move sharply lower on Citigroup deal and weak GDP report

Wall Street mover sharply lower on news of Citigroup Inc.'s plans to turn over a big piece of itself to the government and as the economy shrank at a much faster pace than expected at the end of last year.

 

Investors dumped bank stocks after Citigroup agreed to a deal in which the U.S. government and private investors including the government of Singapore and Saudi Arabian Prince Alwaleed Bin Talal that will convert their preferred stock in the struggling bank to common shares. The plan won't require additional money from the U.S. government, which holds an 8 percent stake in Citigroup and would own up to 36 percent.

 

Wall Street had been hoping that stabilizing Citigroup will help ease worries about the beaten-down bank stocks and remove some of their questions about the prospects for the industry.

 

Word that the economy, as measured by the gross domestic product, fell at a 6.2 percent annual pace in fourth quarter is adding to investors' worries.

 

In the first half-hour of trading, the Dow Jones industrial average fell 132.29, or 1.8 percent, to 7,049.79. The blue chips neared the 7,000 mark, a level they haven't traded below since October 1997.

 

Broader stock indicators also fell. The Standard & Poor's 500 index tumbled 16.05, or 2.1 percent, to 736.78. The S&P 500 index breached its Nov. 21 trading low of 741.02, which came during the height of the credit crisis. Investors had hoped would mark the bottom of the market's fall from October 2007.

 

Yesterday’s Top Performing SmallCapVoice.com stock:

 

Access Beverage, Inc. (Pink Sheets: ABVI) was a SmallCapVoice.com top performer moving up over 12% on trading volume of 261,664 shares.

 

SmallCapVoice.com, Inc. announced that a new audio interview featuring, Access Beverage, Inc. is now available at SmallCapVoice.com. The interview can be heard here at http://smallcapvoice.com/blog/2-24-09-audio-interview-with-access-beverage-inc-otcpk-abvi/. For a complete investor fact sheet on Access Beverage visit http://www.smallcapvoice.com/abvi/factsheet.html.

 

Founded in 2003, Access Beverage Inc. engages in the manufacturing, marketing, and sale of wine and spirit brands, in the United States with future brands planned for launch in China, Canada and Russia. Flagship brands include: Le Snoot™, Mardi Gras™ and Bees Knees™ wines, and Simply RAW Vodka™. The Company distributes its products through wholesale distributors, as well as alcoholic beverage control agencies in the United States.

 

Access Beverage also offers private label wine & spirit programs that are fully turnkey. They assist with all aspects of the brand-creation process, including packaging/label design, regulatory (federal and state), freight and delivery (all states and overseas), all price points, imported and domestic, wine & sprits varietals and blends. Access Beverage plans to expand its distribution channels into global markets through various retail establishments, including liquor stores, chain stores, and restaurants. Access Beverage continually seeks to capitalize on its marketing infrastructure by developing new lines of wine and premium liquor products that it can sell to its developing and existing customer base. The Company is continually reinvesting into its business by increasing operating capacity through the acquisition of additional inventories.

 

Today’s SmallCapVoice.com Hot Stocks to Watch:

 

Solargy Systems Inc. (Pink Sheets: SLGS)

 

Solargy Systems Inc. is pleased to announce that they have received a signed letter of intent from Barron Properties to develop and install a solar farm utility site for the production of electricity via Solargy's branded solar panels. The site will be located in Wellington and the energy produced shall be sold pursuant to a power purchase agreement to Florida Power and Light for the term of no less than twenty years. The solar farm will consist of approximately 14,000 solar panels on the property and the interconnection of the solar units to the FP&L grid. The signed letter of intent for the solar panel installation is for $15,000,000.This project is in addition to a previously announced solar farm project in Chiefland, Florida.

 

"We are excited to move forward with our business plan and to expand our operations here in the United States. With the search for alternative energy sources and implementation of green technology in such high demand, we are pleased to begin showing Solargy's technology and cost saving benefits," stated C.E.O. (MD) Carl Nurse.

 

"Since we have refocused on the alternative energy industry, we have been aggressively pursuing contracts for projects whilst simultaneously looking for factory space to manufacture panels and the capital to start manufacturing. We have identified a building here in Miami and we have also identified a funding source who is interested in participating in the $100,000,000 manufacturing operation, subject to certain conditions," Mr. Nurse stated.

 

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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