Wall Street is moderately lower after an unexpected drop in retail sales in March tested a notion that the economy is starting to find its footing.
The worries over the retail sales data also overshadowed better-than-expected profit reports from Johnson & Johnson and Goldman Sachs Group Inc.
Financial stocks showed some of the steepest losses even after Goldman's results came in well ahead of what analysts had been expecting. Other financial companies are due to report quarterly results this week.
Federal Reserve Chairman Ben Bernanke's assertion Tuesday there have been "tentative signs" of easing in the recession appeared to contain selling pressure after a five-week surge in the stock market.
In the early going, the focus was on the Commerce Department's report that retail sales fell 1.1 percent in March, the biggest drop in three months. Analysts polled by Thomson Reuters had expected an increase of 0.3 percent.
Yesterday’s Top Performing SmallCapVoice.com stocks:
GreenChek Technology, Inc. (OTC BB: GCHK) was a SmallCapVoice.com top performer moving up over 23% on trading volume of 2,383,179 shares.
GreenChek Technology Inc., a leading globally focused provider of hydrogen fuel cell technology, is pleased to report that the previously announced Internet marketing campaign designed to develop a North American distribution partner network has had a tremendous response. To date we have received applications from 93 distributors and are currently in the process of qualifying the candidates per region. Our initial goal was to establish 30 regional distribution partners in 2010, growing by 30 distributors annually to 90 regional distribution partners by the end of 2012. The estimated potential gross revenue from this project for 2010-2012 is $76.8 million. We believe we are well on our way to building a strong network of distributors in North America and look forward to having the majority of the regions qualified and up and running in the second quarter of 2010.
Today’s SmallCapVoice.com Hot Stock to Watch:
NXT Nutritionals Holdings, Inc. (OTC BB: NXTH)
NXT Nutritionals Holdings, Inc. (OTCBB: NXTH) a developer and marketer of proprietary, patent-pending healthy natural sweeteners, food and beverage products, announced the addition of David Deno to its Board of Directors. David Deno is a veteran executive with over 27 years of experience in the restaurant industry having held various key positions including President, CEO and CFO of public and private companies.
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