Austin, TX 4/27/2009 10:09:42 PM
News / Business

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

Stocks decline as investors worry that swine flu could slow the economic recovery

Wall Street retreated Monday, unsettled by the possibility of a major swine flu outbreak.

 

The flu is not yet a global pandemic. The virus is suspected to be responsible for more than 100 deaths in Mexico, but cases in the United States and Canada have been mild.

 

Still, investors are nervous that the flu could spread and thwart economic recovery, particularly in areas that rely on travel and tourism. Spain became the first European country to confirm a case of swine flu, and the European Union health commissioner advised Europeans to avoid nonessential travel to Mexico and the United States.

 

The virus is striking at a vulnerable time for the stock market and the economy. The Dow Jones industrial average has jumped 23.4 percent from its nearly 12-year low on March 9, but stalled last week as investors plodded through a deluge of mixed earnings reports.

 

Wall Street is also anxious as it waits for the results of the government's stress tests of the 19 largest U.S. banks. Regulators briefed bank officials on Friday about the tests, which will determine which banks may need further help from the government, but the results will not be publicly released until May 4.

 

In midmorning trading, the Dow fell 38.71, or 0.5 percent, to 8,037.58. The index's decline was mitigated by General Motors Corp., whose stock jumped 32 percent on job cuts and a request for a stock-for-debt exchange with the government.

 

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 6.42, or 0.7 percent, to 859.81, and the Nasdaq composite index fell 8.30, or 0.5 percent, to 1,685.99.

 

Yesterday’s Top Performing SmallCapVoice.com stocks:

 

Alkane, Inc.  (OTC BB: ALKN) was a SmallCapVoice.com top performer moving up over 72% on trading volume of 71,417 shares.

 

Alkane, Inc., is dedicated to the development and sales of alternative fuels and additives which reduce the cost of operating and maintaining vehicles. Additional benefits of Alkane, Inc.’s product offerings include positive environmental impact through the reduction of harmful emissions and a reduction in U.S. dependence on foreign oil through the reduction of crude oil dependent diesel fuel consumption.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

Defense Solutions Holdings, Inc.  (OTC BB: DFSHE)

 

Defense Solutions Holding, Inc. is headquartered in Exton, PA with branch offices on four continents. Established in 2001, Defense Solutions' founding corporate philosophy is to deliver the world's best solutions for our service members who deserve the best equipment, technology, and training, in performing their jobs with minimal risk to their lives and well being.

 

Defense Solutions has worked for U.S. Government departments and agencies to include, the White House, Departments of Defense, State, Homeland Security, and Interior to devise and implement strategies supporting armed forces and civilian programs. Many of these programs directly support US and allied soldiers in combat and veterans in retirement.

In direct support of US-led coalition efforts in Iraq, Defense Solutions has worked for international allied organizations including the Iraqi Ministry of Defense, NATO, and the Multi-National Force in Iraq.

 

Defense Solutions maintains exclusive agreements with various countries to deliver world-class technologies to U.S. and allied nations. Defense Solutions' principal offerings include new production and retrofit of armored vehicles, spare parts, and ammunition, supported by integrated logistics, training, and maintenance solutions.

 

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