Austin, TX 4/28/2009 11:04:29 PM
News / Business

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

Stocks reverse direction on upbeat economic data

Stocks recovered from opening losses to post modest gains on Tuesday as housing and consumer confidence data fueling hopes a recession was easing offset concerns that major banks may need to raise more money.

Citigroup Inc is talking to the U.S. government about its capital levels after receiving early results of its stress test, but if it needs more capital, it does not expect to get it from the government, people familiar with the matter told Reuters.

Encouraging data helped stocks pare losses, as a report showed prices of single-family homes fell in February, but the rapid pace of decline had slowed, while consumer confidence rose to its highest this year with some expectations the recession is reaching a bottom.

The Dow Jones industrial average added 12.50 points, or 0.16 percent, to 8,037.50. The Standard & Poor's 500 Index edged up 0.93 points, or 0.11 percent, at 858.44. The Nasdaq Composite Index put on 3.07 points, or 0.18 percent, to 1,682.48.

The broad S&P 500 is up nearly 26 percent from March's bear market lows on increased optimism over the state of banks and signs the recession may be easing.

 

Yesterday’s Top Performing SmallCapVoice.com stocks:

 

Omega Commercial Finance Corporation  (Pink Sheets: OCFN) was a SmallCapVoice.com top performer moving up over 40% on trading volume of 515,093 shares.

 

Omega Commercial Finance Corporation announced that the Company. through BBB Developments Mexico, has received a Pre-qualified commitment letter for financing from BBVA Bancomer Bank for the completion of their ``Los Corales'' resort project located in Puerto Penasco, Mexico.

 

BBVA Bancomer, founded in 1932 and based in Mexico City, is Mexico's largest bank. It is 51 percent owned by Grupo Banco Bilbao Vizcaya Argentaria S.A. (BBVA), a Spanish-based multinational financial group. BBVA Bancomer provides a variety of services for both individuals and corporations. Other subsidiaries offer investment banking, trust management and asset appraisal; buy and sell securities and manage mutual funds; design and market insurance products; manage annuities under Mexico's retirement pension system; and provide bonding services. Additionally, BBVA Bancomer has recently acquired Compass Bank in the United States.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

GWS Technologies, Inc.  (OTC BB: GWSC)

 

GWS Technologies, Inc., an alternative energy company developing renewable energy solutions, which recently announced that it is negotiating an agreement with SEDCO, Inc. to supply solar panels and equipment to retrofit numerous commercial buildings located primarily in Arizona.

 

“GWS” stands for GreenWindSolar. We are an alternative energy company developing renewable energy solutions. A “green” wave of emerging environmental regulations, and government-wide “green” initiatives, are changing the way consumers, the commercial sector, and states, counties and municipalities, do business.

 

“SEDCO” stands for Sustainable Eco-Green Development Company. SEDCO, Inc. is a company dedicated to bridging the gap between the real estate development industry and the green products and services industry.

 

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