Austin, TX 6/11/2009 10:33:01 PM
News / Business

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

Stocks get a boost from Growth in retail sales and better-than-expected jobless claims data

Investors welcomed a better-than-expected report on jobless claims and growth in retail sales, pushing stocks higher Thursday morning.

 

Investors have been latching on to signs of improvement in the economy to push stocks higher over the past three months, although rising interest rates have recently become a concern and sent stocks lower on Wednesday.

 

The Labor Department said number of newly laid-off Americans filing for jobless benefits fell to a seasonally adjusted 601,000, better than the 615,000 expected by economists polled by Thomson Reuters.

 

Despite that relative improvement, the number of unemployed continuing to file for claims rose to 6.8 million, the highest on records dating to 1967.

 

The Commerce Department said retail sales volume increased 0.5 percent in May, ending a two-month streak of declines. The results were in line with economists' expectations. It was the largest increase in retail sales since a 1.7 percent increase in January.

 

Retail sales are seen as a key indicator of economic improvement because consumer spending accounts for more than two-thirds of economic activity.

 

In early morning trading, the Dow Jones industrial average rose 60.84, or 0.7 percent, to 8,799.86. The Standard & Poor's 500 index rose 5.38, or 0.6 percent, to 944.53, while the Nasdaq Composite index rose 11.53, or 0.6 percent, to 1,864.61.

 

Yesterday’s Top Performing Small Cap stock:

 

GWS Technologies, Inc.  (OTC BB: GWSC) was a SmallCapVoice.com top performer soaring up over 181% on trading volume of 1,142,700 shares.

 

GWS Technologies, Inc., an alternative energy company developing renewable energy solutions, today announced that it has submitted preliminary plans to the Salt River Project Agricultural Improvement and Power District (SRP) to develop a solar farm near the Phoenix-Mesa Gateway Airport in Mesa, Arizona. Because the submission was prior to the June 1, 2009 deadline, when SRP reduced its rebate to $2.25 per watt from $2.50 per watt for commercial solar production, GWS secured the higher rebate for the first phase of the project.

 

GWS will provide equipment and technology integration on the project, with initial cost estimates for solar equipment for the entire project at approximately $30 million. Arizona has recently become a focal point for solar projects because of a climate uniquely suited to solar energy production, as well as the availability of significant state and federal subsidies and billions of dollars in economic-stimulus money earmarked for solar power.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

Safeguard Security Holdings, Inc., Inc.  (Pink Sheets: SSHS)

 

Safeguard Security Holdings, Inc., a provider of corporate and industrial security systems and personnel, announces today that the Board of Directors have appointed Shelly Anderson, Vice President, Operations, for its SYSTEMSgroup business unit and all operating divisions.

 

Ms. Anderson is a retired executive of TXU with 15 years of service to the massive power utility company. During her tenure, she was appointed as Corporate Security Manager in 2005, and held that position for over three years prior to her retirement. Ms. Anderson worked with SYSTEMSgroup as her security vendor during that period and now assumes her new management role as the vendor (SYSTEMSgroup) serving her previous employer. Ms Anderson will spearhead the operations of all divisions of SYSTEMSgroup, including SYSTEMSgroup Security Resources, SYSTEMSgroup Protective Services, SGI Protective Services and its investigations and patrol divisions.

 

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