Stocks are Flat After Weak Jobs Report
The stock market is trading in a narrow range after another disappointing report on the jobs market. A report on manufacturing in the Midwest barely topped expectations but also gave stocks some support.
The Dow Jones industrial average fell 4 points, a day after falling 268. The other major indexes were also slightly higher.
Payroll company ADP said private employers added just 13,000 jobs in June. That’s well short of the 60,000 economists polled by Thomson Reuters forecast.
The weaker-than-expected jobs report is the latest in a long string of disappointing economic data that has contributed to the market’s turbulent second-quarter performance. Heading into the final day of June, the Dow is down 9.1 percent for the three-month period. Broader indexes are down 11 percent.
The ADP report is often seen as a precursor to the Labor Department’s big monthly jobs report due out Friday. ADP’s data only includes jobs created by private companies so it can vary widely from the Labor Department data, which also includes government jobs.
Friday’s government report is expected to show employers cut a total of 110,000 jobs in June. However, economists predict the net loss of jobs is tied primarily to the government laying off temporary workers that were hired to work on the 2010 census.
Yesterday’s Top Performing Small Cap Stock:
Sillenger Exploration Corp. (OTCBB: SLGX)
Sillenger Exploration Corp. was a SmallCapVoice.com top performer closing up over 4% on trading volume of 11,500 shares.
Sillenger is a natural resource development company dedicated to bringing a progressive, creative and proprietary approach to natural resource exploration.
The Sillenger CLP Claims Licensing Program® is a turnkey process used in partnership with Governments to improve the way their natural resources are managed. The Company’s Government partners provide a “fast-track” to expediting all necessary permits, licenses, legal, and other bureaucratic documentation and procedures that exploration and extraction companies would require in order to begin their work programs in these countries.
The Company believes there is a strong indication that the Republic of Equatorial Guinea, which is a major offshore oil producer, is potentially rich with gold, diamonds, and other precious resources. The West Africa region hosts a number of major base metals mines extracting copper, zinc, bauxite, and iron ore. Recent exploration activity has led to the discovery of rare element strategic minerals such as uranium, tantalum, gallium and lithium.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies Secures $15 Million Reserve Equity Financing Facility With AGS Capital Group
NEW YORK, June 29, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets:TTCS), an information technology, smart logistics, and telemetrics company, today announced it has entered into a definitive agreement with AGS Capital Group, a New York based value fund, to provide investment capital of up to $15 million through a Reserve Equity Financing Facility.
Other Small Cap News
Level 3 Communications, Inc. (Nasdaq: LVLT)
Level 3 to Provide Network Support for MLB.com Media Archive
Level 3 to Provide High-Speed Internet, Colocation Services for MLB.com
BROOMFIELD, Colo.–(BUSINESS WIRE)–Level 3 Communications, Inc. (NASDAQ: LVLT) today announced that it has been selected by MLB.com, the official website of Major League Baseball, to deliver high-speed IP and colocation to support its network, media archive, as well as live and on-demand streaming capabilities.
Agria Corporation (NYSE: GRO)
Agria Provides Update to Its Strategic Review and Reaches Agreement in Principle to Divest P3A
BEIJING–(Marketwire - 06/29/10) - Agria Corporation (NYSE:GRO) (the “Company” or “Agria”), a China-based agriculture company with investments in key agriculture markets of China and New Zealand, today provided an update to its strategic review and announced it has reached an agreement in principle to divest Taiyuan Primalights III Agriculture Development Co., Ltd., or P3A, to Mr. Frank Xue, the president and a director of P3A.
Tegal Corporation (Nasdaq: TGAL)
Tegal Receives Order for Tegal 200 SE Silicon DRIE Process Tool From Leading MEMS Research Center
Customer Selects Tegal Silicon DRIE System for Advanced MEMS Research and Development After Highly Competitive Evaluation Process
PETALUMA, Calif.–(BUSINESS WIRE)–Tegal Corporation, (Nasdaq:TGAL) an innovator of specialized production solutions for the fabrication of advanced MEMS, power ICs and optoelectronic devices, today announced it has received an order for a Tegal 200 SE™ DRIE tool from a leading Asia Pacific-based Research and Development institution investigating MEMS and associated technologies. The Tegal 200 SE DRIE tool will be shipped and installed at the customer’s site later this calendar year.
ON Semiconductor (Nasdaq: ONNN)
ON Semiconductor Receives Celestica’s 2009 Total Cost of Ownership Supplier Award
Award Recognizes ON Semiconductor’s “Execution” in Supporting Celestica’s Supply Chain Sourcing Strategy
PHOENIX–(BUSINESS WIRE)–ON Semiconductor (Nasdaq: ONNN), a premier supplier of high performance, energy efficient silicon solutions for green electronics, has been awarded a 2009 Total Cost of Ownership (TCOOTM) Supplier Award from Celestica, a global leader in the delivery of end-to-end product lifecycle solutions. The awards program recognizes suppliers that support Celestica’s TCOO sourcing strategy to provide its customers with the best possible supply chain solution for their products.
HearUSA, Inc. (NYSE Amex: EAR)
HearUSA Introduces AARP Hearing Care Program for Americans Aged 50+ in Hawaii Today
WEST PALM BEACH, Fla., June 29 /PRNewswire-FirstCall/ — Designed to help millions of Americans aged 50+ who have hearing loss, the AARP Hearing Care program, provided by HearUSA (NYSE Amex:EAR), is being launched in Hawaii today as part of a nationwide rollout.
Vista Gold Corp. (NYSE Amex: VGZ)
Vista Gold Corp. Announces New Exploration Target Discovery at its Mt. Todd Gold Project and Provides Mt. Todd Gold Project Update
DENVER, June 29 /PRNewswire-FirstCall/ — Vista Gold Corp. (”Vista” or the “Company”) (TSX & NYSE Amex Equities: VGZ) announced today the discovery of a new exploration target located on its Exploration Tenements held together with the Mining Leases at the Company’s Mt. Todd gold project in Northern Territory (”NT”), Australia. Vista also provided updates on the progress of a drilling program at the Batman deposit and announced that the Pre-Feasibility Study for the Mt. Todd gold project is nearing completion.
Kodiak Oil & Gas Corp. (NYSE Amex: KOG)
Kodiak Oil & Gas Corp. Provides Interim Operations Update
Secures Pipeline Capacity on Dunn County Leasehold
Kodiak currently operates a two-drilling-rig program in the Williston Basin, with one rig running in Dunn County, N.D. and the second rig drilling ahead in McKenzie County, N.D. The Company also continues to participate in wells drilled by other operators throughout the Williston Basin. Basin-wide, Kodiak currently has four operated wells and three non-operated wells awaiting completion during the second half of 2010.
Response Genetics Inc. (Nasdaq: RGDX)
Response Genetics Launches EML4-ALK Genetic Test in Lung Cancer
Additional Biomarker Associated with Sensitivity to New Generation of Cancer Fighting Agents
LOS ANGELES–(BUSINESS WIRE)–Response Genetics Inc. (Nasdaq: RGDX), a company focused on the development and sale of molecular diagnostic tests for cancer, today announced that it has expanded its ResponseDX: Lung™ genetic test panel to detect the presence of EML4-ALK gene variants in lung cancer patients. EML4-ALK fusion genes are present in about four percent of tumors from patients with non-small cell lung cancer (NSCLC). These rearranged genes promote tumor cell growth and predict lack of benefit from therapies that inhibit EGF receptor (EGFR) activity.
Cerus Corporation (Nasdaq: CERS)
Study Results Presented at International Transfusion Congress Highlight Cerus’ Progress Toward Improving the Safety of Platelets, Plasma and Red Blood Cells
Data Supports Efficacy, Safety, Quality and Feasibility of INTERCEPT Pathogen Inactivation Process
CONCORD, Calif.–(BUSINESS WIRE)–Cerus Corporation (NASDAQ:CERS) announced results of 22 abstracts presenting experiences with the INTERCEPT Blood System for platelets, plasma and red blood cells during the XXXIst International Congress of the International Society for Blood Transfusion in Berlin, Germany held from June 26 to July 1. Studies included data collected in Spain, France, Germany, Italy, Belgium, Sweden, Luxembourg and Scotland, covering a broad range of topics from in vitro results of routine validations to therapeutic efficacy of treated platelets.
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