8-11-10 Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Submitted by SmallCapVoice.com
By Angela Moon - Reuters
Wall Street down sharply on economic uncertainty
NEW YORK (Reuters) - Stocks fell sharply on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve heightened fears of a lackluster global economic recovery.
All S&P sector indexes were lower, with commodities and energy leading the way down as data in China pointed to lower consumption of raw materials and the International Energy Agency warned of risks to fuel demand if the global economy weakens.
Investors fled from riskier assets to safe-haven investments like the dollar and lower-risk government debt. U.S. 2-year Treasury note yields hit a record low.
Defensive stocks such as utilities and telecom held up better, with losses on the S&P utilities index limited to 1.5 percent. That move and a strong demand in bonds, are forecasting a “major slowdown in the economy,” said Ryan Detrick, senior technical strategist at Schaffer’s Investment Research.
Yesterday’s Top Performing Small Cap Stock:
Tootie Pie Company (OTCBB: TOOT)
Tootie Pie Company was a SmallCapVoice.com top performer closing up over 23% on trading volume of 44,100 shares.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels.
Today’s SmallCapVoice.com Hot Stock to Watch:
BRAVADA International Ltd (Pink Sheets: MFLI)
BRAVADA International is a company specializing in innovative media, health, fitness and lifestyle products that owns and operates BRAVADA Women’s Athletica, an exclusively women’s fitness apparel retail store, BRAVADA Productions, Kardahsian Khaos Celebrity Lifestyle Boutiques. BRAVADA also develops exciting brands through the creation of internet and television media content. BRAVADA is dedicated to providing the highest quality products, services and media that enriches and provides beneficial betterment for individuals, both physically and emotionally. Through its dedication to quality and innovation, BRAVADA delivers its products, services and media by empowering individuals through positive lifestyles and experiences.
SmallCapVoice Clients’ News
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies Engages Auditor Labrozzi & Company, P.A
TIE Prepares for Fully Reporting Status
NEW YORK, Aug. 10, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets: TTCS), who operates a portfolio of Homeland Security assets focused on environmental disaster remediation and security, driven by proprietary smart logistics, telemetrics, and advanced IT solutions, today announced that they have retained the Miami, FL auditing firm Labrozzi & Company, P.A. Labrozzi & Company is an SEC approved auditing firm and member of the SEC Financial Reporting Forum.
Concordis Group, Inc. (Pink Sheets: CNGI)
Avizent Introduces New Risk Sharing Captive for Restaurant Industry
Program helps turn premiums into profits; provides “Entree” and “Appetizer” options
Aug. 10, 2010 (PR Newswire) – COLUMBUS, Ohio — National claims and risk management service provider Avizent announced today the launch of the Restaurant Franchise Captive Program II, an innovative risk-sharing captive for restaurant franchisees covering all lines of business – workers’ comp, auto liability, general liability and property. The program is backed by a national A-rated carrier, which issues the policies and provides the reinsurance. Avizent is also partnering with Concordis Group Inc., a leading financial holding company, to share the risk for the new restaurant captive.
Other Small Cap News
Universal Power Group Inc. (NYSE Amex: UPG)
Universal Power Group Reports Record Second Quarter Net Income
“We are very pleased with the 38 percent growth in our bottom line results in the second quarter,” stated UPG’s President and Chief Executive Officer, Ian Edmonds. “While our revenues continued to be affected by weakness in consumer confidence and employment in the broader economy, the actions we’ve taken over the past few quarters, such as the changes to our sales force made at the end of 2009, have yielded positive results. In the second quarter, our sales of batteries, related power accessories and other products posted solid and broad-based gains across new and existing customers. We continued to carefully manage our operating expenses in order to lower our costs, and improve operating efficiency while remaining responsive to the demands of our customers.”
CAMAC Energy Inc. (NYSE Amex: CAK)
CAMAC Energy Enters into Agreement on Potential Acquisition of Interest in Offshore Nigerian Leases
HARTSDALE, N.Y.–(BUSINESS WIRE)–CAMAC Energy Inc. (NYSE Amex:CAK), today announced that on August 6, 2010, the Company entered into a memorandum of understanding (the “MOU”) with CAMAC Energy Holdings Limited, CAMAC International (Nigeria) Limited, and Allied Energy Resources Nigeria Limited (collectively, “CAMAC”). Pursuant to the MOU, the Company plans to acquire CAMAC’s full interest in Oil Mining Leases 120 and 121 (the “Leases”) located offshore Nigeria. The Company and CAMAC have agreed to work to finalize negotiations and related due diligence with CAMAC with a goal of entering into a definitive agreement for the acquisition of this interest by the Company on or before October 15, 2010.
Sport Endurance, Inc (OTCBB: SENZ)
Sport Endurance Projects $7.4 Million in Sales Through 2011
Figure Expected to Surpass $38.7 Million by 2013
SALT LAKE CITY, Aug. 11, 2010 (GLOBE NEWSWIRE) — Sport Endurance, Inc (OTCBB:SENZ), a health supplement company, announced today that the Company management expects to generate over $7.4 million in sales of its revolutionary Liquid Gel Cap products through 2011. Management believes these figures will surpass $38.7 million in revenues by 2013.
ValCom, Inc. (OTCBB: VLCO)
ValCom Scores Big With Televised Real Estate Auction
“Saturday night’s Auction was a hit,” said Vince Vellardita, President and CEO of ValCom. “This was the first of our series of auctions and we’re already seeing the anticipated revenues. The auctions will continue to gain momentum as people learn about this great opportunity to purchase a home for pennies on the dollar.”
Ready Mix Inc. (NYSE Amex: RMX)
RMX Holdings, Inc. Addresses Unusual Market Activity
PHOENIX–(BUSINESS WIRE) - RMX HOLDINGS, INC. (NYSE Amex: RMX) stated today that its policy is not to comment on unusual market activity or rumors.
In view of the unusual market activity in the common stock of RMX Holdings, Inc. (the “Company”), the New York Stock Exchange (“NYSE”) has contacted the Company in accordance with its usual practice. The Company states that its policy is not to comment on unusual market activity or rumors.
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