Chinese regulators are trying to contain rapid economic growth to prevent speculative investment bubbles there. The surprising move comes a day after a tame inflation report raised hopes that China wouldn’t have to further tighten its monetary policy.
Concerns about debt problems in European countries like Greece, Spain and Portugal, as well as President Barack Obama’s push for new regulations on banks also weighed on the market and increased volatility in recent weeks.
On Thursday, European Union leaders pledged to provide Greece with support as it tries to bring its debt problems under control. There has been concern that debt problems there could spread and destabilize Europe’s common currency, the euro.
A Commerce Department report that showed retail sales grew more than expected in January had little effect on trading. Retail sales rose 0.5 percent last month, slightly better than the 0.3 percent expected by economists polled by Thomson Reuters.
The Dow Jones industrial average fell 133.85, or 1.3 percent, to 10,010.34. The Standard & Poor’s 500 index dropped 13.48, or 1.3 percent, to 1,064.99, while the Nasdaq composite index fell 23.12, or 1.1 percent, to 2,154.29.
New Client Alert:
Tootie Pie Company, Inc. (OTC BB: TOOT)
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.
Tootie Pie recently announced that it sold over 13,500 pies for the month of November 2009, an increase of 15% over November 2008, making this the best November in the Company’s history.
Don Merrill, Tootie Pie Company’s President & CEO, commented, “Coming on the heels of a 15% sales increase for October, this holiday season is shaping up very well for the Tootie Pie Company. I am pleased to see our continued sales growth, especially during these tough times.”
SmallCapVoice.com subscribers should take note that based upon the 15% year over year sales increase for both October and November combined with the seasonally strong Holiday season, we expect that Tootie Pie will report record third quarter operating results.
Yesterday’s Top Performing Small Cap Stock:
General Automotive Company (OTC BB: GNAU) was a SmallCapVoice.com top performer yesterday closing up over 13% on trading volume of 76,491 shares.
General Automotive Company (GNAU) is a provider of original equipment (OE) and aftermarket automotive parts and related automotive products at multiple levels of distribution throughout the United States and internationally. The Company operates through its wholly owned subsidiary, OE Source L.C. (OES). OES sells conventional auto parts that it imports directly from manufacturers, consolidators and distributors in the Far East to the customers in the United States.
GNAU last week announced it has an agreement to acquire privately held S.P.E.C. Inc. The transaction is expected to further position the Company as an organization that capitalizes on both organic growth as well as growth through strategic acquisition. S.P.E.C., based in Birmingham, AL, is a leading provider of high performance clutches and flywheels to the high performance automotive market. S.P.E.C., which reported unaudited revenue of approximately $5.6 million in 2009, will operate as a wholly owned subsidiary of GNAU.
Today’s SmallCapVoice.com Hot Stock to Watch:
Worldwide Food Services, Inc. (Pink Sheets: WFSV)
Worldwide Food Services, Inc. is a holding company consisting of multiple business segments, all related to the food and beverage industry. The foundation is derived from the various blind organizations that have first rights to the vending and food service in all federal and state buildings, airports, postal facilities, and military bases. Worldwide Food Services, Inc. developed a national buying co-op (National Blind Enterprise Co-op) to fill the need of the thousands of visually impaired business people who were purchasing food and beverages individually at higher prices that were called for base on their total volume.
Other Small Cap News
Amicus Therapeutics (Nasdaq: FOLD)
Amicus Therapeutics Presents Positive Data Update From Phase 2 Extension Study of Amigal(TM) for Fabry Disease
CRANBURY, N.J., Feb. 11 — Amicus Therapeutics (Nasdaq: FOLD) announced today additional positive preliminary data from its ongoing Phase 2 extension study of its investigational drug Amigal(TM) (migalastat HCl) for Fabry disease at the Lysosomal Disease Network WORLD Symposium in Miami, Florida. The Company also presented encouraging data from preclinical studies evaluating the combination of pharmacological chaperones and enzyme replacement therapy (ERT) for Fabry disease and Pompe disease as well as from preclinical studies examining the use of pharmacological chaperones for the treatment of Parkinson’s disease.
OPKO Health, Inc. (NYSE Amex: OPK)
OPKO Health Announces Development of Blood Test for Alzheimer’s Disease
MIAMI–OPKO Health, Inc. (NYSE Amex:OPK) today announced the development of a simple diagnostic blood test for Alzheimer’s disease. The test, designed to detect elevated levels of antibodies unique to Alzheimer’s disease, was approximately 95% accurate in initial testing.
Advanced Photonix, Inc. (NYSE Amex: API)
Advanced Photonix, Inc. Continues Supplying Custom Products for Navy With $2.4 Million Follow-On Order
The products to be supplied for this order include a custom photodiode assembly and optical sensor used for the Navy’s Guided Missile Systems. The Guided Missile Weapon System is the world’s most modern ship self-defense weapon, and has been specifically designed to provide exceptional protection for multiple ship platforms.
International Tower Hill Mines Ltd. (NYSE Amex: THM)
International Tower Hill Receives Share Ownership Top-up Notice from AngloGold Ashanti
VANCOUVER, BRITISH COLUMBIA–International Tower Hill Mines Ltd. (AMEX:THM) is pleased to announce that AngloGold Ashanti Exploration Inc., a subsidiary of AngloGold Ashanti Limited, has exercised its right to maintain its 13.2907% equity interest in the Company. AngloGold’s equity interest had been diluted by virtue of the Company’s issuance of shares since May 19, 2009, principally due to the exercise of incentive stock options, broker options and in connection with the purchase the interest of Redstar Gold Corp. in the Company’s North Bullfrog project.
THQ Inc. (Nasdaq: THQI)
THQ and Syfy Enter into Strategic Alliance to Create and Publish Original Content across All Major Media Platforms Inspired by Both THQ’s Award-Winning Gaming Franchises and Jointly Developed New Intellectual Properties
The deal with THQ comes as Syfy prepares to launch an aggressive expansion of its brand into the kids space with the unveiling of its Syfy Kids banner. Dedicated to serving the all-important youth market of 2 – 17 year olds, Syfy Kids is being designed to deliver compelling content across multiple platform that enables young consumers to stimulate their imagination with fantastical worlds, stories and characters in the realms of science fiction, fantasy, mystery, paranormal and action/adventure.
Motorola Inc. (NYSE: MOT)
Motorola says will split in 2 in early 2011
Motorola targets 1st quarter of 2011 to separate handset, home units from business services
“We believe this configuration is cleaner and more compelling for customers and investors,” Brown said in an interview. “We do anticipate that both business segments will have positive operating cash flow moving forward.”
Noah Education Holdings Ltd. (NYSE: NED)
Noah Education Announces Unaudited Second Quarter Fiscal 2010 Financial Results
Revenue increased by 14.5% over the same quarter last year
Basic EPS increased by 66.7% over the same quarter last year
Mr. Dong Xu, Noah’s Chairman and Chief Executive Officer, said, “I’m pleased to report 14.5% revenue growth and 66.7% increase in basic earnings per share as compared to the second quarter in 2009, in what is typically our seasonally slow quarter. We continue to execute our strategy and deliver on all of our guidance during a transitional period for the Company, with restructuring of senior management and key personnel taking on wider remits in terms of the breadth and depth of their roles.
ZymoGenetics, Inc. (Nasdaq: ZGEN)
ZymoGenetics Reports Fourth Quarter and Year End 2009 Financial Results
Solid Year-End Cash Position Strengthened Further by January 2010 Stock Offering
“During 2009 we made significant changes to solidify our future and to maximize shareholder value by focusing on our most valuable assets where we have a significant ownership position. We significantly reduced our cost structure by aggressively restructuring the organization and solidified our cash position by entering into new collaborations,” said Douglas E. Williams, Ph.D., Chief Executive Officer of ZymoGenetics.
Curis, Inc. (Nasdaq: CRIS)
Curis Achieves Milestone Under Hsp90 Collaboration with Debiopharm
“We believe that Debio 0932 may have broad potential in a number of cancer indications based on its multiple mechanisms of action and client proteins, and its remarkable pharmacological properties, and we are pleased that the second compound generated from Curis’ proprietary targeted cancer platform has advanced into the clinic,” said Dan Passeri, Curis’ President and Chief Executive.
China Infrastructure Investment Corporation (Nasdaq: CIIC)
China Infrastructure Investment Reports Second Quarter Net Income Grew 526% Compared With the Same Period Last Year
Revenues in the Period Were Affected by Severe November Snowstorm, but Offset by Decreased Maintenance and Interest Expense
The Company’s Chairman and CEO, Mr. Li Xipeng, commented, “We are very pleased with the substantial advance we achieved in net income in both the second quarter and six month periods. Further, we continue to anticipate that barring unusual events such as the November snowstorm, toll growth on the Expressway should accelerate in 2010 in line with China’s gradually improving economy, especially in the Henan province where the urbanization process is ongoing.”
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Stuart T. Smith CEO