Stocks are flat as investors await the Fed's statements and decision on interest rates
Major stock indexes were little changed Tuesday while investors awaited results from the Federal Reserve's meeting on interest rates.
Policymakers are almost certain to keep the Fed's benchmark rate at a historic low of near zero so investors will be focused on the Fed's take on the economy. The central bank is expected to release a statement at 2:15 p.m. EDT following its meeting.
As the economy improves the Fed will need to start increasing rates to fend off inflation. Investors will pore over the Fed's statement for clues about when rates might change. The Fed has repeatedly said inflation is not an immediate problem, and it plans to keep rates low for an "extended period."
Any change in the language that indicates the Fed will raise rates sooner rather than later could touch off selling in the stock market. Higher rates could raise borrowing costs and be a drag on the economy.
In early trading, the Dow Jones industrial average rose 3.78, or less than 0.1 percent, to 10,645.93. The Standard & Poor's 500 index rose 2.53, or 0.2 percent, to 1,153.04, while the Nasdaq composite index rose 3.10, or 0.1 percent, to 2,365.31.
Yesterday’s Top Performing Small Cap Stock:
CMG Holdings, Inc. (OTCBB: CMGO)
CMG Holdings, Inc. was a SmallCapVoice.com top performer on Friday closing up over 66% on trading volume of 209,000 shares.
Volume Alert: The increase in stock price came on trading volume of 14x normal.
CMG Holdings, Inc. www.cmgholdingsinc.com is a full service global marketing and communications holding company operating in the sectors of talent management, event management and commercial rights and is headquartered in Miami, Florida with a marketing and sales office in New York, Chicago and Los Angeles.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company (OTCBB: TOOT)
In a New Audio Interview at SmallCapVoice.com, Don Merrill, Tootie Pie Company's President and CEO, Provides Details Regarding Recent News
Mar. 16, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview featuring Tootie Pie Company, Inc. (OTCBB: TOOT) is now available. The interview can be heard at http://smallcapvoice.com/blog/3-11-10-audio-interview-with-tootie-pie-company-otcbb-toot/.
SmallCapVoice Clients' News
GWS Technologies, Inc. (OTCBB: GWSC)
In A New Audio Interview at SmallCapVoice.com, Richard Reincke, CEO of GWS Technologies, Inc., Provides Details Regarding Recent News
Mar. 15, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview featuring, GWS Technologies, Inc. (OTCBB: GWSC), an alternative energy company developing renewable energy solutions, is now available. The interview can be heard at http://smallcapvoice.com/blog/3-12-10-audio-interview-with-gws-technologies-inc-otcbb-gwsc/.
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies Announces MobileApps Next Generation iPhone Application
NEW YORK, March 16, 2010 (GLOBE NEWSWIRE) — TIE Technologies, Inc. (Pink Sheets:TTCS), a systems integration and telecommunications company focused on engineering and delivering innovative solutions for the dynamic global security, voice and data communications markets, today announces MobileChat 2, the next generation of its successful iPhone application chat product, through its wholly owned subsidiary MobileApps, Inc. (“MobileApps”).
Attitude Drink Company, Inc. (OTCBB: ATTD)
Attitude Drinks Inc. Announces Sponsorship of Olympic Gold Medalists to Represent Phase III 'Recovery'(R)
PALM BEACH GARDENS, FL — (Marketwire) — 03/16/10 — Attitude Drinks Inc. (OTCBB: ATTD) announced today a partnership with Olympic snowboarding gold medalists Kelly Clark and Seth Wescott. Clark, a two-time Olympic medalist in halfpipe, is widely considered one of the greatest female representatives of the sport. The Vermont native has won every major snowboarding title and event in the history of the sport including the U.S. Open, Olympics, Winter X Games and others. Wescott, the first and only gold medalist in snowboardcross, is widely considered the sport’s gold ambassador around the world. The Maine native is a four-time U.S. National champion, three-time World Championships medalist and eight-time Winter X Games medalist.
Other Small Cap News
Town Sports International Holdings, Inc. (Nasdaq: CLUB)
Town Sports International Holdings, Inc. Announces Fourth Quarter and Full-Year 2009 Financial Results
Town Sports International Holdings, Inc. (“TSI” or the “Company”) (NASDAQ: CLUB), a leading owner and operator of health clubs located primarily in major cities from Washington, DC north through New England, operating under the brand names “New York Sports Clubs,” “Boston Sports Clubs,” “Washington Sports Clubs” and “Philadelphia Sports Clubs,” announced its results for the fourth quarter and full-year ended December 31, 2009.
China Sunergy Co., Ltd. (Nasdaq: CSUN)
China Sunergy Announces Acquisition of Two Solar Module Manufacturers
China Sunergy Co., Ltd. ("China Sunergy") (Nasdaq:CSUN), a specialized solar cell manufacturer based in Nanjing, China, announced today an agreement to acquire 100% of the shares of two related module manufacturers, CEEG (Shanghai) Solar Science & Technology Co., Ltd and CEEG (Nan Jing) New Energy Co., Ltd.
Abraxas Petroleum Corporation (Nasdaq: AXAS)
Abraxas Provides Operational Update and Announces Additional Non-Core Divestitures
Pursuant to our previously announced initiative to divest principally non-operated, non-core assets to generate cash for debt repayment and to accelerate our capital program, Abraxas has sold properties for total net proceeds of approximately $11.2 million, $5.4 million of which has been previously announced. In total, these properties produced approximately 142 Boepd (approximately 3% of Abraxas’ daily net production) and had approximately 606 MBoe of proved reserves (approximately 2% of Abraxas’ net proved reserves). The simple metrics equate to $78,385 per producing Boepd and $18.41 per proved Boe.
U.S. Energy Corp. (Nasdaq: USEG)
U.S. Energy Corp. Announces Initial Production Rate on Bakken Wells, Kalil 25-36 #1H (1,586 BOE/D) and Papineau Trust 17-70 #1H (3,042 BOE/D)
Updates Drilling Initiatives in the Williston Basin and Gulf Coast Region
"Though still early in the year, we have made real progress against our $26.5 million 2010 drilling plan both with our core Williston Basin program and in the Gulf Coast," stated Keith Larsen, CEO of U.S. Energy Corp. "We currently have five wells in the process of being drilled or completed and we expect to drill at least six more wells in the Williston Basin this year and up to 15 more wells with our Gulf Coast partners in 2010. We anticipate drilling activity for the balance of the year in the Bakken to proceed at a more measured pace, although we will actively continue to evaluate opportunities to accelerate growth in 2010," he added.
Icagen, Inc. (Nasdaq: ICGN)
Icagen Reports Positive Results for ICA-105665 in Patients With Photosensitive Epilepsy
Icagen, Inc. (Nasdaq:ICGN) today reported positive results in its Phase IIa epilepsy study of ICA-105665, the Company's novel orally available small molecule KCNQ potassium channel agonist.
NTS Realty Holdings Limited Partnership (NYSE Amex: NLP)
NTS Realty Holdings Limited Partnership Announces the Sale of Outlet Mall Property to Garden Ridge Corporation
NTS Realty Holdings Limited Partnership (the "Company") announced today that it completed the sale of its Outlet Mall property in Louisville, Kentucky to Garden Ridge Corporation. The Company received $4.0 million in cash in connection with the sale. The Company intends to use the proceeds from the sale to repay outstanding debt, for general corporate purposes and/or to purchase properties in a manner that would qualify as a Section 1031 exchange under the Internal Revenue Code.
About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client's financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
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Stuart T. Smith CEO
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