Stocks are higher after AIG agreed to sell its Asian division and as Manufacturing growth slowed in February
Stocks are higher after AIG announced its biggest asset sale since being rescued by the government. A report of continued growth in manufacturing also lifted the market.
The Institute for Supply Management says Monday that its manufacturing index fell to 56.5 in February from 58.4 in January. The reading is below the 58 economists predicted. But the report finds that employment in manufacturing is improving.
Stocks rose after AIG agreed to sell its Asian life insurance business to Britain's Prudential PLC for $35.5 billion. The deal is a sign of confidence in the economy.
In early morning trading, the Dow Jones industrial average rose 48.30, or 0.5 percent, to 10,373.56. The Standard & Poor's 500 index rose 6.00, or 0.5 percent, at 1,110.49, while the Nasdaq composite index is up 14.67, or 0.7 percent, at 2,252.93.
Yesterday’s Top Performing Small Cap Stock:
BioMedical Technology Solutions Holdings, Inc. (OTCBB: BMTL)
Biomedical Technology Solutions Holdings, Inc. was a SmallCapVoice.com top performer yesterday closing up over 52% on trading volume of 134,591 shares.
An audio interview with Biomedical Technology Solutions Holdings, Inc. CEO, Don Cox can be heard at http://smallcapvoice.com/blog/1-11-10-audio-interview-with-biomedical-technology-solutions-holdings-inc-otcbb-bmtl/.
“2009 was a great development year for BMTS allowing us to set the ground work for a strong 2010, I am extremely excited for our future and the year ahead of us,” said Don Cox, President and CEO.
Today’s SmallCapVoice.com Hot Stock to Watch:
Fleet Management Solutions Inc. (Pink Sheets: FLMG)
Fleet Management Solutions Inc. continues to shine since its initial profile on SmallCapVoice.com.
Fleet Management Solutions recently announced that one of its client companies, ATE Rent S.A. of Athens, Greece, which specializes in the operation of leasing passenger cars, has increased the size of its initial contract with FMS by over 200% in just over 5 months.
The initial contract between FMS and ATE Rent S.A., a Greece-based financial institution, was signed in August 2009 for the after sales servicing and management of its fleet of 225 vehicles. Following the success of the initial contract, ATE Rent S.A. has amended the contract to include an additional 452 leased vehicles for a total fleet of 677.
As part of the agreement, FMS provides full management of the fleet including accident and breakdown repairs, the provision of replacement vehicles, and regular and scheduled maintenance. The total value of the contract is expected to exceed US$800,000.
Other Small Cap News
VirnetX Holding Corporation (NYSE Amex: VHC)
VirnetX Calls $2 Warrants
SCOTTS VALLEY, Calif., Feb. 26 /PRNewswire-FirstCall/ -- VirnetX Holding Corporation, the "Company", (NYSE Amex: VHC), a secure real-time communications and collaboration technology company, today announced that it has notified the Depository Trust & Clearing Corporation ("DTC") that the Company exercised its rights to call those certain warrants to purchase shares of Company Common Stock with an exercise price of $2.00 per share (the "$2 Warrants") issued pursuant to the Company's underwritten public offering that closed on January 30, 2009.
Regenerx Biopharmaceuticals Inc. (NYSE Amex: RGN)
Researchers Report Novel Biological Properties of Fragments of Thymosin Beta 4
“These novel studies with Tβ4 fragments speak to the importance of understanding how wound healing, repair, tissue regeneration, and the inflammatory process may be regulated by different regions of the intact Tβ4 molecule. This is important because the results may provide specific functional targets for future therapeutic applications using different parts of the Tβ4 molecule and identify new opportunities, not only for ongoing clinical applications, but also for novel cosmeceutical applications as well,” stated Dr. Gabriel Sosne, the lead investigator.
Ivanhoe Energy Inc. (Nasdaq: IVAN)
Ivanhoe Energy announces the closing of Cdn$25 million option
Ivanhoe Energy Inc. (TSX: IE: NASDAQ: IVAN) is pleased to announce that it has closed the agent's option portion, of the company's previously announced Cdn$125 million Private Placement. The option consisted of the issuance of Cdn$25 million of Special Warrants. The closing of the option brings the total gross proceeds from the Private Placement to Cdn$150 million.
Atlas Energy, Inc. (Nasdaq: ALTS)
Atlas Energy, Inc. Reports Operating and Financial Results for the Fourth Quarter and Full Year 2009
Atlas Energy, Inc. is one of the largest independent natural gas producers in the Appalachian and Michigan Basins and a leading producer in the Marcellus Shale in Pennsylvania. Atlas Energy, Inc. is also the country’s largest sponsor and manager of tax-advantaged energy investment partnerships. Atlas Energy, Inc. also owns 1.1 million common units in Atlas Pipeline Partners, L.P. (NYSE: APL) and a 64% interest in Atlas Pipeline Holdings, L.P. (NYSE: AHD), a limited partnership which owns the general partner interest, all the incentive distribution rights and approximately 5.8 million common units of Atlas Pipeline Partners, L.P.
GTC Biotherapeutics, Inc. (Nasdaq: GTCB)
GTC Provides Update on TG20 Monoclonal Antibody Targeting CD20
GTC Biotherapeutics, Inc. (“GTC”, NASDAQ: GTCB) announced that it has achieved high-level production of TG20; an anti-CD20 monoclonal antibody (MAb). The TG20 MAb, which is produced in the milk of transgenic goats, is being co-developed by GTC and LFB as part of the LFB-GTC joint venture. TG20 has enhanced antibody-dependent cell-mediated cytotoxicity (ADCC), a key feature useful in the treatment of cancer and auto-immune diseases, and it has been shown to have 10-fold enhanced ADCC when compared side by side with rituximab in assays performed with B-cell chronic lymphocytic leukemia, or B-CLL, patient cancer cell isolates.
Micronetics, Inc. (Nasdaq: NOIZ)
Micronetics Receives an Order Valued at Approximately $2M for Microwave Isolators Used in a Radar System
Micronetics, Inc. (NASDAQ:NOIZ ) announced today that it has been awarded a contract valued at approximately $2M from a leading defense contractor for high performance microwave isolators that will be used in a radar system designed to help protect naval ships worldwide.
Verenium Corporation (Nasdaq: VRNM)
Verenium and BP Extend Galaxy Joint Development Program
Funding extended while companies continue to negotiate long-term partnership
Verenium Corporation (Nasdaq:VRNM), a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, today announced that it has extended the joint development program established in August 2008 with partner BP for an additional month until April 1, 2010. BP and Verenium will continue their ongoing joint development work to accelerate the development and commercialization of cellulosic ethanol, while the two parties continue negotiations for a longer-term collaboration.
Ariad Pharmaceuticals Inc. (Nasdaq: ARIA)
Ariad cancer treatment gets 'orphan drug' status
Ariad cancer treatment receives 'orphan drug' status from US, European regulators
Orphan drug status is given to drugs aimed at rare conditions or conditions that have a lack of treatments on the market. Incentives in the U.S. include seven years of market exclusivity following FDA approval, assistance in clinical trial design, a reduction in user fees, and tax credits.
US Gold Corporation (Nasdaq AMEX: UXG)
US Gold Corporation: El Gallo: Thick Intersections of Good Grade Continue
"Drilling at El Gallo continues to return thick intersections of good grade that start at or near surface. To date, 95% of the holes drilled have encountered significant mineralization! We are extremely pleased with these results. Going forward we will continue with our large exploration program, publish an initial resource estimate during the second quarter and look to complete an preliminary economic analysis by year-end. Also, on March 15th and 16th US Gold will be taking a number of mining analysts to El Gallo in order to highlight what we feel is one of the best silver projects owned by an junior," stated Rob McEwen, Chairman and CEO.
Uranerz Energy Corporation (Nasdaq AMEX: URZ)
Uranerz Provides Update on NI 43-101 Uranium Resources for PRB Properties
Uranerz Energy Corporation)(Nasdaq AMEX:URZ) is pleased to report that that the Arkose Mining Venture has received an updated independent National Instrument 43-101 ("NI 43-101") technical report for its South Doughstick Property which now includes the uranium resources on the west one half of Section 29, Township 43 North, Range 76 West 6th PM, Johnson County, Wyoming. Arkose has signed a lease for the 50% interest in the mineral rights on Section 29 that it did not control, which includes a portion of the South Doughstick resources. Arkose is a joint venture operated by the Company and owned by the Company (81%) and United Nuclear, LLC (19%).
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