Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
AUSTIN, TX, November 19, 2008 -- SmallCapVoice.com, Inc., a recognized corporate consulting firm known for its ability to help emerging growth companies build a following among retail and institutional investors, provides the following market commentary and small cap stock highlights:
Stocks Fall Sharply after the Release of Weak Economic Data
In late morning trading, the Dow Jones industrial average fell 191.79, or 2.28 percent, to 8,232.96. Standard & Poor's 500 index fell 25.52, or 2.97 percent, to 833.60, while the Nasdaq composite index fell 43.21, or 2.91 percent, to 1,440.06.
The Russell 2000 index of smaller companies fell 17.81, or 3.98 percent, to 429.70.
Stocks have been trading erratically for several weeks as investors try to gauge the direction of the economy. Analysts expect the volatility to continue for some time while the market recovers from the steep losses logged in October.
Many economists believe the economy has fallen into a recession that could be the worst downturn in more than two decades. The expectation is that easing inflation pressures will give the Federal Reserve room to cut interest rates further to combat the downturn. But investors seemed to have found little consolation in the potential for an additional rate cut.
Volatility in the stock market has kept demand for Treasury bonds high. The yield on the benchmark 10-year Treasury note fell to 3.44 percent from 3.53 percent on Tuesday.
Meanwhile, a rescue plan for the struggling automakers appeared stalled on Capitol Hill. While a Senate vote could come as early as Thursday, it currently lacks the support to advance.
The dollar fell against other major currencies, while gold prices rose.
Investors are also awaiting a report expected to show U.S. oil inventories gained last week as fuel demand declined, pushing oil to its lowest in almost two years. Light, sweet crude fell 55 cents to $53.84 a barrel on the New York Mercantile Exchange.
Yesterday’s Top Performing SmallCapVoice.com stocks:
ZAP (OTC BB: ZAAP) was yesterday’s SmallCapVoice.com top performer moving up over 9% on trading volume of 100,274 shares.
Electric transportation pioneer ZAP announced today its financial results for the third quarter ending September 30, 2008. The company announced that increased demand for alternative transportation has resulted in record Advanced Technology Vehicle (electric vehicles) segment revenue in the quarter ended September 30, 2008 of $2.2 million, up 180% from Sept, 2007 quarter revenue of $0.8 million.
Today’s SmallCapVoice.com Hot Stock to Watch:
Heartland, Inc. (OTC BB: HTLJ) is today’s hot stock to watch.
Heartland, Inc. announced today that the Company finished the third quarter with continued profitability. Profit for the first nine months of 2008 was $1,387,719 on sales of $15,684,082. This compared favorably when viewed against the 2007 numbers of $9,656,306 in sales with a loss of $1,055,444. Maintaining a better control over the administrative costs along with the heavy backlog of projects have allowed Heartland to generate a net operating income of approximately 9% year to date versus an operating loss of about 10% in the same nine month period of 2007.
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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.
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