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Stocks were mixed Wednesday after some U.S. economic data came in better than expected.
Pending home sales rebounded in February from a record low, the National Association of Realtors reported, while the Institute for Supply Management's index of manufacturing activity contracted in March but by a bit less than anticipated.
Construction spending dropped in February for the fifth straight month, but at a slower pace than in January.
Not all of the reports came as a relief: The ADP National Employment Report said private sector employment dropped by 742,000 in March. The figure was higher than anticipated, and a rattling sign ahead of the Labor Department's Friday report on nationwide job cuts last month.
In midmorning trading, the Dow rose 4.22, or 0.1 percent, to 7,613.14.
Broader stock indexes were lower. The Standard & Poor's 500 index fell 0.26, or 0.03 percent, to 797.61. The Nasdaq composite index fell 4.02, or 0.3 percent, to 1,524.57.
Yesterday's Top Performing SmallCapVoice.com stock:
Capital City Energy Group, Inc. (OTC BB: CETG) was a SmallCapVoice.com top performer moving up over 33% on trading volume of 72,300 shares.
In addition to its four wholly owned subsidiaries; Avanti Energy Partners, Eastern Well Services, Capital City Petroleum and Hotwell Services, Capital City Energy Group ("CETG") is a rapidly expanding energy company. It is an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs and one of the few vertically integrated independent oil & natural gas companies operating today. CETG identifies and develops growth opportunities through drilling, operating, oil field service companies, acquisitions and fund management.
Today's SmallCapVoice.com Hot Stock to Watch:
Mantra Venture Group Ltd. (OTC BB: MVTG)
Mantra's stock is surging up over 36% on strong volume on the heels of signing a $3.5 Million Development Project with a Korean Engineering Company
Mantra Venture Group Ltd. is pleased to announce that it has just signed a Memorandum of Understanding (MOU) with Bluebird Co. Ltd. (Bluebird), an environmental engineering company based out of Seoul, Korea. Under the terms of the MOU, Bluebird will become an integral partner in the development, deployment and eventual commercialization of Mantra's Electro-reduction of Carbon Dioxide Technology in various territories within Asia.
As outlined in the MOU, the partnership will progress through three transitional phases. Under Phase 1, Mantra will deliver a 1kg-per day ERC demonstration unit to Bluebird in Korea by November 2009, after which both companies will collaboratively develop and improve upon the current technology. Phase 2 of the partnership, commencing in January 2010, will see the development and construction of the first commercial scale ERC reactor- capable of processing 1 ton of CO2 per day. Upon successful completion of Phases 1 and 2, Mantra and Bluebird will continue on to Phase 3 - the construction of a fully operational ERC unit with a 100-tonne per day capacity. Phase 3 is currently scheduled for 2012.
Mantra's research and development costs for Phases 1 and 2 of this project, estimated at $3.5 Million CAD, will be funded by Bluebird throughout the course of the partnership. In return, Bluebird will become Mantra's exclusive licensee, distributor, and manufacturing partner in Korea and various other territories within Asia (subject to royalty payments and compliance with key performance criteria).
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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.
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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