Stephen Kirkland and Rita Nazareth, Reuters
Stocks, Euro Decline as Italian Bond Yields Reach Record on Margin Calls
Stocks and the euro plunged as Italian bond yields surged to euro-era records after a clearing firm increased the deposits it demands for trading the nation's securities, intensifying the European credit crisis. The dollar strengthened and Treasuries surged.
The Standard & Poor's 500 Index lost 2 percent at 11:22 a.m. in New York, trimming its decline from 2.9 percent. The Stoxx Europe 600 Index slid 1.6 percent. The yield on Italy's five-year note jumped 72 basis points to 7.60 percent. The euro fell as low as $1.3553, the weakest since Oct. 10. The yield on 10-year Treasuries sank 10 basis points to 1.98 percent. Copper futures slipped 2.2 percent as the S&P GSCI Index of commodities slumped 0.4 percent.
The higher deposits demanded by LCH Clearnet SA, a clearing house that guarantees investors' trades are completed, drove losses in bank stocks that led benchmark indexes lower in Europe and the U.S. Italian Prime Minister Silvio Berlusconi's offer to resign yesterday triggered questions about who will lead the nation, while Greek Prime Minister George Papandreou's talks on forming an interim government dragged into a third day.
Yesterday's Top Performing Small Cap Stock:
Stronghold Metals Inc. SDMTF (TSX-V: Z)
Stronghold Metals Inc. was a SmallCapVoice top performer closing up over 8% on trading volume of 25,000 shares.
Stronghold Metals Inc. is a mining exploration company listed on OTCQX under the trading symbol SDMTF and TSX-V symbol Z. It is based in Vancouver, BC, and it focuses on the discovery of gold, copper and other metals in South America. Stronghold is currently active in two countries, Guyana and Brazil. Its board is comprised of experienced professional geo-scientists and financiers who have a proven track record of bringing mines to production and value to their shareholders' investment. The Company is currently conducting a 15,000 metere drill program on its flag property, the Eagle Mountain Project in Guyana (in JV with IAMGOLD). The Company is also looking to add to its portfolio of properties through mergers and acquisitions in order to diversify its interests and increase value to its shareholders, as it has recently done with its affiliation with IAMGOLD.
Today's SmallCapVoice.com Hot Stock to Watch:
GreenLight Resources Inc PRZCF (TSX-V: GR)
GreenLight Prospectors Discover New Gold-Bearing Boulder Train Dispersed Over 450 Meters at Keymet, Bathurst Camp New Brunswick
Assays Range From 1.7 to 12.2 Grams per Tonne Au
VANCOUVER, BRITISH COLUMBIA-(Marketwire – Nov. 8, 2011) – GREENLIGHT RESOURCES INC. (TSX-V:GR) PRZCF PH is pleased to announce that it has started a soil geochemistry survey over its 100% owned Keymet Property, located 24 kilometres NNW of Bathurst, New Brunswick. The soil sampling grid is laid out to cover the area of abundant arsenopyrite (Asp) bearing altered metasediment boulders (up to 1 tonne) and the up-ice projection of their probable source. Float and bedrock samples recently taken by Greenlight's prospectors with Asp mineralization returned assays up to 12.2 grams per tonne (gpt). The potential source area is marked by a strong chargeability IP anomaly coincident with airborne mag and TEM (transient electromagnetic) anomalies. The gold mineralization has been shown by the assays received to date to be solely associated with the Asp content of the host rock – the higher the arsenic content, the higher the gold content. Therefore the soil sampling will define areas of high arsenic content in the soils which in turn will become prime targets for surface trenching.
GreenCell Incorporated GCLL
GreenCell, Inc. New Product Could Change $600 Million Market
NEW YORK, NY – (Marketwire) – 11/09/11 – GreenCell, Inc. GCLL announced last week that they have completed their prototype of a fully operational ceramic igniter utilizing their UltraTemp technology. (http://finance.yahoo.com/news/GreenCell-Inc-Announces-pz-281497599.html?x=0&.v=1)
GreenCell has also announced it has a letter of interest from a major international appliance manufacturer which could push GreenCell's technology into households across the globe. Hot surface igniters are used in everything from stove tops to fireplaces which could give GreenCell the versatility to enter many different markets and revenue streams.
Other Small Cap News
American Power Corp. AMPW
American Power Corp. Announces Positive Drilling Results at Pace Coal Project
DENVER, CO — (Marketwire) — 11/09/11 — American Power Corp. AMPW (“American Power” or “the Company”) is pleased to announce positive preliminary laboratory results of its exploration drilling program and the amendment of its prospecting permit to cover an additional nine drill locations corresponding to Phase III of its exploration drilling program at the Pace Coal Project in Judith Basin County, Montana.
Preliminary laboratory results for the five core samples of Phase I were received and showed a high energy content with a range of 11,462 and 18,224 BTU measured on a dry and ash free basis (DAF). Sulfur content ranged from 2.0% to 3.7% (DAF) while ash content ranged from 30.6% to 51.9% (DAF).
US Dataworks, Inc. UDWK
Cabela's Inc. and US Dataworks Announce PayItFast™ Service for In-Store Payment Processing
SIDNEY, Neb., and SUGAR LAND, Texas, Nov. 9, 2011 /PRNewswire/ — Cabela's Incorporated CAB and US Dataworks, Inc. (OTC Bulletin Board: UDWK) today announced the introduction of PayItFast for accepting Cabela's CLUB® Visa card payments in all Cabela's® U.S. retail stores. The Cabela's CLUB Visa card is issued by World's Foremost Bank, a wholly owned subsidiary of Cabela's. PayItFast, a revolutionary new payment service provided by US Dataworks, is a faster way for customers to make payments on Cabela's CLUB cards while visiting any Cabela's U.S. retail store. The PayItFast service was piloted in five Cabela's retail stores in mid-September and was expanded to all 32 Cabela's U.S. retail stores in late October.
AuraSound, Inc. ARUZ
AuraSound Ships One Millionth TV Soundbar
SANTA ANA, California, Nov. 9, 2011 /PRNewswire-Asia-FirstCall/ — AuraSound, Inc. (OTC BB: ARUZ) announced today it that it recently shipped its one millionth TV soundbar in just over two years from initial product launch. The company offers a range of entry to high end soundbar models worldwide under multiple brands. AuraSound's manufactured TV soundbars won the top three ratings from U.S. Consumer Reports earlier this year, and have consistently earned top rankings in many other independent product reviews. The company recently announced revenue growth of 819% in its 2011 fiscal year ending June 30th, 2011, largely fueled by the exploding demand for TV soundbars.
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