Market Overview

9-29-10 Daily Small Cap Market News and Stock Highlights from

Associated Press

Stocks slip as European protests worsen debt fears

Stocks falter in early trade, following European markets lower on austerity protests

NEW YORK (AP) — Stocks slipped in early trading Wednesday as a wave of protests against austerity measures in Europe brought new worries about the region's financial system.

The dollar fell further against other currencies on anticipation of more action by the Federal Reserve to push U.S. interest rates down. Gold continued to climb past $1,300.

European markets fell as demonstrators gathered in Brussels, Spain and Ireland to protest austerity measures aimed at preventing another fiscal crisis that required a bailout of Greece earlier this year. The protests raised concerns that countries like Spain will not be able to implement policies required to heal their bloated public finances.

U.S. stocks had swooned this spring as a fiscal crisis in Greece appeared to be spreading to other weak European economies like Portugal and Spain. A relative calm in European markets since then has allowed U.S. stocks to rise sharply.

Wednesday's decline in U.S. stocks marked another pause in a monthlong rally that has made this September one of the strongest for U.S. stocks in history.


Yesterday's Top Performing Small Cap Stock:

Concordis Group, Inc. (Pink Sheets: CNGI)

Concordis Group, Inc. was a top performer closing up over 172% on trading volume of 18,850 shares.

Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with various landowner partners to identify appropriate locations for its charging stations. The Company seeks to provide convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.

An estimated 40 million plug-in electric vehicles are predicted to be on the road by the year 2030. This estimate includes models from auto industry leaders, such as the Nissan Leaf, the GM Chevy Volt, the Fisker Karma, and the Tesla Model S. Car Charging Group, Inc. and other companies in the EV industry such as ECOtality and Better Place, realize the need to establish charging networks throughout the transportation infrastructure to provide easy access to charging stations everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group, Inc. seeks to become the leading provider of electric car charging services. The Company has launched its service in the South Florida market and is expanding its operations both nationally and internationally.

Today's Hot Stock to Watch:

Tootie Pie Company (OTCBB: TOOT)

Tootie Pie Company, Inc. (OTCBB: TOOT) announced recently that unit sales for August 2010 were up 10%, versus August, 2009.

“We are experiencing positive sales trends in all of our sales channels. This is especially encouraging as we head into the ever important upcoming holiday season, where up to 60% of our annual sales will occur,” said Don Merrill, President & CEO.

The Company had previously reported sales increases for nine months in a row in July; and August would be the tenth consecutive month of sales increase.


Other Small Cap News

Abraxas Petroleum Corporation (Nasdaq: AXAS)

Abraxas Provides Operational Update

“These past two months have been busy operationally and we look forward to announcing well results in the near future, or in the case of the Williston Basin, as soon as service equipment becomes available. In any emerging play with rapidly increasing activity levels, drilling rigs, service equipment and crews become scarce until equipment is relocated and crews trained. For example, the Ravin well took much longer to drill than originally anticipated as we experienced a number of down days as the drilling rig was poorly equipped, poorly maintained and run by an inexperienced crew. That being said, the rig is getting a complete overhaul before moving to our second operated location. We plan on continuing our divestiture program throughout the end of the year and if we are successful, we anticipate an additional $15 – $20 million in net proceeds,” commented Bob Watson, Abraxas' President and CEO.


Harris & Harris Group, Inc. (Nasdaq: TINY)

Harris & Harris Group Announces First Venture Debt Investment

NEW YORK, Sept. 28, 2010 (GLOBE NEWSWIRE) — Harris & Harris Group, Inc., (Nasdaq:TINY) announced today its first venture debt investment of $500,000 in GEO Semiconductor, Inc. The round of venture debt financing was led by Montage Capital, LLC. We received warrants as part of this venture debt financing. This investment is part of Harris & Harris Group's efforts to expand its core venture capital investments in equity of privately held and publicly traded small companies with debt securities that provide predictable cash flows and timelines for returns on investment. In addition to providing venture debt financing, Harris & Harris Group continues to make equity-based venture capital investments in companies developing and integrating products enabled by nanotechnology and microsystems.


Brigus Gold Corp. (NYSE Amex: BRD)

Brigus Gold Corp. Announces C$50 Million “Bought Deal” Financing

HALIFAX, Nova Scotia–(BUSINESS WIRE)–Brigus Gold Corp. (“Brigus Gold” or the “Company”) (TSX: BRD)(NYSE Amex: BRD) is pleased to announce that it has entered into an agreement with a syndicate of investment dealers, whereby the Underwriters have agreed to: (i) purchase 30,000,000 units (“Units”) of Brigus at a price of C$1.50 per Unit (the “Unit Price”) for gross proceeds to the Company of C$45,000,000, and (ii) offer for sale on a guaranteed agency basis, up to 2,941,177 common shares designated as flow-through shares for purposes of the Income Tax Act (Canada) (the “Flow-Through Shares”), at a price of C$1.70 per Flow-Through Share (the “Flow-Through Price”) for gross proceeds to the Company of up to C$5,000,000 (collectively, the “Offering”).


JetBlue Airways (Nasdaq: JBLU)

JetBlue prefers to grow on its own: CEO

WASHINGTON (Reuters) – JetBlue Airways (NasdaqGS:JBLU) has no plans to get involved in airline merger activity, preferring instead to grow on its own, the company's chief executive said.

Responding to Southwest Airlines Co's (NYSE:LUV) plan to buy AirTran Holdings (NYSE:AAI), JetBlue CEO Dave Barger said the company growth strategy “has proven to be the right path forward” and would “not be distracted” from its goals.


Magellan Petroleum Corporation (Nasdaq: MPET)

Magellan Petroleum Corporation Proven and Probable Reserve Report and Discussion

For the Year Ended June 30, 2010 (Dollars Quoted are US$)

PORTLAND, Maine, Sept. 28 /PRNewswire/ — Magellan Petroleum Corporation (Nasdaq:MPET) (ASX:MGN) (the “Company”) reported total proved oil and natural gas reserves as of June 30, 2010 were 9.7 million barrels of oil equivalent (“MMBOE”), consisting of 9.48 million barrels (“MMbbls”) of crude oil and 1.53 billion cubic feet (“Bcf”) (.26 MMBOE) of natural gas. Taking into account the sale of the Cooper Basin assets and the acquisition of the Poplar Fields, the Company's reserves increased from the year-end 2009 reported estimates of 1.6 MMBOE to 9.7MMBOE at year end 2010.


Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX)

Keryx Biopharmaceuticals Initiates Long-Term Study Component of Phase 3 Registration Program of Zerenex (ferric citrate) for the Treatment of Hyperphosphatemia in Patients with End-Stage Renal Disease on Dialysis

Short-Term Study Component of Phase 3 Registration Program to be Completed by Year End

NEW YORK, Sept. 29 /PRNewswire/ –Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) announced today the initiation of the long-term Phase 3 study of Zerenex(TM) (ferric citrate), the Company's iron-based phosphate binder for the treatment of elevated serum phosphorous levels, or hyperphosphatemia, in patients with end-stage renal disease (ESRD) on dialysis. The initiation of this study marks the commencement of the final component of the Company's Phase 3 registration program for Zerenex, which is being conducted in accordance with a Special Protocol Assessment (SPA) agreement with the FDA. Pursuant to the SPA agreement, the Zerenex Phase 3 registration program consists of a short-term efficacy study, which was initiated in May 2010 and is expected to be completed in the fourth quarter of 2010, and the 58-week long-term safety and efficacy study initiated today.


FuelCell Energy, Inc. (Nasdaq: FCEL)

FuelCell Energy Awarded $2.0 Million to Continue Development of High Pressure Hydrogen Compressor Technology

DANBURY, Conn., Sept. 29, 2010 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers, today announced that the U.S. Department of Energy (DOE) awarded approximately $2.0 million to FuelCell Energy, Inc. (FCE) to further develop and demonstrate a highly efficient and reliable method for compressing hydrogen for storage under high pressure utilizing its solid-state Electrochemical Hydrogen Compressor (EHC) technology.


Neptune Technologies & Bioressources Inc. (Nasdaq: NEPT)

Neptune Technologies & Bioressources Inc. Announces Major Breakthrough in the Omega-3 Market

Neptune Krill Oil (NKO(R)) Robust Therapeutic & Risk Reduction Health Claims Approved by Health Canada

LAVAL, Quebec, Sept. 29, 2010 (GLOBE NEWSWIRE) — Neptune Technologies & Bioressources Inc. (“Neptune”) (Nasdaq:NEPT) (TSX-V:NTB) is proud to announce that after two years of rigorous review of NKO(R) safety and clinical research data, the Canadian Minister of Health has approved exclusively for NKO(R) therapeutic and risk reduction claims, corroborating aspects of Neptune's clinical research and substantiating NKO(R) safety and effectiveness on certain prevalent chronic diseases.


Tengion, Inc. (Nasdaq: TNGN)

Tengion Presents New Data Demonstrating Functional Regeneration in a Diabetic Chronic Kidney Failure Model at the International Society for Cellular Therapy

Neo-Kidney Augment Approach Shows Durable Effect on Kidney Function and Survival

EAST NORRITON, Pa., Sept. 29 /PRNewswire/ — Tengion, Inc. (Nasdaq:TNGN) presented new research data yesterday in a podium presentation at the 2nd Annual Symposium on Stem Cell Translation of the International Society for Cellular Therapy (ISCT) in San Francisco. The presentation highlighted new results from Tengion's Neo-Kidney Augment™ development program demonstrating success with an autologous cellular therapy approach to kidney regeneration in a rodent model of obesity, diabetes and hypertension.


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