Chip Cutter, AP Business Writer
Banking, other deals drive stock indexes higher
Latest cross-border banking acquisition lifts stock prices; Adobe soars after raising forecast
NEW YORK (AP) — Corporate deals are driving stocks higher Tuesday.
Toronto-Dominion Bank is buying Chrysler Financial, the automaker's old lending arm, from Cerberus Capital Management LP for $6.3 billion. It was the latest example of a relatively healthy Canadian bank buying a U.S. lender battered by the financial crisis. Just four days ago Bank of Montreal bought Milwaukee-based bank Marshall & Ilsley Corp. for $4.1 billion.
Dutch chemicals company Royal DSM NV also said Tuesday that it plans to buy U.S. biotech firm Martek Biosciences Corp. for $1.09 billion.
Corporate mergers have picked up strongly this year. That, along with signs of an improving economy and a tax cut package passed last week, have helped drive stocks higher. The Standard & Poor's 500 index has jumped 6.1 percent this month and is up 12.3 percent this year.
Yesterday's Top Performing Small Cap Stock:
Madison Ave. Media, Inc. KHZM
Madison Ave. Media, Inc. was a SmallCapVoice.com top performer closing up over 5% on trading volume of 131,130 shares.
Madison Ave. Media is an advanced digital media company that offers a differentiated and competitive array of marketing technologies and services to clients in multiple industries. Their technology and services bring advanced, highly productive marketing, communications and advertising solutions to clients. And their services address the complete digital media value chain, combining the best practices of traditional media support with the power of technology.
Today's SmallCapVoice.com Hot Stock to Watch:
Casey Container Corp. CSEY
Headquartered in Scottsdale, Arizona, Casey Container is engaged in the design and custom manufacture of biodegradable PET, HDPE and other plastic polymer preforms, bottles and containers for use in the bottled water, beverage and consumer products industries. The Company is committed to developing container products that meet clients' demands while addressing environmental issues concerning proliferation of plastic pollution. The Company offers its biodegradable plastic packaging solutions using the breakthrough science of the EcoPure® additive and technology.
Other Small Cap News
China Armco Metals, Inc. (NYSE Amex: CNAM)
China Armco Metals Provides Update on Metal Recycling Business
SAN MATEO, CA–(Marketwire – 12/21/10) – China Armco Metals, Inc. CNAM (“China Armco” or the “Company”), a distributor of imported metal ore and metal recycler with a new state-of-the-art scrap metal recycling facility in China, today announced it expects the Company to produce and sell approximately 25,500 tons of recycled steel with an aggregate value of approximately $12 million in the fourth quarter of 2010.
Ivanhoe Energy Inc. IVAN
Ivanhoe Energy announces significant natural gas discovery at Yixin-2 well on Zitong Block in China
Initial flow rates of up to 13 million cubic feet per day recorded
CALGARY, Dec. 21 /CNW/ – David Dyck, President and Chief Operating Officer of Ivanhoe Energy Inc. IEIVAN, Robert Friedland, Co-Chairman of Ivanhoe Energy's China-focused subsidiary, Sunwing Energy Ltd., and Gerry Moench, President of Sunwing, today announced a significant gas discovery at Sunwing's Yixin-2 well in Southwest China.
Solitario Exploration & Royalty Corp. (NYSE Amex: XPL)
Solitario Exploration & Royalty Reports Solid Development and Exploration Progress on Its Bongará Zinc Project, Peru
DENVER–(BUSINESS WIRE)– Solitario Exploration & Royalty Corp. (NYSE Amex: XPL; TSX: SLR) announced solid progress on development and exploration activities on its high-grade Bongará zinc project in Peru. Included in these activities are access road construction, underground tunneling to further define mineralization and surface exploration drilling. The program is being managed and entirely funded by Solitario's joint venture partner Votorantim Metais (“Votorantim”). The Bongará project hosts the high-grade Florida Canyon zinc deposit where zinc mineralization has been intersected over a four square kilometer area.
FieldPoint Petroleum Corporation (NYSE Amex: FPP)
FieldPoint Petroleum Reports Increase in Borrowing Base
AUSTIN, Texas, Dec. 21, 2010 /PRNewswire-FirstCall/ — FieldPoint Petroleum Corporation (NYSE Amex: FPP) announced today that the borrowing base available to the company under its bank line of credit has been increased to $10.5 million. This increase was approved following a routine mid-year engineering review of the line by Citibank.
Hemispherx Biopharma, Inc. (NYSE Amex: HEB)
Hemispherx Biopharma Licenses Alferon N Injection(R) to GP Pharm in Latin America
PHILADELPHIA, Dec. 20, 2010 (GLOBE NEWSWIRE) — Hemispherx Biopharma, Inc. (NYSE Amex:HEB) (the “Company” or “Hemispherx”) announced that the Company has entered into an agreement with GP Pharm Latinoamerica (“GP Pharm”), an affiliate company of Spanish GP Pharm SA (www.gp-pharm.com) for the marketing of Alferon N Injection(R), the Company's natural interferon injection product which has been FDA approved for a category of sexually transmitted diseases in Argentina with an option for other Latin American countries upon receipt of those respective countries' regulatory approval for any use of the product.
LodgeNet Healthcare LNET
LodgeNet Healthcare, MDM Healthcare and Child Health Corporation of America Reach Agreement
Deal Leverages Premier Membership, Provides Children's Hospitals With Comprehensive Education and Patient Satisfaction Solution
SIOUX FALLS, S.D., Dec. 20, 2010 /PRNewswire/ — LodgeNet Healthcare, the leader in interactive patient television, and MDM Healthcare, the country's largest distributor of healthcare televisions, today announced an agreement with Child Health Corporation of America (CHCA). CHCA represents over 40 leading children's hospitals in North America. Under the agreement, participating CHCA owner hospitals will be offered LodgeNet Healthcare's eSuite™ interactive television solutions, which deliver comprehensive education and patient satisfaction solutions at a low total cost of ownership.
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