Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily. I'm Cathy Rankin and for Wednesday, January 24th.... we're bringing you the latest news from around the markets as well as the top movers to look out for today... In Our Headline News... Buyers returned Tuesday following Monday's broad-based decline amid some renewed optimism about the overall earnings picture for Q4. However, market gains were modest as a late-day surge in oil prices took some steam out of intraday recovery efforts, especially on the tech-heavy Nasdaq. However, even though only three sectors closed lower, the losing trio of Financials, Health Care and Technology are also the most influential of the 10 economic sectors. Since they collectively account for nearly 50% of the total weighting of the S&P 500, the absence of their leadership kept market gains at a minimum. With regard to oil prices, crude for March delivery closed just above $55/bbl, recording its largest one-day increase since September 2005 following reports that President Bush will propose doubling the size of the Strategic Petroleum Reserve. While oil's surge helped Energy more than halve its year-to-date 4.6% decline, the sector's 2.4% advance was also attributed to the commodity's potential to crimp spending, exacerbating the continued rotation out of Technology. In our small cap headlines today...Our quality Stocks Spotlight Company this week is... Financial Media Group Financial Media Group, Inc. announced revenues and earnings for the first quarter ending November 30increased by 22% to $1.6 Million compared to $1.3 Million for the same period in fiscal year 2005. The increased revenue was primarily a result of the Company's continued efforts to expand its marketing services gaining new clientele. Financial Media Group, Inc. engages in financial brand-building with a focus on the development of tools, education, and financial social communities for the retail investor and publicly traded companies. Financial Media opens their trading day at $1.68 a share. American Security Resources Corporation announced they are in the process of developing a technology to formulate hydrogen that will change the economics of producing hydrogen sufficient to enable the hydrogen economy. The current cost of producing a kilogram of hydrogen was around $7 to $8. Using this new technology, the cost of producing hydrogen could drop below $2 per kg, which is the DOE threshold to make hydrogen competitive with established energy sources. American Security Resources Corporation engages in the development of advanced hydrogen fuel cells based on its proprietary intellectual property. Its HydraStax fuel cell is a proprietary technology that improves useful life of fuel cell membranes. Previously at $3 cents a share ASR opens today up 45% or 4 cents a share with over 6 Million shares traded by Tuesdays close. And that's it for the news makers... Be sure to join us every market day for the latest commentary... on small cap to large cap and everything in between brought to you by Quality Stocks. Net. Also be sure to watch for "The QualityStocks Daily Newsletter" available each trading day through QualityStocks.Net Thank you for tuning in, I'm Cathy Rankin. Have a great day and we'll see you next week...right here on the daily report.
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Added: Sep 24, 2007 |
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