Stephen Bernard, AP Business Writer
Stocks rise on Chinese, US manufacturing growth
Stocks edge higher to open quarter as manufacturing activity rises as slower pace in September
NEW YORK (AP) — Stocks are pulling back from their morning highs after a key reading on manufacturing showed the pace of expansion in the sector slowed last month.
The Institute for Supply Management said its manufacturing index fell to 54.4 last month from 56.3 a month earlier, just below what analysts expected.
The report follows similar news that manufacturing activity in China rose sharply in September. The Chinese report had lifted stocks at the opening of trading.
The Dow Jones industrial average is up 26, or 0.2 percent, at 10,814. The S&P 500 is up 4, or 0.3 percent, at 1,145, while the Nasdaq composite is up 7, or 0.3 percent, at 2,376.
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Yesterday’s Top Performing Small Cap Stock:
Diamond Ranch Foods, Ltd. (OTC:DRFO)
Diamond Ranch Foods, Ltd. was a SmallCapVoice.com top performer closing up over 11% on a trading volume of 8,140 shares.
Diamond Ranch Foods is a highly strategic food group distributor and processor of a broad selection of the finest quality meats, poultry, seafood, and food service items, including private label and custom cuts, which can be prepared fresh, frozen, or vacuum-packed. The Company operates a fleet of refrigerated trucks for delivery throughout the New York metropolitan area and ships coast to coast via common carrier.
The Company’s USDA-inspected facility is located in the Hunts Point Cooperative Market (Bronx, New York), which is the largest food distribution center in the world, and boasts a highly diversified customer base throughout the tri-state region, including; supermarket chains, restaurants, hotels, deli/catering operators, institutions and industry suppliers.
Today’s SmallCapVoice.com Hot Stock to Watch:
Suffer (OTC:ENTK)
SUFFER Apparel Company Update
LAS VEGAS, Sept. 30, 2010 (GLOBE NEWSWIRE) — SUFFER Apparel (OTCMKTS: ENTK) today announced that Frank Mir’s win at UFC 119 has been boosting sales and helped in expanding the distribution efforts of the company.
SUFFER received a lot of exposure during the entire fight that has resulted in increased traffic and sales for the website, as well as additional interest among retailers.
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Other Small-Cap News
Celsion Corporation (NASDAQ:CLSN)
Data Monitoring Committee Unanimously Recommends Continuation of Celsion’s Phase III ThermoDox® HEAT Study to Treat Primary Liver Cancer
Two-thirds of the final study population assessed for safety and trial continuation
COLUMBIA, Md., Sept. 30 /PRNewswire-FirstCall/ — Celsion Corporation (Nasdaq: CLSN), a leading oncology drug development company, announced that after reviewing data from 401 patients enrolled in its pivotal Phase III ThermoDox ® clinical study (the HEAT study) for primary liver cancer, the Data Monitoring Committee (DMC) has unanimously recommended that the trial continue to enroll patients with the goal of reaching the 600 patients required to complete the study. The Company previously announced that the U.S. Food and Drug Administration (FDA) designated the HEAT study of its investigational drug, ThermoDox®, in combination with radiofrequency ablation (RFA), as a Fast Track Development Program.
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Good Times Restaurants Inc. (NASDAQ:GTIM)
Good Times Restaurants Inc. Reports Improved Sales Trends
GOLDEN, Colo.–(BUSINESS WIRE)–Good Times Restaurants Inc. (NASDAQ:GTIM) today announced that its same-store sales declines have reversed to a positive trend, from a decline of 1.7% in July to increases of +.4% in August and approximately +7% in September. Commenting on the recent same-store sales trends, President & CEO Boyd Hoback said, “Our recent turnaround in sales trends reflects traction with consumers around several menu initiatives over the last six months including establishing our long term value proposition around $2.89 Craver Combos, introducing Fresh Cut Fries and Hand Spun Custard Shakes and other product enhancements to improve and differentiate Good Times from the mainstream fast food pack.
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Mexco Energy Corporation (AMEX:MXC)
Mexco Energy Corporation Announces Acquisition
MIDLAND, Texas, Sept. 30 /PRNewswire-FirstCall/ — On September 30, 2010, Mexco Energy Corporation (Amex: MXC) (“Mexco or the “Company”) purchased all of the outstanding stock of a company which owns royalties producing primarily natural gas. The cash purchase price of $478,000 was funded from the Company’s $5.0 million bank credit facility. This purchase, effective October 1, 2010, represents an addition of royalties free of drilling, development and operating expenses.
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Intellicheck Mobilisa, Inc. (AMEX:IDN)
U.S. Navy Awards $500,000 Contract to Intellicheck Mobilisa, Inc. for Port Security
PORT TOWNSEND, Wash.–(BUSINESS WIRE)–Intellicheck Mobilisa, Inc. (AMEX: IDN), a global leader in identity technology, access control and wireless security systems, announced today that the U.S. Navy added approximately $500,000 of additional R&D funding for the Company’s Floating Area Network (FAN) technology and Littoral Sensor Grid (LSG) wireless security buoy project.
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Platinum Group Metals Ltd. (AMEX:PLG)
Platinum Group Metals Update
VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA–(Marketwire – 09/30/10) – Platinum Group Metals Ltd. (TSX: PTM)(AMEX: PLG) (“Platinum Group”) announces an updated resource estimate for Project 3 of the Western Bushveld Joint Venture. The new resource calculation estimates 1.938 million 4E ounces (platinum, palladium, rhodium and gold) in the indicated category and 21,000 4E ounces in the inferred category.
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Intellicheck Mobilisa, Inc. (NYSE:IDN)
Port of Houston Buys Intellicheck Mobilisa TWIC Readers
PORT TOWNSEND, Wash.–(BUSINESS WIRE)– Intellicheck Mobilisa, Inc. (AMEX:IDN), a global leader in access control and wireless security systems announced today that the Port of Houston, Texas purchased the company’s TWIC readers and began an official pilot test using this new technology.
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EXFO Inc. (NASDAQ:EXFO)
EXFO Sells Life Sciences and Industrial Division for US$24.3 Million
QUEBEC CITY, Oct. 1, 2010 (GLOBE NEWSWIRE) — EXFO Inc. (Nasdaq: EXFO) (TSX:EXF) announced today that it has sold its Life Sciences and Industrial Division to The Riverside Company, a global private equity firm, for US$24.3 million in cash. The purchase price is subject to adjustments for minimum working capital requirements.
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AdCare Health Systems, Inc. (AMEX:ADK)
AdCare Health Systems Acquires Two Alabama Nursing Homes
Acquisition Increases AdCare’s Annualized Revenue Run-Rate by $18 Million
SPRINGFIELD, OH–(Marketwire – 10/01/10) – AdCare Health Systems, Inc. (AMEX: ADK), a recognized innovator in senior living and health care facility management, has closed the previously announced purchase agreement for two privately-held nursing homes in Gladsden, Alabama for $18.5 million.
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