Blog - Page 3916 of 5563

FridayOct 23, 2009 11:58 am

U.S. September Sales of Existing Homes Jump More Than Expected

Sales of existing US homes climbed in September to the highest level in more than two years as first-time home buyers rushed to take advantage of a tax credit before it runs out. The National Association of Realtors reported that purchases jumped 9.4% to a 5.57 million annual rate, which was more than the 5.09 million rate in August and above economists' forecasts of a 5.35 million annual rate. First-time home buyers are taking advantage not only of low mortgage rates but also of the tax credit which gives buyers a tax credit of 10 percent of the sales price,…

FridayOct 23, 2009 11:56 am

Syntec Biofuel, Inc. (SYBF.OB) Changes Name and Expands into Natural Gas and Coal

Syntec Biofuel Inc. has announced today that it will apply to change its name to Synthenol Inc. in order to differentiate the company from a conventional biofuel business. The company's technology is based on a single process of converting syngas, generated from biomass, natural gas or coal, to ethanol, methanol, propanol and butanol. The company has identified two reasons for the name change. First, the deletion of the term 'biofuel' highlights Syntec's unique difference from companies producing solely corn, wheat and cellulosic ethanol. The company believes its range of four products poses a lower investment risk than producing a single…

FridayOct 23, 2009 9:33 am

Small Cap Voice Featured Company: Cellceutix Pharmaceuticals, Inc. (CTIX.OB)

Cellceutix Pharmaceuticals, Inc., an emerging bio-pharmaceutical company, is focused on developing small molecule therapies in areas of unmet medical need. The company’s primary efforts are in cancer and inflammatory disease. Cellceutix intends to spend most of its time initially on lead product Kevetrin, which is being developed for drug-resistant cancers. Developing the highest quality data and intellectual property to support Kevetrin, the company aims to move it as quickly as possible along the regulatory pathway. Cellceutix also has five other exciting compounds in its pipeline that will be progressed as resources become available. The company is open to new partnerships…

FridayOct 23, 2009 9:25 am

Iteris (ITI) Announces Quarterly Financial Results

Iteris, Inc., a leader in advanced traffic management technologies, today reported financial results for its fiscal quarter ending September 30, 2009. Net sales and revenues increased 1.6% over the preceding quarter, from $14.6 million to $14.9 million, primarily the result of a 20.5% increase in the sale of Roadway Sensors and a 30.5% increase in the sale of Vehicle Sensors. Growth was partially offset by a 16.9% decrease in Transportation Systems contract revenues. In addition, gross margins increased to 44.2%, compared to 38.1% for the preceding quarter, and compared to 41.3% in the same quarter of the prior fiscal year,…

FridayOct 23, 2009 9:18 am

Defense Solutions Holding Inc. (DFSH.OB) Growing into Global Power

Defense Solutions Holding Incorporated is a company that is on the rise. Founded in 2001 in Exton, Pennsylvania, Defense Solutions is known as being one of the few American companies that does business in the U.S. and Iraq. Today, the company announced that one American refinery and two Asian refinery groups have asked them to secure oil contracts in Iraq. One of the most unique aspects of Defense Solutions is how far their business has branched out. In 2005, when the company was merely four years in their history, Defense Solutions supplied 77 T-72 tanks to the Iraqi Army whom…

FridayOct 23, 2009 9:14 am

Arrayit Corp. (ARYC.OB) and the USDA Join Forces to Combat Honeybee Extinction

Arrayit Corp., a proprietary life science technology leader for disease prevention, treatment and cure, recently announced that the U.S. Department of Agriculture (USDA) in Baton Rouge, Louisiana has purchased the company’s proprietary technology to protect America’s crop plants by combating honeybee extinction. The USDA is utilizing Arrayit’s proprietary SpotLight microarray scanning technology and high-speed BioBlue computers to identify biomarkers in the honeybee genome to detect tracheal mites, the parasites that threaten the worldwide honeybee population. Honeybees currently pollinate approximately $14 billion worth of America’s crop plants, including fruits, seeds and vegetables, and the number of honeybees has recently decreased by…

FridayOct 23, 2009 8:17 am

Equinix, Inc. (EQIX) Acquires Switch and Data (SDXC) in $689 Million Deal

Equinix, Inc., provider of global data center services, reported yesterday that it has reached a definitive agreement to acquire Switch & Data Facilities Company, Inc. (NASDAQ: SDXC), a leading provider of data center and Internet exchange services, for approximately $689 million in cash and stock. The acquisition represents a significant market expansion for Equinix and will expand the company’s market presence by adding 16 new markets across North America, including additional 34 data centers in 22 markets in the U.S. and Canada. The combination of the two companies will further strengthen Equinix’s position in the global data center services market…

FridayOct 23, 2009 8:07 am

Akeena Solar Inc. (AKNS) Posts Q3 Results, Increase in Residential Solar Installations

Akeena Solar Inc., a leading designer and installer of solar power systems in the United States, yesterday posted its third-quarter results for the three months ended September 30, 2009, reflecting growth and continued demand in residential applications. The company reported net sales at $7.7 million as compared to $10.6 million for the same quarter last year, up from $5.9 million in the second quarter of 2009. The company attributes the year-on-year decline to the credit crunch and global overbearing economic conditions. However, the increase in net sales from the second quarter reflects higher residential sales. "Our third-quarter results demonstrate the…

FridayOct 23, 2009 7:34 am

A Long Look at the National Debt

Short-Term Deficits Pale in Comparison to Unfunded Liabilities on the Horizon Dwindling U.S. economic activity and accelerating government spending resulted in a record $455 billion federal budget deficit for fiscal year 2008. During the same trying period, the total national debt increased to about $10 trillion, and the forecast for 2009 was for an even larger deficit and more government borrowing. As the numbers continue to escalate, how can we put the magnitude of the current national debt in perspective? Are there risks involved when government pushes the payment of its obligations into the future? And could it be that…

FridayOct 23, 2009 7:34 am

Municipal Haste

The administration has stated that it intends to raise tax rates on people with incomes in the highest tax brackets in order to finance programs such as health-care reform. The current top federal income tax rate of 35% is low by historical standards but is scheduled to revert to its original 39.6% rate after 2010. Meanwhile, the national debt is $11 trillion and growing, and the federal government is facing more than $40 trillion in unfunded entitlement obligations for Medicare and Social Security. When you consider these staggering figures plus the hundreds of billions of dollars that the government is…

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