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Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com (UOMO, MRM)
Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com (UOMO, MRM)
About this update from Micromem Technologies Inc.
[{"type":"text","content":"\nDaily Small Cap Market News and Stock Highlights from SmallCapVoice.com (UOMO, MRM)\n\n\n May 20, 2009 (Baystreet.ca) -- Stocks are up sharply as BofA raises capital\nStocks rose sharply Wednesday in response to news that the bank raised $13.47 billion through the sale of 1.25 billion shares. Financial stocks again led the market, lifting major stock indicators more than 1 percent and the Dow Jones industrials about 100 points.\nThe stock sale put Bank of America more than halfway toward raising the $33.9 billion in capital the government is requiring as a result of its stress test of 19 big banks. The company already raised $7.3 billion from the sale of a business in Asia since the government issued its report cards for banks on May 7.\nMeanwhile, regional bank Regions Financial Corp. said Wednesday it plans to raise $1.25 billion in capital to meet the government's requirement.\nGetting banks on more stable footing could boost lending and help create a sustained recovery in the economy. Analysts said it is a welcome sign of stability in the stock market that banks have been able to raise capital by selling stock.\nIn midmorning trading, the Dow rose 102.26, or 1.2 percent, to 8,577.11. The Standard & Poor's 500 index advanced 13.34, or 1.1 percent, to 921.47, and the Nasdaq composite index rose 25.95, or 1.5 percent, to 1,760.49.\nYesterday's Top Performing Small Cap Stocks:UOMO Media Inc. (OTC BB: UOMO) was a top performer moving up over 11% on trading volume of 12,701,659 shares.\nUOMO Media Inc., a multi-channel entertainment company, celebrates the success of Terius \"The-Dream\" Nash's second album \"Love vs. Money\". The album co-produced by Tricky Stewart sold over 200,000 copies in its first two weeks and is quickly approaching Gold status. It debuted at #1 on the 'Billboard R&B/Rap Album Chart'.\n\"The-Dream and Tricky Stewart have become the catalyst for change in music,\" said Mr. Camara Alford, CEO and Chairman, UOMO Media Inc. \"Every track on this album is a potential hit.\"\nThe-Dream and Tricky Stewart of Redzone Entertainment, have worked with top music artists including Rihanna, Usher, Mariah Carey, Madonna, Britney Spears, J. Holiday, Ciara and LL Cool J. In 2008, Redzone Entertainment signed an exclusive international management agreement with UOMO Media Inc.\nMerrimac Industries, Inc. (AMEX: MRM) was a t...