(Source: MARKETWIRE)
Market Pulse is pleased to introduce our featured stock, MagneGas Corporation (OTCBB: MNGA), to the investment community! MagneGas Corporation is new to Market Pulse and is poised to become a significant player in the $680 million metal cutting market! MagneGas Corporation just had excellent news out in a press release before today's opening bell announcing that it has received its most significant independent media attention to date in the form of a feature article in Welding Journal -- perhaps the metal working industry's most respected publication and one with more than 55,000 loyal subscribers! This could be great news for investors! Other notable stocks that should be closely watched due to existing fundamental and technical factors affecting each company include:
Oncothyreon Inc. (NASDAQ: ONTY) : Market Outperform
Kodiak Energy Inc. (OTCBB: KDKN) : Attractive
Brocade Communications Systems Inc. (NASDAQ: BRCD) : Market Outperform
Stock Pick Meanings
These stock picks are the investment opinions of MP's editor and reflect MP's belief regarding the potential price movement over the next one to four weeks of trading of each of the stocks presented. This analysis is done from a technical and fundamental perspective.
After Monday's Bell Market Commentary
On Monday, a slower than expected contraction of the nation's manufacturing activity sent the markets soaring to a sharply higher close. A report from the Institute for Supply Management, a trade group of purchasing executives, signaled U.S. manufacturing activity should increase next month for the first time since January 2008 The Commerce Department said construction spending rose rather than fell in June as analysts had expected. The dollar fell to its lowest points since last fall against the euro, pound and other currencies. The yield on the 10-year Treasury note surged to 3.64 percent from 3.48 percent. Light, sweet crude soared $2.13 to settle at $71.58 a barrel. News that manufacturing in China and Europe is expanding pushed commodity prices higher. The Dow rose for the third day, advancing 114.95, or 1.3 percent, to close at 9,286.56. The Nasdaq composite index rose 30.11, or 1.5 percent, to close at 2,008.61, its first close above 2,000 since October. The S&P 500 index rose 15.15, or 1.5 percent, to close at 1,002.63, its first move above 1,000 since Nov. 4. The Russell 2000 index rose 9.07, or 1.6 percent, to close at 565.78.
