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QualityStocks Daily Video 03/01/2007

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Published on Sep 1, 2007

Welcome to The Daily Stock Report...brought to you by Quality Stocks.Net, performance tracked daily.

I'm Cathy Rankin and for Thursday March 1st .... we're bringing you the latest news from around the markets as well as the top movers to look out for today...
In Headline News Today...

With many believing that the stock market had gotten ahead of itself, it appears Tuesday's drubbing may have been the long-overdue consolidation that had been talked about for some time.

Even though the market was poised for a rebound before Fed Chairman Bernanke began speaking before the House Budget Committee at 10:00 ET, there's no question that his ensuing thoughts about Tuesday's sell-off helped provide the reassurance investors needed to stay the course long enough to recoup some of the market's meltdown.

After all, the spate of economic data hitting the wires before Bernanke even took the podium today was disappointing on the whole. At 8:30 ET, Q4 GDP was revised lower, as expected, checking in at 2.2%. The advance read a month earlier showed the U.S. economy grew at a 3.5% pace.

At 9:45 ET, the Chicago PMI fell to its lowest level (47.9%) in February since April 2003, serving as a reminder that the manufacturing sector is struggling. Then at 10:00 ET, new home sales in January plunged 16.6%, the biggest drop in 13 years, adding insult to the ongoing injury that is housing.

Be that as it may, Bernanke surprisingly answered questions pertaining to yesterday's plunge and did so with a slew of remarks that helped participants look past the day's disappointing economic reports, rising interest rates and higher energy prices. Nine out of 10 sectors posting gains.

Bernanke reassured investors, saying "there didn't seem to be any single trigger'' for Tuesday's sell-off. He also noted that financials markets "seem to be working well" and there has been "no material change" in the Fed's expectation for the U.S. economy. In fact, he said today's downward revision to Q4 GDP is "more consistent with our overall view of the economy'' than the original report and that there's a "reasonable possibility" that the economy will show signs of strengthening as the year progresses.

In our Small Cap Headlines today...

Heritage Capital Credit Corporation announced yesterday the company has secured an institutional investor to purchase up to $300 million in BCLOC Trust Notes.

Upon completion of the $300 million funding, scheduled to begin on March 15, 2007. The Company anticipates pre-tax earnings of $0.085 per share by the end of the third calendar quarter.

Heritage is a holding company, which through its subsidiary; Independent Capital Credit Corporation is engaged in the commercial property lending business as well as in other financial services related to the real estate industry.

Previously at $0.03 cents a share Heritage opens today up 43% to $0.05 cents a share with over 5 Million Shares traded by yesterdays bell.

Global Resource Corp announced today that performance tests to convert bituminous coal into kerosene without using any additives. The process was invented in 1923 but has never been completed without additives and a required heat source, which is now replaced by GBRC's patent-pending microwave technology.

By not using heat or additives, the conversion becomes safer and more environmentally friendly.
Previously at $1.33 a share Global opens today up 33% to $1.78 a share.

BlueFire Ethanol, Inc. announced the company has been awarded up to $40 million from the U.S. Department of Energy's (DOE) cellulosic ethanol grant program to develop a solid waste biorefinery project at a landfill in Southern California.

The S.C. Biorefinery Project will turn green waste and wood residues at landfills into about 19 million gallons of fuel grade ethanol per year the project will also produce and sell lignin, gypsum, and yeast.

Previously at $5.00 a share, Blue Fire opens today up 32% or $6.60 a share.

Stay tuned right here to Quality Stocks Daily for your current updates to this hectic trading day... And 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 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.

Please see Disclaimer on site: http://Disclaimer.QualityStocks.net

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