U.S. stocks and indices fell across the board today as the 10-year Treasury note rose to a five-year high. With so much concern surrounding the stability of the market because of the rise in the 10-year note, the cost of borrowing will increase for many companies. Therefore, many concerned investors caused there to be more losers than gainers in today’s market.After a positive press release yesterday, Eworld Interactive (OTCBB: EWIN) closed today at a price of 40 cents, down 29 cents, or 43 percent. The company is already 20 times over capacity for its closed beta test game “BattleZone” and is growing by the day. Lawrence Lee of Eworld stated in a press release, “This is the best closed-beta performance of all games launched this year in China and an excellent number compared to so many great games launched in the past.”
Essential Innovations Technology Corp. (OTCBB: ESIV) shares fell 3 cents, or 36 percent, to 5 cents. After starting the week off strong at a close of 8 cents yesterday, Essential Innovations wasn’t able to maintain its run surrounding the skepticism in the marketplace. Earlier today Essential Innovations released a 10QSB stating details about its current position. Things were looking bleak with some key financials looking down compared to the previous quarter that furthered the doubt in the market around the 10-year notes rise.
Although most companies’ share prices fell today, Generex Biotechnology Corp. (NASDAQ: GNBT) closed today at a price of $1.80 up 54 cents, or 43 percent on about 19 million in volume. New York-based Investment Bank, Rodman & Renshaw, initiated coverage of the company with a “Market Outperform” rating. They adjusted the rating to outperform by placing an 18-month target price of $6.00 for the biotechnology company. Generex has created an oral insulin, Oral-lyn, that is supposed to work twice as fast as the injected insulin and doesn’t leak into the lungs which could damage the tissue.