Axion Power to Hold Further Meetings with LCB International, Shares Up Over 20% On News

Axion Power to Hold Further Meetings with LCB International, Shares Up Over 20% On News

By: Dylan Sikes - AllPennyStocks.com News

Monday, June 6, 2016

Friday’s weak jobs report has reduced the probability of a summer rate hike, although Fed officials continue to debate upon their “next few months” forecast for a likely 25 basis point rise. The jobs report released on Friday showed that the U.S. economy added just 38,000 jobs in the month of May, well below the consensus forecast. Ahead of the jobs report there was speculation that the Fed would hike rates in the summer itself, given the comments from some Fed officials including Janet Yellen.


The weak jobs report may have delayed a rate hike, which is positive for risk assets such as equities. Not surprisingly, U.S. equities are up sharply in trading today along with commodities. At last check, the S&P 500 was up more than 0.5%. All ten sectors in the S&P 500 were higher on Monday, led by the Basic Materials sector.

In the OTC market, one of the major gainers in trading today is Axion Power International Inc. (OTCQB:AXPW). Based in New Castle, Pennsylvania, Axion Power is engaged in the development, design, manufacturing and sale of energy storage devices, components and systems that are based on PbC technology. The Company's PbC batteries and battery components are manufactured primarily through the use of activated carbon for the battery's negative electrode. Its products have application in a range of energy system storage functions.

At last check, AXPW shares were trading 21.43% higher at $0.0170 on volume of 6.94 million, which is well above the daily average volume of 4.66 million.

AXPW shares are gaining momentum in trading today after the company announced further meetings with LCB International, Inc. a BVI investment company, to renew negotiations towards a refined and simplified technology licensing agreement to take the company’s patented PbC Technology to China.

Following the successful set of meetings in China, Richard Bogan, CEO at Axion Power, has invited his Chinese counterparts to attend a reciprocal set of meetings in New Castle, which are tentatively set for the third week in June, pending travel authority granted to the Chinese executives by the Chinese Government.

Bogan said that the meetings were successful and lay a groundwork and path forward on a renewed structure of the joint effort to commercialize the PbC®Technology in China and set the basis for continued work at meetings to be held in New Castle as early as the third week in June.

Copyright © 2016 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Unexpected Copper Concentration Sends Shares of this Junior Miner Higher
Biotech Steals The Show Following Pre-Clinical Data Announcement
Micro Cap Up Big Following Acquisition Rumor
Most Popular
FREE Newsletter


Back to Top