By: Dylan Sikes - AllPennyStocks.com News

Tuesday, June 14, 2016

Global equities fell sharply for a second successive day as concerns over Britain’s potential exit from the European Union (EU) continue to spook the market. Investors are also cautious as the Federal Reserve kicked off its two-day monetary policy meeting a short while ago. On June 23rd, the UK will vote on whether to stay in the EU or leave. The Leave campaign has been strengthening since last week. Recent polls have shown an edge for the Leave campaign, which has led to panic in the markets. On Monday, European equities fell sharply. Markets in North America also tumbled, with all three major indexes in the U.S. finishing the day in red.

Earlier today, European markets once again edged lower. U.S. equities are once again tracking losses in the global markets. At last check, the S&P 500 was down 0.58%, with all sectors in the benchmark index showing a loss. U.S. markets have also come under pressure ahead of the Fed’s monetary policy statement, which will be released on Wednesday.

While the broader market is struggling, Towerstream Corporation (NASDAQ:TWER) has bucked the trend. Based in Middletown, Raleigh, Towerstream is a provider of fixed wireless services to businesses in more than 10 urban markets across the U.S. The company operates through Fixed Wireless Services segment.

At last check, TWER shares were trading 28.39% higher at $0.180 on volume of 776,857, which is above the daily average volume of 649,106. TWER hit an intra-day high of $0.21.

TWER shares are surging in trading today after the company provided guidance for its second quarter ending June 30, 2016. TWER noted that 52% of all its On-Net contracts in April and May were secondary customer contracts which are the company’s most profitable offering. The company further noted that its average revenue per On-Net contact was up 35% from April to May. In addition, TWER noted that sales cycle to installation in active On-Net buildings has shortened significantly from months to weeks.

Arthur Giftakis, COO at Towerstream Corporation, said that the company continues to grow its On-Net customer base, signing up multiple customers in buildings lit with their high-speed Internet Services. Giftakis further said that the secondary customers in existing On-Net buildings can be turned up in days or even hours when necessary.

Philip Urso, CEO at Towerstream Corporation, added that On-Net is a win for the company and the customer.

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