Tag - NASDAQGS:ISLE

Macerich REIT (Nasdaq:MAC), CTC Media Inc. (Nasdaq:CTCM) and Isle of Capri Casinos Inc. (Nasdaq:ISLE) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ashland Inc. (Nasdaq:ASH), Asset Acceptance Capital Corp. (Nasdaq:AACC), Canadian Solar Inc. (Nasdaq:CSIQ), C&F  Financial Corp. (Nasdaq:CFFI), Middleburg Financial Corp. (Nasdaq:MBRG) and M I Homes Inc. (Nasdaq:MHO).

Sciele Pharma Inc. (Nasdaq:SCRX), Isle of Capri Casinos Inc. (Nasdaq:ISLE) and Ameristar Casinos Inc. (Nasdaq:ASCA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Odyssey Healthcare Inc. (Nasdaq:ODSY), Progenics Pharmaceuticals Inc. (Nasdaq:PGNX), Avid Technology Inc. (Nasdaq:AVID), Salix Pharmaceuticals Ltd. (Nasdaq:SLXP), Morgans Hotel Group Co. (Nasdaq:MHGC) and CV Therapeutics Inc. (Nasdaq:CVTX).

Here are the most actively traded companies among small caps:

Isle of Capri Casinos (Nasdaq:ISLE) CEO James Perry said the economic situation is volatile for the casino operator.

“Despite that uncertainty, while we see some softness in the casual customer, we are seeing resilience in the core customer,” Perry said. “The core customers who gamble are maintaining their profiles. They may have one less visit per month but we are still seeing a solid database business, which is reminiscent of my experience during the early ’90s.”

Perry said several interested parties who are interested in buying Isle of Capri’s U.K. operations have contacted the Saint Louis-based company. The company has retained UBS to advise the company on its options, he said.

Before the opening, Isle of Capri reported a fourth-quarter loss of $51.3 million, or $1.66 per share, versus a loss of $14.6 million, or $0.48 per share, a year earlier. On an adjusted basis, Isle of Capri lost $0.06 per share. Wall Street analysts expected a loss of $0.12 per share.

Quarterly revenue increased 15% to $350.1 million from $304.7 million a . . .

Small-cap stocks briefly opened higher after the opening, but have steadily slumped in midday and afternoon trading. Bearish sentiments were fueled by the Commerce Department’s report that factory orders showed the weakest performance in three months during May and the continuing ascent of crude oil prices. The National Employment report also added to gloomy news, with payrolls down by 79,000. At 2:27 p.m. ET, the Russell 2000 (NYSE:IWM) was down 12.55, or 1.81%, to 679.04.

During May, factory orders rose by 0.6%, which met Wall Street’s expectation but gave nervous investors no reasons to buy. The Commerce Department’s report showed waning demand for steel, heavy machinery and autos. Soaring fuel prices, weak economic growth and the credit crisis continue to keep investors jittery as long-term prospects remain uncertain.

Crude oil prices gushed higher in afternoon trading to $142.64 a barrel in recent trading. The U.S. dollar is down against the euro and flat against the yen.

The ADP National Employment Report showed a decline of 79,000 in payrolls, which marked the largest decline since November 2002. In addition, ADP revised last month’s gain downward to 25,000 from 40,000. When the ADP report was released about 8:15 a.m. ET, the news sparked a bounce in Treasury futures, trimmed overnight gains in the dollar against the yen and sparked a pullback in overnight gains in stock index futures. The weak ADP figures were troubling ahead of the big monthly employment report slated for Thursday morning.

Analysts at Goldman Sachs cautioned that the correlation between the ADP report and the actual Labor Department monthly employment release has not been that reliable of late. Goldman said that from January 2000 through October 2007, the ADP served up a much tighter projection of the jobs report, but since then the standard . . .

The Russell 2000 (NYSE: IWM) futures are rising and the small-cap index will likely open in the green.

Small-cap stocks are set for a bullish opening on news that General Electric Co. (NYSE: GE) reported a fourth-quarter profit from continuing operations of $6.82 billion, or $0.68 per share, compared with $5.95 billion, or $0.58 per share, a year earlier. The result matches analysts’ expectations.

Investors will be paying attention to the Reuters/University of Michigan preliminary consumer sentiment index for January, which will be released at 10 a.m. ET. The index measures consumers’ willingness to spend money. Economists are expecting to see a small decline.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Comtech Group, Inc. (COGO), up 10%.
• MedCath Corp. (MDTH), up 9%.
• Globecomm Systems, Inc. (GCOM), up 9%.

Biggest percentage losers:

• Seattle Genetics, Inc. (SGEN), down 5% on news of a 10 million share public offering priced at $9 a share.
• Monarch Casino & Resort, Inc. (MCRI), down 4%.
• Isle of Capri Casinos, Inc. (ISLE), down 2%.

The Russell 2000 (NYSE: IWM) futures are up slightly and the small-cap index will likely open in positive territory.

Today will be a quiet day, with little news on the economic or corporate front. The Mortgage Bankers Association will reveal numbers on mortgage application volume for the week ended Jan. 4, but that measure typically gets little reaction from investors.

Overseas, the United Kingdom’s FTSE 100 index fell 1.4%, while Japan’s Nikkei 225 index climbed 0.5%.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Epicor Software Corp. (EPIC), up 15% on news it forecast fourth-quarter revenue above expectations.
• Triad Guaranty Inc. (TGIC), up 12%.
• Isle of Capri Casinos, Inc. (ISLE), up 12%.

Biggest percentage losers:

• InfoSpace, Inc. (INSP), down 49%.
• Premier Exhibitions, Inc. (PRXI), down 31%.
• Spectrum Control, Inc. (SPEC), down 15% on news that fourth-quarter earnings were below analysts’ expectations.

Isle of Capri Casinos, Inc. (Nasdaq: ISLE) reported a wider loss from a year ago for its fiscal 2008 second quarter. 

For the second fiscal quarter ended Oct. 28, the Saint Louis, Mo.-based company recorded a loss from continuing operations for the quarter of $24.6 million, or $0.80 per diluted share, widening from a loss from continuing operations of $4.2 million, or $0.14 per diluted share, for the second quarter of fiscal 2007. The consensus of twelve analysts surveyed by Thomson Financial was for a loss of $0.03 per share.

Results for second quarter included a pre-tax charge of $6.5 million related to costs previously capitalized in connection with a proposed project in west Harrison County, Mississippi, and proposed expansions in Davenport, Iowa, Kansas City and Missouri, which negatively impacted the small cap’s results.

Additionally, the company’s second-quarter results were impacted by significant non-recurring charges. Such charges stemmed from the retirement of the company’s 9% senior subordinated notes as part of refinancing completed in July 2007.

The company said it began conducting a strategic review of its existing portfolio and growth opportunities.

Isle of Capri Casinos reported a 14.6% increase in net revenues to $278.8 million, compared with net revenues of $243.2 million for the same quarter in fiscal 2007. Eight analysts were on average expecting revenues of $304.95 million.

Shares of Isle of Capri Casinos (ISLE) lost $0.53, or 3.20%, to $16.01 at 1:14 p.m. Shares of Isle of Capri Casinos have been trading in the range of $15.46 to $31.82 for the past 52 weeks.

During a midday conference call, executives of casino operator Isle of Capri Casinos (Nasdaq: ISLE) said the company is still recovering from hurricanes, and that business remains unpredictable.

“Due to the continuing lack of predictability of our operating results in several of our properties caused by changing competitive landscapes and the ramping up of several new properties, we are not giving guidance at this time,” executive vice president Allan Solomon said during the call.

After Thursday’s closing bell, Isle of Capri said its first-quarter loss was $7.1 million, or $0.23 a share, below Wall Street expectations of earnings of $0.04 a share and below a profit of $5.3 million, or $0.17 a share, in the year-ago period. The firm’s revenue for the period ended July 29 was $278.5 million, below analyst projections of $301.4 million but above revenue of $274 million in the same quarter of fiscal 2006.

Total operating and other expenses during the quarter increased to $260.5 million, from $242.6 million a year earlier.

The firm’s Biloxi, Miss., casino saw quarterly revenue decrease to $26.8 million, from $52.9 million a year earlier. The reopening of a competitor’s casinos after hurricane damage has negatively impacted the Biloxi casino and Isle of Capri has to spend additional marketing dollars in order to drive business, Bob Griffin, senior vice president of operations, said on the call. The closing of a nearby bridge also impeded revenue, but Griffin said two lanes of the bridge will be reopened in mid-November.