Tag - NASDAQGS:QADI

Small-cap stocks opened lower, pulled down when a fresh batch of economic reports failed to generate any upside surprises. The decline was short-lived, though, as prices pushed slightly into the green within 15 minutes of the opening. A small tug of war between those disappointed by the morning reports and those upbeat by an overnight drop in crude oil and rising retailer shares seemed to be underway. At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was up 0.67, or 0.09%, at 739.12.

Economic data on weekly claims and GDP came out before the opening today and while neither report was strikingly bad, they also didn’t carry any bullish news to sustain a mild overnight rise in stocks. The weekly claims report attracted the most attention because the number came in above the forecast at 372,000 versus 370,000 claims, and last week’s figure was revised upward by 3,000 to 368,000. The GDP report hit the median forecast for a rise to 0.9%, but didn’t carry the same kind of power it did last month when a mild rise in GDP was cause for celebration for stocks.

“The bottom line is that economic growth remained very weak at the beginning of the year. These data are ancient history, as Q2 is nearly two-thirds over. Data released so far for April and May suggest that Q2 growth will also be very soft and perhaps even negative. There is still a definite risk for an outright contraction in Q2,” Steven Wood, chief economist with Insight Economics, said in an email.

As for the weekly claims report, Wood said that the four-week moving average is settling in near 370,000, up about 45,000 than the average last year. He said that continuing claims, which are inversely related to job creation, jumped this week and have been rising steadily for almost two years, which suggests that hiring has weakened. The claims data take on a little extra punch this week because next Friday serves up the monthly employment report, and today’s data indicates another . . .

Shares of QAD Inc. (Nasdaq: QADI) are edging lower in after-market trading after the provider of enterprise software and services reported EPS for its fiscal 2008 second quarter below the Street.

For the three months ended July 31, the Carpinteria, Calif.-based company recorded net income of $0.5 million, or $0.02 per diluted share, below the $0.05 per share three analysts polled by Thomson Financial were expecting. For the second quarter of 2007, the company booked net income of $1.1 million, or $0.03 per diluted share.

Total revenue increased 10% to $64.2 million in the second quarter of fiscal 2008 from $58.4 million in the same period last year. Analysts were expecting revenue of $61.45 million on average.

Shares of QAD slid $0.37, or 4.53%, to $7.80 in after-hours trading Thursday.

Trump Entertainment Resorts (Nasdaq: TRMP) said after the close that it had received indications of interest from parties proposing to purchase the company. In after-hours trading, shares were up 10.48% at $14.44. The company had previously announced in March that it had engaged Merrill Lynch to assist it in seeking strategic options. Atlantic-City, New Jersey-based Trump Entertainment owns and operates three properties, and is separate from chairman Donald Trump's other real estate and holdings. Market capitalization of Trump Entertainment was slightly more than $400 million.

Sonic Solutions (Nasdaq: SNIC) was lower in after-hours trading after announcing partial and unaudited results for its fourth quarter ended March 31. Sonic said net revenue was $38.1 million, compared with the average analyst estimate for $38.4 million. The company, which continues to review its options program and other accounting practices, said net revenue for the first quarter was expected between $33.0 million and $35.0 million. That guidance was below analysts' expectations for $36.9 million. Novato, Calif.-based Sonic Solutions, a digital media software company, was last quoted in after hours trading at $12.52, down 6.36%.

The following were the most actively traded companies in Tuesday's trading among those with market capitalizations under $500 million:

These are the biggest percentage gainers among companies with market capitalizations under $500 million:

The Russell 2000 lost big today, while the Dow managed a small rise.  Among specific small cap stocks, QAD Inc. (Nasdaq: QADI) said it expects to report a loss in the first quarter of fiscal 2008, while shares of Source Interlink Companies, Inc. (Nasdaq: SORC) sagged on news of a $1.2 billion media acquisition.

The Russell 2000 lost 7.21 points, or 0.87%, to 822.33.  The Dow Jones Industrial Average added 20.56 points, or 0.15%, to 13,346.78.

These are the biggest percentage losers among companies with market capitalizations under $500 million: