Tag -  PMII 

Shares of Power Medical Interventions Inc. (Nasdaq:PMII) rose 15% this morning after the company announced it had inked a deal with Intuitive Surgical Inc.

Langhorne, Pa.-based Power Medical said after the bell this morning that it has entered into two definitive agreements with Intuitive Surgical, including a license and development agreement for the two firms to jointly develop a surgical stapling device that will attach to Intuitive's da Vinci surgical systems.

The deal marks Power Medical’s first licensing transaction.

Power Medical is at $5, up $0.67 from Thursday’s close. Shares have traded as low as $2.60 and as high as $14.64 during the past 52 weeks.

For detailed price information and news stories on Power Medical, click PMII.

<strong>Duckwall Alco Stores Inc. </strong>(Nasdaq:<a href="/ticker/duck">DUCK</a>), <strong>Gladstone Commercial 7.75% Pref Shs Series A </strong>(Nasdaq:<a href="/ticker/goodp">GOODP</a>) and <strong>Power Medical Interventions Inc.</strong> (Nasdaq:<a href="/ticker/pmii">PMII</a>) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.<br /> <br /> Also included among the results: <strong>Aventine Renewable Energy Holdings Inc. </strong>(Nasdaq:AVR), <strong>Apco Argentina Inc. </strong>(Nasdaq:<a href="/ticker/apagf">APAGF</a>), <strong>Micromet Inc. </strong>(Nasdaq:<a href="/ticker/miti">MITI</a>), <strong>Physicians Formula Holdings Inc. (</strong>Nasdaq:<a href="/ticker/face">FACE</a>),<strong> FortuNet Inc. </strong>(Nasdaq:<a href="/ticker/fnet">FNET</a>) and <strong>Delek US Hldg Inc. </strong>(Nasdaq:<a href="/ticker/dk">DK</a>).<br /> <br /> Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed lower on the opening, pressured by troubling economic data that raised concerns about both inflation and employment. That said, the market was hanging in relatively well given the sobering news, with the Russell 2000 (NYSE:IWM) climbing into the green near 10:00 a.m. ET. At 10:03 a.m. ET, Russell was up 0.16, or 0.02%, at 747.86.

Ahead of the opening, the Consumer Price Inflation report showed no relief on the price front, with the headline figure climbing to 0.8%, which was way above the forecast of 0.4%. What’s more, the year-over-year figure rose to 5.7%, the highest mark since January 1991. Even the so-called “core” inflation rate, which excludes food and energy prices, rose faster than the projection. With gasoline pump prices pushing north of $4 dollars a gallon this summer and food prices on the rise, excluding food and energy doesn’t make that much sense anyhow.

The weekly claims report also carried a sobering message this morning, as unemployment claims came in at 450,000, which was down from 460,000 last week, but still above the forecast of 432,000. When looking at a four-week moving average, claims remain on an upward trajectory and at the highest level in six years. The combination of rising inflation and weak labor markets is a very difficult position for Federal Reserve policy makers to navigate.

“Headline consumer inflation spurted again in July because of another sharp jump in energy costs and a large increase in food costs,” Steven Wood, chief economist with Insight Economics, said in an email. “However, lower oil prices should reduce energy costs next month. At the present time the Fed is caught between a rock and a hard place with renewed financial turmoil, a deteriorating economy, and climbing inflation. The Federal Reserve has been counting on energy prices to flatten out and weak economic activity over the next several quarters to cap both overall and core inflation. So far, no joy,” Wood said.

As the market prices in the bad news on the economic front, there are some bright spots to keep an eye on this morning, with automobile manufacturers, thrifts, homebuilders, department stores and airlines all on the upside. The S&P Retail Index took a hit Wednesday, but was on better footing this morning, even though retail leader Wal-Mart Stores Inc. (NYSE:WMT) was unable to sustain overnight gains following decent earnings. WMT shares were down 1% shortly after the . . .

Power Medical Interventions Inc. (Nasdaq:PMII) is up more than 14% in pre-market trading after announcing earlier in the day the successful demonstration of incision-free bowel resection and anastomosis. Power Medical is a Longhorn, Pa.-based company that makes instruments for surgical procedures. The company said the live demonstration of its incision-free technique took place on July 12 with an audience of 300 surgeons.

“The successful procedure conducted by these leading surgeons further supports the versatility and precision of the Intelligent Surgical Product Line,” said Michael Whitman, president and CEO, in a statement. “We will continue to work to provide surgeons with a broad range of innovative tools to improve upon and expand minimally invasive surgical procedures.”

The company said the success of this procedure could open the door for the widespread adoption of its incision-free Natural Orifice Translumenal Endoscopic Surgery techniques.

In today’s pre-market trading, shares are at $6.89, up $0.89 from Thursday’s close. Shares have ranged from $3.71 to $14.79 during the past year.

Delta Apparel, Inc. (AMEX:DLA), Broadway Financial Corp. (Nasdaq:BYFC) and Power Medical Interventions, Inc. (Nasdaq:PMII) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Intervoice, Inc. (Nasdaq:INTV), Ixia (Nasdaq:XXIA) and Riviera Holdings Corp. (AMEX:RIV) are also among the top small-cap percentage losers.

Here are Friday's biggest percentage losers among small caps:

The Russell 2000 (NYSE:IWM) jumped today on news of better-than-expected economic data and hopes that the credit crunch is ending. The small-cap index rose 22.67 points, or 3.30%, to 710.64. The Dow Jones Industrial Average climbed 391.47 points, or 3.19%, to 12,654.36.

On a year-to-date basis, the Russell 2000 is down 7.23%, while the Dow has shed 4.61% and the S&P 500 is off 6.69%.

Stocks opened in the green and the bulls completely dominated the session on news before the opening that UBS AG (NYSE:UBS) will issue up to $15 billion in new stock and receive help from other banks in order to deal with $19 billion in writedowns stemming from the subprime mortgage mess.

Separately, Lehman Brothers Holdings Inc. (NYSE:LEH) announced before the opening that it will raise a higher-than-expected $4 billion in preferred stock.

Investors took the actions as a sign that the credit crunch is easing.

Among the winners today was small-cap Team Inc. (Nasdaq:TISI), which provides maintenance and construction services for high-temperature piping systems. The Alvin, Texas-based company reported . . .

The Russell 2000 (NYSE:IWM) ended March with a solid gain on news of a better-than-expected gauge of business activity and a plan to overhaul financial regulation. The small-cap index rose 4.79 points, or 0.70%, to 687.97. The Dow Jones Industrial Average added 46.49 points, or 0.38%, to 12,262.89.

On a year-to-date basis, the Russell 2000 is down 10.19%, while the Dow has shed 7.55% and the S&P 500 has declined 9.92%.

Small-cap stocks began the session mixed, trading with no clear direction as investors awaited economic and financial news.

The National Association of Purchasing Management-Chicago reported after the start of trading that its purchasing managers’ index rose to higher-than-expected level of 48.2 in March from 44.5 in February. The news eased concerns of a decline in business investment even though readings below 50 signify a contraction.

Also grabbing the headlines was a plan by the Bush administration for a major overhaul of the existing financial regulation. The proposal, outlined by U.S. Treasury Secretary Henry Paulson after the opening, would broaden the powers of . . .

Ansoft Corp. (Nasdaq:ANST), Power Medical Interventions, Inc. (Nasdaq:PMII) and Reis, Inc. (Nasdaq:REIS) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Methode Electronics Inc. (NYSE:MEI), Transcat, Inc. (Nasdaq:TRNS) and Orbitz Worldwide, Inc. (NYSE:OWW) are also among the top small-cap percentage gainers.

Here are Monday's biggest percentage gainers:

The Russell 2000 (NYSE:IWM) raced ahead on news that a manufacturing index declined less than expected. The small-cap index advanced 17.29 points, or 2.60%, to 681.42. The Dow Jones Industrial Average (INDU) climbed 261.66 points, or 2.16%, to 12,361.32.

On a year-to-date basis, the Russell 2000 has shed 11.05%, while the Dow is down 6.81% and the S&P 500 has retreated 9.46%.

Small-cap stocks opened with a modest rise but picked up steam after 10 a.m. ET, when the Philadelphia Federal Reserve reported that its index of regional manufacturing activity showed a reading of -17 in March, while economists had forecasted -20. The reading for February was -24.

The report is the most-watched regional manufacturing index, considered to be a barometer of manufacturing nationwide. Investors disregarded the fact that the data represent the longest period of contraction in five years and pushed stocks higher.

In other bullish news, an analyst said that mortgage purchases by Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) will help right the mortgage market. Today the federal government adopted changes that allow the two companies to invest more in mortgages and related securities.

The Russell 2000 (NYSE: IWM) is in negative territory following news of poor economic data.

At 10:11 a.m. ET, the small-cap index was missing 6.07 points, or 0.85%, to 710.37. The Dow Jones Industrial Average (INDU) was down 96.39 points, or 0.76%, to 12,597.89.

The U.S. Commerce Department reported before the opening that it has reaffirmed its initial estimate for fourth-quarter economic growth of 0.6% at an annual rate. Economists were expecting an upward revision to 0.8%. The economy grew 4.9% during the third quarter.

The price index for personal consumption increased 4.1%, compared with the previously estimated 3.9%. That’s a worrying sign that inflation is not moderating despite the slowing economy.

Separately, the U.S. Labor Department said that jobless claims for the week ended Feb. 23 were 373,000, a larger-than-expected increase from the preceding week’s upwardly revised level of 354,000.

Small-cap stocks are moving down, with PharmaNet Development Group Inc. (Nasdaq: PDGI) being among the top losers.

The Princeton, N.J.-based drug development services company reported fourth-quarter earnings above analysts’ expectations, but is suffering due to its disappointing full-year 2008 forecast.