Tag -  SIMO 

Martin Midstream Partners LP (Nasdaq:MMLP), Telefonica de Argentina ADR Rep 40 B ord shs (Nasdaq:TAR) and US Global Investors Inc. (Nasdaq:GROW) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Aixtron ADR (Nasdaq:AIXG), Cavium Networks Inc. (Nasdaq:CAVM), Evergreen Solar Inc. (Nasdaq:ESLR), Silicon Motion Technology Corp. (Nasdaq:SIMO), WNS Holdings Ltd. (Nasdaq:WNS) and AirMedia Group Inc. (Nasdaq:AMCN).

Here are the new 52-week lows among small caps:

Silicon Motion Technology Corp (Nasdaq:SIMO), LandAmerica Financial Group Inc (Nasdaq:LFG) and Zones Inc (Nasdaq:ZONS) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Capital Trust Inc (Nasdaq:CT), Healthways Inc (Nasdaq:HWAY), Stewart Information Services Corp (Nasdaq:STC), Hickory Tech Corp (Nasdaq:HTCO), American National Bankshares Inc (Nasdaq:AMNB) and SonicWALL Inc (Nasdaq:SNWL).

Here are the new 52-week lows among small caps:

Better-than-expected payrolls data and the Federal Reserve’s extension of credit to Wall Street banks buoyed small caps for the morning and early afternoon; however, they have since succumbed to the red tide, as oil has reversed course and marched higher.

At 1:40 p.m. ET, the Russell 2000 (NYSE:IWM) had slipped 3.19, or 0.45%, to 711.36. While the Dow remained in green territory, up 68.64, or 0.60%, to 11, 466, it is sliding from intra-session highs.

A positive surprise from the ADP Employment Report this morning bolstered investors’ expectations for the Labor Department’s monthly employment report due out Friday.

The ADP report showed an uptick of 9,000 in non-farm payroll jobs, substantially above the forecast for a decline of 58,000 non-farm payroll jobs. Historically, the ADP report carried muster, as it used to correlate with the Labor Department’s employment report; however that correlation has broken down over the last year and the ADP figure has tended to only be a good predictor when it falls near the consensus estimate. “It seems to be too optimistic in relation to the data coming from the BLS,” Bill Greiner, chief investment officer for UMB Asset Management and UMB Bank, and chief economist for Scout Investment Advisors, said. “This has been the case for some time.” Economists are expecting a slide of 75,000 jobs in Friday’s employment report from the Labor Department.

In other economic news, the weekly MBA Mortgage Applications Survey clocked in this morning at minus 14.1, the lowest level since December 2001. The combination of weak home sales and slumping home equity continue to take a toll on mortgage applications, despite moderating mortgage rates.

Better-than-expected payrolls data and the Federal Reserve’s extension of credit to Wall Street banks buoyed investors’ moods, boosting small caps on the open and keeping them afloat in the green midday.

At 12:34 p.m. ET, the Russell 2000 (NYSE:IWM) was up 2.28, or 0.32%, at 716.83, while the Dow was up 81.5, or 0.72%, at 11,479.06.

A positive surprise from the ADP Employment Report this morning bolstered investors’ expectations for the Labor Department’s monthly employment report due out Friday.

The ADP report showed an uptick of 9,000 in non-farm payroll jobs, substantially above the forecast for a decline of 58,000 non-farm payroll jobs. Historically, the ADP report has carried muster, as it used to correlation with the Labor Department’s employment report; however that correlation has broken down over the last year and the ADP figure has tended to only be a good predictor when it falls near the consensus estimate. Economists are expecting a slide of 75,000 jobs in Friday’s employment report and were skeptical about the ADP data this morning.

In other economic news, the weekly MBA Mortgage Applications Survey clocked in this morning at minus 14.1, the lowest level since December 2001. The combination of weak home sales and slumping home equity continue to take a toll on mortgage applications, despite moderating mortgage rates.

Silicon Motion Technology Corp (Nasdaq:SIMO), LandAmerica Financial Group Inc (Nasdaq:LFG) and Online Resources Corp (Nasdaq:ORCC) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: LECG Corporation (Nasdaq:XPRT), Ultimate Software Group Inc (Nasdaq:ULTI), Asbury Auto GP Ord Shs (Nasdaq:ABG), ICT Group Inc (Nasdaq:ICTG), Hanmi Financial (Nasdaq:HAFC) and Stewart Information Services Corp (Nasdaq:STC).

Here are the biggest percentage losers among small caps:

Shares of Silicon Motion Technology Corp. (Nasdaq:SIMO) are crumbling on high volume in pre-market trading after the maker of semiconductors for consumer electronics said this morning that net income for the second quarter plunged 44% and clocked in at half the level analysts were on average forecasting. Although sales increased 2% in the quarter, the top-line still fell below the consensus on Wall Street.

Results took a hit, as the small cap bore the brunt of anemic sales for storage products, as demand weakened. Silicon was unfavorably affected by weak demand from many customers, in both retail as well as its bundled card controller segments.

Shares flopped 24%, or $2.59, to $8.41 in pre-market trading. For detailed price information and recent news stories about Silicon Motion, click SIMO.

Still have a phone that only makes phone calls? That’s so 20th century; these days, the relic of a standard cell phone has been surpassed by devices that can do everything from record video to surf the Web to get directions to Manhattan. There are still some things these all-in-one devices can’t do, such as clean your house or walk your dog, but you never know: Silicon Motion Technology Corp. (Nasdaq:SIMO) and EXFO Electro-Optical Engineering (Nasdaq:EXFO) may be working on that, too.

Because of technology advances, different types of electronic devices now offer similar functionalities. Mobile phones for example, have become multimedia devices with integrated camera, video, music, e-mail, Internet and television. Most new personal computers have wireless connectivity, Internet and video phone and advanced video and audio capabilities.

Flash drives (self-contained devices using flash memory as their data storage medium) are one of the advances that enable these devices to be multi-functional  and are rapidly replacing floppy drives as the storage medium in electronic devices because of their smaller size, superior data storage capacity, ease of use, rewrite capability, speed and security. Gartner Dataquest estimates that the worldwide market for USB flash drives grew 66% annually to $1.7 billion in 2007 from $135.6 million in 2002.

Silicon Motion designs, manufactures and markets universally compatible, low-power semiconductors for the consumer electronics market. Its core business involves mobile storage devices, commonly known as controllers, used in flash memory cards, USB flash drives and card readers. The company’s products power mobile phones, digital cameras, personal digital assistants, car navigation systems, multimedia . . .

Solarfun Power Holdings Co., Ltd. (Nasdaq:SOLF), Super Micro Computer, Inc. (Nasdaq:SMCI) and Silicon Motion Technology Corp. (Nasdaq:SIMO) are among the most actively traded companies in Wednesday's pre-market trading among those with market capitalizations under $750 million.

Salary.com, Inc. (Nasdaq:SLRY), Align Technology, Inc. (Nasdaq:ALGN) and DemandTec, Inc. (Nasdaq:DMAN) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Wednesday's pre-market trading:

Shares of Silicon Motion Technology Corp. (Nasdaq: SIMO) are advancing this morning after the fabless semiconductor company reported third-quarter results above the Street’s estimates. The small cap also noted it’s “optimistic” for the fourth quarter.

For the three months ended Sept. 30, the Taiwanese company recorded earnings per share of $0.40 per share, above the $0.32 per share eight analysts polled by Thomson Financial were on average forecasting. For the third quarter last year, the company had EPS of $0.31 per share.

Net sales clocked in at $45.8 million, a shade higher than the consensus of eight analysts polled by Thomson Financial of $44.34 million. The current quarter sales represent an increase of 44% over the $31.63 million in sales the company racked in for the same quarter last year.

Business at Silicon Motion boomed for the quarter. Highlights include total unit shipments increased 57% year-over-year at 78.5 million units. Also, Microsoft Corp. (Nasdaq: MSFT) selected the company's embedded flash controllers for its recently launched next-generation flash-based Zune portable media player.

Going forward, Silicon Motion's CEO, Wallace Kou, said he is more optimistic about the company’s current business outlook than compared to three months ago. Wallace said he expects NAND flash bit growth in the fourth quarter to be “much stronger” than the third quarter. Additionally, the executive noted that despite an expected slowdown in consumer spending, “current indications suggest that handsets and other electronic devices that use Silicon Motion’s products continue to sell well.”

As a result, for the fourth quarter, management expects revenue of approximately $50 million to $52 million, and gross margins to remain in the 52 to 53% range. Eight analysts surveyed by Thomson Financial are expecting on average sales of $49.82 million.

Shares of Silicon Motion (SIMO) gained $3.24, or 14.93%, to $24.94 at 10:34 a.m. ET. Shares of Silicon Motion have been trading in the range of $14.41 to $29.00 for the past 52 weeks.

Origin Agritech Ltd. (Nasdaq: SEED), ClickSoftware Technologies Ltd. (Nasdaq: CKSW) and Buffalo Wild Wings (Nasdaq: BWLD) are among the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

The Russell 2000 lost nearly two percent today, while investors struggled to make sense of conflicting economic data.  In small cap action, a drop in fourth-quarter net income lowered shares of Comarco, Inc. (Nasdaq: CMRO), while Sterling Financial Corporation (Nasdaq: SLFI) said it will revise its recent financial statements.

The Russell 2000 lost 15.13 points, or 1.82 percent, to 814.57, reflecting the biggest percentage loss among the major indices.  The Dow Jones Industrial Average lost 58.03 points, or 0.44 percent, to 13,062.91.

Shares of Rackable Systems Inc. (Nasdaq: RACK) dipped $0.56, or 4.5%, to $12.02 in after-hours trading today after the Milipitas, Calif.-based provider of servers and storage products missed analysts’ estimates for the first quarter. Rackable Systems posted a non-GAAP net loss of $3.6 million, or $0.13 per share, on revenue of $72 million for the first quarter ended March 31. Eight analysts polled by Thomson First Call were expecting a net loss of $0.05 per share on revenue of $73.5 million. CEO Tom Barton said the quarter was challenging because of aggressive pricing from competitors for orders at the firm’s top three accounts.

Synchronoss Technologies Inc. (Nasdaq: SNCR) soared $2.54, or 13.6%, to $21.20 in after-hours trading today after the company beat analysts’ earnings estimates for the first quarter. The Bridgewater, N.J.-based transaction management software firm reported non-GAAP earnings $4 million, or $0.12 a share, on revenue of $21.3 million for the three months ended March 31. Four analysts polled by Thomson First Call were expecting earnings per share of $0.10 on revenue of $21 million. Synchronoss cited the shift toward converged services as being partly responsible for the results. The company also said business from its largest customer, AT&T (NYSE: T), grew by 30% when compared with last year’s first quarter.

After closing up 8% on the heels of an analyst upgrade, Secure Computing Corp. (Nasdaq: SCUR) slid $0.33, or 3.8%, to $8.31 in after-hours trading today after reporting first quarter results. The San Jose, Calif.-based security software firm reported non-GAAP net income of $3.4 million, or $0.05 per share, on revenue of $60.5 million for the first quarter. Twelve analysts polled by Thomson First Call were expecting earnings per share of $0.03 on revenue of $60.4 million. Earlier in the day, Goldman Sachs upgraded the stock from “sell” to “neutral.”

Shares of Waukegan, Ill.-based biopharmaceutical firm NeoPharm, Inc. (Nasdaq: NEOL) are in positive territory after news the company will reduce its workforce by 42% and make management changes.  The stock is up $0.03, or 1.82%, to $1.68.