Tag - ABMD

DryShips Inc. (Nasdaq:DRYS), Acorda Therapeutics Inc. (Nasdaq:ACOR) and Abiomed Inc. (Nasdaq:ABMD) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Geron Corp. (Nasdaq:GERN), Medarex Inc. (Nasdaq:MEDX), GMX Resources Inc. (Nasdaq:GMXR), UAL Corp. (Nasdaq:UAUA), A Power Energy Generation Systems Ltd. (Nasdaq:APWR) and NetGear Inc. (Nasdaq:NTGR).

Skechers USA Inc. (Nasdaq:SKX), American Pacific Corp. (Nasdaq:APFC) and Mercantile Bancorp  (Nasdaq:MBR) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Nara Bancorp Inc. (Nasdaq:NARA), TEAM Inc. (Nasdaq:TISI), Abiomed Inc. (Nasdaq:ABMD), Advisory Board Co. (Nasdaq:ABCO), Cutera Inc. (Nasdaq:CUTR) and Hawthorn Bancshares Inc. (Nasdaq:HWBK).

The Russell 2000 (NYSE:IWM) pushed higher Thursday, boosted by talk that the Obama stimulus plan . . .

Small-cap stocks pushed higher Thursday, boosted by talk that the Obama stimulus plan and his measures to help banks could include a provision to suspend the “mark-to-market” accounting provision that many say hurts financial balance sheets. In addition, tech stocks and retailer shares showed surprising strength that allowed the market to look past sobering economic data on the employment and factory orders front. The tech-laden Nasdaq 100 Index rose 2.4% on the day, while the Russell 2000 (NYSE:IWM) closed up 6.60, or 1.47%, at 455.08 and is now down 8.8% for the year. Meanwhile, the Dow is off 8.1% for the 2009, while the S&P 500 is down 6.3%.

Critics of the mark-to-market accounting procedure say that it forces firms to write-down losses on unrealized assets, which in turn bloodies the bottom line prematurely. However, proponents of the accounting process say it helps avert disasters like the Enron debacle. President Obama is slated to hold a press conference Monday evening to rollout his stimulus plan to the world in an effort to build momentum to get the $800 billion package pushed through a divided political landscape.

It was encouraging to see the stock market grind out a positive session today, especially in the face of disheartening data on weekly unemployment claims and slumping factory orders. The claims report came in at 626,000, which was way above the projected figure and also at 26-year highs. What’s more, the number of Americans forced to file for continuing unemployment benefits rose to 4.78 million, the highest number in history. Having a record number of people on the unemployment rolls the day before the monthly Labor Department employment report seemed quite daunting this morning, but the market quickly embraced the accounting talk and looked past the data.

Also on the economic front, the factory orders report tumbled 3.9%, . . .

Corporate Executive Board Co. (Nasdaq:EXBD), Yadkin Valley Financial Corp. (Nasdaq:YAVY) and Abiomed Inc. (Nasdaq:ABMD) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: First Financial Holdings Inc (Nasdaq:FFCH), Forrester Research Inc (Nasdaq:FORR), Astoria Financial Corp (Nasdaq:AF), TEAM Inc (Nasdaq:TISI), Advisory Board Co (Nasdaq:ABCO) and Hill Rom Holdings Inc (Nasdaq:HRC).

M I Homes Inc. (Nasdaq:MHO), Abiomed Inc. (Nasdaq:ABMD) and Corporate Executive Board Co. (Nasdaq:EXBD) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Micrus Endovascular Corp. (Nasdaq:MEND), Life Time Fitness Inc. (Nasdaq:LTM), 99 Cents Only Stores (Nasdaq:NDN), Forrester Research Inc. (Nasdaq:FORR), Harman International Industries Inc. (Nasdaq:HAR) and Yadkin Valley Financial Corp. (Nasdaq:YAVY).

Titan Machinery Inc (Nasdaq:TITN), Cyberonics Inc (Nasdaq:CYBX) and Abiomed Inc (Nasdaq:ABMD) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: GMX Resources Inc (Nasdaq:GMXR), Innophos Holdings Inc (Nasdaq:IPHS), Gran Tierra Energy Inc (Nasdaq:GTE), A Power Energy Generation Systems Ltd (Nasdaq:APWR), CardioNet Inc (Nasdaq:BEAT) and Calgon Carbon Corp (Nasdaq:CCC).

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

Royale Energy Inc (Nasdaq:ROYL), Avant Immunotherapeutics Inc (Nasdaq:AVAN) and Brigham Exploration Co (Nasdaq:BEXP) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

GMX Resources Inc (Nasdaq:GMXR), Abiomed Inc (Nasdaq:ABMD) and CardioNet Inc (Nasdaq:BEAT) are also among the new 52-week highs.

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

Small-cap stocks pushed lower Monday as credit crunch fears resurfaced, igniting a flurry of selling in the financial sector that spread into several other arenas as well. The Russell 2000 (NYSE:IWM) tumbled 7.25, or 0.97%, to 741.03. For much of the day, small caps appeared set to generate the largest one-day percentage decline in nearly a month, but some late buying in the final half-hour lifted the market well off the intraday lows.

Renewed concerns about the credit crisis originated overseas in the United Kingdom when Bradford & Bingley (LON:BB), a large mortgage provider for residential rental units said that housing market woes are deepening. Shares in Bradford & Bingley tumbled 24% and sparked selling enthusiasm in various European banks.

Selling in financial shares picked up additional momentum when Standard & Poor’s lowered credit ratings on some key U.S. securities firms. Lehman Bros. (NYSE:LEH) shed over 7% on the ratings news, while Morgan Stanley (NYSE:MS) and Merrill Lynch (NYSE:MER) both lost over 3%.

In addition to the concerns over mortgage houses, brokerage firms and other financial shares, a couple of major American banks changed up top management leaders, which also shook up the market. Wachovia Corp. (NYSE:WB) ousted its CEO and the stock slid about 2%. Meanwhile, Washington Mutual (NYSE:WM), said it would strip away the title of chairman from its chief executive next month. Washington Mutual shares dipped to their lowest level since mid-March on the news, but bounced back to close near steady levels.

Even though the credit crunch concerns dominated investor psychology today, a reversal in crude oil from overnight losses probably didn’t help matters for the bulls. Crude oil climbed back to nearly $128 dollars a barrel, while gold pushed higher. In addition, wheat futures jumped 2.7% and corn rallied about 2.6%. The Commodity Research Bureau Index climbed 0.85% and is just slightly below the record . . .

Small caps opened lower, and remained in the red even after manufacturing data came out better than expected. The tone for a lower opening was forged overnight as credit crunch worries resurfaced in Europe and spilled over into investor psychology in the United States. At 10:05 a.m. ET, the Russell 2000 (NYSE:IWM) was down 8.02, or 1.07%, at 740.27.

The ISM Manufacturing Survey came out at 49.6, which was up from 48.6 last month, and well above the forecast of 48.5. Stocks trimmed losses just slightly after the number came out, but were unable to muster enough buying to dramatically cut into the opening losses as the sellers continued to dominate action even after the report. Construction spending data also came out this morning and was down 0.4%, slightly better than the forecast for a loss of 0.6%

The ISM data this morning was just the first salvo in a week chock full of big economic reports. As the week progresses, investors will have a chance to decipher data on manufacturing, vehicle sales, productivity and employment.

Bradford & Bingley (LON:BB), the largest mortgage lender to residential rental units, tumbled some 25% overnight and said that the housing market was getting worse, not better. The slide in mortgage lenders spilled over to the banking arena and to other financial shares as well. In the United States early losses were seen in JP Morgan (NYSE:JPM), which was off 0.9%. Also, Wachovia (NYSE:WB) opened down 3.3% on news that the bank’s CEO was terminated.

Large caps in the news to start the week included General Motors Corp. (NYSE:GM), which rallied 4% early after a bullish article in Barron’s.

The U.S. dollar was in a rally mode before the ISM data, and retained gains against the euro and yen after the report. The dollar was up about 0.3% against the euro and up nearly 0.8% versus the yen. In general, a strong dollar of late has been linked to a positive for equities, suggesting an unravel of the long commodities/short dollar trade and a better tone for the struggling U.S. economy.

Speaking of commodities, the firm dollar sparked a retreat in many dollar-denominated physical markets, including crude oil, which slipped in overnight action and . . .

Cardiac medical devices company Abiomed, Inc. (Nasdaq:ABMD) said this morning that it received clearance from the U.S. Food and Drug Administration for its Impella 2.5 Cardiac Assist Device. The approval enables Abiomed to begin selling the device to an estimated 14,000 interventional cardiologists at roughly 1,700 heart hospitals in the United States.

Shares gained 4.5%, or $0.67, to $15.45 in pre-market trading. For detailed price information and recent news stories about Abiomed, click ABMD.

Medical device company Abiomed, Inc. (Nasdaq:ABMD) reported a wider-than-expected loss for its fiscal fourth quarter of 2008 this morning. Revenues for the quarter also fell short of the Street’s view. Additionally, Abiomed issued revenue guidance for fiscal 2009 below the Street.

Shares slid 4.39%, or $0.61, to $13.30 out of the gate. For detailed price information and recent news stories about Abiomed, click ABMD. 

Abiomed, Inc. (Nasdaq: ABMD) shares are down in pre-market trading after the medical products and services provider announced a wider second-quarter loss of $9.4 million, or $0.29 per share, worse than analyst estimates of a loss of $0.21 per share and compared with a loss of $8.7 million, or $0.33 per share, a year earlier.

“Overall, we are excited and prepared to enter the U.S. market with our strategic platforms of Impella and iPulse products when we receive FDA approvals,” CEO Michael Minogue said in a statement. “As we stated at the start of the fiscal year, the revenue ramp in the U.S. is dependent on regulatory approvals and would be second half loaded.”

The Danvers, Mass.-based company reaffirmed its fiscal 2008 revenue growth estimate of greater than 20%.

During the three months ended Sept. 30, the company’s revenue totaled $11.4 million, below Wall Street projections of $14 million and compared with $10.9 million last year.

In pre-market trading, ABMD shares are down 9.04%, or $1.20, at $12.07. Over the last 52 weeks, shares have ranged from $9.95 to $15.10.

Shares of Abiomed, Inc. (Nasdaq: ABMD) are advancing out of the gate this morning after the seller of medical devices to assist or replace the pumping function of the failing heart announced it has received conditional approval from the U.S. Food and Drug Administration to begin a clinical trial for its Impella 2.5 Circulatory Support System.

Approval is conditional upon the Abiomed’s submission of additional information to the FDA over the next 45 days.

The company’s study will determine the safety and effectiveness of the Impella 2.5 compared with optimal medical management with an Intra-Aortic Balloon Pump during "high-risk" angioplasty procedures.

Shares of Abiomed rose $0.04, or 0.33%, to $12 just after the bell.

Founded in 1981, Abiomed Inc. (Nasdaq: ABMD) is hardly a start-up. But the maker of heart assist and replacement systems has the promise of one.

Since its inception, Abiomed has claimed its mission is nothing less lofty than making real the day when heart failure need not mean the end of life or the ability to enjoy life.

With each decade, the Danvers, Mass.-based company has made progress on its goal. And any day now, Abiomed could receive clearance from the U.S. Food and Drug Administration to advance on the road to approval of its Impella 2.5 product, a “minimally invasive” catheter pump. That’s why analysts’ median target price on the stock is $22, compared with a close on Thursday of $13.61. The 52-week low of $9.95 was set a month ago, while the year-high of $16.19 was established nearly a year ago.

This week alone, the stock climbed 33% after the company announced it was moving forward in the regulatory process for Impella by providing a formal written response to questions from the FDA on the device. In a conference call on Thursday, AbioMed CEO Michael R. Minogue said of the anticipated approval, which he said could take place between September 2007 and March 2008: “In essence, the clock is ticking.”

The firm also said it expects to generate revenue by getting reimbursed from the Centers of Medicare and Medicaid Services for Impella as it continues conducting clinical trials.

Abiomed has perhaps been best known for its experimental artificial heart, AbioCor. After one of the longest reviews ever, Abiomed finally got the green light from the FDA in September 2006 to market the self-contained, implantable artificial heart. In approving the AbioCor, the FDA described it as the first totally implanted artificial heart for patients with advanced heart failure involving both pumping chambers of the heart.

Medical products and services provider Abiomed, Inc. (Nasdaq: ABMD) said Wednesday morning that it received Canadian regulatory approval for its Impella circulatory support technologies.

The company said its product was approved for use in Canada by Health Canada’s Therapeutic Products Programme.

The Impella devices are said to be a key treatment option for clinicians in Canada’s catheterization laboratory and surgical suites. Abiomed’s Impella 2.5 is a ventricular assist catheter, which is inserted percutaneously in the catheterization laboratory via the femoral artery into the left ventricle.