Tag - ADVNB

American Axle & Manufacturing Holdings Inc (Nasdaq:AXL), Independent Bank Corp (Michigan) (Nasdaq:IBCP) and Bancorp Bank (Nasdaq:TBBK) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sciele Pharma Inc (Nasdaq:SCRX), Advanta Corp(Nasdaq:ADVNB), SI Financial Group Inc (Nasdaq:SIFI), Consolidated Graphics Inc (Nasdaq:CGX), Chimera Investment Corp (Nasdaq:CIM) and Global Traffic Network Inc (Nasdaq:GNET).

Here are the biggest percentage losers among small caps:

As widely expected, the Fed trimmed the fed funds rate by 25 basis points to 2%. It is the central bank’s seventh consecutive cut in the key interest rate since September, when the Fed first began battling the credit tempest. The discount rate was similarly lowered by 25 basis points to 2.25%.

In justifying the decision, the Fed said economic activity remains weak because of subdued spending and a soft labor market. The Federal Open Market Committee voted 8-2 to bring its target rate to its lowest since December 2004.

Small caps treaded water briefly after the Fed decision, but are beginning to rise in afternoon trading. At 2:45 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.93, or 0.69%, at 723.86.

This morning, it was reported that the U.S. economy grew at a slothful 0.6%, just dodging negative growth — an “official” recession signal. GDP came in slightly better than the 0.5% economists had forecasted. While official definition of a recession definition is two consecutive quarters of negative GDP growth, the United States has experienced two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers grapple with tumbling housing values, rising energy and food costs and a soft labor market.

“Everyone has been finding holes in the positive GDP even before it came out and today's number showed much better consumer spending than what would think,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “However, this data didn't include much of the March numbers. We know . . .

Small-caps are continuing their upward assent midday, ahead of the Federal Reserve’s decision and after this morning’s GDP number was in positive territory.

At 1:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 5.01, or 0.70%, at 723.94, while the Dow had gained 117.4, or 0.91%, to 12,949.34.

The Federal Reserve’s Federal Open Market Committee two-day meeting concludes at 2:15 p.m. today in which the Fed is widely expected to trim the fed funds rate by 25 basis points. This would be the central bank’s seventh consecutive cut in the key interest rate since September when the Fed first began battling the credit tempest. Investors will pay close attention to the central bank’s commentary to see if the Fed will pause its monetary policy-loosening campaign to fend off inflation.

Much of today’s trading has been driven by the better-than-expected GDP number and corporate earnings.

This morning it was reported that the U.S. economy grew at a slothful 0.6%, just dodging negative growth — an “official” recession signal. GDP came in slightly better than the 0.5% economists had forecasted. While official definition of a recession definition is two consecutive quarters of negative GDP growth, the United States has experienced two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers grapple with tumbling housing values, rising energy and food costs and a soft labor market.

“Everyone has been finding holes in the positive GDP even before it came out and today's number showed much better consumer spending than what would think,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “However, this data didn't include much of the March numbers. We know . . .

Buffalo Wild Wings (Nasdaq:BWLD), RadiSys Corp. (Nasdaq:RSYS) and Lithia Motors, Inc. (NYSE:LAD) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Protection One, Inc. (Nasdaq:PONE),  Advanta Corp. (Nasdaq:ADVNB) and Sucampo Pharmaceuticals, Inc. (Nasdaq:SCMP) are also among the top small-cap percentage gainers.

Here are Wednesday's biggest percentage gainers among small caps:

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


• Landry’s Restaurants, Inc. (LNY), up 23% on news that CEO Tilman Fertitta has offered to buy out the company for $379.4 million in cash.
• Acorda Therapeutics, Inc. (ACOR), up 22% on news of a positive drug trial.
• Advanta Corp. (ADVNB), up 18%.


• Rediff.com India Ltd. (REDF), down 18% on news of a decline in third-quarter earnings.
• Ceragon Networks Ltd. (CRNT), down 18% despite news that it swung to a fourth-quarter profit.
• Graham Corp. (GHM), down 17% despite news that its fiscal 2008 revenue will come in near the top end of its projection for between $80 million and $85 million.

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

Investors appear to be in a bearish mood even though U.S. retail sales for November were surprisingly strong. The Commerce Department reported that retail sales climbed 1.2%, well above the projected increase of 0.6% and higher than October’s 0.2% increase.

That result is surprising because economists expect consumer spending to slow in the closing months of 2007.

But there is also disappointing economic news.

The U.S. Labor Department reported that November producer prices, the prices received by domestic producers for their output, jumped 3.2%. That’s the biggest monthly increase in more than 30 years.

The core producer price index, which excludes food and energy, added 0.4%.

Both figures are well above what economists were expecting, which raises fears of inflation.

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:

• Rigel Pharmaceuticals, Inc. (RIGL), up 78% on news its treatment for rheumatoid arthritis demonstrated good results in a clinical trial.
• Advanta Corp. (ADVNB), up 7%.
• Cynosure Inc. (CYNO), up 6%.

The Russell 2000 (NYSE: IWM) futures have moved up and the small-cap index will open in the green.

Investors are waiting to see what kind of relief President Bush will offer to borrowers at risk of losing their home. The plan will most likely feature a temporary hold on low mortgage rates that would otherwise increase sharply with time.

In economic news, the number of unemployment claims for the week ended Dec. 1 was 338,000, a decrease of 15,000 from the previous week’s upwardly revised figure of 353,000, according to the U.S. Labor Department. Economists were expecting to see a slightly larger 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:

• Hoku Scientific, Inc. (HOKU), up 33% on news it will borrow up to $185 million for the construction of a polysilicon production plant.
• Pain Therapeutics, Inc. (PTIE), up 14% on news a drug trial met its endpoint.
• DURECT Corp. (DRRX), up 14% on news of a successful drug trial.

Biggest percentage losers:

• BioCryst Pharmaceuticals, Inc. (BCRX), down 10% on news it has decided to discontinue a drug trial.
• Advanta Corp. (ADVNB) down 4%.
• Force Protection, Inc. (FRPT) down 3% on news of an unfavorable article published about the company.

Sturm, Ruger & Co. (NYSE: RGR), Triad Guaranty Inc. (Nasdaq: TGIC) and Barrett Business Services, Inc. (Nasdaq: BBSI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers: