Tag - AMRI

Bowne & Co Inc. (Nasdaq:BNE), Albany Molecular Research Inc. (Nasdaq:AMRI) and Dolan Media Co. (Nasdaq:DM) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Multi Color Corp. (Nasdaq:LABL), LSI Industries Inc. (Nasdaq:LYTS), Mercury Computer Systems Inc. (Nasdaq:MRCY), Liquidity Services Inc. (Nasdaq:LQDT), Dorman Products Inc. (Nasdaq:DORM) and Molina Healthcare Inc. (Nasdaq:MOH).

The Russell 2000 (NYSE:IWM) closed down 2.76, or 0.59%, at 467.94, and is now off 6.3% for the year. Meanwhile, the Dow is down 5.8% for 2009, while the S&P 500 is down 3.7%. Some of today’s small-cap gainers were Huntington Bancshares (Nasdaq:HBAN), Fifth Third Bancorp (Nasdaq:FITB) and Miller Industries (NYSE:MLR).

Other Market Watch highlights today included:

• There was some thought that the market needed a “breather” session after Friday’s gains that flew in the face of a bad employment report.
• Bank stocks continued to perform solidly today, even though a delay in the announcement of the bank bail out plan was deemed necessary.
• Commodities were a bright spot for the market but faded late with the Commodity Research Bureau index slipping into negative territory.
• Crude oil futures closed down 1.5%, or $0.61 a barrel, at $39.56, slipping back below the $40 level after trading above $42 in the morning.
• There was some thought that investors were starting to fret about the stimulus plan vote, which was expected at some point today.
• Volume was relatively thin much of the day for stocks as traders were preoccupied watching for news out of Washington.
• The chart structure for small caps sports an inside session pullback today on light volume, which carries very little downside “oomph” for the market.
• Treasury Secretary Timothy Geithner is slated to have a press conference . . .

Small-cap stocks slipped back into negative territory after a brief morning rally stalled out. Large-cap indices were hovering near steady levels reflecting investor indecision about the stimulus and bank bail out package as traders basically were sitting on their hands waiting on fresh news out of Washington. Some of today’s small-cap gainers were Huntington Bancshares (Nasdaq:HBAN), Albany Molecular Research (Nasdaq:AMRI) and Fifth Third Bancorp(Nasdaq:FITB).

Other Market Watch highlights today included:

• The light volume pullback so far today for small caps really was not that big a warning sign for the chart picture.   
• Homebuilders, retailers, apparel firms, health-care facilities and electronic component companies were down at midday.  
• Despite the upside bump from banks and energy, small caps were still struggling overall and were clearly lagging the large-cap stocks.  
• Energy shares were another source of strength today, with the Energy Select Sector SPDR Fund up 1.3% at midday.  
• The KBW Banking Index was up 2.5% at mid-session. 

Small Cap Gainers:

• Huntington Bancshares rises 22% as many regional banks saw a rise today. See (Nasdaq:HBAN).  
• Albany Molecular Research turns around to profit in Q4; shares rise over 13%. See (Nasdaq:AMRI).  
• Small-cap regonail bank Fifth Third Bancorp jumped 12.5%, and was clearly not rattled by a rpice cut on the stock from Morgan Stanley.  See (Nasdaq:FITB)
• Volcano Corp. rose 7% as the market of heart products gapped higher without any apparent fresh news behind the move. See (Nasdaq:VOLC).

Small Cap Losers:

• Small-cap homebuilder Centex Corp. was off 3.7%. See (NYSE:CTX).  
• On the homebuilder front, the ISE Homebuilder Index was off 1.3%, with similar losses seen for small-cap builders such as KB Home and Lennar Corp. See (NYSE:KB) and (NYSE:LEN). 

Small-cap stocks edged slightly lower early today, pulled down by sloppy corporate profit results and mild concern that the roll out of the bank bail out plan was pushed back this week. Some of today’s small-cap gainers were Huntington Bancshares (Nasdaq:HBAN), Albany Molecular Research (Nasdaq:AMRI) and Volcano Corp.  (Nasdaq:VOLC).

Other Market Watch highlights today included:

• The U.S. dollar was off about 0.9% against the euro this morning, providing a lift to commodities that are priced in dollar terms.   
• Crude oil futures climbed about $1 a barrel into the stock market open, providing a lift to energy and commodity stocks early.  
• Treasury Secretary Timothy Geithner is slated to have a press conference on the bank plan Tuesday at 11:00 a.m. ET.
• The official excuse for the bank rescue delay was that the Administration wanted to focus attention on the stimulus plan vote.

Small Cap Gainers:

• Huntington Bancshares rises 22% as many regional banks saw a rise today. See (Nasdaq:HBAN).  
• Albany Molecular Research turns around to profit in Q4; shares rise over 13%. See (Nasdaq:AMRI).  
• Volcano Corp. rose 7% as the market of heart products gapped higher without any apparent fresh news behind the move. See (Nasdaq:VOLC).

Small Cap Losers:

• Insight Enterprises Inc. tumbled nearly 16% as the IT firm announced preliminary quarterly results. See (Nasdaq:NSIT).  
• Global Traffic Network Inc. was off 10% as the traffic report specialist took a hit after releasing profit numbers for the quarter. See (Nasdaq:GNET). 
• AMERISAFE Inc. gapped lower and lost 10% as the workers’ comp firm said they would conduct a governance review. See (Nasdaq:AMSF).

InfoSpace Inc (Nasdaq:INSP), Cavium Networks Inc (Nasdaq:CAVM) and Greenfield Online Inc (Nasdaq:SRVY) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Albany Molecular Research Inc (Nasdaq:AMRI), WebMD Health Corp (Nasdaq:WBMD), Amerigon Inc (Nasdaq:ARGN), United Community Bancorp (Nasdaq:UCBA), Transact Technologies Inc (Nasdaq:TACT) and Bon-Ton Stores Inc (Nasdaq:BONT).

Here are the biggest percentage gainers among small caps:

Small-cap stocks edged down in midday trading, pressured by Freddie Mac’s larger-than-expected second-quarter loss and by profit-taking from traders who caught Tuesday’s big rally.

At 12:36 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.90, or 0.12% at 720.14.

Freddie Mac (NYSE:FRE) has dropped 11% in midday trading on sloppy quarterly earnings and news that the firm will reduce its dividend. The mortgage lender reported a $821 million quarterly loss, setting a gloomy mood for investors. Fannie Mae (NYSE:FNM), another government-chartered lender that often closely tracks Freddie's price moves, was also lower in the midday, off some 7%.

“Reuters reports today that the U.S. Treasury has hired Morgan Stanley in an advisory role to help it analyze and better understand its new authorities to backstop housing finance giants Fannie Mae and Freddie Mac,” Andy Busch, global foreign exchange strategist for BMO Capital Markets said in an email. “Today, Morgan Stanley told thousands of clients this week that they won't be allowed to withdraw money on their home-equity credit lines, said a person familiar with the situation according to Bloomberg. Hmm, the grassy-knoll-conspiracy-theorist inside me thinks that the two are related.”

Crude oil futures had slipped $1.59 to $117.58 a barrel in recent trading. Inventory data this morning showed a larger-than-expected rise in U.S. oil stockpiles. In other commodity news, the U.S. dollar continued its rally in midday trading and is up against both the yen and the euro in recent trading.

Tech stocks were underpinned relative to other index products by surprisingly stout earnings from Cisco Systems Inc. (Nasdaq:CSCO), which was up 6% in the midday. Within the tech arena, Microsoft Corp. (Nasdaq:MSFT) was the beneficiary of positive analyst comments overnight and was up 2.25%.

Small-cap stocks began Monday in the red and have continued slipping in afternoon trading. The wave of selling was partially staved off by a better-than-expected non-manufacturing survey, but has not been able to break the 725 mark since about half-past 10 a.m. ET. At 1:40 p.m. ET, the Russell 2000 (NYSE:IWM) was down 2.35, or 0.32%, at 723.39.

The ISM Non-Manufacturing Survey came out at 52%, which was well above the median forecast of 49.5%, and the highest point since December. The reading also snapped three consecutive months of contractions, which is a plus for the economic outlook.

News that Microsoft (Nasdaq:MSFT) abandoned its takeover bid for Yahoo! (Nasdaq:YHOO) kept investors gloomy during the first session of the week. Yahoo shares dipped on the news, sinking as much as 18% in early trading, but down about 13% in afternoon trading. Several reports over the weekend suggested the deal might go through and Wall Street was evidently disappointed with the end result.

The dollar/commodities inflation front was a source of concern for equity bulls this morning. Crude oil prices jumped back above $117 dollars a barrel overnight . . .

Small-cap stocks started out the week in the red, but the early dip in equities did not live up to the selling interest suggested by overnight trends and a surprisingly stout ISM Non-Manufacturing Survey sparked a bout of buying that lifted stocks back toward steady levels. At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.05, or 0.1%, at 724.69.

The ISM Non-Manufacturing Survey came out at 52%, which was well above the median forecast of 49.5%, and the highest point since December. The reading also snapped three consecutive months of contractions, which is a plus for the economic outlook.

The market had a bit of the merger blues this morning after weekend news that Microsoft (Nasdaq:MSFT) pulled out of negotiations for a takeover bid of internet services company Yahoo! Inc. (Nasdaq:YHOO). Yahoo shares took it in the chin on the news, sinking 18% in early trading Monday. The deal was reportedly close to fruition and the failure to close might take some excitement out of the M&A picture — at least in the short run. That said, wireless phone company Sprint (NYSE:S) was up 7% on news that the firm could be a takeover target.

Marvel Entertainment Inc. (NYSE:MVL) shot up nearly 8% this morning . . .

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are in the red despite news of the latest corporate deal making.

At 10:13 a.m. ET, the small-cap index had dropped 7.39 points, or 1.06%, to 691.51. The Dow Jones Industrial Average (INDU) was down 98.11 points, or 0.81%, to 12,084.02.

Search engine Yahoo! Inc. (Nasdaq: YHOO) will reject a bid from Microsoft Corp. (MSFT), the Sunnyvale, Calif.-based company announced before the start of trading.

“Microsoft’s proposal substantially undervalues Yahoo!,” the search engine said in a statement.

The deal was initially valued at about $45 billion but has since decreased to about $42 billion as the price of Microsoft’s shares have fallen. The Redmond, Wash.-based software giant is expected to take its offer directly to Yahoo!’s shareholders.

A merger between the two companies would create a more muscular rival to online search and advertising leader Google Inc. (Nasdaq: GOOG).

More mergers and acquisitions news is coming from networking solutions provider Nortel Networks Corp. and telecommunications heavyweight Motorola Inc. (NYSE: MOT), which are in talks to merge their wireless infrastructure divisions, according to The Wall Street Journal.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting declines following more economic and financial news.
 
At 10:26 a.m. ET, the small-cap index had lost 3.08 points, or 0.44%, to 694.35. The Dow Jones Industrial Average (INDU) was down 36.90 points, or 0.30%, to 12,464.21.

Stocks small and large opened in the red but quickly recovered some of their losses, with the Russell 2000 even briefly visiting positive territory before declining again.

Grabbing the headlines is JPMorgan Chase & Co. (NYSE: JPM), which reported that fourth-quarter net income declined to below analysts’ expectations due to about $1.3 billion in writedowns for subprime-mortgage investments.

However, revenue outpaced Wall Street’s projections.

The New-York-based banking heavyweight also said that credit card spending slowed in December, a worrying sign that Americans might be cutting back on their spending.

In economic news, the U.S. Labor Department reported before the start of trading that consumer prices rose 0.3% in December. That’s above economists’ projected increase of 0.2% but below November’s 0.8% jump.

However, for all of 2007 inflation has added 4.1%, the highest rate since 1990.

The Russell 2000 (NYSE: IWM) recovered from early losses and posted solid gains as a jump in the price of oil lifted energy stocks. The small-cap index added 11.34 points, or 1.43%, to 801.77. The Dow Jones Industrial Average (INDU) advanced 117.54 points, or 0.87%, to 13,660.94.

On a year-to-date basis, the Russell 2000 has increased 1.82%, while the Dow has added 9.51% and the S&P 500 has gained 7.32%.

The price of oil jumped $3.01 to $96.99 a barrel today on news the U.S. Energy Information Administration forecasted that world oil demand growth in the next two quarters will be higher than it previously estimated and a shutdown in production in the North Sea due to expectations of stormy weather.

That led to a rise in shares of energy companies, helping to lift sagging stocks.

Futures were pointing up this morning on news that Citigroup Inc. (NYSE: C) has hired an expert to manage its $43 billion subprime mortgage portfolio and a raised price target for Internet giant Google Inc. (Nasdaq: GOOG).

The indices opened with a rise, but the bulls lost their footing following news that Redbook Research, a publisher of statistics on the U.S. retail market, reported a 0.4% drop in U.S. chain store sales in the final week of October. With consumption comprising about 70% of gross domestic product, a slowdown could spell trouble for the economy.

Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA), Albany Molecular Research, Inc. (Nasdaq: AMRI) and Jaclyn, Inc. (AMEX: JLN)  are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

The Russell 2000 (NYSE: IWM) has rebounded from losses this morning and is now little changed from its starting level. At 1:48 p.m. ET, the small-cap index had added 1.13 points, or 0.14%, to 791.56. The Dow Jones Industrial Average (INDU) was up 51.46 points, or 0.38%, to 13,594.86.

Small-cap stocks can’t seem to gain any traction, despite a generally bullish opening on news that Citigroup Inc. (NYSE: C) has hired an expert to manage its $43 billion subprime mortgage portfolio and a raised price target for Internet giant Google Inc. (Nasdaq: GOOG).

The indices opened with a rise, but the bulls were held by news that Redbook Research, a publisher of statistics on the U.S. Retail Market, reported a 0.4% drop in U.S. chain store sales in the final week of October. With consumption comprising about 70% of gross domestic product, a slowdown could spell trouble for the economy.

The Russell 2000 fell into the red about 30 minutes after the start of trading, but has been rising cautiously since bottoming out at 11 a.m. ET.

Meanwhile, the price of oil has added $2.71 to $96.69 a barrel as the U.S. Energy Information Administration said that world oil demand growth in the fourth quarter of 2007 and the first quarter of 2008 will be higher than it previously forecast.

The Russell 2000 (NYSE: IWM) is slipping into negative territory despite a generally bullish mood following upbeat news from major corporate players.

At 10:38 a.m. ET, the small-cap index had lost 2.77 points, or 0.35%, to 787.66. The Dow Jones Industrial Average (INDU) was up 15.93 points, or 0.12%, to 13,559.33.

The mood in pre-market trading was bullish following news that Citigroup Inc. (NYSE: C) has hired an expert to manage its $43 billion subprime mortgage portfolio. The New York-based bank caused a sell-off on Monday after announcing that it expects additional losses of $8 billion to $11 billion after already suffering $6.5 billion in credit-related losses in the third quarter.

The tech sector contributed to the positive sentiment after a broker research firm raised its price target for heavyweight Google Inc. (Nasdaq: GOOG), while Research In Motion Ltd. (TSE: RIM) received a brokerage recommendation.

In economic news, U.S. chain store sales fell 0.4% in the final week of October, according to Redbook Research, a publisher of statistics on U.S. Retail Market. The decline is a worrisome sign of lower consumer demand.

Investors will also paying attention to a speech by U.S. Federal Reserve chairman Ben Bernanke, who will be in Texas at a summit on microfinance in the United States. The speech is likely to be academic in nature, but Bernanke’s words will be analyzed for clues about the current state of the U.S. economy and hints about future monetary policy action.