Tag - ANAD

Small-cap stocks pushed higher in early trading, buoyed by a sharp rally in the U.S. dollar and a pullback in crude oil prices, which helped offset renews jitters about financial stocks after Thursday’s rout. At 10:02 a.m. ET, the Russell 2000 (NYSE:IWM) was up 7.46, or 1.05% at 720.87.

The market is on notice once again about the credit crunch after American International Group (NYSE:AIG) reported huge debt write downs Thursday. Financial shares were starting out on a weak note today as well, pulled down by sloppy results from Fannie Mae (NYSE:FNM) as the government-sponsored mortgage lender missed the forecast and slashed dividends. FNM shares were off 15% shortly after the open and its sister company Freddie Mac (NYSE:FRE) was down 5%. Financial stocks were pounded Thursday and could be on the defensive again ahead of the weekend. Bank of America Corp. (NYSE:BAC) was down 1.5% after an analyst downgrade.
 
The big story today is a dramatic rally in the U.S. dollar overnight, which exploded 1.5%, or more than 230 basis points against the euro. And although the extreme move versus the euro will capture the most attention, the greenback was busy flexing its muscles all over the world. For instance, the dollar made 17-month highs against the British pound, 11-month highs against the New Zealand kiwi, 12-month highs against the Canadian looney and 5-month highs against the Swiss franc...

Anadigics Inc. (Nasdaq:ANAD), Advanced Battery Technologies Inc (Nasdaq:ABAT) and Knot Inc (Nasdaq:KNOT) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.       

Also included among the results: Progenics Pharmaceuticals Inc (Nasdaq:PGNX), Arena Pharmaceuticals Inc (Nasdaq:ARNA), Noble International (Nasdaq:NOBL), PowerSecure International Inc (Nasdaq:POWR), Magma Design Automation Inc (Nasdaq:LAVA) and Cytori Therapeutics Inc (Nasdaq:CYTX).    

Here are the most actively traded companies among small caps:     

Shares of Anadigics, Inc. (Nasdaq:ANAD) are swooning in pre-market trading after the provider of semiconductors for broadband wireless and wireline communications markets said late Thursday that it is lowering its third quarter financial guidance on account of a decline in product demand from its wireless handset customers. Additionally, the company reported that it will delay the previously announced acceleration of investment in wafer capacity plans in Kunshan, China.

Shares crumbled 22%, or $1.32, to $4.61 in pre-market trading. For detailed price information and recent news stories about Anadigics, click ANAD.

Preferred Bank (Nasdaq:PFBC), Anadigics Inc (Nasdaq:ANAD) and Sonic Solutions (Nasdaq:SNIC) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Wavecom (Nasdaq:WVCM), Arkansas Best Corp (Nasdaq:ABFS), First Place Financial Corp Ohio (Nasdaq:FPFC), Prestige Brands Holdings Inc (Nasdaq:PBH), SeaBright Insurance Holdings Inc (Nasdaq:SEAB) and FormFactor Inc (Nasdaq:FORM).

Here are the biggest percentage losers among small caps:

Semiconductor solutions provider ANADIGICS Inc. (Nasdaq:ANAD) is down 28% today after reporting a bleak third-quarter financial outlook after the close on Tuesday. The company anticipates third-quarter sales of $75 million to $81 million with earnings per share between $0.10 and $0.14 per share, below Wall Street estimates of  $0.16 per share on revenues of $83 million.

After the open today, analysts at Piper Jaffray initiated coverage of ANADIGICS with a “neutral” rating.  At 10:23 a.m. ET, Warren, N.J.-based ANADIGICS is at $6.31, down $2.56 from Tuesday’s close. Trading volume has soared above 3 million shares.

Anadigics Inc (Nasdaq:ANAD), UAL Corp (Nasdaq:UAUA) and Dendreon Corp (Nasdaq:DNDN) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Skywest Inc (Nasdaq:SKYW), TriQuint Semiconductor Inc (Nasdaq:TQNT), Canadian Solar Inc (Nasdaq:CSIQ), Aehr Test Systems (Nasdaq:AEHR), EarthLink Inc (Nasdaq:ELNK) and Metabolix Inc (Nasdaq:MBLX).

Here are the most actively traded companies among small caps:

CommVault Systems Inc (Nasdaq:CVLT), Akeena Solar Inc (Nasdaq:AKNS) and Emcore Corp (Nasdaq:EMKR) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $750 million.

China Sunergy Co Ltd (Nasdaq:CSUN), Anadigics Inc (Nasdaq:ANAD) and Silicon Image Inc (Nasdaq:SIMG) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Stocks managed to eek out gains for the first day after two straight sessions of red, as investors shrugged off Ambac Financial Group Inc.'s (NYSE:ABK) lackluster outlook and embraced better-than-expected results from a range of technology companies.

The Russell 2000 (NYSE:IWM) ended the day up 4.40 points, or 0.66%, to a level of 708.11, while the Dow gained 42.99 points, or 0.34%, to a level of 12763.22.

Trading was choppy for the day as investors digested a slew of earnings news from technology, industrial, tobacco, banks and commodity producers.

A large percentage advance was registered early today in Sirtris Pharmaceuticals (Nasdaq:SIRT), with the stock up a whopping 82% on news that GlaxoSmithKline (NYSE:GSK) would buy the company for $720 million . . .

Sirtris Pharmaceuticals Inc. (Nasdaq:SIRT), Zoll Medical Corp. (Nasdaq:ZOLL) and Green Bankshares, Inc. (Nasdaq:GRNB) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Silicon Graphics, Inc. (Nasdaq:SGIC), Anadigics, Inc. (Nasdaq:ANAD) and SenoRx, Inc. (Nasdaq:SENO) are also among the top small-cap percentage gainers.

Here are Wednesday's biggest percentage gainers among small caps

Small-cap stocks are slightly higher after fluctuating during morning trading. At 11:37 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.1, or 0.72%, at 708.81, as the market trimmed away opening gains in choppy action.

A large percentage advance was registered early today in Sirtris Pharmaceuticals (Nasdaq:SIRT), with the stock up a whopping 82% on heavy volume on news that GlaxoSmithKline (NYSE:GSK) would but the company for $720 million in cash. ANADIGICS Inc. (Nasdaq:ANAD) was up 24% following earnings results yesterday, and Silicon Graphics (Nasdaq:SGIC) was up about 23% after a heavy sell-off on Tuesday.

On the downside, Daktronics (Nasdaq:DAKT) was down 23% after sloppy earnings. Buckeye Technologies Inc. (NYSE:BKI) was down 22% after the maker of cellulose-based specialty products cut its third-quarter earnings forecast to below Wall Street expectations. Rimage Corp. (Nasdaq:RIMG) was down 21% after releasing . . .

Small-cap stocks opened modestly higher after a see-saw overnight session. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.26, or 0.04%, at 703.45, as the market trimmed away opening gains in choppy action. Stability in the foreign exchange market, a decent batch of overnight earnings and mild short profit-taking provided mild support for stocks but the market appeared to be searching for a more dynamic directional bias this morning.

The U.S. dollar was up modestly at the beginning of U.S. trading and crude oil was down a couple bucks off Tuesday’s record high, which may have prompted a mild sigh of relief that the moves weren’t immediately extended. Still, the issue of a sluggish economy, coupled with rising food and energy costs, remains a major roadblock for equity market bulls. A USA Today poll said that rising food costs were a “significant” worry for Americans, with 73% of respondents citing higher grocery bills as a concern.

The market has seen quite a bit of daily volatility in recent days, with percentage moves in the 2% or more range every other day for six sessions. If that pattern holds true today, then this will be the “quiet” day on the rollercoaster ride. From a charting standpoint, the Russell has support today near 700, 695 and then a window . . .

Sirtris Pharmaceuticals Inc. (Nasdaq:SIRT), P.F. Chang's China Bistro (Nasdaq:PFCB) and Anadigics, Inc. (Nasdaq:ANAD) are among the most actively traded companies in Wednesday's pre-market trading among those with market capitalizations under $750 million.

YRC Worldwide Inc. (Nasdaq:YRCW), Packeteer, Inc. (Nasdaq:PKTR) and FuelCell Energy, Inc. (Nasdaq:FCEL) 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:

CV Therapeutics, Inc. (Nasdaq:CVTX), Geron Corp. (Nasdaq:GERN) and ANADIGICS, Inc. (Nasdaq:ANAD) are among the most actively traded companies in Friday's pre-market trading among those with market capitalizations under $750 million.

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq:CNTF), China Sunergy Co., Ltd. (Nasdaq:CSUN) and Zoran Corp. (Nasdaq:ZRAN) are also among the most actively traded small-cap companies in pre-market trading.

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

The Russell 2000 (NYSE: IWM) closed lower for the fifth consecutive session on news of more subprime fallout and tech sector woes. The small-cap index declined 3.24 points, or 0.47%, to 680.98. The Dow Jones Industrial Average (INDU) lost 45.10 points, or 0.37%, to 12,213.80.

On a year-to-date basis, the Russell 2000 is missing 11.10%, while the Dow is down 7.92% and the S&P 500 has retreated 9.64%.

The bears dominated trading and small-cap stocks spent the entire session in negative territory. With no major economic releases scheduled, investors focused on corporate news.

Citigroup Inc. (NYSE: C) reported before the opening that it may have to cut as many as 30,000 jobs over the next year and a half due to writedowns related to the subprime mortgage mess. Additionally, Citigroup might need to raise more capital to get over the credit crunch.

Contributing to the bearish sentiment was Santa Clara, Calif.-based chip maker Intel Corp. (Nasdaq: INTC), which announced after the close on Monday that it has lowered its first-quarter gross margin forecast to 54% from 56% earlier.

Small-cap stocks declined, with Jackson Hewitt Tax Service Inc. (NYSE: JTX) being one of the biggest losers. Before the opening the Parsippany, N.J.-based company posted third-quarter net income of $18.2 million, or $0.61 per share, a 34% decline from a year earlier.

The Russell 2000 (NYSE: IWM) posted a decline following news of more bleak economic reports. The small-cap index fell 1.96 points, or 0.29%, to 684.22, its fourth consecutive decrease. The Dow Jones Industrial Average (INDU) lost 7.49 points, or 0.06%, to 12,258.90.

On a year-to-date basis, the Russell 2000 has lost 10.68%, while the Dow is down 7.58% and the S&P 500 has shed 9.33%.

The U.S. economy again took center stage today as twin government reports again raised fears of a recession. Stocks fell on Friday after an inflation gauge came in higher than expected and a measure of regional business conditions disappointed.

Today’s bad news came in the form of a report from the U.S. Census Bureau after the opening that construction spending fell a more-than-expected 1.7% in January to an annual rate of $1.121 trillion. On a year-over-year basis, construction spending is down 3.3%.

Meanwhile, the Institute for Supply Management said after the start of trading that its manufacturing index declined to 48.3 in February from 50.7 in January. Economists were expecting to see a steeper decline. Readings below 50 indicate a contraction.

New orders, inventories, production and employment all posted declines, while the backlog of orders increased.

The Russell 2000 dropped out of the get then rose to its session high of near 689 points at about 10:30 a.m. ET before falling again. Small-cap stocks bottomed out at 3 p.m. ET at a level of 675 but rallied in the last hour of trading.

The Russell 2000 (NYSE: IWM) posted a big rise following news of a surprising increase in U.S. retail sales in January. The small-cap index gained 16.45 points, or 2.33%, to 721.93, its third consecutive increase. The Dow Jones Industrial Average (INDU) advanced 178.83 points, or 1.45%, to 12,552.24.

On a year-to-date basis, the Russell 2000 has dropped 5.76%, while the Dow is missing 5.37% and the S&P 500 has fallen 6.89%.

Stocks small and large opened with a jump on news that retail sales rose 0.3% to $382.9 billion in January, according to the U.S. Commerce Department reported. The results beat economists’ forecast of a 0.2% decline and represent an improvement over December’s 0.4% drop.

Sales excluding autos also increased 0.3%, more than the projected 0.2%. Sales excluding gasoline rose just 0.1%.

The data put investors in a bullish mood, easing fears that a pullback in consumption that will send the economy into recession. Consumer spending is about 70% of U.S. gross domestic product.

But Arun Raha, vice president of Economic Research and Consulting for the North American operations of reinsurance company Swiss Re, cautions against reading too much into the data.

“While this was definitely better than another decline, it is not enough to ease fears that the economy remains weak, and that consumer spending is softening,” Raha said in a phone interview.

The numbers show that much of the gains were due to higher sales of cars and gasoline, while sales of many other goods declined.

A separate report by the Commerce Department showed that business inventories climbed by a greater-than-expected 0.6% in December, while business sales fell 0.5%.

That’s a sign of a weakening economy.

“The risk of recession in the 12 months remains elevated at around 55%,” Raha said.

The bulls nevertheless went on a rampage today, gaining strength as the session went on and making the Russell 2000 the biggest winner among the major U.S. indices.

Here are the day’s biggest percentage gainers and losers, along with top volume leaders, among companies with a market cap between $100 million and $750 million:

The Russell 2000 (NYSE: IWM) has added speed to a rally that began on news that U.S. retail sales posted a surprise increase in January. At 3:26 p.m. ET, the small-cap index had climbed 14.37 points, or 2.04%, to 719.85. The Dow Jones Industrial Average (INDU) had added 176.64 points, or 1.43%, to 12,550.05.

Small-cap stocks have improved on their earlier gains, which came after news that retail sales rose 0.3% to $382.9 billion in January, the U.S. Commerce Department reported before the start of trading. The results beat economists’ forecast of a 0.2% decline and represent an improvement over December’s 0.4% drop.

The major U.S. indices have been in the green since the opening, with the Russell 2000 and the tech-heavy Nasdaq leading the way. At about 3 p.m. ET, the small-cap index posted a gain of 2% for the first time in the session.

In more economic news, a report by the Commerce Department after the opening said that business inventories climbed by a greater-than-expected 0.6% in December, while business sales fell 0.5%.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index is ready to rise on news of January U.S. retail sales.

Small-cap stocks are set for a bullish opening following news that retail sales unexpectedly rose 0.3% in January. That beats economists’ forecast of a decline of 0.2% and is an improvement over December’s 0.4% drop.

Sales excluding autos also increased 0.3%, more than the projected 0.2%.

The numbers are good news for those worried that there is a pullback in consumption that will send the economy into recession.

Although the retail sales report represents the biggest calendar event risk of the week, the 10:00 a.m. ET business inventory data might generate a minor ripple in trading later in the morning.

Daily support and resistance levels remain static after Tuesday’s range-bound action: look for support today at 688, 680 and 674, with resistance at 710 and 721.

The Russell 2000 (NYSE: IWM) futures are higher but the small-cap index could be weighed down by news of poor housing starts.

The slump in the housing sector has apparently deepened, according to a report by the U.S. Census Bureau that shows a decline in December housing starts.

Housing starts fell 14% to a seasonally adjusted annual rate of 1.006 million units, below November’s downwardly revised total of 1.173 million. Economists were expecting to see a smaller drop to 1.15 million.

What’s worse, the housing sector does not appear to be headed for recovery.

That’s because building permits, a sign of future construction, fell 8.1% to an annual rate of 1.068 million units. Economists were expecting a smaller decline.

In other economic news, investors will be paying attention to U.S. Federal Reserve chairman Ben Bernanke’s congressional testimony. Concerns about the overall state of the economy have increased calls for some sort of response to prevent a recession.

Observers and economists widely expect the Fed to lower its target interest rate when it next meets on Jan. 29 and 30.

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:

• Comtech Group, Inc. (COGO), up 10% on news it has reaffirmed its 2007 guidance due to strong business.
• Smith & Wesson Holding Corp. (SWHC), up 8%.
• Brigham Exploration Co. (BEXP), up 7% on news it has discovered three wells.

Biggest percentage losers:

• Jones Soda Co. (JSDA), down 4% on news of an analyst downgrade.
• Provident Bankshares Corp. (PBKS), down 4% on news of a fourth-quarter loss.
• ANADIGICS, Inc. (ANAD), down 3%.

The Russell 2000 (NYSE: IWM) managed just a modest win today despite a strong start on speculation of an imminent interest rate cut. The small-cap index added 1.71 points, or 0.22%, to 767.77. The Dow Jones Industrial Average (INDU) moved up 59.99 points, or 0.45%, to 13,371.72.

On a year-to-date basis, the Russell 2000 has lost 2.50%, while the Dow has advanced 7.19% and the S&P 500 is up 4.56%.

The day’s economic news was decidedly negative, with reports showing that Americans’ income and consumption growth slowed while spending on construction declined more than expected.

The U.S. Commerce Department reported that consumption increased 0.2% in October, below the projected 0.3%. Consumption increased 0.3% in September. That could be a sign that American consumers have decided to curtail spending due to higher energy prices, tighter credit and the ongoing slump in the housing sector.

October personal income added 0.2%, below economists’ expectations and half the 0.4% rise it booked in September.

The housing sector also contributed bleak news. The U.S. Census Bureau announced that construction spending for October fell a greater-than-expected 0.8%. Predictably, residential construction led the way down, dropping 2% from the level in September and 15.8% from the level a year ago.

On a year-to-date basis, construction spending has amounted to $977 billion, 2.8% below the $1,005.3 billion recorded during the first ten months of 2006.

Nevertheless, stocks opened in positive territory as investors speculated that U.S. Federal Reserve will cut its target interest rate when it meets on Dec. 11.

The Russell 2000 (NYSE: IWM) and the other major indices posted solid gains today on news that Citigroup Inc. (NYSE: C) received a cash injection of $7.5 billion. The small-cap index added 8.20 points, or 1.12%, to 743.27. The Dow Jones Industrial Average (INDU) rose 215 points, or 1.69%, to 12,958.44.

On a year-to-date basis, the Russell 2000 has shed 5.61%, while the Dow has added 3.88% and the S&P 500 has advanced 0.82%.

The futures were pointing up and stocks climbed out of the gate on news after the close on Monday that the Abu Dhabi Investment Authority has purchased a 4.9% stake in the largest U.S. bank for $7.5 billion.

The cash will help New York-based Citigroup better deal with billions of dollars in losses due to the purchase of securities backed by subprime mortgages. News came out on Monday that Citi, which suffered a loss in the third quarter, may have to slash as many as 45,000 workers from its payroll in an effort to return to profitability.

Today the bank was a bullish force on Wall Street, even though some analysts suggested that Citi may still need to raise more capital.

Stocks were rising steadily until 10 a.m. ET, when the Conference Board reported a larger-than-expected drop in consumer confidence for November.

The business organization said that its index of consumer confidence fell to 87.3 from a downwardly revised level of 95.2 in October. That’s the lowest reading since the aftermath of Hurricane Katrina in October 2005 and a sign that Americans are getting more tightfisted in the face of higher energy costs and declining home prices.

BIDZ.com, Inc. (Nasdaq: BIDZ), China Finance Online Co. (Nasdaq: JRJC) and Genesco Inc. (NYSE: GCO) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

Shares of Travelzoo Inc. (Nasdaq: TZOO) plunged $6.18, or nearly 17%, to $30.70 on heavy volume in after-hours trading after the New York-based Internet media company missed analysts’ earnings and revenue estimates for the first quarter ended March 31. Travelzoo posted net income of $4.1 million, or $0.25 per share, on revenue of $19.7 million. Five analysts polled by Thomson First Call were, on average, expecting earnings of $0.32 per share on revenue of $20.4 million. Travelzoo Chairman and CEO Ralph Bartel said the company invested nearly $7 million in subscriber acquisition and marketing during the quarter.

Shares of Anadigics Inc. (Nasdaq: ANAD) sunk $1.35, or 10.3%, to $11.80 on heavy volume in after-hours trading after news the company missed analysts’ earnings estimates for the first quarter ended March 31. The Warren, N.J. supplier of wireless and broadband communications solutions posted a net loss of $1.2 million, or $0.02 per share, on sales of $49.6 million for the quarter. Ten analysts polled by Thomson First Call, on average, estimated earnings per share of $0.06 on revenue of $50.3 million. For the second quarter ended June 30, Anadigics predicted net income per share on a GAAP basis to be about $0.01 to $0.02, which on a pro forma basis, excluding non-cash stock compensation expense, approximates $0.09 to $0.10 per share. Analysts are expecting earnings per share of $0.09 for the quarter.

Hutchinson Technology Inc. (Nasdaq: HTCH) fell $1.60, or 7.2%, to $20.51 in active after-hourse trading after the firm reported a net loss of $3.6 million, or $0.14 per share, on revenue of $170.7 million for its fiscal second quarter ended March 25. Ten analysts polled by Thomson First Call were expecting, on average, earnings per share of $0.09 on revenue of $184 million. The Hutchinson, Minn.-based supplier of suspension assemblies for disk drives cited market conditions. Hutchinson president and CEO Wayne M. Fortun said that suspension assembly pricing is becoming more competitive.