Tag - ARNA

Syms Corp. (Nasdaq:SYMS), MAP Pharmaceuticals Inc. (Nasdaq:MAPP) and Rome Bancorp Inc. (Nasdaq:ROME) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CAI International Inc. (Nasdaq:CAP), Arena Pharmaceuticals Inc. (Nasdaq:ARNA), Vitran Corp Inc. (Nasdaq:VTNC), Yadkin Valley Financial Corp. (Nasdaq:YAVY), Northern Technologies International Corp. (Nasdaq:NTIC) and Kohlberg Capital Corp. (Nasdaq:KCAP).

Stocks are trading lower today as fearful investors brace themselves in anticipation of poor earnings reports that will begin being released this week.

At 1:40 pm ET, the Russell 2000 (NYSE:IWM) is down 14.55, or 3.19%, at 441.58, while the Dow is down 1.75% at 7,877.09 and the S&P 500 is down 2.09% at 824.93.

Small caps bucking the trend today include SumTotal Systems (Nasdaq:SUMT), up 47% after receiving a buyout offer. Legacy Reserves (Nasdaq:LGCY) is also climbing 29% today after receiving a proposal from Apollo Management to acquire all outstanding units of the company at a cash purchase price of $14 per unit.

******Time flies. Seems like earnings season just ended and yet here we are again. But first-quarter earnings kick off tomorrow with Alcoa (NYSE:AA).

Given how far the stock market has come over the last three weeks, you might think stock prices are set up for a fall as the reality of earnings dashes the enthusiasm that economic recovery is at hand.

Earnings will be bad. S&P 500 companies are expected to report that earnings are down around 35% from the year-ago quarter. And earnings were already falling then.

But don’t forget, stocks have been rallying because investors are anticipating an economic recovery. Though there have been some subtle signs that the economy is starting to improve, it hasn’t happened yet. In other words, nobody expects Q1 earnings to be good.

This earnings season is going to be all about guidance. What do companies see in the future? Will they be willing to say things look better? And more importantly, will any optimism be reflected in revenues and earnings forecasts?

That’s what investors will be focused on. I’d say it’s an “even money bet” whether stocks are higher or lower when earnings season wraps up a few weeks . . .

"Don't risk the house on our latest pick; it is a highly speculative bet on Phase III data results due soon from Arena Pharmaceuticals (Nasdaq:ARNA)," says Ian Cooper in SC Trading Pit.

After a nice a 50% retracement from pumped highs of $7+ (which we nailed perfectly), it's time to go long with the underlying stock.

"But please don't risk the house on these positions. We're playing a hopeful run up on speculation heading into Phase III data and a win is unfortunately never a guarantee.

"We've been watching shares of Arena Pharmaceuticals since mid-2007... and for good reason. Right now, 30% of Americans are obese, according to the Centers for Disease Control and Prevention, as compared to 14.6% in 1971. So the obesity treatment market is obviously huge.

"And for Arena, it could be an absolute gold mine. You see, if all goes well in coming weeks, Arena could take a commanding position in that very market, pegged at more than $10 billion.

"At any given time, it's estimated that 70 million Americans are trying to lose weight, and spending billions to do so. Imagine if a $483 million company like Arena was to tap that market? It'd never see the single-digits again.

"Sure, there are three obesity drugs on market right now. But none of them are blockbuster drug-worthy and carry severe side effects.

"Arena's Lorcaserin works by stimulating the 5-HT2c serotonin receptor in the hypothalamus which affects 'fullness' (or satiety) and metabolic rate. Its goal: to produce a minimum 5% loss of body weight for patients taking the drug.

"Naturally, any oral drug that can help people shed unwanted weight and have minimal side effects is going to be huge. The opportunity for the company . . .

Stocks climbed higher into the midday despite a credit rating cut for large-cap benchmark General Electric Co. (NYSE:GE).

At 12:45 pm ET, the Russell 2000 (NYSE:IWM) is up 11.02, or 3.01%, to 377.32. The Dow is up 1.8%, finally above the 7,000 mark, and the S&P 500 is up 1.94% to 735.39.

The cut on GE’s credit rating did little spark fear in investors, who had expected deeper cuts for the large-cap company. GE is currently up 12%. Small-cap automaker General Motors (NYSE:GM) is also helping to buoy the Dow this afternoon, after GM’s CEO reported the company will not need the $2 billion loan for March that it previously requested from the U.S. government.

Earlier this morning unemployment and retail sales numbers were released, causing stocks to open lower. The Labor Department said first-time requests for unemployment insurance increased to 654,000 from the previous week's figure of 639,000, above analysts' expectations. The government also reported that retail sales fell in February for the seventh time in the past eight months. Retail sales edged down 01% last month, less severe than the 0.5% drop that economists had expected. 

A 34% gain in seven days

As promised, SmallCapInvestor PRO readers took their gains on Arena Pharmaceuticals (Nasdaq:ARNA) on Wednesday. The final haul was 34%. Not bad for holding a stock for seven days. I expect we’ll re-buy Arena if it drops to $4.50 over the next few days.

I hope Small-Cap Daily readers were able to lock in some gains on the stocks we recently recommended here.

*****The next few days should be interesting for the stock market. I’m a bit surprised that the major indices finished in the green on Wednesday. I’ll be more surprised if they finish with gains today.

Congress will be discussing mark-to-market rules today. It’s a safe bet that some kind of easing of these rules will happen. That would essentially buy the banks some time that could be better spent than writing down assets and taking losses. And . . .

Stocks opened in the green and are continuing their positive trot through midday, buoyed by Tuesday’s news that beleaguered Citigroup (NYSE:C) is operating at a profit.

At 12:27 pm ET, the Russell 2000 (NYSE:IWM) was up 1.39, or 0.38%, at 369.14, while the Dow was up 0.02% at 6,927.77, and the S&P 500 was up 0.22% at 721.18.

Like Tuesday, financial stocks are leading the markets higher today on the Citigroup news, while tech stocks are also seeing a boost after large-cap benchmark Hewlett-Packard’s rating was upgraded.

While the market seems to be in recovery mode, don’t relax just yet. Analysts are warning that the rally will be short-lived and that there remain deep problems etched within the banking industry.

Small-cap stocks trending upward today include On Assignment, Inc. (Nasdaq:ASGN), 23% higher on lower-than-average volume, and YRC Worldwide Inc. (Nasdaq:YRCW), which is 11% higher despite making Moody’s “Bottom Rung List.” Axsys Technologies (Nasdaq:AXYS), a manufacturer of defense surveillance and imaging systems, is up 34% after the small cap put itself up for sale in an auction that drew a first round of bids earlier this week.

Global Markets Up …

Finally, early strength for stocks on Tuesday didn’t turn to weakness. In fact, . . .

Rambus Inc. (Nasdaq:RMBS), Geron Corp. (Nasdaq:GERN) and Palm Inc. (Nasdaq:PALM) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Central European Media Enterprises Ltd. (Nasdaq:CETV), TIBCO Software Inc. (Nasdaq:TIBX), Eclipsys Corp (Nasdaq:ECLP), Arena Pharmaceuticals Inc. (Nasdaq:ARNA), Silver Standard Resources Inc. (Nasdaq:SSRI) and Papa Johns International Inc. (Nasdaq:PZZA).

DryShips Inc. (Nasdaq:DRYS), ViroPharma Inc. (Nasdaq:VPHM) and Canadian Solar Inc. (Nasdaq:CSIQ) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Provident Bankshares Corp. (Nasdaq:PBKS), GT Solar International Inc. (Nasdaq:SOLR), Arena Pharmaceuticals Inc. (Nasdaq:ARNA), Verigy Ltd. (Nasdaq:VRGY), Palm Inc. (Nasdaq:PALM) and Ceradyne Inc. (Nasdaq:CRDN).

Small-cap stocks extended the morning rally into midday trading, boosted by surging commodity stocks, which more than offset sloppy action among financial shares. Some of today’s small-cap gainers are American Land Lease Inc (NYSE:ANL), Atlas Pipeline Holdings LP (NYSE:AHD) and Thermadyne Holdings Corp.  (Nasdaq:THMD).

Other Market Watch highlights today included:

• Copper, a key indicator of economic growth, mounted a bounce today, climbing nearly 4% in U.S. trading.  
• The bounce in crude oil prices helped lift energy stocks, with the Energy Select Sector SPDR Fund up 4.8%.  
• Crude oil prices jumped nearly $2.50 a barrel into mid-session despite a rise on weeKly inventory data.  
• The top-performing sectors were dominated by commodities: coal, gold, oil and gas drillers, aluminum, metal and mining shares are all up. 

Small Cap Gainers:

• American Land Lease Inc. is up 221% as the real estate investment trust agreed to a buyout for $14.20 a share, a 264% premium to Tuesday’s closing price. See (NYSE:ANL).
• Atlas Pipeline Holdings LP jumped 43% and appears set to close above the 20-day moving average for the first time since late September. See (NYSE:AHD).  
• Thermadyne Holdings Corp. surged 26% as the metal cutting and welding product maker benefited from the commodity rally. See (Nasdaq:THMD).  
• Brinker International Inc. rose 18% as the operator of Chili’s, Macaroni Grill and other restaurants continues to climb off the November lows. See (NYSE:EAT).  

Small Cap Losers:

• NOVA Chemicals Corp. is off 12%, setting fresh 52-week lows a day after the Canadian plastics manufacturer announced that the CEO would retire next spring. See (NYSE:NCX).
• ADC Telecommunications Inc. tumbled 15% after releasing quarterly results. See (Nasdaq:ADCT).  
• Arena down 12% in pre-market after insomnia drug candidate fails in study. See (Nasdaq:ARNA).  
• Metalico files shelf registration, shares down 2% in after hours. See (NYSE:MEA).

Small-cap stocks opened higher, bolstered by hope that a rescue package for embattled U.S. automakers is finally within reach. Still, Republican lawmakers have been threatening some type of filibuster, so tension about the proposed $15 billion bailout remains high. Worries about fresh corporate profit warnings could take some starch out of buying enthusiasm, but an early bounce in commodities should provide support to stocks with commodity themes.  Some of today’s small-cap gainers are DryShips (Nasdaq:DRYS), Excel Maritime (NYSE:EXM) and Eagle Bulk Shipping (Nasdaq:EGLE).

Other Market Watch highlights today included:
•    Crude oil prices were on the rebound this morning, climbing about $2 a barrel amid talk of OPEC production cuts.  
•    The wholesale inventory report came out at minus 1.1%, which was quite a bit worse than the forecast for a drop of 0.1%.  
•    Republican lawmakers have been threatening some type of filibuster, so tension about the proposed $15 billion bailout remains high.  
•    Today watch to see how miners react to news that Rio Tinto (3rd-largest mining co.) will slash 13% of its workforce, reduce capital spending.

Small Cap Gainers:

• Drybulk shippers are rallying again today with DryShips Inc. up 21%, Excel Maritime Carriers Ltd. up 17% and Eagle Bulk Shipping Inc. up 15%. See (Nasdaq:DRYS), (NYSE:EXM) and (Nasdaq:EGLE).  
• South African paper maker Sappi Ltd. jumped 16% with the overall commodities rise and as South African shares in general were in rally mode this morning. See (NYSE:SPP).  
• Arc Sight Inc. rallied 13% as the security solutions provider got an earnings-related lift. See (Nasdaq:ARST).  
• West Coast Bancorp to open new branch in Dundee, Oregon on Jan. 5; shares up 4% in after hours. See (Nasdaq:WCBO).

Small Cap Losers:

• ADC Telecommunications Inc. tumbled 15% after releasing quarterly results. See (Nasdaq:ADCT).  
• Arena down 12% in pre-market after insomnia drug candidate fails in study. See (Nasdaq:ARNA).  
• Metalico files shelf registration, shares down 2% in after hours. See (NYSE:MEA).

Dendreon Corp. (Nasdaq:DNDN), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) and Finish Line Inc. (Nasdaq:FINL) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Investors Real Estate Trust Units (Nasdaq:IRET), Clean Energy Fuels Corp. (Nasdaq:CLNE), China Sunergy Co Ltd. (Nasdaq:CSUN), A Power Energy Generation Systems Ltd. (Nasdaq:APWR), Arena Pharmaceuticals Inc. (Nasdaq:ARNA) and Canadian Solar Inc. (Nasdaq:CSIQ).

Here are the most actively traded companies among small caps:

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 Arena Pharmaceuticals Inc. (Nasdaq:ARNA) are slightly above the flat line following news before the start of trading that an independent safety monitoring board gave a positive review of the company’s obesity drug. The Echocardiographic Data Safety Monitoring Board conducted a 12-month study that showed the drug Lorcaserin does not adversely affect the heart, the San Diego-based company said in a statement.

At 3:03 p.m. ET, shares had climbed $0.18, or 3%, to $6.49.

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) said today that it is moving forward with its clinical trial for lorcaserin hydrochloride for the treatment of obesity following a review by an independent Echocardiographic Data Safety Monitoring Board. Shares gained 10.1%, or $0.64, to $6.95 in pre-market trading.

For detailed price information and recent news stories about Arena Pharmaceuticals, click ARNA.

Vanda Pharmaceuticals Inc. (Nasdaq: VNDA), Trump Entertainment Resorts, Inc. (Nasdaq: TRMP) and Smith & Wesson Holding Corp. (Nasdaq: SWHC) are among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $750 million: