Tag - ATRC

Selling interest today was offset by optimism over steady declines for inter-bank lending rates and ideas the bad news on the economy has already been priced into the stock market. The Russell 2000 (NYSE:IWM) closed up 0.18%, posting a fifth-consecutive higher close, something that hasn’t happened since April. Today’s small-cap gainers are CVR Energy (NYSE:CVI), Arbor Realty Trust (NYSE:ABR) and Safe Bulkers (NYSE:SB).

Other Market Watch highlights today included:

• The ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42% and marked the lowest manufacturing activity index in 26 years.
• For the year, the Russell is now down 30%, while the Dow is off 30% and the S&P 500 is down 34%.
• Today's trading was easily the calmest session seen since the collapse began back in mid-September.
• Airlines appeared to get a lift from another pullback in crude oil prices, which were down $3.90 a barrel, or about 5.7%.
• The AMEX Airline Index rose 5.6% to the highest point since Sep. 22 and is now up 85% since the Oct. 10 low. 
• Wireless telecoms were the top performers, followed by tire and rubber stocks, multiline insurers, life health insurers, glass and metal container stocks, gold and aluminum.
• Casinos were out of favor so far today after posting solid gains late last week. Oil exploration and oil production stocks were also down, as were department stores, home improvement retail, automotive retail and oil and gas storage . . .

Small-cap stocks weathered dreadful manufacturing data, plunging car sales, slumping energy stocks and ongoing worries about the economy to post a minor gain Monday. Selling interest was offset by optimism over steady declines for inter-bank lending rates and ideas the bad news on the economy has already been priced into the stock market. The Russell 2000 (NYSE:IWM) closed up 0.97, or 0.18% at 538.50, posting the fifth consecutive higher close, something that hasn’t happened since early April. For the year, the Russell is now down 30%, while the Dow is off 30% and the S&P 500 is down 34%.

The market opened higher in line with yet another decline in Libor lending rates overnight, and was also bolstered by a gain in Asian stock markets. Even after the ISM Manufacturing Survey missed the forecast, small-cap stocks were reluctant to press the downside. It was interesting to note that today’s range of about 10 handles marked the smallest daily trading range since Aug. 26 and was easily the calmest session seen since the collapse began back in mid-September.

Perhaps some of the calm was tied to investors staying away from the market during a week of heavy economic event risk, or perhaps they were reluctant to aggressively take on positions ahead of Tuesday’s presidential elections in the U.S. Barack Obama is widely expected to carry the popular vote and usher in a transition to the White House, but market watchers are still keenly watching how the Senate and House races shape up. There is some thought that a huge sweep by the Democrats could spark some unrest for the stock market on the idea that the country tends to prefer a “balance” between parties in power.

As for the ISM Manufacturing report, it came in at 38.9%, well below the 50% line indicative of contraction in the manufacturing sector. The data clearly suggest that the economy has downshifted into recession-style economic activity, and today’s individual automaker vehicle sales numbers certainly didn’t paint a . . .

Small-cap stocks remained moderately higher into the mid-session time frame, with support from lower inter-bank lending rates and analyst upgrades on key technology and retailer firms offset by a somber reading on manufacturing activity. Today’s small-cap gainers are Arbor Realty Trust Inc. (NYSE:ABR), Advanced Medical Optics Inc. (NYSE:EYE) and CVR Energy (NYSE:CVI).

Other Market Watch highlights today included:

• The market was trading in very tame fashion today, holding a relatively slim trading range while being devoid of the massive volatility.  
• The U.S. dollar was firm against the euro, which also hindered upside in commodity products.  
• Crude oil prices were down about 3%, which likely anchored down energy stocks.
• Oil exploration and oil production stocks were down, as were department stores, home improvement retail, automotive retail and oil and gas storage stocks.  
• Casinos were out of favor so far today after posting solid gains late last week.

Small Cap Gainers:

• Arbor Realty Trust Inc. is up about 42% climbing above the 20-day moving average for the first time in a month. See (NYSE:ABR).
• Advanced Medical Optics Inc. is surging 24% following solid earnings news from Friday. See (NYSE:EYE).  
• CVR Energy Inc. is rallying nearly 24%, extending a big rally that started Friday. It's set to release earnings Thursday. See (NYSE:CVI).  
• China Sunergy announces it will report Q3 results on Nov. 25; shares pop 20%. See (Nasdaq:CSUN).

Small Cap Losers:

• Saga Communications careening 15% ahead of its earnings release tomorrow. See (NYSE:SGA).
• LandAmerica Financial Group to lay off 105 employees, shares down 16%. See (NYSE:LFG).
• Lydall, Inc. down 21% on lower Q4 results due to weak automotive market. See (NYSE:LDL).  
• AtriCure Inc. is tumbling 43% on news that the firm is under investigation by the Department of Justice for potential false claims on the company’s surgical devices. See (Nasdaq:ATRC).

Small-cap stocks pushed modestly higher on the opening, and were still holding in positive territory after a dreadful manufacturing report slashed away gains in large-cap index products. Today’s small-cap gainers are Ultrapetrol Limited (Nasdaq:ULTR), Seneca Foods Corp. (Nasdaq:SENEA) and Orion Marine Group Inc. (NYSE:OMGI).

Other Market Watch highlights today included:

• Now that ISM is out of the way, focus will return to debate about the U.S. elections. Since 1900, the stock market has averaged a gain of nearly 10% in the 12 months following a Democrat transition into the White House.  
• The ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42% and marked the lowest manufacturing activity index in 26 years.  
• Small-cap stocks pushed modestly higher on the opening, and were still holding in positive territory after a dreadful manufacturing report slashed away gains in large-cap index products.
• The ISM figure is expected to come in at 42%, well below the 50% line that indicates contraction.  
• Heavy week for economic data risk: things kick off at 10:00 a.m. ET today with the ISM Manufacturing Survey and finish with a flourish Friday morning with the big employment report.  

Small Cap Gainers:

• Ultrapetrol Limited is up almost 50% in pre-market ahead of its Q3 earnings release next week. See (Nasdaq:ULTR).
• Seneca Foods Corp. is up 25%, gapping higher on light volume. See (Nasdaq:SENEA).  
• Orion Marine Group Inc. jumped 24.9%. See (Nasdaq:OMGI).  
• Safe Bulkers Inc. is up 12.8%, climbing above the 20-day moving average for the first time since early September. See (NYSE:SB).  
• SourceForge gaining 8.5% in pre-market, guides in line, sets stock buyback. See (Nasdaq:LNUX).


Small Cap Losers:

• AtriCure Inc. is tumbling 43% on news that the firm is under investigation by the Department of Justice for potential false claims on the company’s surgical devices. See (Nasdaq:ATRC).  
• Ness Technologies profit rises 121%; shares down 5% in pre-market. See (Nasdaq:NSTC).  
• Phoenix Companies down 12% as it slips to a loss in Q3. See (NYSE:PNX).  
• GMAC's bonds tumble after plan to exchange debt, shares dive over 10%. See (NYSE:GMA).  

Small-cap stocks pushed modestly higher on the opening, and were still holding in positive territory after a dreadful manufacturing report slashed away gains in large-cap index products. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 4.05, or 0.75%, at 541.57.

The ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42% and marked the lowest manufacturing activity index in 26 years.

Now that ISM is out of the way, focus will return to debate about the U.S. elections. The general perception right now is that Barack Obama will win the presidential election, which means market watchers will be looking to see whether or not Democrats win power in the Senate and House. Since 1900, the stock market has averaged a gain of nearly 10% in the 12 months following a Democrat transition into the White House. In addition, vehicle sales were slated to roll in today and could have an impact on automaker shares. The rate for vehicle sales is pegged at 12 million units.

Libor, or inter-bank lending rates, continue to decline and are now at the lowest point since the Lehman Brothers bankruptcy. The steady pullback in Libor rates is seen as a sign that frozen credit lines are thawing and that banks are more trusting on the lending front.

In company news this morning, Wal-Mart Stores Inc. (NYSE:WMT) was upgraded by analysts at JP Morgan and the world’s largest retailer was up 1.1% shortly after the open. Also on the analyst front, Merrill Lynch downgraded rival Goldman Sachs Group Inc. (NYSE:GS) and the investment bank was off 1.3%. Goodyear Tire and Rubber Co. (NYSE:GT) topped the earnings forecast and rallied 14.5%.

Individual small-caps of note were highlighted by Seneca Foods Corp. (Nasdaq:SENEA) was up 25%, gapping higher on light volume. Safe Bulkers Inc. (NYSE:SB) was up 12.8%, climbing above the 20-day moving average for the . . .

Amer Land Lease REIT (Nasdaq:ANL), Belden Inc. (Nasdaq:BDC) and Air Methods Corp. (Nasdaq:AIRM) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Parexel International Corporation (Nasdaq:PRXL), AtriCure Inc. (Nasdaq:ATRC), Kendle International Inc. (Nasdaq:KNDL), Hiveld Steel Depository Receipt (Nasdaq:HSVLY), Mercadolibre Inc. (Nasdaq:MELI) and Forest City Enterprises (Nasdaq:FCE.A).

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

Fairpoint Communications Inc. (Nasdaq:FRP), Isle of Capri Casinos Inc. (Nasdaq:ISLE) and KVH Industries Inc. (Nasdaq:KVHI) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AtriCure Inc. (Nasdaq:ATRC), Nexxus Lighting Inc. (Nasdaq:NEXS), Investors Title Co. (Nasdaq:ITIC), NewBridge Bancorp (Nasdaq:NBBC), Brookfield Homes Corp. (Nasdaq:BHS) and Providence Service Corp. (Nasdaq:PRSC).

Here are the biggest percentage losers among small caps:

AtriCure Inc. (Nasdaq:ATRC), Electro-Optical Sciences Inc. (Nasdaq:MELA) and Royale Energy Inc. (Nasdaq:ROYL) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.      

Also included among the results: Gilat Satellite Networks Ltd. (Nasdaq:GILT), Overstock.com Inc. (Nasdaq:OSTK), Fuqi International Inc. (Nasdaq:FUQI), PGT Inc. (Nasdaq:PGTI), SeaBright Insurance Holdings Inc. (Nasdaq:SEAB) and MarketAxess Holdings Inc. (Nasdaq:MKTX).   

Here are the biggest percentage gainers among small caps:  

Small-cap stocks pushed higher on the opening, supported by better-than-expected weekly unemployment claims numbers and solid May chain store sales figures. However, the market was still on edge about the re-emergence of credit crunch jitters and, to some degree, simply marking time before Friday’s big jobs report. At 9:52 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.91, or 0.79%, at 749.62.

The weekly claims report headline figure came in at 357,000, which was much better than the forecast of 375,000. Typically, the weekly claims data is a minor blip on the numbers agenda, but with the monthly employment report on tap Friday, investors had a little extra interest in the numbers this week. Also, the ADP payroll figures were surprisingly strong Wednesday, which raises hope that Friday’s big jobs release could carry a bullish surprise.

Chain store sales results have been pouring in this morning, sporting solid numbers for discounters in particular. Costco (Nasdaq:COST) same-store sales in May were up 9% and Wal-Mart (NYSE:WMT) reported a 3.9% rise in sales. Costco shares were up 1.9% after the opening, while Wal-Mart was up about 1.8%.

Investors are expected to keep a close watch on financial stocks again today, particularly Lehman Bros. (NYSE:LEH), which is at the eye of the latest credit crunch storm. Lehman Bros. shares were up 2.5% in early trading today. Federal Reserve vice chairman Donald Kohn is testifying about the banking system this morning before the Senate, Banking, Housing and Urban Affairs Committee.

The dollar relinquished overnight gains against the euro and is now down about 0.6% against that currency unit, but was still up nearly 0.8% versus the yen. A strong dollar should keep pressure on various commodity markets, and is seen as supportive to stocks at this stage of the economic cycle.

Speaking of commodities, crude oil prices were pushing higher into the stock market opening in line with the rise in the euro against the dollar, but were still well off the recent record highs and not that far away from four-week lows. The recent slide in energy prices has provided a little breathing room for airlines, which also stand to benefit from an analyst upgrade overnight on United Airlines (Nasdaq:UAUA) and Northwest Airlines (NYSE:NWA). United Airlines was up 6.8% after the . . .

SmallCapInvestor.com reporter Jennifer Schonberger is reporting from the 20th Roth Capital Partners Annual OC Growth Stock Conference this week in Dana Point, Calif. The conference features presentations from more than 300 small-cap companies.

AtriCure, Inc. (Nasdaq: ATRC), a developer of surgical devices designed to create precise lesions, or scars, in cardiac and soft tissues for patients with atrial fibrillation (AF), has experienced strong growth year-to-date, but CEO David Drachman said it is about to kick into high gear.

In an interview at the Roth OC Growth Stock Conference in Dana Point, Calif. on Wednesday, Drachman told SmallCapInvestor.com that AtriCure’s growth story will take flight by 2010 and 2011.
 
AtriCure has gone from two platforms in 2005 to eight platforms in 2008.

“If you look at our product platform in 2005, the platform was a bipolar ablation clamp, and a protection tool,” said Drachman. “If you look at the product platform in 2008, it’s a series of open heart bipolar ablation clamps, a series of minimally invasive endoscopic, bipolar ablation clamps, a multifunctional end system that can perform basic electrophysiology like matching cardiac arrhythmia … then there’s a whole platform of enabling technologies.”

By mid-March, the company expects to launch what it calls its cool rails linear ablation tank, which allows more ablation treatments during a minimally invasive approach to obtain more regular outcomes for more permanent patients.

AtriCure’s market share for surgical cardiac ablation devices on the open heart side is approximately 50%, according to Drachman, while its share of the invasive market could be 80% or higher.

AtriCure, Inc. develops and markets precise surgical devices, which create precise lesions used in cardiac and other soft tissue.

AtriCure Inc.  (NASDAQ: ATRC)
West Chester, OH  45069
http://www.atricure.com/ 

AtriCure, Inc. develops and markets precise surgical devices, which create precise lesions used in cardiac and other soft tissue.  Founded in 2000 by a group of medical device specialists, the company has since succeeded in creating a greatly enhanced ablation technology for the treatment of atrial fribulation (AF).  AF is a condition where erratic electronic signals to the heart cause the upper two chambers to quiver rather than beat effectively.  More than 2.5 million Americans are afflicted by AF each year, a condition which makes them five-times more likely to experience a stroke.