Tag - AVID

Every year in the Nevada desert the Consumer Electronics Show gives companies a chance to display their hot new technologies.

At the same time, the film industry is in the midst of its big awards season - so companies that make hardware and software for the big screen have a chance to gain recognition for their role in film development.

Savannah Bancorp Inc. (Nasdaq:SAVB), Take Two Interactive Software Inc. (Nasdaq:TTWO) and MarkWest Energy Partners L P (Nasdaq:MWE) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Tennant Co. (Nasdaq:TNC), Radware Ltd. (Nasdaq:RDWR), Avid Technology Inc. (Nasdaq:AVID), Swift Energy Co. (Nasdaq:SFY), K-Fed Bancorp (Nasdaq:KFED) and Bancorp Rhode Island Inc. (Nasdaq:BARI).

Hooker Furniture Corp. (Nasdaq:HOFT), Casella Waste Systems Inc. (Nasdaq:CWST) and Amer Land Lease  (Nasdaq:ANL) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hutchinson Technology Inc. (Nasdaq:HTCH), Vitran Corp Inc. (Nasdaq:VTNC), Big 5 Sporting Goods Corp. (Nasdaq:BGFV), Avid Technology Inc. (Nasdaq:AVID), Gmarket Inc. (Nasdaq:GMKT) and Innerworkings Inc. (Nasdaq:INWK).

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

In one of the more jarring and widely anticipated stock market openings in history, small-cap stocks plummeted to fresh bear market lows while hitting the lowest point since August 2003. The freefall was precipitated by a collapse in overseas markets amid profit warnings in Asia, ongoing worries about a worldwide economic slowdown and talk of forced liquidation. At 10:04 a.m. ET, the Russell 2000 (NYSE:IWM) was down 16.80, or 3.43%, at 473.12. An upside surprise in existing home sales helped stocks pare early losses.

Fear and dread ahead of today’s opening was heightened by limit-down losses and the activation of trading halt circuit breakers overnight in stock index futures. While a 5% opening slide ranks among the worst in history, there was actually some sense of relief among investors that the initial plunge wasn’t even worse than what we saw.

Existing home sales came in at 5.18 million units, well above the forecast of 4.98 million. The September rise of 5.5% marked the highest percentage rise since July 2003 and the rate was the best since August 2007. After a bleak report on foreclosures Thursday, the existing home sales report was a nice surprise for the market, but probably won’t be enough to say to investors that the housing market bottom is in place.

“World wide markets appear to be in a free-fall this morning. Circuit breakers on the S&P 500 Index (SPX) futures have already been implemented on a pre-opening basis. We would not be surprised to see VIX above the 90 level and even above 100 level, setting new all-time highs as risk perceptions rise to levels not witnessed,” Scott Fullman, director of derivative investment strategy with WJB Capital Group, said in an email.

“The cost of hedging has been rising and is now costing nearly as much as it would be to take losses. This will likely impact liquidity for the derivative markets, which may result in further impacts on implied volatility levels. This may be a sign . . .

In one of the more jarring and widely anticipated stock market openings in history, small-cap stocks plummeted to fresh bear market lows while hitting the lowest point since August 2003. The freefall was precipitated by a collapse in overseas markets amid profit warnings in Asia, ongoing worries about a worldwide economic slowdown and talk of forced liquidation. Today’s small-cap gainers are Insituform Tech (Nasdaq:INSU), Align Technology (Nasdaq:ALGN) and Hittite Microwave (Nasdaq:HITT).

Other Market Watch highlights today include:

• We are heading toward one of the worst months in stock market history and while everyone seems to be trying to peg the bottom, there are no signs yet that one is in place.  
• The yield on benchmark 10-year notes was down more than 4%.   The yield on 30-year bonds tumbled to the lowest in history since the product issuance began back in 1977.
• With equity markets in panic liquidation mode and investors scrambling for a safe-haven outlet, demand for Treasury products has been extreme

Small Cap Gainers:

• Insituform Tech posted a 66% spike in Q3 EPS that beat the Street, as it made progress in its N. Am sewer rehabilitation operations. (Nasdaq:INSU). 
• Align Technology will cut 111 jobs; shares surge 20%. See (Nasdaq:ALGN).  
• Hittite Microwave up 4%, marginally ahead of the bell: posted Q3 EPS above the Street. See (Nasdaq:HITT).  
• Take-Two Interactive soaring 110% in pre-market trading, yet no fresh news.  See (Nasdaq:TTWO).  

Small Cap Losers:

• Avid Technology Inc. is down 25% following soft earnings news See (Nasdaq:AVID).  
• American River Bankshares tumble 22% on no fresh news. See (Nasdaq:AMRB).
• Central European Media Enterprises Ltd. is off 22%, sinking to fresh 52-week lows
See (Nasdaq:CETV).  
• Vimpelcom skids 21%, as rumors swirl that the CEO will resign. See (NYSE:VIP).  
• China Eastern Airlines Corp. Ltd. is down 17% and is another example of a firm that has collapsed from triple-digit stock values a year ago. See (NYSE:CEA). 

:CEA

Sciele Pharma Inc. (Nasdaq:SCRX), Isle of Capri Casinos Inc. (Nasdaq:ISLE) and Ameristar Casinos Inc. (Nasdaq:ASCA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Odyssey Healthcare Inc. (Nasdaq:ODSY), Progenics Pharmaceuticals Inc. (Nasdaq:PGNX), Avid Technology Inc. (Nasdaq:AVID), Salix Pharmaceuticals Ltd. (Nasdaq:SLXP), Morgans Hotel Group Co. (Nasdaq:MHGC) and CV Therapeutics Inc. (Nasdaq:CVTX).

Here are the most actively traded companies among small caps:

Diamond Management & Technology Consultants Inc. (Nasdaq:DTPI), Chindex International Inc. (Nasdaq:CHDX) and Avid Technology Inc. (Nasdaq:AVID) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Molecular Insight Pharmaceuticals Inc. (Nasdaq:MIPI), Summit Financial Group Inc. (Nasdaq:SMMF), Reis Inc. (Nasdaq:REIS), Smith Micro Software Inc. (Nasdaq:SMSI) and Bryn Mawr Bank Corp. (Nasdaq:BMTC).

Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed higher Friday, with the Russell 2000 (NYSE:IWM) rising 4.81, or 0.67%, to 721.88, which marked the highest daily close since Feb. 13. The market had a teeter-totter session, opening higher on earnings news and a firm dollar, then slumping on consumer sentiment jitters and soaring crude oil before staging the afternoon recovery.

Crude oil futures climbed to a record intraday peak Friday at $119.90 per barrel, lifted by supply concerns tied to worker strikes in Nigeria and the North Sea. The supply side concerns were complemented by news of warning shots fired on boats in the Gulf thought to be Iranian, underscoring tensions right now between the United States and Iran.

The market appeared set for a comfortable morning rise early today, but then the University of Michigan consumer sentiment survey cast a pall over buyer enthusiasm. The Michigan headline report came out at 62.6, down from 69.5 the previous month, and at the lowest April reading in 26 years. The dour consumer mood sparked a wave of selling across equity products, but the slide never really took hold and stocks were able to recover in the afternoon despite the Michigan survey and spiking crude values.

Speaking of economic data, this week’s report front was the quiet before next week’s storm. Not only will investors have to navigate a frothy sea of economic data risk —  highlighted by Friday’s employment report — but the FOMC meeting Tuesday afternoon could trigger a dramatic market response as everyone struggles to read the Federal Reserve “tea leaves” to see if the end of the easing cycle is nigh.

Back to today’s action, equities likely found some support tied to a solid performance in the U.S. dollar, which climbed about 0.6% against the euro, and was up nearly 0.3% against the yen. The fact that the greenback held onto gains versus the euro despite the jump in crude oil was impressive, as most of the time in recent . . .