Tag - BBW

Integral System Inc. (Nasdaq:ISYS), Build-A-Bear Workshop Inc. (Nasdaq:BBW) and Oshkosh Corp. (Nasdaq:OSK) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Circor International Inc. (Nasdaq:CIR), Carbo Ceramics Inc. (Nasdaq:CRR), ENPRO Industries Inc. (Nasdaq:NPO), ManTech International Corp. (Nasdaq:MANT), Ardea Biosciences Inc. (Nasdaq:RDEA) and Pacific Capital Bancorp (Nasdaq:PCBC).

Build-A-Bear Workshop Inc. (NYSE:BBW) is down 13% today after research firm Susquehanna lowered the company’s price target ahead of the opening to $10. Susquehanna maintained the “positive” rating for the St. Louis-based specialty retailer. Higher fuel and food costs have led to decreases in consumer spending, which has dragged down Build-A-Bear. The stock is down more than 53% since January. Today, shares are trading at $6.40, down $0.91 from Tuesday’s close. Trading volume is nearly double the average number of shares.

Interactive Intelligence Inc (Nasdaq:ININ), FirstFed Financial Corp (Nasdaq:FED) and Virtusa Corp (Nasdaq:VRTU) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Landmark Bancorp Inc (Nasdaq:LARK), Orthofix International NV (Nasdaq:OFIX), Build-A-Bear Workshop Inc (Nasdaq:BBW), Bankrate Inc (Nasdaq:RATE), CCA Industries Inc (Nasdaq:CAW) and Umpqua Holdings Corp (Nasdaq:UMPQ).

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

Stocks continued their assent midday, as oil slipped, the greenback gained and investors shrugged off lackluster earnings news from bond insurer MBIA.

At 12:49 p.m. ET the Russell 2000 (NYSE:IWM) was up 1.34%, or 9.63, to 729.68 while the Dow had gained 0.79%, or 100.79, to 12,846.67.

Oil futures continued to slide midday as investors locked in gains from last week. A crude oil contract for the month of June was off roughly $1.21 midday to $124.75, down from the $126 level breached last week.

As oil futures sold off, the dollar rallied against other major currencies, quelling inflation concerns.

Just this morning Chicago Fed President Charles Evans said that housing was still a drag on the economy, and that growth risks were to the downside, but inflation risk was on the upside. Evans also said that U.S. growth should improve in the second half of the year, but that tight credit markets would crimp near-term GDP.

In corporate news, the financial sector is making headlines today. Investors shrugged off MBIA’s (NYSE:MBI) first-quarter results, as the bond insurer swung to a first-quarter loss on account of $3.58 billion unrealized loss on insured derivatives. Shares rallied.

The Russell 2000 (NYSE: IWM) posted the steepest decline as U.S. indices fell on news that U.S. Federal Reserve chairman Ben Bernanke called economic growth “sluggish.” The small-cap index lost 16.61 points, or 2.30%, to 705.32. The Dow Jones Industrial Average (INDU) declined 175.26 points, or 1.40%, to 12,376.98.

On a year-to-date basis, the Russell 2000 has let go 7.93%, while the Dow is missing 6.69% and the S&P 500 has fallen 8.14%.

“My baseline outlook involves a period of sluggish growth, followed by a somewhat stronger pace of growth starting later this year,” Bernanke told the Senate Banking Committee today. “The outlook for the economy has worsened in recent months, and the downside risks to growth have increased.”

The bears took complete control of trading as soon as the Fed chief began his congressional testimony at 10 a.m. ET and small-cap stocks began a virtually uninterrupted slide down.

Bernanke hinted that rate cuts are possible in the future and pointed out he is not predicting a recession, but investors didn’t take notice.

In economic news, the U.S. Commerce Department reported that the country’s trade deficit fell by a greater-than-expected 6.9% to $58.76 billion in December from $63.12 billion in November.

However, the U.S. Labor Department reported that for the week ended Feb. 9, the four-week moving average for new jobless claims increased 12,000 to its highest level since October 2005.

Retailers experienced an anti-climatic end to 2007, as Wall Street began sounding the alarm for recession and caused consumers to pull in their purse strings. The cloud has continued to hang over retail stocks into 2008 and Susquehanna Financial’s outlook for the sector’s fourth quarter and fiscal 2008 cautions that the clouds haven’t dissipated.

“Given the weak consumer environment, we believe retailers that only reported holiday sales and did not provide additional commentary during their sales release have a greater chance of realizing greater volatility heading into fourth-quarter 2007 results,” Susquehanna Financial analyst Michael Thurow wrote in a retailer’s research report today. 

For January, Susquehanna Financial analyst Thomas Filandro is projecting a sector comp decline of 3% to 5%, compared with an increase of 2.5% last January, as the analyst says the majority of the sector employed aggressive promotions.
 
“Although it is unclear whether or not a recession will hit in 2008, it is clear that consumers remain on edge and extremely cautious regarding spending on apparel and accessories,” Filandro wrote.

Looking past January, the analyst says aside from dealing with a skittish consumer, retailers will be faced with an earlier Easter holiday this year that typically shortens the initial spring selling window and may result in higher seasonal markdowns.

As the holiday season officially kicked off this weekend, shoppers flocked to the malls for a better-than-anticipated turnout on Black Friday. However, analysts remain incredulous as to whether Friday’s surprise will continue to spread holiday cheer for retailers through the season.

“With Thanksgiving weekend sales typically accounting for only 10% of holiday purchases, much business has yet to occur,” said Susquehanna Financial analyst Thomas Filandro. “We remain cautiously optimistic that the season will not be a bust and are forecasting moderate specialty sector sales growth of 2% to 4%.”

Lazard Capital Markets analyst Todd Slater disagrees with the prevailing sentiment, calling Black Friday “blue.”

“Most discount and specialty retail stores we visited were disappointed with traffic and conversion relative to last year,” wrote Slater in a research note today.

ShopperTrak RCT reported an 8.3% increase in Black Friday sales and a 7% increase for the Friday and Saturday, above its 4% to 5% expectation, according to Slater.

“While this sounds strong, we have doubts that sales made plan in most cases,” Slater wrote in a research note. “Our view is that sales largely missed plan, and were skewed to electronics deals (particularly flat-screen TVs and electronic picture frames) and low-margin door-busters (including promotionally-priced cashmere sweaters).”

As the holiday season progresses, given broader macroeconomic pressures are usurping consumers’ purse strings, Filandro says it’s no surprise that the average consumer plans on spending less this holiday selling season.

Susquehanna Financial Group conducted a survey of 2,000 U.S. consumers, focusing on shopping intentions for the 2007 holiday selling season. The group’s survey, which included 1,502 women and 498 men, aged 16 to 50, found that overall spending plans are lackluster, as 36% of respondents said they plan on spending somewhat to significantly less on holiday gifts this year.

Susquehanna found the major reasons for a weak spending outlook were additional expenses (60%), less salary (37%), more debt (36%) and less financial certainty (32%). Only 4% of respondents cited lower home values as a factor in their reduced spending plans, according to the survey.

Among the retailers Filandro maintains a “positive” rating on include, Build-A-Bear Workshop, Inc. (NYSE: BBW), The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) and Sharper Image Corp. (Nasdaq: SHRP).

“Given the positive move in retail stocks on Friday followed by bullish sentiment from mall developers and sales tracking services over the weekend, we think the trade is to sell the group into possible strength today,” wrote Slater.

Build-A-Bear Workshop, Inc. (NYSE: BBW) shares are edging up after the stuffed bear retailer reported third-quarter net income of $3 million, or $0.15 per share, missing analyst expectations of $0.18 per share and compared with $2.7 million, or $0.13 per share, a year earlier.

“While the current economic environment is challenging for the consumer, our profit performance underscores the fundamental strength of our store model and the store experience we provide to our guests,” CEO Maxine Clark said in a statement. “Our stores are highly productive, generating strong sales per square foot. In addition, our business, despite difficult sales, continues to deliver a high return on investment and strong cash flow.”

Revenue for the third quarter jumped 8.2% to $109.8 million, below Wall Street estimates of $114 million and compared with $101.5 million during the same period of 2006.

The St. Louis-based company said it will not provide guidance because it is undergoing a strategic review.

During the third quarter, Build-A-Bear opened six stores and closed one.

In morning trading, BBW shares are up 1.34%, or $0.23, at $17.36. Over the last 52 weeks, shares have ranged from $15.10 to $32.08.

Maxus Realty Trust, Inc. (Nasdaq: MRTI), Liberty Bell Bank (NJ) (Nasdaq: LBBB) and Silicon Graphics, Inc. (Nasdaq: SGIC) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Before the start of trading, stuffed-animals retailer Build-A-Bear Workshop, Inc. (NYSE: BBW) reported a 47% plunge in second quarter profit. The St. Louis-based company announced revenue of $100.4 million for the three months ended June 30, compared with $93.7 million a year earlier. However, foreign language costs associated with its Montreal and Puerto Rico locations - along with a $1.7 million loss for its U.K. operations - slashed profits.

For the period, Build-A-Bear reported $1.59 million in profit, compared with $3 million in second quarter 2006.

The company's comparable store sales in North America dove 9.4%, compared to a 4.4% decline in the same period of 2006. In June, the company appointed Lehman Brothers to look at strategic alternatives. The company will not be providing earnings guidance until the business review is completed.

"Our new store openings this quarter, including our first stores in Alaska, Montana and Puerto Rico, continue to drive our retail sales growth," CEO Maxine Clark said in a statement. "New stores in particular are an important driver of our overall profitability, while our older stores continue to contribute to our earnings."

During a morning conference call, Clark said the company will not have a Disney movie-themed product this holiday season. The company also announced a new Build-A-Bear social networking website it's unveling in the fourth quarter and a partnership with FedEx.

In today's trading, shares of the small-cap company lost $1.48, or 6.31%, at $21.99. Over the last 52 weeks, shares have ranged between $20.20 and $32.08.

Custom stuffed animal maker Build-A-Bear Workshop, Inc. (NYSE: BBW) is evaluating potential strategic alternatives to enhance long-term shareholder value and plans on expanding its North American store base to at least 350 stores, the St. Louis, Mo.-based company  said this morning. Shares are up $3.25, or 14%, to $25.76.

Shares of Trump Entertainment Resorts Inc. (Nasdaq: TRMP) are up on news this morning that the Atlantic City, N.J.-based casino hotels have been upgraded to “Peer Perform” from “Underperform” by investment bank Bear, Stearns & Co. Inc. (NYSE: BSC).

U.S. stocks opened close to the flat line following little news save for the latest corporate deal-making.

At 10:19 a.m. ET the Russell 2000 was down 4.73 points, or 0.56 percent, to 843.46. Dow Jones Industrial Average had lost 14.06 points, or 0.10 percent, to 13,625.42.

Australia’s BHP Billiton Ltd. (NYSE: BHP), the world’s largest mining company, is renewing its $40 billion bid for Pittsburgh, Pa.-based aluminum producer Alcoa Inc. (NYSE: AA), according to Britain’s The Times newspaper.

Elsewhere, General Electric Co. (NYSE: GE) may join forces with Pearson PLC, which publishes the Financial Times, to make an offer for Dow Jones & Company, Inc. (NYSE: DJ) that tops that of Rupert Murdoch’s News Corp. (NYSE: NWS), according to The Wall Street Journal.

The following were the most actively traded companies in Monday's trading among those with market capitalizations under $500 million:

Build-A-Bear Workshop, Inc. (NYSE: BBW) cut its second-quarter guidance to between $0.07 and $0.10 per share, down from between $0.15 and $0.19 per share. The St. Louis-based company cut its view because of less-than-expected sales over the last two months.

Terremark Worldwide, Inc. (Nasdaq: TMRK) delayed filing its annual report with the SEC, citing delays in collection and compilation of certain financial information.

These are the biggest percentage losers in Friday's trading among companies with market capitalizations under $500 million:

The Russell 2000 small cap index is leading a Wall Street rally sparked by news that core U.S. inflation barely rose in May.
 
At 10:01 a.m. ET the Russell 2000 was up 11.09 points, or 1.32 percent, to 848.21. Dow Jones Industrial Average had added 89.50 points, or 0.66 percent, to 13,643.22.

The core consumer price index, which excludes the cost of food and energy, increased just 0.1% in May, the U.S. Labor Department said before the market open. That’s less than the expected rise of 0.2%.

Overall, U.S. consumer prices increased 0.7% in May, the most since September 2005. Prices increased 0.4% in April. The rise was primarily due to higher energy costs.

The numbers suggest that underlying inflation is tame, easing concerns the U.S. Federal Reserve will look to raise interest rates in the future.

The following were the most actively traded companies in Friday's trading among those with market capitalizations under $500 million:

Build-A-Bear Workshop Inc. (NYSE: BBW) cut its second-quarter and full-year earnings forecast on account of North American same-store sales falling to 9% from 11%.

The retailer, which manufactures stuffed animals, says it now expects quarterly earnings of $0.07 to $0.10 cents a share, down from earlier guidance of $0.15 to $0.19 per share.