Tag - CBAK

It's one thing when an advisor reads research reports and financial documents from companies to determine their value as an investment; it’s another to actually take the time to visit the company and meet with key management. 



While this extra step is no guarantee that an investment pick will be successful, “face-to-face” analysis offers an additional value step in the research process.



Particularly impressive with the advisor featured in today’s column is that Tony Sagami often travels to China to meet with the companies that are featured in his Asia Stock Alert newsletter.

His latest recommendation, China BAK Battery (Nasdaq:CBAK), is a bit off the beaten path, requiring not only a trip to China, but also a multi-hour train ride and a four-hour drive through “the back roads of China.” Despite the time and effort, Sagami says, "It was absolutely worth it."



"In my search for 'the next great opportunity,' I have found a company that is helping to power the 'Doodad Revolution.’ " Rechargeable lithium ion battery maker China BAK Battery has a market cap of $215 million.
 


"The firm’s batteries are used for just about every portable electronic doodad you can think of — cell phones, laptop computers, MP3 music players, PDAs, digital cameras, camcorders and Bluetooth devices — as well as industrial applications such as power tools and miners hats,” Sagami says, pointing out that lithium ion batteries . . .

The Russell 2000 (NYSE: IWM) futures are rising and the small-cap index will probably open in the green following news of employment data.

Private sector employment in the United States increased by 40,000 in the month of December, according to a report by Automatic Data Processing, Inc. (NYSE: ADP). Employment in the service-providing sector of the economy grew 71,000, while employment in the goods-producing sector declined 31,000, the Roseland, N.J.-based provider of business outsourcing solutions said.

However, December’s increase of 40,000 shows a slowing of nonfarm private employment growth that averaged 118,000 during the three-month period from September through November.

That’s consistent with a slowing economy.

Separately, the U.S. Labor Department reported that jobless claims for the week ended Dec. 29 fell 21,000 to 336,000 from the previous week’s upwardly revised figure of 357,000.

Investors will also be waiting to see data on factory orders for November, set to be released by the U.S. Census Bureau at 10 a.m. ET. Statistics released on Wednesday showed a surprise decline in U.S. manufacturing in December, the news of which sent stocks tumbling.

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:

• KongZhong Corp. (KONG), up 13% on news it has signed a strategic alliance agreement with China Sports Industry Group Co.
• Sciele Pharma Inc. (SCRX), up 10% on news it has received approval to sell a new version of its high blood pressure drug.
• NightHawk Radiology Holdings, Inc. (NHWK), up 9%.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open in positive territory.

Small-cap stocks are set for a bullish start to 2008 as investors await the Institute of Supply Management’s manufacturing index for December. Economists expect that the measure will show that growth has slowed from the preceding month.

Also grabbing the headlines is news on construction spending, which is also set to be released at 10 a.m. ET. That measure is expected to show a decline.

Looking toward the afternoon, investors will be waiting to see the minutes from the U.S. Federal Reserve’s meeting on Dec. 11, when the central bank decided to drop its target interest rate 0.25% to 4.25%. The minutes will be released at 2 p.m. ET.

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:

• Akeena Solar, Inc. (AKNS), up 42% on news it has licensed new solar technology.
• China Sunergy Co., Ltd. (CSUN), up 7%.
• Asiainfo Holdings, Inc. (ASIA), up 7%.

Biggest percentage losers:

• RadNet Inc. (RDNT), down 3%.
• LJ International Inc. (JADE) down 4%.
• China BAK Battery, Inc. (CBAK) down 3%.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are continuing to tumble on weaker-than-expected durable goods orders and lackluster financial firm news, magnifying investors’ already present concerns surrounding a possible economic slowdown.

News of the assassination of former Pakistani Prime Minister Benazir Bhutto only added to the unsettling economic data, shaking the markets.

At 1:36 p.m. ET, the small-cap index was down 15.14 points, or 1.9%, to 781.89. The Dow was down 151.28 points, or 1.12%, to 13,400.41.

Durable goods orders for the month of November edged up a less-than-forecasted 0.1% from October’s 0.4% decline. Economists were forecasting an increase of 2.5%.

In corporate news, Goldman Sachs issued a note late Wednesday speculating that financial juggernaut Citigroup Inc. (NYSE: C) might have to slash its dividend by 40% in light of now greater-than-forecasted write-downs for bad bets on collateralized debt obligations. Goldman is now projecting write-downs in the neighborhood of $18.7 billion, up from the investment bank’s previous estimate of $11 billion.

In related news surrounding the unfolding of the credit crisis, Fitch Ratings put 205 residential mortgage-backed securities backed by bond insurers, including MBIA and Ambac Financial Group, on review for a downgrade.

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:

Rackable Systems, Inc. (Nasdaq: RACK), China Sunergy Co., Ltd. (Nasdaq: CSUN) and China BAK Battery Inc. (Nasdaq: CBAK) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

China Precision Steel, Inc. (Nasdaq: CPSL), Ceragon Networks Ltd. (Nasdaq: CRNT) and Targa Resources Partners LP (Nasdaq: NGLS) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $750 million:

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF), City Telecom (H.K.)Ltd (Nasdaq: CTEL) and Yucheng Technologies Ltd (Nasdaq: YTEC) are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

China Precision Steel, Inc. (Nasdaq: CPSL), City Telecom (H.K.) Ltd. (Nasdaq: CTEL) and Gladstone Capital Corp. (Nasdaq: GLAD) are the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

China Sunergy Co., Ltd. (Nasdaq: CSUN), Synta Pharmaceuticals Corp. (Nasdaq: SNTA) and Origin Agritech Ltd. (Nasdaq: SEED) are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

Hoku Scientific, Inc. (Nasdaq: HOKU), Yucheng Technologies Ltd. (Nasdaq: YTEC) and China Technology Development Group Corp. (Nasdaq: CTDC) are the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

KongZhong Corp. (Nasdaq: KONG), Cardica, Inc. (Nasdaq: CRDC) and POZEN Inc.  (Nasdaq: POZN) are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $750 million:

CDC Corp. (Nasdaq: CHINA), eFuture Information Technology Inc. (Nasdaq: EFUT) and Penwest Pharmaceuticals (Nasdaq: PPCO) are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $750 million:

eFuture Information Technology Inc. (Nasdaq: EFUT), China Sunergy Co., Ltd. (Nasdaq: CSUN) and China Technology Development Group Corp. (Nasdaq: CTDC) are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

KongZhong Corp. (Nasdaq: KONG), China BAK Battery Inc. (Nasdaq: CBAK) and China Techfaith Wireless Comm. Tech. Ltd (Nasdaq: CNTF) are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

Shares of China BAK Battery, Inc. (Nasdaq: CBAK) are lower in pre-market trading, after having been on a rampage for the last two trading sessions to gain roughly 77%. Late Thursday, TheStreet.com's Jim Cramer said the stock is "sizzlin," but warned that investors should not get greedy or get "annihilated."

China BAK develops and manufactures three types of cells, including lithium polymer cells.

Shares of China BAK (CBAK) lost 5.10%, or $0.45, to $8.37 in pre-market trading.

China BAK Battery Inc. (Nasdaq: CBAK), China Precision Steel, Inc. (Nasdaq: CPSL) and LJ International, Inc. (Nasdaq: JADE) are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

Corgi International Ltd. (Nasdaq: CRGI), Verticalnet, Inc. (Nasdaq: VERT) and China BAK Battery Inc. (Nasdaq: CBAK) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Superconductor Technologies, Inc. (Nasdaq: SCON), China Precision Steel, Inc. (Nasdaq: CPSL) and Local.com Corp. (Nasdaq: LOCM) are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $500 million:

Accredited Home Lenders Holding Co. (Nasdaq: LEND), Physicians Formula Holdings, Inc. (Nasdaq: FACE) and STEC, Inc. (Nasdaq: STEC) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $500 million:

These are the biggest percentage losers among companies with market capitalizations under $500 million:

Shares of Hauppauge, N.Y.-based Hirsch International Corp. (Nasdaq: HRSH) are trading higher following news this morning that net income for the quarter ended March 31 nearly tripled.  The electronic embroidery machinery provider reported net income of $817,000, compared with $292,000 in the same period of 2006.  Analyst estimates were unavailable.  Shares are up $0.08, or 2.15%, to $3.80.