Tag - CFSG

Rosetta Stone Inc. (Nasdaq:RST), InterDigital Inc. (Nasdaq:IDCC) and Ascent Solar Technologies Inc. (Nasdaq:ASTI) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: RINO International Corp. (Nasdaq:RINO), CNinsure Inc. (Nasdaq:CISG), China Bio Energy Holding Group Co Ltd. (Nasdaq:CBEH), SmartHeat Inc. (Nasdaq:HEAT), Jinpan International Ltd. (Nasdaq:JST) and China Fire & Security Group Inc. (Nasdaq:CFSG).

IEC Electronics Corp. (Nasdaq:IEC), SmartHeat Inc. (Nasdaq:HEAT) and Hi Shear Technology Corp. (Nasdaq:HSR) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dollar Thrifty Automotive Group Inc. (Nasdaq:DTG), China Fire & Security Group Inc. (Nasdaq:CFSG), Clearwater Paper Corp. (Nasdaq:CLW), Targacept Inc. (Nasdaq:TRGT), LodgeNet Interactive Corp. (Nasdaq:LNET) and Century BanCorp Inc. (Nasdaq:CNBKA).

Sequenom Inc. (Nasdaq:SQNM), Crocs Inc. (Nasdaq:CROX) and Oncothyreon Inc. (Nasdaq:ONTY) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: UAL Corp. (Nasdaq:UAUA), Mellanox Technologies Ltd. (Nasdaq:MLNX), LogMeIn Inc. (Nasdaq:LOGM), JA Solar Holdings Co Ltd. (Nasdaq:JASO), Echelon Corp. (Nasdaq:ELON) and China Fire & Security Group Inc. (Nasdaq:CFSG).

Cabot Corp. (Nasdaq:CBT), Ezcorp Inc. (Nasdaq:EZPW) and Fuqi International Inc. (Nasdaq:FUQI) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: China Fire & Security Group Inc. (Nasdaq:CFSG), NutriSystem Inc. (Nasdaq:NTRI), Orion Marine Group Inc. (Nasdaq:ORN), Isramco Inc (Nasdaq:ISRL), Orthovita Inc. (Nasdaq:VITA) and Startek, Inc. (Nasdaq:SRT).

The 2008 Summer Olympics focused attention on China like no time in recent history. The high-tech opening and closing ceremonies gave the world a glimpse of how far the Middle Kingdom has come.

There are still many areas, though, in which the Chinese lag behind. As China has grown more prosperous and attracted Western investment, the Chinese government has made a significant push to enact a body of laws to bring China up to snuff on regulatory matters and match the quality and security standards of the United States and the European Union. In addition to passing legislation in the areas of financial transparency, intellectual property and labor issues, China has made significant strides in beefing up its industrial safety image. 

One area that has received attention is fire codes. Last year, officials passed a new set of national fire codes that prompted Chinese companies to upgrade operations and fully comply with the new standards. According to experts, few are in compliance (three-quarters of iron and steel companies, for example, are still working to meet the new regulations).

An enterprise at the center of Chinese industry's efforts to catch up to the developed world is China Fire & Security Group, Inc. (Nasdaq:CFSG), a leading industrial fire protection product and solution provider. Based in Beijing, Chinese Fire is engaged primarily in the design, manufacture, sales and maintenance of a . . .

Companies that manufacture drilling equipment are gushing earnings because of drilling activity fueled by record oil prices. T-3 Energy Services, Inc. (NASDAQ:TTES) manufactures so-called blowout preventers (BOPs) used on wells to prevent disasters. Circor International (NYSE:CIR) produces a variety of valves used on oil and gas wells and pipelines. 

T-3 recently shifted its focus from rebuilding and servicing other companies’ equipment to manufacturing its own equipment. This strategy shift was in response to customer requests. Its drilling customers desperately needed more subsea blowout preventers but were experiencing lengthy delays on new orders. BOPs are car-sized valves installed on wellheads that instantly seal off the well when excessive pressure is detected. T-3 added these devices to its product line last year by acquiring Energy Equipment and HP&T Products, two related companies that manufacture deep sea BOPs and related equipment. These acquisitions gave T-3 access to new technologies and markets and manufacturing capabilities at 21 locations across North America.

The company is benefiting from robust demand for its blowout preventers. Sales grew 33% last year to $217.4 million, from $163.1 million in 2006, while net income jumped 40% year-over-year to $25.3 million, or $2.15 per share, from $18.1 million, or $1.71 per share. With drilling activity on the rise, demand for blowout preventers continues to expand. China and Russia are expected to deploy 200 new drilling rigs per year over the next several years, and an additional 149 new offshore rigs are scheduled for delivery between 2008 and 2011...

Mexco Energy Corp (Nasdaq:MXC), Pyramid Oil Co (Nasdaq:PDO) and Blue Coat Systems Inc (Nasdaq:BCSI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

FieldPoint Petroleum Corp (Nasdaq:FPP), ChinaEdu Corp (Nasdaq:CEDU) and China Fire & Security Group Inc (Nasdaq:CFSG) are also among the biggest percentage losers.

Here are the biggest percentage losers among small caps:

The Russell 2000 (NYSE:IWM) has opened strong on news that investment bank JPMorgan Chase & Co. (NYSE:JPM) may improve its offer for Bear Stearns (NYSE:BSC).

At 10:09 a.m. ET, the small-cap index was up 12.12 points, or 1.78%, to 693.54. The Dow Jones Industrial Average (INDU) had advanced 168.52 points, or 1.36%, to 12,529.84.

Stocks small and large opened in the green on news that JPMorgan Chase & Co. may improve its offer for Bear Stearns to $10 a share from $2 a share in an attempt to appease Bear Stearns’ shareholders, many of whom are angry at the low price of the original offer.

An announcement on the future of the deal is expected today, according to news reports.

The Russell 2000 (NYSE: IWM) futures have gained and the small-cap index is poised to open in the green.

The bulls are ready to go following news that fiscal first-quarter profit at investment banking giant The Goldman Sachs Group, Inc. (NYSE: GS) fell 53% but beat Wall Street’s projections. Investors are looking to see if investment banks will be able to weather the financial turmoil, particularly after Bear Stearns’ (NYSE: BSC) spectacular demise.

All eyes will be on the U.S. Federal Reserve today as the Fed gets together for its regularly scheduled policy meeting. The market is pricing a full 1% cut in the federal funds rate, dropping it to 2% from the current 3%. A decision will be announced at about 2:10 p.m. ET.

In economic news, the U.S. Labor Department reported this morning that producer prices rose an expected 0.3% in February. Meanwhile, the U.S. Census Bureau reported that housing starts fell more than expected in February, a sign that the housing slump continues in full force.

Small-cap stocks took a dive again on Monday, with the Russell 2000 sinking 12.43, or 1.87% to 650.48, the second lowest daily close since Nov. 1, 2005. The market did generate a mild bounce off the morning lows, and sits on an immediate test into Tuesday’s opening at 650; below there, the next support is at 644. A breach of the latter could see the market back into freefall mode. Look for resistance Tuesday at 660, then at 667 and 677.

The afternoon promises some potential sparks, as the market will react to the FOMC meeting announcement.

 

Chinese industrial fire protection products company China Fire & Security Group, Inc. (Nasdaq: CFSG), said this morning that it won three independent projects from Chinese steel company Jiuquan Iron and Steel Corp. valued at approximately $4.3 million that will be implemented in the next 12 months. Despite the positive news, shares lost 5.5%, or $0.44, to $7.50 in pre-market trading.

For detailed price information and recent news stories about China Fire & Security Group, click CFSG. 

The Russell 2000 (NYSE: IWM) reversed earlier losses and posted a solid gain as investors embraced news of a report that the end of writedowns is near. The small-cap index climbed 12.43 points, or 1.86%, to 679.74. The Dow Jones Industrial Average (INDU) advanced 35.50 points, or 0.29%, to 12,145.74.

On a year-to-date basis, the Russell 2000 has shed 11.26%, while the Dow is down 8.44% and the S&P 500 has decreased 10.41%.

Stocks small and large opened with steep declines but managed to recover midway through the session on news of a report by rating agency Standard & Poor that said the end is in sight for writedowns stemming from the mess in the subprime mortgage sector.

Also helping the bulls establish their dominance was news of a bill proposed by House Financial Services Committee chairman Barney Frank that would allow the U.S. Federal Housing Administration to refinance mortgages that have been written down by lenders.

Small-caps confidently moved into the green at about 12 p.m. ET and never looked back.

The bearish mood in the morning was partially due to news from the U.S. Commerce Department before the opening that retail sales dropped 0.6% in February, defying economists’ forecasts for an increase of 0.2%.

Chinese industrial fire protection products provider China Fire & Security Group, Inc. (Nasdaq: CFSG) said this morning that it will up to $10 million of outstanding common stock. Shares advanced 9.7%, or $0.53, to $5.98 in pre-market trading.

For detailed price information and recent news stories about China Fire & Security Group, click CFSG.

The Russell 2000 (NYSE: IWM) futures are a hair higher and the small-cap index will probably open with a small rise.

Stocks small and large are poised for a moderately bullish opening on momentum following Tuesday’s move by the U.S. Federal Reserve to make up to $200 billion in expanded loans to financial institutions in an effort to ease the credit squeeze.

Small cap stocks took flight Tuesday, soaring 29.84, or 4.63% to 673.81, notching the largest one-day point gain of the year. The Russell 2000 climbed back above the 650-point level, and now needs to hold that zone to generate any bottoming patterns from here.

In today’s session, resistance should be seen at 680, 688 and 694. Meanwhile, support comes in at 668, 661 and then back down close to 650. There are no morning economic reports to navigate Wednesday, and the afternoon Treasury Budget report at 2:00 p.m. ET seldom has an impact on the stock market.

The Russell 2000 (NYSE: IWM) posted a stunning rise on news the U.S. Federal Reserve has moved to increase liquidity. The small-cap index jumped 29.84 points, or 4.63%, its largest increase this year, to 673.81. The Dow Jones Industrial Average (INDU) added 416.66 points, or 3.55%, to 12,156.81.

On a year-to-date basis, the Russell 2000 has declined 12.04%, while the Dow is down 8.35% and the S&P 500 has let go 10.06%.

Stocks soared out of the gate on news before the start of trading that the U.S. Federal Reserve and four other central banks will make expanded loans of cash and securities to financial institutions in an effort to ease the credit squeeze and keep the economy growing.

The Fed said it will lend up to $200 billion of Treasury securities to primary dealers for a term of 28 days. The U.S. central bank usually makes such loans overnight.

The Russell 2000 opened strong and bobbled in the green until halfway through the session, when it settled on an upward trajectory.

The Russell 2000 (NYSE: IWM) futures have moved up and the small-cap index will open in positive territory.

Wall Street appears set for a bullish opening following a day of steep losses. There is little on the economic docket today, except for news about the U.S. trade deficit in January.

The U.S. Commerce Department reported this morning that the trade deficit increased 0.6% to $58.20 billion in January from December’s downwardly revised $57.86 billion. Economists were expecting the deficit to widen to $59 billion.

Exports increased 1.6%, while imports added 1.3%.

Small-cap stocks extended the freefall Monday, sinking to the lowest daily close since Oct. 27, 2005. By the time the bell put a merciful end to things, the Russell 2000 fell 16.14 points, or 2.45%, to 643.97. Interestingly, the late action in small caps was far more severe on the downside than what took place in large-cap issues. In addition, the index snapped critical chart support from January at 650. Persistent price action below that point would open the door for another leg down in the bear market.

The international trade data this morning could spark some pre-opening volatility in stocks, but that report tends to be more of a market mover in the foreign exchange domain. Look for resistance Tuesday for the Russell at 650, then at 654.50 and 660.

Meanwhile, support is at tentatively at 639 and 634, but since we are now at long-term lows, the next big chart points aren’t until 625 and 614.

Chinese companies may soon see their raw materials costs drop. According to a report released today by Susquehanna Financial, policy changes enacted in China, effective this month, may cause raw material costs to drop, but might also place upward pressure on labor costs.

Among the policy initiatives the investment bank cites are China’s new labor contract law, lowered import taxes on 45 categories of imported goods, as part of the WTO concessions, and a mandate by the All-China Federation of Trade Unions for 80% of China’s foreign-funded and private enterprises to form trade unions by the end of 2008.

“We view the timing of these events as a one-two punch aimed to raise real wages of Chinese workers, while minimizing the impact to economic growth and unemployment rate by bringing down raw material costs in key industries,” Susquehanna Financial analyst Adele Mao wrote in a research note.

The policies could affect mainland China-based companies in both the near-term and long-term by causing gradual increases in labor costs, while causing raw material costs to fall.

Among the small-cap companies Susquehanna has a “positive” rating on, and for which the policies will probably cause a decrease in raw material costs, but increase in labor costs, include China Fire & Security Group, Inc. (Nasdaq: CFSG), FalconStor Software, Inc. (Nasdaq: FALC) and Comtech Group, Inc. (Nasdaq: COGO).

The Russell 2000 (NYSE: IWM) futures have moved up slightly but the small-cap index will likely open flat.

With little on the economic calendar today, Wall Street will be paying attention to corporate earnings and looking out for more pain stemming from the subprime meltdown.

Investors will also be paying attention to data on manufacturing in November, which will be released after the start of trading, with economists expecting to see evidence of a slowdown in growth.

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:

• China Fire & Security Group, Inc. (CFSG), up 25%.
• JAKKS Pacific, Inc. (JAKK), up 9% on news a lawsuit filed against it by World Wrestling Entertainment Inc. (WWE) will be dismissed.
• Ampal-American Israel Corp. (AMPL), up 8% on news it has purchased a majority stake of an Israeli chemical distribution organization.

Biggest percentage losers:

• ParkerVision, Inc. (PRKR), down 17% after a weekend news article that questioned the viability of its technology.
• China Finance Online Co. Ltd. (JRJC) down 3%.
• Internet Gold Golden Lines Ltd. (IGLD) down 2%.

Hoku Scientific, Inc. (Nasdaq: HOKU), SRI/Surgical Express, Inc. (Nasdaq: STRC) and U.S. Shipping Partners L.P. (NYSE: USS) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

The Russell 2000 (NYSE: IWM) opened with modest gains but later slipped into negative territory despite news of a successful Black Friday.

At 10:32 a.m. ET, the small-cap index had retreated 2.37 points, or 0.31%, to 752.66. The Dow Jones Industrial Average (INDU) was up 23.49 points, or 0.18%, to 13,004.37.

Separate news reports indicate that U.S. retailers had a successful Black Friday, a bullish sign for many investors. The day after Thanksgiving is referred to as Black Friday because it’s considered the day when retailers become profitable for the year.

Preliminary numbers show that sales rose 8.3% to $10.3 billion, according to ShopperTrak, a provider of shopper traffic counting information software.

“We anticipated that the 2007 trend would continue and consumers would be willing to spend despite all of the economic pressures we’ve been hearing about heading into the season,” said Bill Martin, co-founder of ShopperTrak, in a statement.

Meanwhile, the National Retail Federation announced that 147 million shoppers hit the stores over the Black Friday weekend, an increase of 4.8% from a year earlier.

However, spending per customer decreased 3.5% to $347.44.

The statistics tell us that retailers increased traffic by luring consumers with promotions and discounts, but the slump in the U.S. housing sector, high energy prices and a credit squeeze took their toll on individual spending.

The Russell 2000 (NYSE: IWM) futures are little changed but the small-cap index might move up slightly.

Stocks posted large gains on Friday, when shoppers flocked to U.S. retailers for holiday shopping and post-Thanksgiving Day bargains. Sales on “Black Friday,” as it has come to be known, were 8.3% higher than a year ago, according to ShopperTrak, a provider of shopper traffic counting information software.

However, the National Retail Federation said that sales per individual shopper were down.

That tells us that the discounts offered by retailers succeeded in enticing more shoppers to visit the stores, but individual consumer spending was lower due to the effects of the slump in the U.S. housing sector, high energy prices and a credit squeeze.

No major economic releases are scheduled for today.

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:

• Cyclacel Pharmaceuticals Inc. (CYCC), up 9%.
• Wonder Auto Technology, Inc. (WATG), up 8% on news that the company expects annual profit to increase more than 60%.
• China Fire & Security Group, Inc. (CFSG), up 6% on news it was awarded a $31 million contract.

Biggest percentage losers:

• Cardiome Pharma Corp. (CRME), down 7% on news that it will delay drug trial results.
• NGAS Resources, Inc. (NGAS) down 0.2%.
• Radiation Therapy Services, Inc. (RTSX) down 0.1%.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will open with a rise as investors focus on the U.S. retail sector.

With little business news and no major economic releases due to the Thanksgiving Day holiday, the retail sector will be grabbing headlines.  Today is the so-called “Black Friday”, the day when millions of Americans do their holiday shopping and when retailers become profitable for the year.

Black Friday is traditionally one of the busiest shopping days of the year and typically marks the beginning of the Christmas shopping season.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:


• China Precision Steel, Inc. (CPSL), up 9%.
• China Fire & Security Group, Inc. (CFSG), up 6%.
• Qiao Xing Universal Telephone, Inc. (XING), up 5%.


• City Telecom (H.K.) Ltd. (CTEL), down 16% following the release of its quarterly and annual financial results.
• Sify Technologies Ltd. (LYTS) down 4%.
• Hibbett Sports Inc. (HIBB) down 1%.

The Russell 2000 (NYSE: IWM) fell today as fears of a U.S. economic slowdown gripped Wall Street. The small-cap index lost 9.03 points, or 1.21%, to 740.30, its sixth consecutive decline. The Dow Jones Industrial Average (INDU) let go 211.10 points, or 1.62%, to 12,799.04.

On a year-to-date basis, the Russell 2000 has shed 5.98%, while the Dow has added 2.60% and the S&P 500 has gained 0.01%.

Stocks fell out of the gate and never managed to rise above the flat line as investors digested news of reports forecasting that U.S. economic growth will slow in 2008.

On Tuesday the U.S. Federal Reserve forecasted that growth will slow in 2008 and the unemployment rate will move up from its current level of 4.7%. The Fed sees inflation as remaining moderate.

A second blow came after the start of trading, when the Conference Board announced that its index of leading economic indicators fell more than expected in October. The index slid 0.5%, more than the projected 0.4%, following a downwardly revised gain of 0.1% in September.

The business organization’s report seemingly confirms fears that businesses and consumers will cut back on spending in the face of stagnating house prices and higher energy costs.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are still in negative territory on fears of an economic slowdown. At 2:27 p.m. ET, the small-cap index had fallen 4.35 points, or 0.58%, to 744.98. The Dow Jones Industrial Average (INDU) was missing 113.15 points, or 0.87%, to 12,896.99.

The U.S. index of leading economic indicators for October unexpectedly fell 0.5%, the Conference Board announced after the start of trading. That’s more than the projected decline of 0.4% and a sign that the economy might be headed for an abrupt slowdown in 2008. The index increased a downwardly revised 0.1% in September.

Only three of the leading ten indicators that make up the index rose in October, the business organization said.

The news raised fears that consumer spending will decline as the slump in the U.S. housing sector and higher energy costs take their toll.

Worries of a coming economic slowdown are what caused stocks to open lower.

On Tuesday the U.S. Federal Reserve forecasted that growth will slow in 2008 and unemployment will creep up slightly from the current level of 4.7% while inflation remains in check.

Gevity HR, Inc. (Nasdaq: GVHR), Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX) and Glu Mobile Inc. (Nasdaq: GLUU) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

The Russell 2000 (NYSE: IWM) opened in the red on concerns that the U.S. Federal Reserve may not move to lower interest rates.

At 10:45 a.m. ET, the small-cap index was down 1.76 points, or 0.21%, to 819.96. The Dow Jones Industrial Average (INDU) had lost 44.38 points, or 0.32%, to 13,825.88.

Investors are turning their attention to the U.S. Federal Reserve today, which begins a two-day policy meeting.

On Monday, observers were confident that the Fed will cut its target interest rate up to 0.50%, but today an article in The Wall Street Journal is casting doubt on that expectation, claiming that policy makers will likely either cut the federal funds rate 0.25% or leave it unchanged.

The federal funds rate, the rate at which commercial banks make overnight loans to each other, currently stands at 4.75%, after the Fed voted on Sept. 18 to lower it from 5.25%.

The central bank will announce its decision on Wednesday.

In economic news, U.S. consumer confidence continued to fall in October. The Conference Board reported after the start of trading that its index of consumer confidence fell to 95.6 from 99.5 in September.