Tag - CPHL

CastlePoint Holdings Ltd. (Nasdaq:CPHL), DivX Inc. (Nasdaq:DIVX) and DryShips Inc. (Nasdaq:DRYS) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Given Imaging Ltd. (Nasdaq:GIVN), Sigma Designs Inc. (Nasdaq:SIGM), Central European Media Enterprises Ltd. (Nasdaq:CETV), TBS International Ltd. (Nasdaq:TBSI), Transmeta Corp (Nasdaq:TMTA) and Canadian Solar Inc. (Nasdaq:CSIQ).

DryShips Inc. (Nasdaq:DRYS), A Power Energy Generation Systems Ltd. (Nasdaq:APWR) and Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc. (Nasdaq:CSIQ), XenoPort Inc. (Nasdaq:XNPT), CastlePoint Holdings Ltd. (Nasdaq:CPHL), SM&A (Nasdaq:WINS), Delta Petroleum Corp. (Nasdaq:DPTR) and Clean Energy Fuels Corp. (Nasdaq:CLNE).

Here are the most actively traded companies among small caps:

inVentiv Health Inc. (Nasdaq:VTIV), Global Crossing Ltd. (Nasdaq:GLBC) and Lumber Liquidators Inc. (Nasdaq:LL) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Capella Education Co. (Nasdaq:CPLA), CastlePoint Holdings Ltd. (Nasdaq:CPHL), RGC Resources Inc. (Nasdaq:RGCO), American Apparel Inc. (Nasdaq:APP), Simcere Pharmaceutical Group (Nasdaq:SCR) and Volcano Corp. (Nasdaq:VOLC).

Here are the biggest percentage gainers among small caps:

Small-cap stocks put together a solid rally Tuesday, essentially recapturing the lost ground from Monday’s sharp decline. The market got an early boost from sinking crude oil prices, and extended those gains after the FOMC report failed to spark any fresh concerns. The Russell 2000 (NYSE:IWM) closed up 16.90, or 2.40% at 721.04. In the last three weeks, the market has generated one-day rallies of more than 2% on four occasions, which is an unusually large number of singular big-rally days jammed into such a short time frame.

Foreign exchange markets seemed to say that the Fed was on the right path, with the U.S. dollar jumping more than 100 basis points against the euro, and the dollar index climbing to the highest point since mid-June. In general, at this stage of the economic cycle, a strong greenback is seen as a sign of strength for the U.S. economy, and should encourage foreign asset flow into the U.S. stock market.

As for today’s big FOMC report, there was some mild intraday volatility associated with the statement, but the overall response was one of comfort. There is still a diversity of opinion about whether the Fed is in a position to fight inflation with tighter policy because of rising unemployment and soft economic conditions, but there also is a sense that the recent pullback in energy prices and other commodity markets may have provided the FOMC members with some valuable time and breathing room to combat a difficult situation...

CastlePoint Holdings (Nasdaq:CPHL), Dixie Group Inc (Nasdaq:DXYN) and athenahealth Inc (Nasdaq:ATHN) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Chemgenex Pharm (Nasdaq:CXSP), Transcat Inc (Nasdaq:TRNS), Pilgrim's Pride Corp (Nasdaq:PPC), Cutera Inc (Nasdaq:CUTR), Maiden Holdings Ord Shs (Nasdaq:MHLD) and LandAmerica Financial Group Inc (Nasdaq:LFG).

Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed higher in early trading, bolstered by sinking crude oil and other commodities, which helped ease inflation jitters. At 10:02 a.m. ET, the Russell 2000 (NYSE:IWM) was up 10.39, or 1.48% at 714.53, gaining back a sizable chunk of Monday’s losses, but holding within the recent trading ranges.

The ISM non-manufacturing survey came in at 49.5%, which was above the forecast of 48.5%, but still slightly below the 50.0% level, which denotes expansion vs. contraction in the services sector. The market remained on firm footing through the ISM data.

Now that ISM is out of the way, many investors will wait for this afternoon’s FOMC announcement. Although the Fed is not expected to shift short-term rates on Fed funds, the language in the statement could spark some movement in equities, interest rates and foreign exchange. There is some thought that the recent decline in crude oil prices will provide the Fed a little breathing room on the inflation fighting front, and lessen the need to act prematurely to stave off rising prices via tighter monetary policy...

DrdGold ADR (Nasdaq:DROOY), CommVault Systems Inc (Nasdaq:CVLT) and CastlePoint Holdings (Nasdaq:CPHL) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hawaiian Holdings Inc (Nasdaq:HA), Cutera Inc (Nasdaq:CUTR), ATP Oil & Gas Corporation (Nasdaq:ATPG), Sykes Enterprises Inc (Nasdaq:SYKE), IPG Photonics Corp (Nasdaq:IPGP) and Iconix Brand Group Inc (Nasdaq:ICON).

Here are the most actively traded companies among small caps:

Bermuda-based provider of property and casualty insurance CastlePoint Holdings, Ltd. (Nasdaq:CPHL) said this morning that it will be acquired by property and casualty insurance products company Tower Group, Inc. (Nasdaq:TWGP) for approximately $490 million, or $12.68 per share.

Shares spiked 27%, or $2.37, to $11.25 in pre-market trading. For detailed price information and recent news stories about CastlePoint Holdings, click CPHL. 

You say synergy, I say mutually beneficial strategic relationship but let’s not call the whole thing off. Either way, when it comes to taking on insurance risk in an increasingly competitive rate market, it pays to have a friend to lean on — even if you’re a tower.

And it’s not hard to make friends when you have the charm of two years of approximately 20% return-on-equity and a 70% year-over-year rise in net income like New York-based property and casualty insurer Tower Group, Inc. (Nasdaq: TWGP) had in the third quarter of 2007.

The secret behind Tower’s market-defying profitability amid the softening North American insurance landscape is its expert specialization in serving small segments of the market that are less competitive, yet still lucrative and offer a unique strategic reinsurance relationship (more on that later).

“The company has been very successful in identifying underserved markets where pricing competition is less severe, allowing them to write new business at a faster rate than the industry average,” KeyBanc Capital Markets analyst Elizabeth Malone told SmallCapInvestor.com. Tower’s bread and butter has always been writing low- to moderate-risk small-sized “main street” policies (think restaurants, small businesses, retail stores, modestly priced homes), but it is now beginning to offer an even wider range of products.

The $633 million insurer is still a fairly small fish in the property and casualty pond, competing directly with the likes of Erie Indemnity Co. (Nasdaq: ERIE) and The Allstate Corp. (NYSE: ALL). With the purchase of a book of renewal premiums here and a debt offering there, however, Tower has moved slowly but surely from its modest beginnings in 1989 along a profitably expansionary path. The 2007 acquisition of New Jersey-based Preserver Group Inc. and its 300 retail agents in particular has enabled meaningful growth into New England markets and has opened up a new opportunity to move into the auto insurance segment.