Tag - CVGW

Oxford Industries Inc. (Nasdaq:OXM), Zumiez Inc. (Nasdaq:ZUMZ) and China Natural Gas Inc. (Nasdaq:CHNG) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Shiloh Industries Inc. (Nasdaq:SHLO), Methode Electronics Inc. (Nasdaq:MEI), Calavo Growers Inc. (Nasdaq:CVGW), CryoLife Inc. (Nasdaq:CRY), DrdGold ADR (Nasdaq:DROOY) and Orion Marine Group Inc. (Nasdaq:ORN).

Calavo Growers Inc. (Nasdaq:CVGW), FiberNet Telecom Group Inc. (Nasdaq:FTGX) and Bridgford Foods Corp. (Nasdaq:BRID) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NeurogesX Inc. (Nasdaq:NGSX), Inspire Pharmaceuticals Inc. (Nasdaq:ISPH), NCI Inc. (Nasdaq:NCIT), Todd Shipyards Corp. (Nasdaq:TOD), Florida Public Utilities Co. (Nasdaq:FPU) and RehabCare Group, Inc. (Nasdaq:RHB).

Health Fitness Corp. (Nasdaq:FIT), Bridgepoint Education Inc. (Nasdaq:BPI) and Beverly National Corp. (Nasdaq:BNV) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Force Protection Inc. (Nasdaq:FRPT), Kirklands Inc. (Nasdaq:KIRK) and Cott Corp. (Nasdaq:COT) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Calavo Growers Inc. (Nasdaq:CVGW), Fuqi International Inc. (Nasdaq:FUQI), SIGA Technologies Inc. (Nasdaq:SIGA), Carmike Cinemas Inc. (Nasdaq:CKEC), Gander Mountain Co. (Nasdaq:GMTN) and Orion Marine Group Inc. (Nasdaq:ORN).

Calavo Growers Inc. (Nasdaq:CVGW), Hawkins Inc. (Nasdaq:HWKN) and KongZhong Corp. (Nasdaq:KONG) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ImmunoGen Inc. (Nasdaq:IMGN), SIGA Technologies Inc. (Nasdaq:SIGA), Diedrich Coffee Inc. (Nasdaq:DDRX), Frisch's Restaurants Inc. (Nasdaq:FRS), Carmike Cinemas Inc. (Nasdaq:CKEC) and Cott Corp. (Nasdaq:COT).

Exelixis Inc. (Nasdaq:EXEL), Perry Ellis International Inc. (Nasdaq:PERY) and Brown Shoe Company Inc. (Nasdaq:BWS) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Diamond Foods Inc. (Nasdaq:DMND), Geokinetics Inc. (Nasdaq:GOK), Monotype Imaging Holdings Inc. (Nasdaq:TYPE), Calavo Growers Inc. (Nasdaq:CVGW), John B  San Filippo & Son (Nasdaq:JBSS) and W&T Offshore Inc. (Nasdaq:WTI).

First M&F Corp. (Nasdaq:FMFC), Superior Industries International Inc. (Nasdaq:SUP) and Calavo Growers Inc. (Nasdaq:CVGW) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: 3D Systems Corp. (Nasdaq:TDSC), DTS Inc. (Nasdaq:DTSI), Blue Coat Systems Inc. (Nasdaq:BCSI), Sourcefire Inc. (Nasdaq:FIRE), TranS1 Inc. (Nasdaq:TSON) and Calgon Carbon Corp. (Nasdaq:CCC).

Small-cap stocks got hammered today as worries about the economy amid rising unemployment and fresh profit warnings in the technology sector sparked a wave of selling. Some of today’s small-cap gainers are InterOil (NYSE:IOC), ICT Group (Nasdaq: ICTG) and Synaptics Inc. (Nasdaq:SYNA).

Other Market Watch highlights today included:

• Decliners are leading advancers five to one on the Russell 2000.  
• President-elect Obama this morning said his stimulus plan will likely be at the high end of expectations, which helped pull stocks off the lows.  
• Intel issued a warning about revenue, which sent chills through the tech sector and kept concerns about the recession on the front burner.  
• Before the opening, the ADP National Employment Survey reported that 693,000 private sector jobs were lost in December, a record high for the survey which started in 2001.

Small Cap Gainers:

• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)  
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)  
• Synaptics Inc. is up 7.3% to $20.38 after news this morning of an upgrade by Lazard Capital. (See Nasdaq:SYNA)  
• Avocada company Calavo Growers, Inc. is up 6.6% to $12.51 after reporting record 4Q and FY2008 results before the opening. (See Nasdaq:CVGW)  

Small Cap Losers:

• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)  
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)  
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)

After a smack-down on Thursday small-cap stocks continued their slide into Friday. The Russell 2000 remained submerged midday after the unemployment rate jumped more-than-forecasted, adding to the economic case against the economy.

At 1:32 p.m. ET, the Russell 2000 (NYSE:IWM) was down 6.11, or 0.85%, at 712.51, off its lows of the session.

The jobs data disseminated from the Labor Department this morning sent equities into a tailspin, as the nation’s unemployment unexpectedly jumped to the highest level since December 2003. Unemployment rose to 6.1% from 5.7%, while economists were forecasting the rate to clock in roughly flat. Adding to the gloomy jobs report, non-farm declined by 84,000, wider than the forecasted decline of 75,000 jobs. This marked the eighth consecutive monthly decline in payrolls, which hasn’t happened since the 2001 to 2002 time frame.

“So far this year, 605,000 jobs have been lost,” Steven Wood, chief economist with Insight Economics, said in an email. “The economy has clearly slipped into a jobs recession because the housing meltdown and credit market turmoil has spread to the broader economy. Over the past year, the number of unemployed people has increased by more than 2.24 million and the unemployment rate has increased by 1.4 percentage point. In the post World War II period, every time the unemployment rate has jumped by a full percentage point or more in the course of a year, the economy has been in a recession.”

With the spotlight on the jobs market, oil’s slide midday did little to change the market’s direction. Crude oil futures had slid about $2 a barrel to $105 and change midday, as oil traders sold off the commodity in the face of weakening demand worldwide. The greenback was mixed against the euro and the yen. The euro had climbed to $1.4257 midday.

The market also overlooked that home foreclosures grew at the most rapid pace in nearly 30 years during the second quarter, as tough credit conditions persisted.

Pike Electric Corp. (Nasdaq:PEC), Cascade Corp. (Nasdaq:CAE) and BlueLinx Holdings Inc. (Nasdaq:BXC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Bridge Capital Holdings (Nasdaq:BBNK), Trex Co In (Nasdaq:TWP), B&H Ocean Carriers Ltd. (Nasdaq:BHO), Logility Inc. (Nasdaq:LGTY), China Direct Inc. (Nasdaq:CDS) and Calavo Growers Inc. (Nasdaq:CVGW).

Here are the biggest percentage losers among small caps:

Calavo Growers Inc. (Nasdaq:CVGW) was down 11.6% this morning, hitting a new 52-week low, after the avocado and perishable produce item provider reported fiscal 2008 third-quarter revenue that fell below at least one analyst's expectations.
 
The Santa Paula, Calif.-based company announced at 9 a.m. this morning that it earned $1.4 million, or $0.10 per share, on revenue of $96.9 million during the three months ended July 31. At least one analyst was expecting earnings of $0.10 on revenue of $113.9 million.
 
Looking ahead, Calavo also said it does not expect to realize fully the benefits of the downward trend in Mexican fruit prices during the fiscal fourth quarter.
 
By mid-morning, Calvao is at $9.90, down $1.30, after hitting a new 52-week low of $8.84 earlier in the day. Previously, the stock had traded between $10.54 and $25.15 in the past year.
 
For detailed price information and news stories on Calavo, click CVGW.

Editor’s note: This week we’re revisiting some of the companies that were profiled in this space earlier this year. This update is based on a May 9 article by Jennifer Allen, “Calavo Growers Inc.: The color of money.” Since the article ran, Calavo has given investors a hefty return of 51% and analysts believe the small cap will see even more growth in 2008.

The Superbowl is around the corner and everyone’s party supply list will most likely include guacamole, which is good news for Calavo Growers Inc. (Nasdaq: CVGW), a packer and distributor of fresh and processed avocados. The company also markets and sells tomatoes, mushrooms and pineapples. If you had initiated a position in the company when we first profiled it on May 9, you would have seen a hefty return of 51%.

While some of the growth looks as though it has rotted in its most recent quarter, peel off the skin and you’ll find things are still pretty ripe and the small cap’s strategic moves will pay off in the long run.

When SmallCapInvestor.com first put Calavo on the radar screen, the sourcer of avocados from mainly Mexico and Chile was racking in the green with record top and bottom-line results. For the first fiscal quarter ended Jan. 31, the company had posted record net income, rocketing 300% to $1.3 million, or $0.09 per diluted share, from a net loss of $0.05 per share in the year-ago quarter. Quarterly revenues rose 13% to a record $57.3 million.

The small cap was capitalizing on America’s new obsession with health foods, entering a stock repurchase agreement with California land owner Limoneria Co. (Pink Sheets: LMNR), reducing its exposure to California weather risk by becoming a major importer and exporter of avocados and becoming the largest packer of Mexican-grown avocados.

And guess what? It’s still doing all that — and more.

While the company’s most recent quarter was not nearly as impressive as its first quarter, the company’s efforts to reduce its weather risk certainly seem to have paid off, as downside from the Golden state’s weather was mitigated in its most recent quarter by its Mexican operations.

Everything’s coming up green for Calavo Growers Inc. (Nasdaq: CVGW). Sales of avocados, the company’s chief product, have never been stronger, and Calavo’s investors have been seeing green for the past year as the stock price has climbed steadily.

Calavo went public in 2001 after 78 years as a California avocado growers’ cooperative. Now it sources avocados from other locales, chiefly Mexico and Chile, and sells into international markets. Calavo in 2005 was the first company to market to China.

By transitioning from a grower cooperative to a public company, Calavo has taken the strategic steps toward becoming an international agribusiness. It has reduced its California weather risk by transforming into a major importer and exporter of avocados, and it’s the largest packer of Mexican grown avocados. It has added breadth to its business by purchasing Maui Fresh International, Inc., in 2003, a multi-product distributor of processed and packaged tropical fruits and chilies.

Calavo also has key demographics behind it: people increasingly want to eat healthy, and they love avocados, both fresh and processed. U.S. consumption more than doubled from 1996 to 2005, to 516,100 tons, as imports—and thus availability—increased.