Tag - GEHL

Life Partners Holdings Inc. (Nasdaq:LPHI), Questcor Pharmaceuticals Inc. (Nasdaq:QCOR) and Gehl Co. (Nasdaq:GEHL) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

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

AeroVironment Inc. (Nasdaq:AVAV), Hawaiian Holdings Inc. (Nasdaq:HA) and DXP Enterprises Inc. (Nasdaq:DXPE) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

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

Small-cap stocks rallied Monday, but most of the fireworks took place in the morning as the market awoke to news that government-sponsored enterprises Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) had been taken into conservator status by the government. There was an initial euphoria that pushed small-caps up some 3% in after-hours trading, but the market drifted well off the highs through midday as tech stocks continued to fret about the possibility of a global slowdown. An afternoon push in the final 30 minutes of trading helped lift the Russell 2000 (NYSE:IWM) to a gain of 14.01, or 1.95%, at 732.86; the small-cap benchmark is now down just 4.3% for the year. Meanwhile, the Dow was up 2.58% and the S&P 500 was up 2.05%. For 2008, the Dow is down 13.2% and the S&P 500 down 13.6%.

The market spent much of the day trying to decide if the Treasury Department’s takeover of Fannie Mae and Freddie Mac represented a long-term positive, or just a short-term stop-gap measure. Clearly, the outside world loved the news, as equity markets in Asia and Europe posted strong rallies overnight. There was a sense among investors that the government was basically forced to take this action, and that it would help pull some of the uncertainty out of the equation when it comes to trusting mortgage-related debt issues. Still, it’s a big leap from shoring up paper mortgage-backed securities debt to finding a bottom in the housing market slump.

In a research report earlier today, strategists at Goldman Sachs said that the GSE plan was a short-term bullish factor for equities and the U.S. dollar. “The move is consistent with the U.S. administration’s main aim to secure financial stability first, in the spirit of the Bear Stearns bailout in March and the declaration of the unusual and exigent circumstances by the Federal Reserve Board,” Goldman said . . .

Gehl Co. (Nasdaq:GEHL), Nevada Chemicals Inc.(Nasdaq:NCEM) and Meritage Homes Corp. (Nasdaq:MTH) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: America's Car-Mart Inc. (Nasdaq:CRMT), United Financial Bancorp Inc. (Nasdaq:UBNK), Amrep Corp. (Nasdaq:AXR), AMERISAFE Inc. (Nasdaq:AMSF), Suffolk Bankcorp (Nasdaq:SUBK) and Hanger Orthopedic Group Inc. (Nasdaq:HGR).

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

Small-cap stocks remained solidly higher into mid-session trading, but the morning euphoria sparked by the Treasury Department takeover of government-sponsored enterprises (GSE) was losing steam as tech stocks failed to join the party. At 12:42 p.m. ET, the Russell 2000 (NYSE:IWM) was up 9.27, or 1.29%, at 728.12, but well below the morning peak just shy of 740.

Tech shares slipped into the red, pulling down other index products as investors in tech stocks remain concerned that a global slowdown will curb spending on technology and curb investor appetite for the latest, greatest cell phone and personal computer gadgets. In addition to the slide in tech stocks, thrifts were getting absolutely hammered as the market basically gives up hope that preferred stock holders in Fannie Mae (NYSE:FNM) or Freddie Mac (NYSE:FRE) will get anything back, as the Treasury’s takeover appears to be focused on the credit side of things. Still, optimism about the GSE news provided a lift to homebuilding stocks and home furnishing stocks on ideas that it could help put a bottom in the slumping housing market. Also, financial stocks were boosted by ideas their exposure to debt through the GSEs would now be much more secure.

Some of the upside momentum in financial shares was stalled by a big slide in Lehman Brothers Holdings Inc. (NYSE:LEH), which was spooked by fears that valuable firm assets would be sold off at fire sale prices. LEH shares were down some 18%.

In addition to thrifts, coal stocks were getting pounded again today, a theme that has been repeated often in recent days following news that hedge funds with commodity stock ties have been liquidating. Also, steel, mining, aluminum and fertilizer . . .

Gehl Co. (Nasdaq:GEHL), Nevada Chemicals Inc. (Nasdaq:NCEM) and Champion Enterprises Inc. (Nasdaq:CHB) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: PHH Corp. (Nasdaq:PHH), Drew Industries Inc. (Nasdaq:DW), Anworth Mortgage Asset Corp. (Nasdaq:ANH), SI Financial Group Inc. (Nasdaq:SIFI), Meritage Homes Corp. (Nasdaq:MTH) and Heritage Oaks Bancorp (Nasdaq:HEOP).

Here are the biggest percentage gainers among small caps:

Small-cap stocks broke out of the gate this week like a rocket as investors cheerfully greeted news of a government takeover of mortgage giants Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE). At 10:02 a.m. ET, the Russell 2000 (NYSE:IWM) was up 12.92, or 1.80%, at 731.77.

The U.S. government had already inked plans to open credit windows to government-sponsored enterprises like FNM and FRE, but on Sunday the Treasury Department decided more drastic measures were needed, and stepped in to takeover the firms, which investors saw as a big relief to financial shares.

The clear immediate beneficiaries of the news were banks, insurance firms and brokerage firms. Even though preferred stock holdings in FNM and FRE might not be worth much now, the housing loans secured through GSEs should be on better footing for now. Shortly after the open, American International Group Inc. (NYSE:AIG) was up 5%, while Citigroup Inc. (NYSE:C) was up 7% and Bank of America Corp. (NYSE:BAC) was up 8%. The Financial Select Sector SPDR Fund was up 8%, while the PHLX KBW Banking Index was up 7%.

Stock markets around the world embraced the GSE takeover news, with Japan up 3.3%, Hong Kong up 4.2%, Taiwan up 5.5%, Australia up 3.9%, Singapore up 4.4%, South Korea up 5.2% and India up 3.1%, which also helped set the stage for a stunning morning climb in U.S. equities.

Looking beyond the news, it will be interesting to see how the market trades throughout the session from this morning’s immediate bullish reaction. The opening gap left by the overnight rally in stocks was huge — history suggests that an opening gap that is not filled within the first hour of trading often marks an important turning point for markets. Probably the most important trading time frames today will . . .

Shares of Gehl Co. (Nasdaq:GEHL) are spiking ahead of the opening after the compact equipment manufacturer said it will be acquired by Manitou BF S.A., a manufacturer and distributor of material handling equipment headquartered in France, for $30 per share, or aggregate enterprise value of approximately $450 million.  The buyout offer represents a 120% premium over the company’s closing price on Friday, September 5.

Shares soared 116%, or $15.89, to $29.55 in pre-market trading. For detailed price information and news stories on Gehl, click GEHL.  

Gehl Co. (Nasdaq:GEHL), Biodel Inc. (Nasdaq:BIOD) 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: China Sunergy Co Ltd (Nasdaq:CSUN), AuthenTec Inc. (Nasdaq:AUTH), UCBH Holdings Inc. (Nasdaq:UCBH), Spectranetics Corp. (Nasdaq:SPNC), Alvarion Ltd (Nasdaq:ALVR) and Investors Real Estate Trust Units (Nasdaq:IRET).

Here are the most actively traded companies among small caps:

Gehl Company (Nasdaq:GEHL) is off 10% today after cutting its 2008 outlook and reporting weaker second-quarter earnings ahead of the opening. For the quarter ended June 30, the company reported net income from continuing operations of $5.2 million, or $0.43 per share, compared with $8.8 million, or $0.71 per share, for the same period a year ago. The West Bend, Wis.-based company said its full-year outlook is now for net sales of $390 million to $410 million and earnings per share of $0.85 to $1.05. Wall Street is expecting earnings per share of $1.08 on revenues of $412 million.

“While weakness in the U.S. residential construction market provided headwinds to our business in the first half of the year, the Company maintained positive operating results, which reflects our diverse markets and effective cost savings initiatives,” said William D. Gehl, chairman and CEO in a statement. “As we work through these near-term challenges, the Company will continue to position itself for long-term growth as evidenced by several efforts undertaken this year, including expanding our presence in international markets, broadening our product offering with the successful launch of new products and continuing to drive our performance in the markets we serve.”

In today’s trading, shares are at $13.51 at 9:38 a.m. ET, down $1.48 from Friday’s close. Shares have ranged from $11.17 to $29.94 during the past year.

Small-cap stocks pushed higher in early trading, but slipped into the red after sobering consumer sentiment figures from the University of Michigan. At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was down 2.96, or 0.41%, at 714.12.

The University of Michigan’s consumer sentiment survey came in below expectations at 62.6% versus the median forecast of about 63.5%, and at 26-year lows, which appeared to spark a wave of selling across equities. The downside press after the Michigan numbers was a little surprising, because the survey seldom moves the market more than a few ticks. However, it may have simply been just an excuse for short-term longs to book profits ahead of the weekend instead of battling through key overhead chart resistance.

Once again, the market appeared to find initial buying interest on the back of earnings news, with American Express (NYSE:AXP) beating the forecast this morning, and climbing about 3% after the cash open. However, tech leader Microsoft (Nasdaq:MSFT) stumbled about 4% after the opening on sluggish earnings, so the news was mixed on some of the big name issues early today. Overseas stock market index products generated a nice rally, which provided a boost to investor psychology to start the session. European shares rose to three-week highs, while Japan’s Nikkei was up 2.3%.

President Bush held a very brief announcement about 15 minutes ahead of the stock market opening to let Americans know that their economic stimulus rebate checks were literally in the mail. The immediate response in stock futures trading . . .

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) failed to hold mid-morning gains and slipped into negative territory, as investors’ concerns about weak job reports sent stocks plunging. Before the opening, the Labor Department reported that payrolls plunged a greater-than-expected 63,000 in February, heightening recession fears and causing gyrations early in the session.

The Russell 2000 shed 0.40%, or 2.67 points, to 660.11. The Dow Jones Industrial Average lost 1.22%, or 146.7 points, to 11,893.69.

Economists were forecasting an increase in payrolls of 25,000 for February. Today’s data come on the heels of a larger-than-anticipated decline in payrolls in January of 17,000.

The unemployment rate was essentially unchanged at 4.8%, compared with 4.9% in January. Economists were projecting the unemployment rate to edge up to 5%.

Average hourly earnings rose by $0.05, or 0.3%, over the month, according to the Labor Department.

The Federal Reserve’s statement this morning that it will increase the amount of loans it makes to banks failed to calm concerns and buoy the market. Specifically, the central bank augmented auctions of four-week funds to banks to $50 billion from its original $30 billion planned for March 10 and March 24. The Fed also said it will avail an additional $100 billion through repurchase agreements.

In a statement, Fed officials also stipulated that the central bank will continue auctions for at least six months, and would increase the size of such auctions further if needed.

The Russell 2000 (NYSE: IWM) and the Dow failed to hold mid-morning gains and slipped into negative territory by midday, as investors’ concerns about weak job reports sent stocks plunging. Before the opening, the Labor Department reported that payrolls plunged a greater-than-expected 63,000 in February, heightening recession fears and causing gyrations early in the session.

At 2:45 p.m. ET, the small-cap index was down 6.95 points, or 1.05%, to 655.83. The Dow Jones Industrial Average (INDU) had sunk 194.89 points, or 1.62%, to 11,845.50.

Economists were forecasting an increase in payrolls of 25,000 for February. Today’s data come on the heels of a larger-than-anticipated decline in payrolls in January of 17,000.

The unemployment rate was essentially unchanged at 4.8%, compared with 4.9% in January. Economists were projecting the unemployment rate to edge up to 5%.

Average hourly earnings rose by $0.05, or 0.3%, over the month, according to the Labor Department.

The Federal Reserve’s statement this morning that it will increase the amount of loans it makes to banks failed to calm concerns and buoy the market. Specifically, the central bank augmented auctions of four-week funds to banks to $50 billion from its original $30 billion planned for March 10 and March 24. The Fed also said it will avail an additional $100 billion through repurchase agreements.

In a statement, Fed officials also stipulated that the central bank will continue auctions for at least six months, and would increase the size of such auctions further if needed.

The Russell 2000 (NYSE: IWM) futures are a hair above their closing level and the small-cap index will probably open flat.

Investors are cautiously optimistic on news that HSBC Holdings Plc reported a 10% increase in 2007 profit despite billions in bad debts associated with the U.S. housing sector. Europe’s largest bank attributed the positive result to strong growth in Asia.

Small-cap stocks collapsed Friday, gapping lower on the opening and never looking back. In the end, the Russell 2000 closed down 19.54, or 2.77% at 686.18, the third-largest point decline of the year. In today’s trading, chart support comes in at 683, 680 and 675. A breach of the latter could see a support “vacuum” down to 660 toward the 2008 bottom of 650. Meanwhile, resistance is pegged at 694, 701 and 712.

This week is a huge one for economic data, and things start off with a bang this morning as the market will react to the ISM Manufacturing Survey at 10:00 a.m. ET and throughout the day to various vehicle sales numbers.

The Russell 2000 (NYSE: IWM) managed a late-minute razor-thin gain while the major U.S. indices made solid advances on news of strong earnings and speculation of a rate cut. The small-cap index added 0.33 points, or 0.04%, to 821.72. The Dow Jones Industrial Average (INDU) gained 63.56 points, or 0.46%, to 13,870.26.

On a year-to-date basis, the Russell 2000 has increased 4.36%, while the Dow has added 11.19% and the S&P 500 has gained 8.78%.

The small-cap futures were pointing up before the start of trading following news that New York-based Verizon Communications Inc. (NYSE: VZ), the second largest U.S. telecommunications company, reported that revenue for the third-quarter increased 5.8% to $23.8 billion from $22.5 billion a year earlier.

Contributing to the bullish sentiment were retailers RadioShack Corp. (NYSE: RSH) and Best Buy Co. Inc. (NYSE: BBY), which reported upbeat third-quarter earnings.

Among small-cap companies, North American Galvanizing & Coatings (Nasdaq: NGA) rose on news that third-quarter profit more than doubled, while compact construction equipment maker Gehl Co. (Nasdaq: GEHL) fell on news of a decline in profit.

The major U.S. indices opened in positive territory and stayed there throughout the session.

However, small-caps were the exception. The Russell 2000 moved up initially but quickly stumbled and stayed in negative territory during the majority of the session, battling back into the green with just minutes before the close.

The Russell 2000 (NYSE: IWM) is down after opening with modest gains as investors reacted to upbeat earnings news.

At 10:41 a.m. ET, the small-cap index was down 1.34 points, or 0.16%, to 820.05. The Dow Jones Industrial Average (INDU) had added 33.08 points, or 0.24%, to 13,839.78.

There is nothing major being released on the economic front today, so all eyes are focused on the latest corporate earnings.

Verizon Communications Inc. (NYSE: VZ), the second largest U.S. telecommunications company, announced before the opening that revenue for the third-quarter increased 5.8% to $23.8 billion from $22.5 billion a year earlier. However, net income declined by 34% to $1.27 billion, compared with $1.92 billion during the third quarter of 2006.

Computer maker Dell Inc. (Nasdaq: DELL) also contributed to the bullish sentiment when it said that it would consider making more acquisitions. Round Rock, Texas-based Dell has acquired five companies in the past two years.

The Russell 2000 opened in positive territory, but unexpectedly fell after about 10:15 a.m. ET.

Among small-cap companies, Gehl Co. (Nasdaq: GEHL) is down on news that the maker of compact construction equipment reported a decline in third-quarter income. Meanwhile, North American Galvanizing & Coatings (Nasdaq: NGA) is gaining ground on news before the start of trading that third-quarter profit more than doubled.

Shares of Gehl Co. (Nasdaq: GEHL) are bleeding this morning after the manufacturer and distributor of compact equipment for construction and agricultural applications recorded lackluster third-quarter results and lowered its full-year guidance.

For the three months ended Sept. 30, the West Bend, Wis.-based company recorded income from continuing operations of $5 million, or $0.40 per diluted share, below the $0.56 per share three analysts polled by Thomson Financial were expecting on average. For the third quarter of 2006, Gehl recorded income from continuing operations of $7.4 million, or $0.59 per diluted share.

Net sales were $104.9 million, compared with net sales of $121 million in the third quarter of 2006. Two analysts polled by Thomson Financial were expecting revenue of $120.1 million.

Going forward, Gehl said it was lowering its full-year outlook based on the company’s results in the first nine months of 2007, current backlog position and management’s expectation that the North American housing market will continue to experience weakness for the balance of 2007. Gehl said it now expects net sales from continuing operations in the range of $445 million to $460 million and earnings per diluted share from continuing operations of $1.90 to $2. Gehl had previously estimated earnings would range between $2.05 and $2.25 per share. The consensus of three analysts polled by Thomson Financial is for earnings of $2.15 for the full year.

Shares of Gehl (GEHL) slipped 12.83%, or $2.68, to $18.36 in morning trading. Shares of Gehl have been trading in the range of $19.66 to $33.17 for the past 52 weeks.

Until the housing market finds its footing, demand for Gehl Company’s (Nasdaq: GEHL) building equipment will continue to slide. Take the skid loader...please.

Auguring a rocky rest of 2007, Gehl (Nasdaq: GEHL), which makes compact equipment for residential and industrial markets, said last week with second quarter results that housing demand was worse than expected. Gehl’s order backlog as of June 30 was 40% below last year’s level and down 34% sequentially. Dealer inventories also grew by about ten days in the second quarter. The West Bend, Wis., company is now working off of large orders placed in the first quarter and expects its backlog to decline through the year.
 
As sales slowed, Gehl’s earnings fell to $0.71 per diluted share for the quarter, down from $0.75 in the same quarter of 2006. Revenues also were down, at $135.3 million, from $139.5 million. Because of its shallow backlog and weak North American housing market, Gehl cut back on guidance for the year, now looking for earnings of $2.05 to $2.25 per share, compared with previous guidance of $2.15 to $2.35, and compared with $2.26 in 2006. The company is now pegging sales at $465 million to $485 million, down from its earlier range of $475 million to $500 million, compared with $486 million in 2006.

Maneuverability is at the heart of Gehl’s business: it makes skid loaders, telescopic handlers and other compact earth-moving equipment used where space and utility are at a premium. Maneuverability is a quality Gehl needs badly, as well, for the company is trying to navigate the rotten foundation of an ongoing housing slump.

Although Gehl serves agricultural needs, its outlook is firmly tethered to residential and industrial demand. And the outlook there—barring those who believe in quick fixes—is daunting. From the Census Bureau for June: building permits for housing units were down 7.5% from May and were 25.2% below those of a year earlier. Housing starts were up 2.3% from May but down 19.4% from June 2006.

Gehl Company (Nasdaq:GEHL), which a manufactures and distributes compact equipment for construction and agricultural markets, today reported robust second quarter results, but downwardly adjusted its fiscal year outlook.

For the three months ended June 30, income from continuing operations was $8.8 million, or $.71 per diluted share, compared with income from continuing operations of $9.4 million, or $.75 per diluted share, for the second quarter of 2006. Three analysts polled by Thomson Financial were expecting earnings of $0.68 per share.

Net sales for the second quarter of 2007 were $135.3 million compared with net sales of $139.5 million in the second quarter last year.  Two analysts polled by Thomson Financial were expecting revenues of $134.55 million.

The West Bend, Wis.-based company also adjusted its fiscal year outlook for the remainder of 2007. Gehl says it will continue to experience weakness for the second half of the year on account of the company’s current backlog position and expectations that the North American housing market will continue to experience weakness. The company says it now expects net sales from continuing operations of $465 million to $485 million and earnings per diluted share from continuing operations of $2.05 to $2.25.

These are the bigges percentage gainers at 10:36 ET among companies with market capitalizations under $500 million: