Tag - GVHR

Stocks continued their drop from the opening on a pullback in energy prices and on rumors that small-cap General Motors (NYSE:GM) may file bankruptcy.  Some of today’s small-cap gainers were Gevity HR (Nasdaq:GVHR), Weight Watchers International (NYSE:WTW) and Genesco, Inc. (NYSE:GCO).

Other Market Watch highlights today included:

• Investors are pulling their money out of equities and piling into bonds and gold.  
• The market is extremely anxious ahead of Friday's February Labor Department report that is likely to show the loss of hundreds of thousands of jobs. 
• Stocks across the board were falling today, with those in the banking sector posting some of the steepest losses.
• The bad news out this morning weighed on stocks, and included a survey release that showed nearly 12% of mortgage holders are behind on payments or are in foreclosure.

Small Cap Gainers:

• Gevity HR up 85% On TriNet deal at 97% premium. See (Nasdaq:GVHR). 
• Weight Watchers International is up 16% on heavier-than-average volume. See (NYSE:WTW).
• Genesco, Inc. is up 10% after reporting positive Q4 profit results. See (NYSE:GCO).  
• Cornell Companies is up 5% after reporting a rise in Q4 profit. See (NYSE:CRN). 

Small Cap Losers:

• Solutia subsidiary moves forward with patent infringement suit; shares fall 53%. See (NYSE:SOA).
• Jackson Hewitt Tax Service falls 44% after guiding below estimates. See (NYSE:JTX).  
• GE Railcar tells Greenbrier it wants fewer railcars; GBX shares fall 31%. See (NYSE:GBX).  

Small-cap stocks went into freefall mode Thursday, weighed down by fears that the U.S. economy is careening toward recession following a fresh batch of awful economic indicators today and worries in front of the employment report Friday. In addition, jitters ahead of an expected House vote on a revamped version of the $700 billion bailout of financial institutions overshadowed any upbeat response to the Senate’s overwhelming approval of the rescue plan overnight.

The Russell 2000 (NYSE:IWM) shed 33.92, or 5.05%, to 637.67, the lowest daily close in nearly three years. Today’s slide marked the second-largest one day decline of the year, and just the fifth time the market has suffered a session loss greater than 4%. All five of those instances have taken place in just the last two weeks of trading. After flirting with a yearly gain just two weeks ago, small-cap stocks are now down 16.7% for 2008; meanwhile, the Dow is off 20.9%, the S&P 500 off 24.1%.

The market was already in a shaky position this morning when weekly unemployment claims soared to the highest level since September 2001, an ominous sign ahead of Friday morning’s big monthly employment report. Breaking down the details of the claims report failed to serve up any silver linings either, as the four-week moving average for claims was the highest in seven years and continuing claims were at a five-year peak.

The claims data was a harsh blow just a day after manufacturing data from the ISM Manufacturing Survey was at recession levels and vehicle sales stalled to stunningly weak 16-year lows. Just to underscore the manufacturing malaise in play right now, today’s factory orders report tumbled to minus 4.0%, well below the forecast of minus 2%.

The combination of sinking equity prices, slumping economic conditions and a sudden collapse in commodity prices had market participants talking about deflation — an ironic surprise given fears of soaring inflation were all the rage just a few weeks ago. Crude oil prices dropped $4.56 a barrel Thursday to $93.97, while gold, . . .

Matrix Service Co. (Nasdaq:MTRX), Gevity HR Inc. (Nasdaq:GVHR) and PHH Corp. (Nasdaq:PHH) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Elbit Imaging Ltd (Nasdaq:EMITF),Celadon Group Inc. (Nasdaq:CLDN),Titan Machinery Inc. (Nasdaq:TITN),Och Ziff Capital Management Group (Nasdaq:OZM), Parker Drilling Co. (Nasdaq:PKD) and CVR Energy Inc. (Nasdaq:CVI).

Here are the biggest percentage losers among small caps:

Small-cap stocks remained under heavy selling pressure into mid-session, as yet another soft economic data report kept a dark mood in tow for investors. At 12:55 p.m. ET, the Russell 2000 (NYSE:IWM) was down 20.37, or 3.03%, at 651.22, hitting the lowest point on intraday charts since mid-July.

The market was already in a foul mood this morning following news that unemployment claims soared to a seven-year high – which is not encouraging on the eve of the big monthly jobs release. Then, just to rub a little salt in that wound, factory orders came in well below the forecast at minus 4%, compared with expectations for a slide of 2%. Wednesday’s dreadful ISM Manufacturing Survey already suggested that manufacturing was in recession territory, and today’s factory orders report certainly didn’t do anything to squash those fears.

Although most prognosticators are predicting the House will approve the revamped version of the $700 billion “Paulson Plan” bailout of the financial market credit mess, there is still some uncertainty lingering in the air. After all, everyone expected the House to OK the previous plan before they shot it down last week. History repeatedly shows us that the stock market tends to trade aggressively in only one direction amid uncertainty – and that is south.

The push for a safe-haven has been evident so far today, with money moving into Treasury products. The yield on benchmark 10-year notes is down about 1.7% (yields move inverse to price) which reflects strong demand for Treasury products. The dollar is on a strong upward thrust today, lifted primarily by a sinking euro after the ECB kept rates steady at its policy meeting today and the ECB chief cautioned that . . .

Small-cap stocks went into rally mode Tuesday, quickly reclaiming lost ground from Monday’s downward spiral as crude oil tanked and consumer sentiment perked up from the abyss. The Russell 2000 (NYSE:IWM) closed up 18.44, or 2.65%, at 714.55, generating the 10th-largest one-day rally of the year. This also marked the fourth one-day gain in July of 2% or more. The only other month this year that saw that many 2% rally days was in March — when the market forged an important bottom.

During the session, crude oil prices shed more than $3 dollars a barrel, retreating below $121 while approaching three-month lows. By the close, crude was off $2.54 dollars to $122.19. Concern about the demand side of the equation continues to discourage energy bulls, and OPEC president Chakib Khelil said that crude oil prices could tumble to the $70- to $80-range if the U.S. dollar strengthens and if political tensions ease in the Middle East. The U.S. dollar jumped to four-week highs against the euro, heating up talk that the short dollar/long energy hedge fund trade was still being unwound. The greenback was on a roll against the yen, rising to four-week highs, while gaining about 0.6%.

The recent collapse in crude oil prices (crude is off some 17% from the July peak) has been a welcome sign to stock market investors who worried that persistent gains in the energy market would have crippled consumer spending and thwarted any recovery attempts in the U.S. economy — especially with the housing market still reeling.

Speaking of the housing situation, the Case-Shiller Home Price Index came out today. To no one’s surprise, the Index slipped to record low levels and suggested that home prices were at four-year lows. However, the report was in line with expectations, the data is for the May time frame, and was completely overshadowed by the consumer confidence report, which came in well above expectations. The headline figure for consumer confidence was at 51.9, which easily topped the analyst forecast of 50. It should be noted that 51.9 is still a low number historically, but with crude oil sinking, the dollar surging and several key economic numbers still on tap this week, a good sentiment figure simply made it even more difficult for the shorts to . . .

ILOG ADR (Nasdaq:ILOG), Headwaters Inc (Nasdaq:HW) and Gevity HR Inc (Nasdaq:GVHR) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Pzena Investment Management Inc (Nasdaq:PZN), UAL Corp (Nasdaq:UAUA), Modine Manufacturing Co (Nasdaq:MOD), ArvinMeritor Inc (Nasdaq:ARM), Meritage Homes Corp (Nasdaq:MTH) and Stepan Co (Nasdaq:SCL).

Here are the biggest percentage gainers among small caps:

Small-cap stocks grinded out a higher session Wednesday, overcoming an upward reversal in crude oil and a cavalcade of losses in the financial sector as investors embraced a surprisingly stout durable goods report as a sign that the economic pastures were starting to green up ahead. The Russell 2000 (NYSE:IWM) gained 4.07, or 0.55%, to 738.46.

At first blush, the most dynamic news events today would appear to be a big hurdle for small caps to overcome. An overnight smile over another slide in crude oil prices turned into a midday frown as the market for “black gold” reversed course and charged back above $131 dollars barrel. With pump prices now north of $4 dollars a gallon in many parts of the United States, the lofty energy market threatens to pinch off discretionary consumer funds and crimp any economic recovery.

What’s more, the banking sector took it in the chin today, pulled down by mounting loan losses, capital raising efforts and analyst downgrades on investment banks. Marquee financial stocks under pressure today included American International Group (NYSE:AIG), which tumbled about 4%, KeyCorp (NYSE:KEY), which shed about 11% and Lehman Bros. (NYSE:LEH), which dropped about 1%. Regional banks were plowed under by the credit crunch issue, with Fifth Third Bancorp. (Nasdaq:FITB) off some 3.5% and Comerica Inc. (NYSE:CMA) down more than 4% as well. When looking at a rundown of the big percentage losers today, the list was littered with various banks, large and small alike.

The biggest sector losers accompanying regional banks included multi-line insurance firms, specialized finance stocks, diversified banks and brewers. On the upside, buyers were attracted to fertilizer shares, apparel companies, steel stocks, forest products and casinos.

Among individual small caps, Daktronics Inc. (Nasdaq:DAKT) gapped higher this morning and gained some 14% on unusually brisk volume, spurred on by positive earnings news. Also, Gevity HR (Nasdaq:GVHR) rallied about 12%, with the . . .

Northern Technologies International Corp (Nasdaq:NTI), Community Partners Bancorp (Nasdaq:CPBC) and Akeena Solar Inc (Nasdaq:AKNS) are among the biggest percentage gainersin Wednesday's trading among companies with market capitalizations under $1 billion.

General Steel Holdings Inc (Nasdaq:GSI), Gevity HR Inc (Nasdaq:GVHR) and Himax Technologies Inc (Nasdaq:HIMX) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

Small caps have been on a rollercoaster ride in Wednesday trading after opening higher, slipping into the red midday and returning to the green in afternoon action as the showdown between crude oil and stocks resumed and investors digested a better-than-expected durable goods order.

At 1:17 p.m. ET, the Russell 2000 (NYSE:IWM) was up 0.16, or 0.02%, to 734.55, while the Dow was up 6.43, or 0.05%, to 12,554.78.

After deflating earlier in the session on news that Saudi Arabia would increase production and that Asian demand could begin to ebb because of high price levels, oil spiked sharply midmorning to resume its upward climb from last week.  At its lowest point of the trading day, the commodity had leaked roughly $3 a barrel.

Though oil reversed course, the dollar remains in the green against the euro and the yen midday, while gold has sold off $7.50 to $900 per troy ounce.

Oil’s climb generally has the affect of pressuring stocks, as traders fear the inflationary impact on consumers’ disposable income for gas, food and discretionary items.

In economic news, small caps were initially lifted this morning after the Commerce Department reported pre-bell that durable goods orders edged down 0.5%; narrower than the forecasted slide of 1%. The bright spot that ignited optimism, however, was on the ex-transportation figure, which was up 2.5%, substantially greater than the consensus forecast of for a gain of 0.5%. Also, orders for non-defense capital goods excluding aircraft leaped 4.2% in April, which is the first increase since December.

The Russell 2000 (NYSE: IWM) is posting a gain despite news of a surprising jump in January producer prices.

At 10:14 a.m. ET, the small-cap index was up 3.78 points, or 0.53%, to 714.24. The Dow Jones Industrial Average (INDU) was down 10.10 points, or 0.08%, to 12,560.12.

Small-cap stocks are in the green despite news that producer prices increased 1% in January, according to the U.S. Labor Department before the start of trading. That’s more than the expected increase of 0.4% and follows a 0.3% decline in December.

The core index, which excludes the cost of food and energy, added 0.4%. Economists were projecting an increase of 0.2% following a similar rise in December.

The numbers, which measure the selling prices received by domestic producers for their output, show that inflation pressures remain despite the current economic slowdown.

Shares of Gevity HR Inc. (Nasdaq: GVHR) are higher on news that the Bradenton, Fla.-based employment management solutions company reported fourth-quarter revenue that beat analysts’ forecasts.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) fell throughout Thursday’s trading session on weaker-than-expected durable goods orders and lackluster financial firm news, magnifying investors’ already present concerns surrounding a possible economic slowdown. The small-cap index dropped 23.52 points, or 2.95%, to 773.51. The Dow shed 192.08 points, or 1.42%, to 13,359.61.

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

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.

The day’s negative news overshadowed U.S. consumer confidence, which rose unexpectedly in December. The Conference Board's index of confidence increased to 88.6, the first gain in five months, from a revised 87.8 the prior month. November's number was the lowest in two years.

The Russell 2000 (NYSE: IWM) rallied and posted gains for the fourth consecutive day on news that the American consumer remains strong. The small-cap index added 18.06 points, or 2.35%, to 785.60. The Dow Jones Industrial Average (INDU) climbed 205.01 points, or 1.55%, to 13,450.65.

On a year-to-date basis, the Russell 2000 is off 0.23%, while the Dow is up 7.83% and the S&P 500 has risen 4.79%.

The bulls completely dominated trading today on news that personal spending rose a better-than-expected 1.1% in November, according to the U.S. Commerce Department. The increase, the biggest in over three years, came as consumers responded favorably to holiday discounts offered by retailers.

Economists were expecting spending to increase 0.7% after a rise of 0.2% in October.

The news calmed fears that consumers will cut back on spending due to falling home prices and higher energy costs. Consumption is about 70% of gross domestic product.

However, Americans are still apprehensive about the economy and their personal finances.

A Reuters/University of Michigan consumer survey showed that consumer sentiment fell to 75.5 in December from 76.1 in November. That’s the lowest level since September 2005, when the country was dealing with the aftermath of Hurricane Katrina.

Economists had actually forecasted a slightly steeper decline to 74.5. Consumer sentiment measures whether or not consumers feel like spending money.

The Commerce Department also reported that personal income in November rose a lower-than-expected 0.4% following an increase of 0.2% in October.

In corporate news, Merrill Lynch (NYSE: MER) also contributed to the bullish sentiment. A report in The Wall Street Journal claims that the New York-based company will sell a stake of itself for a $5 billion cash injection from Singapore’s state investment company.

The Russell 2000 (NYSE: IWM) fell today following news of a decline in U.S. manufacturing in November. The small-cap index lost 7.80 points, or 1.02%, to 759.97. The Dow Jones Industrial Average (INDU) stumbled 57.15 points, or 0.43%, to 13,314.57.

On a year-to-date basis, the Russell 2000 is off 3.49%, while the Dow has added 6.73% and the S&P 500 is up 3.94%.

The futures were pointing north and the major U.S. indices opened in the green but immediately fell as investors anticipated a decline in November manufacturing activity.

The Institute for Supply Management’s manufacturing index, released at 10 a.m. ET, showed a reading of 50.8, below October’s level of 50.9 but above economists’ projections of 50.5. A reading above 50 is an expansion.

“While other segments of the economy are struggling, manufacturing continues to grow due to continuing strength in new orders and a recovery in production from last month,” said Norbert Ore, chair of the ISM’s Manufacturing Business Survey Committee, in a statement.

Exports, production and new orders increased, while employment declined 4.2% compared with the level in October.

Small-cap stocks fell despite news of the smaller-than-expected decline.

The Russell 2000 (NYSE: IWM) is down despite a brief climb into positive territory on news of a plan to bring relief to struggling homeowners. At 2:43 p.m. ET, the small-cap index had lost 3.89 points, or 0.51%, to 763.88. The Dow Jones Industrial Average (INDU) had retreated 43.74 points, or 0.33%, to 13,327.98.

The U.S. Treasury Department is working on a plan to ease the pain of borrowers with subprime adjustable-rate mortgages, Treasury Secretary Henry Paulson said in a speech after the start of trading.

Paulson has been working with members of the mortgage industry on a plan that would help borrowers by freezing their introductory interest rates instead of having them reset to higher rates after a certain period of time, the way it is now. One of the issues currently in discussion is the length of the freeze.

A complete relief package has not yet been hammered out, while Paulson, who was speaking at an event organized by the Treasury Department’s Office of Thrift Supervision, did not give specifics on when a final agreement would be reached.

However, some observers expect a deal to be reached later this week.

Stocks reacted positively to the news, with the Russell 2000 posting gains shortly before 1 p.m. ET, only to fall down again. The Dow stayed in the green for longer before also succumbing to the bearish pull.

In other news, U.S. manufacturing continued to expand in November, but at a slower pace. The Institute for Supply Management’s manufacturing index fell to 50.8 from 50.9 in October. A reading above 50 indicates an expansion.

Shares of Gevity HR, Inc. (Nasdaq: GVHR) are climbing on high volume today after JMP Securities upgraded the provider of human resource management to “market out perform” from “market perform” based on deep undervaluation.

After being pummeled by earnings disappointments, a rough macroeconomic environment and business model changes, JMP Securities analyst Kevane Wong says that valuation on the stock is “overdone,” as it trades below its hard book value of $4.32, according to the analyst.

The stock’s current valuation reflects market expectations that Gevity is likely to go out of business; however, Wong says he recently received a vote of confidence from a major vendor to Gevity that refuted his initial concern regarding risk of further client attrition due to changes in the company’s business model — a key source behind the stock’s current valuation. According to Wong, a major vendor to Gevity told him that “indications from this year’s open enrollment process point to a fairly stable customer base at Gevity going into 2008.”

A glimmer of positive news has indeed emerged, but the nature of Gevity’s uncertain future business and other signs signal that shrewd investors might heed caution. Gevity’s common stock currently trades with an 8.5% dividend rate. According to Wong, management indicated on the company’s third-quarter earnings call that it intends to continue to pay dividends “subject to board approval”.

“This clearly leaves the door open for a cut or discontinuance of the dividend,” Wong wrote in a research note today. The analysts said he believes the decision surrounding the dividend will depend on the outcome of the company’s revolving debt renegotiations and 2008. Wong noted he would view a continuance of the dividend as a particular vote of confidence by the company.

“While there are clearly ongoing risks, we believe the current valuation on the stock outweighs the downside risks to the stock,” Wong wrote. Wong has tacked a price target of $7 on the stock.

Shares of Gevity (GVHR) jumped 23.09%, or $0.98, to $5.23 at 12:56 p.m. ET. Shares of Gevity have been trading in the range of $4.06 and $24.11 for the past 52 weeks.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices fell today as credit worries resurfaced following news of losses at Citigroup. The small-cap index fell 7.34 points, or 0.92%, to 790.44. The Dow Jones Industrial Average (INDU) lost 51.70 points, or 0.38%, to 13,543.40.

On a year-to-date basis, the Russell 2000 has increased 0.38%, while the Dow has added 8.57% and the S&P 500 has gained 6.04%.

The bears dominated trading today following news that Citigroup Inc. (NYSE: C), the largest U.S. bank, expects to incur additional losses of up to $11 billion after already suffering $6.5 billion in credit-related losses in the third quarter.

Analysts forecast that the credit problems will negatively affect Citibank in the fourth-quarter and lead to a net loss.

That was enough to scare investors, who had been hoping that this summer’s credit problems were in the past. Wall Street will now keep a watchful eye on other banks and brokerages for signs of additional losses stemming from the recession in the U.S. housing sector.

Many financial institutions bought securities backed by subprime mortgages that have become worthless in the wake of falling home prices and a wave of foreclosures by cash-strapped homeowners. No one knows for certain the extent to which the subprime debacle will damage the financial sector.

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:

Gevity HR, Inc. (Nasdaq: GVHR) CEO Michael Lavington said 2008 will be a year of “rebuilding and refocus” for the human resources outsourcing company. The chief executive made the comments during a midday conference call.

“Going forward, Gevity will be run on the basis of profitable contribution and cash flow and not on work-site employee growth,” Lavington said. “We will not be chasing high-risk business and we plan to clean up our book of unprofitable clients.”

On Oct. 19, Gevity reported its former CEO Erik Vonk stepped down and promoted Lavington, the COO, to take over both positions. Vonk attempted to move the company into staffing services without workers’ compensation and health insurance, in hopes of achieving a simpler business model. However, Vonk’s plan flopped as several important clients left and Gevity lost significant business.

The company plans to focus more on its professional employer organization, or PEO, segment. PEOs handle payroll, tax filings, worker compensation, labor compliance and other human resources-related tasks for businesses.
 
Before the opening, the Bradenton, Fla.-based company reported third-quarter revenue of $146.5 million, 4% below analyst estimates of $153 million and down 9% from $160.6 million a year earlier.

The firm’s quarterly profit fell 74% to $2.5 million, or $0.10 per share, missing Wall Street projections of $0.13 per share and compared with $9.6 million, or $0.35 per share, during the same period of 2006.

“We’ve had a disappointing year,” Lavington said. “A contributor has been the worsening economic conditions. Of all our regions, Florida has been the worst hit. We have also lost some of our larger clients in certain industries who have gone out of business.”

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are in negative territory as credit fears return to Wall Street. At 1:46 p.m. ET, the small-cap index had shed 9.67 points, or 1.21%, to 788.11. The Dow Jones Industrial Average (INDU) was down 108.44 points, or 0.80%, to 13,486.66.

Financial stocks are leading the way down after Citigroup Inc. (NYSE: C) announced before the start of trading that it expects additional losses of up to $11 billion after already suffering $6.5 billion in credit-related losses in the third quarter.

Analysts are estimating that the credit problems will negatively affect Citibank in the fourth-quarter and lead to a net loss.

The news brought out the bears and spooked investors, who were hoping that this summer’s credit problems were in the past, but recent events have revived the issue. Investors will also want to see if other banks and brokerages report additional losses.

Many financial institutions bought securities backed by subprime mortgages that have become worthless in the wake of the recession in the U.S. housing market and the wave of foreclosures by cash-strapped homeowners.

Small-cap stocks are also sagging this afternoon, with Sanders Morris Harris Group Inc. (Nasdaq: SMHG) down 2% while Stifel Financial Corp. (Nasdaq: SF) has dropped 6%.

The Russell 2000 (NYSE: IWM) is down more than the other major U.S. indices as credit fears spread on Wall Street.

At 10:38 a.m. ET, the small-cap index had shed 6.28 points, or 0.79%, to 791.50. The Dow Jones Industrial Average (INDU) had lost 52.11 points, or 0.38%, to 13,542.99.

Citigroup Inc. (NYSE: C) announced this morning that it expects additional losses up to $11 billion after already suffering $6.5 billion in credit-related losses in the third quarter. The New York-based bank, the largest in the United States, also said that CEO Charles Prince has left. He is to be replaced by Robert Rubin, a former Treasury secretary and economic advisor to President Clinton.

Analysts are estimating that the credit problems will negatively affect Citi’s fourth-quarter results and are expecting to see a loss. The bank said that its write-offs may increase if markets worsen. It has $55 billion of securities backed by subprime mortgages in its pocket.

Investors had been hoping that this summer’s credit problems were in the past, but recent events put the issue on center stage.

In economic news, growth in the U.S. services industry slowed in October, according to the Institute for Supply Management. Its index of non- manufacturing businesses fell to 54 from 54.8 in September, the group said after the start of trading. The decline was expected by economists. A reading over 50 indicates growth.

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

Biggest percentage gainers:

• Multi-Fineline Electronix Inc. (MFLX), up 27% on news of a higher fourth-quarter profit.
• BioSphere Medical, Inc. (BSMD), up 20%. A company representative could not be reached for comment.
• Ballard Power Systems Inc. (BLDP), up 15% on news it is reviewing strategic options.

Biggest percentage losers:

• Gevity HR Inc. (GVHR), down 28% on news of a lower third-quarter profit and a disappointing fourth-quarter guidance.
• Orbotech Ltd. (ORBK), down 9% on news of a decline in third-quarter profit.
• T-3 Energy Services Inc. (TTES) down 9%. A company representative could not be reached for comment.

Packeteer, Inc. (Nasdaq: PKTR) said the IRS claims the computer network company owes additional taxes and penalties of approximately $171 million.

These are the biggest percentage losers in Friday’s trading among companies with market capitalizations under $500 million: