Tag - HIRE

HireRight Inc (Nasdaq:HIRE), Computer Task Group Inc (Nasdaq:CTGX) and Stepan Co (Nasdaq:SCL) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sun Hydraulics Corp (Nasdaq:SNHY), National Research Corp (Nasdaq:NRCI), Wilshire Bancorp Inc (Nasdaq:WIBC), National Presto Industries Inc (Nasdaq:NPK), Tele Norte Celular (Nasdaq:TCN) and LeapFrog Enterprises Inc (Nasdaq:LF).

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

Vital Signs Inc (Nasdaq:VITL), Almost Family Inc (Nasdaq:AFAM) and HireRight Inc (Nasdaq:HIRE) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Citizens & Northern Corp (Nasdaq:CZNC), Axsys Technologies Inc (Nasdaq:AXYS), International Assets Holding Corp (Nasdaq:IAAC), Omega Protein Corp (Nasdaq:OME), Emergent BioSolutions Inc (Nasdaq:EBS) and NATUS MEDICAL INC. (CA) (USA) (Nasdaq:BABY).

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

Quest Resource Corp (Nasdaq:QRCP), Boston Pri Finl Holdings (Nasdaq:BPFH) and Vasco Data Security International Inc (Nasdaq:VDSI) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: TASER International Inc (Nasdaq:TASR), Vital Signs Inc (Nasdaq:VITL), HireRight Inc (Nasdaq:HIRE), SIERRA WIRELESS INC (Nasdaq:SWIR), MKS Instruments Inc (Nasdaq:MKSI) and Crocs Inc (Nasdaq:CROX).

Here are the most actively traded companies among small caps:

Small-cap stocks generated a solid rally through several minor economic reports this morning and then sustained the upside push through a volatile, but ultimately upbeat reaction to the Federal Open Market Committee announcement, which either stalled or ended a rate cut cycle that began back in September 2007. For the day, the Russell 2000 (NYSE:IWM) rallied 8.38, or 1.18%, to 716.30.

The rally in small caps basically recovered about two-thirds of the big slide from Tuesday, but failed to suggest that the market’s breakdown into a new lower range was premature. It will take a decisive push back above 720.50 to validate any kind of bottoming action from today’s rally, or else it will simply look like a dead-cat bounce amid oversold conditions.

The much-awaited FOMC news fulfilled market expectations, and the rally in stocks in the face of no rate cut to serve up cheap money in difficult times was a decent showing.

As for the announcement itself, “The bottom line is that the Committee is now in a wait-and-see mode to see how the economy and inflation unfold during the second half of the year,” Steven Wood, chief economist with Insight Economics, said in an email.

Wood noted that an improvement in economic conditions should spur tighter monetary policy but that a weaker economy might not prompt further rate cuts unless inflation abates. “We believe that the tax rebate effect on consumer spending will quickly fade as the summer progresses and energy prices stabilize or retreat slightly. This . . .

HireRight Inc (Nasdaq:HIRE), Mid Penn Bancorp Inc (Nasdaq:MBP) and Industrial Services of America Inc (Nasdaq:IDSA) 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 are rallying in Wednesday midday trading, as oil futures declined sharply after the Energy Department said oil and fuel supplies are larger than expected. Investors are waiting for news from the Federal Reserve’s rate committee, which wraps up a two-day meeting this afternoon. The Fed is widely expected to end the rate cut cycle and talk tough on inflation. At 2:01 p.m. ET, the Russell 2000 (NYSE:IWM) was up 7.88, or 1.11%, at 715.80.

Crude oil prices are sharply lower in afternoon trading. The Energy Department said in its weekly inventory report that crude oil supplies rose, while Wall Street expected a 1.7 million barrel decline. The supply increase gave investors reason to believe that skyrocketing gas prices have lowered demand. Crude is down 3% to $132.73 a barrel in recent trading.

The new home sales report clocked in at minus 2.5% and the inventory of new homes was at 10.9 months, which was a mild rise over the previous report. Although the home sales data was weak, it didn’t deter the stock market, which is already focused on the Fed later today.

“Set the snooze button for 2:15 ET PM today for the FOMC decision and we'll all be tearing apart the text for nuances on what to expect going forward. Market has 50 basis points of tightening priced in for Fed Funds by the end of December,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “The U.S. Treasury's auction of two-year notes Tuesday showed a big surge in demand with the bid to cover ratio at 2.64, up from 2.28 last and an indirect foreign bids of 27.7% that show Treasury market participants believe the Fed tightening . . .

Spherion Corp (Nasdaq:SFN), Image Sensing Systems Inc (Nasdaq:ISNS) and Amcore Financial Inc (Nasdaq:AMFI) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: TomoTherapy Inc (Nasdaq:TOMO), HireRight Inc (Nasdaq:HIRE), Pantry Inc (Nasdaq:PTRY), Community Capital Corp (Nasdaq:CPBK), Gateway Financial Holdings Inc (Nasdaq:GBTS) and Nelnet Inc (Nasdaq:NNI).

Here are the biggest percentage gainers among small caps:

Small-cap stocks opened higher Wednesday, providing a welcome respite to the bulls who endured a slide to two-month lows in the Russell 2000 the previous session. The market was underpinned by short-covering amid oversold conditions ahead of this afternoon’s FOMC meeting announcement and by a bounce in financial stocks. At 10:02 a.m. ET, the Russell 2000 (NYSE:IWM) was up 4.67, or 0.66%, at 712.59.

The new home sales report came in at minus 2.5% and the inventory of new homes was at 10.9 months, which was a mild rise over the previous report. Although the home sales data was weak, it didn’t deter the stock market, which is already focused on the FOMC later today.

Earlier this morning, orders for May durable goods came in unchanged, which was slightly softer than the forecast for a rise of 0.1%. Although durables missed the median forecast, it was close enough to have very little impact on stock market trading.

Also on the data front, the MBA mortgage application survey came in at minus 9.3%, which was the lowest level since July 2001. In addition, the report showed that the purchasing index fell 7.4% to the lowest point since February 2003. Also, the refinance index tumbled 12.1% to the lowest level since July 2001. With the housing market still soft and rates firming, mortgage activity has slowed to a crawl.

Crude oil prices were lower this morning, which allowed some breathing room for this morning’s bounce in U.S. equities. However, stocks remain extremely sensitive to intraday gyrations in energy prices, and any rise in black gold during the session could endanger the early bounce in stocks. The weekly inventory report is slated . . .

Third Wave Technologies Inc (Nasdaq:TWTI), Luminex Corp (Nasdaq:LMNX) and Royale Energy Inc (Nasdaq:ROYL) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: HireRight Inc (Nasdaq:HIRE), Apogee Enterprises Inc (Nasdaq:APOG), Sonic Corp (Nasdaq:SONC), UAL Corp (Nasdaq:UAUA), China Precision Steel Inc (Nasdaq:CPSL) and comScore Inc (Nasdaq:SCOR).

Here are the most actively traded companies among small caps:

Here are Tuesday’s biggest percentage gainers and losers, along with top volume leaders, among companies with a market cap between $50 million and $1 billion:

Biggest percentage gainers:

• HireRight, Inc. (Nasdaq:HIRE), up 45.1% to $15.19 after the Irvine, Calif.-based company, which provides on-demand employment background and drug screening services, said this morning that it will merge with US Investigations Services.
• Cardica, Inc. (Nasdaq:CRDC), up 35.1% to $9.81 despite no announcements.
• Republic First Bancorp, Inc. (Nasdaq:FRBK), up 33.9% to $5.85 after the Philadelphia-based bank holding company said it sold $10.8 million in convertible trust preferred securities to an investor group.

Biggest percentage losers:

• CompuCredit Corp. (Nasdaq:CCRT), down 28.3% to $6.30 after the Atlanta-based company said it “expects” federal regulators to charge the financial services firm with deceptive marketing practices and abusive debt collection practices.
• CMGI, Inc. (Nasdaq:CMGI), down 24.7% to $11.30 after the provider of supply chain management services said late Monday that it plunged to a third-quarter loss of $2.6 million, or $0.05 per share, versus a profit of $9.4 million, or $0.19 per share, a year earlier. Quarterly revenue stumbled 15% to $239.2 million from $282.1 million during the year-earlier period. The Waltham, Mass.-based company also lowered its fiscal year guidance.
• Intervest Bancshares Corp. (Nasdaq:IBCA), down 22.4% to $6.00 despite no announcements.

Small-cap stocks edged lower Tuesday, pulled down by hawkish comments from the Federal Reserve that spurred concerns among investors that the next rate move might be a hike to protect against rising inflation expectations. The Russell 2000 (NYSE:IWM) lost 2.63, or 0.36%, to 732.62, the lowest daily close since May 23.

Last night, Fed Chairman Ben Bernanke said that the central bank will resist rising long-term inflation, and he intimated that the economy wasn’t too fragile to move price concerns to the forefront of policy decisions. The fear of higher rates amid a sluggish economic environment ignited a global rout on stocks and bonds coming into the U.S. trading session, and stoked stagflation fears this morning. Several other Fed officials and policy makers from around the world joined in on the anti-inflation talk, magnifying the seemingly new hard stance on price issues.

It’s quite possible that the Fed and other central bank officials around the globe are simply jawboning against inflation to see what kind of response they can illicit from the market. After all, Fed is historically loathe to raise interest rates when the unemployment rate is still rising, and it’s hard to forget the surprise 0.5% jump in unemployment to 5.5% in last Friday’s jobs data — the largest one-month percentage rise in unemployment in 22 years.

With bonds and stocks sinking this morning in the wake of Bernanke’s inflation saber-rattling, investors looked for a safe-haven within equities, and found it among Dow stocks with solid earnings. The result was that the Dow soundly outperformed the Russell 2000, and the spread between the two index products narrowed. The Russell 2000 has been charging against the Dow for the last two weeks, so a pullback in the spread is not surprising. The last time the Russell made a similar dramatic run against the Dow was in mid-March, when the market was attempting to forge a bottom.

The dollar was the direct immediate beneficiary of Bernanke’s remarks, shooting 1% against the yen to three-month highs, and gaining a whopping 200 basis points, or 1.3%, against the euro. The strong dollar helped spark a reversal slide in crude oil prices, which were up some $2 a barrel in the early going today, but shed . . .

China Sky One Medical Inc (Nasdaq:CSY), Quest Resource Corp (Nasdaq:QRCP) and Fuel Systems Solutions Inc (Nasdaq:FSYS) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Multi-Fineline Electronix Inc (Nasdaq:MFLX), Met-Pro Corp (Nasdaq:MPR), Hanger Orthopedic Group Inc (Nasdaq:HGR), Pioneer Southwest Energy Partners LP (Nasdaq:PSE), Atlas Acquisition Holdings Corp (Nasdaq:AXG) and HireRight Inc (Nasdaq:HIRE).

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

After plunging out of the gate this morning on hawkish comments from the Fed, small-cap stocks remained flat, fluctuating shallowly in and out of the red as crude oil gave back ground mid-session.

At 1:45 p.m. ET, the Russell 2000 (NYSE:IWM) was down 1.03, or 0.14%, to 734.22, while the Dow gained 67.49, 0.55%, to 12,347.81.

After climbing sharply higher earlier in the session, crude oil gave back some ground after sources in the Saudi Oil Ministry told CNBC that Saudi Arabia's oil output increased by almost 500,000 barrels per day this quarter. A barrel of crude oil was off $1.51 to $132.74 midday.

However, as crude has remained at heightened levels, Federal Reserve Chairman Ben Bernanke, addressed the threat of inflation, stating that the risk of a substantial downturn in the economy has eased and that the torrid incline in oil prices “has added to the upside risks to inflation and inflation expectations.”

“The Fed's comments clearly are meant to address a shift in their focus that reflects the massive run-up in oil and food prices,” said Andy Busch, foreign exchange strategist for BMO Capital Markets.

Traders interpreted the Fed’s remarks to mean a possible increase in interest rates, boosting the dollar. The greenback jumped to a three-month high against the yen and gained against the euro to around $1.5457 midday.

“So far, the Fed looks like they have influenced U.S. short-term rate expectations the most and therefore have brought the U.S. dollar back,” Busch said. “[The] market expects the Fed to raise rates 125 basis points over two years versus 75 basis points for the ECB.”

Although the central bank’s focus has turned to resisting “an erosion of longer-term inflation expectations,” Doug Roberts, author of the book Follow the Fed to Investment Success and chief investment strategist for ChannelCapitalResearch.com, says he doesn’t think hawkish comments necessarily lead to hawkish . . .

HireRight Inc (Nasdaq:HIRE), Chemgenex Pharm Ltd (Nasdaq:CXSP) and Republic First Bancorp Inc (Nasdaq:FRBK) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Kandi Technologies Corp (Nasdaq:KNDI), China Sky One Medical Inc (Nasdaq:CSY), Timberland Bancorp Inc (Nasdaq:TSBK), Amtech Systems Inc (Nasdaq:ASYS), Dynacq Healthcare Inc (Nasdaq:DYII) and Pier 1 Imports Inc (Nasdaq:PIR).

Here are the biggest percentage gainers among small caps:

Small-cap stocks plunged on the opening, pulled down by hawkish inflation comments overnight from Federal Reserve Chairman Ben Bernanke, who said that the central bank will resist rising long-term inflation. His comments stoked stagflation fears and sent a shiver through already embattled financial shares, which fear higher interest rates. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was off 4.77, or 0.65%, at 730.48.

Bernanke also said that the risk of a substantial downturn in the economy has eased, which hints that the Fed has shifted into a “fight inflation” mode. If so, then the next move from the Fed could be a rate hike, which would raise the price of money, boost rates and seemingly support the U.S. dollar. Indeed, the greenback jumped overnight on the Bernanke remarks, climbing to three-month highs against the yen, and rising about 0.9% versus the euro. The dollar managed to remain higher despite a sloppy monthly trade report, which showed the U.S. deficit climb to $ 60.9 billion, above the forecast for a deficit of $59.9 billion.

Despite the jump in the U.S. dollar this morning, crude oil prices were higher, rising back above $137 overnight as supply jitters countered softer demand from lofty prices. The OPEC Secretary General said the energy market was “panicking” and that there was no shortage of oil now or in the future. That said, Russia’s Gazprom, which supplies a quarter of Europe’s natural gas, predicted crude oil prices could double within 18 months, reaching $250 dollars a barrel in 2009. Right into the U.S. stock market opening, crude oil prices did pull off the highs, and gold was down $2 dollars. As the day progresses, it will be interesting to see if commodity markets are shaken by the Fed’s heightened inflation focus and the upside pop in the dollar. From a long-term perspective, the dollar is still historically low, which bolsters demand for many commodity goods that are priced in dollar units.

Right now, investors are concerned that the United States could limp into a stagflation stage in which high prices combine with a stagnant economy to cripple corporate input costs and rob consumer purchasing power. These fears are also surfacing at a time when small caps are coming off six-month highs, perhaps providing a higher . . .

Third Wave Technologies Inc (Nasdaq:TWTI), Sequenom Inc (Nasdaq:SQNM) and HireRight Inc (Nasdaq:HIRE) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

CMGI Inc (Nasdaq:CMGI), Crocs Inc (Nasdaq:CROX) and TASER International Inc (Nasdaq:TASR) are also among the most actively traded companies.

Synchronoss Technologies Inc (Nasdaq:SNCR), UAL Corp (Nasdaq:UAUA) and National Coal Corp (Nasdaq:NCOC) were additionally included among the results.

Here are the most actively traded companies among small caps:

HireRight, Inc. (Nasdaq:HIRE), which provides on-demand employment background and drug screening services, said this morning that it will merge with US Investigations Services, pushing shares up a whopping 46% in pre-market trading.

Under the transaction, which is valued at approximately $195 million, USIS will pay HireRight stockholders $15.60 per share in cash, which represents a 54% premium over HireRight’s closing share price of $10.12 on Friday, June 6, and a 65% premium over the weighted average trading price of the company’s shares for the past three months. After the merger has been consummated HireRight will be combined with the USIS’s commercial services division.

Shares rocketed 46%, or $4.83, to $15.30 in pre-market trading. For detailed price information and recent news stories about HireRight, click HIRE.

HireRight, Inc. (Nasdaq: HIRE), a provider of on-demand employment screening solutions, could see its near-term growth rate slow due to a sagging U.S. labor market, according to an analyst with financial services firm Robert W. Baird & Co.

“We expect the company’s growth to slow in the near-term, given a slowing U.S. economy and labor market, which has begun to impact the growth rate of revenue from existing clients," wrote analyst Mark Marcon, according to an Associated Press report after the start of trading.

However, analyst Laura Lederman from William Blair & Co., which has performed investment banking services for HireRight within the last 12 months, initiated coverage of the Irvine, Calif.-based company with a “Market Perform” rating and projected aggressive growth. “HireRight’s scalable, multi-tenant infrastructure allows earnings to grow in excess of revenue,” Lederman said in a press release. “We believe that investors will likely reward this visibility and scalability.”

Still, at 3:42 p.m. ET, HireRight (Nasdaq: HIRE) was down $2.79, or 22%, to $10.02.

Trio-Tech International (AMEX: TRT), iRobot Corp. (Nasdaq: IRBT) and HireRight, Inc. (Nasdaq: HIRE) 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:

First Acceptance Corp. (NYSE: FAC), Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) and Vicon Industries, Inc. (AMEX: VII) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

Shares of HireRight, Inc. (Nasdaq: HIRE) are losing ground today after the provider of on-demand employment screening reported after Thursday’s close that net income for the second quarter fell from last year’s levels.

For the three months ended June 30, net income was $1.9 million, compared with $2.4 million for the second quarter last year. The decrease in net income was the result of a $1.3 million income tax expense incurred in the current period, compared with $0.1 million incurred during the second quarter of 2006.

Service revenue increased 19.7% to $16.8 million, compared with $14 million in the same quarter last year. The company attributed the uptick to an increase in new customers, the sale of additional products and services to existing customers, and the further rollout of screening services to other divisions by its enterprise customers.

No analyst estimates were available.

Shares of HireRight lost $1.22, or 8.71%, to $12.78 in morning trading Friday.

HireRight, Inc. (Nasdaq: HIRE), a maker of employment screening software, announced after the closing bell that its second-quarter revenue increased 19.7% to $16.8 million, from $14 million a year earlier. Net income for the three months ended July 30 was $1.9 million, or $0.11 per diluted share, down 21% from $2.4 million, or $0.16 per diluted share, during the same period of 2006.

A $1.3 million income tax expense, compared with $0.1 million a year earlier, caused the disparity in net income. Quarterly gross profit rose 27% to $9.4 million from $7.4 million in the prior-year quarter.

Shares of the small cap are flat in after-hours trading.