Tag - HURC

China Sunergy Co Ltd. (Nasdaq:CSUN), National Coal Corp. (Nasdaq:NCOC) and DrdGold (Nasdaq:DROOY) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ceragon Networks Ltd. (Nasdaq:CRNT), Royale Energy Inc. (Nasdaq:ROYL), Hurco Cos Inc. (Nasdaq:HURC), Hoku Scientific Inc. (Nasdaq:HOKU), Almost Family Inc. (Nasdaq:AFAM) and TeleCommunication Systems Inc. (Nasdaq:TSYS).

Here are the most actively traded companies among small caps:

Small-cap stocks opened lower and remained under pressure all day Friday, unable to shake off concerns about surging energy prices. The Russell 2000 (NYSE:IWM) shed 8.91, or 1.22%, to 724.10. For the week, small caps tumbled 17.07, the second-largest one-week point decline since the market bottomed early in early March.

Equities investors truly became fixated this week on the crude oil market, and with good reason. Earlier this week, crude oil futures charged past $135 dollars a barrel, and pump prices in some U.S. metropolitan areas pushed beyond $4 dollars a gallon, a sobering psychological benchmark in front of the summer holiday and driving season. Crude oil gained about 1% in value Friday, which kept equity bulls in hibernation.

Not only does the relentless rise in energy prices blunt consumer spending power, but it also raises input costs for many businesses and tightens margins. The airline industry is the current poster child for that vicious cycle, and many airline stocks were hammered again this week. The AMEX Airline Index closed out the week at new lows, and is trading just above $18, compared with a peak in January 2007 above $66. A powerful glimpse of that slide can be seen in small-cap stock US Airways (NYSE:LCC), which tumbled 18% Friday and is now a $4.25 stock, down from $16 in February, and a peak of almost $63 just a couple of years ago.

This morning’s existing home sales report appeared to serve up some needed good news when the headline figure came in at 4.89 million units sold, which topped the median forecast for a rise of 4.85 million units. However, the rosy headline figure came with hidden thorns, as the inventory of homes for sale swelled to record levels. “The stark inventory situation implies that additional price declines cannot be ruled . . .

Small-cap stocks opened lower, pressured by a jump in crude oil prices overnight, which keeps concerns about consumer discretionary spending at the forefront. At 10:05 a.m. ET, the Russell 2000 (NYSE:IWM) was down 7.33, or 1%, at 725.68.

The headline figure for existing home sales came in above expectations at 4.89 million versus the projection of 4.85 million. Although that figure was slightly better than expected, stock index futures were little changed immediately after the release. The inventory of homes for sale was up 10.5% to a record high, which may have offset any upbeat reaction to the headline figure.

Crude oil prices bounced overnight, lifted by strikes in France that could block tanker traffic and by residual support from a surprising drop in crude oil stocks in this week’s inventory data. In addition, the dollar was soft against the euro heading into today’s U.S. open, which underpinned crude oil prices.

Stock markets around the world were in a selling mood overnight, which also weighed on U.S. equities on the opening. Although Japan was up 0.2% last night, most of the other major countries were down, with Hong Kong off 1.3%, China down 0.9%, Australia down 1.0%, Singapore down 1.2% and Bombay off 1.5%. The biggest overnight loss was seen in Karachi, which tumbled 4.7% in response to a rate hike by the State Bank of Pakistan.

Large caps in the news this morning included Haliburton Co. (NYSE:HAL), which announced a bid of $3.4 billion for U.K. firm Expro International. This marks two consecutive days of M&A deals in the energy sector, and provides some . . .

Hurco Companies, Inc. (Nasdaq:HURC)
Indianapolis, Ind.
http://www.hurco.com/

52-week low / high: $30.24/$60.44
Shares Outstanding: 6.42 million
Market Capitalization: $309 million

1968. Sen. Robert F. Kennedy was assassinated, 2001: A Space Odyssey premiered to the delight of sci-fi enthusiasts everywhere, and a little-known business that would eventually become Hurco Companies, Inc. (Nasdaq:HURC) was just beginning to take root.

Forty years later, Indianapolis, Ind.-based Hurco has maintained the same mission it had from its inception: to provide original, cutting-edge products to help its customers maximize productivity through reduced setup time and multi-tasking on the shop floor.

Hurco designs, manufactures and sells computerized machine tools, computer control systems and software products to global businesses in the metal working industry. Hurco also makes and distributes software options, control upgrades, hardware accessories, and replacement parts for its machine lines, as well as provides operator training and support services.

In layman’s terms, Hurco supplies businesses with “user-friendly” machinery and the software that powers them. It doesn’t take long to realize that speaking in “layman” is Hurco’s stock and trade. The company realizes that its customers need simplicity to productively manage their businesses, so allowing clients to process high-level, user-friendly programs in the simplest way possible gives them the benefits of rapid prototyping, integrated networking and quick turn-around, among other things. To make its products even more easy-to-use and uncomplicated, Hurco’s software also includes 3-D, conversational tool and laser probing, and translation and editing capabilities for clients to utilize.

The company’s wares are used by precision tool, die, and mold manufacturers; independent metal parts manufacturers; and specialized production application or prototype departments within manufacturing companies. It caters to the aerospace, defense, medical equipment, energy, automotive/transportation, electronics, and computer equipment industries.

Hurco’s endeavors are no trivial pursuit: for the first quarter ended Jan. 31, 2008, net income was $7.8 million, or $1.21 a share, up 45% from the $5.4 million, or $0.84 a share, reported in the first quarter of 2007. Sales rose 30% to $60.9 million from the $46.9 million reported last year. The weaker dollar boded well in Hurco’s favor when translating foreign sales to U.S. dollars: the impact was about 10%, or $4.6 million, in the year-to-year comparison.

The company’s growth was driven by demand in existing European markets, expansion into Eastern European markets, and a strong push into India, which Hurco began targeting last year.

New order bookings in the first quarter of fiscal 2008 were up 30% to $61.1 million, compared with $14 million in the prior-year period. Europe and the Asia Pacific accounted for $14,180,000, or 44%, and $603,000, or 27%, respectively. North American orders fell by $750,000, or 6%, but that didn’t exactly faze CEO Michael Doar.

“Strong first-quarter results, despite market softness in the United States, affirm the importance of our global strategy,” Doar said in a statement when earnings were released on Feb. 28. “Europe continues to exceed expectations. Increased sales in the Asia Pacific region are a direct result of the resources we devoted to India last year to expand our presence in this key market. We will continue to monitor the U.S. market closely.''

If the past has been any indicator, the company’s future is a wide, open road. Increased reliance on markets outside of the United States, especially emerging markets such as India, coupled with a weak dollar, are playing into Hurco’s pockets nicely. In the decades since its inception, popular trends and technologies have come and gone, but Hurco has remained strong, proving that consistency is the true test of profitable endurance.

Note: Hurco Companies, Inc. (Nasdaq:HURC) is on the “Watch List” of Rising Star Stocks, a subscription investment newsletter from Business Financial Publishing, which also publishes SmallCapInvestor.com. As a Watch List company, Hurco displays many characteristics found in successful stock winners, and is being closely monitored for possible inclusion in the Rising Star Stocks portfolio at a later date.

The Russell 2000 (NYSE: IWM) lost ground and fell more than the other major U.S. indices as economic concerns brought out the bears. The small-cap index declined 10.72 points, or 1.50%, to 705.72. The Dow Jones Industrial Average (INDU) shed 112.10 points, or 0.88%, to 12,582.18.

On a year-to-date basis, the Russell 2000 has retreated 7.87%, while the Dow is down 5.15% and the S&P 500 has let go 6.86%.

Fourth-quarter economic growth was as slow as initially projected, an inflation gauge moved up, and some small banks might not survive the subprime meltdown, according to today’s economic news.

Small-cap stocks fell out of the gate on news that the U.S. Commerce Department reaffirmed its initial estimate for fourth-quarter economic growth of 0.6% at an annual rate, disappointing economists expecting an upward revision to 0.8%.

The same report showed that an index measuring the prices paid by U.S. residents increased 3.9%, above the initial estimate of 3.8%.

Separately, the U.S. Labor Department said that jobless claims for the week ended Feb. 23 were 373,000, a larger-than-expected increase from the preceding week’s upwardly revised level of 354,000.

Hurco Companies, Inc. (Nasdaq: HURC) shares are soaring after the industrial technology company posted first-quarter net income of $7.8 million, or $1.21 per share, up 44% from $5.4 million, or $0.84 per share, a year earlier.

“Strong first-quarter results, despite market softness in the U.S., affirm the importance of our global strategy,” CEO Michael Doar said in a statement. “Europe continues to exceed expectations.  Increased sales in the Asia Pacific region are a direct result of the resources we devoted to India last year to expand our presence in this key market.  We will continue to monitor the U.S. market closely.”

Quarterly sales climbed 30% to $60.9 million, from $46.9 million a year earlier. Analysts were only expecting $51 million in quarterly sales.

In afternoon trading, HURC shares are up 30.95%, or $11.19, to $47.34. Over the last 52 weeks, shares have ranged from $30.24 to $60.44.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices have added to their earlier losses as economic worries make Wall Street jittery.

At 11:48 a.m. ET, the small-cap index was down 12.59 points, or 1.76%, to 703.85. The Dow Jones Industrial Average (INDU) had retreated 142.55 points, or 1.12%, to 12,551.73.

The U.S. economy is barely growing while inflation is edging higher, according to government reports before the start of trading.

The U.S. Commerce Department reaffirmed its initial estimate for fourth-quarter economic growth of 0.6% at an annual rate, disappointing economists expecting an upward revision to 0.8%.

Meanwhile, an index measuring the prices paid by U.S. residents increased 3.9%, above the initial estimate of 3.8%.

Separately, the U.S. Labor Department said that jobless claims for the week ended Feb. 23 were 373,000, a larger-than-expected increase from the preceding week’s upwardly revised level of 354,000.