Tag - LAVA

Perceptron Inc. (Nasdaq:PRCP), Magma Design Automation Inc. (Nasdaq:LAVA) and Acorn International Inc. (Nasdaq:ATV) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

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

The Russell 2000 is sinking on the session, as a grisly personal income report, oil’s assent, and Dell’s disappointing earnings sucked the wind out of Thursday’s equity rally—though on light volume ahead of the holiday weekend.

At 12:26 p.m. ET, the Russell 2000 (NYSE:IWM) was down 9.29, or 1.24%, to 738.58, close to its lows on the session.

The session kicked off to a bad start after the government issued a report stating that personal incomes plunged by the largest amount in three years. Personal incomes slid 0.7%, below expectations for a drop of 0.1%.

Adding insult to injury, consumer spending was squeezed, as the impact of government stimulus checks evaporated and the inflation component of the report (the year-over-year PCE price index) surged to the highest in 17 years. Spending rose 0.2%, compared with a 0.4% decline in July and the 0.6%, uptick in June.

In other economic news, the Michigan sentiment survey clocked in at 63, slightly above the forecast of 62; while the Chicago Purchasing Manager’s Survey topped the forecast at 57.9, compared with the projection of 50. The market rallied off early lows after that stronger-than-expected number, however, the bounce was not sustainable.

Small-cap stocks edged lower on the opening, pulled down by a big rally in crude oil futures and a mixed bag on this morning’s batch of economic data. At 9:59 a.m. ET, the Russell 2000 (NYSE:IWM) was down 3.91, or 0.52%, at 743.88.

The Michigan sentiment survey came in at 63.0, which was just a tad above the forecast of 62. There was very little stock market response to the Michigan number. The Chicago Purchasing Manager’s Survey topped the forecast in a big way, coming in at 57.9, compared with the projection of 50.0. The stock market rallied off early lows after the stronger-than-expected number, but the bounce off those lows had very little staying power.

Earlier, the personal income report came in below expectations, with the headline figure down 0.7%, compared with expectations for a flat reading. Spending patterns also tailed off as the impact of government stimulus checks faded and the inflation component of the report (the year-over-year PCE price index) was at the highest point in 17 years.

Crude oil prices shot higher into the stock market opening, climbing some $3 a barrel back above $118 as the market braced for Gustav to slam into the Louisiana coast sometime within the next four days. The killer storm ripped through Caribbean, taking nearly 70 lives in the process, and has already prompted a shutdown of energy platforms in the Gulf ahead of the holiday weekend.

Speaking of the holiday, cash trading on stocks will hold normal hours today ahead of Monday’s holiday, but foreign exchange and interest rate futures will close early today at 1:00 p.m. ET, which could start to further taper off volume this afternoon.

The U.S. dollar was weak this morning, down about 0.8% against the yen and about 0.2% versus the euro, which will act as a positive for commodity markets and a negative for equities.

Tech stocks were struggling this morning, with the second-largest PC . . .

Shares of Magma Design Automation Inc. (Nasdaq:LAVA) are tumbling ahead of the opening bell after reporting late Thursday that its fiscal first-quarter top and bottom lines slid year-over-year as the provider of chip design software grappled with a more difficult-than-anticipated business environment.

Magma also lowered its full-year guidance as it intends to amend its business model.

Shares plummeted 16%, or $0.90, to $4.65 ahead of the bell. For detailed price information and news stories on Magma Design, click LAVA.  

CKX Inc. (Nasdaq:CKXE), Iconix Brand Group Inc. (Nasdaq:ICON) and China Finance Online Co Ltd. (Nasdaq:JRJC) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sigma Designs Inc. (Nasdaq:SIGM), Magma Design Automation Inc. (Nasdaq:LAVA), Charlotte Russe Holding Inc. (Nasdaq:CHIC), Greenfield Online Inc. (Nasdaq:SRVY), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) and Lululemon Athletica Inc. (Nasdaq:LULU).

Here are the most actively traded companies among small caps:

Anadigics Inc. (Nasdaq:ANAD), Advanced Battery Technologies Inc (Nasdaq:ABAT) and Knot Inc (Nasdaq:KNOT) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.       

Also included among the results: Progenics Pharmaceuticals Inc (Nasdaq:PGNX), Arena Pharmaceuticals Inc (Nasdaq:ARNA), Noble International (Nasdaq:NOBL), PowerSecure International Inc (Nasdaq:POWR), Magma Design Automation Inc (Nasdaq:LAVA) and Cytori Therapeutics Inc (Nasdaq:CYTX).    

Here are the most actively traded companies among small caps:     

Asta Funding, Inc. (Nasdaq:ASFI), INVESTools Inc. (Nasdaq:SWIM) and Magma Design Automation, Inc. (Nasdaq:LAVA) were among the new 52-week lows established during Friday's trading among companies with market capitalizations or values under $750 million.

Secure Computing Corp. (Nasdaq:SCUR), General Finance Corp. (AMEX:GFN) and Protection One, Inc. (Nasdaq:PONE) were also among the 52-week small-cap lows.

Here are Friday's 52-week small-cap lows:

Small-cap stocks edged lower Friday, unable to ride out a morning wave of bullish enthusiasm after the monthly employment report showed the U.S. labor market was struggling, but not nearly as bad as feared. In the initial glow of the jobs release, the Russell 2000 (NYSE:IWM) surged to the highest level since early January, but was unable to thunder home on the stretch Friday afternoon, dipping 4.01, or 0.55%, to 725.74.

Although the sloppy close in equities may have taken some of the excitement out of this week’s advance, it should still be noted that the Russell finished out Friday at the highest weekly level since early February. There are very few shorts holding index profits in this market, and if the Russell can sustain upward momentum, those shorts will be forced to buy their way out of losing trades in the weeks ahead.

Back to the actual employment report this morning, the headline figures — the unemployment rate and the payroll number — were both much better than forecast, with the unemployment rate coming in at 5%, compared with the average guess of 5.2%, while the payroll loss for April was reported at 20,000 jobs, compared with the median estimate of an 80,000-job decline.

“The unemployment rate dropped in April because of a temporary surge in household jobs,” Steven Wood, chief economist with Insight Economics, said in an email. “However, the unemployment rate will climb further over the next several quarters as the economy continues to slowly deteriorate.”

Wood clearly believes that the U.S. economy is not exactly free and clear of further downside risk and with consumers struggling against sinking home values, rising energy and food costs, caution seems quite reasonable looking forward. Looking ahead . . .

Small-cap stocks roared out of the gate in morning trading, but a widespread sell-off began around 10 a.m. ET and erased gains. A rallying attempt shortly before noon was met with resistance and small caps have continued to decline in Friday afternoon trading. At 1:34 p.m. ET, the Russell 2000 (NYSE:IWM) slipped 4.01, or 0.55%, at 725.74.

At 10:08 a.m. ET, the small-cap index peaked at 735.78, its highest point since early January. Bullish investors were encouraged by a better-than-expected monthly employment report, which showed a decline of 20,000 payroll jobs in April — much better than the median forecast for a loss of 80,000 jobs. In addition, the headline unemployment figure came in at 5%, which was down from 5.1% last month and well above the number cruncher’s pre-release figure of 5.2%.

Just ahead of the employment release, the Federal Reserve added liquidity into the system, which sparked a brief flurry of conspiracy theorists that perhaps the credit crunch was rearing its head again, or that the employment report would be a bearish surprise. Clearly, the latter wasn’t the case, and it’s most likely that the . . .

Small-cap stocks shot out of the gate this morning amid a wave of buying enthusiasm, with the Russell 2000 (NYSE:IWM) up 2.74, or 0.37%, at 732.48 at 9:57 a.m. ET. The early peak was at 734.84, which marks the highest point since early January. Bullish investor psychology was powered by a better-than-expected monthly employment report, which showed a decline of 20,000 payroll jobs in April — much better than the median forecast for a loss of 80,000 jobs. In addition, the headline unemployment figure came in at 5%, which was down from 5.1% last month and well above the number cruncher’s pre-release figure of 5.2%.

It should be noted that the labor market is still contracting, which is a troubling sign for the economy. Still, markets tend to trade on expectations, and when the news isn’t as bad as feared, it clears the way for buying interest to emerge. However, before March lows were carved out, the market had an unsettling way of trading higher on jobs day in recent months, only to resume the downward swing in the days following the initial reaction.

Just ahead of the employment release, the Federal Reserve added liquidity into the system, which sparked a brief flurry of conspiracy theorists that perhaps the credit crunch was rearing its head again, or that the employment report would be a bearish surprise. Clearly, the latter wasn’t the case, and it’s most likely that . . .

Moldflow Corp. (Nasdaq:MFLO), BluePhoenix Solutions, Ltd. (Nasdaq:BPHX) and Magma Design Automation, Inc. (Nasdaq:LAVA) are among the most actively traded companies in Friday's pre-market trading among those with market capitalizations under $750 million.

Monotype Imaging Holdings Inc. (Nasdaq:TYPE), Solarfun Power Holdings Co., Ltd. (Nasdaq:SOLF) and Hansen Medical, Inc. (Nasdaq:HNSN) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Friday's pre-market trading:

Shares of Magma Design Automation Inc. (Nasdaq:LAVA) are treading lower pre-bell after the provider of chip design software reported fourth-quarter revenues that fell short of the consensus view on Wall Street. Adding insult to injury, the San Jose, Calif.-based firm issued first-quarter guidance below analysts’ estimates.

Shares flopped 14%, or $1.38, to $8.19 in pre-market trading. For detailed price information and recent news stories about Magma Design Automation, click LAVA.

The Russell 2000 fell while the Dow disregarded news of slow U.S. economic grow for another record close.  Among small caps, a fall in net income dropped shares of Ixia (Nasdaq: XXIA), while shares of Insituform Technologies, Inc. (Nasdaq: INSU) declined on news of quarterly loss.

The Russell 2000 lost 4.10 points, or 0.49 percent, to 829.70.  The Dow Jones Industrial Average added 15.44 points, or 0.12 percent, to 13,120.94, its third straight record close.