Tag - LUNA

There are some strange goings-on on the Top Gainers List today. There are some impressive moves, like the +150% that Luna Innovations (Nasdaq:LUNA) achieved on 10X average daily volume.

But when we put them to the test of my Top Gainer criteria, I can't see why Luna is moving higher. According to a press release on the corporate website, "…the company has been selected 13 U.S. small businesses to enter into negotiations for an award in the Photovoltaic (PV) Technology Pre-Incubator program of the U.S. Department of Energy's National Renewable Energy Laboratory (NREL)."

Read carefully. Luna has not been awarded anything. It's simply been invited to negotiate for an award. That doesn't sound like good reason for a 153% gain...

The Russell 2000 (NYSE: IWM) futures are a whisker below the closing level on Wednesday and the index will likely open in negative territory.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported. That’s an upward revision from the preliminary figure of 3.9% and represents the strongest quarterly pace since 2003.

However, consumer spending increased a less-than-expected 2.7%, a sign that American consumers are getting tired in the face of stagnating home prices and high energy costs. Consumption is about 70% of gross domestic product.

The price of oil has added about $2 to above $92 a barrel following news of a fire at a pipeline carrying crude oil from Canada to the U.S. Midwest.

Investors will be paying attention to a report from the U.S. Census Bureau on new home sales in October. The numbers will be released at 10 a.m. ET, with economists expecting to see a decline.

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

Biggest percentage gainers:

• Solarfun Power Holdings Co. Ltd. (SOLF), up 23% on news of a rise in third-quarter profit.
• Luna Innovations Inc. (LUNA), up 13% on news it has been awarded a grant from the National Heart, Lung, and Blood Institute.
• Sirtris Pharmaceuticals, Inc. (SIRT), up 9%.

Biggest percentage losers:

• First United Corp. (FUNC), down 49%.
• Geron Corp. (GERN) down 9%.
• Jos. A. Bank Clothiers, Inc. (JOSB) down 2%.

The Aristotle Corp. (Nasdaq: ARTL), Transcat, Inc. (Nasdaq: TRNS) and Hastings Entertainment, Inc. (Nasdaq: HAST) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

NUCRYST Pharmaceuticals Corp. (Nasdaq: NCST), Oak Hill Financial, Inc. (Nasdaq: OAKF) and hi/fn, inc. (Nasdaq: HIFN) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

LSI Industries Inc. (Nasdaq: LYTS), which provides visual image solutions, projects fourth-quarter earnings in the range of $0.27 per share and $0.29 per share, the Cincinnati, Ohio-based company said this morning. That’s above Wall Street’s projected income of $0.22 per share. The stock is up $1.23, or 8%, to $16.55.

Shares of Avalon Pharmaceuticals, Inc. (Nasdaq: AVRX) are higher following news after Tuesday’s close that the Germantown, Md.-based company announced positive interim results from its Phase I study of a drug that treats hematologic malignancies. The stock is up $0.59, or 12%, to $5.70.

The Russell 2000 small cap index looked up for the second day in a row as the major U.S. indices rallied on news that core producer prices stayed calm in May. The Russell 2000 moved up 4.58 points, or 0.55%, to finish at 837.12. The Dow Jones Industrial Average added 71.38 points, or 0.53%, to 13,553.73.

Core U.S. producers price increased 0.2% in May, the Labor Department said this morning. That’s in line with economists expectations.

The following are the most actively traded companies in pre-market trading among those with market capitalizations under $500 million:

The following were the most actively traded companies in Monday's trading among those with market capitalizations under $500 million:

The Russell 2000 closed just shy of a new record after briefly venturing into uncharted territory this afternoon.  In specific small cap action, shares of Antigenics Inc.’s (Nasdaq: AGEN) rose on upbeat results from clinical trials of its kidey cancer drug, while American Superconductor Corp. (Nasdaq: AMSC) lifted its stock price after releasing a new power grid technology.

The Russell 2000 gained 9.99 points, or 1.21%, to 833.65, just below its May 9 closing high of 834.77.  The Dow Jones Industrial Average lost 13.65 points, or 0.10%, to close at 13,542.88.

The following are the most actively traded companies in Monday's trading among those with market capitalizations under $500 million:

These are the biggest percentage gainers among companies with market capitalizations under $500 million:

The Russell 2000 small cap index has gained nearly 1%, outpacing the other major indices.  Specifically, shares of Luna Innovations Inc. (Nasdaq: LUNA) are gaining on news the company has received regulatory approval to market its medical device, while shares of Pioneer Companies, Inc. (Nasdaq: PONR) are climbing on news of a buyout.

At 11:24 a.m. ET the Russell 2000 had added 7.88 points, or 0.96%, to 831.54.  The Dow Jones Industrial Average was up 2.36 points, or 0.02%, to 13,558.89.