Tag - MED

Medifast Inc (Nasdaq:MED), China Marine Food Group Ltd (Nasdaq:CMFO), W Holding Company (Nasdaq:WHI) and Nobiity Homes Inc (Nasdaq:NOBH) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

The Russell 2000 (NYSE:IWM) closed down nearly 3% on Tuesday and is now down 31% for the year. For the first time in many months, the Dow has actually pulled virtually even with the Russell for 2008, while the S&P 500 is off 35%. Today’s small-cap gainers are Riverview Bancorp (Nasdaq:RVSB), Jakks Pacific (Nasdaq:JAKK) and optionsXpress (Nasdaq:OXPS).

Other Market Watch highlights today included:

• The worst performing broad market sectors were metals and mining stocks, steel, gold, integrated oil and gas firms and coal shares.
• If Monday’s big rally was primarily about energy, then the main theme in motion today was about the economy and whether or not global slowing would continue to get in the way of the stock market.
• From a global standpoint, a recession in the United States and a sharp downturn around the world will hurt demand for commodity goods, a theme that played out today.
• Highlighting the bruised demand is copper, which today crumbled to the lowest point since Dec. 2005 and is now 50% from the spring highs.
• Crude oil futures plunged some 4% and quickly took some of the shine off Monday’s energy-led rally.
• This tug-of-war between valuation and the economy is always in play for the stock market, but Tuesday was center stage as investors decided whether stocks are cheap enough to warrant the risk.
• While earnings were a big part of today’s action, it seemed like the market overlooked many of the results to focus in on worries in the . . .

Parlux Fragrances Inc. (NYSE:PARL), Super Micro Computer Inc. (NYSE:SMCI) and Thermadyne Holdings Corp. (Nasdaq:THMD) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Medifast Inc. (AMEX:MED), NPS Pharmaceuticals Inc. (Nasdaq:NPSP), ENGlobal Corp. (Nasdaq:ENG), Atlas Acquisition Holdings Corp. (Nasdaq:AXG), Starrett LS Co. (Nasdaq:SCX) and Highlands Acquisition Corp. (Nasdaq:HIA).

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

Friedman Industries Inc. (Nasdaq:FRD) Nabi Biopharmaceuticals (Nasdaq:NABI) and Micromet Inc. (Nasdaq:MITI) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.    

Also included among the results: Associated Estates Realty Corp. (Nasdaq:AEC) Medifast Inc. (Nasdaq:MED) Schiff Nutrition International Inc. (Nasdaq:WNI) Kensey Nash Corp. (Nasdaq:KNSY) USA Truck Inc (Nasdaq:USAK) and CombiMatrix Corp. (Nasdaq:CBMX).    

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

Noble International (Nasdaq:NOBL), Susser Holdings Corp. (Nasdaq:SUSS) and TXCO Resources Inc. (Nasdaq:TXCO) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.         

Also included among the results: McCormick & Schmick's Seafood Restaurants Inc. (Nasdaq:MSSR), Medifast Inc. (Nasdaq:MED), ENGlobal Corp. (Nasdaq:ENG), Republic Airways Holdings Inc. (Nasdaq:RJET), Mediacom Communications Corp. (Nasdaq:MCCC) and 1-800-Flowers.com Inc. (Nasdaq:FLWS). 

Here are the biggest percentage gainers among small caps:     

BIDZ.com, Inc. (Nasdaq: BIDZ) shares are plunging after CEO David Zinberg denied a report released on Monday that said the online auctioneer of jewelry holds excessive inventory, engages in shill bidding and said the firm’s largest supplier is a convicted felon. Citron Research, the source of the report, holds a short position on the stock. Zinberg said the company will take legal action against Citron during the next few days.

During a Tuesday evening conference call, Zinberg called Citron’s report “untruthful and negative” and said BIDZ has no cash flow issues. The firm’s high inventory is a part of a conscious strategy, he said, and the BIDZ has historically held low inventories. On the company’s “F” rating from the Better Business Bureau, the chief executive said there are 241 complaints on file compared with eight million items sold.

Zinberg also denied any shill bidding, saying it is against company policy. He could not explain why some bidders are paying above-market prices for televisions, but said BIDZ receives no revenue from electronic sales. He called accusations that he is paid 30,000 shares each month “absolutely false.”

In an attempt to calm investors, BIDZ said before Tuesday’s opening that the company had record Thanksgiving weekend sales.

“We are pleased to see such a dramatic improvement to our holiday sales,” David Zinberg said in a statement. “It is a testament to the attractiveness of our unique auction format and our continued focus on delighting the customer. We believe that consumers are discovering that there is no other place to go to for quality jewelry at our prices.” 

Citron said it will release a second part of its BIDZ report that might cause the stock to sink further.

“Stay tuned for part two in order to get more clarity of the business model of BIDZ,” Citron Editor Andrew Left said in the report. “If the previous quarter is indicative of future performance, Citron believes that Bidz.com will end up in the same bucket as Medifast (NYSE: MED), Housevalues (Nasdaq: SOLD), Escala (OTC: ESCL), and Syntax Brillian (Nasdaq: BRLC).”

Investors were not appeased by the conference call and BIDZ shares are down 23.97%, or $2.85, at $9.04 in morning trading. Over the last 52 weeks, shares have ranged from $4.90 to $22.50.

Oxford Industries, Inc. (NYSE: OXM), Edge Petroleum Corp. (Nasdaq: EPEX) and Children's Place Retail Stores, Inc. (Nasdaq: PLCE) were among the new 52-week lows established Tuesday among companies with market capitalizations or values under $750 million.

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

SupportSoft, Inc. (Nasdaq: SPRT), Monarch Financial Holdings, Inc. (Nasdaq: MNRK) and Security Bank Corp. (Nasdaq: SBKC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

Record-high gas prices this summer will likely dampen overall retail sales but may fuel increased opportunities for on-line retailers as cost-conscious consumers opt to shop on-line instead of in stores. Online sales experienced strong growth last year, rising 25% to $219.9 billion. Excluding travel, e-commerce sales rose 29% in 2006 to $146.5 billion. For the current year, online sales are forecast to grow 18% to $259.1 billion and on-line sales excluding travel are projected to rise 19% to $174.5 billion. According to a Forrester Research survey for the National Retail Federation, 10% of all clothing and accessory sales will occur on line in 2007, up from 8% last year. Overall online retail sales excluding travel are expected to account for 7% of the total retail market in 2007, up from 6% last year.

The main challenges to even faster online growth are delays between ordering and receiving products, and consumers’ desire to physically examine certain items (such as apparel) before purchasing. Online order security and data protection have also emerged as a major industry issue.  Gartner Group estimates that as much as $2 billion in additional online sales were lost in 2006 because of consumers’ security concerns. Online retailers must also be better prepared for heavy holiday e-commerce traffic. Last year several major retailers experienced website crashes and slowdowns during the holiday season.  Forrester’s report also noted that 83% of online retailers who responded to its survey were profitable last year, and 78% reported increased profits.

Data from comScore Networks indicates consumers spent more online than ever before during the 2006 holiday season. E-commerce revenues exceeded $100 billion for the first time ever and spending was 22% higher than last year. comScore noted the largest surge in online buying came during the three weeks leading up to Christmas; e-commerce sales rose 45% from the previous year. The strong e-commerce results stand in marked contrast to overall sales for major U.S. retailers, which showed weak same-store sales comparisons and single-digit sales growth for the 2006 holiday season.

Shares of Bioenvision, Inc. (Nasdaq: BIVN), the cancer drug developer, are trading heavily following Genzyme Corp.’s (Nasdaq: GENZ) Tuesday morning announcement it has agreed to buy Bioenvision for $5.60 per share, or approximately $345 million in cash. The offer is 6.7% above Friday’s closing price. By purchasing Bioenvision, Genzyme will gain exclusive rights to the leukemia drug clofarabine. Genzyme said in a statement it is looking to broaden the use of clofarabine, which is used to treat children with acute lymphoblastic leukemia who have had relapses or failed other treatment.

In heavy trading, Jones Soda Co. (Nasdaq: JSDA) shares are losing value after a negative story on the beverage company ran in Barron’s over the weekend. Jones CEO Peter Van Stolk, other executives and important stakeholders such as the Bjurman Barry Small Cap Growth Fund are unloading shares, the Barron’s article said. Shares in the Seattle-based company have been up over 250% since August on speculation of takeover bids, strong revenue and covering by short sellers, who comprise 20% of the company’s investors. The Barron’s story stated the company is valued 65% below its current trading price.

Bradley Pharmaceuticals, Inc. (NYSE: BDY) shares are up sharply in heavy Tuesday morning trading following an announcment of Bradley CEO Daniel Glassman’s takeover bid to take the company private at $21.50 a share. Glassman’s all-cash offer, which he submitted to Bradley’s board of directors this morning, is 17% higher than Friday’s closing price. Bradley Pharmaceuticals acquires, develops and markets prescription and over-the-counter dermatology, podiatry, gastroenterology and women’s health products. Glassman’s family already owns 12% of the company’s stock. Raymond Jones analyst Michael Krensavage said in a letter to shareholders Glassman’s offer is not enough because Bradley shares have a minimum intrinsic value of $27 per share.

U.S. stocks are rising after a three-day break following news of the latest corporate deal-making.

At 9:59 a.m. ET the Russell 2000 had gained 6.69 points, or 0.81 percent, to 836.62.  Dow Jones Industrial Average was up 47.30 points, or 0.35 percent, to 13,554.58.

The Royal Bank of Scotland has launched a $95.5 billion for Amsterdam-based bank ABN Amro.  That beats a previous rival offer from England’s Barclays.

Elsewhere, German automaker BMW is interested in buying Ford Motor Co.’s Swedish unit Volvo, according to news reports this morning.

Canadian aluminum manufacturer Alcan Inc. (NYSE: AL), which rejected a bid from Pittsburgh, Pa.-based Alcoa Inc. (NYSE: AA), may receive offers from Norway’s Norsk Hydro ASA (NYSE: NHY) and England mining company Rio Tinto plc (NYSE: RTP), according to news reports over the weekend.

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

Shares of Bellevue, Wash.-based Bsquare Corp. (Nasdaq: BSOR) tumbled $0.31, or 5.2%, to $5.69 in after-hours today despite improved first-quarter financial results after hitting a new 52-week-high of $6.00 earlier in the day. The software solutions provider reported net income of $638,000, or $0.06 per diluted share, on revenue of $15.1 million compared with a net loss of $849,000,or $0.09 per diluted share, on revenue of $11.6 million.

Syntax-Brillian Corp.’s (Nasdaq: BRLC) stock plunged by $1.29, or 15.3%, to $7.12 on the news that it plans to offer approximately $150 million of its common stock in an
underwritten public offering. Certain stockholders also plan to offer approximately $22 million worth of shares, the company said. The Tempe, Ariz.-based company said it will use the proceeds for general corporate purposes, including paying down a portion of outstanding debt. The company plans to complete the public offering before June 30, when its fiscal year ends.