Tag - NCTY

Energy Conversion Devices Inc. (Nasdaq:ENER), The9 Ltd. (Nasdaq:NCTY) and First Merchants Corp. (Nasdaq:FRME) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

The9 Ltd. (Nasdaq:NCTY), Energy Conversion Devices Inc. (Nasdaq:ENER) and Seahawk Drilling Inc. (Nasdaq:HAWK) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Immunomedics Inc. (Nasdaq:IMMU), Universal Travel Group (Nasdaq:UTA) and Saga Communications Inc. (Nasdaq:SGA) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Modine Manufacturing Co. (Nasdaq:MOD), Flexsteel Industries Inc. (Nasdaq:FLXS), The9 Ltd. (Nasdaq:NCTY), Nanosphere Inc. (Nasdaq:NSPH), Center Bancorp Inc. (Nasdaq:CNBC) and COMSYS IT Partners Inc. (Nasdaq:CITP).

The9 Ltd. (Nasdaq:NCTY) is the sole 52-week low on Tuesday's session.

DryShips Inc (Nasdaq:DRYS), Zhongpin Inc (Nasdaq:HOGS) and AngioDynamics Inc (Nasdaq:ANGO) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ICU Medical Inc. (Nasdaq:ICUI), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Central European Distribution Corp. (Nasdaq:CEDC), Geron Corp. (Nasdaq:GERN), The9 Ltd. (Nasdaq:NCTY) and Apollo Investment Corp. (Nasdaq:AINV).

DryShips Inc. (Nasdaq:DRYS), Geron Corp. (Nasdaq:GERN) and The9 Ltd. (Nasdaq:NCTY) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: A Power Energy Generation Systems Ltd. (Nasdaq:APWR), Focus Media Holding Ltd. (Nasdaq:FMCN), Titan Machinery Inc. (Nasdaq:TITN), UAL Corp. (Nasdaq:UAUA), Meridian Bioscience Inc. (Nasdaq:VIVO) and AsiaInfo Holdings Inc. (Nasdaq:ASIA).

DryShips Inc. (Nasdaq:DRYS), UAL Corp. (Nasdaq:UAUA) and Geron Corp. (Nasdaq:GERN) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Smart Balance Inc. (Nasdaq:SMBL), Cabot Microelectronics Corp. (Nasdaq:CCMP), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), A Power Energy Generation Systems Ltd. (Nasdaq:APWR), Almost Family Inc. (Nasdaq:AFAM) and The9 Ltd. (Nasdaq:NCTY).

Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN), Focus Media Holding Ltd. (Nasdaq:FMCN) and Rigel Pharmaceuticals Inc. (Nasdaq:RIGL) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

LECG Corporation (Nasdaq:XPRT), Riverbed Technology Inc. (Nasdaq:RVBD) and Elbit Imaging Ltd. (Nasdaq:EMITF) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: IRIS International Inc. (Nasdaq:IRIS), The9 Ltd. (Nasdaq:NCTY), Stratus Properties Inc. (Nasdaq:STRS), Capital Bank Corp.  (Nasdaq:CBKN), Novatel Wireless Inc. (Nasdaq:NVTL) and Rockwood Holdings Inc. (Nasdaq:ROC).

Doral Financial Corp. (Nasdaq:DRL), Gymboree Corp. (Nasdaq:GYMB) and The9 Ltd. (Nasdaq:NCTY) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ATA Inc. (Nasdaq:ATAI), RC2 Corp. (Nasdaq:RCRC), Alaska Air Group Inc. (Nasdaq:ALK), Hibbett Sports Inc. (Nasdaq:HIBB), Dress Barn Inc. (Nasdaq:DBRN) and Janus Capital Group Inc. (Nasdaq:JNS).

TechTeam Global Inc. (Nasdaq:TEAM), Lacrosse Footwear Inc. (Nasdaq:BOOT) and Chiquita Brands International Inc. (Nasdaq:CQB) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dynamics Research Corp. (Nasdaq:DRCO), MSB Financial Corp. (Nasdaq:MSBF), Isramco Inc. (Nasdaq:ISRL), Santa Monica Media Units (Nasdaq:MEJ.U), The9 Ltd. (Nasdaq:NCTY) and Zones Inc. (Nasdaq:ZONS).

The9 Limited (Nasdaq:NCTY) is off 14% after Roth Capital initiated coverage of the stock on Wednesday with a “hold” rating. The research firm set a price target for the China-based online game operator at $27. During the past year, the stock has ranged from $15.05 to $51.95. The9 is down 53% from a year ago.

In today’s trading, shares are at $24.10 at 12:16 p.m. ET, down $4.16 from Wednesday’s close. Trading volume is more than 100,000 shares above the average number.

Small-cap stocks briefly opened higher after the opening, but have steadily slumped in midday and afternoon trading. Bearish sentiments were fueled by the Commerce Department’s report that factory orders showed the weakest performance in three months during May and the continuing ascent of crude oil prices. The National Employment report also added to gloomy news, with payrolls down by 79,000. At 2:27 p.m. ET, the Russell 2000 (NYSE:IWM) was down 12.55, or 1.81%, to 679.04.

During May, factory orders rose by 0.6%, which met Wall Street’s expectation but gave nervous investors no reasons to buy. The Commerce Department’s report showed waning demand for steel, heavy machinery and autos. Soaring fuel prices, weak economic growth and the credit crisis continue to keep investors jittery as long-term prospects remain uncertain.

Crude oil prices gushed higher in afternoon trading to $142.64 a barrel in recent trading. The U.S. dollar is down against the euro and flat against the yen.

The ADP National Employment Report showed a decline of 79,000 in payrolls, which marked the largest decline since November 2002. In addition, ADP revised last month’s gain downward to 25,000 from 40,000. When the ADP report was released about 8:15 a.m. ET, the news sparked a bounce in Treasury futures, trimmed overnight gains in the dollar against the yen and sparked a pullback in overnight gains in stock index futures. The weak ADP figures were troubling ahead of the big monthly employment report slated for Thursday morning.

Analysts at Goldman Sachs cautioned that the correlation between the ADP report and the actual Labor Department monthly employment release has not been that reliable of late. Goldman said that from January 2000 through October 2007, the ADP served up a much tighter projection of the jobs report, but since then the standard . . .

Schawk Inc (Nasdaq:SGK), United Security Bancshares (AL) (Nasdaq:USBI) and Camco Financial Corp (Nasdaq:CAFI) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: SeraCare Life Sciences Inc (Nasdaq:SRLS), The9 Ltd (Nasdaq:NCTY), Community Bankshares Indiana Inc (Nasdaq:CBIN), Fronteer Development Group Inc (Nasdaq:FRG), Somanetics Corp (Nasdaq:SMTS) and Carmike Cinemas Inc (Nasdaq:CKEC).

Here are the biggest percentage gainers among small caps:

It could be said that video games are to today's generation what board games were to past generations. But games have come a long way since cardboard and dice. Unlike the simpler forms of past entertainment, modern video games have transcended weekend family fun to become a part of everyday life for many young people. The meteoric rise of video gaming is not exclusively an American phenomenon; there are legions of followers the world over.

In China, ever-growing PC and Internet usage along with blistering-fast broadband networks have spawned large online entertainment communities filled with tech-savvy gamers. Today, Chinese youth spend hours at home and in Internet cafés fixated on massive multi-player online role-playing games (MMORPGs, for short), where huge numbers of players create their own unique characters and engage in complex adventure and fantasy games.

Chinese online game developer and operator The9 Limited (Nasdaq:NCTY) has used its gaming-design smarts and huge following to become a major force in the multiplayer online gaming business. The9's primary business is subscription-based MMORPGs (The9 has licenses to own and operate seven MMORPGs in China, which may be accessed from any location with Internet access). The company’s MMORPGs include the immensely successful World of Warcraft, an engaging online full-view 3-D game with over 1 million users. The9 also offers other products and services such as game operation support, short message service, Web solutions and advertising services, and sales of Pass9, the company’s integrated membership management and payment system.

As reported May 19 the gaming company's first-quarter 2008 profit surged 36% on higher subscriptions, reaching $12.8 million, or $0.46 per share, while revenue shot up to $65.9 million, a 64% increase over the year-ago quarter. Analysts expected . . .

Shares of The9 Limited (Nasdaq:NCTY), an online game operator in China, are sagging following news before the start of trading today that it will freeze the accounts of players who steal and sell virtual coins used to play World of Warcraft. The Shanghai-based company gets most of its revenue from operating the popular role-playing game.

At 3:24 p.m. ET, the stock was down $1.53, or 7%, to $19.56.

The Russell 2000 (NYSE:IWM) futures are higher and the small-cap index will likely open with a rise despite news of a steep jobs decline.

Payrolls decreased a more-than-expected 80,000 in March, the U.S. Labor Department reported before the opening. The unemployment rate jumped to 5.1% from 4.8% in February. The data confirm fears of a slowing economy.

Today is all about the monthly Employment Report release. Interestingly, the market has had several bullish short-term employment days in recent months, but those moves lacked staying power in the overall bear market run.

Small-cap stocks on Thursday basically put in a repeat performance of the previous session, but the Russell 2000 did manage to tack on a mild gain of 1.31, or 0.18%, closing at 713.57. Key resistance Friday comes in at 724, then at 731, while support is down at 705, 700 and 685.

The9 Ltd. (Nasdaq: NCTY) shares rose in Friday trading after the China-based online game operator reported fourth-quarter earnings of $11.8 million, or $0.40 per share, compared with Wall Street analysts’ expectation of earning $0.25 per share.

Quarterly revenue increased to $61.9 million, versus analysts’ projection of $51.5 million. The firm said gamers played more of “World or Warcraft” during the quarter because of the launch of an expansion pack.

The firm’s quarterly operating expenses rose to $16.8 million due partly to a $2.6 million impairment charge, from $2.6 million during the year-ago period. The9’s expenses rose due to product development, sales, marketing and administrative costs.

The9 also reported operating expenses grew to RMB 122.6 million ($16.8 million) from RMB 54.7 million, due partly to an RMB 18.7 million ($2.6 million) impairment charge. The company's product development, sales and marketing, and general and administrative expenses also rose.

In Friday trading, NCTY shares rose 9.59%, or $1.73, at $19.71. Over the last 52 weeks, shares have ranged from $15.05 to $52.44.

The Russell 2000 (NYSE: IWM) futures are a little higher and the small-cap index will likely open with a small rise.

There is no major economic news scheduled for today, but the Dallas Federal Reserve President’s speech at 1:30 p.m. ET is likely to make headlines.

Among small-cap companies, Ballard Power Systems Inc. (Nasdaq: BLDP), which makes fuel cells, said that it expects to ship twice as many units in 2008, bringing in total revenues of between $65 million and $75 million.

Small-cap stocks staged a dramatic bearish reversal Thursday, as the Russell 2000 rejected a promising morning rise to shed 13.74, or 1.94% to 696.28 by the close. The market continues to reflect indecision within the recent range – unwilling to sustain a dynamic move in either direction.

The market will be able to navigate through today's session unencumbered by outside economic news. It will be interesting to see if the Russell starts to falter below the 700 swing line after four sessions of see-saw action along that point so far this week. Look for support Friday at 694, 688 and 680; resistance comes in at 703.50, 712 and 717.

 

The Russell 2000 (NYSE: IWM) fell as investors were not impressed with a stimulus package designed to prevent a recession. The small-cap index tumbled 7.39 points, or 1.09%, to 673.18, its second consecutive decline. The Dow Jones Industrial Average (INDU) lost 59.91 points, or 0.49%, to 12,099.30.

On a year-to-date basis, the Russell 2000 is down 12.12%, while the Dow has declined 8.79% and the S&P 500 is missing 9.75%.

The U.S. economy is in a recession and policymakers will not be able to do much about it. It appears that was the dominating sentiment on Wall Street as the major U.S. indices posted a second day of losses despite news of a stimulus package designed to invigorate the economy.

But stocks small and large actually began trading in the green following news that General Electric Co. (NYSE: GE) reported a rise in fourth-quarter profit, matching analysts’ expectations.

Also contributing good news was Armonk, N.Y.-based International Business Machines Corp. (NYSE: IBM), which reported fourth-quarter earnings and issued a 2008 guidance above projections.

However, the bullish sentiment did not last. Stocks lost steam ahead of President Bush’s speech to discuss an economic stimulus package and stayed below the flat line after details were made public.

“There is a risk of a downturn,” President Bush said today. “I have concluded that additional action is needed.”

The Russell 2000 (NYSE: IWM) and the other major U.S. indices lost ground following news of Bush’s plan to invigorate the economy. At 1:33 p.m. ET, the small-cap index was down 4.92 points, or 0.72%, to 675.65. The Dow Jones Industrial Average (INDU) had declined 47.63 points, or 0.39%, to 12,111.58.

“To keep our economy growing and creating jobs, Congress and the administration need to work to enact an economic growth package as soon as possible,” President Bush said during a press conference this afternoon.

Calls for a policy response to help the U.S. economy avoid recession have been mounting recently as politicians on both sides of the aisle have been scrambling to develop a stimulus package.

Bush continued that the growth package must about 1% of gross domestic product and has to focus on “broad-based tax relief.”

The White House wants to give one-time income tax rebates to taxpayers and eliminate the 10% income tax bracket for one year. Democrats generally agree, but want the aid to be more targeted toward the poor and unemployed.

The Russell 2000 (NYSE: IWM) fell for the third consecutive time today following news of a decline in industrial production and renewed fears of a credit squeeze. The Russell 2000 lost 2.10 points, or 0.27%, to 769.50. The Dow Jones Industrial Average (INDU) added 66.74 points, or 0.51%, to 13,176.79.

On a year-to-date basis, the Russell 2000 has retreated 2.28%, while the Dow has risen 5.63% and the S&P 500 has added 2.97%.

Industrial production unexpectedly fell 0.5% in October, the U.S. Federal Reserve reported before the opening. That’s the biggest decline since January, defying economists’ projections of a rise of 0.1%. Industrial production added 0.2% in September.

The decline was due primarily to a 1.6% drop in utilities, as well as smaller declines in mines, construction and consumer goods. Compared with October 2006, industrial production has increased 1.8%.

Capacity utilization for the total industry declined to 81.7% from 82.2% in September.

The data tell us that the U.S. economy is probably headed for a slowdown, as industrial production is about 20% of gross domestic product. On the plus side, factories have room to ramp up production without triggering inflation.

The Russell 2000 (NYSE: IWM) is in the red as positive news from the tech sector lifts the Dow Jones Industrial Average (INDU) but fails to impress small-cap investors. At 1:52 p.m. ET, the small-cap index had shed 2.42 points, or 0.31%, to 769.18. The Dow Jones was up 63.89 points, or 0.49%, to 13,173.94.

The mood in pre-market trading was bullish following news that analysts have raised their recommendations for Hewlett-Packard Co. (Nasdaq: HPQ), the world’s largest maker of personal computers, and energy giant Chevron Corp. (NYSE: CVX).

Also contributing good news was tech sector heavyweight Cisco Systems Inc. (Nasdaq: CSCO), a maker of networking equipment, which announced that it has authorized additional stock repurchases valued at as much as $10 billion, raising the total amount to $62 billion.

Stocks started in positive territory but small caps tumbled down soon afterward, while the Dow held on for longer before trimming some of its gains and eventually also slipping into the red.

The bears’ return was facilitated by news that U.S. industrial production surprisingly fell 0.5% in October, the most since January, according to data released by the U.S. Federal Reserve before the opening. Industrial production added 0.2% in September.

The data confirm economists’ projections that U.S. economic growth is shifting into lower gear. Industrial production is about 20% of gross domestic product.

But the bulls managed to regain their footing and the major indices, with the exception of the Russell 2000, started climbing and moved into the green at about 11 a.m. ET.

The Russell 2000 (NYSE: IWM) is deep in negative territory while the Dow Jones Industrial Average (INDU) is marginally lower following news of a surprise drop in industrial production.

At 10:41 a.m. ET, the small-cap index was down 9.68 points, or 1.25%, to 761.92. The Dow was down 16.02 points, or 0.12%, to 13,094.03.

Industrial production surprisingly fell 0.5% in October, the U.S. Federal Reserve reported minutes before the opening. That’s the biggest decline since January. Economists were expecting a rise of 0.1% after industrial production added 0.2% in September.

The decline was due primarily to a 1.6% drop in utilities, while mines fell 0.6% and construction slipped 0.4%.

Capacity utilization for the total industry declined to 81.7% from 82.2% in September.

The numbers tell us that the U.S. economy is probably headed for a slowdown, as industrial production is about 20% of gross domestic product. But the on the other hand, factories have plenty of room to ramp up production without triggering inflation.

In corporate news, there was a bullish mood before the start of trading on news that analysts have raised their recommendations on computer hardware maker Hewlett-Packard Co. (Nasdaq: HPQ) and energy giant Chevron Corp. (NYSE: CVX).

Also contributing good news was Cisco Systems Inc. (Nasdaq: CSCO), after the Internet communications company authorized additional stock repurchases valued at as much as $10 billion, raising the total amount to $62 billion.

Stocks started in positive territory but small caps tumbled down soon afterward, while the Dow held on for longer before trimming some of its gains and eventually also slipping into the red.