Tag - OESX

Shares of Orion Energy Systems, Inc. (Nasdaq:OESX) are losing ground ahead of the opening bell after the energy management systems provider said its fiscal 2009 first quarter earnings plunged 96%. The company broke even on a per share basis meeting the consensus on Wall Street. Revenue declined 3.6% and met analysts’ estimates.

Results within the quarter were softer than anticipated on account of efforts to further develop its sales organization, which resulted in more attention being diverted from closing current opportunities than originally planned. The company also experienced a lengthening of sales cycles due to the current lackluster economic environment

Shares lost 8%, or $0.40, to $4.80 ahead of the open. For detailed price information and recent news stories about Orion Energy Systems, click OESX. 

Tennessee Commerce Bancorp Inc (Nasdaq:TNCC), Orion Energy Systems Inc (Nasdaq:OESX) and Mercantile Bank Corp (Nasdaq:MBWM) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Famous Daves of America Inc (Nasdaq:DAVE), C&F  Financial Corp (Nasdaq:CFFI), LNB Bancorp Inc (Nasdaq:LNBB), Exterran Partners L P (Nasdaq:EXLP), Banro Corp (Nasdaq:BAA) and Savannah Bancorp Inc (Nasdaq:SAVB).

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

Small-cap stocks took flight Wednesday, as investors embraced a spate of relatively positive earnings results and another slide in crude oil as a sign that the market may have weathered the worst of the summer storm. The Russell 2000 (NYSE:IWM) jumped 24.39, or 3.68%, to 686.75, notching the fourth-largest one-day advance of the year, powered by gains in financial and tech stocks.

The impressive rally topped off a picture perfect validation of a bullish chart pattern from Tuesday’s recovery bounce off fresh move lows, and further upside action this week would cement the most powerful technical analysis bullish signal in months. In addition, the heightened volatility in recent days fits with similar whipsaw price action at the lows back in January and March.

The market was also able to carve out today’s sizable gains despite another serving of bearish economic headlines. When the market starts to work higher in the face of bearish news, it is considered a classic show of strength — especially if the move is powered by more than just short-covering amid oversold conditions. While we wait for further confirmation of the recovery off Tuesday’s lows, let’s recap what the market overcame on the data front today.

The big report this morning was the Consumer Price Index release. For the second consecutive day, the market was slapped in the face with sobering inflation news. The headline figure for CPI came in at plus 1.1%, which was the largest monthly advance in 26 years. What’s more, the year-over-year increase was at a whopping 5%, which is the largest rise in consumer prices since 1991. In short, the CPI news was every bit as troubling as Tuesday’s Producer Price Index report, where the year-over-year figure was the highest since June 1981. And the inflation data simply adds to the woes from slumping housing, GDP and labor market reports of recent months.

So, if we are truly mired in a slow growth, rising unemployment, escalating inflation world, then why on earth did small caps put together such an impressive rally today? The easy part of that question is that crude oil prices tumbled down to . . .

After a brief pull back after the opening, small caps staged a welcome upward trajectory, breaking this week’s red streak as better-than-expected earnings from Wells Fargo (NYSE:WFC), the SEC’s initiation to taper the shorting the financial sector has experienced year-to-date and deflating crude served to lift the market.
 
At 1:51 p.m. ET, the Russell 2000 (NYSE:IWM) was up 14.65, or 2.21%, at 677, while the Dow is up 153.96, or 1.4%, at 11,116.50.

Federal Reserve Chairman Ben Bernanke was back on Capitol Hill for day two of his six-month economic progress report. Following a Q&A session in front of the Senate on Tuesday, the Fed Chair told the House a similar version. In testimony in front of the House, Bernanki told regulators that the central bank aims to attain price stability, as inflation in the United States “is too high.”

“Bernanke is stuck between a rock and a hard place right now regarding the economy,” said Bill Greiner, chief investment officer for UMB Asset Management and UMB Bank, and chief economist for Scout Investment Advisors. “The Fed’s priority has been trying to maintain stability in the financial system this year. The collateral damage of that focus now is that they’re going to try to keep the system liquid and not pay strict attention to what’s going on in the inflation world … I think they will be [hawkish] into 2009. They started jawboning about six weeks ago — trying to talk interest rates up, talking about the idea of tightening money supply by increasing interest rates some time in the not so distant future. But then Fannie Mae and Freddie Mac happened.”

As the Fed Chair again addressed slower growth coupled with inflationary pressures that confront the economy, his comments proved timely in the face of troubling consumer price index data.

The headline figure for CPI clocked in at plus 1.1%, which was the largest monthly advance in 26 years. What’s more, the year-over-year increase was at a whopping 5%, which is the largest rise in consumer prices since 1991. Today’s CPI figure, which was in line with the forecast, came on the heels of Tuesday’s unsettling PPI report.

“We’re starting to see signs that headline inflation—and what’s been driving headline inflation on the upside (i.e. transportation costs and food costs) are starting to bleed into other areas of the economy,” Greiner said. “We’re starting to see some serious contagion with energy and commodity price inflation into other segments in the economy. Now I don’t think it’s gotten to a point where we’ll see wage-price spiral inflation. [However,]…if we’re starting to see labor costs move up dramatically in relation to productivity gains then I think we have a much more serious problem on our hands than we do today.”

Orion Energy Systems Inc (Nasdaq:OESX), Alto Palermo SA (Nasdaq:APSA) and eResearch Technology Inc (Nasdaq:ERES) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Chimera Investment Corp (Nasdaq:CIM), Nymagic Inc (Nasdaq:NYM), Approach Resources Inc (Nasdaq:AREX), USANA Health Sciences Inc (Nasdaq:USNA), Heritage Financial Group (Nasdaq:HBOS) and Navigators Group Inc (Nasdaq:NAVG).

Here are the biggest percentage losers among small caps:

InterVoice Inc (Nasdaq:INTV), IPC The Hospitalist Co Inc (Nasdaq:IPCM) and Solarfun Power Holdings Co Ltd (Nasdaq:SOLF) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc (Nasdaq:CSIQ), National Coal Corp (Nasdaq:NCOC), Orckit Communications Ltd (Nasdaq:ORCT), Orion Energy Systems Inc (Nasdaq:OESX), CoStar Group Inc (Nasdaq:CSGP) and China Sunergy Co Ltd (Nasdaq:CSUN).

Here are the most actively traded companies among small caps: 

Orion Energy Systems Inc. (Nasdaq:OESX) is down more than 41% in pre-market trading today after the company was downgraded earlier in the day to “market weight” from “overweight” at Thomas Weisel. The research firm lowered its price target to $5 from $6. The downgrade comes on the heels of the Plymouth, Wis.-based energy management company’s announcement after Tuesday’s close that it would report lower-than-expected first quarter earnings. First-quarter revenue should be in the range of $16.1 million to $16.3 million, the company said. Wall Street was expecting revenues of $21.9 million for the quarter ended June 30. Orion revised its 2009 annual revenue guidance to between 25% to 28% year-over-year growth. Total revenue is now forecast for a range of $101 million to $103 million. Orion attributed the lowered guidance to its emphasis on building a sales organization, which resulted in less time on closing new sales.

Ahead of the opening, shares are at $5.01, down $3.59 or 41.7% from Tuesday’s closes.

AgFeed Industries Inc (Nasdaq:FEED), RAM Energy Resources Inc (Nasdaq:RAME) and EMCORE Corp (Nasdaq:EMKR) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $750 million.

Orion Energy Systems Inc (Nasdaq:OESX), Moldflow Corp (Nasdaq:MFLO) and Ascent Solar Technologies Inc (Nasdaq:ASTI) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

This week in Newsletter Watch, we focus on ChangeWave Investing editor Toby Smith, who is one of the most widely followed financial newsletter advisors. According to his investment strategy, a “changewave” is any emerging technology or trend that, like a wave,  is unstoppable. His focus, therefore, is isolating these future trends and the isolating individual stocks that are poised to ride these waves.

One method that Smith uses to determine these changewaves is by analyzing ongoing surveys of the members of his "ChangeWave Alliance." The participants in this group include investors and professional analysts, industry experts and tech industry employees, ranging from salespeople to researchers to CEOs.

Through ongoing and detailed surveys, these participants provide a unique look into patterns and trends, offering valuable information on developing research, sales trends, expectations and future plans.

"Recently, the ChangeWave Alliance took its first comprehensive look at corporate energy usage and the findings were eye-opening. We found that a sea change is occurring in the way corporations view energy consumption," Smith said.

According to the Alliance survey, 62% of those "in the know" expect either a "moderate" or "significant" rise in electricity prices in the next 12 months. Only 2% said they think prices will remain at current levels.

Twenty-two percent of respondents reported that their company is "very concerned" about reducing its energy usage, and another 35% said their company is "somewhat concerned."

Most important, he adds, 23% reported their company's spending on energy efficiency products and technologies will increase during the next six months — three . . .

The Russell 2000 (NYSE:IWM) futures are higher and the small-cap index will likely open in the green.

Producer prices, the selling prices received by domestic producers for their output, rose 1.1% in March, the U.S. Labor Department reported this morning. Economists were expecting a more modest increase of 0.6%.

In other bullish economic news, the New York Federal Reserve announced this morning that its manufacturing survey showed an increase in April, defying expectations of a decline.

The Russell 2000 edged lower Monday, stalling in the morning just below the 20-day moving average, and by the close losing 2.09, or 0.30%, to 686.07. The market is fast approaching important support along the 681 zone. Below there, the next support comes in at 672 and 666. On the upside, resistance is pegged today at 695, then at 704.

The economic calendar is quiet the rest of the day, allowing traders to focus on earnings news and other events.

Shares of Orion Energy Systems, Inc. (Nasdaq:OESX) are treading higher in pre-market trading after the energy management systems manufacturer said this morning that it completed installation of its compact modular lighting platform by SYSCO Corp.

Orion said it will save its client 34 million kilowatt-hours of electricity per year, translating to approximately $2.85 million annually in reduced energy costs tied to lighting and over $350,000 in reduced cooling costs.

Shares advanced 11.3%, or $1.13, to $11.15 in pre-market trading. For detailed price information and recent news stories about Orion Energy Systems, click OESX. 

Shares of Orion Energy Systems, Inc. (Nasdaq:OESX) received a jolt on news before the opening that its lighting technology has been put to use in a factory. The Manitowoc, Wis.-based company said that Trane Corp., which makes air conditioning systems, has installed the technology at one of its production facilities in order to increase lighting while reducing energy consumption.

At 3:29 p.m. ET, the stock had added $1.38, or 14%, to $11.00.

The Russell 2000 (IWM) rose for the first time this week despite news that painted a bleak picture of the U.S. economy. The small-cap index added 10.29 points, or 1.49%, to 702.78. The Dow Jones Industrial Average (INDU) added 46.90 points, or 0.38%, to 12,247.00.

On a year-to-date basis, the Russell 2000 has shed 8.26%, while the Dow has let go 7.67% and the S&P 500 has left behind 8.95%.

Small-cap stocks went on a rollercoaster ride that started with a decline out of the gate as investors reacted to news that U.S. retail sales in January generally missed already low expectations.

That’s a worrying sign that consumers have pulled back and the economy is either headed for a recession or already in one.

Grabbing the headlines was Wal-Mart Stores, Inc. (NYSE: WMT), which announced that its January same-store sales increased a paltry 0.5%, below the forecasted 2%. If American consumers really are reining in their spending, the squeeze won’t be felt just by the world’s largest retailer.

“Smaller-cap retailers are definitely more volatile than their larger brethren, many times because they are focused on one particular niche,” said Eric Beder, a retail analyst with investment bank Brean Murray, Carret & Co., in an email.

The Russell 2000 (NYSE: IWM) futures are down and the small-cap index will open lower on news of weak January retail sales.

The bears are ready to go on news that U.S. retailers reported January sales below expectations, indicating that consumer spending has declined and the economy is headed for, or already is in, a recession.

The Russell 2000 fell hard in the afternoon Wednesday, finishing down 9.09, or 1.30% at 692.49. This marked the third consecutive session that small caps closed below opening levels, the first time that has happened since the Jan. 22 low. Look for support today at 680 and 669, and resistance at 702, 712 and 721.

There are additional Federal Reserve speakers on the agenda today, but it’s unlikely they will carry the same kind of punch that we’ve seen recently. The docket includes Atlanta Fed President Dennis Lockhart at 8:30 a.m. ET, and Dallas Fed President Richard Fisher at 1:00 p.m. ET.

A strong rally in the last hour of trading lifted the Russell 2000 (NYSE: IWM) and the other major U.S. indices in the green. The small-cap index rose 7.26 points, or 1.03%, to 712.12. The Dow Jones Industrial Average (INDU) added 146.24 points, or 1.16%, to 12,735.31.

On a year-to-date basis, the Russell 2000 has lost 7.04%, while the Dow is down 3.99% and the S&P 500 has declined 4.03%.

An uneven day of trading ended on a bullish note as investors went hunting for bargains late in the session.

Small-cap stocks had no clear direction much of the time, as the bears and bulls struggled and sought to gain a perspective on the state of the U.S. economy. The Russell 2000 spent the early morning near the flat line but slipped and fell at about 11:30 a.m. ET. It bottomed out shortly after 2 p.m. ET as investors reacted to news that Goldman Sachs Group Inc. (NYSE: GS) is predicting a recession.

The New York-based investment bank wrote in a note to its clients that it expects gross domestic product to decline in the second and third quarters, prompting the Fed to keep lowering the federal funds rate until it hits 2.5%.

The federal funds rate, the rate at which commercial banks make overnight loans to each other, currently stands at 4.25%.

Many of the illnesses that scourge our population are simply related to aging. We can survive so many of the things that killed our ancestors before they turned 40 that now, as we keep going decades longer, we suffer from metabolic breakdowns: diabetes, obesity, and ordinary old age. The easiest way to avoid these conditions is to die young, but that’s not really the best option. Elixir Pharmaceuticals, Inc. has no products on the market yet, but it has several in its R&D pipeline that could be interesting. Two compounds, Glinsuna and Metgluna, are both designed to treat Type 2 diabetes. Both are in Phase III clinical trials (to test safety and efficacy in clinical use), and the company hopes to have enough data to submit for approval in 2009. Other products, for diabetes, obesity, opioid-induced bowel dysfunction, and Huntington’s disease, are further behind in the process but could lead to a string of products into the next decade.

With no products for sale, it’s no surprise that Elixir has no revenue and lost about $20 million in 2006. This offering will give the company funding to continue its research and, it is hoped, to bring Glinsuna and Metgluna to market. It has a smart group of experienced health care venture capitalists on board: ARCH Ventures, MPM Capital, Oxford Bioscience and Physic Ventures. It’s a gamble, though: the company seems to have the right people in place and is looking at products that address huge market needs, but there’s no guarantee that anything will work properly, receive FDA approval, and interest doctors enough to write prescriptions.