Tag - PBKS

Cornell Companies Inc. (Nasdaq:CRN), Synutra International Inc. (Nasdaq:SYUT) and BWAY Holding Co. (Nasdaq:BWY) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Provident Bankshares Corp. (Nasdaq:PBKS), First California Financial Group Inc. (Nasdaq:FCAL), Acme United Corp. (Nasdaq:ACU), Bridgford Foods Corp. (Nasdaq:BRID), and SI Financial Group Inc. (Nasdaq:SIFI).

DryShips Inc. (Nasdaq:DRYS), ViroPharma Inc. (Nasdaq:VPHM) and Canadian Solar Inc. (Nasdaq:CSIQ) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Provident Bankshares Corp. (Nasdaq:PBKS), GT Solar International Inc. (Nasdaq:SOLR), Arena Pharmaceuticals Inc. (Nasdaq:ARNA), Verigy Ltd. (Nasdaq:VRGY), Palm Inc. (Nasdaq:PALM) and Ceradyne Inc. (Nasdaq:CRDN).

The Russell 2000 (NYSE:IWM) pushed higher Friday, gaining a boost from merger activity in the banking sector, a jump in restaurant shares and a lift from news of a rescue plan for automakers. All of those factors help offset sloppy action in commodities, and worries about retailer sales into a key shopping weekend. Some of today’s small-cap gainers are Provident Bankshares (Nasdaq:PBKS), MAP Pharmaceuticals (Nasdaq:MAPP) and Rubicon Technology (Nasdaq:RBCN).

Other Market Watch highlights today included:

• Tech stocks were a noteworthy source of strength Friday.
• Energy and commodity physical markets struggled today, weighed down by concerns about demand amid slumping economic conditions.
• Crude oil futures eventually closed down $2.35 a barrel, or 6%, at $33.87, the lowest close for a nearby contract since February 2004.
• Retailer shares were a source of weakness for stocks today, a gloomy note into what has been billed as the busiest shopping weekend of the entire year.
• Looking ahead to next week’s action, the market will be facing what is historically one of the slowest weeks of the year. 

Small Cap Gainers:

• M&T Bank Corporation will qcquire Provident Bankshares Corp. (Nasdaq:PBKS); shares of PBKS closed up a whopping 60% on the news.
• MAP Pharmaceuticals Inc. (Nasdaq:MAPP) soared 36% on unusually . . .

Small-cap stocks pushed higher Friday, gaining a boost from merger activity in the banking sector, a jump in restaurant shares and a lift from news of a rescue plan for automakers. All of those factors help offset sloppy action in commodities, and worries about retailer sales into a key shopping weekend. The Russell 2000 (NYSE:IWM) closed up 7.09, or 1.48%, at 486.26 and is now down 37% for the year. Meanwhile, the Dow is off 35% for 2088 and the S&P 500 is down 40%.

Small caps were noticeably strong relative to large caps, fueled by M&A activity in the banking area. “I think that the M&T Bank Corp. (NYSE:MTB) purchase of Provident Bankshares Corp. (Nasdaq:PBKS) has caused investors to see value in small-cap banks and the purchase came at a nice premium,” Nick Kalivas, vice president of financial research with MF Global, said in an email interview. PBKS shares jumped 60% on the news.

Kalivas also said that positive profit news from restaurant operator Darden Restaurants Inc. (NYSE:DRI) provided a lift to the restaurant sector, which was reflected through impressive positive breadth in small-cap eateries. Small-cap restaurants on the move today included Cheesecake Factory Inc. (Nasdaq:CAKE) which jumped 12%; Brinker International Inc. (NYSE:EAT) up 29% as the firm completed a sale of the Macaroni Grill; The Steak n Shake Co. (NYSE:SNS), up 12%; and Papa Johns International Inc. (Nasdaq:PZZA) up 8%.

In addition, Kalivas said that the general atmosphere of cheaper gasoline and a mini-wave of refinancing activity provides a supportive element to the small-cap universe.

As for today’s quadruple witching expirations of stock index futures, options and single stock futures, Kalivas said that “pinning” action (which refers to . . .

Provident Bankshares Corp (Nasdaq:PBKS), MAP Pharmaceuticals Inc (Nasdaq:MAPP) and Midas Inc (Nasdaq:MDS) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: RHI Entertainment Inc (Nasdaq:RHIE), Alamo Inc (Nasdaq:ALG), Bottomline Technologies  Inc (Nasdaq:EPAY), Neenah Paper Inc (Nasdaq:NP), Multi Color Corp (Nasdaq:LABL) and Columbia Banking System Inc (Nasdaq:COLB).

DryShips Inc. (Nasdaq:DRYS), Provident Bankshares Corp. (Nasdaq:PBKS) and Arthrocare Corp. (Nasdaq:ARTC) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Take Two Interactive Software Inc (Nasdaq:TTWO), Eagle Bulk Shipping Inc (Nasdaq:EGLE), Clean Energy Fuels Corp (Nasdaq:CLNE), Ciena Corp (Nasdaq:CIEN), TBS International Ltd (Nasdaq:TBSI) and Ceradyne Inc (Nasdaq:CRDN).

Chase Corp. (Nasdaq:CCF), Entergy Mississippi 6% Series First Mortgage Bonds Exp 01 No. (Nasdaq:EMQ) and Finish Line Inc. (Nasdaq:FINL) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Finish Line Inc. (Nasdaq:FINL), Consolidated Water Co Ltd. (Nasdaq:CWCO), Provident Bankshares Corp. (Nasdaq:PBKS), Molecular Insight Pharmaceuticals Inc. (Nasdaq:MIPI), Naugatuck Valley Financial Corp. (Nasdaq:NVSL) and TransMontaigne Partners L.P (Nasdaq:TLP).

Here are the biggest percentage losers among small caps:

Bank holding company Provident Bankshares Corporation (Nasdaq:PBKS) is up 28% today after reporting strong second-quarter earnings. For the quarter ended June 30, net income was $15.1 million, or $0.41 per share, which soared above Wall Street’s expectations of $0.30 per share. The better-than-expected results were due to no significant deterioration in the credit quality of the company’s loan portfolio and a decrease in non-performing loans, the company said. The Baltimore, Md.-based company is trading $1.70 higher today at $7.77. Trading volume has zoomed past 1 million shares, well above the average.

Catalyst Semiconductor Inc (Nasdaq:CATS), MGIC Investment Corp (Nasdaq:MTG) and Cheviot Financial Corp (Nasdaq:CHEV) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gencor Industries Inc (Nasdaq:GENC), Provident Bankshares Corp (Nasdaq:PBKS), Atlantic Coast Federal Corp (Nasdaq:ACFC), USA Truck Inc (Nasdaq:USAK), Pzena Investment Management Inc (Nasdaq:PZN) and HNI Corp (Nasdaq:HNI).

Here are the biggest percentage gainers among small caps:

MTS Medication Technologies Inc (Nasdaq:MPP), Republic Airways Holdings Inc (Nasdaq:RJET) and Provident Bankshares Corp (Nasdaq:PBKS) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Apex Silver Mines Ltd (Nasdaq:SIL), Benihana Inc (Nasdaq:BNHNA), Old Second Bancorp Inc (Nasdaq:OSBC), First M&F Corp (Nasdaq:FMFC), Cathay General Bancorp (Nasdaq:CATY) and Sandy Springs Bancorp Inc (Nasdaq:SASR).

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

Fuqi International, Inc. (Nasdaq:FUQI), Aspect Medical Systems, Inc. (Nasdaq:ASPM) and Provident Bankshares Corp. (Nasdaq:PBKS) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $750 million.

Cano Petroleum, Inc. (AMEX:CFW), Texas Capital Bancshares, Inc. (Nasdaq:TCBI) and Knoll, Inc. (NYSE:KNL) are also among the top small-cap percentage gainers.

Here are Thursday's biggest percentage gainers among small caps:

Shares of Provident Bankshares Corp. (Nasdaq: PBKS) are depreciating on news after the close on Wednesday that the bank holding company swung to a fourth-quarter net loss.

The Baltimore, Md.-based holding company for Provident Bank reported a net loss of $15.8 million, or $0.50 per share, for the three months ended Dec. 31, 2007. That compares to a net income of $11.3 million, or $0.34 per share, a year earlier. Seven analysts polled by Thomson Financial were projecting a loss of $0.55 per share.

“The loss was a function of writing down $66 million in collateralized debt obligations,” said Jeff Davis, an analyst with equity research firm FTN Midwest Securities Corp., in a phone interview.

The bank reported that it increased its average loans 8% to $291.3 million from $269.7 million during the fourth quarter of 2006. Average home equity loans increased 8% to $80.4 million from $74.4 million a year earlier, while commercial real estate loans posted a rise of 12%.

“Their footprint is Baltimore south, through Washington, D.C. and northern Virginia,” said Davis. “That market, relative to the rest of the country, is performing well. But that is not to say that residential markets are not stressed.”

However, net interest income declined 7% to $45.9 million from $49.4 million a year earlier as Provident Bank’s customers continue to shift their deposits to higher yielding deposit products.

The company also said that its efficiency program slashed cost salaries and benefits 10% from a year ago and resulted in the elimination of about 300 positions.

The Russell 2000 (NYSE: IWM) futures are higher but the small-cap index could be weighed down by news of poor housing starts.

The slump in the housing sector has apparently deepened, according to a report by the U.S. Census Bureau that shows a decline in December housing starts.

Housing starts fell 14% to a seasonally adjusted annual rate of 1.006 million units, below November’s downwardly revised total of 1.173 million. Economists were expecting to see a smaller drop to 1.15 million.

What’s worse, the housing sector does not appear to be headed for recovery.

That’s because building permits, a sign of future construction, fell 8.1% to an annual rate of 1.068 million units. Economists were expecting a smaller decline.

In other economic news, investors will be paying attention to U.S. Federal Reserve chairman Ben Bernanke’s congressional testimony. Concerns about the overall state of the economy have increased calls for some sort of response to prevent a recession.

Observers and economists widely expect the Fed to lower its target interest rate when it next meets on Jan. 29 and 30.

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:

• Comtech Group, Inc. (COGO), up 10% on news it has reaffirmed its 2007 guidance due to strong business.
• Smith & Wesson Holding Corp. (SWHC), up 8%.
• Brigham Exploration Co. (BEXP), up 7% on news it has discovered three wells.

Biggest percentage losers:

• Jones Soda Co. (JSDA), down 4% on news of an analyst downgrade.
• Provident Bankshares Corp. (PBKS), down 4% on news of a fourth-quarter loss.
• ANADIGICS, Inc. (ANAD), down 3%.