Tag - PHTN

Cypress Semiconductor Corp. (Nasdaq:CY), Jazz Pharmaceuticals Inc. (Nasdaq:JAZZ) and Hawthorn Bancshares Inc. (Nasdaq:HWBK) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: BankAtlantic Bancorp Inc. (Nasdaq:BBX), Travelzoo Inc. (Nasdaq:TZOO), Sucampo Pharmaceuticals Inc. (Nasdaq:SCMP), Coleman Cable Inc. (Nasdaq:CCIX), Isle of Capri Casinos Inc. (Nasdaq:ISLE) and Photon Dynamics Inc. (Nasdaq:PHTN).

Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed higher Wednesday, recapturing a little more than one-third of Tuesday’s massive decline as technology stocks and commodity shares were back in favor with investors and distressed financial issues stabilized. The Russell 2000 (NYSE:IWM) closed up 9.87, or 1.40%, at 717.16 and is now down 6.3% for the year. Meanwhile, the Dow was up 0.34% Wednesday, but still is off 15% for 2008, while the S&P 500 was up 0.61% on the day, but remains down 16% for the year.

One could argue that stocks were oversold after suffering the largest one-day rout of the year Tuesday, and while that likely played a role in the bounce today, there were also favorable stories to help fuel the move. It seemed like a majority of the earnings reports were either a non-event or slightly upbeat, and decent results from Texas Instruments Inc. (NYSE:TXN) appeared to project an immediate positive tone into the tech arena, which had been struggling of late. TXN gained about 1% on the day, and other tech stocks such as Research in Motion Ltd. (Nasdaq:RIMM), the makers of Blackberry, climbed 6%.

Homebuilders, which were absolutely hammered Tuesday, mounted a recovery bounce today, with the ISE Homebuilders Index rising 3%. DR Horton Inc. (NYSE:DHI) was up about 4% and Pulte Homes (NYSE:PHM) was up some 5%.

Energy shares were higher, even though crude oil prices slipped to fresh five-month lows. In fact, several commodity sectors provided a boost to the stock market, with coal, metals, steel, oil exploration, gas utilities and integrated oil and gas stocks among the best performing sectors. Chevron Corp. (NYSE:CVX) rose 3% and was one of the top lifts on large-cap indices and that strength spilled over into small-cap energy names as well. It was interesting to see that even though commodity stocks were a bullish element today for equities, the overall Commodity Research Bureau Index was actually down about 0.7%. Part of that slide in physical markets was likely tied to a strong tone in the U.S. dollar, which crimps demand for commodities priced in dollar terms. The greenback charged to fresh 11-month highs against the . . .

After plunging out of the gate this morning, small-cap stocks continue to bleed mid-session, besieged by a continued troubling outlook for financials, disappointing guidance by tech heavyweights, a lackluster outlook for the auto sector and a slowing economy —  all of which sparked concern for suppressed corporate earnings for the near foreseeable future.

At 1:19 p.m. ET, the Russell 2000 (NYSE:IWM) was down 16.70, or 2.33%, to 699.60, tumbling below a two-month low on April 22. The Dow skidded 241.58, or 2.05%, to reach a low for the year of 11,570.25, while the Nasdaq swooned 61.92, or 2.58%, to 2339.34.

Stocks are under pressure after Goldman Sachs downgraded the brokerage sector to “neutral” from “attractive,” citing a lack of positive catalysts going forward and eroding fundamentals. Goldman claims that investors are focusing more than needed on the possibility of another major bank collapse. The investment bank also downgraded Dow component Citigroup (NYSE:C) to “sell,” pushing the bank down 5% midday. Merrill Lynch (NYSE:MER) shares were off 4%, joining the weakness seen in financial shares after the opening.

Fresh concerns surrounding the health of the auto industry have also surfaced after Goldman Sachs lowered its rating on General Motors Corp. (NYSE:GM) to “sell” from “neutral,” sending shares sinking 10% mid-session.

The tech-heavy Nasdaq has been battered the most today, dragged down by disappointing guidance from tech juggernauts Research in Motion (Nasdaq:RIMM) and Oracle Corp. (Nasdaq:ORCL) Oracle posted solid quarterly results, but provided a cautious outlook for the next quarter. Shares for the third-largest software maker were off 3% early. Rim was downgraded by JMP Securities to market perform from market out perform today The blackberry maker said its revenue and earnings doubled, but issued a cautioned that earnings could come under pressure as it ramps up spending.

In economic news, GDP for the first quarter was upwardly revised to 1%, as expected. The figure is dated as we near the end of the second quarter, but does indicate that the economy did not slide into negative growth to start 2008. Weekly claims figures rose to 384,000 in the latest week, which was slightly above the forecast. Existing home sales clocked in better than expected at plus 2%, with an annual . . .

Community Bankshares, Inc. (AMEX:SCB), Photon Dynamics, Inc. (Nasdaq:PHTN) and AspenBio Pharmaceuticals (Nasdaq:APPY) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Targanta Therapeutics Corp. (Nasdaq:TARG), America's Car-Mart, Inc. (Nasdaq:CRMT), Oneida Financial Corp. (Nasdaq:ONFC), Ener1, Inc. (AMEX:HEV), and Advanced Battery Technologies, Inc. (Nasdaq:ABAT).

Here are the biggest percentage gainers among small caps:

Small-cap stocks took a nosedive on the opening, knocked to the canvas by yet another rout in financial stocks and by a dramatic morning plunge in technology stocks. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 8.99, or 1.25%, at 707.31, reaching the lowest point since April 24.

The tech-laden Nasdaq 100 Index was off about 2% this morning, with big-name tech stocks like Research in Motion (Nasdaq:RIMM) and Oracle Corp. (Nasdaq:ORCL) leading a jolting slide in the tech arena to start the day. RIMM shares were off 10% as its forward guidance disappointed. Oracle reported solid quarterly results, but provided a cautious outlook for the next quarter. Shares for the third-largest software maker were off 3% early.

The selling mood was also fueled this morning by a steep climb in crude oil prices, which shot back above $138 dollars a barrel. Commodity markets look firm to start the day amid a soft tone in the U.S. dollar. Corn prices are called sharply higher, copper prices were up 1.5% overseas and aluminum prices are up 10% so far in June, which keeps nagging inflation fears right in front of the market at a difficult time for the economy and for interest rate policy makers.

Analyst downgrades also took a toll on stocks this morning as researchers at Goldman Sachs lowered its rating on General Motors Corp. (NYSE:GM) overnight to a “sell” from “neutral,” and the stock tumbled 10% shortly after the open. Goldman put Citigroup (NYSE:C) on its sell list and the nation’s top bank slumped more than 5% early. Goldman also slashed its rating on the brokerage industry, so those stocks could be under pressure this morning as well. Merrill Lynch (NYSE:MER) shares were off 4%, joining the weakness seen in financial shares after the opening.

Financial stocks were taking a hit overseas, with European bank Fortis sinking some 10% on news that it will cancel its dividend and raise capital. European stocks were also off more than 1% heading into the U.S. open, while Asia shares were . . .

Photon Dynamics, Inc. (Nasdaq:PHTN) shares climbed more than 31% in Thursday’s pre-market trading after the company announced earlier in the day that Israel-based Orbotech Ltd. (Nasdaq:ORBK) would buy it for $290 million. Orbotech will pay $15.60 per share in cash for all shares of San Jose, Calif.-based Photon’s common stock. The companies expect the deal to close in the second half of 2008.

Photon Dynamics develops systems that enable flat-panel display producers to analyze data from the production line, and Orbotech Ltd. designs, develops and manufactures production solutions for the electronics industry.

Shares of Photon Dynamics were at $15.20 ahead of the bell, about 31.5% above Wednesday’s closing price.

Small-cap stocks opened lower and traded in a fairly narrow range during the rest of today’s session, trimming losses off the lows, but never catching up with a tame rise in the Dow and S&P 500. In the end, the Russell 2000 (NYSE:IWM) tumbled 5.39, or 0.76%, to 708.00, but an inside session dip for the small-cap index in the shadow of Wednesday’s big rise wasn’t all that unsettling.

However, if it all feels like a familiar refrain, you’re right. The Russell 2000 has now had five 3% one-day gains so far this year, and has now closed lower four times and was flat in the other instance. In essence, the market has been unable to sustain momentum off big rally days as investors are unwilling to take a stand that the worst is over for stocks. When the stock market starts to fly, investors are more willing to buy into strength and fund managers will scramble to catch up with the market. For now, the inability to sustain rallies suggests that the market is still burdened by caution. In the long haul, creating a “wall of worry” isn’t necessarily a bad thing when stocks are trying a build a foundation low, but it can create volatility, uncertainty and rollercoaster-price moves along the way.

Economic news today was less embraced by investors than what we saw during Wednesday’s big upside push. The most dynamic report came from the Philadelphia Federal Reserve, as their survey on manufacturing activity in the area came in down 24.9%, well below the market forecast which was in the minus 15 to . . .

Shares of Photon Dynamics, Inc. (Nasdaq:PHTN) are rising on news before the opening that the maker of digital imaging technology has raised its second-quarter guidance. The San Jose-based company expects revenue between $42 million and $45 million for the three months ended March 31, compared with a previous guidance calling for revenue between $36 million and $38 million.

Final results will be reported on May 1.

At 2:38 p.m. ET, the stock had advanced $0.72, or 7%, to $10.98.

The Russell 2000 (NYSE: IWM) is seesawing up and down as the small-cap index continues to trade with no clear direction.

At 10:56 a.m. ET, the small-cap index had added 3.68 points, or 0.52%, to 706.46. The Dow Jones Industrial Average (INDU) had gained 10.25 points, or 0.08%, to 12,257.25.

Trading is volatile as investors are looking for direction on a day with no major economic news. The mood in pre-market trading was slightly bearish following news that an official from the U.S. Federal Reserve said that the economy is headed for a slowdown.

“I consider it most probable that the U.S. economy will experience slow growth, and not outright recession, in coming quarters,” said Janet Yellen, president of the Federal Reserve Bank of San Francisco, in a speech in Honolulu.

Elsewhere, the U.S. Congress approved a $152 billion economic stimulus package that consists of tax rebates and business incentives that will hopefully prevent a recession.

The small-cap index has been swinging up and down since opening in negative territory, but shares of Coinstar, Inc. (Nasdaq: CSTR) established a clearly upward trajectory.

The Bellevue, Wash.-based company, which claims that it invented self-service coin counting, is rising high on news that fourth-quarter adjusted earnings beat Wall Street’s projections.

Shares of Photon Dynamics, Inc. (Nasdaq: PHTN) are also rising following news that the maker of technology facilitating the production of flat panel displays reported a first-quarter loss that was not as bad as analysts had projected.

On the other hand, Aruba Networks, Inc. (Nasdaq: ARUN) said that it will miss second-quarter estimates.

Waste Industries USA, Inc. (Nasdaq: WWIN), Columbus McKinnon Corp. (Nasdaq: CMCO) and EDAC Technologies Corp. (Nasdaq: EDAC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

Shares of Photon Dynamics, Inc. (Nasdaq: PHTN) are moving up on news before the opening bell that the maker of testing and repair equipment for flat panel display manufacturers forecast fiscal fourth-quarter profit significantly above Wall Street’s projections.

For the three months ended September 30, Photon Dynamics expects revenue of between $20 million and $25 million, which is between 17.86% and 47.32% above the $16.97 million three analysts surveyed by Thomson Financial expect the company to bring in.

Global supplier of integrated yield management solutions for the flat panel display market, Photon Dynamics, Inc. (Nasdaq: PHTN), announced today that it is acquiring privately held Salvador Imaging for $20 million.

Salvador Imaging is an international supplier of high-performance digital cameras.

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

Shares of Answers Corp.’s (Nasdaq: ANSW) stock plunged by $3.14, or 22.2%, to $11 in after-hours trading today after the Israeli company reported first-quarter earnings that missed analysts’ earnings estimates but which exceeded revenue estimates. For the three months ended March 31, Answers reported non-GAAP net income of $103,000, or $0.01 per share, on revenue of $3.4 million, compared with a non-GAAP net loss of $750,000, or $0.10, on revenue of $1.2 million in the 2006 first quarter. Two analysts polled by Thomson First Call had estimated earnings per share of $0.02 on revenue of $2.99 million. The Jerusalem-based firm owns and operates Answers.com, an Internet information portal.

Overhill Farms Inc.’s (AMEX: OFI) stock rebounded by $0.77, or $12.9%, to $5.18 in after-hours trading today after closing down 12.5% following the company’s reporting fiscal second quarter income that came in below analysts’ estimates. For the quarter ended April 1, the Los Angeles, Calif.-based company said it earned $875,000, or $0.06 per share, on record revenue of $46 million, compared with net income of $1.2 million, or $0.08 per share, on revenue of $43.7 million in the prior year. One analyst polled by Thomson First Call had estimated earnings per share of $0.10 on revenue of $53 million. Overhill Farms supplies frozen foods to foodservice, retail and airline customers.