Tag - PRSC

Petroleum Development Corp. (Nasdaq:PETD), Cornerstone Therapeutics Inc. (Nasdaq:CRTX) and Universal Display Corp. (Nasdaq:PANL) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: RINO International Corp. (Nasdaq:RINO), Zoltek Companies Inc. (Nasdaq:ZOLT), Providence Service Corp. (Nasdaq:PRSC), Parexel International Corporation (Nasdaq:PRXL), Clear Channel Outdoor Holdings Inc. (Nasdaq:CCO) and Colonial Bankshares Inc. (Nasdaq:COBK).

Wilmington Trust Corp. (Nasdaq:WL), AngioDynamics Inc. (Nasdaq:ANGO) and Providence Service Corp. (Nasdaq:PRSC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.
 
Also included among the results: Radiant Systems Inc. (Nasdaq:RADS), Isramco Inc. (Nasdaq:ISRL), Callaway Golf Co. (Nasdaq:ELY), Electro-Optical Sciences Inc. (Nasdaq:MELA), Rubicon Technology Inc. (Nasdaq:RBCN) and Asset Acceptance Capital Corp. (Nasdaq:AACC).

ARCA biopharma Inc. (Nasdaq:ABIO), Hot Topic Inc. (Nasdaq:HOTT) and Drew Industries Inc. (Nasdaq:DW) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Patriot Coal Corp. (Nasdaq:PCX), Providence Service Corp. (Nasdaq:PRSC), Texas Industries Inc. (Nasdaq:TXI), AnnTaylor Stores Corp. (Nasdaq:ANN), Heritage Commerce Corp. (Nasdaq:HTBK) and BPZ Resources Inc. (Nasdaq:BPZ).

China East Air Depository Receipt (Nasdaq:CEA), Florida Public Utilities Co. (Nasdaq:FPU) and Imergent Inc. (Nasdaq:IIG) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Providence Service Corp. (Nasdaq:PRSC), China Southern Airlines (Nasdaq:ZNH), Frisch's Restaurants Inc. (Nasdaq:FRS), Hi-Tech Pharmacal Inc. (Nasdaq:HITK), Zion Oil and Gas Inc. (Nasdaq:ZN) and MSB Financial Corp. (Nasdaq:MSBF).

Stocks are continuing their descent Monday afternoon on news that GM CEO Rick Wagoner has been asked to step down by the Obama administration.

At 1:33 pm ET, the Russell 2000 (NYSE:IWM) is down 12.97, or 3.02%, at 416.03, while the Dow is down 3.34% at 7,516.60 and the S&P 500 is down 3.4% at 788.18.

This morning the White House rejected turnaround plans from GM (NYSE:GM) and Chrysler. In response to the rejected proposals, the Obama administration pushed out GM's Wagoner and directed Chrysler to move quickly to forge a partnership with Fiat if it expects to receive additional government assistance. Wagoner was replaced with GM COO Fritz Henderson.

Small-cap Providence Service Corp. (Nasdaq:PRSC) is up over 30% this afternoon after the company guided earnings above estimates. Also climbing higher today is small-cap retailer Shoe Carnival, Inc. (Nasdaq:SCVL), rising 15% on higher-than-average volume, and InterDigital, Inc. (Nasdaq:IDCC), up 16% after cutting 100 jobs and announcing a business realignment.

******I didn’t know former General Motors CEO Rick Wagoner was so popular. The morning headlines in the financial press make it sound as though stocks are selling off because Wagoner and other auto industry executives failed to put forth strong enough turnaround plans to guarantee more government loans.

Never mind that the S&P 500 rallied 167 points, or 25%, over the last two weeks. Ignore the possibility that one of the sharpest rallies in stock market history might have some investors taking profits.

Now, that’s not to say that the hard line taken by the Obama administration toward the automakers isn’t affecting the stock market. It is. But just as the market rallied on news starting March 9, the bad news from the automakers is a catalyst for selling. News tends to catalyze investors’ predispositions.

*****The suggestion by the Obama administration that Wagoner step aside if GM is to get any more government money is certainly interesting. I’m sure that there will be many pundits criticizing the President for this move. After all, do we believe that President Obama knows more about making cars than a Detroit CEO?

Even though Wagoner pinned his company’s future on the Hummer . . .

Providence Service Corp. (Nasdaq:PRSC), Stewardship Financial Corp. (Nasdaq:SSFN) and PAM Transportation Services Inc. (Nasdaq:PTSI) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: BCSB Bancorp Inc. (Nasdaq:BCSB), Shoe Carnival Inc. (Nasdaq:SCVL), Citizens Holdings Co. (Nasdaq:CIZN), United Security Bancshares Inc. (Nasdaq:USBI), Clearwater Paper Corp. (Nasdaq:CLW) and Winmark Corp. (Nasdaq:WINA).

StealthGas Inc. (Nasdaq:GASS), Independence Holding Co. (Nasdaq:IHC) and Providence Service Corp. (Nasdaq:PRSC) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gladstone Commerical REIT (Nasdaq:GOOD), Park-Ohio Holdings Corp. (Nasdaq:PKOH), Flotek Industries Inc. (Nasdaq:FTK), Tortoise North American Energy Corp. (Nasdaq:TYN), Zoltek Companies Inc. (Nasdaq:ZOLT) and Templeton Emerging Markets Income(Nasdaq:TEI).

Here are the biggest percentage gainers among small caps:

Fairpoint Communications Inc. (Nasdaq:FRP), Isle of Capri Casinos Inc. (Nasdaq:ISLE) and KVH Industries Inc. (Nasdaq:KVHI) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AtriCure Inc. (Nasdaq:ATRC), Nexxus Lighting Inc. (Nasdaq:NEXS), Investors Title Co. (Nasdaq:ITIC), NewBridge Bancorp (Nasdaq:NBBC), Brookfield Homes Corp. (Nasdaq:BHS) and Providence Service Corp. (Nasdaq:PRSC).

Here are the biggest percentage losers among small caps:

Small-cap stocks went into rally mode Tuesday, quickly reclaiming lost ground from Monday’s downward spiral as crude oil tanked and consumer sentiment perked up from the abyss. The Russell 2000 (NYSE:IWM) closed up 18.44, or 2.65%, at 714.55, generating the 10th-largest one-day rally of the year. This also marked the fourth one-day gain in July of 2% or more. The only other month this year that saw that many 2% rally days was in March — when the market forged an important bottom.

During the session, crude oil prices shed more than $3 dollars a barrel, retreating below $121 while approaching three-month lows. By the close, crude was off $2.54 dollars to $122.19. Concern about the demand side of the equation continues to discourage energy bulls, and OPEC president Chakib Khelil said that crude oil prices could tumble to the $70- to $80-range if the U.S. dollar strengthens and if political tensions ease in the Middle East. The U.S. dollar jumped to four-week highs against the euro, heating up talk that the short dollar/long energy hedge fund trade was still being unwound. The greenback was on a roll against the yen, rising to four-week highs, while gaining about 0.6%.

The recent collapse in crude oil prices (crude is off some 17% from the July peak) has been a welcome sign to stock market investors who worried that persistent gains in the energy market would have crippled consumer spending and thwarted any recovery attempts in the U.S. economy — especially with the housing market still reeling.

Speaking of the housing situation, the Case-Shiller Home Price Index came out today. To no one’s surprise, the Index slipped to record low levels and suggested that home prices were at four-year lows. However, the report was in line with expectations, the data is for the May time frame, and was completely overshadowed by the consumer confidence report, which came in well above expectations. The headline figure for consumer confidence was at 51.9, which easily topped the analyst forecast of 50. It should be noted that 51.9 is still a low number historically, but with crude oil sinking, the dollar surging and several key economic numbers still on tap this week, a good sentiment figure simply made it even more difficult for the shorts to . . .

Providence Service Corp (Nasdaq:PRSC), Zones Inc (Nasdaq:ZONS) and Zoran Corp (Nasdaq:ZRAN) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: PLX Technology Inc (Nasdaq:PLXT), Protherics PLC(Nasdaq:PTIL), United America Indemnity Ltd (Nasdaq:INDM), Cascade Microtech Inc (Nasdaq:CSCD) and Ladish Co Inc (Nasdaq:LDSH).

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

Providence Service Corp (Nasdaq:PRSC), PC Connection, Inc (Nasdaq:PCCC) and PLX Technology Inc (Nasdaq:PLXT) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Taylor Capital Group Inc (Nasdaq:TAYC), Virtual Radiologic Corp (Nasdaq:VRAD), Harmonic Inc (Nasdaq:HLIT), Cognex Corp (Nasdaq:CGNX), Zoran Corp (Nasdaq:ZRAN) and Pyramid Oil Co (Nasdaq:PDO).

Here are the biggest percentage losers among small caps:

Small cap stocks pushed higher in Tuesday afternoon, erasing some of Monday’s sizable drop as crude oil prices fell and investors digested a rise in consumer confidence. At 2:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 15.61, or 2.24%, at 711.72 while the Dow was up 176.60, or 1.59%, to 11,307.68.

The consumer confidence report clocked in at 51.9, which was above the forecast of 50 and which sparked a quick jump in the U.S. dollar while extending the morning rally in equities. Consumer spending makes up more than two-thirds of U.S. economic activity. Earlier this morning, investors reacted tepidly to the Case-Shiller Home Price Index, which slipped at a record pace to minus 15.8% in May.

Crude oil futures were pushing lower this afternoon, which provided some support to the stock market. In recent trading, crude oil fell $2.84 to $121.89 a barrel. OPEC president Chakib Khelil said that current prices for crude were “abnormal” and that prices could fall to $70 to $80 dollars in the long-term picture if the U.S. dollar strengthens and political tensions ease. The greenback was up this afternoon against both the euro and the yen.

Traders will keep a close watch on the financial arena again today following news overnight that Merrill Lynch (NYSE:MER) announced plans to write-down $5.7 billion in debt and raise $8.5 billion in capital through new stock sales. In the afternoon session, MER shares were up some 2%. Also within the financial spectrum, Citigroup (NYSE:C) was the target of negative analyst comments overnight, but is still up 2.75% this afternoon.

The Providence Service Corporation (Nasdaq:PRSC) has plummeted 46% today after lowering its second-quarter earnings guidance to $0.26 to $0.28 per share, down from previous estimates of $0.36 to $0.38 a share. Revenue for the quarter ended June 30 is expected to be $173 million, compared with prior guidance of $174 million to $175 million. Analysts were expecting earnings per share of $0.37 on revenues of $171.4 million.

The Tucson, Ariz.-based government outsourcing company said it had to lower guidance because of budgetary issues impacting many state and local government agencies. The company will report its complete second quarter results on Aug. 6 after the market close.

Shares have plunged $8.80 to $10.45 at 11:19 a.m. ET. The stock touched a 52-week low of $8.75 shortly after the opening. Trading volume has soared to more than 2 million shares, up from the average of about 149,000.

Small-cap stocks pushed higher, recouping some of Monday’s big decline amid lower crude prices and positive economic data. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 9.95, or 1.43%, at 706.06.

The consumer confidence report came out at 51.9, which was above the forecast of 50 and which sparked a quick jump in the U.S. dollar while extending the morning rally in equities.

Earlier this morning, the Case-Shiller Home Price Index slipped at a record pace to minus 15.8% in May, which wasn’t a surprise to the market, but is sobering news to home owners who have seen four years of home equity wiped out during the recent downturn in housing.

Crude oil futures were pushing lower this morning, which provided some support to the stock market. The market for black gold was off nearly $2 dollars a barrel into the U.S. stock market open, backing down below $124 amid concerns about the demand picture. OPEC president Chakib Khelil said that current prices for crude were “abnormal” and that prices could fall to $70 to $80 dollars in the long-term picture if the U.S. dollar strengthens and political tensions ease. The greenback was up this morning about 0.6% against both the euro and the yen.

Traders will keep a close watch on the financial arena again today following news overnight that Merrill Lynch (NYSE:MER) announced plans to write-down $5.7 billion in debt and raise $8.5 billion in capital through new stock sales. Shortly after the open, MER shares were down 1%. Also within the financial spectrum, Citigroup (NYSE:C) was the target of negative analyst comments overnight and slumped 2.5% on the open.

Coming into the opening today, stock markets around the world were on tilt, sinking to two-week lows as the MER news sparked renewed fears about the credit crunch. Although European shares bounced off the lows, they were hit hard at times overnight, and Asian markets had a decidedly bearish result, with Japan down 1.4%, Hong Kong down 1.8%, China down 1.8%, Taiwan down 3.0%, Australia . . .

Anchor Bancorp of Wisconsin Inc (Nasdaq:ABCW), First California Financial Group Inc (Nasdaq:FCAL) and Preferred Bank (Nasdaq:PFBC) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Bank of the Ozarks Inc (Nasdaq:OZRK), C&F  Financial Corp (Nasdaq:CFFI), Banner Corp (Nasdaq:BANR), Providence Service Corp (Nasdaq:PRSC), City Bank (Nasdaq:CTBK) and Cascade Financial Corp (Nasdaq:CASB).

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

Providing services for those in difficult straits doesn’t seem like a popular business, and it isn’t. But it can be a profitable one, particularly when handled by Providence Service Corp. (Nasdaq: PRSC).

Providence delivers privatized social services in clients’ homes or communities; the company does not own any hospitals, correction facilities, treatment centers or group homes. Providence seeks business through state and local government initiatives, offering foster care and home- and community-based service alternatives in adult and juvenile justice, corrections, welfare systems, and Medicaid. As it continues to find room for more services, the company moved into the in-home tutoring space, workforce development and private probation services markets through several acquisitions completed in 2006.

Since its founding in 1996, Providence has grown from 1,333 clients to more than 70,000 in 318 locations in 36 states and the District of Columbia. Headquartered in Tucson, Ariz., the company now has market capitalization of $348 million. 

Just this month, Providence began operating in Canada by buying workforce-trainer WCG International Consultants Ltd., a Victoria, British Columbia-based company. Providence sees Canada as a growth spot, considering the country’s liberal benefits—including those for job training—and robust economy. There also are few if any home-based providers in western Canada, CEO Fletcher McCusker said on the second quarter conference call earlier this month. The company looks for other opportunities in British Columbia and in other provinces.

In the United States, there’s good reason to expect more growth. The trend is toward privatization of government services, and larger numbers of people are becoming eligible for these services because of income, emotional or educational disabilities, or court orders.