Tag - RHIE

Small-cap stocks remained sharply lower into mid-session, but were up from the extreme morning lows. Losses were stirred by worries over the economy, a revenue warning from key tech player Intel Corp and news of a big fraud from a major Indian outsourcing firm. At 12:33 p.m. ET, the Russell 2000 (NYSE:IWM) was down 11.90, or 2.31% at 502.81.

President-elect Obama addressed several issues at mid-morning, ranging from the Middle East situation to the economy. He said that his stimulus plan will likely be at the high end of expectations, which likely helped pull stocks off the morning lows. Equities markets in the United States and even around the world have embraced talk of a major infrastructure spending plan forwarded by Obama. Obama said that he will deliver a major speech on the economy and the stimulus package on Thursday. He is slated to take over as President on January 20.

Ahead of the opening today, the ADP National Employment Survey reported that 693,000 private sector jobs were lost in December, which was a record high for the ADP report (the data base started in 2001). That figure was way above the consensus ...

VeriFone Holdings Inc. (Nasdaq:PAY), Eastern Insurance Holdings Inc. (Nasdaq:EIHI) and Secure America Acquisition Units (Nasdaq:HLD.U) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Peapack Gladstone Financial Corp. (Nasdaq:PGC), Telecom Argentina ADR (Nasdaq:TEO), Eagle Bancorp Inc. (Nasdaq:EGBN), RHI Entertainment Inc. (Nasdaq:RHIE), Green Bankshares Inc. (Nasdaq:GRNB) and Firstbank Corp. (Nasdaq:FBMI).

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).

WellCare Health Plans Inc. (Nasdaq:WCG), KV Pharmaceutical (Nasdaq:KV.A) and Oriental Financial Group Inc. (Nasdaq:OFG) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Fundtech Ltd. (Nasdaq:FNDT), Retalix Ltd. (Nasdaq:RTLX), Life Time Fitness Inc. (Nasdaq:LTM), RHI Entertainment Inc. (Nasdaq:RHIE), SI Financial Group Inc. (Nasdaq:SIFI) and Primoris Services Corp. (Nasdaq:PRIM).

The Russell 2000 (NYSE:IWM) pushed higher Friday, shrugging off dreadful data on the nation’s employment picture as investors focused on finding bargains amid oversold conditions. Today’s small-cap gainers are Landamerica Financial (NYSE:LFG), Fuel Systems Solutions (Nasdaq:FSYS) and World Fuel Services (NYSE:INT).

Other Market Watch highlights today included:

• The Russell closed up 2.01% and is now down 34% for the year. Meanwhile, the Dow is off 33% in 2008 and the S&P 500 is down 37%.
• The monthly employment report showed a decline in non-farm payrolls of 240,000, above the original forecast for a loss of 180,000. 
• The unemployment rate jumped to a five-year high of 6.5%, which was way above the forecast for a rise to 6.3%. 
• The AMEX Pharmaceutical Index rose 4.1%, the tech-laden Nasdaq 100 was up 2.3% and the Energy Select Sector SPDR Fund was up 3.3%. 
• Crude oil prices tumbled to a 19-month low ahead of today’s session, but managed a very modest bounce into the weekend.
• Agriculture product companies, aluminum and coal stocks also were solid performers today, while financials lagged the overall move.
• Homebuilders, industrial REITS, wireless telecoms and diversified banks were among the worst performers today. 

Small Cap Gainers:

• Landamerica Financial Group Inc. (NYSE:LFG) which jumped 85% on news that the firm would be purchased.
• Fuel Systems Solutions Inc. (Nasdaq:FSYS) rode out the volatile wave in energy markets to a strong third-quarter result and the market embraced their . . .

Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend. Gains for commodity stocks and drugs shares helped offset weakness in financials. Today’s small-cap gainers are Luminex Corporation (Nasdaq:LMNX), Emergent BioSolutions (NYSE:EBS) and World Fuel Services (NYSE:INT).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund was up 2.9% at midday, outperforming the broad market indices.  
• Today holds an afternoon press conference by President-elect Obama, who is huddled with economic leaders in Chicago.  
• Financial shares were limping along today and automakers were in full retreat mode.  
• Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend.  

Small Cap Gainers:

• Luminex Corporation rallied 24% as the genetic analysis firm also received a lift from earnings news. See (Nasdaq:LMNX).  
• Emergent BioSolutions Q3 profit rises; revises FY08 earnings. Shares climb 18%. See (NYSE:EBS).
• World Fuel Services up 18% as Q3 profit soars on higher revenues. See (NYSE:INT). 
• AmeriCredit announces extension of offer to repurchase 1.75% convertible senior notes due 2023. Shares up 15%. See (NYSE:ACF).  
• Mirant 3Q earnings double on hedging gains, shares up 5%. See (NYSE:MIR).  


Small Cap Losers:

• RHI Entertainment Inc. slumped 27% as the made-for-television entertainment company released earnings results. See (RHIE).
• Talbots to sell J. Jill, pulls outlook; stock down over 20%. See (TLB).  
• Syniverse Holdings down 13% today following a downgrade by Robert W. Baird earlier this week. See (SVR).  
• Bio-Rad's Q3 revenues climb 30%, charges related to DiaMed acquisition cut into the firm’s profit for the quarter. Shares slump 11%. See (BIO).  

Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend. Gains for commodity stocks and drugs shares helped offset weakness in financials. At 12:44 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.05, or 1.22%, at 501.89.

The fact that the stock market was able to grind higher in the face of the highest unemployment rate in 14 years was a testament to the idea that most of the bad news on the economy has already been priced into the market collapse. Still, financial shares were limping along today and automakers were in full retreat mode as earnings for Ford Motor Co. (NYSE:F) and General Motors Corp. (NYSE:GM) was terrible and the companies are pushing for an emergency loan from the U.S. government.

The market might also be a little reluctant to press the downside following the worst two-day rout in stocks since 1987, thinking that the market was oversold into a weekend and ahead of an afternoon press conference by President-elect Obama, who is huddled with economic leaders in Chicago.

Crude oil prices edged higher, walking a tightrope between worries about demand amid a recession for their biggest customer and support from a dip in the U.S. dollar, which makes commodity goods more attractive on a pricing standpoint. The Energy Select Sector SPDR Fund was up 2.9% at midday, outperforming the broad market indices.

Individual stocks on the move today included Knot Inc. (Nasdaq:KNOT) which jumped nearly 30% as the media company that specialized in wedding plans and life planning reported decent quarterly results. Luminex Corporation (Nasdaq:LMNX) rallied 24% as the genetic analysis firm also received a lift from earnings news. On the downside, RHI Entertainment Inc. (Nasdaq:RHIE) slumped 27% as the made-for-television . . .

RHI Entertainment Inc. (Nasdaq:RHIE), Primeenergy Corp. (Nasdaq:PNRG) and CombiMatrix Corp. (Nasdaq:CBMX) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.      

Also included among the results: Peapack Gladstone Financial Corp. (Nasdaq:PGC), Applied Signal Technology Inc. (Nasdaq:APSG), Omega Flex Inc. (Nasdaq:OFLX), Thermadyne Holdings Corp. (Nasdaq:THMD), Cornell Companies Inc. (Nasdaq:CRN) and Integral System Inc. (Nasdaq:ISYS).      

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

www.rhitv.com
(Nasdaq:RHIE)
Scheduled for the week of June 16
$212.5 million estimated proceeds
$380.8 million estimated post-money valuation

It’s a story ripped from the headlines: scrappy company faces down worst IPO market in years and succeeds beyond its wildest dreams in a heartwarming tale of triumph over long odds. You’ll laugh, you’ll cry, but will you make money? If you watch Lifetime, you know RHI Entertainment. The company produces made-for-TV movies and miniseries, and then sells them on DVD after their network runs. It was originally owned by Hallmark, of greeting-card fame, and known as Hallmark Entertainment. In 2006, it was acquired by an investment group led by a father and son television production team, Robert Halmi, Sr. and Robert Halmi, Jr. They also acquired domestic DVD rights to the Hallmark Channel’s library, and they continue to make movies for the Hallmark Channel.

The company has since branched out beyond the Hallmark Channel to make and distribute programs for a range of other television outlets including pay-per-view and direct-to-video options. It plans to have 40 new productions in 2008 alone. The value of the deal is in the assets, though, because RHI is losing money on a net income and cash flow from operating activities basis; it had positive EBITDA in 2007 but not in 2006. Much of this is due to interest expense, $38.3 million in 2007, which should be eliminated after this transaction. With the interest expense gone, RHI should post solid profits. Like other entertainment companies, RHI is allowed to capitalize its production costs, though, which may lead to some overstatement of profits. The business has to be valued on a cash-flow basis by an investor who feels comfortable . . .