Tag - RNIN

After plunging out of the gate this morning on hawkish comments from the Fed, small-cap stocks remained flat, fluctuating shallowly in and out of the red as crude oil gave back ground mid-session.

At 1:45 p.m. ET, the Russell 2000 (NYSE:IWM) was down 1.03, or 0.14%, to 734.22, while the Dow gained 67.49, 0.55%, to 12,347.81.

After climbing sharply higher earlier in the session, crude oil gave back some ground after sources in the Saudi Oil Ministry told CNBC that Saudi Arabia's oil output increased by almost 500,000 barrels per day this quarter. A barrel of crude oil was off $1.51 to $132.74 midday.

However, as crude has remained at heightened levels, Federal Reserve Chairman Ben Bernanke, addressed the threat of inflation, stating that the risk of a substantial downturn in the economy has eased and that the torrid incline in oil prices “has added to the upside risks to inflation and inflation expectations.”

“The Fed's comments clearly are meant to address a shift in their focus that reflects the massive run-up in oil and food prices,” said Andy Busch, foreign exchange strategist for BMO Capital Markets.

Traders interpreted the Fed’s remarks to mean a possible increase in interest rates, boosting the dollar. The greenback jumped to a three-month high against the yen and gained against the euro to around $1.5457 midday.

“So far, the Fed looks like they have influenced U.S. short-term rate expectations the most and therefore have brought the U.S. dollar back,” Busch said. “[The] market expects the Fed to raise rates 125 basis points over two years versus 75 basis points for the ECB.”

Although the central bank’s focus has turned to resisting “an erosion of longer-term inflation expectations,” Doug Roberts, author of the book Follow the Fed to Investment Success and chief investment strategist for ChannelCapitalResearch.com, says he doesn’t think hawkish comments necessarily lead to hawkish . . .

CompuCredit Corp (Nasdaq:CCRT), CMGI Inc (Nasdaq:CMGI) and Wireless Ronin Technologies Inc (Nasdaq:RNIN) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Synchronoss Technologies Inc (Nasdaq:SNCR), China Security & Surveillance Technology Inc (Nasdaq:CSR), Intervest Bancshares Corp (Nasdaq:IBCA), Palm Inc (Nasdaq:PALM), DrdGold Ltd(Nasdaq:DROOY) and SunLink Health Systems Inc (Nasdaq:SSY).

Here are the biggest percentage losers among small caps:

Shares of Wireless Ronin Technologies, Inc. (Nasdaq:RNIN) are losing ground in pre-market trading after the digital signage provider said late Monday that its chief financial officer and executive vice president, John Witham, has stepped down.

The Minneapolis-based company did not cite reasons for the executive’s departure, only saying that the firm’s current vice president and controller, Brian Anderson, will serve as interim CFO.

Shares lost 6.4%, or $0.45, to $6.54 in pre-market trading. For detailed price information and recent news stories about Wireless Ronin, click RNIN. 

Marchex, Inc. (Nasdaq: MCHX), Directed Electronics, Inc. (Nasdaq: DEIX) and Scientific Learning Corp. (Nasdaq: SCIL) are the biggest percentage losers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

Memphis, Tenn.-based Back Yard Burgers, Inc. (Nasdaq: BYBI) announced it has agree to be bought for $38 million. BBAC LLC, an investment partnership managed by Cherokee Advisors and C. Stephen Lynn, reported it will buy shares in Back Yard Burgers for $6.50 each in cash, a 29% premium above Friday’s closing price. The deal is expected to close by the third quarter starting Sept. 30.

Because O.I. Corp. (Nasdaq: OICO) believes its own shares are undervalued, the College Station, Texas-based company said it plans to repurchase 10%, or about 300,000, of its shares in the range of $13 to $14.75 per share.

Eden Prairie, Minn.-based Wireless Ronin Technologies, Inc. (Nasdaq: RNIN) announced Monday it has a service agreement to manage and maintain Reuters’ InfoPoint network for digital signs.

These are the biggest percentage gainers in Monday's trading among companies with market capitalizations under $500 million:

Phazar Corp. (Nasdaq: ANTP) announced Thursday evening that the company’s Antenna Products unit received a $0.9 million order from the Spanish telecom company Page Iberica S.A. The Madrid-based company ordered four Multiport Antenna Systems. Phazar said the order will be shipped in October for installation at a Spanish NATO site.

Sporting goods equipment maker Everlast Worldwide Inc. (Nasdaq: EVST) announced Friday morning it agreed to be acquired by Hidary Group for $26.50 a share, or more than $146 million, in cash. Hidary’s offer is a 30% premium over Everlast’s average closing price over the last month. The all-cash offer, which still has to be approved by Everlast’s shareholders, should make Everlast private by the third quarter ending Sept. 30, the company said.

Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) received a bullish mention Thursday evening by MSNBC pundit Jim Cramer. The Illinois, Ill.-based business provides dredging, marine construction and demolition services.

These are the biggest percentage gainers in Friday's trading among companies with market capitalizations under $500 million:

These are the biggest percentage losers among companies with market capitalizations under $500 million:

Shares of Las Vegas-based American Pacific Corp. (Nasdaq: APFC) are trading higher on news after Thursday’s close that the specialty chemicals manufacturer turned a profit during the first quarter of 2007.  The net income for the period ended March 31 was $0.02 per share, compared with a net loss of $0.36 a year earlier.  Analyst estimates were not available.  The stock has added $0.66, or 5%, to $13.50.

Shares of Wireless Ronin Technologies, Inc. (Nasdaq: RNIN) are moving down on news this morning that the Minneapolis-based company reported a first quarter net loss of $3.1 million, or $0.31 per share, compared with a net loss of $1.9 million, or $2.46 per share, in the first quarter of 2006.  Wall Street was expecting a net loss of $0.14 per share.  The stock is down $0.29, or 3%, to $8.91