Tag - RSYS

Savient Pharmaceuticals Inc. (Nasdaq:SVNT), Beverly National Corp. (Nasdaq:BNV) and United America Indemnity Ltd. (Nasdaq:INDM) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Digimarc Corp. (Nasdaq:DMRC), Matrixx Initiatives (Nasdaq:MTXX), Ames National Corp. (Nasdaq:ATLO), Ambassadors Group Inc. (Nasdaq:EPAX), RadiSys Corp. (Nasdaq:RSYS) and Badger Meter Inc. (Nasdaq:BMI).

RadiSys Corp. (Nasdaq:RSYS), Eagle Bulk Shipping Inc. (Nasdaq:EGLE) and Travelzoo Inc. (Nasdaq:TZOO) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: MWI Veterinary Supply Inc. (Nasdaq:MWIV), Excel Maritime Carriers Ltd. (Nasdaq:EXM), Genco Shipping & Trading Ltd. (Nasdaq:GNK), Middleburg Financial Corp. (Nasdaq:MBRG), Thomas & Betts Corp. (Nasdaq:TNB) and TBS International Ltd. (Nasdaq:TBSI).

Small-cap stocks hovered near steady levels in early trading, with pressure from weak corporate profit news countered by bargain hunting, overseas gains and a private employment report that wasn’t as bad as feared. Some of today’s small-cap gainers were RadiSys Corp. (Nasdaq:RSYS), Eagle Bulk Shipping Inc. (Nasdaq:EGLE) and Genco Shipping & Trading Ltd.  (NYSE:GNK).

Other Market Watch highlights today included:

• In overnight trading, commodity and mining stocks were on the defensive, possibly reflecting a nice rally in the U.S. dollar, which was up 1.4% against the euro this morning.  
• Crude oil prices were up modestly into the stock market open, pulled higher by talk of further production cuts out of OPEC.  
• Tech stocks, electronics makers and auto stocks were among the better performers in Asian trading overnight
• In overseas trading, European shares pushed higher despite disappointing December retail sales.

Small Cap Gainers:

• RadiSys Corp. gapped higher and jumped 23% as the communications networking firm got an earnings boost. See (Nasdaq:RSYS).  
• Bulk shippers were the percentage mover boards today; Eagle Bulk Shipping Inc. was up nearly 15%, Genco Shipping & Trading Ltd. was up 11%. See (Nasdaq:EGLE) and (NYSE:GNK). 
• Riverbed Technology Q4 profit beats Street; shares rise over 14% in pre-market. See (Nasdaq:RVBD).
• Illumina Q4 results beats Street, strong Q1, 2009 view. Shares climb 13% in pre-market. See (Nasdaq:ILMN).  

Small Cap Losers:

• Small-cap chip designer Rambus Inc. fell some 20% in extended trading Tuesday on news that a judge postponed a patent trial dispute. See (Nasdaq:RMBS).
• Littlefuse Inc. gapped lower and was off 13% as the industrial component maker took an earnings-related hit. See (Nasdaq:LFUS).  
• Computer network company Jack Henry & Associates posts 4% Q2 decline, sending shares down 10% in pre-market. See (Nasdaq:JKHY).  

Small-cap stocks hovered near steady levels in early trading, with pressure from weak corporate profit news countered by bargain hunting, overseas gains and a private employment report that wasn’t as bad as feared. At 9:52 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.26, or 0.06% at 452.64.

The ADP Employment Survey reflected a loss of 522,000 jobs from non-farm payrolls and projected the Labor Department report Friday would show a decline in jobs of 525,000, which was slightly above the median forecast of 500,000. That said, the market took the ADP figures in stride, with a “it could have been much worse” mentality in play. It’s worth noting that the ADP report was veering way offline for many months before they shifted methodology last month and got back on a tighter track with the Labor Department survey.

In overseas trading, European shares pushed higher despite disappointing December retail sales. The gains were a little dynamic in Asia, where Chinese shares climbed 2.7% as the government started to release funds for stimulus programs and Indonesia cut interest rates. Tech stocks, electronics makers and auto stocks were among the better performers in Asian trading overnight.

Here in the United States, much of the individual corporate profit news was gloomy this morning, including disappointments from The Walt Disney Co. (NYSE:DIS), Costco Wholesale Corp. (Nasdaq:COST) and Time Warner Inc. (NYSE:TWX). Shortly . . .

Brown Shoe Company Inc. (Nasdaq:BWS), TF Financial Corp. (Nasdaq:THRD) and OYO Geospace Corp. (Nasdaq:OYOG) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gladstone Commerical (Nasdaq:GOOD), RadiSys Corp. (Nasdaq:RSYS), Vivus Inc. (Nasdaq:VVUS), Century Aluminum Co. (Nasdaq:CENX), Hiland Partners LP (Nasdaq:HLND) and AmeriCredit Corp. (Nasdaq:ACF).

Here are the biggest percentage losers among small caps:

Shares of RadiSys Corporation (Nasdaq:RSYS) have gained 16% in today’s pre-market trading after reporting after Tuesday’s close it had narrowed its second-quarter losses. For the quarter ended June 30, the communications networking company’s net loss was $2.8 million, or $0.12 per share, compared with a net loss of $7.3 million, or $0.34 per share, for the same period a year earlier. Revenues were $97.6 million, up from $75.5 million a year ago.

The Hillsboro, Ore.-based company said the narrower loss was from strong demand in its wireless and IP media server products sector. Shares are at $12.15 at 9:25 a.m. ET, up $1.69 from Tuesday’s close. Shares have ranged from $8.02 to $17.48 during the past year.

As widely expected, the Fed trimmed the fed funds rate by 25 basis points to 2%. It is the central bank’s seventh consecutive cut in the key interest rate since September, when the Fed first began battling the credit tempest. The discount rate was similarly lowered by 25 basis points to 2.25%.

In justifying the decision, the Fed said economic activity remains weak because of subdued spending and a soft labor market. The Federal Open Market Committee voted 8-2 to bring its target rate to its lowest since December 2004.

Small caps treaded water briefly after the Fed decision, but are beginning to rise in afternoon trading. At 2:45 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.93, or 0.69%, at 723.86.

This morning, it was reported that the U.S. economy grew at a slothful 0.6%, just dodging negative growth — an “official” recession signal. GDP came in slightly better than the 0.5% economists had forecasted. While official definition of a recession definition is two consecutive quarters of negative GDP growth, the United States has experienced two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers grapple with tumbling housing values, rising energy and food costs and a soft labor market.

“Everyone has been finding holes in the positive GDP even before it came out and today's number showed much better consumer spending than what would think,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “However, this data didn't include much of the March numbers. We know . . .

Small-caps are continuing their upward assent midday, ahead of the Federal Reserve’s decision and after this morning’s GDP number was in positive territory.

At 1:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 5.01, or 0.70%, at 723.94, while the Dow had gained 117.4, or 0.91%, to 12,949.34.

The Federal Reserve’s Federal Open Market Committee two-day meeting concludes at 2:15 p.m. today in which the Fed is widely expected to trim the fed funds rate by 25 basis points. This would be the central bank’s seventh consecutive cut in the key interest rate since September when the Fed first began battling the credit tempest. Investors will pay close attention to the central bank’s commentary to see if the Fed will pause its monetary policy-loosening campaign to fend off inflation.

Much of today’s trading has been driven by the better-than-expected GDP number and corporate earnings.

This morning it was reported that the U.S. economy grew at a slothful 0.6%, just dodging negative growth — an “official” recession signal. GDP came in slightly better than the 0.5% economists had forecasted. While official definition of a recession definition is two consecutive quarters of negative GDP growth, the United States has experienced two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers grapple with tumbling housing values, rising energy and food costs and a soft labor market.

“Everyone has been finding holes in the positive GDP even before it came out and today's number showed much better consumer spending than what would think,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “However, this data didn't include much of the March numbers. We know . . .

Buffalo Wild Wings (Nasdaq:BWLD), RadiSys Corp. (Nasdaq:RSYS) and Lithia Motors, Inc. (NYSE:LAD) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Protection One, Inc. (Nasdaq:PONE),  Advanta Corp. (Nasdaq:ADVNB) and Sucampo Pharmaceuticals, Inc. (Nasdaq:SCMP) are also among the top small-cap percentage gainers.

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

Shares of RadiSys Corp. (Nasdaq:RSYS) are continuing to advance mid-morning after the computer system products developer reported first-quarter results after Tuesday’s close that trumped the consensus on Wall Street. The company reported that it broke-even for the quarter, while analysts’ had expected a $0.01 loss.

The better-than-expected results were fueled by higher revenues in its wireless and communications products businesses. First-quarter results also included $1.1 million of tax provisions for Canadian currency and statutory rate changes.

The Hillsboro, Ore.-based small cap also issued second-quarter guidance inline to above the consensus on Wall Street. 

Shares shot up 22%, or $1.74, to $9.85 at 11:29 a.m. ET. For detailed price information and recent news stories about RadiSys, click RSYS.

Small-cap stocks edged slightly higher this morning, bouncing off an overnight dip when this morning’s GDP report came in above expectations, and allowed investors skittish about a potential glut of recession headlines to breathe a sigh of relief. At 9:59 a.m. ET, the Russell 2000 (NYSE:IWM) was up 2.74, or 0.38%, at 721.66.

The Chicago Purchasing Manager’s Survey, out at 9:45 a.m. ET, was slightly above expectations at 48.3 and appeared to have very little impact on equity market trading.

After a recent lull in economic data, the numbers charge kicked into gear this morning, with GDP, ECI, Chicago Purchasing, and even ADP’s employment survey coming out. Although GDP was an important number, it’s just a warm-up for the FOMC announcement this afternoon. And just to prove the old axiom of “no rest for the weary,” the market will have to navigate through ISM Manufacturing numbers, Personal Income data and vehicle sales Thursday, then the big employment release Friday morning.

Let’s begin with the aforementioned GDP release. When it came out slightly better than forecast (up 0.6%), it missed the “official” recession gauge by being in positive territory (if you’re curious, the true official recession definition requires two consecutive negative-growth quarters). It’s worth noting that although GDP averted negative growth territory, we’ve still seen two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers deal with . . .

Digi International Inc. (Nasdaq:DGII), LCA-Vision Inc. (Nasdaq:LCAV) and G&K Services, Inc. (Nasdaq:GKSR) were among the new 52-week lows established during Tuesday's trading among companies with market capitalizations or values under $750 million.

RadiSys Corp. (Nasdaq:RSYS), United America Indemnity, Ltd. (Nasdaq:INDM) and Escalade, Inc. (Nasdaq:ESCA) were also among the 52-week small-cap lows.

Here are Tuesday's 52-week small-cap lows:

Shares of RadiSys Corp. (Nasdaq: RSYS) ended the day at a new 52-week low following news that the provider of embedded solutions for the communications networking market announced a first quarter 2008 outlook below Wall Street’s projections.

The Hillsboro, Ore.-based company reported after the close on Tuesday that it projects first-quarter results to be between a loss of $0.04 per share and a profit of $0.02 per share. Four analysts polled by Thomson Financial had forecasted net income of $0.05 per share.

Revenue for the first quarter, which ends on March 31, is projected between $75 million and $83 million, below the consensus estimate of $88.4 million.

“Our wireless business in the first quarter will increase year over year, but will be down from the record levels seen in the fourth quarter due to the acceleration of customer demand into the fourth quarter as well as first quarter seasonality,” said president and CEO Scott Grout in a statement.

Analyst Edward Jackson from financial services firm Cantor Fitzgerald reacted by downgrading RadiSys to “hold” from “buy” and lowering the stock’s 12-month target price to $12 from $16.

“We see little chance for a recovery in valuation until we are well into [the first quarter of 2008],” Jackson wrote in a research note.

The analyst is also concerned that RadiSys is too dependent on telecommunications giant Nokia Siemens. The Finland-based company accounted for 47% of RadiSys’ sales in the fourth quarter of fiscal 2007 and 40% of revenue in fiscal 2006.

“While the growth of business with Nokia Siemens has clearly benefited Radisys, it does increase the potential volatility of their revenue,” Jackson wrote.

The Russell 2000 (NYSE: IWM) bounced around but eventually posted a modest gain following news of strong U.S. job growth in October. The small-cap index added 2.60 points, or 0.33%, to 797.78. The Dow Jones Industrial Average (INDU) gained 27.23 points, or 0.20%, to 13,595.10.

On a year-to-date basis, the Russell 2000 has increased 1.32%, while the Dow has added 8.98% and the S&P 500 has gained 6.57%.

Labor markets are tight and job growth is stronger than expected, the U.S. Labor Department reported this morning. Non-farm payrolls increased 166,000 in October, more than double the projected rise of 80,000. That’s a sign that the U.S. economy will most likely avoid recession. Payrolls increased a downwardly adjusted increase of 96,000 in September.

The unemployment rate stayed at 4.7%.

“The October employment report showed unexpected strength in the labor market, but largely on account of services,” said Arun Raha, vice president of Economic Research and Consulting for the North American operations of reinsurance company Swiss Re, in an email. “However, the overall economy remains tentative given the weakness in the housing market and high energy prices.”

The jobs report also showed that average hourly earnings increased $0.03, or 0.2%, to $17.58 during October. That’s 3.8% above the level a year ago, suggesting that the tight labor market is not pushing up inflation.

Stocks opened with solid gains, but the bullish mood was short-lived as investors turned their attention to an article in The Wall Street Journal that claimed that Merrill Lynch & Co. Inc. (NYSE: MER) has made deals with hedge funds to postpone when it records losses due to bets made on securities backed by subprime mortgages. The New York-based financial services giant may have to write down $10 billion in losses, according to the article.

The Russell 2000 (NYSE: IWM) is moving erratically this afternoon as trading is choppy halfway through the session. At 1:23 p.m. ET, the small-cap index had added 2.45 points, or 0.31%, to 797.63. The Dow Jones Industrial Average (INDU) was down 10 points, or 0.07%, to 13,557.87.

Small-cap stocks went on a rollercoaster ride during the first half of today’s session as investors reacted to both bullish and bearish news.

The bulls appeared first, encouraged by news before the opening that non-farm payrolls increased 166,000 in October, according to the U.S. Labor Department. That’s more than double the projected rise of 80,000, a sign that the labor market remains tight and that the U.S. economy will most likely avoid recession. Payrolls increased a downwardly adjusted increase of 96,000 in September.

The unemployment rate stayed at 4.7%.

But the bulls relished for just a few minutes before yielding the floor to the bears.

Investors turned their attention to an article in The Wall Street Journal that claims that Merrill Lynch & Co. Inc. (NYSE: MER) has made deals with hedge funds to postpone when it records losses due to bets made on securities backed by subprime mortgages. The New York-based financial services giant may have to write down $10 billion in losses.

News of the article, which was published before the start of trading, spooked investors and spread fears concerning the extent of damage from this summer’s credit squeeze. Financial stocks immediately took a hit and dragged down the rest.

Shares of RadiSys Corp. (Nasdaq: RSYS) are soaring on news after the close on Thursday that the maker of embedded telecommunications technology posted third-quarter earnings that beat Wall Street’s projections in spite of a decline.
 
Net income for the three months ended Sept. 30 was $2.8 million, or $0.11 per share, above analysts’ projected earnings of $0.01 per share. The Hillsboro, Ore.-based company had a profit of $4.6 million, or $0.18 per share, during the same quarter in 2006.

Revenues came to $83.6 million, 8.4% above the projected $77.12 million and a rise of 2.7% compared with revenues of $81.4 million a year earlier.

“I am pleased with our results in the third quarter,” said president and CEO Scott Grout in a statement. “We’ve also seen continued strength in our design win performance over the past two quarters.”

Grout said that RadiSys was awarded business in applications such as medical imaging, network security, test and measurement and military. During the third quarter, the company also acquired certain business assets from Intel Corp. (Nasdaq: INTC).

Looking to the future, RadiSys forecast that its fourth quarter revenues to be between $92 and $98 million, for a net income in the range between $0.11 per share and $0.15 per share. Five analysts polled by Thomson Financial were calling for revenues of $83.55 million and a net income of $0.05 per share. 

At 12:10 p.m. ET, shares of RadiSys (RSYS) were up $3.24, or 24%, to $16.83. The 52-week high is $18.73, established on Nov. 14, 2006. The 52-week low of $10.50 was set on Aug. 23.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are in negative territory despite news of a better-than-expected October jobs report.

At 10:28 a.m. ET, the small-cap index had lost 3.69 points, or 0.46%, to 791.49. The Dow was down 51.21 points, or 0.38%, to 13,516.66.

Non-farm payrolls increased 166,000 in October, compared with a downwardly adjusted increase of 96,000 in September, the U.S. Labor Department announced before the start of trading. That’s more than double the projected rise of 80,000 and a sign that the labor market remains tight and that the U.S. economy will most likely avoid recession.

The unemployment rate is unchanged at 4.7%.

The surprisingly strong jobs report makes it less likely that the U.S. Federal Reserve will move to lower the target interest rate during the remainder of 2007.

The jobs report also showed that average hourly earnings increased $0.03, or 0.2%, to $17.58 during October. That’s a rise of 3.8% from one year ago, suggesting that the tight labor market is not fueling inflation by putting too much upward pressure on wages.

The small-cap futures were logically higher and stocks opened in positive territory.

But the bullish sentiment did not last long, with the financial sector as the catalyst for the negative change.

The Russell 2000 (NYSE: IWM) futures are higher on news of an unexpectedly strong October jobs report.

Non-farm payrolls increased 166,000 in October, the U.S. Labor Department reported this morning. That’s significantly above the projected increase of between 80,000 and 90,000 and a welcome sign that the labor market remains strong despite problems in the housing sector. Payrolls rose 96,000 in September.

The unemployment rate is holding steady at 4.7%.

Elsewhere, investors will also be paying attention to numbers on factory orders for September, which will be released by the U.S. Census Bureau at 10 a.m. ET. Economists are expecting a slight decline.

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:

• RadiSys Corp. (RSYS), up 21% on news of a narrower third-quarter loss.
• Vanda Pharmaceuticals Inc. (VNDA), up 19% on news it said it no longer intends to offer convertible senior notes.
• GB&T Bancshares Inc. (GBTB), up 15% on news it is being acquired by SunTrust Banks, Inc. (STI).

Biggest percentage losers:

• Glu Mobile Inc. (GLUU), down 24% on news of a third-quarter net loss.
• Universal Electronics Inc. (UEIC), down 12% despite news of a solid third-quarter.
• Trump Entertainment Resorts, Inc. (TRMP) down 12% despite news of a higher third-quarter profit.

The Russell 2000 (NYSE: IWM) led a mid-session rally that lifted stocks into positive territory, reversing a bearish morning. The small-cap index gained 11.29 points, or 1.41%, to 810.08. The Dow Jones Industrial Average (INDU) added 44.95 points, or 0.33%, to 13,566.97.

On a year-to-date basis, the Russell 2000 has increased 2.88%, while the Dow has added 8.76%.

Small-cap futures were pointing south and stocks opened in the red on news of an economic slowdown. The finance ministers and central bankers from the G7, the world’s top seven industrialized countries, said over the weekend that U.S. economic growth is in for a slowdown due to tighter credit, the housing slump and the high price of oil.

Just before 10 a.m. ET the Russell 2000 had slipped below a level of 790, but then managed to tentatively approach the flat line before finally settling on an upward trajectory at around 12 p.m. ET. The Dow was more volatile and without a clear direction until just before the close.

Helping the bulls was the technology sector, as investors saw a buying opportunity on expectations of strong third-quarter earnings ahead of the release of Apple Inc.’s (Nasdaq: AAPL) third-quarter numbers after the closing.

Small-cap software firm Synplicity Inc. (Nasdaq: SYNP) defied those projections, reporting a slight decline in its third-quarter profit.

The Russell 2000 (NYSE: IWM) is rising despite investors’ fears of a U.S. economic slowdown.

At 10:30 a.m. ET, the small-cap index had added 1.17 points, or 0.15%, to 799.96. The Dow Jones Industrial Average (INDU) was off 36.90 points, or 0.27%, to 13,485.12.

Small futures were down and stocks across the board fell this morning as investors reacted to concerns of a slowing United States economy.

News of an economic slowdown is a major cause of the generally bearish mood this morning, with finance ministers and central bankers from the G7, the world’s top seven industrialized countries, saying over the weekend that U.S. economic growth is in for a slowdown due to tighter credit, the housing slump and the high price of oil.

Small and big caps fell hard on Friday after corporate heavyweights missed earnings expectations, spreading fears about the negative effects of the meltdown in the subprime mortgage sector and the stagnation in the U.S housing sector.

Thus far this morning small caps are faring better than their bigger brothers, with the Russell 2000 index managing to rise above the flat line shortly after 10 a.m. ET.
Overseas, Japan’s Nikkei 225 shed 2.2%, while London’s FTSE 100 fell 1.5%.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Radiation Therapy Services Inc. (RTSX), up 43% on news it is being purchased by a private equity firm.
• RadiSys Corp. (RSYS), up 16% on news of an analyst upgrade.
• Cirrus Logic Inc. (CRUS), up 7%.

Biggest percentage losers:

• Catalyst Semiconductor Inc. (CATS), down 14%. An analyst contacted for comment did not have an explanation for the stocks’ movement.
• Silicom Ltd. (SILC), down 16%.
• United PanAm Financial Corp. (UPFC), down 11% on news of a decline in third-quarter profit.

Shares in Bioenvision, Inc. (Nasdaq: BIVN) are trading heavily in pre-market activity on news the New York City-based biopharmaceutical company agreed to be acquired by Genzyme Corp. (Nasdaq: GENZ). Genzyme Corp. announced Tuesday morning it agreed to buy Bioenvision for $5.60 per share, or approximately $345 million in cash. The offer is 6.7% above Friday’s closing price, but only $0.01 above Tuesday’s closing price. By purchasing Bioenvision, Genzyme will gain exclusive rights to the leukemia drug clofarabine. Genzyme said in a statement it is looking to broaden the use of clofarabine, which is used to treat children with acute lymphoblastic leukemia who have had relapses or failed other treatment.

In pre-market trading, shares in Stratagene Corp. (Nasdaq: STGN) are down $0.01 to $10.84 on Tuesday evening news the company received a notice of a writ of summons filed by Applera Corp. (Nasdaq: ABI). Applera, the Norwalk, Conn.-based biotechnology company, alleges Stratagene, the La Jolla-Calif.-based biotechnology company, infringed upon Applera’s patents in The Netherlands, France and other European countries, according to StreetInsider.com.

Cell Therapeutics, Inc. (Nasdaq: CTIC) shares are down $0.10 to $4.92 in pre-market trading. The Seattle-based developer of cancer-fighting drugs announced after the close of trading on Tuesday it will be making a presentation about the lung cancer drug Xyotax at the 43rd American Society of Clinical Oncology Annual Meeting, being held June 1-5 in Chicago.

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