Tag - SIRT

Bovie Medical Corp. (AMEX:BVX), ZOLL Medical Corp. (Nasdaq:ZOLL) and Jinpan International Ltd. (AMEX:JST) were among the new 52-week highs established during Wednesday's trading among companies with market capitalizations or values under $750 million.

eResearch Technology, Inc. (Nasdaq:ERES), Quaker Chemical Corp. (NYSE:KWR) and Sirtris Pharmaceuticals Inc. (Nasdaq:SIRT) were also among the 52-week small-cap highs.

Here are Wednesday's 52-week small-cap highs:

Stocks managed to eek out gains for the first day after two straight sessions of red, as investors shrugged off Ambac Financial Group Inc.'s (NYSE:ABK) lackluster outlook and embraced better-than-expected results from a range of technology companies.

The Russell 2000 (NYSE:IWM) ended the day up 4.40 points, or 0.66%, to a level of 708.11, while the Dow gained 42.99 points, or 0.34%, to a level of 12763.22.

Trading was choppy for the day as investors digested a slew of earnings news from technology, industrial, tobacco, banks and commodity producers.

A large percentage advance was registered early today in Sirtris Pharmaceuticals (Nasdaq:SIRT), with the stock up a whopping 82% on news that GlaxoSmithKline (NYSE:GSK) would buy the company for $720 million . . .

Sirtris Pharmaceuticals Inc. (Nasdaq:SIRT), Zoll Medical Corp. (Nasdaq:ZOLL) and Green Bankshares, Inc. (Nasdaq:GRNB) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Silicon Graphics, Inc. (Nasdaq:SGIC), Anadigics, Inc. (Nasdaq:ANAD) and SenoRx, Inc. (Nasdaq:SENO) are also among the top small-cap percentage gainers.

Here are Wednesday's biggest percentage gainers among small caps

Small-cap stocks are slightly higher after fluctuating during morning trading. At 11:37 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.1, or 0.72%, at 708.81, as the market trimmed away opening gains in choppy action.

A large percentage advance was registered early today in Sirtris Pharmaceuticals (Nasdaq:SIRT), with the stock up a whopping 82% on heavy volume on news that GlaxoSmithKline (NYSE:GSK) would but the company for $720 million in cash. ANADIGICS Inc. (Nasdaq:ANAD) was up 24% following earnings results yesterday, and Silicon Graphics (Nasdaq:SGIC) was up about 23% after a heavy sell-off on Tuesday.

On the downside, Daktronics (Nasdaq:DAKT) was down 23% after sloppy earnings. Buckeye Technologies Inc. (NYSE:BKI) was down 22% after the maker of cellulose-based specialty products cut its third-quarter earnings forecast to below Wall Street expectations. Rimage Corp. (Nasdaq:RIMG) was down 21% after releasing . . .

Small-cap stocks opened modestly higher after a see-saw overnight session. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.26, or 0.04%, at 703.45, as the market trimmed away opening gains in choppy action. Stability in the foreign exchange market, a decent batch of overnight earnings and mild short profit-taking provided mild support for stocks but the market appeared to be searching for a more dynamic directional bias this morning.

The U.S. dollar was up modestly at the beginning of U.S. trading and crude oil was down a couple bucks off Tuesday’s record high, which may have prompted a mild sigh of relief that the moves weren’t immediately extended. Still, the issue of a sluggish economy, coupled with rising food and energy costs, remains a major roadblock for equity market bulls. A USA Today poll said that rising food costs were a “significant” worry for Americans, with 73% of respondents citing higher grocery bills as a concern.

The market has seen quite a bit of daily volatility in recent days, with percentage moves in the 2% or more range every other day for six sessions. If that pattern holds true today, then this will be the “quiet” day on the rollercoaster ride. From a charting standpoint, the Russell has support today near 700, 695 and then a window . . .

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $50 million and $750 million:

Biggest percentage gainers:

• Sirtris Pharmaceuticals Inc.(Nasdaq:SIRT), up 82% on news that it will be acquired by GlaxoSmithKline for $720 million.

• Green Bankshares, Inc. (Nasdaq:GRNB), up 14% on news that the bank reported first-quarter results that substantially beat the Street.

• China Finance Online Co. Ltd. (Nasdaq:JRJC), up 2%.

Biggest percentage losers:

• Wavecom S.A. (Nasdaq:WVCM) down 17%, on news that it swung to a net loss in the first quarter, while revenue declined 21%.

• Innovative Solutions & Support Inc. (Nasdaq:ISSC), down 14% on disappointing second-quarter results that clocked in below the Street.

• WebMD Health Corp. (Nasdaq:WBMD), down 8%, on lowered guidance for 2008.

Sirtris Pharmaceuticals Inc. (Nasdaq:SIRT), P.F. Chang's China Bistro (Nasdaq:PFCB) and Anadigics, Inc. (Nasdaq:ANAD) are among the most actively traded companies in Wednesday's pre-market trading among those with market capitalizations under $750 million.

YRC Worldwide Inc. (Nasdaq:YRCW), Packeteer, Inc. (Nasdaq:PKTR) and FuelCell Energy, Inc. (Nasdaq:FCEL) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Wednesday's pre-market trading:

Shares of Sirtris Pharmaceuticals Inc.(Nasdaq:SIRT) are rocketing in pre-market trading after the biopharmaceutical company said after Tuesday’s close that it will be acquired by healthcare goliath GlaxoSmithKline (NYSE:GSK) for approximately $720 million through a cash tender offer of $22.50 per share.

Shares soared 82%, or $9.98, to $22.21 in pre-market trading. For detailed price information and recent news stories about Sirtris Pharmaceuticals, click SIRT. 

Bette Davis once said “old age is no place for sissies,” and to a degree, she was right. Old age not only brings wrinkles, but serious diseases such as Alzheimer’s and diabetes. Two drug companies that want to make the transition into your golden years a bit more tolerable are Transition Therapeutics Inc. (Nasdaq:TTHI) and Sirtris Pharmaceuticals Inc. (Nasdaq:SIRT).

Both companies have ample cash for funding further development efforts and have made noteworthy progress over the last year advancing lead compounds. While Transition and Sirtris are likely several years away from commercial sales, their drug candidates address huge, growing markets, estimated at hundreds of millions of patients worldwide, and have significant future revenue potential. 

Transition is developing novel drugs for treating Alzheimer’s disease and Type 2 diabetes. Its lead compound, ELND005, for the treatment of Alzheimer’s disease, works by breaking down neurotoxic fibrils in the brain and allowing certain peptides to clear the body before they can form plaque. Alzheimer’s disease is the fourth leading cause of death among U.S. adults and has no cure; it begins with memory loss and eventually progresses to overall loss of cognitive function. Most Alzheimer’s patients die within eight years of diagnosis. More than 30 million people worldwide currently suffer from the disease and their numbers are expected to increase dramatically as the number of seniors grows.

The company is partnering with Elan Corporation (NYSE:ELN) to develop and commercialize ELND005. Phase II clinical trials of the drug involving some 340 patients with mild to moderate Alzheimer’s disease began last December and are expected to last approximately 18 months. To help fund the trials, Transition received milestone payments from Elan totaling $7.5 million last October and $5 million this January.

Transition is also developing TT-223 for the treatment of Type 2 diabetes. TT-223 works by regenerating the body’s insulin-producing cells. Diabetes is the world’s fastest-growing disease; there are more than 200 million diabetics worldwide and it is estimated one in 10 patients will eventually die from complications of the disease. Type 2 diabetes accounts for 90% of all cases and usually develops in adulthood. Transition is partnering with Eli Lilly & Co. (NYSE:LLY) to develop and . . .

The Russell 2000 (NYSE: IWM) futures are rising and the small-cap index will likely open in positive territory.

Small-cap stocks are ready to begin trading on a bullish note for the second consecutive session, while investors await data on pending November U.S. home sales. The numbers will be released shortly after the opening.

If KB Home is any indication, the U.S. housing market continues to agonize. The Los Angeles, Calif.-based builder of single-family homes reported this morning that its fiscal fourth-quarter loss was $772.7 million, or $9.99 per share, compared with a loss of $49.6 million, or $0.64 per share, a year ago.

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:

• Sirtris Pharmaceuticals, Inc. (SIRT), up 14% on news of positive results from a clinical study of a diabetes drug.
• Newport Corp. (NEWP), up 7% on news that it expects fourth-quarter earnings above its previous forecast.
• Websense Inc. (WBSN), up 6% to on news it expects to beat its previously released fourth-quarter revenue projections.

Biggest percentage losers:

• ChemGenex Pharmaceuticals Ltd. (CXSP), down 11%.
• Hill International, Inc. (HINT), down 4% on news of a joint venture with an investment management firm.
• The Dress Barn, Inc. (DBRN), down 3%.

The Russell 2000 (NYSE: IWM) managed just a modest win today despite a strong start on speculation of an imminent interest rate cut. The small-cap index added 1.71 points, or 0.22%, to 767.77. The Dow Jones Industrial Average (INDU) moved up 59.99 points, or 0.45%, to 13,371.72.

On a year-to-date basis, the Russell 2000 has lost 2.50%, while the Dow has advanced 7.19% and the S&P 500 is up 4.56%.

The day’s economic news was decidedly negative, with reports showing that Americans’ income and consumption growth slowed while spending on construction declined more than expected.

The U.S. Commerce Department reported that consumption increased 0.2% in October, below the projected 0.3%. Consumption increased 0.3% in September. That could be a sign that American consumers have decided to curtail spending due to higher energy prices, tighter credit and the ongoing slump in the housing sector.

October personal income added 0.2%, below economists’ expectations and half the 0.4% rise it booked in September.

The housing sector also contributed bleak news. The U.S. Census Bureau announced that construction spending for October fell a greater-than-expected 0.8%. Predictably, residential construction led the way down, dropping 2% from the level in September and 15.8% from the level a year ago.

On a year-to-date basis, construction spending has amounted to $977 billion, 2.8% below the $1,005.3 billion recorded during the first ten months of 2006.

Nevertheless, stocks opened in positive territory as investors speculated that U.S. Federal Reserve will cut its target interest rate when it meets on Dec. 11.

The Russell 2000 (NYSE: IWM) is posting strong gains as investors speculate that the U.S. Federal Reserve will lower interest rates in December.

At 10:50 a.m. ET, the small-cap index had added 8.95 points, or 1.17%, to 775.01. The Dow Jones Industrial Average (INDU) was up 110.55 points, or 0.83%, to 13,422.28.

The bulls are dominating Wall Street as investors speculate that the U.S. Federal Reserve will cut its target interest rate when it meets on Dec. 11. Fueling the speculation is a speech by Chairman Ben Bernanke after the close on Thursday, during which he told the Charlotte Chamber of Commerce that economic uncertainty has increased due to turbulence in financial markets and the Fed must remain alert.

On Oct. 31, the Fed lowered the federal funds rate, the rate at which commercial banks make overnight loans to each other, to 4.50% from 4.75%.

In economic news, the U.S. Commerce Department reported that consumption increased 0.2% in October. Economists were projecting a rise of 0.3%, the same as September’s increase.

With consumption making up about 70% of gross domestic product, a slowdown would spell trouble for the economy. Many observers have been predicting that American consumers will pull back in the face of higher energy prices, tighter credit and the seemingly never ending slump in the housing sector.

The Russell 2000 (NYSE: IWM) futures are a whisker below the closing level on Wednesday and the index will likely open in negative territory.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported. That’s an upward revision from the preliminary figure of 3.9% and represents the strongest quarterly pace since 2003.

However, consumer spending increased a less-than-expected 2.7%, a sign that American consumers are getting tired in the face of stagnating home prices and high energy costs. Consumption is about 70% of gross domestic product.

The price of oil has added about $2 to above $92 a barrel following news of a fire at a pipeline carrying crude oil from Canada to the U.S. Midwest.

Investors will be paying attention to a report from the U.S. Census Bureau on new home sales in October. The numbers will be released at 10 a.m. ET, with economists expecting to see a 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:

• Solarfun Power Holdings Co. Ltd. (SOLF), up 23% on news of a rise in third-quarter profit.
• Luna Innovations Inc. (LUNA), up 13% on news it has been awarded a grant from the National Heart, Lung, and Blood Institute.
• Sirtris Pharmaceuticals, Inc. (SIRT), up 9%.

Biggest percentage losers:

• First United Corp. (FUNC), down 49%.
• Geron Corp. (GERN) down 9%.
• Jos. A. Bank Clothiers, Inc. (JOSB) down 2%.

Ascent Solar Technologies, Inc. (Nasdaq: ASTI), American Railcar Industries, Inc. (Nasdaq: ARII) and ARGON ST, Inc. (Nasdaq: STST) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $750 million:

China Sunergy Co., Ltd. (Nasdaq: CSUN), SUMMER INFANT INC (Nasdaq: SUMRU) and Gouverneur Bancorp, Inc. (AMEX: GOV) 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:

Sirtris Pharmaceuticals Inc. (Nasdaq: SIRT) are up after the company announced the publication of a study by Sirtris and Harvard University scientists that reveals a new mechanism that could slow aging. The study, published in the medical journal “Cell,” studied the activation of enzymes that could protect against cell damage.

The study suggested that a low-calorie diet—or a pill that could mimic the effects—could activate life-extending enzymes.

“These findings broaden the potential of Sirtris’ drug discovery platform and intellectual property focused on sirtuin modulators to treat a number of diseases of aging such as metabolic, mitochondrial, inflammatory and neurological disorders, and cancer,” CEO Christoph Westphal said in a statement.

After publication of the study, investment firm Rodman & Renshaw reaffirmed its "outperform" rating of Sirtris with an $18 price target.

In afternoon trading, SIRT shares are up 11.03%, or $1.60, at $16.10. Over the last 52 weeks, shares have ranged from $9.81 to $16.47.

AeroCentury Corp. (AMEX: ACY) shares are down after two of the company’s directors reported in SEC filings today and Wednesday that they disposed of 770 shares.

Arrowhead Research Corp. (Nasdaq: ARWR) shares are down more than 5% after the biotech company announced Friday morning that interim Phase I data had been published on its anti-cancer drug IT-101. The data was published in the 2007 American Society for Clinical Oncology Proceedings. In the article, the authors wrote that “the stable disease rate, although not yet conclusive, is consistent with promising efficacy.”

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

The following were the most actively traded companies in Wednesday's trading among those with market capitalizations under $500 million:

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

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