Tag - SLXP

Salix Pharmaceuticals Ltd. (Nasdaq:SLXP) rose by 18% this morning after the company announced positive clinical trial results from a study of Rifaximin, its potential treatment for irritable bowel syndrome.

The Orlando, Fla.-based pharmaceutical company said at 9:00 am ET that symptoms of patients treated with Rifaximin improved more than in patients treated with a placebo.

By midday the stock is at $6.74, up $1.06 from Friday’s close. Shares have traded as low as $5.34 and as high as $13.33 in the past year.

For detailed price information and news stories on Salix Pharmaceuticals, click SLXP.

Sciele Pharma Inc. (Nasdaq:SCRX), Isle of Capri Casinos Inc. (Nasdaq:ISLE) and Ameristar Casinos Inc. (Nasdaq:ASCA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Odyssey Healthcare Inc. (Nasdaq:ODSY), Progenics Pharmaceuticals Inc. (Nasdaq:PGNX), Avid Technology Inc. (Nasdaq:AVID), Salix Pharmaceuticals Ltd. (Nasdaq:SLXP), Morgans Hotel Group Co. (Nasdaq:MHGC) and CV Therapeutics Inc. (Nasdaq:CVTX).

Here are the most actively traded companies among small caps:

Salix Pharm (Nasdaq:SLXP), Fundtech Ltd. (Nasdaq:FNDT) and Crocs Inc. (Nasdaq:CROX) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.        

Also included among the results: China Sunergy Co Ltd. (Nasdaq:CSUN), Dyax Corp. (Nasdaq:DYAX), TeleCommunication Systems Inc. (Nasdaq:TSYS), Cogo Group Inc. (Nasdaq:COGO), GeoResources Inc. (Nasdaq:GEOI) and ArcSight Inc. (Nasdaq:ARST).  

Here are the most actively traded companies among small caps:  

PMFG Inc. (Nasdaq:PMFG), North American Galvanizing & Coatings Inc. (Nasdaq:NGA) and Yucheng Technologies Ltd. (Nasdaq:YTEC) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.      

Also included among the results: Alto Palermo (Nasdaq:APSA), LECG Corp.(Nasdaq:XPRT), Salix Pharm (Nasdaq:SLXP), Encore Bancshares Inc (Nasdaq:EBTX), Berkshire Bancorp Inc. (Nasdaq:BERK) and TeleCommunication Systems Inc. (Nasdaq:TSYS).         

Here are the biggest percentage losers among small caps:    

Salix Pharmaceuticals Ltd.’s (Nasdaq:SLXP) stock slipped by 12% after the firm announced before the opening this morning plans to raise $50 million by offering convertible senior notes.

The Raleigh, N.C.-based drug manufacturer said it will use the money in part to fund potential product acquisition or in-licensing opportunities. Some money also will be used for general corporate purposes and to develop product candidates.

Salix, which develops and markets prescription pharmaceutical drugs for the treatment of gastrointestinal diseases, has taken a hit this year since competitors starting selling a generic version of inflammatory bowel disease treatment Colazal, which was previously Salix’s best-selling product.

At mid-day, Salix is at $7.84, down $1.06 from Friday’s close. Shares have ranged between $5.40 and $14.26 in the past 52 weeks.

For detailed price information and news stories on Salix, click SLXP.

PharmaNet Development Group Inc. (Nasdaq:PDGI), Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) and Shutterfly, Inc. (Nasdaq:SFLY) are among the most actively traded companies in Thursday's pre-market trading among those with market capitalizations under $750 million.

Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB), CV Therapeutics, Inc. (Nasdaq:CVTX) and InterMune, Inc. (Nasdaq:ITMN) are also among the most actively traded small-cap companies in pre-market trading.

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

Small-cap stocks collapsed Friday, gapping lower on the opening and never looking back. In the end, the Russell 2000 closed down 19.54, or 2.77% at 686.18, the third-largest point decline of the year. In today’s trading, chart support comes in at 683, 680 and 675. A breach of the latter could see a support “vacuum” down to 660 toward the 2008 bottom of 650. Meanwhile, resistance is pegged at 694, 701 and 712.

This week is a huge one for economic data, and things start off with a bang this morning as the market will react to the ISM Manufacturing Survey at 10:00 a.m. ET and throughout the day to various vehicle sales numbers.

The Russell 2000 (NYSE: IWM) futures are falling and the small-cap index will open with a drop despite an interest rate cut.

The U.S. Federal Reserve has decided to lower the target for the federal funds rate to 3.50% from 4.25% to calm jittery financial markets and keep the economy from falling into a recession.

“The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth,” the Fed said in a statement. “While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households.”

The fact that the U.S. central bank has decided to lower the federal funds rate between its regularly scheduled meetings is a sign of the serious economic and financial problems we’re seeing.

The Fed has not moved to lower its target rate between meetings since September 2001, in the wake of the terrorist attacks. Its next regularly scheduled meeting is on Jan. 29 and 30.

The Russell 2000 (NYSE: IWM) lost ground today following news of an unexpected downsizing in U.S. manufacturing in November. The small-cap index fell 12.48 points, or 1.63%, to 753.55. The Dow Jones Industrial Average (INDU) dropped 220.86 points, or 1.67%, to 13,043.96.

The first session of 2008 belonged to the bears following news that U.S. manufacturing unexpectedly shrank in December.

The Institute for Supply Management reported after that its manufacturing index fell to 47.7 in December, down from 50.8 in November and well below economists’ projections for a reading of 50.5. A level above 50 indicates an expansion.

The decline, which comes after 10 months of expansion, is due to a fall in new orders, production and exports. The data tell us that tighter lending conditions and the ongoing problems in the U.S. housing sector have taken their toll.

The numbers also renew fears that the slowing U.S. economy could tip into recession. Manufacturing comprises about 14% of gross domestic product.

Small-cap stocks started just above the flat line but dropped immediately after the report’s release at 10 a.m. ET.

Equities experience a short-lived bounce in the afternoon when the U.S. Federal Reserve released its minutes from the meeting on Dec. 11, when it decided to lower the target interest rate 0.25% to 4.25%.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will most likely open in positive territory, recovering from two days of losses.

Big name players are helping create a bullish mood this morning after news that analysts have raised their recommendations on computer hardware maker Hewlett-Packard Co. (Nasdaq: HPQ) and energy giant Chevron Corp. (NYSE: CVX).

Also contributing is Cisco Systems Inc. (Nasdaq: CSCO), after the internet communications company authorized additional stock repurchases valued at as much as $10 billion, raising the total amount to $62 billion.

In economic news, the U.S. Federal Reserve is scheduled to release data on industrial production in October minutes before the start of trading. Economists are expecting to see a small rise.

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:

• Canadian Solar Inc. (CSIQ), up 13% on news that is has signed a new contract to deliver solar power station projects in Spain.
• American Railcar Industries Inc. (ARII), up 11% on news billionaire Carl Icahn bought more shares.
• China Techfaith Wireless Communication Technology Ltd. (CNTF), up 7%.

Biggest percentage losers:

• Acacia Research-Acacia Technologies (ACTG), down 30% on news of a negative ruling in a patent infringement trial with Microsoft Corp. (MSFT).
• Zygo Corp. (ZIGO) down 7%.
• Salix Pharmaceuticals Ltd. (SLXP) down 6%.