Tag - SNHY

NN Inc. (Nasdaq:NNBR), Graham Corp. (Nasdaq:GHM) and TNS Inc. (Nasdaq:TNS) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: iPCS Inc. (Nasdaq:IPCS), Sauer Danfoss Inc. (Nasdaq:SHS), Kenexa Corp. (Nasdaq:KNXA), Sun Hydraulics Corp. (Nasdaq:SNHY), Orient Express Hotels Ltd. (Nasdaq:OEH) and Headwaters Inc. (Nasdaq:HW).

Here are the biggest percentage losers among small caps:

Companies that manufacture drilling equipment are gushing earnings because of drilling activity fueled by record oil prices. T-3 Energy Services, Inc. (NASDAQ:TTES) manufactures so-called blowout preventers (BOPs) used on wells to prevent disasters. Circor International (NYSE:CIR) produces a variety of valves used on oil and gas wells and pipelines. 

T-3 recently shifted its focus from rebuilding and servicing other companies’ equipment to manufacturing its own equipment. This strategy shift was in response to customer requests. Its drilling customers desperately needed more subsea blowout preventers but were experiencing lengthy delays on new orders. BOPs are car-sized valves installed on wellheads that instantly seal off the well when excessive pressure is detected. T-3 added these devices to its product line last year by acquiring Energy Equipment and HP&T Products, two related companies that manufacture deep sea BOPs and related equipment. These acquisitions gave T-3 access to new technologies and markets and manufacturing capabilities at 21 locations across North America.

The company is benefiting from robust demand for its blowout preventers. Sales grew 33% last year to $217.4 million, from $163.1 million in 2006, while net income jumped 40% year-over-year to $25.3 million, or $2.15 per share, from $18.1 million, or $1.71 per share. With drilling activity on the rise, demand for blowout preventers continues to expand. China and Russia are expected to deploy 200 new drilling rigs per year over the next several years, and an additional 149 new offshore rigs are scheduled for delivery between 2008 and 2011...

MedQuist Inc (Nasdaq:MEDQ), Global Industries Ltd (Nasdaq:GLBL) and Rackable Systems Inc (Nasdaq:RACK) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Otter Tail Ord Shs (Nasdaq:OTTR), Sun Hydraulics Corp (Nasdaq:SNHY), Fortress Investment Group LLC (Nasdaq:FIG), A Power Energy Generation Systems Ltd (Nasdaq:APWR), Colfax Corp (Nasdaq:CFX) and I-Flow Corp (Nasdaq:IFLO).

Here are the biggest percentage losers among small caps:

HireRight Inc (Nasdaq:HIRE), Computer Task Group Inc (Nasdaq:CTGX) and Stepan Co (Nasdaq:SCL) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sun Hydraulics Corp (Nasdaq:SNHY), National Research Corp (Nasdaq:NRCI), Wilshire Bancorp Inc (Nasdaq:WIBC), National Presto Industries Inc (Nasdaq:NPK), Tele Norte Celular (Nasdaq:TCN) and LeapFrog Enterprises Inc (Nasdaq:LF).

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

GeoResources Inc (Nasdaq:GEOI), STEC Inc (Nasdaq:STEC) and Peerless Manufacturing Co (Nasdaq:PMFG) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $750 million.

Sun Hydraulics Corp (Nasdaq:SNHY), CP Holders (Nasdaq:HCH) and Transact Technologies Inc (Nasdaq:TACT) are also among the new 52-week highs.

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

Small-cap stocks posted a solid gain Tuesday, erasing morning losses to climb to the highest daily close since early February. By the close, the Russell 2000 (NYSE:IWM) was up 5.44, or 0.75%, at 729.79.

The impressive recovery move off morning lows generated a bullish outside reversal on daily charts, which helps offset some of the topping pattern formed by Friday’s lower close after making new move highs. It should be noted that downside action on Monday was forged on extremely light volume, which took some of the edge off the lower price action coming into today’s session.

Looking ahead to Wednesday’s session, the market still needs to establish the ability to hold above the 731 zone, which formed a double top back in early February. Clearly, sellers emerged in that area late Tuesday, pulling the index back off the highs. Above that 731 point, resistance is at 735 and 743. If the market starts to struggle, then support is at 726, 720.50 and 715.

Much of the bearish morning tone was linked to overnight losses in Fannie Mae (NYSE:FNM), which tumbled 8% after investors were cool to earnings results and a downgrade in the company’s credit rating. However, Fannie Mae reversed course after a conference call with company officials, and ended up climbing more than 8%. Without that bearish impetus to stir jitters about the mortgage market, credit crunch and banking worries, the bears quickly lost favor. By late mid-morning, . . .

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open with an increase.

Small-cap stocks are poised for a modestly bullish opening on news that U.S. productivity for the fourth-quarter of 2007 was revised up. The U.S. Commerce Department reported this morning that business productivity added 1.9% at an annualized rate, above the initial estimate of 1.8%. Economists were not expecting an upward revision.

Small-cap stocks embarked on a similar journey Tuesday to what took place during Monday’s activity – a morning slump erased by a solid afternoon recovery. In the end, the Russell 2000 closed down 3.24, or 0.47% at 680.98. Despite the lower close, it had to feel like a victory for jittery bulls who endured a morning slide down to 670.59. Looking ahead to today’s action, support is pegged just below the market at 680, then at 675 and 670. Meanwhile resistance comes in at 693 and 701.

Wednesday is a busy session for event risk, with the ISM Non-Manufacturing Survey and Factory Orders at 10:00 a.m. ET. In the afternoon, the Beige Book report at 2:00 p.m. ET also could stir up some market volatility.

The Russell 2000 (NYSE: IWM) closed lower for the fifth consecutive session on news of more subprime fallout and tech sector woes. The small-cap index declined 3.24 points, or 0.47%, to 680.98. The Dow Jones Industrial Average (INDU) lost 45.10 points, or 0.37%, to 12,213.80.

On a year-to-date basis, the Russell 2000 is missing 11.10%, while the Dow is down 7.92% and the S&P 500 has retreated 9.64%.

The bears dominated trading and small-cap stocks spent the entire session in negative territory. With no major economic releases scheduled, investors focused on corporate news.

Citigroup Inc. (NYSE: C) reported before the opening that it may have to cut as many as 30,000 jobs over the next year and a half due to writedowns related to the subprime mortgage mess. Additionally, Citigroup might need to raise more capital to get over the credit crunch.

Contributing to the bearish sentiment was Santa Clara, Calif.-based chip maker Intel Corp. (Nasdaq: INTC), which announced after the close on Monday that it has lowered its first-quarter gross margin forecast to 54% from 56% earlier.

Small-cap stocks declined, with Jackson Hewitt Tax Service Inc. (NYSE: JTX) being one of the biggest losers. Before the opening the Parsippany, N.J.-based company posted third-quarter net income of $18.2 million, or $0.61 per share, a 34% decline from a year earlier.

Investors have had a long, smooth and successful ride with Florida-based Sun Hydraulics Corporation (Nasdaq: SNHY), a maker and marketer of key parts that harness fluid power.

Founded in 1970, the small cap designs and sells proprietary screw-in hydraulic cartridge valves and manifolds that are used in all sorts of industrial and mobile operations. The company’s product lineup is sold through a global network of distributors.

Sun Hydraulics went public in 1997 and has expanded beyond its home base of Sarasota to establish branches in the United Kingdom, Germany, Korea and China. In July, Sun said that it also was setting up a sales office in Bangalore, India.

As of last Dec. 31, slightly more than half of Sun Hydraulics’ sales were from outside the United States. The same held true in the quarter ended Sept. 29, as much of the company’s double-digit growth stemmed from the international marketplace.

While Sun Hydraulics appears to be a healthy small-cap stock, the company hasn’t attracted much in the way of analyst coverage. Admittedly, parts made for hydraulic systems aren’t the sexiest things out there that merit coverage, but the few analysts who do follow Sun Hydraulics have a somewhat positive outlook—not overwhelmingly so, but with leanings toward a positive sentiment, nonetheless.

Sun Hydraulics shares started the year in the low teens, hitting what’s been a 52-week low of $13.20 on Jan. 8—on an adjusted basis, to take into account a three-for-two stock split that took effect on July 17. The stock climbed to an adjusted high of $38.07 on July 18; on July 16 (ahead of the split), the stock hit an unadjusted intraday trading high of $56.20. Shares of Sun Hydraulics closed at $27.31 on Friday.

U.S. stocks have moved closer to the flat line this afternoon, recovering slightly from their morning losses. At 2:54 p.m. ET the Russell 2000 had lost 0.25 points, or 0.03%, to 846.03. The Dow Jones Industrial Average was down 3.57 points, or 0.03%, to 13,609.41.

Shares of Cardica Inc. (Nasdaq: CRDC) are in positive territory following news of a deal to develop and commercialize a device that corrects a common heart defect. The Redwood City, Calif.-based manufacturer of systems for coronary artery bypass surgery will partner with medical devices maker Cook Group Inc. and get $0.9 million in upfront fees, the company said before the start of trading.

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

Wall Street opened flat this morning as U.S. and Chinese officials begin a two-day discussion of economic issues.

At 10:05 a.m. ET the Russell 2000 was up 1.93 points, or 0.23 percent, to 835.58.  Dow Jones Industrial Average was up 13.32 points, or 0.10 percent, to 13,556.20.

U.S. Treasury Secretary Henry Paulson and Chinese government officials kick off two days of talks on a range of economic issues.  The U.S. government has long complained that China keeps its currency artificially undervalued, thus contributing to the large trade deficit between the two countries.

In business news, billionaire investor Kirk Kerkorian, who owns 56% of the MGM Mirage (NYSE: MGM) casino, announced he has bid for two of the company’s properties.  MGM is the world’s second largest casino.

The following are the most actively traded companies in Tuesday's trading among those 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: