Tag - SVVS

Encore Capital Group Inc. (Nasdaq:ECPG), SAVVIS Inc. (Nasdaq:SVVS) and ATC Technology Corp. (Nasdaq:ATAC) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Complete Production Services Inc. (Nasdaq:CPX), Medifast Inc. (Nasdaq:MED), Tecumseh Products Co. (Nasdaq:TECUA), W Holding Co Inc. (Nasdaq:WHI), B&G Foods Inc. (Nasdaq:BGS) and Phase Forward Inc. (Nasdaq:PFWD).

OmniVision Technologies Inc. (Nasdaq:OVTI), SAVVIS Inc. (Nasdaq:SVVS) and Hercules Offshore Inc. (Nasdaq:HERO) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ares Capital Corp. (Nasdaq:ARCC), XenoPort Inc. (Nasdaq:XNPT), Sierra Wireless Inc. (Nasdaq:SWIR), Carrizo Oil & Gas Inc. (Nasdaq:CRZO), EnerNOC Inc. (Nasdaq:ENOC) and Tessera Technologies (Nasdaq:TSRA).

Small caps closed up nearly 2%, embracing the Fed’s rate cut, a thaw in credit markets and a bounce in commodity-tied stocks. Today’s small-cap gainers are Savient Pharmaceuticals (Nasdaq:SVNT), Savvis (Nasdaq:SVVS) and Hercules Offshore (Nasdaq:HERO).

Other Market Watch highlights today included:

• The rate cut by the Fed coincides with global easing; just last night, central bank officials in China cut rates by 0.27% and European leaders hinted that further rate cuts are possible. 
• It’s possible that the bulls were corralled a little bit today, leery to take a big bullish stand ahead of Thursday’s GDP report.
• Commodities were a key part of the story today, which may explain some of the relative strength in small caps, which have shown a tendency to more closely track commodity trends in recent weeks.
• Crude oil prices jumped some 9%, or more than $5 a barrel, bolstered by oversold conditions and a slide in the U.S. dollar, which tumbled some 1.4% against the euro.
• Copper has soared some 14%, which is particularly interesting because copper is often seen as a proxy for economic activity around the globe. Copper has collapsed in recent weeks, but a stabilization in that market would be a positive sign for the global economy.

Small Cap Gainers:

• BioMimetic Therapeutics reports promising clinical results using injectable bone graft. Shares close up 21%. See (Nasdaq:BMTI).  
• Tessera Technologies shares surged 30% after arbitration ruling. See (Nasdaq:TSRA).  
• Savient Pharmaceuticals announces data in treatment-failure gout . . .

The Russell 2000 (NYSE:IWM) closed up nearly 2% on Wednesday, embracing signs of a thaw in credit markets, another rate cut by Federal Reserve officials, a bounce in commodity-tied stocks and another rise in global equity prices.

The Federal Open Market Committee elected to slash 50 basis points off the Fed funds target, which was right in line with market expectations. The immediate reaction from stocks was a mild slide off the highs, but the move was relatively tame, especially within the context of recent volatile swings. Small caps were able to hold in positive territory immediately after the rate cut, outperforming large caps in a switch from the trends we’ve seen in recent weeks.

The rate cut by the Fed coincides with global easing; just last night, central bank officials in China cut rates by 0.27% and European leaders hinted that further rate cuts could be right around the corner. Even in Japan, where low rates have persisted forever, central bankers are expected to cut rates.

That environment of cheaper money is seen as supportive to businesses and helped spark a rally in overseas equities. Japan shares were higher for the second consecutive session, trying to bounce after hitting 26-year lows on Monday.

It’s possible that the bulls were corralled a little bit today, leery to take a big bullish stand ahead of Thursday’s GDP report, which is widely expected to show the nation’s economy slipping into negative territory, consistent with a recession.

Also on the data front, earlier today the durable goods report came in at plus 0.8%, which was better than the forecast for a decline of 1.1%. Durable goods orders tend to be volatile, so the market wasn’t that eager to make too big a deal of the surprising strength. In addition, before the market opened, the MBA Mortgage Application Index jumped 16.8%, recovering nicely after hitting eight-year lows last week. Still, the index remains mired nearly multi-year lows and is down 30% from year-ago . . .

Minefinders Corp Ltd. (Nasdaq:MFN), Tessera Technologies (Nasdaq:TSRA) and Hercules Offshore Inc. (Nasdaq:HERO) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: SAVVIS Inc. (Nasdaq:SVVS), Allis-Chalmers Energy Inc. (Nasdaq:ALY), Arris Group Inc. (Nasdaq:ARRS), Meritage Homes Corp. (Nasdaq:MTH), BankAtlantic Bancorp Inc. (Nasdaq:BBX) and Boyd Gaming Corp. (Nasdaq:BYD).

Here are the biggest percentage gainers among small caps:

Small-cap stocks chopped back and forth near steady levels in a relatively calm open, as support from gains in equity markets around the world were countered by mild profit-taking from short-term traders who caught the rally from Tuesday afternoon and weren’t willing to hold that risk through the big FOMC event later today. Today’s small-cap gainers are Silicon Labs (Nasdaq:SLAB), Savvis Inc. (Nasdaq:SVVS) and Odyessey HealthCare Inc. (Nasdaq:ODSY).

Other Market Watch highlights today included:

• Part of the rally in commodities was tied to a pullback in the U.S. dollar, as higher dollar values can hinder demand for goods priced in dollar terms.  
• Also on the commodities front, copper was sharply higher, sugar and coffee were up, grains were called sharply higher, and gold and silver were up overnight.
• Energy shares were a big part of Wednesday’s epic stock market rally and could be a firm element in play again today.  
• Crude oil futures were in rally mode this morning, climbing some $4 a barrel on hopes that all these global rate cuts would bolster demand and put a foundation on sinking prices.  
• Small-cap stocks chopped back and forth near steady levels in a relatively calm open, in anticipation of the upcoming FOMC news.

Small Cap Gainers:

• Silicon Labs said Q3 revenue rose 29%, but was a shade lower than the Street. EPS jumped 50% and clocked in above Street. (Nasdaq:SLAB).  
• SAVVIS Inc. jumped 26% as the IT infrastructure services provider reported a 15% rise in revenue and a net loss of $0.01 a share. See (Nasdaq:SVVS).  
• Odyessey HealthCare Inc. is up 24% as net patient service revenue jumped 65%. See (Nasdaq:ODSY).
• ClickSoftware reports global reseller agreement with SAP, up 10%. See (Nasdaq:CKSW).

Small Cap Losers:

• Wright Express substantially lowers Q4 and full year guidance below the Street on fuel-price-related derivatives. See (NYSE:WXS).  
• CTS Corp. posts lower Q3 EPS, but EPS still beat the Street. Revenues declined from last year and missed estimates. See (NYSE:CTS).  
• KeyBanc Capital and Needham downgrade Ultimate Software to hold from buy. See (Nasdaq:ULTI).  
• VistaPrint plunges after cutting 2009 outlook, ThinkPanmure cuts rating to accumulate from buy. See (Nasdaq:VPRT).  

Small-cap stocks chopped back and forth near steady levels in a relatively calm open, as support from gains in equity markets around the world were countered by mild profit-taking from short-term traders who caught the rally from Tuesday afternoon and weren’t willing to hold that risk through the big FOMC event later today. At 9:51 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1.59, or 0.33%, at 484.14.

The durable goods report came in above expectations, with a gain of 0.8%, compared with the forecast for a slide of 1.1%. However, the previous month’s data was revised downward, which took some of the bullish edge off the number. The market initially extended overnight gains on the headline figure, but quickly sliced away that advance.

Also on the data front, the MBA Mortgage Application Index jumped 16.8%, but remains 30% below year-ago levels and is hovering near 8-year lows as the housing market remains mired in a slump.

Now that the modest morning data is out of the way, the market will be free to focus on what the Federal Reserve will do this afternoon and what the statement accompanying the rate cut will mean to the market. Fed funds futures have priced in a 100% chance for a 50-basis-point cut and were even pricing in about a 40% chance for a 75-bp cut. Although about 70% of economists were forecasting a 50-bp cut today by the Fed, there is still a minority out there looking for just a 25-bp cut.

Rate cut fever is certainly in the air today, and not just because of anticipation ahead of the big Fed announcement. Overnight, central bank officials in China cut rates by 0.27%, marking the third rate cut in six weeks by the fourth-largest economy in the world. Earlier this week, officials with the European Central Bank seemed to hint that rate cuts were quite possible in the near-term. Investors are hoping that the rate cuts around the world will further thaw the frozen credit market, adding to . . .

Clean Energy Fuels Corp. (Nasdaq:CLNE), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) and America's Car-Mart Inc. (Nasdaq:CRMT) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Medivation Inc. (Nasdaq:MDVN), Savvis Inc. (Nasdaq:SVVS), China Sunergy Co Ltd. (Nasdaq:CSUN), Westport Innovations Inc. (Nasdaq:WPRT), ShengdaTech Inc. (Nasdaq:SDTH) and OraSure Technologies Inc. (Nasdaq:OSUR).

Here are the most actively traded companies among small caps:

Barrett Business Services Inc (Nasdaq:BBSI), Trex Co In (Nasdaq:TWP) and American Commercial Lines Inc (Nasdaq:ACLI) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Image Sensing Systems Inc (Nasdaq:ISNS), SAVVIS Inc (Nasdaq:SVVS), Starent Networks Corp (Nasdaq:STAR), Wright Express Corp (Nasdaq:WXS), Hutchinson Technology Inc (Nasdaq:HTCH) and Eagle Test Systems Inc (Nasdaq:EGLT).

Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed higher this morning, buoyed by a positive surprise on the ADP Employment Report, which heightened investor expectations for a bullish number on this Friday’s big Labor Department monthly employment release. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.91, or 0.83%, at 720.46.

The headline figure on the ADP report was at plus 9,000, which was well above the forecast for a decline of 58,000 non-farm payroll jobs. The ADP report used to have a fairly nice correlation to the more extensive Labor Department release, but that correlation has broken down over the last year and the ADP figure has tended to only be a good predictor when it falls near the consensus estimate. Given that the market is looking for a slide of 75,000 jobs in Friday’s employment report, most economists viewed the ADP data this morning with skepticism. Still, it did spark a bounce in the U.S. dollar and stock index futures this morning while generating a slide in Treasuries. The yield on the benchmark 10-year note was up about 1.6% this morning, suggesting money flow away from “safe-haven” products and toward stocks.

Lost in the positive glow of the ADP report was this morning’s MBA Mortgage Applications Survey, which was pegged at minus 14.1, the lowest level since December 2001. The combination of weak home sales and slumping home equity continue to take a toll on mortgage applications, despite moderating mortgage rates.

The greenback was up about 0.3% against the euro, rising to the highest point in four weeks. At the same time, crude oil prices were hovering near three-month lows and gold prices were near four-week lows, so the inflation picture was projecting a better tone this morning, and a strong dollar can attract foreign investors into U.S. assets.

Speaking of crude oil, the market was down about $1 dollar a barrel, slipping below $122, awaiting the weekly inventory data, which is expected to show a build in crude oil stocks. Rhetoric surrounding the direction of crude oil prices later this year is all over the map, with some pundits saying that crude oil could slide below $100 dollars, while some research firms are still calling for $150 dollars. Given recent stock market behavior, when prices get above $135 dollars, the stock market becomes . . .

Royale Energy Inc (Nasdaq:ROYL), Carrols Restaurant Group (Nasdaq:TAST) and Avant Immunotherapeutics Inc (Nasdaq:AVAN) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

SAVVIS Inc (Nasdaq:SVVS), USA Mobility Inc (Nasdaq:USMO) and Sun Healthcare Group Inc (Nasdaq:SUNH) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Small-cap stocks tumbled hard from intraday highs Wednesday as investors digested another rate cut by the Federal Reserve, and the statement accompanying the move. By the close, Russell 2000 (NYSE:IWM) shares were down 2.75, or 0.38%, at 716.17.

Although the overall decline for the day was tame, the slide off the FOMC peak was relatively dramatic. Small-cap stocks initially pushed higher on the rate cut news, but then descended into a freefall that saw the Russell shed 13 handles or nearly 1.8% from high to low.

The bullish capitulation seen in equities after the FOMC news could have simply been a classic case of a “buy the rumor, sell the fact” market response, especially considering that stocks pushed higher into the news. The S&P 500 Index cracked figure resistance at 1,400 shortly after the FOMC decision, but quickly joined small-cap shares on the retreat as investors shied away from the market. It’s worth noting that the Russell clearly led the overall stock market on the way down as selling enthusiasm kicked into gear about 30 minutes after the rate cut announcement.

“I think the markets were perfectly positioned for the Fed, and are now worried about the payroll report,” Nick Kalivas, vice president of financial research with MF Global, said in an email interview with SmallCapInvestor.com. “Financial and retail shares have not confirmed the rally and this is a technical negative that may have sparked profit taking. Small caps are down mostly on a beta trade, but property casualty and regional banks are the weakest names. This may be a negative reaction to the FOMC and Cash America is off on an Ohio bill that limits interest on payday loans,” Kalivas said. He also anticipated that small caps would tread water sideways to lower heading toward Friday’s employment report, as traders would likely be unwilling . . .

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 . . .