Tag - UTEK

The stock market has remained in a holding pattern all week, as traders wait to see what kind of a compromise Congress and the White House can reach over federal spending as the August 2nd deadline looms large.

While the major small cap stock indexes don't show it, there were plenty of big moves Thursday as investors found positive signs spread among the ruins. Three of the top five performers all hit 52-week highs, and a management change helped the day's top small cap stock, Universal Forest Products, post a healthy 21 percent increase despite a 69 percent profit drop in the second quarter.

The Russell 2000 Index lost 1.63 percent in value and the Standard & Poor's Small Cap 600 dropped a similar 1.64 percent. While the Nasdaq Stock Market dropped 1.22 percent, two other major U.S. stock indexes held their ground a little better - the Dow Jones Industrial Average closed 0.44 percent lower, and the Standard & Poor's 500 was off 0.67 percent.

Cepheid (Nasdaq:CPHD), Integra Bank Corp (Nasdaq:IBNK) and Affymetrix Inc (Nasdaq:AFFX) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ultratech Inc (Nasdaq:UTEK), Oneida Financial Corp (Nasdaq:ONFC), Abaxis Inc (Nasdaq:ABAX), South Finl Group (Nasdaq:TSFG), Standard Register Co (Nasdaq:SR) and Gencor Industries Inc (Nasdaq:GENC).

Here are the biggest percentage losers among small caps:

Crocs Inc (Nasdaq:CROX), UAL Corp (Nasdaq:UAUA) and Affymetrix Inc (Nasdaq:AFFX) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc (Nasdaq:CSIQ), Netlogic Microsystems Inc (Nasdaq:NETL), Epicor Software Corp (Nasdaq:EPIC), Vasco Data Security International Inc (Nasdaq:VDSI), Ultratech Inc (Nasdaq:UTEK) and Morgans Hotel Group Co (Nasdaq:MHGC).

Here are the most actively traded companies among small caps:

Shares of Ultratech Inc. (Nasdaq:UTEK), which makes photolithography and laser thermal processing equipment, are heating up on news before the opening that it swung to a first-quarter profit. Net income for the three months ended March 29 was $2.0 million, or $0.08 per share, compared with a net loss of $3.2 million, or $0.14 per share, a year earlier.

“During the quarter, Ultratech executed effectively and achieved higher than expected revenue and earnings,” CEO Arthur Zafiropoulo said in a statement.

At 11:21 a.m. ET, the stock had gained $1.21, or 11%, to $12.25.

Small-cap futures are expected to open lower this morning, with overnight futures trading down about 0.50%. Overseas markets were higher in Asia Wednesday night in line with Wednesday’s gains in U.S. equities, but the move was not as impressive (Europe equities were mixed), which might have sparked profit-taking from short-term traders.

Futures markets wafted through the Weekly Claims report this morning with little change, as the number was close enough to the market consensus to have very little impact on the morning action.

There is further event risk this morning from the Philly Fed survey and Leading Indicators, which both hit the wires at 10:00 a.m. ET. The Philly Fed report is expected to sport five consecutive contraction readings for the first time since the 2001 recession. The Leading Indicators report is a compilation of mostly-known . . .

Ultratech, Inc. (Nasdaq: UTEK), a manufacturer and marketer of photolithography and laser thermal processing equipment, reported this morning that it recorded a loss for the third quarter, below the consensus on Wall Street of a profit.

For the three months ended Sept. 29, the San Jose, Calif.-based firm recorded a net loss of $0.9 million, or $0.04 per share, while six analysts polled by Thomson Financial were expecting a profit of $0.01 per share for the quarter. For the third quarter last year, Ultratech booked a net loss of $2.6 million, or $0.11 per share.

Sales also fell below the consensus on Wall Street. Net sales were $25.2 million, compared with the $29.35 million four analysts polled by Thomson Financial were forecasting. During the third quarter of 2006, the company earned $33.9 million in revenue.

Shares of Ultratech (UTEK) were halted in pre-market trading.