Tag - VNDA

Small-cap stocks pulled lower Monday, unable to escape the familiar bearish shadow of rising crude oil prices and slumping financial shares. The Russell 2000 (NYSE:IWM) tumbled 5.92, or 0.82%, to 719.81, the second-lowest daily close since early May.

Small caps were noticeably soft relative to the large-cap Dow, which found comfort from energy-related gains in Exxon Mobil Corp. (NYSE:XOM), which gained about 2.3% to play a supportive role for the Dow 30.

Speaking of energy, crude oil prices climbed about 1% past $136 dollars a barrel, a brazen show of support given the fact that Saudi Arabia pledged to increase production. However, the possibility of more supplies was lapped up amid worker strikes in Nigeria and heightened Middle East tensions following last week’s news that Israel staged a large practice military strike against Iran’s nuclear production facilities.

The U.S. dollar managed to push higher today despite the rally in crude oil prices, gaining about 0.5% against the euro and about 0.4% versus the yen. However, advances in the greenback were trimmed back from better levels seen into the U.S. stock market opening, when soft Eurozone economic data bolstered the buck.

Every new trading day seems to bring with it a new bearish scare for the battered financial sector and today’s fright du jour was a warning from influential analysts at Goldman Sachs that the credit crunch will get a “second wind” and that junk bond defaults will rise more quickly than expected. Goldman also said that regional . . .

China Precision Steel Inc (Nasdaq:CPSL), National Coal Corp (Nasdaq:NCOC) and UAL Corp (Nasdaq:UAUA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gaiam Inc (Nasdaq:GAIA), ShengdaTech Inc (Nasdaq:SDTH), Third Wave Technologies Inc (Nasdaq:TWTI), Ricks Cabaret International Inc (Nasdaq:RICK), Allos Therapeutics Inc (Nasdaq:ALTH) and Vanda Pharmaceuticals Inc (Nasdaq:VNDA).

Here are the most actively traded companies among small caps:

Chemgenex Pharmaceuticals (Nasdaq:CXSP), Security Bank Corp (Georgia) (Nasdaq:SBKC) and Bank of the Ozarks Inc (Nasdaq:OZRK) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Jazz Pharmaceuticals Inc (Nasdaq:JAZZ), Bank of Commerce Holdings (California) (Nasdaq:BOCH), National Coal Corp (Nasdaq:NCOC), First California Financial Group Inc (Nasdaq:FCAL) and Somanetics Corp (Nasdaq:SMTS).

Here are the biggest percentage gainers among small caps:

Shares of Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) are getting a bit of a pop in pre-market trading after the developer of clinical-stage product candidates for central nervous system disorders said this morning that it made an exclusive alliance with Laboratory Corporation of America Holdings (NYSE:LH) to develop and commercialize a series of diagnostic tests for genetic markers.

Vanda will identify the tests in the course of its clinical development of Fanapta, an atypical antipsychotic drug candidate under FDA review for the treatment of schizophrenia.

Shares gained 9%, or $0.44, to $5.24 in pre-market trading. For detailed price information and recent news stories about Vanda, click VNDA.

Synchronoss Technologies Inc (Nasdaq:SNCR), Rubicon Technology Inc (Nasdaq:RBCN) and United Online Inc (Nasdaq:UNTD) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $750 million.

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Vasco Data Security International Inc (Nasdaq:VDSI) and Gulfport Energy Corp (Nasdaq:GPOR) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Eresearchtechnology Inc (Nasdaq:ERES) and Fuel Tech Inc (Nasdaq:FTEK) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $750 million.

Canadian Solar Inc (Nasdaq:CSIQ), IPG Photonics Corp (Nasdaq:IPGP) and China Natural Resources Inc (Nasdaq:CHNR) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Vision Sciences Class A Ord Shs (Nasdaq:VSCI) and Transact Technologies Inc (Nasdaq:TACT) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $750 million.

Ebix Inc (Nasdaq:EBIX), Jinpan International Ltd (Nasdaq:JST) and Approach Resources Inc (AMEX:AREX) are also among the new 52-week highs.

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

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), RRSat Global Communications Network Ltd (Nasdaq:RRST) and Libbey Inc (Nasdaq:LBY) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $750 million.

Amerigon Inc (Nasdaq:ARGN), Trailer Bridge Inc (AMEX:TRBR) and Old Second Bancorp Inc (Nasdaq:OSBC) are also among the new 52-week lows.

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

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Broadway Financial Corp (Nasdaq:BYFC) and Habersham Bancorp (NASDAQ:HABC) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

INX Inc (Nasdaq:INXI), Riverview Bancorp, Inc (Nasdaq:RVSB) and STEC Inc (Nasdaq:STEC) are also among the biggest percentage gainers.

Here are Monday's biggest percentage gainers among small caps:

Vanda Pharmaceuticals Inc. (Nasdaq: VNDA) reported this morning that the U.S. Food and Drug Administration has officially accepted its New Drug Application (NDA) for iloperidone, an investigational atypical antipsychotic for the treatment of schizophrenia.

Acceptance of the NDA confirms that the application is sufficiently complete for FDA review.

Shares of Vanda Pharmaceuticals (VNDA) gained $0.53, or 6.65%, to $8.50 ahead of the opening. Shares of Vanda Pharmaceuticals have been trading in the range of $7.47 to $32 for the past 52 weeks.

The Russell 2000 (NYSE: IWM) futures are slightly higher and the index may open in positive territory.

The bulls are reacting to news that Citigroup Inc. (NYSE: C) has received a $7.5 billion injection from the Abu Dhabi Investment Authority. The cash will allow the largest U.S. bank to better deal with losses accumulated through bets on securities backed by subprime mortgages.

On Monday, New York-based Citigroup dragged down financial stocks after announcing that it’s embarking on cost-cutting that may result in the firing of up to 45,000 of its over 300,000 employees.

Investors will have their eyes focused on an index of consumer confidence for the month of November, which is scheduled to be released at 10 a.m. ET. Economists are 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:

• Shamir Optical Industry Ltd. (SHMR), up 10% on news of a rise in third-quarter profit.
• Vanda Pharmaceuticals Inc. (VNDA), up 7% on news the U.S. Food and Drug Administration has accepted the New Drug Application for one of its drugs.
• BigBand Networks Inc. (BBND), up 6% on news more companies are deploying its services.

Biggest percentage losers:

• IRIS International Inc. (IRIS), down 6% on news it will offer up to $125 million in a mix of stock and debt.
• China Fire & Security Group, Inc. (CFSG) down 2%.
• CDC Corp. (CHINA) down 2%.

The Russell 2000 (NYSE: IWM) futures are higher on news of an unexpectedly strong October jobs report.

Non-farm payrolls increased 166,000 in October, the U.S. Labor Department reported this morning. That’s significantly above the projected increase of between 80,000 and 90,000 and a welcome sign that the labor market remains strong despite problems in the housing sector. Payrolls rose 96,000 in September.

The unemployment rate is holding steady at 4.7%.

Elsewhere, investors will also be paying attention to numbers on factory orders for September, which will be released by the U.S. Census Bureau at 10 a.m. ET. Economists are expecting a slight 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:

• RadiSys Corp. (RSYS), up 21% on news of a narrower third-quarter loss.
• Vanda Pharmaceuticals Inc. (VNDA), up 19% on news it said it no longer intends to offer convertible senior notes.
• GB&T Bancshares Inc. (GBTB), up 15% on news it is being acquired by SunTrust Banks, Inc. (STI).

Biggest percentage losers:

• Glu Mobile Inc. (GLUU), down 24% on news of a third-quarter net loss.
• Universal Electronics Inc. (UEIC), down 12% despite news of a solid third-quarter.
• Trump Entertainment Resorts, Inc. (TRMP) down 12% despite news of a higher third-quarter profit.

Vanda Pharmaceuticals Inc. (Nasdaq: VNDA), Trump Entertainment Resorts, Inc. (Nasdaq: TRMP) and Smith & Wesson Holding Corp. (Nasdaq: SWHC) are among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $750 million:

The Russell 2000 (NYSE: IWM) fell extra hard today as the major U.S. indices tumbled on news of poor corporate earnings and unimpressive economic reports. The small-cap index lost 32.84 points, or 3.97%, to 795.18—its biggest percentage loss this year. The Dow Jones Industrial Average (INDU) tumbled 362.14 points, or 2.60%, to 13,567.87.

On a year-to-date basis, the Russell 2000 has increased 0.99%, while the Dow has added 8.76% and the S&P 500 has gained 6.48%.

The day began with steep declines on news that Exxon Mobil Corp. (NYSE: XOM) suffered a bigger-than-expected drop in third-quarter profit and missed Wall Street’s expectations, while Citigroup Inc. (NYSE: C) was downgraded to “sector underperform” from “sector perform” by investment bank CIBC World Markets over concerns that it might have to cut its dividend to shore up its capital.

Small caps led the way down as stocks dove so sharply that trading curbs were introduced to prevent a massive sell-off.

Investors also had to digest economic news, when the U.S. Commerce Department reported that personal income increased at a seasonally adjusted rate of 0.4% in September, as expected, compared with a rise of 0.3% in August.

However, personal consumption in September increased 0.3%, below the projected rise of 0.4%. That’s a worrying sign that the American consumer might be cutting down on spending in the face of higher oil prices and a recession in the housing sector. In August, personal consumption added a downwardly revised 0.5%.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are still well below the flat line on negative news from corporate heavyweights. At 2:01 p.m. ET, the small-cap index had dropped 25.55 points, or 3.9%, to 802.47. The Dow Jones Industrial Average (INDU) had lost 264.27 points, or 1.9%, to 13,665.74.

The day began with sharp declines on news that Exxon Mobil Corp. (NYSE: XOM) reported a bigger-than-expected drop in third-quarter profit and missed Wall Street’s expectations, while Citigroup Inc. (NYSE: C) was downgraded to “sector underperform” from “sector perform” by investment bank CIBC World Markets over concerns that it might have to cut its dividend to raise more than $30 billion to shore up its capital.

Stocks dove so sharply that trading curbs were introduced to prevent a massive sell-off.

The overwhelmingly bearish mood is also due to investors’ realizations that an additional cut in the target interest rate is unlikely during the remainder of 2007.

On Wednesday the U.S. Federal Reserve lowered the federal funds rate to 4.5% from 4.75% but made no reference about the possibility of future action.

In economic news, the U.S. Commerce Department reported before the opening that the price index for personal consumption expenditures, a measure of inflation, added 0.2% in September after staying put in August. The core PCE, which excludes the more volatile costs of food and energy, also gained 0.2%.

The Russell 2000 (NYSE: IWM) and the other U.S. indices are falling hard on news of poor corporate earnings and mixed economic reports.

At 10:29 a.m. ET, the small-cap index had lost 20.94 points, or 2.53%, to 807.08. The Dow Jones Industrial Average (INDU) was down 224.36 points, or 1.61%, to 13,705.65.

Stocks suffered a steep drop out of the gate following news that Exxon Mobil Corp. (NYSE: XOM) reported a bigger-than-expected drop in third-quarter profit and missed Wall Street’s expectations.

The world’s largest publicly traded oil company announced a net income of $1.70 per share, down from $1.77 per share a year earlier and below analysts’ projected earnings of $1.75 per share.

Contributing to the overwhelmingly bearish sentiment was news that Citigroup Inc. (NYSE: C) was downgraded to “sector underperform” from “sector perform” by investment bank CIBC World Markets. CIBC said that Citigroup might have to cut its dividend or sell assets in order to raise more than $30 billion to shore up its capital.

In economic news, the U.S. Commerce Department reported that personal income increased at a seasonally adjusted rate of 0.4% in September, compared with a rise of 0.3% in August. That’s in line with economists’ expectations.

However, personal consumption in September increased 0.3%, below the projected rise of 0.4%. In August, personal consumption added a downwardly revised 0.5%.

The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open with a drop on news of a disappointing profit at Exxon Mobil.

The bears are dominant in pre-market trading following news that Exxon Mobil Corp. (NYSE: XOM) reported a bigger-than-expected drop in third-quarter profit and missed Wall Street’s expectations.

Irving, Texas-based Exxon Mobil, the world’s largest publicly traded oil company, booked a net income of $1.70 per share, down from $1.77 per share a year earlier and below analysts’ projected earnings of $1.75 per share.

In economic news, the U.S. Commerce Department reported that personal income increased at a seasonally adjusted rate of 0.4% in September, compared with a rise of 0.3% in August. That’s in line with economists’ expectations.

However, personal consumption in September increased 0.3%, below the projected rise of 0.4%. In August, personal consumption added a downwardly revised 0.5%.

Meanwhile, initial jobless claims for the week ended Oct. 27 fell 6,000 to 327,000 on a seasonally-adjusted basis. That’s a larger drop than the one expected by economists. But on the other hand, the four-week average—which is a more stable measure—increased 1,750 last week to 327,000.

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:

• Dynavax Technologies Corp. (DVAX), up 22% on news of a partnership with pharmaceutical giant Merck & Co. (MRK).
• Spreadtrum Communications Inc. (SPRD), up 15% on news of higher third-quarter earnings.
• i2 Technologies Inc. (ITWO), up 14% on news of a higher third-quarter profit.

Biggest percentage losers:

• Smith Micro Software Inc. (SMSI), down 22% on news of a decline in third-quarter profit.
• Vanda Pharmaceuticals Inc. (VNDA), down 17% on news it plans to offer $100 million of convertible senior notes due 2014.
• China Precision Steel Inc. (CPSL) down 11% on news it has agreed to issue and sell an aggregate of 7,100,000 shares of its common stock.

Local.com Corp. (Nasdaq: LOCM), Great Wolf Resorts, Inc. (Nasdaq: WOLF) and Accredited Home Lenders Holding Co. (Nasdaq: LEND) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $500 million:

Neurochem Inc. (Nasdaq: NRMX), PHAZAR CORP. (Nasdaq: ANTP) and Sonic Solutions (Nasdaq: SNIC) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $500 million:

China Sunergy Co., Ltd. (Nasdaq: CSUN), Vanda Pharmaceuticals Inc. (Nasdaq: VNDA) and Flamel Technologies S.A. (Nasdaq: FLML) are among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

Accredited Home Lenders Holding Co. (Nasdaq: LEND), Cumulus Media Inc. (Nasdaq: CMLS) and Hoku Scientific, Inc. (Nasdaq: HOKU) are among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

Accredited Home Lenders Holding Co. (Nasdaq: LEND), Trump Entertainment Resorts Inc. (Nasdaq: TRMP) and James River Coal Company (Nasdaq: JRCC) are among the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $500 million:

Accredited Home Lenders Holding Co. (Nasdaq: LEND), Local.com Corp. (Nasdaq: LOCM) and Rock of Ages Corp. (Nasdaq: ROAC) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $500 million:

Shares of Hoku Scientific, Inc. (Nasdaq: HOKU) are surging following news after Wednesday’s close that the Kapolei, Hawaii-based clean energy technology company has signed a 10-year contract with Suntech Power Holdings Co. (NYSE: STP) for up to $678 million to supply polysilicon.  Shares are up $2.44, or 53%, to $7.02.

Woburn, Mass.-based biotechnology company ArQule, Inc. (Nasdaq: ARQL) announced this morning that it will price an underwritten public offering of 7 million shares of its common stock at $7.75 per share.  The stock is up $0.34, or 5%, to $7.91.