Tag - Actg

Arca BioPharma Inc (Nasdaq:ABIO), Acacia Research Corp (Nasdaq:ACTG), Intervest Bancshares Corp (Nasdaq:IBCA) and Pacific Capital Bancorp (Nasdaq:PCBC) are among the biggest percentage Gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: First M&F Corp (Nasdaq:HFBC), Hopfed Bancorp Inc (Nasdaq:HFBC), Capital Bank Corp (Nasdaq:CBKN), CFS Bancorp Inc (Nasdaq:CITZ) and Core Mining Technologies Inc (Nasdaq:CMT).

 

Poniard Pharmaceuticals Inc. (Nasdaq:PARD), IncrediMail Ltd. (Nasdaq:MAIL) and Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ClickSoftware Technologies Ltd. (Nasdaq:CKSW), Optimer Pharmaceuticals Inc. (Nasdaq:OPTR), Fuqi International Inc. (Nasdaq:FUQI), Acacia Research-Acacia Technologies (Nasdaq:ACTG), RehabCare Group, Inc. (Nasdaq:RHB) and North Asia Investment Corp. (Nasdaq:NHR).

Cornerstone Therapeutics Inc. (Nasdaq:CRTX), ChinaEdu Corp (Nasdaq:CEDU) and ChinaCast Education Corp. (Nasdaq:CAST) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NVE Corp. (Nasdaq:NVEC), Atrion Corp. (Nasdaq:ATRI), Acacia Research-Acacia Technologies (Nasdaq:ACTG), Wilber Corp. (Nasdaq:GIW), Cray Inc. (Nasdaq:CRAY) and Alliance Financial Corp. (Nasdaq:ALNC).

Superconductor Technologies Inc. (Nasdaq:SCON), Saffron Fund Inc. (Nasdaq:SZF) and Acacia Research-Acacia Technologies (Nasdaq:ACTG) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Tasty Baking Co. (Nasdaq:TSTY), Broadpoint Gleacher Securities Group Inc. (Nasdaq:BPSG), American Dairy Inc. (Nasdaq:ADY), AboveNet Inc. (Nasdaq:ABVT), Changyou.com Ltd. (Nasdaq:CYOU) and Wonder Auto Technology Inc. (Nasdaq:WATG).

Small-cap stocks began Friday’s trading session higher, but are skidding into the red after figures from the University of Michigan showed American consumer sentiment at a 26-year low. At 1:43 p.m. ET, the Russell 2000 (NYSE:IWM) was down 3.35, or 0.47%, at 713.72.

Among small caps, Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX) is up 30% after the Tarrytown, N.Y.-based company’s constipation drug won FDA approval. YRC Worldwide Inc. (Nasdaq:YRCW) is up about 29% after the transportation services company said early Friday that it expects second-quarter profit in-line with Wall Street expectations. Wilshire Bancorp, Inc. (Nasdaq:WIBC) is up 17% after the Los Angeles-based community bank posted first-quarter net income of $7.1 million, or $0.24 per share, compared with analysts’ expectation of earning $0.20 per share.

Among small-cap losers, shipping and logistics company Horizon Lines, Inc. (NYSE:HRZ) is down about 18% after cutting its 2008 forecast due to weakness in Puerto Rico. Acacia Research-Acacia Technologies (Nasdaq:ACTG) is down 18% after the Newport, Calif.-based company, which develops, acquires, licenses and enforces patented technologies, reported a first-quarter loss of $3.9 million, . . .

Acacia Research- Acacia Technologies (Nasdaq:ACTG), Horizon Lines, Inc. (NYSE:HRZ) and SiRF Technology Holdings Inc. (Nasdaq:SIRF) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

EZCORP, Inc. (Nasdaq:EZPW), Bottomline Technologies (Nasdaq:EPAY) and Viad Corp. (NYSE:VVI)  are also among the top small-cap percentage losers.

Here are Friday's biggest percentage losers among small caps

Developer and licenser of patented technologies Acacia Research Corp. (Nasdaq:ACTG) said this morning that its Diagnostic Systems subsidiary made a license agreement with Quest Software, Inc. covering a portfolio of patents that apply to rule-based monitoring. The company also said that the agreement resolves a dispute that was pending in the District Court for the Central District of California. Shares climbed 9.3%, or $0.53, to $6.25 in pre-market trading.

For detailed price information and recent news stories about Acacia Research, click ACTG.

The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open in the red on news that U.S. durable goods orders unexpectedly declined in February.

Orders for durable goods fell 1.7% in February, the U.S. Census Bureau reported before the start of trading. Economists were expecting durable goods, which are goods expected to last at least three years, to increase 0.8% after falling a downwardly revised 4.7% in January.

Elsewhere in the same report, orders for nondefense capital goods excluding aircraft, an important measure of business spending, also declined.

The Russell 2000 had a relatively quiet session Tuesday, rising 3.99, or 0.57%, to 705.27. Look for resistance Wednesday at 712 and 724, while support comes in at 700, 694 and 686.

There could be mild volatility today. New Home Sales are released at 10:00 a.m. ET and could spark a little move outside of the norm.

 

Shares of Acacia Research-Acacia Technologies (Nasdaq:ACTG), which is a segment of Acacia Research Corp., are up on news before the opening that the Newport Beach, Calif.-based company, which acquires and licenses patented technology, has entered into a license agreement with business software maker SAS Institute Inc.

At 2:29 p.m. ET, the stock had climbed $0.37, or 7%, to $5.80.

The Russell 2000 (NYSE: IWM) fell for the third consecutive time today following news of a decline in industrial production and renewed fears of a credit squeeze. The Russell 2000 lost 2.10 points, or 0.27%, to 769.50. The Dow Jones Industrial Average (INDU) added 66.74 points, or 0.51%, to 13,176.79.

On a year-to-date basis, the Russell 2000 has retreated 2.28%, while the Dow has risen 5.63% and the S&P 500 has added 2.97%.

Industrial production unexpectedly fell 0.5% in October, the U.S. Federal Reserve reported before the opening. That’s the biggest decline since January, defying economists’ projections of a rise of 0.1%. Industrial production added 0.2% in September.

The decline was due primarily to a 1.6% drop in utilities, as well as smaller declines in mines, construction and consumer goods. Compared with October 2006, industrial production has increased 1.8%.

Capacity utilization for the total industry declined to 81.7% from 82.2% in September.

The data tell us that the U.S. economy is probably headed for a slowdown, as industrial production is about 20% of gross domestic product. On the plus side, factories have room to ramp up production without triggering inflation.

The Russell 2000 (NYSE: IWM) is in the red as positive news from the tech sector lifts the Dow Jones Industrial Average (INDU) but fails to impress small-cap investors. At 1:52 p.m. ET, the small-cap index had shed 2.42 points, or 0.31%, to 769.18. The Dow Jones was up 63.89 points, or 0.49%, to 13,173.94.

The mood in pre-market trading was bullish following news that analysts have raised their recommendations for Hewlett-Packard Co. (Nasdaq: HPQ), the world’s largest maker of personal computers, and energy giant Chevron Corp. (NYSE: CVX).

Also contributing good news was tech sector heavyweight Cisco Systems Inc. (Nasdaq: CSCO), a maker of networking equipment, which announced that it has authorized additional stock repurchases valued at as much as $10 billion, raising the total amount to $62 billion.

Stocks started in positive territory but small caps tumbled down soon afterward, while the Dow held on for longer before trimming some of its gains and eventually also slipping into the red.

The bears’ return was facilitated by news that U.S. industrial production surprisingly fell 0.5% in October, the most since January, according to data released by the U.S. Federal Reserve before the opening. Industrial production added 0.2% in September.

The data confirm economists’ projections that U.S. economic growth is shifting into lower gear. Industrial production is about 20% of gross domestic product.

But the bulls managed to regain their footing and the major indices, with the exception of the Russell 2000, started climbing and moved into the green at about 11 a.m. ET.

The Russell 2000 (NYSE: IWM) is deep in negative territory while the Dow Jones Industrial Average (INDU) is marginally lower following news of a surprise drop in industrial production.

At 10:41 a.m. ET, the small-cap index was down 9.68 points, or 1.25%, to 761.92. The Dow was down 16.02 points, or 0.12%, to 13,094.03.

Industrial production surprisingly fell 0.5% in October, the U.S. Federal Reserve reported minutes before the opening. That’s the biggest decline since January. Economists were expecting a rise of 0.1% after industrial production added 0.2% in September.

The decline was due primarily to a 1.6% drop in utilities, while mines fell 0.6% and construction slipped 0.4%.

Capacity utilization for the total industry declined to 81.7% from 82.2% in September.

The numbers tell us that the U.S. economy is probably headed for a slowdown, as industrial production is about 20% of gross domestic product. But the on the other hand, factories have plenty of room to ramp up production without triggering inflation.

In corporate news, there was a bullish mood before the start of trading on 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 good news was 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.

Stocks started in positive territory but small caps tumbled down soon afterward, while the Dow held on for longer before trimming some of its gains and eventually also slipping into the red.

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%.

Developer of patented technologies Acacia Research Corp. (Nasdaq: ACTG) reported ahead of the bell that its Disc Link Corp. subsidiary has entered into a license agreement with Bentley Systems, Inc.

Under the licensing agreement with Bentley, Disc Link will cover patents related to portable storage devices with links. The agreement also resolves pending litigation concerning certain Bentley Systems products.

The portable storage devices with links technology relates to products sold or distributed on CDs or DVDs that include a link to retrieve additional data via the Internet.

Shares of Acacia were halted in pre-market trading.

Acacia Research Corp. (Nasdaq:CBMX, ACTG), which develops, acquires and licenses patented technologies, announced this morning that its CombiMatrix division was awarded a contract from the U.S. Department of Defense for $2.2 million contract for further development of its microarray technologies for a multipathogen- and chemical-detection system.

The Russell 2000 (NYSE: IWM) fell but the Dow Jones Industrial Average (INDU) closed at a third consecutive record high. The small-cap index dropped 7.30 points, or 0.85%, to 848.47. The Dow gained 43.73 points, or 0.31%, to a record close of 13,950.98.

The day began with news that Glendale, Calif.-based pancake restaurant operator IHOP Corp. (NYSE: IHP) will buy casual diner Applebee’s International, Inc. (Nasdaq: APPB) for about $2.1 billion in cash, including the assumption of debt. The acquisition is expected to close in the fourth quarter.

Stocks got a small boost later in the morning following news that manufacturing conditions in New York State improved in July.