Tag - Ahci

Small-cap stocks drifted lower into mid-session, unable to keep pace with mild gains in large-cap indices as smaller banks and financial firms were a drag on the Russell 2000 (NYSE:IWM). Some of today’s small-cap gainers were PharmaNet Development Group Inc. (Nasdaq:PDGI), Allied Healthcare International Inc. (Nasdaq:AHCI) and KB Home (NYSE:KBH).

Other Market Watch highlights today included:

• Poor performers were regional banks, diverse financial services firms, consumer finance companies, diversified banks, casinos and REITs.   Feb 03, 2009 1:11pm
• Personal products companies, steel stocks, coal firms and general merchandise stores were all doing well today.   Feb 03, 2009 1:10pm
• Motorcycle manufacturers were a top performer today, but the large automakers were in retreat mode as they release sales numbers today.   Feb 03, 2009 1:10pm
• Bank stocks were a major drag on the market, with the KBW Banking Index off about 4.1%. 

Small Cap Gainers:

• PharmaNet Development Group Inc. soared 244% on news the firm will be acquired by JLL Partners Inc. for $5 a share. See (Nasdaq:PDGI).  
• Allied Healthcare International Inc. was up 21% on heavy turnover amid an earnings-related boost. See (Nasdaq:AHCI).  
• Small-cap homebuilder KB Home was up 6.8%, while Meritage Homes Corp. was up 10.9%. See (NYSE:KBH) and (NYSE:MTH)

Small Cap Losers:

• Complete Production Services slips to loss in Q4; shares tumble over 16%. See (NYSE:CPX).  
• Colonial Properties shares sink 12% on Q4 report. See (NYSE:CLP).  
• Warner Music Group Corp. was off 6.4% on active volume; the only apparent news was a PR release last night that the firm would enter a global distribution deal with Destiny Media. See (NYSE:WMG). 

Small-cap stocks drifted lower into mid-session, unable to keep pace with mild gains in large-cap indices as smaller banks and financial firms were a drag on the Russell 2000 (NYSE:IWM). At 12:17 p.m. ET, the Russell was down 0.60, or 0.13%, at 449.02.

Losses were limited by a surprisingly stout rise in pending home sales, which were up 6.3%, compared with market expectations for a flat number. Homebuilder stocks seemed to get a lift from the number, with the ISE Homebuilder Index rising 5.2%. Small-cap homebuilder KB Home (NYSE:KBH) was up 6.8%, while Meritage Homes Corp. (NYSE:MTH) was up 10.9%.

The Federal Reserve also announced plans to keep programs on commercial paper operations running for a longer time frame, which was a supportive element for the market. Despite those two upbeat news items, bank stocks were a major drag on the market, with the KBW Banking Index off about 4.1%.

Earnings were a mixed bag today, but expectations are so low on the profit front, that any sign of mild upside surprises is embraced by investors. Drug maker Merck & Co. (NYSE:MRK) beat the estimate and was a big supportive element for the Dow index. Drug stocks in general were outpacing the overall market, with the AMEX Pharmaceuticals Index up 1.6%.

Looking at sector activity, motorcycle manufacturers were a top performer today, but the large automakers were in retreat mode as they release sales numbers today. General Motors Corp. (NYSE:GM) was down 6.1%, while Ford Motor Co. (NYSE:F) was down 3.1%. Personal products companies, steel stocks, coal firms and general merchandise stores were all doing well today. On the downside, the . . .

Allied Healthcare International Inc. (Nasdaq: AHCI) interim CEO Sarah Eames said the provider of temporary health-care staffing may be able to provide guidance to shareholders in the future. Eames made the comments during a morning conference call.

“One of the ways going forward that I think we’ll be able to help our shareholders will be looking at the number of employed workers we have and the amount of time they work on average and as that increases, our volume increases and as we’re polishing up this 45-day recruitment pool, I would expect that we’ll be able to use that as maybe an opportunity to provide guidance to our shareholders,” Eames said.

Before the opening, Allied Healthcare reported fourth-quarter revenue of $73.2 million, up 6% from $69.2 million a year earlier. Analysts predicted $78.2 million in quarterly revenue.

For the three months ended Sept. 30, Allied Healthcare’s profit totaled $61.3 million, or $1.36 per share, up 147% from a loss of $131 million, or $2.92 per share, during the year-ago period. Wall Street analysts projected earnings of $0.06 per share.

Fourth-quarter selling, general and administrative expenses rose to $19.7 million, from $18.9 million. Gross profit during the three months climbed 8% to $22.7 million, from $21.1 million. The company said severance costs and related professional fees related to the resignation of its former CEO added $1.2 million in quarterly expenses.

Eames said the company does not want to increase its hospital market share.

“Allied Healthcare is not focused on increasing its hospital staffing business,” she said. “We are very much focused on providing more integrated health care in the community by working closely with social services.”

In midday trading, AHCI shares are up 4.78%, or $0.12, at $2.63. Over the last 52 weeks, shares have ranged from $1.95 to $3.75.