Tag - Ango

Wilmington Trust Corp. (Nasdaq:WL), AngioDynamics Inc. (Nasdaq:ANGO) and Providence Service Corp. (Nasdaq:PRSC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.
 
Also included among the results: Radiant Systems Inc. (Nasdaq:RADS), Isramco Inc. (Nasdaq:ISRL), Callaway Golf Co. (Nasdaq:ELY), Electro-Optical Sciences Inc. (Nasdaq:MELA), Rubicon Technology Inc. (Nasdaq:RBCN) and Asset Acceptance Capital Corp. (Nasdaq:AACC).

DryShips Inc (Nasdaq:DRYS), Zhongpin Inc (Nasdaq:HOGS) and AngioDynamics Inc (Nasdaq:ANGO) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ICU Medical Inc. (Nasdaq:ICUI), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Central European Distribution Corp. (Nasdaq:CEDC), Geron Corp. (Nasdaq:GERN), The9 Ltd. (Nasdaq:NCTY) and Apollo Investment Corp. (Nasdaq:AINV).

Macerich REIT (Nasdaq:MAC), Fisher Communications Inc. (Nasdaq:FSCI) and AnnTaylor Stores Corp. (Nasdaq:ANN) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AngioDynamics Inc. (Nasdaq:CBAN), Blyth Inc. (Nasdaq:BTH), Penn Virginia Corp. (Nasdaq:PVA), Winnebago Industries Inc. (Nasdaq:WGO) and Monarch Casino & Resort Inc. (Nasdaq:MCRI).

Geron Corp. (Nasdaq:GERN), CoBiz Financial Inc. (Nasdaq:COBZ) and PAM Transportation Services Inc. (Nasdaq:PTSI) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: WellCare Health Plans Inc. (Nasdaq:WCG), Bottomline Technologies Inc. (Nasdaq:EPAY), Rubicon Technology Inc. (Nasdaq:RBCN), Capitol Bancorp Ltd. (Nasdaq:CBC), AngioDynamics Inceeaspan Corp.  (Nasdaq:ANGO) and Seaspan Corp. (Nasdaq:SSW).

Small-cap stocks pushed higher after a flat open, underpinned by bullish enthusiasm stoked by news that Pfizer Inc. (NYSE:PFE) would pay $68 billion for Wyeth (NYSE:WYE) in one of the biggest pharma M&A deals in years. In addition, economic data on home sales and leading indicators topped expectations, fueling the rise in equities. Some of today's small-cap gainers were RXi Pharmaceuticals Corp. (Nasdaq:RXII), WellCare Health Plans Inc. (NYSE:WCG) and StealthGas (Nasdaq:GASS).
  
Other Market Watch highlights today included:

• Crude prices pushed about $1 a barrel higher, which should underpin energy shares if the firm tone persists.  
• Even though much of the early news today seemed soft (outside of the econ data), the market was holding together reasonably well.  
• Leading indicators came in at +0.3%, better than the projection for -0.3%. This marked the first rise in leading indicators since June 2008.
• Existing home sales came in at an annual rate of 4.74M units, above the forecast of 4.4M. Sales were up 6.5%, compared with a slide of 9.4% in Nov.

Small Cap Gainers:

• RXi Pharmaceuticals Corp. jumped 31% on news that the firm will enter a research collaboration with the University of Massachusetts Medical School. See (Nasdaq:RXII).  
• WellCare Health Plans Inc. rallied about 19% as the firm updated its 2008 forecast and said it would pay in fall outstanding term loan balances. See (NYSE:WCG).
• StealthGas climbs 15% in pre-market after announcing a rise in Q3 profit; declaring dividend. See (Nasdaq:GASS).
• AngioDynamics Inc. was up 12%, gapping higher and pushing toward multi-month highs. See (Nasdaq:ANGO).  

Small Cap Losers:

• Wyeth withdraws from Crucell takeover talks; Crucell tumbles 15% in pre-market. See (Nasdaq:CRXL).
• AMN Healthcare Services Inc. was down 13% sinking to 52-week lows. See (NYSE:AHS).  

Small-cap stocks pushed higher after a flat open, underpinned by bullish enthusiasm stoked by news that Pfizer Inc. (NYSE:PFE) would pay $68 billion for Wyeth (NYSE:PFE) in one of the biggest pharma M&A deals in years. In addition, economic data on home sales and leading indicators topped expectations, fueling the rise in equities. At 10:06 a.m. ET, the Russell 2000 (NYSE:IWM) was up 11.42, or 2.57%, at 455.78.

Existing home sales came in at an annual rate of 4.74 million units, well above the forecast of 4.40 million. Sales were up 6.5%, compared with a slide of 9.4% in November. Lower mortgage rates spurred refinance and purchase activity, and it will be interesting to see if housing data continues to surprise, or if today’s news was a “flier.” Meanwhile, leading indicators came in at plus 0.3%, also much better than the projection for a slide of 0.3%. This marked the first rise in leading indicators since June 2008.

The news was Dow-30-heavy this morning, with five of 30 Dow stocks making big news. In addition to the Pfizer takeover, arguably the biggest wave came from Caterpillar Inc. (NYSE:CAT) as the maker of heavy equipment said that 2009 profits would shrink relative to 2008 and that the firm would slash some 20,000 jobs. Meanwhile, McDonald’s Corp. (NYSE:MCD) topped the profit forecast. Interestingly, even though the market was eager to embrace the Pfizer news, the potential breakup of the Dow Chemical/Rohm & Haas merger didn’t seem to phase investors.

Even though much of the early news today seemed soft (outside of the econ data), the market was holding together reasonably well. There was some thought that stocks were a little oversold following last week’s slide to the lowest weekly close since the November bear market lows were forged.

Looking at the chart picture, the market remains in a sideways consolidation range and bounce several times last week off dips toward 431 to 435. For today, important support will be at 435, then at 431; a breach of the latter could open . . .

United Rentals Inc (Nasdaq:URI), i2 Technologies Inc. (Nasdaq:ITWO) and Dynamex Inc. (Nasdaq:DDMX) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Diamond Foods Inc. (Nasdaq:DMND), AngioDynamics Inc. (Nasdaq:ANGO), Argon St Inc. (Nasdaq:STST), James River Coal Co. (Nasdaq:JRCC), Movado Group Inc. (Nasdaq:MOV) and Arena Resources Inc. (Nasdaq:ARD).

NB Capital Corp (Nasdaq:NBD), Horizon Lines (Nasdaq:HRZ) and SureWest Communications (Nasdaq:SURW) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AngioDynamics Inc (Nasdaq:ANGO), James River Coal Co (Nasdaq:JRCC), Triumph Group (Nasdaq:TGI), TEAM Inc (Nasdaq:TISI), Endwave Corp (Nasdaq:ENWV) and Columbia Banking System Inc (Nasdaq:COLB).

Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed higher early Friday, underpinned by positive surprises on economic data this morning, and by a pullback in crude oil prices. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 10.16, or 1.45%, at 712.55.

The Michigan sentiment survey extended this morning’s upside data surprise trend, beating the median forecast handily at 61.2 versus the projection of 56.4. Still, the number is low historically. Equities did produce a decent bounce when the sentiment figures came out just before 10:00 a.m. ET.

New home sales also topped the forecast, coming out at a pace of 530,000 annual units, compared with an expectation for 500,000. In addition, the May figure was revised upward, which kept the “feel good” data surprise intact heading into the rest of the trading session.

Ahead of the open, the June durable goods report came in well above expectations, with the headline figure up 0.8%, compared with the forecast for a dip of 0.3%. Although durables was a nice upside surprise for equities, the data is a little dated and durable seldom has a staying influence on stocks.

Crude oil futures pulled back shortly after the stock market open, which provided some mild support to equities. Crude oil dipped back below $124 dollars a barrel, which was down more than $2 from pre-opening levels. Despite the decline in crude prices, the U.S. dollar was still down slightly against the euro until the Michigan figure and new home sales data topped the forecast.

Broad market sectors on the rise this morning included airlines, home furnishings, coal, communications equipment, diversified REITS and housewares. Meanwhile, thrifts and mortgage finance firms were taking a hit. Other sectors on the decline included construction materials, apparel, diverse financial services, investment banks . . .

AngioDynamics Inc. (Nasdaq:ANGO) is up 17% in pre-market trading today after reporting fourth-quarter earnings after Thursday’s close that beat Wall Street estimates. For the fiscal fourth quarter ended May 31, net sales were $46.8 million, up from $40.9 million in the same quarter a year ago. Net income was $0.52 million, or $0.02 per share, compared with $2.9 million, or $0.12 per share, for the period a year earlier. The Queensbury, N.Y.-based company said, not including its settlement to VNUS Medical Technologies Inc. (Nasdaq:VNUS), AngioDynamics reported earnings per share of $0.19. Wall Street had been expecting earnings per share of $0.17 on revenues of $45.6 million.

“As we move into fiscal 2009, our organization has made substantial progress,” said Eamonn Hobbs, president and CEO, in a statement. “In addition to developing our strategy for commercializing our Irreversible Electroporation technology, we’ve begun the intial phases of our roll-out plan for our first IRE technology-based product. At the same time, we completed the acquisition of both the U.S. and U.K. assets of Diomed and eliminated the distractions and costs of ongoing litigation with VNUS. The result of these two developments is that we have substantially strengthened our position in the rapidly growing worldwide market for the treatment of varicose veins.”

In today’s pre-market trading, shares are at $16.52, up $2.38 from Thursday’s close.

Varicose veins are not only an unsightly situation that many women fret about as they age, they can also create a painful medical problem. The recent strides in treating them, though, have led to downright ugly legal battles.

Vascular Solutions, Inc. (Nasdaq:VASC), which makes an array of products used in vascular medicine, is one of the players helping to revolutionize treatment of varicose veins using laser technology. The potential market for this small cap is large: more than 60 million Americans have cardiovascular disease, now the leading cause of death in the United States

Vascular Solutions’ lineup falls in five categories: vein products, to treat conditions such as varicose veins; hemostasis products, to halt bleeding; extraction catheters, to remove blood clots primarily after a heart attack; specialty catheters; and access products, to manage puncture sites.

Though the Minneapolis, Minn.-based company is caught up in a slew of patent-infringement battles, it appears to be progressing toward routinely turning a profit.

Since Vascular Solutions introduced its first device in 2000, yearly revenue has climbed to $52.9 million last year from $6.2 million, and its product list now exceeds 40.

In 2007, a 22% revenue rise was matched by a 22% decline in its stock price, reflecting not only the overall stock market retrenchment but also the uncertainty from Vascular Solutions’ legal woes.

Innovation in vascular medicine is on a fast track: laser therapy has reduced varicose vein treatment to a simple outpatient procedure from surgery with a hospital stay, but the risk associated with this progress includes a legal one for device makers. It is a chicken-or-egg situation, to determine who . . .

Shares of AngioDynamics (Nasdaq:ANGO) are advancing this morning after the medical devices provider reported third-quarter earnings after Wednesday’s close that substantially beat the consensus on Wall Street. Results were in part helped by a one time gain from a settlement with Diomed concerning a patent infringement. The company also issued 2008 revenue guidance above analysts’ average estimate.

Shares gained 12.55%, or$1.45, to $13 at 10:15 a.m. ET. For detailed price information and recent news stories about AngioDynamics, click ANGO.  

The Russell 2000 (NYSE:IWM) futures are down and the small-cap index will open lower on news of a rise in weekly jobless claims.

Jobless claims for the week ended March 29 increased 38,000 to 407,000, from an upwardly revised 369,000 the preceding week. The new level is the highest reading in more than two years.

The Russell 2000 closed near opening levels, up slightly to 712.27, a gain of 1.62, or 0.23%. Look for support Thursday at 704, 700 and 695. Meanwhile, resistance comes in at 717, with the big test up at 725.

The Institute for Supply Management Non-Manufacturing survey this morning at 10:00 a.m. ET could spark a little volatility into the morning action, but most traders are already looking ahead to Friday’s big employment data, which could lead to uneven position-squaring type of action Thursday.

The stock market may have lost its legs, but VNUS Medical Technologies Inc. (Nasdaq: VNUS) is just getting started. With a minimally invasive technology that reroutes deoxygenated blood to the heart for a refill, the company is putting a new twist on varicose vein treatment.

What’s got VNUS charged up is its primary product line, the VNUS Closure system for varicose veins. The system, which includes the fast-selling ClosureFAST radiofrequency catheter, treats venous reflux disease — a progressive condition caused by malfunctioning vein valves that block the blood’s paths from legs to heart.

By definition, Closure closes the diseased veins, usually in outpatient procedures that require only local anesthesia, and re-channels blood to healthy veins so it can travel on to the heart. This beats vein stripping (ouch!), the standard way to treat varicose veins, which rivals strip mining as a maximally invasive practice.

VNUS claims that 25 million Americans have venous insufficiency, and that 72% of women and 42% of men in the United States will experience varicose veins by the time they hit 60. That doesn’t take into account the international market, which VNUS is starting to minimally — but resolutely — invade. VNUS also makes medical devices for other peripheral vascular diseases, including devices for use in peripheral arterial bypass and arteriovenous graft procedures.

Investors may not like surprises, but make an exception for VNUS: its surprises have been a delight. Revenues in the fourth quarter ended Dec. 31 outpaced analyst expectations, gaining 54% from the year-ago period. For 2007, revenues increased 37% to $70.9 million. For 2008, the company expects 25% organic growth, with revenues at $82 million to $86 million.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) failed to hold mid-morning gains and slipped into negative territory, as investors’ concerns about weak job reports sent stocks plunging. Before the opening, the Labor Department reported that payrolls plunged a greater-than-expected 63,000 in February, heightening recession fears and causing gyrations early in the session.

The Russell 2000 shed 0.40%, or 2.67 points, to 660.11. The Dow Jones Industrial Average lost 1.22%, or 146.7 points, to 11,893.69.

Economists were forecasting an increase in payrolls of 25,000 for February. Today’s data come on the heels of a larger-than-anticipated decline in payrolls in January of 17,000.

The unemployment rate was essentially unchanged at 4.8%, compared with 4.9% in January. Economists were projecting the unemployment rate to edge up to 5%.

Average hourly earnings rose by $0.05, or 0.3%, over the month, according to the Labor Department.

The Federal Reserve’s statement this morning that it will increase the amount of loans it makes to banks failed to calm concerns and buoy the market. Specifically, the central bank augmented auctions of four-week funds to banks to $50 billion from its original $30 billion planned for March 10 and March 24. The Fed also said it will avail an additional $100 billion through repurchase agreements.

In a statement, Fed officials also stipulated that the central bank will continue auctions for at least six months, and would increase the size of such auctions further if needed.

The Russell 2000 (NYSE: IWM) and the Dow failed to hold mid-morning gains and slipped into negative territory by midday, as investors’ concerns about weak job reports sent stocks plunging. Before the opening, the Labor Department reported that payrolls plunged a greater-than-expected 63,000 in February, heightening recession fears and causing gyrations early in the session.

At 2:45 p.m. ET, the small-cap index was down 6.95 points, or 1.05%, to 655.83. The Dow Jones Industrial Average (INDU) had sunk 194.89 points, or 1.62%, to 11,845.50.

Economists were forecasting an increase in payrolls of 25,000 for February. Today’s data come on the heels of a larger-than-anticipated decline in payrolls in January of 17,000.

The unemployment rate was essentially unchanged at 4.8%, compared with 4.9% in January. Economists were projecting the unemployment rate to edge up to 5%.

Average hourly earnings rose by $0.05, or 0.3%, over the month, according to the Labor Department.

The Federal Reserve’s statement this morning that it will increase the amount of loans it makes to banks failed to calm concerns and buoy the market. Specifically, the central bank augmented auctions of four-week funds to banks to $50 billion from its original $30 billion planned for March 10 and March 24. The Fed also said it will avail an additional $100 billion through repurchase agreements.

In a statement, Fed officials also stipulated that the central bank will continue auctions for at least six months, and would increase the size of such auctions further if needed.

The Russell 2000 (NYSE: IWM) and the Dow failed to hold their mid-morning gains, slipping back into negative territory by mid-day, as investors’ concerns surrounding the worst jobs report in five years continued to loom.

At 12:25 p.m. ET, the small-cap index was down 1.54 points, or 0.23%, to 661.24. The Dow Jones Industrial Average (INDU) had sunk 97.61 points, or 0.81%, to 11,943.11.

Before the open, the Labor Department reported that payrolls plunged a greater than expected 63,000 in February, heightening recession fears and causing gyrations early in the session.

Economists were forecasting an increase in payrolls of 25,000 for February. Today’s data come on the heels of a larger-than-anticipated decline in payrolls in January of 17,000.

The unemployment rate was essentially unchanged at 4.8%, compared with 4.9% in January. Economists were projecting the unemployment rate to edge up to 5%.

Average hourly earnings rose by $0.05, or 0.3%, over the month, according to the Labor Department.

The Russell 2000 (NYSE: IWM) and the Dow have reversed declines from earlier this session, after the Federal Reserve said it will inject liquidity into the market quelling investors’ concerns surrounding the worst jobs report in five years.

At 10:49 a.m. ET, the small-cap index was up 4.63 points, or 0.70%, to 667.41. The Dow Jones Industrial Average (INDU) had advanced 26.46 points, or 0.22%, to 12,066.85.

To ease the latest shocks to the economy, the Federal Reserve said this morning that it will increase the amount of loans it makes to banks. Specifically, the central bank augmented auctions of four-week funds to banks to $50 billion from its original $30 billion planned for March 10 and March 24. The Fed also said it will avail an additional $100 billion through repurchase agreements.

In a statement, Fed officials also stipulated that the central bank will continue auctions for at least six months, and would increase the size of such auctions further if needed.

Before the open, the Labor Department reported that payrolls plunged a more than forecasted 63,000 in the month of February, heightening recession fears and causing gyrations early in the session.

Economists were forecasting an increase in payrolls of 25,000 for February. Today’s data comes on the heels of a larger-than-anticipated decline in payrolls in January of 17,000.

For AngioDynamics, Inc. (Nasdaq: ANGO), access is everything. Its many medical devices enter your arterial network and wriggle on through the veins, pinpointing damage along the way. They may remove a varicose vein here, insert a post-surgical drain there, or vaporize an aberrant tumor here, there or most anywhere.   

AngioDynamics supplies radiologists, surgeons, and other physicians with devices for the minimally invasive diagnosis and treatment of cancer and peripheral vascular disease (PVD). The company is positioned to take advantage of the nascent PVD market and — through a recent acquisition — the promising interventional oncology market.

Canaccord Adams analyst Jason Mills estimates that more than 11 million Americans suffer from PVD — often characterized by a narrowing of vessels that carry blood to the legs, arms and certain organs. As people age, vascular problems accelerate. Growth of the multi-billion dollar PVD medical device market is expected at 8% to 10% annually.

Grab your Wikipedia. Mills says AngioDynamics’ portfolio of diagnostic, therapeutic and drug-delivery catheters targets several key PVD sectors, including angiography (imaging/diagnostics), image-guided vascular access (imaging and drug-delivery of chemotherapy drugs for cancer patients), venous disease (therapeutic ablation), thrombus removal (therapeutic drug delivery), hemodialysis catheters and interventional oncology (radiofrequency tumor ablation, resection, drug delivery).

If you followed that, you are ready for AngioDynamics’ kicker: RITA Medical Systems. RITA, purchased by AngioDynamics at the end of January 2007 for $220 million, specializes in radiofrequency ablation — a treatment option for patients with liver tumors and painful metastatic bone tumors. It is a medical technology that uses heat to destroy tumors in a less invasive way than traditional methods.

AngioDynamics, Inc. (Nasdaq: ANGO)
Queensbury, New York
http://www.angiodynamics.com/

52-week low / high: $15.68 / $27.08
Shares Outstanding:  24.02 million
Market Capitalization:  $474.91 million

Everyone from soccer moms wanting varicose veins erased to aging patients needing their clogged arteries cleared has found solutions from AngioDynamics, Inc. (Nasdaq: ANGO). The 19-year-old company makes a wide variety of medical devices that perform cosmetic procedures and others that play a life-saving role. The 550-employee company makes a laser and drug treatment for varicose veins and also makes devices that help deliver chemotherapy drugs.

Aging baby boomers are helping fuel demand for AngioDynamics’ cosmetic procedure services. In fiscal year 2007, ended June 2, 2007, the company’s revenue grew 43% to $112.2 million, from $78.5 million in fiscal 2006. The firm’s gross margin also rose to 59% during fiscal 2007, from 58% in 2006. Starting in the first quarter, the company changed its fiscal quarters to end on the last day of the calendar month.

“The demand for our products is increasing. Certainly the baby boomer generation aging and reaching a time in their lives where they’re going to need medical attention increases demand for our products,” CEO Eamomm Hobbs said in an October Forbes interview. “We’re the world leader in needle-based radio frequency ablation of cancerous tumors.”

Hobbs said the company will continue to grow through acquisitions and a “strong, innovative pipeline of products.”

In the recent fiscal first quarter, ended August 31, AngioDynamics sales soared to $37.5 million, slightly below analyst estimates of $37.8 million, but up 85% from $20.3 million a year earlier. The company’s quarterly profit rose to $2.4 million, or $0.10 per share, which was in line with Wall Street projections and up 25% from $1.9 million, or $0.12 per share, during the year-ago period. Excluding litigation and acquisition-related charges, the company has 24 consecutive quarters of profitability.

The company affirmed its fiscal 2008 revenue guidance of $170 million to $175 million. The company expects GAAP operating income in the range of $20 million to $22 million and GAAP earnings per share between $0.56 and $0.60. Wall Street analysts project $0.58 per share.

PVF Capital Corp. (Nasdaq: PVFC), SeaBright Insurance Holdings, Inc. (Nasdaq: SEAB) and Semitool, Inc. (Nasdaq: SMTL) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

After a difficult third quarter, investors and analysts appear to be re-gaining some confidence in AngioDynamics Inc. (Nasdaq: ANGO).

The Queensbury, N.Y.-based medical device firm’s stock shot up $1.20, or 7.4%, to $17.40 on the news this morning that SunTrust Robinson Humphrey had upgraded the stock from “Neutral” to “Buy.”

March was a difficult period for AngioDynamics. During the month, the company announced a $10.5 million loss in its fiscal third quarter ended March 3. Also in March, a jury in the Federal District Court in Boston ruled that AngioDynamics had unwillfully infringed on a patent held by DioMed Holdings (NYSE: DIO).

AngioDynamics’ stock price dropped 42% during the month, closing at $16.89 on March 30 compared with $24.01 on March 1.