Tag - Avgn

Small-cap stocks gave back a sizable chunk of Monday’s big rally early on today, pressured by concerns that corporate profits are already sloppy and will be further strained by a weak economy going forward. Today’s small-cap gainers are Hexcel (NYSE:HXL), Jakks Pacific (Nasdaq:JAKK) and Drybulk (NYSE:OCNF).

Other Market Watch highlights today included:

• Pharma could be one of the better-performing sectors to watch today, and has seen a few strong performers in the small-cap arena in recent days as well.  
• Commodities in general were likely to be on the defensive as the U.S. dollar was soaring against the euro, climbing 1.25%.  
• The lift small caps enjoyed Monday from the energy sector appeared on the wane today, with crude oil prices slipping on concerns about demand
• With no economic reports on tap today, the market will focus on the wave of quarterly earnings coming in.  

Small Cap Gainers:

• Hexcel reported third-quarter profit that surged 91% on sales for defense programs and wind turbine blades. See (NYSE:HXL).  
• Jakks Pacific reports 14% increase in Q3 bottom-line on tax benefit and higher sales, reaffirmed full-year guidance. See (Nasdaq:JAKK).  
• OptionsXpress posts Q3 net income that beat the Street, but edged down from a year-ago.  See (Nasdaq:OXPS).  
• JDA Software Group posts third-quarter results that handily beat the Street. See (Nasdaq:JDAS).  
• Drybulk shipper OceanFreight declares $0.77 dividend for Q3, shares jump 21%. See (Nasdaq:OCNF).

Small Cap Losers:

• Highveld Steel & Vanadium Corporation Ltd. is down 15% to fresh move lows. See (Nasdaq:HSVLY).  
• Avigen plunges 70% after intermediate trial for treatment of spasticity associated with multiple sclerosis failed. See (Nasdaq:AVGN).
• Net Servicos de Comunicacao saw the top-line increase on lower subscription rates, operating costs jumped 26%, SG&A increased 37%. (Nasdaq:NETC).  
• ENGlobal expects to report Q3 results below the consensus on Wall Street. See (NYSE:ENG).
• Twin Disc said fiscal Q1 earnings plunged due to lower volumes, unfavorable product mix and higher material costs. See (Nasdaq:TWIN).  

The Russell 2000 (NYSE: IWM) futures are pointing up and the small-cap index will rise on news of strong September retail sales.

Retail sales for September increased 0.6%, the Commerce Department reported. That’s more than the projected 0.2% and a sign that the American consumer is alive and well. On Thursday retailers reported generally gloomy same-store sales for September.

Retail sales excluding motor vehicles and parts added 0.4%, outpacing analysts’ forecasts of 0.3%.
In other economic news, the U.S. Labor Department reported that producer prices for September increased 1.1%, the largest gain since February.

However, prices for goods excluding foods and energy, a key measure of core inflation, moved up just 0.1%. Core prices were projected to increase 0.2%.

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:

• Avigen Inc. (AVGN), up 12%.
• The Children's Place Retail Stores, Inc. (PLCE), up 11%.
• Verenium Corp. (VRNM), up 9%.

Biggest percentage losers:

• AgFeed Industries Inc. (FEED), down 13%.
• Thomas Group Inc. (TGIS), down 9%.
• Kosan Biosciences Inc. (KOSN), down 8%.