Tag - Becn

XenoPort Inc. (Nasdaq:XNPT), Tessera Technologies (Nasdaq:TSRA) and Franklin Electric Co Inc. (Nasdaq:FELE) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Central European Media Enterprises Ltd. (Nasdaq:CETV), Skyworks Solutions Inc. (Nasdaq:SWKS), PowerShares FTSE (Nasdaq:PRFZ), James River Coal Co. (Nasdaq:JRCC), Beacon Roofing Supply Inc. (Nasdaq:BECN) and Umpqua Holdings Corp. (Nasdaq:UMPQ).

Provider of roofing materials Beacon Roofing Supply, Inc. (Nasdaq: BECN) this morning posted a wider-than-expected loss in its fiscal second quarter and reported revenues that fell below the Street’s view.

The small cap attributed its lackluster results to a continued decline in residential construction activities in most markets and lower levels of residential remodeling and reroofing in some markets.

Shares slid 4%, or $0.45, to $10.45 ahead of the opening bell. For detailed price information and recent news stories about Beacon Roofing, click BECN.

The Russell 2000 (NYSE:IWM) futures are rising and the small-cap index will open in the green despite news of bank writedowns.

Stocks small and large are poised for a bullish opening on news this morning that Swiss banking giant UBS AG (NYSE:UBS) has announced more writedowns stemming from the subprime mortgage mess.

However, investors are taking that as a good sign because the bank will receive help from four others, an indication that it will get through the current rough patch.

The Russell 2000 generated a modest rally in Monday’s quarter-ending session, finishing the month at a higher level than where it began for the first time since October. For the day, the Russell gained 4.79, or 0.70%, to 687.97.

In this morning’s trading, support comes in at 681, then at 674 and 667. Meanwhile, resistance is at 695, 705 and 714. The ISM Manufacturing Survey at 10:00 a.m. ET could spark some volatility, while vehicle sales will be reported throughout the session.

Beacon Roofing Supply, Inc. (Nasdaq: BECN) CEO Bob Buck said the distributor of roofing material’s business decline has slowed but will not make a specific prediction. Buck made the comments during a morning conference call.

“It seems to have slowed but we’d rather not make a prediction and that’s why we are so focused on cost reductions for fiscal 2008,” Buck said.

Buck said gross margins remain pressured in most regions and across all of Beacon’s product groups, but that gross margins have “settled down somewhat” sequentially, as compared to the third quarter. Beacon’s non-residential segment is the most stable, he said.

“[The commercial segment] is still stronger than residential and our suppliers remain optimistic about 2008 on their various earnings calls that have occurred over the last several months,” Buck said.

Beacon believes it can achieve the midpoint of current sales and profit estimates for fiscal 2008. Analysts, on average, expect fiscal 2008 earnings of $0.60 per share on $1.76 billion in revenue.
 
“Please understand our nature is optimism but our business plan is based upon realism,” Buck said. “By that, I mean this: we really believe we can achieve the midpoint of current sales and profit estimates for 2008. It could be achieved with an industry recovery in the second half of the year or it could be achieved by watching every expense, every day, particularly at our shelter regions.”

Before the opening, Beacon recorded fourth-quarter net income of $11.3 million, or $0.25 per share, in line with analyst estimates and compared with $14.6 million, or $0.32 per share, a year earlier. Quarterly sales rose 14.5% to $493.8 million, above Wall Street projections of $480.11 million and from $431.3 million during the year-ago period.

The Russell 2000 (NYSE: IWM) futures are pointing up and the small-cap index will likely open in positive territory.

With no major economic news coming out today, investors will focus on mergers, acquisitions and corporate earnings.

Grabbing the headlines this morning is news that Citigroup Inc. (NYSE: C) suffered a 57% drop in its third-quarter profit. New York-based Citigroup, the largest U.S. bank, reported a net income of $2.38 billion, or $0.47 per share, compared with $5.51 billion, or $1.10 a share, during the same quarter a year earlier.

The financial giant blamed losses from subprime and leveraged loans, fixed-income trading and its U.S. consumer business for the decline in earnings.

Elsewhere, industrial and consumer products manufacturer Danaher Corp. (NYSE: DHR) announced that it will buy measurement equipment maker Tektronix Inc. (NYSE: TEK) for $2.85 billion. The deal is expected to close in the fourth quarter of 2007.

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:

• SORL Auto Parts, Inc. (SORL), up 12%.
• Fuel Tech Inc. (FTEK), up 10%.
• Beacon Roofing Supply, Inc. (BECN), up 7%.

Biggest percentage losers:

• City Telecom (H.K.) Ltd. (CTEL), down 6%.
• BankUnited Financial Corp. (BKUNA), down 5%.
• American Railcar Industries, Inc. (ARII), down 3%.

Edge Petroleum Corp. (Nasdaq: EPEX), Noven Pharmaceuticals, Inc. (Nasdaq: NOVN) and China Shenghuo Pharmaceutical Hldg, Inc. (AMEX: KUN) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

McCormick & Schmick's Seafood Restaurant (Nasdaq: MSSR), Green Plains Renewable Energy Inc. (Nasdaq: GPRE) and Golden Cycle Gold Corp. (Nasdaq: GCGC) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers: