Tag - Bwtr

The Russell 2000 (NYSE:IWM) fell for the first time this week on news of an unexpected decline in February orders for durable goods. The small-cap index lost 3.16 points, or 0.45%, to 702.11. The Dow Jones Industrial Average (INDU) was off 109.74 points, or 0.88%, to 12,422.86.

On a year-to-date basis, the Russell 2000 has shed 8.34%, while the Dow is down 6.35% and the S&P 500 has decreased 8.66%.

Stocks small and large opened in negative territory and never looked up on news before the start of trading that orders for manufactured durable goods fell 1.7% in February, according to the U.S. Census Bureau. Economists were . . .

Shares of Basin Water Inc. (Nasdaq:BWTR) are higher on news before the start of trading that the provider of systems for the treatment of contaminated groundwater has signed a 10-year agreement with California’s Salinas District to remove nitrates from one well site. The Rancho Cucamonga, Calif.-based company will provide the necessary equipment as well as operate and maintain the unit.

At 10:51 a.m. ET, the stock was up $0.33, or 6%, to $5.85.

The Russell 2000 (NYSE: IWM) futures are down on news of unexpectedly high inflation and the small-cap index will open in the red.

Consumer prices increased 0.8% in November, according to the U.S. Labor Department. Economists were expecting to see a rise of 0.6% following October’s increase of 0.3%.

That’s the biggest jump in over two years. Pulling inflation higher were energy and transportation costs, which increased 5.7% and 2.9% respectively.

The core consumer price index, which factors out the cost of food and energy, gained 0.3%. The forecast called for an increase of 0.2%.

The rise in inflation makes it less likely that the U.S. Federal Reserve will move to lower its target interest rate. The Fed has said more than once that fighting inflation is its primary task.

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:

• BioMimetic Therapeutics, Inc. (BMTI), up 15% on news of a successful trial of a bone graft.
• China Sunergy Co., Ltd. (CSUN), up 11% on news of an agreement to supply solar cells.
• Basin Water, Inc. (BWTR), up 9%.

Biggest percentage losers:

• QC Holdings, Inc. (QCCO), down 11%.
• CDC Corp. (CHINA) down 9% on news it swung to a third-quarter loss.
• DRD Gold Ltd. (DROOY) down 6%.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices declined in the final minutes of trading as investors got nervous ahead Thursday’s inflation data. The small-cap index lost 6.72 points, or 0.85%, to 782.43. The Dow Jones Industrial Average (INDU) fell 83.16 points, or 0.62%, to 13,223.93.

On a year-to-date basis, the Russell 2000 has retreated 0.63%, while the Dow has risen 6.01% and the S&P 500 has added 3.81%.

Stocks began the day little changed on news that U.S. retail sales growth slowed to 0.2% in October, following an upwardly revised increase of 0.7% in September. The result was in line with economists’ projections but indicates that consumers have become a little more reluctant to spend money due to declining home values and higher gasoline prices.

Most economists expect that fourth-quarter economic growth will shift into lower gear. Consumption is about 70% of gross domestic product.

News on the inflation front was rosier. The U.S. Labor Department reported that the producer price index added a miniscule 0.1% in October, after a jump of 1.1% in September. The core index, which excludes food and energy, stayed put after rising 0.1% the previous month.

Economists were expecting both measurements to rise 0.2%. Producer prices measure the average changes in prices received by domestic producers for their output.

Small-cap stocks moved up out of the gate but then moderated and generally stayed just below the closing level today, while the Dow was trending higher. But the bulls lost their footing within minutes of the closing, when investors apparently adopted a cautious posture ahead of Thursday’s inflation data.

The Labor Department is expected to report that the consumer price index for October increased 0.3%, the same as in October. A higher-than-expected jump in prices will most likely rule out the U.S. Federal Reserve cutting its target interest rate during the remainder of 2007.

The Russell 2000 (NYSE: IWM) is trading choppy but hovering close to the flat line with two hours left in the session. At 1:59 p.m. ET, the small-cap index had lost 2.15 points, or 0.27%, to 787. The Dow Jones Industrial Average (INDU) was up 4.87 points, or 0.04%, to 13,302.22.

Small-cap stocks began the day in positive territory on news that retail sales growth in October slowed but inflation remained in check.

The U.S. Commerce Department reported before the start of trading that U.S. retail sales growth slowed to 0.2% in October, following an upwardly revised increase of 0.7% in September. The result was in line with economists’ projections and a sign that American consumers have become a little more reluctant to spend money.

Meanwhile, the U.S. producer price index added a miniscule 0.1% in October, according to the Labor Department. Producer prices rose 1.1% in September. The core index, which excludes food and energy, stayed put after rising 0.1% in September.

Economists were expecting both measurements to rise 0.2%.

The Russell 2000 (NYSE: IWM) is flat on news of a slowdown in retail sales for October and despite a lower-than-expected increase in producer prices.

At 10:15 a.m. ET, the small-cap index was up 0.49 points, or 0.06%, to 789.64. The Dow Jones Industrial Average (INDU) was up 195.95 points, or 0.01%, to 13,309.04.

Growth in U.S. retail sales slowed to 0.2% in October, the Commerce Department reported before the start of trading. That’s in line with economists’ forecasts but below the upwardly revised increase of 0.7% in September.

The numbers indicate that consumers have become a little more reluctant to spend money due to declining home values and higher gasoline prices. As a result, economic growth will most likely moderate in the fourth quarter of 2007.

Consumption is about 70% of gross domestic product.

Turning to inflation, the U.S. producer price index, which measures the average changes in prices received by domestic producers for their output, increased 0.1% in October. The Labor Department also reported that the core index, which excludes food and energy, stayed put after rising 0.1% in September.

Economists were expecting both measurements to rise 0.2%. The data tells us that inflation remained in check in October.

Overseas, London’s FTSE 100 index added 0.4%, while Tokyo’s Nikkei 225 rose 2.5%.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Greater Community Bancorp. (GFLS) up 37% on news it will be bought by Oritani Financial Corp. (ORIT) for $187 million.
• Canadian Solar Inc. (CSIQ), up 21% on news it swung to a third-quarter profit.
• 3SBio Inc. (SSRX), up 16% on news of a rise in third-quarter earnings.

Biggest percentage losers:

• Basin Water Inc. (BWTR), down 18% on news of a third-quarter loss.
• Oritani Financial Corp. (ORIT), down 15% on news it will buy Greater Community Bancorp (GFLS) for $187 million.
• GateHouse Media Inc. (GHS) down 13% on news of a third-quarter loss.

The Russell 2000 (NYSE: IWM) has picked up speed and is outpacing the other major U.S. indices this afternoon. At 2:06 p.m. ET, the small-cap index had advanced 1.86 points, or 0.24%, to 774.24. The Dow Jones Industrial Average (INDU) was up 32.44 points, or 0.25%, to 13,075.18.

Investors are modestly bullish following news that banking giants Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC) and JPMorgan Chase & Co. (NYSE: JPM) have agreed to create a structured fund of at least $75 billion to help revive the short-term debt market, according to a report by The New York Times after the start of trading. The fund could be operational within a couple of weeks.

That news helped lift financial shares and send big- and small-cap stocks on an upward trajectory.

Otherwise, the day began quietly, as the bond market is closed and no major economic releases are scheduled as Americans honor Veterans Day.

International Business Machines Corp. (NYSE: IBM) made the headlines on news that it will buy business intelligence software maker Cognos Inc. (TSE: CSN) for $5 billion, while shares of online broker E*Trade Financial Corp. (Nasdaq: ETFC) are in dire straits on news of an analyst downgrade and the possibility of bankruptcy.

The Russell 2000 (NYSE: IWM) is gaining ground after opening little changed this morning as Veterans Day leaves investors with little news to analyze.

At 10:02 a.m. ET, the small-cap index had added 1.93 points, or 0.25%, to 774.31. The Dow Jones Industrial Average (INDU) was up 22.60 points, or 0.17%, to 13,065.34.

Corporate deal-making is coming into focus this morning, following an announcement by International Business Machines Corp. (NYSE: IBM) that it will buy Cognos Inc. (TSE: CSN), a Canadian maker of business intelligence software, for $5 billion.

The offer was expected, as Armonk, N.Y.-based IBM’s rivals had previously also made purchases of intelligence software companies.

Meanwhile, online broker E*Trade Financial Corp. (Nasdaq: ETFC) was downgraded by Citigroup Inc. (NYSE: C) and the possibility of bankruptcy was raised.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Globecomm Systems Inc. (GCOM), up 15% on news of a contract with the U.S. Army.
• Dice Holdings Inc. (DHX), up 11%.
• ChemGenex Pharmaceuticals Ltd. (CXSP), up 10%.

Biggest percentage losers:

• Alto Palermo S.A. (APSA), down 24%.
• Basin Water Inc. (BWTR), down 13%.
• ExlService Holdings Inc. (EXLS) down 9%.

It’s not the Wild West anymore; it’s the Arid West, as in the well’s getting low and what’s left in it is pure poison. Basin Water, Inc. (Nasdaq: BWTR) is out to fix all that, stripping toxins from groundwater and making drinking water safe. Cleaning up the Old West was never like this.

Basin Water and its many competitors have the law on their side. The Environmental Protection Agency and state authorities have established maximum contaminant levels, or MCLs, to meet safety standards. Responsible drinking doesn’t include arsenic, nitrate and perchlorate, found more and more in underground aquifers as the U.S. population and industries grow.

Basin, though, has a treatment others don’t: an ion-exchange technology that cleanly and cost-effectively reduces groundwater contaminant levels. The company sells its system to water suppliers that include utilities, cities, municipalities, special districts, real estate developers and others. Customers include American Water, Aqua America, Inc. (NYSE: WTR), California Water Service Group and American States Water Co. (NYSE: AWR).

Rancho Cucamonga, Calif.-based Basin wants to expand nationally—contaminated groundwater is most everywhere—but its key target is the southwestern United States, which Basin calls the Arid West. It’s the region with the highest population growth and a chronic water shortage. The population of California and Arizona grew by about 5.6 million between 1990 and 2000, and is expected to increase by another 12 million in the next 20 years, the company says in its annual report.

The Arid West gets most of its drinking water from surface and groundwater, but surface water has little room for expansion, due to expense of procurement; it often must travel miles before reaching markets. Desalination carries a lot of energy costs, and other factors also make it unattractive, according to Basin. Instead, groundwater serves as the primary drinking water source for more than half of the United States. It is dependable for water providers, and cleaning it up is a market area of big growth.

But don’t drink the groundwater before it’s been treated. It’s got arsenic, nitrate and perchlorate—toxins, certainly, but to Basin a chance to outduel opponents with its leading ion-exchange technology. Other methods include coagulation microfiltration, media absorption, reverse osmosis and electrodialysis reversal. But many of these are costly or waste-producing, and they are generally designed for large industrial installations rather than wellhead treatment.

Avici Systems Inc. (Nasdaq: AVCI), Synalloy Corp. (Nasdaq: SYNL) and Local.com Corp. (Nasdaq: LOCM) were among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

Shares of Basin Water, Inc. (Nasdaq: BWTR) continued to soar mid-day Wednesday after the water provider announced it was selected to provide a nitrate removal treatment system for delivering reliable, high quality drinking water to the City of Pomona in Los Angeles County, CA.

Basin Water said it will use its ion exchange technology to treat over one million gallons per day in LA and will reduce high nitrate levels to meet state and federal regulations.

Shares of Basin Water climbed 9.97%, or $1.02, to $11.25 at 12p.m. ET.