Tag - Caas

Watching the daily Top Gainers list for what I like to call "investment-grade" companies is a worthwhile exercise. Over the last few weeks, we've uncovered a few stocks that would have made money. We found REITs like Maguire Properties (NYSE:MPG), Strategic Hotels & Resorts (AMEX:BEE), and Roberts Realty Investors (AMEX:RPI).

Oil & Gas stocks like Tri-Valley (AMEX:TIV), American Oil & Gas (AMEX:AEZ), Rexx Energy (Nasdaq:REXX), RAM Energy (Nasdaq:RAME) and Pioneer Drilling (AMEX:PDC).

We've found nice looking technology stocks in Trident Microsystems (Nasdaq:TRID) and Ramtron International (Nasdaq:RMTR). I find Ramtron especially interesting, because I profiled the company in a recent Special Report called The 10 Most Profitable Small Cap Stocks for 2010 for members of my advisory service SmallCapInvestor PRO.

That report was released on September 1, when Ramtron was a $1.64 stock. Today, it trades for $2.34 and has been as high as $2.60. (Click HERE for more about Ramtron and the 9 other stocks in my report.)

We've watched IPOs move higher, which is definitely a trend worth following. This week's IPOs Mistras Group (NYSE:MG) and Verisk Analytics (Nasdaq:VRSK) are basically flat, which is an aberration. According to Wall Street Journal data, there's been 34 IPOs in 2009. And 23 of them are up. That's almost exactly a 66% win rate.

Another sector theme that's showing up today is Chinese stocks...

China Automotive Systems Inc. (Nasdaq:CAAS), HFF Inc. (Nasdaq:HF) and China TransInfo Technology Corp. (Nasdaq:CTFO) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AEP Industries Inc. (Nasdaq:AEPI), i2 Technologies Inc. (Nasdaq:ITWO), John Bean Technologies Corp. (Nasdaq:JBT), Horsehead Holding Corp. (Nasdaq:ZINC), IEC Electronics Corp. (Nasdaq:IEC) and Crocs Inc. (Nasdaq:CROX).

Oncothyreon Inc. (Nasdaq:ONTY), Telestone Technologies Corp. (Nasdaq:TSTC) and Tessco Technologies Inc. (Nasdaq:TESS) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Nicholas Financial Inc. (Nasdaq:NICK), Sharps Compliance Corp. (Nasdaq:SMED), Isramco Inc. (Nasdaq:ISRL), Voltaire Ltd. (Nasdaq:VOLT), and China Automotive Systems Inc. (Nasdaq:CAAS).

Abaxis Inc. (Nasdaq:ABAX), Lithia Motors Inc. (Nasdaq:LAD) and Orthovita Inc. (Nasdaq:VITA) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: MedQuist Inc. (Nasdaq:MEDQ), Destination Maternity Corp. (Nasdaq:DEST), China Automotive Systems Inc. (Nasdaq:CAAS), Isilon Systems Inc. (Nasdaq:ISLN), Nicholas Financial Inc. (Nasdaq:NICK) and Symmetricom Inc. (Nasdaq:SYMM).

On China's vast system of roads and highways, where traffic was once almost exclusively made up of bicycles, two-wheel modes of transport are increasingly sharing the pavement with cars of every stripe—from a wide range of American, European and Japanese imports to a host of affordable offerings from homegrown automakers.

In fact, the automotive industry in China has grown by leaps and bounds in the past several years, thanks to the country's 2001 entry into the World Trade Organization and its phenomenal economic progress. Annual sales of passenger vehicles doubled between 2003 and 2007, driving China past Japan into the spot of the world's second-largest vehicle market after the United States.

While the global auto industry is being battered by sagging economic conditions that have caused consumers to put big-ticket items on the back burner, China's vehicle sales continue to increase, albeit at a slower pace than in previous years. And in one segment of the automotive sector, a domestic player is accelerating fast, grabbing market share and expanding its alliances with automakers to cash in on the automotive boom. Meet China Automotive Systems, Inc. (Nasdaq:CAAS), a top supplier of automotive steering systems and components to Chinese automakers and, to a lesser extent, the American market...

China Automotive Systems Inc. (Nasdaq:CAAS) shares are up in pre-market trading today after the China-based company announced it had signed a deal with Dongfeng Peugeot Citroen Automobile Company Ltd. Beginning this month, China Automotive’s car parts subsidiary will ship 3,000 units of power steering gears per month to Dongfeng. China Automotive Systems said Dongfeng produced more than 213,000 vehicles in 2007; about 207,000 of those were sold.

Shares of China Automotive Systems rose to $6.00 in pre-market trading, up 3.45% or $0.20 from Friday’s close.

China Automotive Systems Inc. (Nasdaq:CAAS) rose 8% Monday after announcing its preliminary second-quarter earnings. The China-based company said it expects second-quarter revenue to be $52 million, compared with $36 million in same quarter a year ago. Earnings per share are expected to be between $0.18 and $0.22, compared with $0.10 per share a year ago. The company said its profit was due to strong cash flow from operations and renewed contracts with key customers. At midday Monday, shares of China Automotive Systems were at $5.94, about $0.42 or 7.6% over Friday’s close.

Small-cap shares edged higher on the opening, supported by a reversal rally that was triggered ahead of the opening by a tame inflation report. At 9:53 a.m. ET, the Russell 2000 (NYSE:IWM) was up 3.24, or 0.44%, at 740.09.

The CPI (Consumer Price Index) headline figure came in at 0.2%, which was below the forecast of 0.3%. The “core” reading, which excludes food and energy costs, came in at 0.1%, also below the median forecast of 0.2%. The CPI report suggested inflation wasn’t raging out of control, which sparked a reversal in fortune for equities in the overnight session, and the buyers remained in place for the regular opening.

“Headline consumer inflation rose moderately in April because a sharp rise in food prices was partially offset by no change in energy costs,” Steven Wood, chief economist with Insight Economics, said in an email. “Meanwhile, core consumer inflation rose only slightly with largely offsetting price accelerations and decelerations in the various expenditure categories. Although energy prices are expected to rise sharply over the next several months, weakening economic activity over the next several quarters should help cap the gains in core inflation. Although the Fed is currently on hold, at least temporarily, they have heaved a collective sigh of relief with the release of this data,” Wood said.

The market appeared to take away a perception of a hawkish tone from the array of Federal Reserve speakers that were out and about Tuesday, and the CPI . . .

Shares of China Automotive Systems, Inc. (Nasdaq:CAAS) are leaping in pre-market trading after the Chinese power steering components and systems supplier reported robust first-quarter results this morning. The company saw earnings rocket 157%, while revenues surged 46% in the quarter on account of high sales volume growth from accelerating sales in its commercial vehicle sector. China Automotive said it also experienced strong growth momentum in its passenger vehicle sector, as its brand gained traction in the China market.

Shares jumped 25%, or $1.37, to $6.85 in pre-market trading. For detailed price information and recent news stories about China Automotive Systems, click CAAS.

The Russell 2000 (NYSE:IWM) opened in the red as the momentum from Monday’s rally failed to carry over.

At 10:06 a.m. ET, the small-cap index had declined 2.84 points, or 0.40%, to 698.44. The Dow Jones Industrial Average (INDU) was down 73.51 points, or 0.59%, to 12,475.13.

Small-cap stocks opened in positive territory but quickly lost ground. The bears were helped by news before the start of trading that prices of existing U.S. single-family homes fell in January. The Standard & Poor’s/Case-Shiller home price index showed a decline of 2.4% from December 2007, indicating that . . .

Power steering components and systems supplier in China China Automotive Systems, Inc. (Nasdaq:CAAS) reported this morning that fourth-quarter revenues grew 36.3%, while net income surged 52.6%, as the company said it augmented market share, established economies-of-scale and expanded its customer portfolio. Shares climbed 11.5%, or $0.60, to $5.80 in pre-market trading.

For detailed price information and recent news stories about China Automotive Systems, click CAAS. 

The Russell 2000 (NYSE: IWM) futures have gained, even though the spread has narrowed, and the small-cap index will likely open in positive territory.

Small-cap stocks started out the week with a bang, with the Russell 2000 soaring 19.86, or 2.91%, to 701.28 on Monday. The surge lifted the index to the highest point since late February, and also provided some nice upside support for bullish patterns visible on weekly charts.

Look for resistance Tuesday at 705, 714 and 724. Meanwhile, support is just below the market at 694, 685 and 680. There could be some fireworks in the morning coinciding with the 10:00 a.m. ET release of consumer confidence data.

The Russell 2000 (NYSE: IWM) posted solid gains today as investors looked ahead to Tuesday’s Fed meeting and welcomed news of a cash injection into a major bank. The small-cap index advanced 5.68 points, or 0.72%, to 791.20. The Dow Jones Industrial Average (INDU) moved up 101.45 points, or 0.74%, to 13,727.03.

On a year-to-date basis, the Russell 2000 is up 0.48%, while the Dow has added 10.04% and the S&P 500 has climbed 7.01%.

Only the bears showed up today as investors focused their attention on the U.S. Federal Reserve’s Tuesday policy meeting. The Fed is widely expected to lower the federal funds rate, the rate at which commercial banks make overnight loans to each other, to give the economy a boost and ease financial strains.

On Oct. 31, the central bank lowered its target interest rate to 4.5% from 4.75%. During the preceding meeting on Sept. 18, the Fed voted to lower the rate to 4.75% from 5.25%.

The upbeat mood was also due to news that UBS AG (NYSE: UBS) has received a cash injection of about $11.5 billion dollars after the Swiss financial services giant became the latest casualty of the subprime mess.

The bank announced today that it has suffered $10 billion in write-downs due to bets placed on securities backed by subprime mortgages. Consequently, the Zurich-based company expects to report a loss for the fourth quarter and possibly the entire 2008 year.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices opened with modest gains.
 
At 10:34 a.m. ET, the small-cap index had added 6.08 points, or 0.77%, to 791.60. The Dow Jones Industrial Average (INDU) was up 102.75 points, or 0.75%, to 13,728.33.

The futures were pointing up and stocks are rising as investors anticipate the U.S. Federal Reserve’s policy meeting on Tuesday. The Fed is widely expected to lower the federal funds rate, the rate at which commercial banks make overnight loans to each other, from the current level of 4.5%.

The ongoing, some would say intensifying, slump in the U.S. housing sector, combined with slowing growth in business spending and manufacturing, point to a decline in economic growth.

Factor in the credit squeeze, and you’ll begin to understand why many believe the Fed has no choice but to lower its target interest rate to give the economy a boost and ease financial strains.

China Automotive Systems, Inc. (Nasdaq: CAAS) announced a contract with automotive parts supplier R&B, Inc. The contract is China Automotive Systems’ first aftermarket supply contract in the United States.

“This is an important step for China Automotive Systems. As a provider of a key safety-related component, we are very proud that we have passed the strict testing and all evaluation processes by a major U.S. aftermarket supplier,” CEO Qizhou Wu said in a statement. “We are confident that our products quality, reliability and favorable cost advantages will continue to attract more customers in North America.”

Specific terms of the deal were not disclosed.

In pre-market trading, CAAS shares are flat at $7.03. Over the last 52 weeks, shares have ranged from $5.72 to $13.39.

The Russell 2000 (NYSE: IWM) futures are slightly higher but the small-cap index will mostly likely be weighed down.

Housing starts surprisingly increased 3% in October, but the slump in the U.S. housing sector looks to continue.

The Census Bureau reported this morning that builders broke ground on 1.229 million homes at an annual rate, above the 1.193 million figure reported in September. That’s bullish news, surprising economists looking for a modest drop.

However, buildings permits, a sign of future construction, fell 6.6% to an annual rate of 1.178 million. That’s the lowest level in more than a decade and a sign that the housing woes will continue.

In other news, investment bank Goldman Sachs Group, Inc. (NYSE: GS) warned in a report that U.S. housing prices are likely to continue falling, dragging down the economy and increasing write-downs on securities based on residential mortgages

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:

• Restoration Hardware Inc. (RSTO), up 15% on news Sears Holdings Corp. (SHLD) has bought a stake in the company.
• China Automotive Systems, Inc. (CAAS), up 10%.
• Marchex Inc. (MCHX), up 5%.

Biggest percentage losers:

• MTC Technologies Inc. (MTCT), down 5%.
• Callidus Software Inc. (CALD) down 3% on news the CEO was hired by Microsoft Corp. (MSFT).
• NGAS Resources, Inc. (NGAS) down 3% on news that an offering of its 4.2 million common shares to certain investors has been priced at $6 a share.

China Automotive Systems, Inc. (Nasdaq: CAAS) is up after Yu Shengbin, the auto parts maker’s senior vice president, disclosed in a Tuesday regulatory filing he is selling 40,000 shares of common stock. In a report filed with the Securities and Exchange Commission, Shengbin reported selling shares on Thursday at prices between $9.50 and $9.65 apiece.

In midday trading, CAAS shares are up 9.84%, or $0.88, at $9.82. Over the last 52 weeks, shares have ranged from $6 to $13.39.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are higher on news of higher-than-expected U.S. retail sales in July.

At 10:06 a.m. ET the Russell 2000 had added 8.66 points, or 1.10%, to 797.44. The Dow had added 68.12 points, or 0.51%, to 13,307.66.

Retail sales in July added 0.3% to a seasonally adjusted $376.1 billion, the U.S. Census Bureau reported this morning. That’s above the projected increase of. 0.2% and an improvement over June’s drop of 0.7%.

The increase was evident in almost all categories except sales of automobiles and car parts, which declined 0.2%. Excluding autos, retail sales expanded 0.4%.

On a year-over-year basis, retail sales in July were up 3.2% compared with the same month on 2006. The only categories posting a decline were sales of building materials and gardening supplies, as well as department store sales.

Elsewhere, the European Central Bank announced that it has injected $65 billion into money markets to boost liquidity, its third consecutive business day of interventions.
Motivated by similar concerns, the Bank of Japan announced that it has added $5.1 billion, while South Korea’s finance ministry said that it is ready to supplant funds if necessary.

The following are the most actively traded company's with market capitalizations under $500 million:

Shares of China Automotive Systems, Inc. (Nasdaq: CAAS) got a boost this morning in pre-market trading after the Chinese supplier of power steering components and systems reported robust second quarter results above the Street and up from year-ago levels.

For the three months ended June 30, China Automotive recorded net income of $2.5 million, or $0.10 per fully diluted share, while an analyst polled by Thomson Financial was expecting earnings of $0.05 per share. The current quarter’s bottom line compares with last year’s net income of $0.8 million, or $0.03 per fully diluted share.

China Automotive booked net sales of $36.3 million for the second quarter above the anticipated revenue of $32.67 million the Street was expecting. Revenue for the quarter also increased from a level of $24.7 million in the second quarter of 2006.

Shares of China Automotive jumped 20.43%, or $1.42, to $8.37 in pre-market trading.

Accredited Home Lenders Holding Co. (Nasdaq: LEND), Great Wolf Resorts, Inc. (Nasdaq: WOLF) and China Automotive Systems, Inc. (Nasdaq: CAAS) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $500 million:

The major indices continue to trade below the flat line this afternoon, while the price of oil has risen sharply.  Among small caps, shares of CabelTel International Corp. (AMEX: GBR) are sagging on news of a wider quarterly loss, while China Automotive Systems, Inc. (Nasdaq: CAAS) said it will supply parts to Volkswagen.

At 2:28 p.m. ET the Russell 2000 had lost 3.69 points, or 0.45%, to 816.51.  The Dow Jones Industrial Average had shed 2.92 points, or 0.02%, to 13,484.61.

The following are the most actively traded companies in pre-market trading among those with market capitalizations under $500 million: