Pacholder High Yield, TransMontaigne Partners and Chase Corp among 52-week lows
Pacholder High Yield Fund Inc. (Nasdaq:PHF), TransMontaigne Partners L.P. (Nasdaq:TLP) and Chase Corp. (United States) (Nasdaq:CCF) are among the among 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: PharmaNet Development Group Inc. (Nasdaq:PDGI), AirMedia Group Inc. (Nasdaq:AMCN), Entergy Arkansas, Inc. (Nasdaq:EHA), ExlService Holdings Inc. (Nasdaq:EXLS), Macquarie Infrastructure Co LLC (Nasdaq:MIC) and GSC Investment Corp. (Nasdaq:GNV). Here are the among 52-week lows among small caps:
Chase Corp, Entergy Mississippi 6% Series First Mortgage Bonds and Finish Line lead small-cap percentage losers
Chase Corp. (Nasdaq:CCF), Entergy Mississippi 6% Series First Mortgage Bonds Exp 01 No. (Nasdaq:EMQ) and Finish Line Inc. (Nasdaq:FINL) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Finish Line Inc. (Nasdaq:FINL), Consolidated Water Co Ltd. (Nasdaq:CWCO), Provident Bankshares Corp. (Nasdaq:PBKS), Molecular Insight Pharmaceuticals Inc. (Nasdaq:MIPI), Naugatuck Valley Financial Corp. (Nasdaq:NVSL) and TransMontaigne Partners L.P (Nasdaq:TLP). Here are the biggest percentage losers among small caps:
MGP Ingredients, Patrick Industries and Monroe Bancorp lead small-cap percentage losersMGP Ingredients Inc. (NYSE:MGPI), Patrick Industries Inc. (NYSE:PATK) and Monroe Bancorp (Nasdaq:MROE) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion. Also included among the results: Concurrent Computer Corp. (AMEX:CCUR), FBR Capital Markets Corp. (Nasdaq:FBCM), Ohio Valley Banc Corp. (Nasdaq:OVBC), Northrim BanCorp Inc. (Nasdaq:NRIM), Red Robin Gourmet Burgers Inc (Nasdaq:RRGB) and Chase Corp. (Nasdaq:CCF). Here are the biggest percentage losers among small caps:
Chase Corp. rises as Q2 income jumps
Shares of Chase Corp. (AMEX:CCF) are sprinting ahead on news after the close on Tuesday that fiscal second-quarter profit increased 36%. The Bridgewater, Mass.-based maker of protective materials reported that profit for the three months ended Feb. 29 was $1.87 million, or $0.22 per share, compared with earnings of $1.37 million, or $0.16 per share, a year earlier.
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At 11:25 a.m. ET, the stock had gained $1.36, or 6%, to $22.59.
Chase Corp.: Filling in the cracksWith asphalt additives, sealants and duct-tape supreme, Chase Corp. (AMEX: CCF) is keeping the edgy infrastructure in the United States from cracking up. There’s a lot to do and Chase is doing its share. Through acquisitions and efficient operations, Chase is forging a foundation of profit and revenue growth. That’s what happens when you’re exploiting niches in an industry in need. Bridgewater, Mass.-based Chase, founded in 1946, has eight core product lines. These include the asphalt additives and joint sealants for paving roads and bridges, tapes for natural gas and oil pipeline repair, and tapes for electrical and telecom wire repair. It also makes coatings for printed circuit boards, durable papers for radio-frequency identification tags, custom printed labels and packaging materials. The company also has a smaller electronic manufacturing services division. For the first quarter of fiscal 2008 ended Nov. 30, Chase reported this month an 11% gain to revenues to $34.6 million, compared to the same period the previous year. Diluted earnings per share increased 32% to $0.41, up from $0.31. The quarter’s success followed a similar 2007, when revenues increased to $127.5 million, up from $108.4 in 2006. Earnings per share were $1.22 in 2007, up from $0.77. Chase’s power stroke is coming from highway and bridge construction products, and pipeline expansion and upgrades. Federal money earmarked for highways is driving spending on transportation infrastructure, and last summer’s bridge collapse in Minnesota also is likely to mark additional spending on repair and maintenance of bridges, says Robert Damron, analyst at 21st Century Equity Research, in an October report as he initiated coverage with a “strong buy” rating. Higher energy costs also are spurring expansion and upgrades of national gas and oil pipelines, says Damron, the sole analyst covering the company. Management is consolidating and integrating many separately-run companies to increase cross-selling opportunities and reduce duplicate costs.
A small rise on Wall Street
The Russell 2000 (NYSE: IWM) and the Dow posted modest gains on a day marked mainly by positive corporate news. The small-cap index added 2.49 points, or 0.30%, to finish at 839.97. The Dow Jones Industrial Average gained 76.17 points, or 0.56%, to 13,577.87.
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News of more corporate deal-making helped stocks rebound from Tuesday’s sell-off, which was triggered when rating agency Standard & Poor’s threatened to downgrade $12 billion debt securities backed by subprime mortgages due to weakness in the U.S. housing sector. Today, Tampa, Fla.-based steelmaker Gerdau Ameristeel Corp. (NYSE: GNA) announced that it will pay $4.22 billion in cash to purchase rival Chaparral Steel Co. (Nasdaq: CHAP), while restaurant owner YUM! Brands, Inc. (NYSE: YUM) received an analyst upgrade.
SBE, Inc. leads Wednesday small-cap percentage gainersComputer hardware maker SBE, Inc. (Nasdaq: SBEI) is rising on heavy trading. Swedish mobile device developer Neonode received a large order from the Norwegian telecommunications company Telenor on Wednesday. SBE announced it’s merging with Neonode earlier in the year. The merger awaits shareholder approval until Aug. 10. New Brunswick Scientific Co., Inc. (Nasdaq: NBSC) announced it is being taken private by the German laboratory products maker Eppendorf in a $110 million deal. Solar cell products maker Amtech Systems, Inc. (Nasdaq: ASYS) said it’s booked $4.4 million in new orders. These are the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $500 million: spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer
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