Tag - Cir

Integral System Inc. (Nasdaq:ISYS), Build-A-Bear Workshop Inc. (Nasdaq:BBW) and Oshkosh Corp. (Nasdaq:OSK) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Circor International Inc. (Nasdaq:CIR), Carbo Ceramics Inc. (Nasdaq:CRR), ENPRO Industries Inc. (Nasdaq:NPO), ManTech International Corp. (Nasdaq:MANT), Ardea Biosciences Inc. (Nasdaq:RDEA) and Pacific Capital Bancorp (Nasdaq:PCBC).

Companies that manufacture drilling equipment are gushing earnings because of drilling activity fueled by record oil prices. T-3 Energy Services, Inc. (NASDAQ:TTES) manufactures so-called blowout preventers (BOPs) used on wells to prevent disasters. Circor International (NYSE:CIR) produces a variety of valves used on oil and gas wells and pipelines. 

T-3 recently shifted its focus from rebuilding and servicing other companies’ equipment to manufacturing its own equipment. This strategy shift was in response to customer requests. Its drilling customers desperately needed more subsea blowout preventers but were experiencing lengthy delays on new orders. BOPs are car-sized valves installed on wellheads that instantly seal off the well when excessive pressure is detected. T-3 added these devices to its product line last year by acquiring Energy Equipment and HP&T Products, two related companies that manufacture deep sea BOPs and related equipment. These acquisitions gave T-3 access to new technologies and markets and manufacturing capabilities at 21 locations across North America.

The company is benefiting from robust demand for its blowout preventers. Sales grew 33% last year to $217.4 million, from $163.1 million in 2006, while net income jumped 40% year-over-year to $25.3 million, or $2.15 per share, from $18.1 million, or $1.71 per share. With drilling activity on the rise, demand for blowout preventers continues to expand. China and Russia are expected to deploy 200 new drilling rigs per year over the next several years, and an additional 149 new offshore rigs are scheduled for delivery between 2008 and 2011...

After an impressive rally on Tuesday, small caps fell under pressure amid gloomy economic outlooks and possible downgrades, and as crude oil prices gushed higher. In Wednesday’s trading, the Russell 2000 (NYSE:IWM) fell 18.97, or 2.78%, at 663.75, while the Dow declined 236.77, or 2.08%, at 11,147.44.

After jumping nearly $2 dollars into the open to roughly $138 per barrel, crude oil futures reversed course and fell $0.40 to $135.64 a barrel. The U.S. dollar also fell against both the euro and the Japanese yen.

Prices were catapulted higher in the morning on news that crude inventory levels slipped more than anticipated. The Energy Information Administration reported this morning that U.S. oil supplies declined by 5.9 million barrels, substantially greater than Platts’ forecasted decrease of 1.9 million barrels. Additionally, Iran test fired missiles to show that they would retaliate if Israel attacks their nuclear production facilities, heightening concerns among oil traders that a conflict could cut off the transportation of crude supplies through the Strait of Hormuz, a highly utilized shipping route for the transportation of crude supplies. 

The International Monetary Fund said today that it remains weary on global economic growth this year and in 2009, as the credit crisis continues to grip global markets and skyrocketing food and fuel prices crimp consumers and businesses. IMF chief Dominique Strauss-Kahn, however, stated that he is more concerned about inflationary pressures.

In a research report this morning, analysts at Goldman Sachs said that a “snap-back rally” was always possible and that on a pure valuation basis, some investors might ask whether economic risk is now adequately priced into the stock market. “We think it remains dangerous to trade against the downside equity market trend based on valuation metrics alone at this point. The market is in the process of adapting expectations to a less optimistic view of the macro environment. And what looks cheap now may not look that cheap in the near future, should fundamentals turn even less friendly going forward. In this regard, the economic environment . . .

Circor International Inc (Nasdaq:CIR), Almost Family Inc (Nasdaq:AFAM) and Cyberonics Inc (Nasdaq:CYBX) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Here are the new 52-week highs among small caps:

Middleburg Financial Corp (Nasdaq:MBRG), Community Valley Bancorp (CA) (Nasdaq:CVLL) and Circor International Inc (Nasdaq:CIR) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FX Energy Inc (Nasdaq:FXEN), A Power Energy Generation Systems Ltd (Nasdaq:APWR), SUNOPTA INC (Nasdaq:STKL), Pyramid Oil Co (Nasdaq:PDO), Seacoast Banking Corp of Florida (Nasdaq:SBCF) and Ceco Environmental Corp (Nasdaq:CECE).

Here are the biggest percentage gainers among small caps:

CIRCOR International Inc. (NYSE:CIR) is up nearly 20% today on Tuesday’s after-the-close announcement that the company was lifting its second-quarter earnings outlook. The Burlington, Mass.-based company said it now expects earnings per share of $1.04 to $1.10, up from previous estimates of $0.74 to $0.83 per share for the quarter ended June 29. CIRCOR produces fluid control products and valves and said its raised outlook is due to strong sales in its energy business and good margins. The company will release its second-quarter results after the market close on July 30.

In today’s trading, CIRCOR is up $9.88 to $60.10 at 10:51 ET, a 52-week high on above-average volume.

At Circor International (NYSE:CIR), the bread and butter is fluid-control systems, and over the past two years the Massachusetts company has provided investors a steady stream of earnings improvement — not to mention a stock price that has doubled.

The stuff that Circor International makes can’t be called sexy, unless you think consistently turning a profit is racy. Circor has a line of industrial products that can’t be stuffed into a bikini or Speedo in some exotic clime, but its catalog is stuffed with items used in food, petrochemical and pharmaceutical production, military and aerospace applications, and textiles and paper manufacturing.

Circor’s stock has shown that it can weather the chill of a slowing economy or the withering heat from demanding investors. Now the maker of valves, pumps, fittings and specialty devices is striving to consistently grow.

That’s likely where the “International” in its name will come into play, as Circor goes ever more global. And, borrowing a line from Buzz Lightyear, its products are taking journeys to infinity and beyond, on Chinook and Osprey helicopters and Ariane rocket-launching craft.

Shares hit an all-time high of $53.99 on Tuesday, after sinking to a 52-week low of $35.48 on Jan. 23. At Wednesday’s closing, shares of Circor International were at $52.88.

Analysts have taken a wait-and-see approach on Circor, with five of the six surveyed by Thomson Reuters rating shares a “hold” (with one at “strong buy”). The median price target at Thomson calls for $55 a year out.

Circor International was formed in 1999, when Watts Water Technologies, Inc. (NYSE:WTS) spun off the part of its valve and controls business focusing on oil and gas to shareholders. The bulk of Circor’s operations are spread across the United States, but it has a healthy presence in Canada, Europe and China.

Circor’s product array falls into two segments: instrumentation and thermal fluid, and energy products. Whether a part is needed to function in cryogenics or the . . .