Tag - Cntf

Shares of China TechFaith Wireless Communication Technology Ltd. (Nasdaq:CNTF) are set to swoon after the cell phone research and development company reported second-quarter revenues that missed the consensus on Wall Street and issued lackluster guidance.

In a statement the company said that it foresees a “highly competitive environment and challenging economic conditions in the coming quarters.”

Shares were halted in pre-market trading. For detailed price information and news stories on China TechFaith Wireless, click CNTF.

First Bancshares Inc (Nasdaq:FBMS), China Techfaith Wireless Communication Technology Ltd (Nasdaq:CNTF) and SMART Modular Technologies Inc (Nasdaq:SMOD) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $750 million.

China Grentech Corp Ltd (Nasdaq:GRRF), Electro-Optical Sciences Inc (Nasdaq:MELA) and Tecumseh Products Co (Nasdaq:TECUA) are also among the biggest percentage losers.

Here are the biggest percentage losers among small caps:

Small caps declined after the ring of Tuesday’s opening bell, attempted to mount a comeback at noon after breaking through initial resistance, but declined during afternoon trading. Soaring crude oil prices, worrisome economic reports, the sinking greenback and a decline in international markets are burdening investors. Weak retail reports and Federal Reserve Vice Chairman Donald Kohn’s comments that policymakers are likely to hold interest rates steady provided additional concern for Wall Street.

At 2:09 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.70, or 0.64%, at 733.75.

Crude oil jumped to a new record high, climbing above $129 dollars a barrel amid tight stocks for diesel fuel and solid demand out of China and South America that is countering soft demand from the United States. With gasoline prices in some metropolitan areas moving above $4 dollars a gallon, another record high in crude oil will not likely be embraced by stock market traders, even if a handful of energy stocks stand to benefit.

The Labor Department’s producer price index report showed higher energy and food costs might be inflicting damage on other parts of the economy. The producer price index rose 0.2%, better than the expected 0.4% rise. However, skyrocketing gas prices mean the data is quickly outdated. Investors were more interested in the “core” producer price index, which edged up 0.4%, doubling expectations. This jump in the core tightens margins for businesses and forces them to consider raising prices, which can be suicidal in a sluggish economy where consumer discretionary spending . . .

Shares of China TechFaith Wireless Communication Technology Ltd. (Nasdaq:CNTF) are veering lower after the Chinese handset design and software provider reported after Monday’s close that it recorded its first-quarter bottom-line in the black compared with a net loss in the year-ago quarter, but still fell short of the mean earnings estimate on Wall Street by a penny.

The company also said gross margins for the quarter declined on account of a reduction in design revenue, as management reduced inventory levels.

Shares slid 13%, or $0.89, to $5.78 ahead of the opening bell. For detailed price information and recent news stories about China TechFaith Wireless, click CNTF.

China Precision Steel Inc (Nasdaq:CPSL), China Sunergy Co Ltd (Nasdaq:CSUN) and Akeena Solar Inc (Nasdaq:AKNS) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $750 million.

Ascent Solar Technologies Inc (Nasdaq:ASTI), Origin Agritech Ltd (Nasdaq:SEED) and China Techfaith Wireless Communication Technology Ltd (Nasdaq:CNTF) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

China Techfaith Wireless Communication Technology Ltd (Nasdaq:CNTF), Yucheng Technologies (Nasdaq:YTEC) and Paragon Shipping (Nasdaq:PRGN) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $750 million.

Optium Corp (Nasdaq:OPTM), DrdGold ADR (Nasdaq:DROOY) and Trico Marine Services Inc (Nasdaq:TRMA) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

CV Therapeutics, Inc. (Nasdaq:CVTX), Geron Corp. (Nasdaq:GERN) and ANADIGICS, Inc. (Nasdaq:ANAD) are among the most actively traded companies in Friday's pre-market trading among those with market capitalizations under $750 million.

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq:CNTF), China Sunergy Co., Ltd. (Nasdaq:CSUN) and Zoran Corp. (Nasdaq:ZRAN) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Friday's pre-market trading:

The Russell 2000 (NYSE:IWM) futures are lower and the small-cap index will open in negative territory.

The bears are poised for action following news this morning that General Electric Co. (NYSE:GE) reported a decline in first-quarter earnings and lowered its 2008 outlook.

The Russell 2000 recaptured some of the previous day’s losses Thursday, rising 9.05, or 1.30% to 707.42. The index left a little double bottom on daily charts near the low, and that area around 696 stands as immediate support today. Below there, look for support at 688 and 681. Resistance should be seen at 714, 720.50 and 725.

Today’s session features minimal event risk. The 10:00 a.m. ET sentiment figures from the University of Michigan sometimes spark a short-term twitch from traders, but represent a minor report overall.

The Russell 2000 (NYSE: IWM) moved up as news of a stock buyback program by International Business Machines Corp. (Nasdaq: IBM) overshadowed worrisome economic reports. The small-cap index added 6.86 points, or 0.97%, to 717.32. The Dow Jones Industrial Average (INDU) gained 114.70 points, or 0.91%, to 12,684.92.

On a year-to-date basis, the Russell 2000 has declined 6.36%, while the Dow is down 4.37% and the S&P 500 has decreased 5.93%.

The major U.S. indices interrupted their early-session volatility to post gains on news that IBM has approved a $15 billion stock buyback. The Armonk, N.Y.-based tech giant said that the buyback will boost its 2008 profit.

The announcement came at around 11 a.m. ET, and immediately sent stocks small and large flying.

The U.S. Labor Department reported that producer prices increased 1% in January, more than the expected 0.4%.

The numbers tell us that inflation pressures remain a worry despite the slowing economy.

Meanwhile, the Conference Board announced that its index of consumer confidence fell to a five-year low of 75.0 in February, down from 87.3 in January. A pullback in consumption will spell trouble for the economy, because consumer spending is about 70% of U.S. gross domestic product.

The Russell 2000 (NYSE: IWM) is rising on news of a stock buyback program by International Business Machines Corp. (Nasdaq: IBM) and despite poor economic reports.

At 11:56 a.m. ET, the small-cap index was up 9.01 points, or 1.27%, to 719.47. The Dow Jones Industrial Average (INDU) was down 84.34 points, or 0.67%, to 12,654.56.

Small-cap stocks moved into positive territory immediately after IBM announced at around 11 a.m. ET that its board has authorized a $15 billion share buyback program that could boost 2008 earnings per share.

Trading has been volatile this morning, with most of the major U.S. indices generally staying below the flat line on news of economic reports that point to inflation and dispirited consumers.

The U.S. Labor Department reported before the opening that producer prices increased 1% in January, more than the expected 0.4%.

After the opening the Conference Board announced that its index of consumer confidence fell to a five-year low of 75.0 in February, down from 87.3 in January. Economists were expecting a more modest decline.

Among the biggest small-cap winners is China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), which announced after the close on Monday that it swung to a fourth-quarter net income and outpaced analysts’ projections.

China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF) reported a profit for its fourth quarter after the close yesterday that beat the consensus on Wall Street, and guided for first-quarter revenues above the Street. 

The original developed product (ODP) provider focused on research and development of cell phones attributed its strong results to transitioning to an ODP provider model and progress on the development and production of middle to high end and tailor-made handsets.

“In our view, China TechFaith’s successful transition to an ODP model has become a key differentiating factor among Chinese companies on the handset value chain,” Susquehanna Financial analyst Adele Mao wrote in a research note this morning.

China TechFaith specifically noted that it launched 51 ODP models, including multimedia phones and dual mode dual card handsets consisting of multiple wireless technology combinations, as well as Windows-based smartphones and Pocket PC phones.

For the three months ended Dec. 31, 2007, the Bejing-based small cap recorded net income of $3.2 million, or $0.07 per American depository share, compared with a net loss of $6.7 million, or $0.15 per American depository share for the fourth quarter of 2006. The Thomson Financial mean estimate was for a net profit of $0.04 per share.

Net revenues for the quarter surged 56.7% to $45.7 million, from $29.1 million for the same quarter last year due to stronger-than-expected performance of the ODP business.

“The fourth quarter of 2007 was a clear indication that China TechFaith has emerged as a much stronger franchise poised for earnings growth in 2008 … with improved customer mix and a strong pipeline in the feature phone and Smartphone businesses,” wrote Mao.

The Russell 2000 (NYSE: IWM) futures are down and the small-cap index will open lower on news of a jump in producer prices.

Producer prices increased 1% in January, the U.S. Labor Department reported this morning. That’s more than twice the forecasted increase of 0.4% and comes following a 0.3% decline in December.

The numbers, which measure the selling prices received by domestic producers for their output, raise fears of inflation.

Small-cap stocks posted an impressive rally to start the week on Monday, paying off short-term traders who bought into Friday’s bullish "hammer" pattern on daily charts. The Russell 2000 eventually closed Monday at 710.46, up 15.03 or 2.16%. Look for support Tuesday at 704, 697 and then down at 688. Meanwhile, resistance is pegged at 717, 722.50 and 731.

If the market can extend Monday’s rise through this morning's PPI report and the 10:00 a.m. ET consumer confidence report, then a run toward the key double top at 731 could be underway. However, any failure back below 700 would suggest that Monday’s rally was a short-term move that lacked legs.

The Russell 2000 (NYSE: IWM) futures are higher but the small-cap index will be weighed down by news of a decline in U.S. housing starts.

Housing starts in November declined 3.7% to a seasonally adjusted annual rate of 1.187 million, according to the U.S. Census Bureau. Economists were expecting a slightly steeper decline.

November housing starts are 24.2% below the revised annual rate of 1,565,000 units in November 2006.

The same report also showed that building permits, a sign of future construction, fell 1.5% to an annual rate of 1,152,000. That decline is in line with economists’ projections.

The numbers tell us that the housing situation remains dire and the sector remains in a slump.

The Russell 2000 (NYSE: IWM) futures have moved slightly higher as investors look to the U.S. Federal Reserve’s meeting on Tuesday.

The Fed will meet on Tuesday to decide on monetary policy, with most observers expecting the U.S. central bank to lower its target interest rate from the current level of 4.5%.

Elsewhere, Swiss banking giant UBS announced $10 billion in subprime write-downs. That will lead the Zurich-based company to report a fourth-quarter loss and sell a stake of itself to investors from the Middle East.

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:

• Photronics Inc. (PLAB), up 12%.
• Uranium Resources, Inc. (URRE), up 7%.
• China Techfaith Wireless Communication Technology Ltd. (CNTF), up 8%.

Biggest percentage losers:

• Pacific Ethanol, Inc. (PEIX), down 6%.
• Learning Tree International, Inc. (LTRE) down 5%.
• Adolor Corp. (ADLR) down 5%.

China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), a design product provider focused on research and development of cell phones, said this morning that it has made a contract with an Indian operator brand, a move that is expected to expand its global reach into the Indian market

The contract calls for mid- to high-end CDMA 1X long standby feature phones. The first shipment of the product is expected in the first quarter of 2008.

Shares of China TechFaith (CNTF) gained $0.24, or 3.63%, to $6.85 in pre-market trading. Wireless Shares of China TechFaith Wireless have been trading in the range of $4.01 to $11.28 for the past 52 weeks.

China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), an original design product provider focused on research and development of cell phones, said today that a “famous” Japanese original equipment manufacturer has awarded the Chinese small cap original design manufacturer business.

Under the terms of the contract, the Japanese OEM will make an initial purchase of approximately 50,000 hybrid HSDPA data/voice cards from TechFaith.

The two companies have previously worked together on a handset design.

Shares of China TechFaith Wireless Communication (CNTF) gained 6.47%, or $0.37, to $6.09 ahead of the opening.  Shares of China TechFaith Wireless Communication have been trading in the range of $4.01 to $11.28 for the past 52 weeks.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will most likely open in positive territory, recovering from two days of losses.

Big name players are helping create a bullish mood this morning after news that analysts have raised their recommendations on computer hardware maker Hewlett-Packard Co. (Nasdaq: HPQ) and energy giant Chevron Corp. (NYSE: CVX).

Also contributing is Cisco Systems Inc. (Nasdaq: CSCO), after the internet communications company authorized additional stock repurchases valued at as much as $10 billion, raising the total amount to $62 billion.

In economic news, the U.S. Federal Reserve is scheduled to release data on industrial production in October minutes before the start of trading. Economists are expecting to see a small rise.

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:

• Canadian Solar Inc. (CSIQ), up 13% on news that is has signed a new contract to deliver solar power station projects in Spain.
• American Railcar Industries Inc. (ARII), up 11% on news billionaire Carl Icahn bought more shares.
• China Techfaith Wireless Communication Technology Ltd. (CNTF), up 7%.

Biggest percentage losers:

• Acacia Research-Acacia Technologies (ACTG), down 30% on news of a negative ruling in a patent infringement trial with Microsoft Corp. (MSFT).
• Zygo Corp. (ZIGO) down 7%.
• Salix Pharmaceuticals Ltd. (SLXP) down 6%.

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) futures are higher and the small-cap index will likely open in the green on news of a rise in retail sales.

Retail sales in the United States rose 0.2% in October, the Commerce Department reported this morning. That’s in line with economists’ forecasts but below the upwardly revised increase of 0.7% in September.

However, the numbers indicate that retail sales growth has slowed, a sign that consumers have become a little more reluctant to spend money. That indicates that U.S. economic growth will likely moderate in the fourth quarter of 2007.

Consumption is about 70% of gross domestic product.

Retail sales excluding auto and parts rose 0.2% in October, meeting economists’ expectations and matching September’s increase.

On Tuesday, Wal-Mart Stores Inc. (NYSE: WMT) sparked a rally when it reported higher-than-expected third-quarter earnings due to discounts that started two weeks earlier than last year.

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:

• Canadian Solar Inc. (CSIQ), up 28% on news it swung to a third-quarter profit.
• Synovis Life Technologies, Inc. (SYNO), up 19%.
• 3SBio Inc. (SSRX), up 17% on news of a rise in third-quarter earnings.

Biggest percentage losers:

• Northstar Neuroscience Inc. (NSTR), down 10% on news of a slowdown in the regulatory approval process of one of its treatments.
• Oritani Financial Corp. (ORIT) down 6% on news it will buy Greater Community Bancorp (CBON) for $187 million.
• China Techfaith Wireless Communication Technology Ltd. (CNTF) down 5%.

Canadian Solar Inc. (Nasdaq: CSIQ), CDC Corp. (Nasdaq: CHINA) and China Finance Online Co. (Nasdaq: JRJC) are among the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF), Fushi International Inc. (Nasdaq: FSIN) and North American Galvanizing & Coatings (Nasdaq: NGA) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

Rackable Systems, Inc. (Nasdaq: RACK), China Sunergy Co., Ltd. (Nasdaq: CSUN) and China BAK Battery Inc. (Nasdaq: CBAK) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

The Russell 2000 (NYSE: IWM) futures are flat but the small-cap index will probably be weighed down by news of poor earnings.

The bears will most likely overpower the bulls after the opening, following news that Wachovia Corp. (Nasdaq: WB), the fourth largest U.S. bank, reported a decline in its third-quarter profit. The Charlotte, N.C.-based bank attributed the shortfall to difficult credit market conditions.

In other disappointing news, heavy equipment maker Caterpillar Inc. (NYSE: CAT) announced a quarterly profit that missed analysts’ forecasts. Net income came to $1.40 per share, below the projected $1.42 per share.

That’s a sign of the slowdown in housing, as fewer builders are breaking ground on fewer new houses and have less need for Peoria, Ill.-based Caterpillar’s signature products.

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:

• Overstock.com Inc. (OSTK), up 15% on news of a narrower third-quarter loss.
• Steve Madden Ltd. (SHOO), up 14% on news of a possible sale.
• CyberSource Corp. (CYBS), up 14% on news of better-than-expected third-quarter results.

Biggest percentage losers:

• Nanophase Technologies (NANX), down 13% on news of a wider third-quarter loss.
• Center Bancorp Inc. (CNBC), down 2%.
• China Techfaith Wireless Communication Technology Ltd. (CNTF) down 2%.

Targa Resources Partners LP (Nasdaq: NGLS), Origin Agritech Ltd. (Nasdaq: SEED) and Packeteer, Inc. (Nasdaq: PKTR) are among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $750 million:

Nektar Therapeutics (Nasdaq: NKTR), China Sunergy Co., Ltd. (Nasdaq: CSUN) and Kosan Biosciences Inc. (Nasdaq: KOSN) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $750 million:

A rollercoaster ride of trading today ended with the Russell 2000 (NYSE: IWM) gaining ground while the Dow fell after news of a temporary rise in the price of oil. The small-cap index added 1.54 points, or 0.19%, to 824.89. The Dow Jones Industrial Average (INDU) shed 20.40 points, or 0.15%, to 13,892.54.

On a year-to-date basis, the Russell 2000 has increased 4.76%, while the Dow has added 9.11%.

Stocks began on a bullish note following news of better-than-expected third-quarter earnings from tech sector heavyweights Intel Corp. (Nasdaq: INTC) and United Technologies Corp. (NYSE: UTX), but quickly shed those gains halfway through the trading session as the price of oil briefly rose to an intraday high above $88 a barrel.

Investors got jittery around noon ET, after the Turkish parliament overwhelmingly approved a military attack into northern Iraq in order to fight Kurdish rebels, causing the price of oil to clear $88 a barrel before moderating down to $87.40. A cross-border spat could disrupt Iraq’s oil supplies.

Nevertheless, small caps managed to sneak into positive territory just before the close, while the Dow languished in the red.

Meanwhile, U.S. housing starts fell to the lowest annualized pace in 14 years in September. The U.S. Census Bureau announced today that housing starts fell to 1.191 million, missing economists’ projections of 1.285 million. The level in August was an upwardly revised 1.327 million of privately owned housing units.

The stagnation in the housing sector seems to have no end in sight, as building permits, an indicator of future construction plans, also fell.

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF), Sequenom, Inc. (Nasdaq: SQNM) and Alto Palermo S.A. (Nasdaq: APSA) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

The Russell 2000 (NYSE: IWM) has erased its morning gains after news of a fresh spike in the price of oil. At 1:32 p.m. ET, the small-cap index was down 3.53 points, or 0.43%, to 819.82. The Dow Jones Industrial Average (INDU) had shed 74.14 points, or 0.53%, to 13,838.80.

The price of oil continues to set record highs, up $0.54 to $88.15 a barrel on news that the Turkish parliament overwhelmingly approved a military attack into northern Iraq in order to fight Kurdish rebels.

Military conflict could disrupt supplies from Iraq, the world’s third largest exporter.

Stocks started falling soon after 12 p.m. ET, the early gains made after major tech players reported better-than-expected earnings quickly disappearing.

Meanwhile, U.S. President George Bush said today that homeowners need help in order to avoid foreclosures, but spoke out against a bailout of lenders whose loose lending practices contributed to the current housing recession.

Speaking of the housing recession, before the opening the U.S. Census Bureau announced that housing starts for the month of September fell to an annualized pace of 1.191 million, the lowest in 14 years. Economists were expecting a rate of 1.285 million units following August’s upwardly revised level of 1.327 million privately owned housing units.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are higher this morning as news of strong earnings overshadows unimpressive economic data.

At 10:42 a.m. ET, the small-cap index had added 4.32 points, or 0.52%, to 827.67. The Dow Jones Industrial Average (INDU) was up 24.31 points, or 0.17%, to 13,937.25.

The first bullish earnings news came out after the close on Tuesday when search engine Yahoo! Inc. (Nasdaq: YHOO) reported third-quarter profit that outpaced Wall Street’s projections. The Sunnyvale, Calif.-based company said that net income slipped to $151.3 million, or $0.11 per share, compared with $158.5 million, or $0.11 per share a year earlier. However, analysts were forecasting earnings of $0.08 per share.

The trend of tech sector heavyweights beating earnings projections continued today with Intel Corp. (Nasdaq: INTC) and United Technologies Corp. (NYSE: UTX) also announcing better-than-expected quarterly financials.

Futures were up and small and big caps were poised for even bigger gains when news that the U.S. housing sector continues to agonize pulled the bulls back.

The U.S. Census Bureau reported before the opening that housing starts for the month of September fell to their lowest annualized pace in 14 years.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will probably open in the green on news of strong earnings.

The bulls are poised this morning following news of better-than-expected earnings from the tech sector.

Search engine Yahoo! Inc. (Nasdaq: YHOO) got the ball rolling after the close on Tuesday when the Sunnyvale, Calif.-based company reported third-quarter net income that outpaced Wall Street’s projections.

This morning Intel Corp. (Nasdaq: INTC) also beat analysts’ third-quarter forecasts, while United Technologies Corp. (NYSE: UTX) announced that its net income increased 20% due to strong demand across the board and revenue rose 14%. Wall Street was expecting more modest gains.

However, holding the bulls down is news that September U.S. housing starts fell to the lowest rate in 14 years.

The Census Bureau reported that builders broke ground on 1.191 million units at an annualized pace in September, well below the 1.285 million units expected by economists. Housing starts were an upwardly revised 1.327 million in August.

In other economic news, the U.S. Labor Department reported that the consumer price index, the main measure of inflation, grew 0.3% in September, following a fall of 0.1% in August. Economists were expecting a slightly lower reading of 0.2%. Core inflation, which excludes the cost of food and energy, was 0.2%, in line with economists’ forecast.

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF), City Telecom (H.K.)Ltd (Nasdaq: CTEL) and Yucheng Technologies Ltd (Nasdaq: YTEC) are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), a design manufacturer focused on the research and development of cell phones, said that it was awarded a contract by China's Ministry of Public Security Information Center to custom develop a pocket PC phone for police forces in two provinces in China.

This is TechFaith's first contract from a Chinese government organization. The initial shipment is expected in December 2007.

Shares of China TechFaith (CNTF) soared 36.91%, or $2.34, to $8.68 in pre-market trading. Shares of China TechFaith have been trading in the range of $4.01 to $11.28 for the past 52 weeks.

China Precision Steel, Inc. (Nasdaq: CPSL), City Telecom (H.K.) Ltd. (Nasdaq: CTEL) and Gladstone Capital Corp. (Nasdaq: GLAD) are the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

City Telecom (H.K.) Ltd. (Nasdaq: CTEL), Origin Agritech Ltd. (Nasdaq: SEED) and Children's Place Retail Stores, Inc. (Nasdaq: PLCE) are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $750 million:

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF) shares are jumping after the cell phone design company announced it’s launching the first W-CDMA/GSA dual mode phone. W-CDMA, or wideband code division multiple access, is a type of high-speed 3G cellular network. GSM, or global systems for mobile communications, is the most widely available standard for cell phones.

China Techfaith’s phone—dubbed “Twins”—features a 2 megapixel camera, MP3 and video player and Bluetooth capabilities.

"Twins has twice the power!" CEO Defu Dong said in a statement. "We expect high demand for Twins based on early feedback and our first mover advantage. TechFaith has secured contracts from Europe and South East Asia, and our first shipment is scheduled for this November."

The new phone’s features have been demanded by international travelers for a long time, China Techfaith said in a statement.

In pre-market trading, CNTF shares are up 18.10%, or $1.28, at $8.35. Over the last 52 weeks, shares have ranged from $4.01 to $11.28.

Xinhua Finance Media Ltd. (Nasdaq: XFML), China Technology Development Group Corp. (Nasdaq: CTDC) and China Techfaith Wireless Comm. Tech. Ltd (Nasdaq: CNTF) are the most actively traded companies in Monday pre-market trading among those with market capitalizations under $750 million:

SupportSoft, Inc. (Nasdaq: SPRT), Monarch Financial Holdings, Inc. (Nasdaq: MNRK) and Security Bank Corp. (Nasdaq: SBKC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

Shares of China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF) are skyrocketing after Qualcomm Inc. (Nasdaq: QCOM) said it has granted China TechFaith’s subsidiary, TechFaith Wireless Technology Group Ltd., a royalty-bearing, worldwide license under Qualcomm's patent portfolio to develop, manufacture and sell 3G subscriber units and modem cards that implement WCDMA and TD-SCDMA standards.

TechFaith will pay royalties at Qualcomm's standard worldwide rates and said they will be the same regardless of the CDMA standard implemented by the subscriber unit or modem card.

“We are experiencing increased momentum in the worldwide transition from 2G to 3G mobile services,” Marvin Blecker, president of Qualcomm Technology Licensing said in a press release. “The expansion of TechFaith's licenses from Qualcomm to including these additional 3G CDMA technologies will ensure that they remain highly competitive in the global market by offering advanced wireless handsets and modem cards to customers throughout the world.”

China TechFaith, based in China, is an original design manufacturer focused on research and development of cell phone solutions.

Shares of China TechFaith (CNTF) rose 30.05%, or $2.01, to $8.70 at 11:33 a.m. ET.

KongZhong Corp. (Nasdaq: KONG), China BAK Battery Inc. (Nasdaq: CBAK) and China Techfaith Wireless Comm. Tech. Ltd (Nasdaq: CNTF) are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

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

These are the biggest percentage losers among companies with market capitalizations under $500 million:

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

STEC Inc. (Nasdaq: STEC) fell $0.83 a share, or more than 10%, to $7.30 in after-hours trading after issuing second quarter revenue guidance that fell short of analysts’ expectations. STEC, which uses Flash memory and DRAM technologies for memory applications, said after the close that it expects revenues of $41 million to $43 million in the second quarter ending in June, compared with analyst estimates centered at $49.2 million. For the first quarter ended March 31, STEC said it earned $6.71 million, or $0.13 a share, up from $104 million, or $0.02 a share, a year earlier. Analysts were expecting an average per-share profit of $0.06. Revenues rose to $47.2 million in the first quarter, compared with $40.4 million a year earlier and analyst estimates of $45 million.

ICF International (Nasdaq: ICFI) was trading at $26.13, up $2.41, or about 10%, in after-hours trading, after beating expectations with first-quarter results and guiding analysts to more profitability in the second quarter. For the three months ended March 31, net income was $0.60 per diluted share, compared with $0.11 a year earlier. Revenue was $151.7 million, dwarfing the year-ago quarter’s revenue of $53.4 million. Analysts had been looking for earnings per share of $0.45, and revenue of $129.35 million. The Fairfax, Va.-based consulting company also says it expects second quarter 2007 revenue to range from $135 million to $145 million, and full year 2007 revenue to range from $530 million to $550 million to $43 million.