Tag - Cpki

ARCA biopharma Inc. (Nasdaq:ABIO), AirTran Holdings Inc. (Nasdaq:AAI) and California Pizza Kitchen Inc. (Nasdaq:CPKI) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Cypress Bioscience Inc (Nasdaq:CYPB), National Interstate Corp (Nasdaq:NATL) and TF Financial Corp (Nasdaq:THRD) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Union Bankshares Inc (Nasdaq:UNB), Timberland Bancorp Inc (Nasdaq:TSBK), RF Industries Ltd (Nasdaq:RFIL), Hiland Partners LP (Nasdaq:HLND), Elbit Imaging Ltd (Nasdaq:EMITF) and California Pizza Kitchen Inc (Nasdaq:CPKI).

Small-cap stocks started out the first full week of 2009’s trading in choppy, bifurcated fashion, with support from energy and homebuilding stocks countered by selling in banking, financial, gold, telecom and drug shares. Some of today’s small-cap gainers are AerCap Holdings N.V. (NYSE:AER), Atlas Pipeline Holdings, L.P. (NYSE:AHD) and VisionChina Media (Nasdaq:VISN).

Other Market Watch highlights today included:

• Homebuilder stocks were a strong performer today, climbing 6% amid news that the New York Federal Reserve started buying mortgage-backed securities today.  
• Energy stocks were a prominent supportive influence today, with the Energy Select Sector SPDR Fund climbing 2.3%.  
• Vehicle sales were absolutely awful, but that was expected, and investors saw silver linings in the various reports.  
• Construction spending was off 0.6%, compared with the forecast for a slide of 1.3%.

Small Cap Gainers:

• Amsterdam based AerCap Holdings N.V. is up 55.6% to 5.01. The integrated global aviation company today said it signed a $1.4 billion facility agreement for A330 financing. (See NYSE:AER)  
• Energy services provider Atlas Pipeline Holdings, L.P. is up 28.7% to $5.38. The Pennsylvania co. engages in the transmission, gathering, and processing of natural gas and natural gas liquids. (See NYSE:AHD)
• VisionChina Media, an out-of-home digital television advertising network, this morning announced the renewal of an exclusive contract with Beijing Subway. Shares are up 22.7% to $7.07. (See Nasdaq:VISN)  
• Natural gas company MarkWest Energy is up 20.5% to $11.46. The CNBC stock blog is reporting that traders have been buying calls in MarkWest for the past week. (See NYSE:MWE)  

Small Cap Losers:

• Needham today downgraded Faro Technologies to "Hold" from "Buy." Shares are down 8.5% to $16.09. Faro makes computerized measurement devices used by manufacturers. (See Nasdaq:FARO)  
• California Pizza Kitchen In.c is down 8.7% to $9.99 after a downgrade by B. Riley & Co. (See Nasdaq:CPKI)  
• Fingerprinting-device maker Cogent Systems Inc. is 8,8% lower after a downgrade by Stanford Research. (See Nasdaq:COGT)  
• Calif-based UCBH holdings, which operates as the bank holding company for United Commercial Bank, is down 11% to $5.92 after a downgrade by DA Davidson. (See Nasdaq:UCBH) 

FCStone Group, Inc. (Nasdaq:FCSX), Jos A Bank Clothiers Inc (Nasdaq:JOSB) and Canadian Solar Inc (Nasdaq:CSIQ) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Evergreen Solar Inc (Nasdaq:ESLR), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF), Trico Marine Services Inc (Nasdaq:TRMA), Micrus Endovascular Corp (Nasdaq:MEND), TriQuint Semiconductor Inc (Nasdaq:TQNT) and California Pizza Kitchen Inc (Nasdaq:CPKI).

Here are the most actively traded companies among small caps:

California Pizza Kitchen Inc. (Nasdaq:CPKI) is more than 8% higher in today’s pre-market trading after the restaurant chain announced better-than-expected preliminary second-quarter earnings after the close on Wednesday. The Los Angeles-based company said its revenues were $176.6 million for the quarter ended June 29, compared with $158.6 million for the same quarter a year ago. The company also said its earnings per share should be between $0.25 and $0.26, versus previous estimates for $0.16 to $0.17. Wall Street was expecting $0.18 per share on revenues of $175.3 million. California Pizza Kitchen will release its second-quarter earnings on Aug. 7.

Restaurant chain California Pizza Kitchen, Inc. (Nasdaq:CPKI) raised its first-quarter earnings guidance after Tuesday’s close and reported preliminary first-quarter revenues that just beat the consensus on Wall Street.

Shares gained 5%, or $0.73, to $15.01 just before the open. For detailed price information and recent news stories about California Pizza Kitchen, click CPKI.

The Russell 2000 (NYSE: IWM) was the only major U.S. index to gain today as investors digested economic news. The small-cap index added 2.48 points, or 0.36%, to 699.91. The Dow Jones Industrial Average (INDU) fell 34.95 points, or 0.28%, to 12,466.16.

On a year-to-date basis, the Russell 2000 is down 8.63%, while the Dow has retreated 6.02% and the S&P 500 has trimmed 6.48%.

Small-cap stocks made sharp moves in both directions but spent the second half of trading in positive territory and managed to close with a small gain despite a late-session sell-off.

The day began with news of a report from the U.S. Labor Department that consumer prices rose 0.3% in December. That’s above economists’ projected increase of 0.2% but below November’s 0.8% jump.

That means that total inflation in 2007 inflation was 4.1%, the highest rate since 1990.

However, December core inflation, which excludes food and energy, was 0.2%, following an increase of 0.3% in November.

Core inflation for all of 2007 was 2.4%, which is slightly above the U.S. Federal Reserve’s preferred range between 1% and 2%.

The Russell 2000 (NYSE: IWM) has rebounded from earlier losses and is posting a solid gain. At 1:30 p.m. ET, the small-cap index had added 3.25 points, or 0.47%, to 700.68. The Dow Jones Industrial Average (INDU) was down 18.61 points, or 0.15%, to 12,482.50.

Small-cap stocks have recovered after hitting their lowest point during the first half of trading at about 11 a.m. ET, when the index fell to a level just above 690 points.

The bounce has no apparent explanation, but it’s likely that investors took a second look at JPMorgan Chase & Co. (NYSE: JPM).

The New York-based banking heavyweight reported that fourth-quarter net income declined 21% to $3 billion, or $0.86 per share, compared with $3.9 billion, or $1.09 per share a year earlier. The result is below analysts’ expectations and largely attributed to about $1.3 billion in writedowns due to bets made on securities backed by subprime mortgage loans.

But the third largest U.S. bank also reported that it added $2.3 billion to its credit reserves for the 2007 year and saw its fourth-quarter revenue rise above Wall Street’s projections.

In economic news, the U.S. Labor Department reported before the start of trading that consumer prices rose 0.3% in December. That’s above economists’ projected increase of 0.2%, but below November’s 0.8% jump.

Shares of California Pizza Kitchen, Inc. (Nasdaq: CPKI) are getting pummeled to a near 52-week low this morning after the restaurant chain lowered its fourth-quarter and 2008 guidance.

Shares of California Pizza Kitchen toppled 17.20%, or $2.11, to $10.16 at 11:42 a.m. ET. Shares of California Pizza Kitchen have been trading in the range $9.32 to $25.23 for the past 52 weeks.

The Los Angeles, Calif.-based company reduced it earnings guidance to the range of $0.16 to $0.18 per share from the range of $0.22 to $0.23 per share. Twelve analysts surveyed by Thomson Financial were on average forecasting earnings of $0.23 per share for the fourth quarter.

The restaurant chain said it is also lowering its outlook for fiscal 2008 due to continuing challenges in the macroeconomic environment. It is revising earnings estimates for fiscal 2008 to the range of $0.54 to $0.60 per share, compared with previous guidance of $0.85 to $0.92 per share. Thirteen analysts surveyed by Thomson Financial were on average projecting earnings of $0.90 for fiscal 2008. 

On account of the lowered guidance, Robert W. Baird analyst David Tarantino lowered his fourth-quarter EPS estimate by $0.05 to $0.18 and reduced his 2008 estimate by $0.30 to $0.60 per share. Howard Penney of Friedman, Billings & Ramsey cut his price target to $15 from $18.

Shares of California Pizza Kitchen, Inc. (Nasdaq: CPKI) are getting pummeled to a new 52-week low this morning after the restaurant chain lowered its fourth-quarter and 2008 guidance.

Shares of California Pizza Kitchen toppled 19.07%, or $2.34, to $9.93 at 10:03 a.m. ET. Shares of California Pizza Kitchen have been trading in the range $12.20 to $25.23 for the past 52 weeks.

The Los Angeles, Calif.-based company reduced it earnings guidance to the range of $0.16 to $0.18 per share from the range of $0.22 to $0.23 per share. Twelve analysts surveyed by Thomson Financial were on average forecasting earnings of $0.23 per share for the fourth quarter.

The restaurant chain said it is also lowering its outlook for fiscal 2008 due to continuing challenges in the macroeconomic environment. It is revising earnings estimates for fiscal 2008 to the range of $0.54 to $0.60 per share, compared with previous guidance of $0.85 to $0.92 per share. Thirteen analysts surveyed by Thomson Financial were on average projecting earnings of $0.90 for fiscal 2008. 

On account of the lowered guidance, Robert W. Baird analyst David Tarantino lowered his fourth-quarter EPS estimate by $0.05 to $0.18 and reduced his 2008 estimate by $0.30 to $0.60 per share. Howard Penney of Friedman, Billings & Ramsey cut his price target to $15 from $18.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting declines following more economic and financial news.
 
At 10:26 a.m. ET, the small-cap index had lost 3.08 points, or 0.44%, to 694.35. The Dow Jones Industrial Average (INDU) was down 36.90 points, or 0.30%, to 12,464.21.

Stocks small and large opened in the red but quickly recovered some of their losses, with the Russell 2000 even briefly visiting positive territory before declining again.

Grabbing the headlines is JPMorgan Chase & Co. (NYSE: JPM), which reported that fourth-quarter net income declined to below analysts’ expectations due to about $1.3 billion in writedowns for subprime-mortgage investments.

However, revenue outpaced Wall Street’s projections.

The New-York-based banking heavyweight also said that credit card spending slowed in December, a worrying sign that Americans might be cutting back on their spending.

In economic news, the U.S. Labor Department reported before the start of trading that consumer prices rose 0.3% in December. That’s above economists’ projected increase of 0.2% but below November’s 0.8% jump.

However, for all of 2007 inflation has added 4.1%, the highest rate since 1990.

The Russell 2000 (NYSE: IWM) futures have fallen and the small-cap index will open lower.

Consumer prices rose 0.3% in December, the U.S. Labor Department reported this morning. That’s above economists’ projected increase of 0.2% but below November’s 0.8% jump.

However, for all of 2007 inflation has added 4.1%, the highest rate since 1990.

December inflation for all items excluding food and energy was 0.2%, following an increase of 0.3% in November.

Elsewhere, JPMorgan Chase & Co. (NYSE: JPM) reported that fourth-quarter net income declined to below analysts’ expectations due to about $1.3 billion in writedowns for subprime-mortgage investments.

The news comes a day after rival Citigroup Inc. (NYSE: C) declared the largest loss in its history, also due to the meltdown in the subprime mortgage sector.

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:

• VistaCare, Inc. (VSTA), up 20% on news it will be acquired by Odyssey HealthCare Inc. (ODSY) for about $147.1 million.
• Charlotte Russe Holdings, Inc. (CHIC), up 12% on news of a rise in first-quarter sales.
• Life Partners Holdings, Inc. (LPHI), up 11%.

Biggest percentage losers:

• California Pizza Kitchen, Inc. (CPKI), down 22% on news it has lowered its fourth-quarter guidance.
• Courier Corp. (CRRC), down 17% on news of a decline in fourth-quarter profit and revenue.
• Stereotaxis, Inc. (STXS), down 12% on news of fourth-quarter guidance below expectations.

ParkerVision, Inc. (Nasdaq: PRKR), Lincoln Educational Services Corp. (Nasdaq: LINC) and Learning Tree International, Inc. (Nasdaq: LTRE) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $750 million:

California Pizza Kitchen, Inc. (Nasdaq: CPKI) shares are up after the casual restaurant operator reported preliminary third-quarter revenue of $162 million, below Wall Street estimates of $163.5 million but 13.5% above $142.8 million during the same period of 2006. The company said it expects earnings in the range of $0.04 to $0.05 per share.

California Pizza Kitchen said $0.19 per share will be charged during the quarter, due to store closures of up to four restaurants. During the third quarter, the company opened six new restaurants. Analysts expect earnings of $0.22 per share.

The Los Angeles-based firm expects to release third quarter results on Nov. 8.

In morning trading, CPKI shares are up 6.08%, or $1.14, at $19.88. Over the last 52 weeks, shares have ranged from $17.36 to $25.23.

Shares of California Pizza Kitchen Inc. (Nasdaq: CPKI) are trading lower today after the restaurant owner operator downwardly revised its guidance in an earnings report Thursday evening.

Adding to the sour sentiment, Friedman Billings Ramsey today lowered its target price to $23 from $26, but reiterated its rating of “outperform” on the stock.

Friedman Billings Ramsey analyst Ashley Woodruff reduced her target price on account of a lower assumed P/E multiple based on weaker-than-expected third quarter-to-date same store sales. According to Woodruff, comps rose only 3%, versus 5.4% in the second quarter, and are currently up 4.7% in the first week of August. Woodruff said that California Pizza Kitchen’s July comps were better than the industry in which it operates, but nevertheless disappointing.

“We expected a guide-down because of higher cheese and labor costs, but the softer sales were a surprise,” Woodruff wrote in a research note.

California Pizza Kitchen CEO, Rick Rosenfield told CNBC in an interview this afternoon that, “July had softer traffic than we’ve experienced in four years, but, we’re far better insulated than most because of our higher income demographic. In fact, we’ve seen a rebound in comps in California in the last 10 days.”