Tag - Cqb

With seasonal apples virtually everywhere here in Vermont it's almost impossible not to think about the importance of fresh fruit in our diets. Of course, as an independent investor I spend as much time considering potential ways to profit from the fresh food movement as I do putting together recipes that feature these tasty treats.

I've recently turned my attention toward consumer staples companies that may get a boost from the fresh food movement.

Cruise down the supermarket produce aisles and check out the fruit prices. Whether you're at a Walmart (NYSE: WMT), Safeway (NYSE: SWY) or Kroger (NYSE: KR), value shoppers are likely to notice one thing - bananas are the cheapest fruit on the shelves. They are ridiculously cheap.

Tree.com Inc. (Nasdaq:TREE), GFI Group Inc. (Nasdaq:GFIG) and Big 5 Sporting Goods Corp. (Nasdaq:BGFV) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Par Technology Corp. (Nasdaq:PTC), James River Coal Co. (Nasdaq:JRCC), NetScout Systems Inc. (Nasdaq:NTCT), Chiquita Brands International Inc. (Nasdaq:CQB), Patriot Coal Corp. (Nasdaq:PCX) and Fushi Copperweld Inc. (Nasdaq:FSIN).

LaBarge Inc. (Nasdaq:LB), Hanesbrands Inc. (Nasdaq:HBI) and Chiquita Brands International Inc. (Nasdaq:CQB) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Imperial Sugar Co. (Nasdaq:IPSU), MI Developments Inc. (Nasdaq:MIM), St Mary Land & Exploration Co. (Nasdaq:SM), Northrim BanCorp Inc. (Nasdaq:NRIM), Jackson Hewitt Tax Service Inc (Nasdaq:JTX) and Bank of Marin Bancorp (Nasdaq:BMRC).

Battered stocks limped to a dismal Monday close, with the Dow and S&P 500 falling to levels seen in 1997 as investors continue to pull money out on decreased confidence. Some of today’s small-cap gainers were GeoEye Inc.. (Nasdaq:GEOY), Agilysys (Nasdaq:AGYS) and Main Street Capital (Nasdaq:MAIN).

Other Market Watch highlights today included:

• The technology-laden Nasdaq composite index dropped 2.41%, and large-cap tech bellweathers bled red.  
• Tech stocks were getting pummeled today on news from The Wall Street Journal that Yahoo’s new CEO is planning a companywide reorganization.  
• News that the Treasury Department would lead a new bank bailout program that would include the option of allowing the government to increase its ownership in financial institutions did little to support investor confidence.  
• Battered stocks limped to a dismal Monday close, falling to levels seen in 1997 as investors continue to pull money out on decreased confidence.

Small Cap Gainers:

• GeoEye Inc. is up 18% after attaining full operational capability with its GeoEye-1 Satellite. See (Nasdaq:GEOY).
• Arrow ECS helps Agilysys with largest-ever independent system test for utility meter data management industry; shares rise nearly 5%. See (Nasdaq:AGYS).  
• Main Street Capital announces additional SBIC borrowing capacity from stimulus bill; shares climb 7%. See (Nasdaq:MAIN).  

Small Cap Losers:

• HealthSpring shares drop 33% on Medicare rate worries. See (NYSE:HS). 
• Chiquita Brands International is down another 22% today after reporting disappointing earnings on Friday. See (NYSE:CQB).  
• PetroQuest Energy Slips another 24% after reporting a Q4 loss late last week. See (NYSE:PQ).  

Chiquita Brands International Inc. (Nasdaq:CQB), Healthspring Inc. (Nasdaq:HS) and Shore Bancshares Inc. (Nasdaq:SHBI) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Superior Well Services Inc. (Nasdaq:SWSI), Sierra Bancorp (Nasdaq:BSRR), Marcus Corp. (Nasdaq:MCS), First Bancorp Inc. (Nasdaq:FBNC), Bel Fuse Inc. (Nasdaq:BELFB) and Quaker Chemical Corp. (Nasdaq:KWR).

Stocks reversed the downward course they were forging during Friday trading, and pared some losses after the U.S. government put rumors of bank nationalizations to rest. Some of today’s small-cap gainers were Soapstone Networks (Nasdaq:SOAP), Maxwell Technologies (Nasdaq:MXWL) and Sucampo Pharmaceuticals (Nasdaq:SCMP).

Other Market Watch highlights today included:

• A new report on consumer prices was released this morning. Economists predicted the Consumer Price Index likely rose by 0.3% last month, and the data turned out to be exactly in line with the predictions.  
• For the year, the Russell is down 17.72%, the Dow is down 16.07% and the S&P 500 is down 14.75%. 
• The Russell 2000 (NYSE:IWM) closed down 5.75, or 1.38%, to 410.96, while the Dow topped off Friday down 1.34% to 7,365.67, and the S&P 500 fell 1.14% to 770.05.  
• Stocks reversed the downward course they were forging during Friday trading, and pared some losses after the U.S. government put rumors of bank nationalizations to rest.

Small Cap Gainers:

• Soapstone Networks up 18% after the company announced it was reviewing strategic alternatives. See (Nasdaq:SOAP).
• Maxwell Technologies posts higher 4th quarter sales and gross margin, buoying shares 16% higher. See (Nasdaq:MXWL).  
• Sucampo Pharmaceuticals reports its third consecutive year of profitability with record FY 2008 results. Shares climbed 12% higher on the news. See (Nasdaq:SCMP).  
• Analyst lifts Red Robin's target; 2008 revenue Up, com. sales down. RRGB up 12.5%. See (Nasdaq:RRGB).  

Small Cap Losers:

• Chiquita Brands' Q4 loss widens, freezes executive salaries. Shares plunge over 40%. See (NYSE:CQB).
• IT company CIBER, Inc. down 22% after announcing pricing of common stock offering. See (NYSE:CBR).  
• WellCare suspends Medicare enrollments; shares fall 22%. See (NYSE:WCG).  
• Residential and commercial building material manufacturer Owens Corning down 20% as investors digest earnings, small cap mulls job cuts. See (NYSE:OC).  

Porter Bancorp Inc (Nasdaq:PBIB), Chiquita Brands International Inc (Nasdaq:CQB) and MS Structured Asset  (Nasdaq:DKQ) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CryoLife Inc (Nasdaq:CRY), International Bancshares Corp (Nasdaq:IBOC), State Bancorp Inc (Nasdaq:STBC), First Financial Holdings Inc (Nasdaq:FFCH), MainSource Financial Group Inc (Nasdaq:MSFG) and Sandy Spring Bancorp Inc (Nasdaq:SASR).

Chiquita Brands International Inc. (Nasdaq:CQB), Williams Partners LP (Nasdaq:WPZ) and Oritani Financial Corp. (Nasdaq:ORIT) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: MainSource Financial Group Inc. (Nasdaq:MSFG), Textainer Group Holdings Ltd. (Nasdaq:TGH), Copano Energy LLC (Nasdaq:CPNO), Colfax Corp. (Nasdaq:CFX), RC2 Corp. (Nasdaq:RCRC) and Associated Estates Realty Corp. (Nasdaq:AEC).

The Russell 2000 (NYSE:IWM) failed to eke out a gain at Tuesday’s close, staying focused instead on the global recession, slumping homebuilder confidence and money flow into credit instruments. Some of today’s small-cap gainers were IDM Pharma (Nasdaq:IDMI), Chiquita Brands (NYSE:CQB) and K12 Inc. (NYSE:LRN).

Other Market Watch highlights today included:

• The PPI report headline figure came in at minus 2.8%, which was a much bigger decline than the forecast of 1.8%.
• Money appeared to moving into credit markets today, with the yield on benchmark 10-year notes down 2.94%.
• Energy stocks still outperformed the market for the day but commodities remain sensitive to demand concerns amid a slumping global economy.
• Analysts at JP Morgan said that commodity prices – especially agriculture products – should outperform energy and industrial raw material products in 2009.
• For the year, the Russell is now down 42%, while the Dow is down 36% and the S&P 500 is down 41%.

Small Cap Gainers:

• IDM Pharma Inc. (Nasdaq:IDMI) shot higher, soaring 64% on unusually heavy volume as the firm’s bone cancer treatment received a positive opinion from European medical authorities.
• Chiquita Brands International Inc. (NYSE:CQB) jumped nearly 20% at closing after the bananas distributor was upgraded by analysts, climbing out of 52-week lows set last week.
• K12 Inc. (NYSE:LRN) closed up 16%, paring some of the losses seen . . .

TechTeam Global Inc. (Nasdaq:TEAM), Lacrosse Footwear Inc. (Nasdaq:BOOT) and Chiquita Brands International Inc. (Nasdaq:CQB) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dynamics Research Corp. (Nasdaq:DRCO), MSB Financial Corp. (Nasdaq:MSBF), Isramco Inc. (Nasdaq:ISRL), Santa Monica Media Units (Nasdaq:MEJ.U), The9 Ltd. (Nasdaq:NCTY) and Zones Inc. (Nasdaq:ZONS).

Small-cap stocks vacillated back and forth in positive and negative territory into the midday time frame, with support from a pocket of upbeat earnings, an optimistic outlook from major PC-maker Hewlett-Packard and strong energy shares countering a soft tone in financials, tech stocks and ongoing concerns about the fragile global economy. At 12:41 p.m. ET, the Russell 2000 (NYSE:IWM) was down 3.17, or 0.70%, at 448.12, lagging mild gains in the broad S&P 500 and large-cap Dow.

Energy stocks were among the best performers so far today as crude oil prices reversed overnight losses and investors looked to find bargains in the downtrodden sector. The Energy Select Sector SPDR Fund was up more than 2% at mid-session. Elsewhere on the commodities scene, analysts at JP Morgan said that commodity prices – especially agriculture products – should outperform energy and industrial raw material products in 2009.

Hewlett-Packard Co. (NYSE:HPQ) stunned investors this morning by not only reaffirming the current profit outlook, but by raising guidance for next year, breaking a long string of corporate expectations that were forecasting declines. If the world’s largest computer maker was still looking at greener pastures next year, then investors reasoned it could spread to a host of entities. HPQ was up some 12%. Elsewhere on the big-cap earnings front, Home Depot Inc. (NYSE:HD) topped the profit forecast and jumped 6%.

That’s not to say that everything was rosy among the earnings releases today. Corning Inc. (NYSE:GLW), who makes the flat glass to stick on all those flat-panel television monitors and computer screens, said fourth-quarter revenue will fall short of expectations. GLW stock was off 15% at midday.

In the small-cap universe, DHT Maritime Inc. (NYSE:DHT), a tanker ship operator, jumped 17% after releasing earnings numbers today. Chiquita Brands International Inc. (NYSE:CQB) rallied 17% amid analyst upgrades for the banana producer. Tetra Technologies Inc. (NYSE:TTI) jumped 15% as the oil and gas services company tries to mount a comeback after sinking to fresh lows last week. On the downside, Las Vegas Sands Corp. (NYSE:LVS) slumped 16% as the embattled casino operator hovers near record lows even though auditors recently removed doubts . . .

Small-cap stocks opened higher, then turned slightly down as investors juggled tame inflation data, sinking Asian stocks, ongoing worries about the economy and testimony about the TARP against an optimistic profit view by a major computer maker. At 10:06 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.94, or 0.21%, at 450.36.

The “big” event so far this morning was the earnings release from Hewlett-Packard Co. (NYSE:HPQ) as the world’s largest PC-maker topped the estimate, but more notably raised guidance, which has been unheard of in recent corporate profit reports. The HPQ news clearly triggered a sizable bounce off the overnight lows in stock index futures ahead of the regular open, and bolstered investor psychology early on today.

On the inflation front, the headline producer price index tumbled by 2.8%, which was the largest decline on record, fueled largely to a collapse in energy prices. The “core” rate, which excludes volatile food and energy prices was actually up 0.4% and is up 4.4% on a yearly basis, the biggest climb in 19 years. The consumer side of the equation will be released Wednesday morning. Clearly, prices have tumbled hard, completely erasing inflation worries at this stage of the economic decline.

Crude oil prices were down solidly overnight, but climbed back into positive territory ahead of the stock market open. Oil services shares were lower overseas and commodities were down in Europe, which could keep a defensive posture in play for energy and other commodity-themed stocks early today.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke were on Capital Hill this morning to update progress on the TARP (the government’s $700 billion financial bailout plan). Paulson said that the TARP needs to be preserved to allow flexibility and the package is designed to help the financial system and is not a panacea for all economic problems. He also said that the housing market collapse is the root of the downturn and that a slowing economy may prolong the . . .

Insight Enterprises Inc. (Nasdaq:NSIT), Delta Petroleum Corp. (Nasdaq:DPTR) and Macquarie Infrastructure Co LLC (Nasdaq:MIC) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Griffin Land & Nurseries Inc. (Nasdaq:GRIF), Chiquita Brands International Inc. (Nasdaq:CQB), Kansas City Life Insurance Co. (Nasdaq:KCLI), comScore Inc.(Nasdaq:SCOR), Fossil Inc (Nasdaq:FOSL) and Brooks Automation Inc. (Nasdaq:BRKS).

After plummeting 28%Monday on account of stating it will record a “significant” third-quarter loss, Chiquita Brands International, Inc. (NYSE:CQB) clarified this morning that the loss it expects in the third quarter is roughly in line with the loss incurred during the third quarter of 2007. The company noted that the third quarter is traditionally a weak quarter for the company and the banana industry.

The banana distributor and marketer also said that it expects to deliver a “much better” performance for 2008 compared with 2007.

Shares edged up 3%, or $0.45, to $17.10 ahead of the opening bell. For detailed price information and recent news stories about Chiquita Brands, click CQB.

After a brief slump in morning trading spurred by the surge in crude prices, small caps have steadily risen during the Monday afternoon session. At 1:52 p.m. ET, the Russell 2000 (NYSE:IWM) was up 5.28, or 0.72%, at 738.89.

Crude oil have skyrocketed to more than $137 a barrel in afternoon trading. Investors reacted nonchalantly to Saudi Arabia’s announcement that it would increase production. In other commodity trading, the U.S. dollar is down against both the yen and the euro.

“Saudi Arabia has offered to increase oil production, as the world’s biggest oil exporter moves to address global fears that prices are spiraling out of control, according to the London Times. They said they would increase production by 200,000 barrels a day next month and this comes on top of a 300,000 increase in June,” Andy Busch, foreign exchange strategist for BMO Capital Markets, wrote in an email. “Together, the increases would take production above 10 million barrels a day in Saudi Arabia. Then, CNBC reports that they will have difficulty meeting this new level and a North Sea drill rig fire causes oil to go up.”

Earlier this morning, the NY Manufacturing Survey came in below expectations, which put the market on the defensive before the crude oil price spike delivered a knockout punch for stocks. The manufacturing report came out at minus 8.68 for June, well below the median forecast for a dip of 2, and eroding from last month’s figure of minus 3.23.

Lehman Bros. (NYSE:LEH) kept the financial sector on investors’ minds after announcing a $2.8 billion loss for the second quarter. Lehman’s early Monday announcement met its pre-announcement issued last week. In other large-cap financial news, American International Group (NYSE:AIG) was down some 1%, after announcing that the CEO will be replaced. Also on the large-cap front, General Electric (NYSE:GE) shares were off 0.5% after being downgraded overnight . . .

Chiquita Brands International Inc (Nasdaq:CQB), Great Florida Bank (Nasdaq:GFLB) and Heritage Crystal Clean Inc (Nasdaq:HCCI) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Comm Bancorp Inc (Nasdaq:CCBP), American Realty Investors Inc (Nasdaq:ARL), China Sky One Medical Inc (Nasdaq:CSY), Toreador Resources Corp (Nasdaq:TRGL), Meta Financial Group Inc (Nasdaq:CASH) and Universal Truckload Services Inc (Nasdaq:UACL).

Here are the biggest percentage losers among small caps:

Chiquita Brands International, Inc. (NYSE: CQB) shares are down on news that a federal judge approved a plea bargain where the banana distributor will pay a $25 million fine for payments it made to a Colombian terrorist group. Cincinnati-based Chiquita made the first of five $5 million payments today.

The fine is the largest ever imposed under counterterrorism laws and was part of a plea deal reached with government prosecutors in March. The company says it was forced to make the payments in order to protect its workers. Under the bargain, no Chiquita executives accused of facilitating the bribe will be prosecuted.

In March, Chiquita pleaded guilty to paying $1.7 million to the United Self Defense Forces of Columbia (AUC), an umbrella group designated by the State Department as a foreign terrorist organization. The paramilitary coalition was formed to protect the interests of wealthy Colombians from Communist guerilla movements. According to the Colombian National Police, AUC carried out 804 assassinations in 2000.

Chiquita made over 100 payments to AUC, ending in 2004. The payments became illegal after the Sept. 11, 2001, terrorist attacks, when the State Department declared the organization a terrorist group.

In June 2004, Chiquita sold its Colombian subsidiary Banadex to Invesmar Ltd., the holding company of C.I. Banacol S.A., for $28.5 million in cash. A month earlier, Chiquita had publicly announced it told the United States Justice Department of payments by Banadex to terrorist groups in Colombia.

“This agreement is in the best interests of the company and reflects a responsible resolution to a difficult dilemma faced by the company several years ago,” CEO Fernando Aguirre said in a statement released on September 11, when the company announced its plea bargain offer. “Chiquita looks forward to putting this difficult chapter behind it, and remains committed to the highest standards of corporate responsibility, ethical conduct and legal compliance, in the United States and around the world.”

In today’s trading, CQB shares were down 1.43%, or $0.22, at $15.13. Over the last 52 weeks, shares have ranged from $12.48 to $19.92.

Landec Corp. (Nasdaq: LNDC) wants to revolutionize the way crops are farmed and produce is purchased. Its seed coating technology enhances agricultural yields, and its food packaging extends the shelf life of vegetables. Top priority: keeping bananas in shape.  

Two agricultural titans are backing Landec’s two core businesses. Its food products subsidiary Apio, Inc., which uses a special BreatheWay wrap for vegetables, has started a critical alliance with Chiquita Brands International Inc. (NYSE: CQB), the King Kong of bananas. And Landec’s technology licensing/partnering division has garnered an exclusive licensing agreement with Monsanto Company (NYSE: MON), the $38 billion agricultural goliath, for its Intellicoat seed coating technology.

Menlo Park, Calif.-based Landec, with a market cap of $355 million, owns a polymer technology that reacts to temperature. As a seed coating, the Intelimer technology allows corn to be planted three to four weeks earlier than normal; Landec’s technology also is used for soybean double cropping, which is the practice of producing two crops on the same land within the same year. The company in December 2006 sold its seed sales and marketing business to Monsanto for cash and Monsanto’s agreement to provide resources for marketing, sales and technical support of Intelimer technology, while Landec focuses on research and development.

Landec continues to seek new areas to apply its temperature-sensitive technology. It has a deal with Air Products & Chemicals Inc. (NYSE: APD), to use it in personal care items, such as creams and lotions, and in household and industrial cleaners. It also is used in adhesives.

Bin-busting yields aside, bananas are of most immediate importance to the company’s bottom line. Chiquita is selling bananas using Landec’s BreatheWay wrapping—another use of polymer technology. The BreatheWay membrane balances swings in temperatures and regulates moisture to extend shelf life and enhance the quality and appearance of vegetables and fruit.