Tag - Cry

Oxford Industries Inc. (Nasdaq:OXM), Zumiez Inc. (Nasdaq:ZUMZ) and China Natural Gas Inc. (Nasdaq:CHNG) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Shiloh Industries Inc. (Nasdaq:SHLO), Methode Electronics Inc. (Nasdaq:MEI), Calavo Growers Inc. (Nasdaq:CVGW), CryoLife Inc. (Nasdaq:CRY), DrdGold ADR (Nasdaq:DROOY) and Orion Marine Group Inc. (Nasdaq:ORN).

Stocks traded downward today with fresh worries about the economy. Stocks put in their steepest decline in six weeks with nearly all industries getting pulled down on investor concerns of consumer reluctance to spend. Indeed, American consumers have closed their wallets so tightly that the personal savings rate, as released by the Bureau of Economic Analysis, was over 5% at the end of Q2 2009. This contrasts to 1% at the beginning of the economic downturn.

The Dow closed down 186 to finish at 9,136 with Alcoa (NYSE:AA), American Express (NYSE:AXP), Caterpiller (NYSE:CAT), and DuPont (NYSE:DD) the leaders in the declining stock prices in the index.

The Nasdaq finished the trading session at 1,931, down 55 points and the S&P 500 finished at 980, down 24 points.

The Russell 2000, a composite of leading small-cap stocks, ended the day at 548, down 16 points.

Small-cap price leaders today include Align Technology (Nasdaq:ALGN), up 29%; Protalix BioTherapeutics, (Amex:PLX), up 11%; and CryoLife (NYSE:CRY), 10%.
 
*****30 Hour work week the new normal

Economic analysts were out in full force last week as headline data pointed to a recovery in employment. Although people may have started finding jobs, we question the quality of work being found by new workers.

After the Japanese financial crisis in the late 1980s, many of Japanese workers ended up working on temporary jobs that didn't have good salaries and benefits. Perhaps the U.S. is entering a similar phase.

Over the past year and a half companies have slashed budgets and expenses. Businesses are more likely to hire low cost temporary help until the economy starts to show significant changes. Part-time jobs usually have lower pay and part-time jobs don't have many of the benefits that full-time jobs have.

In past recessions, businesses would hang onto valued employees and many times increase their salary levels. This recession has proven different. There is a large number of highly educated people competing for menial jobs. This has given businesses an opportunity to hire skilled workers at bargain rates.

*****An insider's look at the housing numbers.

Inside Mortgage Finance sponsored a nationwide survey of 1,556 real-estate agents in mid-June. Their results bring up important data that contradicts many of the figures we have been reading in the past few weeks.
They unanimously acknowledge that the low end of the market is cranking. This area of the market is primarily driven by foreclosures, first-time buyers, and investors. The numbers show that near 43% of homebuyers are first-time homebuyers, 29% are current homeowners, and another 29% are investors. 
Unfortunately, their findings show that the high end of the market is dead. This area of the real estate market remains very weak because sellers are still in denial, existing homeowners aren't trading up, and there are fewer foreclosures and forced sales at the high end.

For those who already own houses, "affordability" is not a particularly meaningful measure of housing-market health. The main reason is because existing home owners cannot sell their current property at break-even levels, let alone a little profit.

*****No Inflation

Last week CPI came in about as expected. Although prices are rising slightly, CPI remains negative taking into account year over year changes.

A sign of confidence that U.S. inflation should remain under control is that foreign governments have been switching out of shorter-term U.S. government bills and into longer-dated bonds. Last week, when the U.S. government issued $75 billion in new bonds, 10-year notes made up the largest percentage since 2005.

*****Managed America

So there's where we are: shorter work weeks (read: less take-home pay), home values gone bust, homeowners stuck in their homes, and inflation initially non-existent. These are some of the themes I recently shared with investors in my Managed America: Investing in the New Economic Reality. During the presentation I shared with investors some of our top holding for the new economy and the strategies we'll employ for profits in the months and years ahead. The presentation is in replay mode and is open access (free): click HERE to watch now.

Regards,

Ian Wyatt
Editor
Small Cap Investor Daily

 

Align Technology Inc. (Nasdaq:ALGN), Pinnacle Airlines Corp. (Nasdaq:PNCL) and CryoLife Inc. (Nasdaq:CRY) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Jacksonville Bancorp Inc. (Nasdaq:JXSB), China Biotics Inc. (Nasdaq:CHBT), Herley Industries Inc. (Nasdaq:HRLY), RG Barry Corp. (Nasdaq:DFZ), LSB Corp. (Nasdaq:LSBX) and Cedar Fair, L.P. (Nasdaq:FUN).

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).

Stocks slid in the final hour of trading, finally capsizing at closing on news that tech bellwether Hewlett-Packard (NYSE:HP) is scaling back its 2009 forecast.

The Russell 2000 (NYSE:IWM) tumbled 6.47, or 1.53%, to 416.71, while the S&P 500 toppled 1.2% to 778.94, and the Dow fell 89 points, or 1.19%, to 7,466 — the lowest level since 2002. The Dow had dropped as low as 7,447.55 during the session.

Thursday started off on poor footing, with back to back economic data releases that solidified the state of the current economic climate. Before the opening the Labor Department released a report of initial jobless benefit claims, did little to inspire investor confidence that the employment situation in the United States was getting any better. The number of Americans filing new claims for unemployment held steady last week at 627,000, versus forecasts for a drop to 620,000, but the number of Americans continuing to file jobless claims rose to a record of nearly 5 million.

Also out before the opening was monthly data on wholesale prices, which increased more than expected last month, due in part to higher energy costs. The Producer Price Index rose 0.8% after falling 1.9% in December; economists predicted it would rise 0.3%. The Philadelphia Fed index, a reading on manufacturing, fell to minus 41.3 from minus 24.3 in January. Economists thought it would dip to minus 25; it was the lowest reading since 1990, according to High Frequency Economics.

Large-cap Hewlett-Packard was the biggest decliner on the Dow today after the hardware and software maker missed sales expecations and cut its full-year profit outlook.

"We think this could be a blow to investor sentiment," wrote J.P. Morgan analyst Mark Moskowitz in a note.

In other market news, Treasury prices slid as investors sought safety in government debt. The dollar was mixed versus other major currencies. Oil prices spiked 14%, while gold prices dipped a slight 0.33% to $975 per ounce.

Today’s small-cap percentage gainers include Exactech, Inc. (Nasdaq:EXAC), which surged 20% on solid fourth-quarter and full-year 2008 financial results. Also flying high was RC2 Corporation (Nasdaq:RCRC), up 25% after being upgraded to “buy,” and Dress Barn, Inc. (Nasdaq:DRBN), which saw a nice 11% rise after the retailer’s CEO commented that same-store sales were up so far for 2009.

On the downside, LDK Solar Co. (NYSE:LDK) tumbled 22% on a weak Q4 forecast. CryoLife, Inc. (NYSE:CRY) plummeted 23% after its Q4 profit missed the Street’s estimates and it forecasted a lower 2009 EPS. NutriSystem Inc. (Nasdaq:NITRI) fell over 11% after swinging to a Q4 loss and declining to issue full-year guidance.

LDK Solar Co Ltd. (Nasdaq:LDK), NCI Building Systems Inc. (Nasdaq:NCS) and CryoLife Inc. (Nasdaq:CRY) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Fisher Communications Inc. (Nasdaq:FSCI), OceanFirst Financial Corp. (Nasdaq:OCFC), Avatar Holdings Inc. (Nasdaq:AVTR), Cathay General Bancorp (Nasdaq:CATY), First Midwest Bancorp Inc. (Nasdaq:FMBI) and MB Financial Inc. (Nasdaq:MBFI).

LDK Solar Co Ltd. (Nasdaq:LDK), CryoLife Inc. (Nasdaq:CRY) and NutriSystem Inc. (Nasdaq:NTRI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NCI Building Systems Inc. (Nasdaq:NCS), Stewart Information Services Corp. (Nasdaq:STC), Vasco Data Security International Inc. (Nasdaq:VDSI), Wells Fargo Cap.(Nasdaq:WSF), Capital City Bank Group Inc. (Nasdaq:CCBG) and Trinity Industries Inc. (Nasdaq:TRN).

Zale Corp. (Nasdaq:ZLC), SeaChange International Inc. (Nasdaq:SEAC) and Herley Industries Inc. (Nasdaq:HRLY) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FiberNet Telecom Group Inc. (Nasdaq:FTGX), DXP Enterprises Inc. (Nasdaq:DXPE), CryoLife Inc. (Nasdaq:CRY), Zep Inc. (Nasdaq:ZEP), Starrett LS Co. (Nasdaq:SCX) and Almost Family Inc. (Nasdaq:AFAM).

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

Paging doctor profits: with medical equipment stocks up about 6.3% year-to-date versus a 10.9% decline for the S&P 1500, manufacturers Somanetics Corporation (Nasdaq:SMTS) and CryoLife, Inc. (NYSE:CRY) both have unusually clean bills of health in today’s market.

Somanetics Corporation manufactures and markets the INVOS System, a non-invasive monitoring device that measures the patient’s blood oxygen levels in the brain and muscles. Blood oxygen must be carefully controlled during surgeries since brain damage occurs quickly without sufficient oxygen. The INVOS device consists of a portable monitor and single-use disposable sensors. Somanetics has an installed base of over 2,000 monitors and sold more than 371,000 disposable sensors last year. The company markets its system through a direct sales force in the United States and independent distributors in Europe, Canada, the Middle East and South Africa

Surgeons and anesthesiologists use the INVOS System to take corrective action when oxygen imbalances are detected, thus improving patient outcomes and reducing care costs. Hospitals have a strong incentive to manage care costs since much of their reimbursement is based on fixed fees. By using the INVOS System to monitor patients during surgeries, hospitals can avoid unnecessary complications and lengthened hospital stays. 

The INVOS System is already being used in adult and pediatric cardiac surgeries. Somanetics has also developed and begun marketing a smaller disposable sensor for use in neonatal applications. The neonatal device has already been installed in 33 U.S. hospitals and is attracting considerable attention; some 200 neonatal . . .

ENGlobal Corp. (Nasdaq:ENG), CryoLife Inc. (Nasdaq:CRY) and CombiMatrix Corp. (Nasdaq:CBMX) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.           
        
Here are the new 52-week highs among small caps:  

Micromet Inc. (Nasdaq:MITI), Industrial Services of America Inc. (Nasdaq:IDSA) and Protherics (Nasdaq:PTIL) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.     

Also included among the results: Donegal Group (Nasdaq:DGICA), USA Truck Inc. (Nasdaq:USAK), Hawk Corp. (Nasdaq:HWK), CryoLife Inc (Nasdaq:CRY), Hanger Orthopedic Group Inc. (Nasdaq:HGR) and China Holdings Acquisition (Nasdaq:HOL).        

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

Gentiva Health Services Inc (Nasdaq:GTIV), CryoLife Inc (Nasdaq:CRY) and Computer Task Group Inc (Nasdaq:CTGX) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: LHC Group Inc (Nasdaq:LHCG), Overhill Farms Inc (Nasdaq:OFI), Ness Technologies Inc (Nasdaq:NSTC), Allos Therapeutics Inc (Nasdaq:ALTH), Parlux Fragrances Inc (Nasdaq:PARL) and National Research Corp (Nasdaq:NRCI).

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

Citizens & Northern Corp (Nasdaq:CZNC), Tyler Technologies Inc (Nasdaq:TYL) and Ames National Corp (Nasdaq:ATLO) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Bryn Mawr Bank Corp (Nasdaq:BMTC), Nabi Biopharmaceuticals (Nasdaq:NABI), ARGON ST Inc (Nasdaq:STST), CryoLife Inc (Nasdaq:CRY), International Assets Holding Corp (Nasdaq:IAAC) and PC-Tel Inc (Nasdaq:PCTI).

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

Axsys Technologies Inc (Nasdaq:AXYS), Citizens & Northern Corp (Nasdaq:CZNC) and Marten Transport Ltd (Nasdaq:MRTN) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ezcorp Inc (Nasdaq:EZPW), OceanFirst Financial Corp (Nasdaq:OCFC), First Bancorp Inc (ME) (Nasdaq:FNLC), CryoLife Inc (Nasdaq:CRY), American CareSource Holdings Inc (Nasdaq:XSI) and Hawaiian Holdings Inc (Nasdaq:HA).

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

It’s not much fun when you offer to give your heart to the apple of your eye and the transaction is declined. Oh, it’s painful, but usually nothing a long bubble bath or a series of cold, fermented beverages can’t wash away.

However, it’s a true matter of life and death when a transplant recipient’s body rejects actual donated heart tissue.

That’s why doctors and investors alike are excited by the launch of a new technique developed by Kennesaw, Ga.-based CryoLife, Inc. (NYSE:CRY) called SynerGraft that’s expected to significantly reduce transplanted heart valve rejection, not to mention boost revenues along the way.

This is big news for the $256 million market cap developer of biomaterials and surgical implant devices that knows a thing or two about rejection itself (more on that shortly).

Among its enviable arsenal of products, CryoLife offers: an increasingly profitable surgical adhesive called BioGlue, which alone generates around 45% of total revenues; a wound sealer called BioFoam, currently being modified for battlefield applications with military R&D funding; transplantable porcine heart valves; and vascular grafts of bovine tissue.

Besides these products, the company is also a well-known leader in the cryo-preservation and distribution of donated cardiovascular and vascular tissue for transplant. CryoLife was hit hard in 2002, though, when it was ordered by the U.S. Food and Drug Administration to recall and halt the production and sale of non-valved cardiac vascular and orthopedic tissue after reports of infections and injuries resulting from implanted tissues surfaced. The order prompted huge sell-offs of the stock.

Then, heartbreakingly, after just getting its circulation back with improved quality controls, third-party accreditation and regained FDA approval, CryoLife once again . . .

The Russell 2000 (NYSE: IWM) is falling on news of worse-than-expected earnings forecasts from major financial players. At 1:26 p.m. ET, the small-cap index had retreated 8.53 points, or 1.18%, to 711.68. The Dow Jones Industrial Average (INDU) was down 207.20 points, or 1.61%, to 12,645.89.

The bears are dominating trading as stocks small and large are losing ground on news that the strain from the problems in the subprime mortgage sector has spread.

Merrill Lynch & Co., Inc. (NYSE: MER), the world’s largest brokerage house, reported before the start of trading that it may incur $15 billion in losses from investments in securities backed by mortgage loans.

That’s more than twice what the New York-based company had initially projected and an indicator that the problems stemming from the stagnation in the U.S. housing market continue to ripple through financial markets.

More bearish news came from luxury jewelry seller Tiffany & Co. (NYSE: TIF), which lowered its guidance for the fiscal year, and credit card issuer American Express Co. (NYSE: AXP), which announced a fourth-quarter pretax charge of about $440 million due to slower spending by card members and an increase in delinquencies.

The American consumer is still spending money, but retail sales have slackened due to high energy costs.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are falling on more news of financial trouble stemming from the subprime meltdown.
 
At 10:33 a.m. ET, the small-cap index had lost 9.64 points, or 1.34%, to 710.57. The Dow Jones Industrial Average (INDU) was off 184.12 points, or 1.43%, to 12,668.97.

Stocks opened in negative territory following news that Merrill Lynch & Co., Inc. (NYSE: MER) may suffer $15 billion in losses from investments in securities backed by mortgage loans.

The loss, which is twice what the New York-based investment bank had initially estimated, is an unpleasant reminder of how shockwaves from the stagnating U.S. housing market continue to ripple through financial markets.

There was more bearish news from the financial sector as credit card issuer American Express Co. (NYSE: AXP), announced that it will absorb a fourth-quarter pretax charge of about $440 million due to slower spending by card members and an increase in delinquencies. The company said that it now expects fourth-quarter earnings below the level a year earlier.

Many mortgage lenders nationwide have taken a hit and even declared bankruptcy as U.S. home prices have stagnated and many borrowers have defaulted on their loans and gone into foreclosure. Lenders frequently packaged loans and sold them as securities to financial companies, which have in turn also incurred billions in losses.

Shares of CryoLife Inc. (Nasdaq: CRY) are higher following news before the start of trading that maker of biomaterials and implantable medical devices reported a rise in third-quarter profit.

Net income for the most recent three-month period was $2.5 million, or $0.09 per share, compared with a profit of $0.17 million, or $0.00 per share, during the third quarter of 2006. Two analysts polled by Thomson Financial were anticipating smaller earnings of $0.04 per share.

Revenues increased 11% to $22.2 million from $20 million a year earlier, which is a whisper above Wall Street’s projected revenue of $22 million.

“The increase in non-GAAP earnings in the third quarter reflects our continued growth in our core cardiac and vascular tissue processing business,” said president and CEO Steven Anderson.

Atlanta-based CryoLife specializes in devices for the preservation of human cardiac and vascular cells and tissues, as well as developing surgical adhesives that allow surgeons to repair cardiac and vascular anomalies.

At 3:31 p.m. ET, shares of CryoLife (CRY) were up $0.76, or 11%, to $7.51. That’s far from the 52-week high of $15.20, which was touched on June 1. The 52-week low of $5.89 was set on Nov. 1, 2006.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are still well below the flat line on negative news from corporate heavyweights. At 2:01 p.m. ET, the small-cap index had dropped 25.55 points, or 3.9%, to 802.47. The Dow Jones Industrial Average (INDU) had lost 264.27 points, or 1.9%, to 13,665.74.

The day began with sharp declines on news that Exxon Mobil Corp. (NYSE: XOM) reported a bigger-than-expected drop in third-quarter profit and missed Wall Street’s expectations, while Citigroup Inc. (NYSE: C) was downgraded to “sector underperform” from “sector perform” by investment bank CIBC World Markets over concerns that it might have to cut its dividend to raise more than $30 billion to shore up its capital.

Stocks dove so sharply that trading curbs were introduced to prevent a massive sell-off.

The overwhelmingly bearish mood is also due to investors’ realizations that an additional cut in the target interest rate is unlikely during the remainder of 2007.

On Wednesday the U.S. Federal Reserve lowered the federal funds rate to 4.5% from 4.75% but made no reference about the possibility of future action.

In economic news, the U.S. Commerce Department reported before the opening that the price index for personal consumption expenditures, a measure of inflation, added 0.2% in September after staying put in August. The core PCE, which excludes the more volatile costs of food and energy, also gained 0.2%.

E-Z-EM, Inc. (Nasdaq: EZEM), G. Willi-Food International Ltd. (Nasdaq: WILC) and ShengdaTech, Inc. (Nasdaq: SDTH) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

Biomaterials, medical device and tissue processing company CryoLife, Inc. (NYSE: CRY) CryoLife said today on a conference call that it is scheduled to begin animal testing in the third quarter on its product BioFoam, which is a protein hydrogel foam for rapidly filling and sealing open wounds.

Encouraged by positive preliminary test results company officials said that spending associated with its BioFoam product should increase in the third quarter significantly. Preliminary tests were conducted recently to assess if the product worked on lactated organs, and results were positive, the company said. 

CryoLife also said it received $2 million from the U.S. government toward its BioFoam product and that the U.S. military is keenly interested in the product and its results. The company said it gives the military updates periodically; however, it still awaits FDA approval.

Earlier today, the Atlanta, Ga.-based company reported net income for the second quarter ended June 30 of $1.3 million, or $0.05 per basic and fully diluted common share, compared with net income of $0.22 million, or $0.00 per basic and fully diluted common share, in the second quarter of 2006. Two analysts polled by Thomson Financial had anticipated earnings of $0.04 per share.

Revenues increased 11% to $23 million, compared with $20.8 million in the second quarter last year. Two analysts polled by Thomson Financial were expecting revenues of $22.97 million.