Tag - Cybs

Accuray Inc. (Nasdaq:ARAY), RG Barry Corp. (Nasdaq:DFZ) and China Biotics Inc. (Nasdaq:CHBT) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CyberSource Corp. (Nasdaq:CYBS), Overstock.com Inc. (Nasdaq:OSTK), Colony Bankcorp Inc. (Nasdaq:CBAN), Abaxis Inc (Nasdaq:ABAX), Saia Inc. (Nasdaq:SAIA) and Acxiom Corp. (Nasdaq:ACXM).

Small-cap stocks edged higher on the opening, underpinned by a GDP report that wasn’t as bad as feared and by a smattering of decent earnings reports on the small-cap front that lifted the Russell relative to the large-cap indices. But those early gains were trimmed as the market remains concerned about the economy and corporate profits. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.17, or 0.04%, at 453.07.

The quarterly GDP report came in at minus 3.8%, which was quite a bit better than feared: the pre-release forecast called for a slide of 5.3%. Even though the report showed less contraction than expected in the economy, this still marked the worst showing for the U.S. since 1982. In addition, consumer spending dropped for two consecutive quarters for the first time since 1990-1991 as people struggle with sinking home values, mounting job losses and stock market devaluation. There was some concern that the “upside” surprise on GDP only delays the pain, especially as corporate layoffs have escalated in January.

While the GDP report was the primary target on everyone’s radar this morning, there were also economic releases on the employment cost index (it rose 0.6%, about what was expected); the Chicago Purchasing Manager’s Survey; and the Michigan sentiment survey. The Chicago headline figure came in at 33.3, which was below the forecast of 34.9 and which marked a new cycle low for the reading on Midwest manufacturing. The market appeared to slide after the Chicago number came out. Meanwhile, the Michigan figure was at 61.2, relatively close to the projection of 61.9.

One measure of just how ugly things have become, the Goldman Sachs Analyst Index (GSAI), a survey of Goldman’s equity analysts across a range of sectors, . . .

Small-cap stocks edged higher on the opening, underpinned by a GDP report that wasn’t as bad as feared and by a smattering of decent earnings reports on the small-cap front that lifted the Russell relative to the large-cap indices. But those early gains were trimmed as the market remains concerned about the economy and corporate profits. Some of today’s small-cap gainers were Saia Inc. (Nasdaq:SAIA), CyberSource Corp. (Nasdaq:CYBS) and Digital River (Nasdaq:DRIV).

Other Market Watch highlights today included:

• In Asian trading, bank and tech stocks paced the declines, although shares in Hong Kong were up modestly hoping for rate cuts out of China.  
• In overseas trading last night, Asian stocks took a hit, breaking a string of four consecutive winning days.  
• The Goldman Sachs Analyst Index, a survey of Goldman’s equity analysts across a range of sectors, fell to an all-time low in January.  
• The Chicago headline figure came in at 33.3, which was below the forecast of 34.9.

Small Cap Gainers:

• Saia Inc. gapped higher after reporting quarterly profits, with the trucking firm climbing 18%. See (Nasdaq:SAIA).
• CyberSource Corp. gapped higher and jumped 20% as the electronic payment provider posted solid earnings results. See (Nasdaq:CYBS).  
• Digital River announces Q4 and full-year 2008 financial results; shares pop 16%. See (Nasdaq:DRIV).
• Overstock.com got an earnings lift today, with the online retailer climbing 15%. See (Nasdaq:OSTK).  

Small Cap Losers

• Data Domain tops Q4 EPS by $0.06, issues mixed guidance; shares fall 16% in pre-market. See (DDUP). 

Geron Corp. (Nasdaq:GERN), DryShips Inc. (Nasdaq:DRYS) and Palm Inc. (Nasdaq:PALM) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Infinera Corp. (Nasdaq:INFN), Ariba Inc. (Nasdaq:ARBA), Ciena Corp. (Nasdaq:CIEN), Harmonic Inc. (Nasdaq:HLIT), CyberSource Corp. (Nasdaq:CYBS) and Neogen Corp. (Nasdaq:NEOG).

Like most things that go the way of the Internet, so, too, goes commerce. Forrester Research estimates that U.S. e-commerce revenues were at $259.1 billion last year, and are growing at nearly 60% annually. This bodes well for CyberSource Corporation (Nasdaq:CYBS) and CAM Commerce Solutions, Inc. (Nasdaq:CADA), two companies benefiting from the move to online commerce from in-person banking.

CyberSource provides electronic payment and risk-management tools for businesses processing orders over the Internet. Approximately 228,000 customers use CyberSource tools, including half the companies in the Dow Industrial Average.

The company offers CyberSource Advanced service for merchants who want to accept online payments via credit cards, corporate procurement cards, electronic checks and the Bill Me Later service. CyberSource Essentials allows merchants to process credit card payments via websites and also processes telephone, fax and mail order payments using a Web-based virtual terminal. The company’s enterprise software processing platform, CyberSource Payment Manager, can authorize and settle payments originating from multiple sales channels. The company’s tools for risk management include Managed Risk Service, which offers professional analysis, risk modeling and monitoring, and Advanced Fraud Screen, a risk-scoring tool for assessing fraud risk, authenticating payers, verifying delivery addresses, making tax payments and ensuring export regulatory compliance.

CyberSource has strategic alliances with most of the leading online payment processors including AmeriNet, Checkfree, FDC/Telecheck, 14 Commerce, PayPal and Visa USA.

With online fraud running rampant, demand for fraud-screening services is rising. Visa and MasterCard are now even requiring merchants to comply with a comprehensive list of payment card security standards to limit the threat of identity theft. Faced with these . . .

The Russell 2000 (NYSE: IWM) and Dow lost big today as news of disappointing earnings and residual credit fears scared investors. The small-cap index suffered the biggest loss of the major U.S. indices, falling 26.24 points, or 3.18%, to 798.79. The Dow Jones Industrial Average (INDU) retreated for the fifth time this week, letting go 366.94 points, or 2.54%, to 13,522.02.

On a year-to-date basis, the Russell 2000 has increased 1.44%, while the Dow has added 8.34%.

The Russell 2000 futures were flat before the start of trading but the index opened in negative territory on news that Charlotte, N.C.-based Wachovia Corp. (Nasdaq: WB), the fourth largest U.S. bank, reported a 10% decline in its third-quarter profit due to difficult credit market conditions.

The bank also said that that it recorded a provision for credit losses of $408 million, about four times the level during the same three months of 2006.

The news came as an unpleasant reminder that the turmoil in the subprime mortgage sector, which peaked during summer months, is still relevant and capable of spreading shockwaves throughout the financial sector.

The subprime mortgage sector started bleeding earlier this year after U.S. housing prices went into reverse in the second half of 2006. The ongoing housing recession has been identified by observers as the biggest risk to the economy.

CyberSource Corp. (Nasdaq: CYBS) soared after the electronic payment processor said its outlook is healthy and that third-quarter results were “strong.” The company also said its earnings estimates should rise after it closes an acquisition.

In June, Mountain View, Calif.-based CyberSource said it would buy Aurorize.net Holdings Inc., an electronic merchant services provider, for $565 million in a cash and stock deal.

After Thursday’s close, CyberSource recorded third-quarter revenue of $26.5 million, above analyst estimates of $23.81 million, and above $17.4 million a year earlier. The firm’s quarterly net income was $0.34 million, or $0.01 per share, below Wall Street projections of $0.06 per share and compared with $0.29 million, or $0.01 per share, during the same period of 2006.

"We are very pleased with our record results this quarter, which reflect the strength of our broadening customer base and our momentum within the eCommerce market," CEO Bill McKiernan, said in a statement. "CyberSource added approximately 2,000 new customers in the quarter, increasing our customer base to approximately 22,000."

For the fourth quarter, CyberSource said it expects $31.5 million in revenue, above analyst estimates of $27.66 million. The firm expects net income of $1.7 million, or $0.04 per share, during the fourth quarter, which is below Wall Street estimates of $0.13 per share. These estimates do not include any benefit that would be realized by the acquisition of Authorize.net.

Jonathan Maietta, an analyst for Needham & Co., raised his rating today on Cybersource’s stock to "buy" from "hold.”

In afternoon trading, CYBS shares are soaring 18.98%, or $2.39, at $14.98. Over the last 52 weeks, shares have ranged from $9.37 to $16.13.

CyberSource Corp. (Nasdaq: CYBS), Authorize.Net Holdings, Inc. (Nasdaq: ANET) and LaserCard Corp. (Nasdaq: LCRD) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

The Russell 2000 (NYSE: IWM) is posting steep losses as investors react to news of poor earnings and more credit fears. At 1:37 p.m. ET, the small-cap index was down 13.78 points, or 1.67%, to 811.25. The Dow Jones Industrial Average (INDU) had retreated 2098.26 points, or 1.5%, to 13,680.70.

The bears have been running the show ever since Wachovia Corp. (Nasdaq: WB) reported before the opening that its third-quarter profit fell 10% due to difficult credit market conditions.

Charlotte, N.C.-based Wachovia, the fourth largest U.S. bank, also said that it recorded a provision for credit losses of $408 million, about four times the level during the same three months of 2006.

Contributing to more poor earnings news was heavy equipment maker Caterpillar Inc. (NYSE: CAT), which announced that quarterly profit missed analysts’ forecasts. The company forecasts that the ongoing slump in the U.S. housing sector will result in a 12% drop in sales of machinery and engines in 2007. Peoria, Ill.-based Caterpillar expects international sales to pick up the slack.

In commodities news, the price of oil has eased $1.43 to $88.04 a barrel. The recent spike in oil prices was partially attributed to tensions along the border between Iraq and Turkey and the weakness of the U.S. dollar.

The Russell 2000 (NYSE: IWM) is down steeply as the major U.S. indices are swimming in a sea of red following news of weak earnings.

At 10:34 a.m. ET, the small-cap index had lost 10.38 points, or 1.26%, to 814.65. The Dow Jones Industrial Average (INDU) was off 162.09 points, or 1.17%, to 13,726.87.

With little on the economic front, news of poor earnings from major corporate players is grabbing the headlines and spooking investors.

Charlotte, N.C.-based Wachovia Corp. (Nasdaq: WB), the fourth largest U.S. bank, reported before the opening that its third-quarter profit fell 10% due to difficult credit market conditions.

Net income stumbled to $1.69 billion, or $0.89 per share, compared with $1.88 billion, or $1.17 per share, a year earlier. Wall Street was looking for earnings of $1.03 per share. Wachovia said that it recorded a provision for credit losses of $408 million, about four times the level during the same three months of 2006.

In other disappointing news, heavy equipment maker Caterpillar Inc. (NYSE: CAT) announced a quarterly profit that missed analysts’ forecasts.

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:

Shares of CyberSource Corp. (Nasdaq: CYBS) are tumbling following news of a quarterly profit decline at the Mountain View, Calif.-based company.

The net income for the second quarter ended June 30 was $2.45 million, or $0.02 per share, compared with a net income of $2.57 million, or $0.07 per share, during the same three months of 2006, the provider of electronic payment and risk management solutions announced after Thursday’s close.

Ampex Corp. (Nasdaq: AMPX), Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) and CyberSource Corp. (Nasdaq: CYBS) are the biggest percentage losers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

Packeteer, Inc. (NASDAQ: PKTR), Local.com Corp. (Nasdaq: LOCM) and Avici Systems Inc. (Nasdaq: AVCI) were among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

Allos Therapeutics, Inc. (Nasdaq: ALTH) reported its clinical trial for Efaproxyn failed to show that the drug improved survival in women with breast cancer that spread to the brain.

EPIX Pharmaceuticals, Inc. (Nasdaq: EPIX) announced that it has received a negative response from the FDA regarding the company's appeal for immediate approval of Vasovist, a treatment used to diagnose vascular disease.

Syntax-Brillian Corp. (Nasdaq: BRLC) is launching its new 65” LCD high-definition television today.

Vical Inc. (Nasdaq: VICL) reported that preliminary late-stage trial results showed a drug candidate successfully treated the blood flow disease ischemia by increasing the size of blood vessels.

Analyst William Ho raised his rating on Acorda Therapeutics Inc. (Nasdaq: ACOR) to “buy” from “neutral.”

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

Online payment solutions company Authorize.Net Holdings, Inc. (Nasdaq: ANET) agreed to be acquired by electronic payment and risk management solutions company CyberSource Corp. (Nasdaq: CYBS) today for $565 million.

“We believe this transaction, in the years ahead, will enable us to provide even better support for our channel partner and customers,” said Authorize.Net President, Roy Banks. “We expect this combination of resources to bring new and innovative payment solutions to market faster and more successfully then either company could independently.”

CyberSource, which specializes in providing electronic payment and risk management solutions, will finance the Authorize.Net acquisition with stock and cash. Under the agreement, Authorize.Net shareholders will receive 1.1611 shares of CyberSource common stock for every share of Authorize.Net common stock. Shareholders will also receive a pro-rata share of approximately $125 million in cash.

“This is an investment in growth and scale,” said CyberSource CEO Bill McKiernan. “We believe this combination creates a unique global platform to allow us to better serve the industry and positions CyberSource to support new business opportunities as more payment types migrate to web-based platforms.”

The deal, which is subject to shareholder approval and compliance with regulatory requirements, is expected to close in late September or early October 2007. The transaction is expected to be accretive in the fourth quarter of 2007 on a non-GAAP basis.

CyberSource Corp. (Nasdaq: CYBS) reported it agreed to buy Authorize.Net Holdings Inc. (Nasdaq: ANET) for approximately $565 million in a stock and cash deal.

Trump Entertainment Resorts, Inc. (Nasdaq: TRMP) reported that James B. Perry, its president and CEO, is leaving effective July 1.

Keryx Biopharmaceuticals (Nasdaq: KERX) announced the resignation of its senior VP and CFO Ronald Renaud, which will be effective June 27. Mark Stier, the New York, N.Y.-based company’s chief accounting officer, will assumer Renaud’s responsibilities.

These are the biggest percentage losers in Monday's trading among companies with market capitalizations under $500 million:

The following small-cap companies are making news in after-hours trading:

Shares of Nabi Biopharmaceuticals (Nasdaq: NABI) climbed $0.35, or 6.3%, to $5.88 in after-hours trading today on news of the firm’s plans to sell its Aloprim for Injection product to Ireland’s Bioniche Teoranta for $3.7 million. Boca Raton, Fla.-based Nabi will receive $1.3 million when the deal closes sometime in the second quarter, and another $1 million at the end of 2008.

RightNow Technologies’ (Nasdaq: RNOW) stock dipped $1.26, or nearly 7%, late today despite reporting first quarter income and revenue that topped analysts’ estimates. Looking ahead, the Bozeman, Mt.,-based software company estimate that its second quarter results would fall below analysts’ expectations.
 
Shares of Stamps.com (Nasdaq: STMP) fell $1.05, or nearly 7%, on heavy volume in after-hours trading today after the Los Angeles, Calif.,-based provider of Internet-based postage services reported decreased first quarter revenue. Earnings per share of $0.14, however, were in line with the expectations of four analysts polled by Thomson First Call.

Zhone Technologies Inc.’s (Nasdaq: ZHNE) stock dropped $0.17, or 11.5%, to $1.31 in after-hours trading today despite the news that the Oakland, Calif.-based advanced communications equipment provider had met analysts’ earnings estimates while exceeding revenue expectations. Zhone earned $4.8 million, or $0.03 per share, on revenue of $43.1 million for the quarter ended March 31. Four analysts polled by Thomson First Call had estimated a net loss of 3 cents per share on revenue of $41.8 million.

Shares of Packateer Inc. (Nasdaq: PKTR) rose by $0.22, or 2.5%, to $9 in after-hours trading today despite the Cupertino, Calif.-based WAN application delivery company posting a net loss for the first quarter when 11 analysts polled by Thomson First Call had expected earnings of $0.01 per share. The firm topped revenue expectations – reporting sales of $34.7 million for the quarter ended March 31 versus estimates of $32 million in revenue.