Tag - Dbrn

East West Bancorp Inc. (Nasdaq:EWBC), Dress Barn Inc. (Nasdaq:DBRN) and Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Monro Muffler Brake Inc. (Nasdaq:MNRO), JDA Software Group Inc. (Nasdaq:JDAS), AgFeed Industries Inc. (Nasdaq:FEED), Mercury Computer Systems Inc. (Nasdaq:MRCY), Century Aluminum Co. (Nasdaq:CENX) and Orexigen Therapeutics Inc. (Nasdaq:OREX).

Stocks moved higher today after several positive reports reversed early downward trading trends. Investors initially drove down stocks on news that first time unemployment claims increased by 15,000 last week.

Gains were made in homebuilders like Lennar (NYSE:LEN), KB Homes (NYSE:KBH), and Toll Brothers (NYSE:TOL) as well as retailers like Bed Bath & Beyond (Nasdaq:BBBY), Kirkland's (Nasdaq:KIRK), and Pier One (NYSE:PIR). Both sectors have seen bankruptcies (Linens and Things, Circuit City, among others) and layoffs over the past year as the souring economy has brought housing starts to a crawl and forced consumers to pull back in discretionary spending.

The broader indexes were up today with the Dow finishing at 8,472.40, the Nasdaq showing positive gains to close up 37.2 points to close at 1,829.54, and the S&P 500 posting a 2.14% gain to close at 920.26.

Small-cap stocks in the Russell 2000 helped propel that index 2.87% to close at 509.14 today.

Leading small-cap gainer was Jazz Pharmaceuticals (Nasdaq:JAZZ) up 37% on news that the late-stage results for its fibromyalgia drug had met the company's main goal. The drug, Xyrem, is scheduled to be submitted for marketing approval. Gains in Jazz shares outpaced gains made by other, better known, pharmaceutical manufacturers including Pfizer (NYSE:PFE), Merck (NYSE:MRK), and share price losses posted by GlaxoSmithKline (NYSE:GSK).

As we've mentioned in previous updates, this follows a general trend of sector rotation as investors are looking for more defensive plays, like healthcare and pharma, over the summer.

Other small-cap gainers for today include CPI International (Nasdaq:CPII) up 32%; Tween Brands (NYSE:TWB) up 27% on news that Dress Barn (Nasdaq:DBRN) will buy it for roughly $157 million in stock; Royale Energy (Nasdaq:ROYL) up 32.5%, an energy company involved in development and exploration of natural gas and oil in California, Texas, and the Rocky Mountain region.

Small-cap decliners were lead by medical oral diagnostics maker OraSure Technologies (Nasdaq:OSUR) down 23% on news that it needs to conduct more additional clinical trials to get approval for its hepatitis C virus test. The exact timing and costs for these additional tests have not been disclosed by OraSure and investors drove down share prices based on this uncertainty.

A number full of other small-cap stocks were big decliners today including data marketing services provider Acxiom Corporation (Nasdaq:ACXM) down 22%; Capital Bank Corporation (Nasdaq:CBKN) down 20%; and Cordorus Valley Bancorp (Nasdaq:CVLY) down 19%.

The Fed has spoken. Interest rates are not going higher anytime soon. And the Fed announced no change to its $1.75 bond purchase program. Bonds sold off, suggesting that traders hoped the Fed would do more to put a floor under prices.  

The Fed made it a point to say that "…inflation will remain subdued for some time." But the Fed also hasn't made any comments about target levels of inflation, or what levels of inflation would make it uncomfortable. With the amount of money being pumped into the system, this is a concern to me. Especially with commodity prices rising and the spread between 10-year Treasuries and 10-year inflation adjusted bonds (TIPS) increasing over the last month.  

*****Nothing will kill whatever recovery the Fed and others see coming faster than higher interest rates fueled by inflation fears.  

Most signs point to an imminent economic recovery. No one thinks it will be strong. But two straight months of increase for Durable Goods orders has most convinced that recovery, and a small level of inflation, is here.  

The Fed, in the other hand, is still fighting deflation. Unemployment is still on the rise, and modest improvement in the housing market doesn't mean we're anywhere close to working off the massive inventory of unsold homes. 

Given the very low expectations for economic recovery, maybe 2% growth in 2010, how does the Fed hike interest rates and start sopping up liquidity? I believe inflation will have to become a concern before the Fed can act.  

*****In case you missed last night's special Internet Video Conference, called Inflation Busters: Discover the Stocks to Grow and Protect Your Wealth, I have a replay ready for you. You can access it HERE.   

*****Reuter's reported yesterday that Rep. Barney Frank and another Democrat wrote a letter to the CEOs of Freddie Mac and Fannie Mae asking them to relax their standards for condo loans.  

Apparently Freddie Mac and Fannie Mae recently said they wouldn't give loans to potential condo buyers if the condo development was less than 70% occupied. Makes sense, these days. But Frank and his friend are worried the tighter standards will impair the housing market and constrict future developments. 

This is appalling. The only thing we need more than more condos is more Hummers.  
If the government truly thinks we can simply reflate our way back to prosperity, they are sadly mistaken. This recession is new animal, one where both consumers and corporations took on way too much debt. That debt now sits in the form of unsold homes, many of which have been foreclosed upon. 

These homes (and condos) must get sold. But they must get sold to people with the means to pay the loans. Simply lowering lending standards doesn't do it and may well prolong the pain of this recession. Isn't the lowering of lending standards much of what got us into this mess to begin with? 

*****China's still throwing its cash around, this time offering $7.2 billion for oil exploration company Addax Petroleum (LSE:AXC.L). It would be state-run Sinopec (NYSE:SNP) actually doing the deal. But after the attempt to buy a $19 billion stake in Rio Tinto (NYSE:RTP) it should be obvious that China is intent on securing the commodities it needs. 

And in a world starved for cash, don't be surprised when China gets what it wants.  

*****Last year, travel group AAA reported that car travel over the 4th of July was down 10.5%. This year, it will fall another 1.9%.  Airline travel is expected to be up nearly 5%.  

 

Dress Barn Inc. (Nasdaq:DBRN), Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) and A Power Energy Generation Systems Ltd. (Nasdaq:APWR) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Century Aluminum Co. (Nasdaq:CENX), IMAX Corp. (Nasdaq:IMAX), Celldex Therapeutics Inc. (Nasdaq:CLDX), AgFeed Industries Inc. (Nasdaq:FEED), Canadian Solar Inc. (Nasdaq:CSIQ) and Healthways Inc. (Nasdaq:HWAY).

Dendreon Corp. (Nasdaq:DNDN), DryShips Inc. (Nasdaq:DRYS) and A Power Energy Generation Systems Ltd. (Nasdaq:APWR) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: BLDRS Emerging Markets 50 ADR Index (Nasdaq:ADRE), Medarex Inc. (Nasdaq:MEDX), UAL Corp. (Nasdaq:UAUA), Dress Barn Inc. (Nasdaq:DBRN), Gymboree Corp. (Nasdaq:GYMB) and Take Two Interactive Software Inc. (Nasdaq:TTWO).

Sun Healthcare Group Inc. (Nasdaq:SUNH), DryShips Inc. (Nasdaq:DRYS) and Isle of Capri Casinos Inc. (Nasdaq:ISLE) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ameristar Casinos Inc. (Nasdaq:ASCA), Grand Canyon Education Inc. (Nasdaq:LOPE), Eclipsys Corp. (Nasdaq:ECLP), Old Dominion Freight Line Inc. (Nasdaq:ODFL), Dress Barn Inc. (Nasdaq:DBRN) and Resources Connection Inc. (Nasdaq:RECN).

Exactech Inc. (Nasdaq:EXAC), RC2 Corp. (Nasdaq:RCRC) and Barnes Group Inc. (Nasdaq:B) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dress Barn Inc. (Nasdaq:DBRN), Ameris Bancorp (Nasdaq:ABCB), TranS1 Inc. (Nasdaq:TSON), eLong Inc. (Nasdaq:LONG), American Woodmark Corp. (Nasdaq:AMWD) and EnerNOC Inc. (Nasdaq:ENOC).

Small-cap stocks remained lower into midday trading, but were also well off the morning lows as oversold conditions, erratic bargain-hunting, firm tech and retail stocks helped limit some of the gloom surrounding the latest economic news. The market continued to fret about the fate of domestic automakers, and continued to suffer money flow exit into safe-haven docks. Some of today’s small-cap gainers are Gymboree Corp. (Nasdaq:GYMB), KLA-Tencor Corp (Nasdaq:KLAC) and Dress Barn (Nasdaq:DBRN).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund was off 6.7% at mid-session.  
• Crude oil prices tumbled below $50 a barrel, reaching the lowest point since May 2005 and energy stocks were taking a beating today.  
• The market continues to fret about the fate of domestic automakers, and continued to suffer money flow exit into safe-haven docks.  
• The chart structure for small caps is awful right now, with the Russell 2000 in freefall mode through support points that date back more than five years.

Small Cap Gainers:

• Gymboree Corp. is up 25% in afternoon trading as the children’s retailer beat the earnings forecast. See (Nasdaq:GYMB).  
• Analysts' projections of KLA-Tencor Corp. remain unaffected after the semiconductor company announced it would cut 15% of its workforce. Shares up 10.3%. See (Nasdaq:KLAC).
• Dress Barn up about 10% on an increase in Q1 net earnings. See (Nasdaq:DBRN).
• True Religion Apparel up nearly 6% today following a surge in Q3 profits reported earlier this month. See (Nasdaq:TRLG).

Small Cap Losers:

• Media General shares lost as much as 54% of their value on Thursday after Harbinger Capital sold stock in the newspaper publisher. See (NYSE:MEG).
• Arbor Realty Trust hit a new 52-week low of $1.90, down from a 52-week high of $19.20. Shares are currently down 31%. See (NYSE:ABR).  
• REITs continue to bleed red in the weathered economy and ProLogis is no exception. Shares of the REIT are down over 22%. See (NYSE:PLD).  
• Suntech Power Holdings cuts forecast, shares fall to all-time low of $5.33. See (NYSE:STP).

Doral Financial Corp. (Nasdaq:DRL), Gymboree Corp. (Nasdaq:GYMB) and The9 Ltd. (Nasdaq:NCTY) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ATA Inc. (Nasdaq:ATAI), RC2 Corp. (Nasdaq:RCRC), Alaska Air Group Inc. (Nasdaq:ALK), Hibbett Sports Inc. (Nasdaq:HIBB), Dress Barn Inc. (Nasdaq:DBRN) and Janus Capital Group Inc. (Nasdaq:JNS).

Dress Barn Inc. (Nasdaq:DBRN) saw its shares slip by nearly 4% this morning after reporting a drop in fourth-quarter earnings.

For the three months ended July 26, the Suffern, N.Y.-based specialty apparel retailer earned $22.1 million, or $0.34 per share, compared with $33.6 million, or $0.48 per share, in last year’s fourth quarter.

The company cited “a very challenging retail environment” for the decline.

By late morning, Dress Barn is at $14.78, down $0.58 from Wednesday’s close. The stock has ranged between $9.35 and $17.95 in the past year.

For detailed price information and news stories on Dress Barn, click DBRN.

SurModics, Inc. (Nasdaq:SRDX), Evergreen Solar Inc. (Nasdaq:ESLR) and Palm Inc. (Nasdaq:PALM) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF), Bankrate Inc (Nasdaq:RATE), Ceragon Networks Ltd. (Nasdaq:CRNT), Brigham Exploration Co. (Nasdaq:BEXP), Dress Barn Inc. (Nasdaq:DBRN) and Clean Energy Fuels Corp. (Nasdaq:CLNE).

Here are the most actively traded companies among small caps:

Akeena Solar Inc (Nasdaq:AKNS), UAL Corp (Nasdaq:UAUA) and Dress Barn Inc (Nasdaq:DBRN) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

TiVo Inc (Nasdaq:TIVO), China Sunergy Co Ltd (Nasdaq:CSUN) and China Finance Online Co Ltd (Nasdaq:JRJC) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

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

Small-cap stocks are ready to begin trading on a bullish note for the second consecutive session, while investors await data on pending November U.S. home sales. The numbers will be released shortly after the opening.

If KB Home is any indication, the U.S. housing market continues to agonize. The Los Angeles, Calif.-based builder of single-family homes reported this morning that its fiscal fourth-quarter loss was $772.7 million, or $9.99 per share, compared with a loss of $49.6 million, or $0.64 per share, a year ago.

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:

• Sirtris Pharmaceuticals, Inc. (SIRT), up 14% on news of positive results from a clinical study of a diabetes drug.
• Newport Corp. (NEWP), up 7% on news that it expects fourth-quarter earnings above its previous forecast.
• Websense Inc. (WBSN), up 6% to on news it expects to beat its previously released fourth-quarter revenue projections.

Biggest percentage losers:

• ChemGenex Pharmaceuticals Ltd. (CXSP), down 11%.
• Hill International, Inc. (HINT), down 4% on news of a joint venture with an investment management firm.
• The Dress Barn, Inc. (DBRN), down 3%.