Tag - Ebs

Rackspace Hosting Inc. (Nasdaq:RAX), Savannah Bancorp Inc. (Nasdaq:SAVB) and Federal Mogul Corp. (Nasdaq:FDML) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CryptoLogic Ltd. (Nasdaq:CRYP), Emergent BioSolutions Inc. (Nasdaq:EBS), hhgregg Inc. (Nasdaq:HGG), Perfect World Co Ltd. (Nasdaq:PWRD), Oppenheimer Holdings Inc. (Nasdaq:OPY) and Medallion Financial Corp. (Nasdaq:TAXI).

Ameron International Corp. (Nasdaq:AMN), Portec Rail Products Inc. (Nasdaq:PRPX) and Summit Financial Group Inc. (Nasdaq:SMMF) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Emergent BioSolutions Inc. (Nasdaq:EBS), DSW Inc. (Nasdaq:DSW), Haverty Furniture Co Inc. (Nasdaq:HVT), Robbins & Myers Inc. (Nasdaq:RBN), Alico Inc. (Nasdaq:ALCO) and Rubicon Technology Inc. (Nasdaq:RBCN).

Stocks opened in the green and are continuing their positive trot through midday, buoyed by Tuesday’s news that beleaguered Citigroup (NYSE:C) is operating at a profit.

At 12:27 pm ET, the Russell 2000 (NYSE:IWM) was up 1.39, or 0.38%, at 369.14, while the Dow was up 0.02% at 6,927.77, and the S&P 500 was up 0.22% at 721.18.

Like Tuesday, financial stocks are leading the markets higher today on the Citigroup news, while tech stocks are also seeing a boost after large-cap benchmark Hewlett-Packard’s rating was upgraded.

While the market seems to be in recovery mode, don’t relax just yet. Analysts are warning that the rally will be short-lived and that there remain deep problems etched within the banking industry.

Small-cap stocks trending upward today include On Assignment, Inc. (Nasdaq:ASGN), 23% higher on lower-than-average volume, and YRC Worldwide Inc. (Nasdaq:YRCW), which is 11% higher despite making Moody’s “Bottom Rung List.” Axsys Technologies (Nasdaq:AXYS), a manufacturer of defense surveillance and imaging systems, is up 34% after the small cap put itself up for sale in an auction that drew a first round of bids earlier this week.

Global Markets Up …

Finally, early strength for stocks on Tuesday didn’t turn to weakness. In fact, . . .

Stocks are flying high at midday today on news that Citigroup (NYSE:C) reported it was profitable for the first two months of 2009.

At 1:27 pm ET, the Russell 2000 (NYSE:IWM) is up 19.94, or 5.81%, to 363.20. The Dow is up 4.27% to 6,826.77, and the S&P 500 is up 5.06% to 710.76.

Also helping stocks make large moves today was news that Congressman Barney Frank, chairman of the House financial services committee, said he expects the restoration of a rule that makes it harder to bet that a share's price will fall. Investors were encouraged by Frank's comments.

Financial stocks are in rally mode today following statements made by U.S. Treasury Secretary Timothy Geithner on Monday that the United States has taken more economic action in recent weeks than most countries have in years to ease strife.

Small caps seeing double-digit gains today include Gaylord Entertainment Company (NYSE:GET), up 33% after a proxy deal, and AM Castle (NYSE:CAS), which topped Q4 views and declared a $0.06 per share dividend, sending shares 42% higher.

Stocks up strong

Once again, early strength for stocks yesterday quickly turned to weakness. There is a battle going on between the bears and the bulls. Despite all time lows for consumer sentiment, there is a growing number of analysts and market strategists who believe a rally is at hand.

We’ve been seeing signs of a rally for a couple weeks now. That’s why . . .

Stock market news, commentary and analysis from Chief Investment Strategist Ian Wyatt.

Stocks extended losses during midday trading today, pushed down by poor housing data and by lackluster comments from Fed Chairman Ben Bernanke.

At 12:01 pm ET, the Russell 2000 (NYSE:IWM) was down 6.17, or 1.68%, at 361.63, while the S&P 500 is down 0.79% to 695.25 and the Dow is still below 7,000, currently down 0.46% at 6,732.23.

According to new data released by the National Association of Realtors this morning, the number of homebuyers purchasing existing homes fell 7.7% to a new low of 80.4 in January. Economists were predicting a January reading of 85.1.

Also this morning, Bernanke reiterated to Congress that any semblance of economic recovery hinges on the U.S. government’s ability to stabilize ailing financial markets. The comments did little to soothe investor fears.

Small caps seeing solid rises today included Bruker Corporation (Nasdaq:BRKR), up over 6% after releasing Q4 2008 results and issuing FY 2009 revenue guidance above analysts’ predictions. Also Southern Community Financial Corp. (Nasdaq:SCMF) is up 20% on very light volume, and Einstein Noah Restaurant Group (Nasdaq:BAGL) is up 18% after its Q4 EPS beat the Street.

On the downside, ICT Group careened 23% after rejecting Aegis’ acquisition offer.

Lending Profits

It is a strange sight to see the Dow Industrials trading at 6,700. That’s still a level from 1997. And it still indicates that people don’t want to own stocks. At this point, it seems to be as much about available capital for investment as a willingness to invest.

Valuations are low, the Dow is trading with a P/E of around 20. But that’s still not as low as it’s been during past recessions.

Still, it might be helpful to add some flavor to the current P/E ratio of the Dow. Consider that Citigroup and Bank of America don’t have earnings. Neither do Ford, GM, Alcoa. It’s safe to say that earnings at JP Morgan, American Express, . . .

Stocks were sharply lower at midday on news this morning that small-cap insurer American International Group Inc. (NYSE:AIG) posted the largest quarterly loss in U.S. corporate history, down $61.7 billion in Q4.

At noon the Russell 2000 (NYSE:IWM) was down 15.25, or nearly 4%, at 373.77, while the S&P 500 was down 3.66% to 708.15, and the Dow was down 3.25% to a staggering 6,833.54 — the first time the index has dipped below 7,000 in 11 years.

Myriad data reports out today showed personal spending rose about 0.6% in January and incomes rose 0.4%, while construction spending fell 3.3%, or more than twice as much as analysts predicted. Even though manufacturing contracted in February for the thirteenth straight month, the pace was slower than expected.

Small caps bucking the downward trend this morning included business service outsourcer ICT Group, Inc. (Nasdaq:ICTG), up nearly 70% after Aegis Limited made an acquisition proposal to ICT’s board. FGX International Holdings Limited (Nasdaq:FGXI) is seeing an 18% uptick following a strong sales and earning release late last week, and Noven Pharmaceuticals is up 10% ahead of its scheduled earnings release on Thursday.

On the downside, Ship Finance International (NYSE:SFL) is down over 23% after reporting a Q4 loss last week.

A Caveman could do it

*****Warren Buffett’s annual report for Berkshire Hathaway was released over the weekend. His letter to his shareholders is one of the most widely read investment documents there is. Buffett’s down home charm, inviting sense of humor and investment savvy are always a great read...

Osiris Therapeutics Inc. (Nasdaq:OSIR), Emergent BioSolutions Inc. (Nasdaq:EBS) and Churchill Ventures (Nasdaq:CHV) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Emergent Biosolutions Inc. (Nasdaq:EBS) is the sole 52-week high on Friday's session.

Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend. Gains for commodity stocks and drugs shares helped offset weakness in financials. Today’s small-cap gainers are Luminex Corporation (Nasdaq:LMNX), Emergent BioSolutions (NYSE:EBS) and World Fuel Services (NYSE:INT).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund was up 2.9% at midday, outperforming the broad market indices.  
• Today holds an afternoon press conference by President-elect Obama, who is huddled with economic leaders in Chicago.  
• Financial shares were limping along today and automakers were in full retreat mode.  
• Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend.  

Small Cap Gainers:

• Luminex Corporation rallied 24% as the genetic analysis firm also received a lift from earnings news. See (Nasdaq:LMNX).  
• Emergent BioSolutions Q3 profit rises; revises FY08 earnings. Shares climb 18%. See (NYSE:EBS).
• World Fuel Services up 18% as Q3 profit soars on higher revenues. See (NYSE:INT). 
• AmeriCredit announces extension of offer to repurchase 1.75% convertible senior notes due 2023. Shares up 15%. See (NYSE:ACF).  
• Mirant 3Q earnings double on hedging gains, shares up 5%. See (NYSE:MIR).  


Small Cap Losers:

• RHI Entertainment Inc. slumped 27% as the made-for-television entertainment company released earnings results. See (RHIE).
• Talbots to sell J. Jill, pulls outlook; stock down over 20%. See (TLB).  
• Syniverse Holdings down 13% today following a downgrade by Robert W. Baird earlier this week. See (SVR).  
• Bio-Rad's Q3 revenues climb 30%, charges related to DiaMed acquisition cut into the firm’s profit for the quarter. Shares slump 11%. See (BIO).  

LandAmerica Financial Group Inc. (Nasdaq:LFG), Fuel Systems Solutions Inc. (Nasdaq:FSYS) and Knot Inc. (Nasdaq:KNOT) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Luminex Corp. (Nasdaq:LMNX), Emergent BioSolutions Inc. (Nasdaq:EBS), National CineMedia Inc. (Nasdaq:NCMI), Genoptix Inc. (Nasdaq:GXDX), LeapFrog Enterprises Inc. (Nasdaq:LF) and Artesian Resources Corp. (Nasdaq:ARTNA).

Here are the biggest percentage gainers among small caps:

Life Partners Holdings Inc. (Nasdaq:LPHI), Emergent BioSolutions Inc. (Nasdaq:EBS) and Unifi Inc. (Nasdaq:UFI) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

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

Emergent BioSolutions Inc. (Nasdaq:EBS) and Unifi Inc. (Nasdaq:UFI) are the 52-week highs among companies with market capitalizations under $1 billion.

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

Questor Pharmaceuticals Inc. (Nasdaq:QCOR) and Emergent BioSolutions Inc.(Nasdaq:EBS) are the new 52 week highs among small caps.

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

Small-cap stocks reversed course Thursday, pulling back into the recent range as the credit crisis moved to the forefront, punishing financial stocks. The selling mood was also stirred by soft economic data and worries about consumer spending after sluggish sales at benchmark retailer Wal-Mart Stores (NYSE:WMT). In the end, the Russell 2000 (NYSE:IWM) shed 12.48, or 1.72%, to 713.42.

Large-cap financial stocks were getting hammered in the afternoon today, extending a gloom that began after Wednesday’s close when insurance giant American International Group (NYSE:AIG) reported hefty quarterly losses amid write-downs of bad mortgage loans. The whole mess with AIG rekindled fears about the credit crunch and investors dumped shares in a wide swath of financial names. AIG tumbled some 18% on the day. The nation’s top bank, Citigroup Inc. (NYSE:C) stumbled amid news that the firm would buy back some $7 billion in auction-rate securities and pay a $100 million civil fine to settle a suit that it misled investors on the risk of the investments. Citigroup lost about 6% on the day. Merrill Lynch & Co. (NYSE:MER) lost 8%, Lehman Bros. Holdings, Inc. (NYSE:LEH) tumbled 13%, JP Morgan Chase Co. (NYSE:JPM) was down 4% and mortgage finance firms Fannie Mae (NSE:FNM) and Freddie Mac (NYSE:FRE) were down 14% and 9%, respectively. The Financial Select SPDR was down 5%--and it’s not as if those declines are limited to the large-cap banks and brokerage houses. There are dozens of small- and mid-cap banks out there, and they have even more trouble accessing credit during the crunch than the big firms.

As you might expect...

Shares of Emergent BioSolutions (NYSE: EBS) plummeted by 27% Thursday morning after the biopharmaceutical company missed Wall Street expectations for its second quarter performance despite swinging to a profit.

For the three months ended June 30, the Rockville, Md.-based company notched net income of $1.8 million, or $0.06 per share, compared with a loss of $5 million, or $0.17 per share. Analysts had expected earnings per share of $0.23.

Emergent said cost of product sales rose by $2.8 million, or 48%, to $8.7 million for the quarter compared to last year.

Shares crumbled 28%, or $3.91, to $10.08 at 1:08 pm. For detailed price information and recent news stories about Emergent BioSolutions, click EBS.

Emergent BioSolutions Inc. (Nasdaq:EBS), Citi Trends Inc. (Nasdaq:CTRN) and 51Job Inc. (Nasdaq:JOBS) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.      

Also included among the results: ExlService Holdings Inc. (Nasdaq:EXLS), Micrus Endovascular Corp. (Nasdaq:MEND), Perficient Inc. (Nasdaq:PRFT), Reddy Ice Holdings Inc. (Nasdaq:FRZ), Overhill Farms Inc. (Nasdaq:OFI) and Key Technology Inc. (Nasdaq:KTEC).       

Here are the biggest percentage losers among small caps:   

Cougar Biotechnology Inc (Nasdaq:CGRB), LHC Group Inc (Nasdaq:LHCG) and National Research Corp (Nasdaq:NRCI) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FPIC Insurance Group Inc (Nasdaq:FPIC), National Presto Industries Inc (Nasdaq:NPK), Peerless Manufacturing Co (Nasdaq:PMFG), Emergent BioSolutions Inc (Nasdaq:EBS), Republic Banc KY Ord Shs (Nasdaq:RBCAA) and Herley Industries Inc (Nasdaq:HRLY).

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

Graham Corp (Nasdaq:GHM), Innophos Holdings Inc (Nasdaq:IPHS) and Luminex Corp (Nasdaq:LMNX) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: LTC Properties (Nasdaq:LTC), Emergent BioSolutions Inc (Nasdaq:EBS), PharMerica Corp (Nasdaq:PMC), Ness Technologies Inc (Nasdaq:NSTC), Met-Pro Corp (Nasdaq:MPR) and iGate Corp (Nasdaq:IGTE).

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

Vital Signs Inc (Nasdaq:VITL), Almost Family Inc (Nasdaq:AFAM) and HireRight Inc (Nasdaq:HIRE) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Citizens & Northern Corp (Nasdaq:CZNC), Axsys Technologies Inc (Nasdaq:AXYS), International Assets Holding Corp (Nasdaq:IAAC), Omega Protein Corp (Nasdaq:OME), Emergent BioSolutions Inc (Nasdaq:EBS) and NATUS MEDICAL INC. (CA) (USA) (Nasdaq:BABY).

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

Biotechnology investments often offer big risks, but huge potential rewards. New drugs, such as ones in development by Emergent BioSolutions (NYSE:EBS) and ChemGenex (Nasdaq:CXSP), can provide multi-billion dollar payoffs once sales commence.

Emergent BioSolutions is a profitable biopharmaceutical company developing immunobiotics for use against infectious diseases. Its lead product, BioThrax, is the only FDA-approved vaccine for preventing anthrax, a potential bioterrorism weapon spread by airborne bacteria. BioThrax sales were $169.8 million in 2007, and Emergent has already supplied over 16 million doses of BioThrax to U.S. government agencies. Last year the company entered into a three-year $448 million deal with the U.S. government to supply an additional 18.75 million doses. About 12 million remain to be delivered on this contract. The cash flow from BioThrax sales is being used to fund the development of new vaccines. Emergent has vaccine candidates for typhoid and hepatitis B in late-stage development, and is working on a post-exposure anthrax therapeutic, along with early stage development vaccine candidates for botulinum, group B streptococcus and Chlamydia.

Emergent’s typhoid vaccine candidate entered Phase II clinical trials this July. Study results are expected by year-end and Phase III trials are likely to commence in 2009. Typhoid poses a major health threat in many developing countries with an estimated 22 million cases occurring each year. Typhoid vaccines exist but require multiple doses to be effective. Emergent has the only single-dose preventative. The company’s hepatitis B vaccine candidate is also in Phase II trials. Hepatitis B infections are a serious global health problem with an estimated 350 million chronically infected cases worldwide. In addition, animal studies are underway of an anthrax immune globulin therapeutic designed for post-exposure use, and human clinical trials are scheduled for 2009. 

In addition to its in-house research, Emergent fills out its product pipeline with late-stage compounds acquired from others. It recently acquired an anthrax post-exposure therapeutic from AVANIR and an anthrax vaccine candidate from VaxGen that has already completed Phase II studies. In addition, Emergent is acquiring FluBlok, a recombinant flu vaccine candidate in Phase III trials and other product candidates from Protein Sciences. FluBlok is the industry’s first recombinant influenza . . .

There are terrorist attacks, and then there’s bioterrorism: deadly spores and killer bacteria. Reaching for the red phone of germ warfare is Emergent BioSolutions, Inc. (Nasdaq:EBS), developer of an immunobiotic arsenal to fight infectious diseases.

No, this is not the world Alfred E. Neuman, gap-toothed cover boy of Mad Magazine, would have envisioned 50 years ago. Yes, it is perfect for EBS, the Rockville, Md.-based company that focuses on making products against category “A” biological agents, those that the Centers for Disease Control say pose the greatest possible threat to public health. In addition to focusing on immunobiotics, EBS seeks to acquire late-stage product candidates, mitigate costs through government funding and third-party support, and fund development through cash flow.

Leading EBS’ biodefense portfolio is BioThrax, the only FDA-approved vaccine for anthrax infection. EBS also has next generation anthrax vaccine product candidates in preclinical and Phase I development, and it’s working on an anthrax immune globulin that treats anthrax disease after toxins have been released into the body — a situation for which there are now no approved treatments. EBS is battling on the fear front of botulism as well: it has products in pre-clinical development for treatment of and vaccines for the botulinum toxin.

The United States government buys virtually all of the BioThrax EBS can make. The company is the sole-source contractor with the U.S. Department of Health and Human Services (HHS) for supply of BioThrax for the Strategic National Stockpile. In September of last year, EBS signed a new three-year BioThrax contract with HHS worth up to $448 million — a contract that helps to solidify the company’s forward revenues.

EBS also sells BioThrax to the Department of Defense (DoD) for immunization of military personnel. Demand from the DoD — which is pursuing a collaborative arrangement with the HHS to use stockpiled doses of BioThrax — is expected to increase due . . .

The Russell 2000 (NYSE: IWM) posted a gain for the first time in 2008 as most of the major U.S. indices ended a turbulent session in positive territory. The small-cap index climbed 2.35 points, or 0.33%, to 723.95. The Dow Jones Industrial Average (INDU) advanced 27.31 points, or 0.21%, to 12,827.49.

On a year-to-date basis, the Russell 2000 has lost 5.49%, while the Dow is down 3.30% and the S&P 500 has retreated 3.55%.

Small-cap stocks went on a rollercoaster ride that ended with a late-session rally that pushed the index into the green. Equities started the day higher, then fell abruptly after about 30 minutes and bounced around for the remainder of trading.

With no major news releases scheduled for today, investors turned their attention to future policy actions aimed at improving the U.S. economy and preventing a recession.

“The housing downturn and credit disruption will weigh on our economy and impose a penalty on our economic growth,” Treasury secretary Henry Paulson said in a speech to the New York Society of Securities Analysts this afternoon. “We will likely have further indications of slower growth in the weeks and months ahead.”

However, Paulson did not mention any new measures the Bush administration is planning to keep the economy moving forward and reiterated his belief that there will be no recession.

“While growth looks to have slowed considerably in the last part of 2007, our economy remains resilient and I expect it to continue to grow,” he said.

Also addressing the economy was President Bush, who called on the U.S. Congress to make some of his income tax cuts permanent and urged the passing of a number of housing-related proposals.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices have recovered from a morning dip and are now posting gains. At 1:58 p.m. ET, the small-cap index was up 4.10 points, or 0.57%, to 725.70. The Dow Jones Industrial Average (INDU) had added 8.29 points, or 0.06%, to 12,808.47.

Small-cap stocks are moving up as speculation of an upcoming interest rate cut encourages investors to snap up equities following Friday’s steep declines. The major U.S. indices were trending higher in the morning, with the exception of a brief fall shortly after 10 a.m. ET.

News of a worse-than-expected jobs report on Friday dropped stocks and heightened speculation that the U.S. Federal Reserve will cut interest rates to prevent the economy from slipping into recession. The Fed is scheduled to begin a two-day meeting on Jan. 29.

Economists generally agree that U.S. economic growth was slow in the fourth quarter of 2007, dragged down by the stagnating U.S. housing sector and tighter lending.

Observers will be listening to a speech by the U.S. Treasury secretary at 2 p.m. ET about measures the Bush administration plans on taking to give the economy a boost.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are falling despite initial speculation of an interest rate cut.
 
At 10:53 a.m. ET, the small-cap index was down 3.06 points, or 0.42%, to 718.54. The Dow Jones Industrial Average (INDU) had lost 24.31 points, or 0.19%, to 12,775.87.

Stocks began the day on a bullish note as investors speculated that the U.S. Federal Reserve will cut interest rates to prevent the economy from slipping into recession. The Fed is scheduled to kick-off a two-day meeting on Jan. 29. At its previous meeting on Dec. 11, it lowered the federal funds rate to 4.25% from 4.50%.

The federal funds rate is the rate at which commercial banks make overnight loans to each other.

But the sentiment did not last long, and shortly after 10 a.m. ET, equities were in negative territory.

Corgi International Ltd. (Nasdaq: CRGI), Verticalnet, Inc. (Nasdaq: VERT) and China BAK Battery Inc. (Nasdaq: CBAK) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Shares of Emergent BioSolutions Inc. (NYSE: EBS) shot up out of the gate this morning after the biopharmaceutical company reported this morning that it has signed a three year contract with the U.S. Department of Health and Human Services for $448 million.

Included under the terms of the contract, Emergent will provide 18.75 million doses of BioThrax (Anthrax Vaccine Adsorbed) for the strategic national stockpile, receive regulatory approval for four-year expiry dating for BioThrax and will receive $11.5 million in milestone payments for the advancement toward a post-exposure prophylaxis indication for BioThrax.

As a result of the contract, Emergent is reaffirming its revenue expectation for the full year of 10% to 15% total revenue growth, with a bias toward the upper end of the range and full year positive net earnings.

Emergent said it expects to begin making deliveries for approximately six million doses by year’s end.

BioThrax is the only FDA-approved vaccine for the prevention of anthrax infection.

Shares of Emergent (EBS) shot up $1.43, or 18.36%, to $9.22 out of the gate.

Chemical company ShengdaTech Inc. (Nasdaq: SDTH) said it expects net income of about $23 million in fiscal year 2007. The guidance is 31% higher than the China-based company’s $17.5 million net income in 2006.

Yadkin Valley Financial Corp. (Nasdaq: YAVY) announced it is buying Cardinal State Bank (Nasdaq: CSNC) for about $41.8 million, or $17.62 per share, in cash. Yadkin expects to complete the deal in the fourth quarter of 2007.

Silverleaf Resorts, Inc. (Nasdaq: SVLF) raised its full-year profit guidance, citing boosted Vacation Interval sales and interest income.

Australian investment firm Babcock & Brown Ltd. (ASX: BNB) announced it is buying laundry services business Coinmach Service Corp. (AMEX: DRA) for $713 million.

Hawkins, Inc. (Nasdaq: HWKN) reported a profit of $1.8 million, or $0.18 per share, for the fourth quarter ended April 1, compared with a $1.3 million profit, or $0.13 per share, a year earlier.

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