Tag - Enzn

Fuqi International Inc. (Nasdaq:FUQI), Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) and Nektar Therapeutics (Nasdaq:NKTR) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Century Aluminum Co. (Nasdaq:CENX), Smithtown Bancorp Inc. (Nasdaq:SMTB), Middleby Corp. (Nasdaq:MIDD), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Geron Corp. (Nasdaq:GERN) and Enzon Pharmaceuticals Inc. (Nasdaq:ENZN).

Small-cap stocks jumped higher on the opening, a welcome sign after the Russell 2000 (NYSE:IWM) suffered the largest one-day loss of the year on Monday. Buying interest was stirred by optimism for a bail-out of beleaguered U.S. automakers, anticipation for another round of global rate cuts and just a plain old oversold bounce after Mondays’s rout. Some of today’s small-cap gainers are Medicis Pharmaceutical Corp. (NYSE:MRX), Wright Express Corp. (NYSE:WXS) and Clinical Data Inc.  (Nasdaq:CLDA).

Other Market Watch highlights today included:

• New data out: retail sales down 0.4% on a year-over-year basis for the week, down 0.9% in Nov. from last year, while off 1.1% from Oct.  
• On the open, crude oil prices were up about $0.40 a barrel, and energy stocks were up about 2.4%.  
• Commodity markets stabilized this morning, which was a big relief after crude oil collapsed 9% Monday.  
• The Reserve Bank of Australia slashed 100 basis points off their benchmark rate last night, which was much more aggressive than expected.
• Investors were hopeful for another round of global rate cuts to stimulate the world out of recession.

Small Cap Gainers:

• Medicis Pharmaceutical Corp. gapped higher and was up about 17% as the skin treatment firm resolved a patent dispute to license a generic version of it’s acne drug. See (NYSE:MRX).  
• Wright Express Corp. rose 13% as the payment processing firm basically recovered Monday’s big slide. See (NYSE:WXS).
• Clinical Data Inc. rose 11% as the biotech company bounce off Monday’s severe decline amid a dearth of fresh news. See (Nasdaq:CLDA).
• America's Car-Mart Q2 earnings rise; shares climb 6.3% in pre-market. See (Nasdaq:CRMT).


Small Cap Losers:

• Palm Inc. tumbled 34% as the smart phone maker lowered quarterly projections. See (Nasdaq:PALM).
• Enzon scraps spinoff of biotech division; shares tumble 16% in pre-market. See (Nasdaq:ENZN).
• Solarfun Power swings to Q3 loss; shares drop nearly 13% in pre-market. See (Nasdaq:SOLF).  
• Skyworks Solutions Inc. gapped lower and slumped 13% after the analog semiconductor firm lowered guidance. See (Nasdaq:SWKS).  

Small-cap stocks took a tumble Wednesday, rattled by another record high in crude oil prices which could stunt an already tenuous economic recovery in the U.S by crimping consumer spending and raising costs for businesses. The Russell 2000 (NYSE:IWM) lost 13.57, or 1.86%, closing at 716.21.

The relentless advance in crude oil prices saw the market shoot up to $123 dollars a barrel Wednesday, stoked by ongoing jitters about supply out of Africa and geopolitical tensions in the Middle East. In addition, tight diesel stocks on the weekly Energy Information Administration report fueled additional buying in the energy arena. With national pump prices around $3.50 a gallon and the summer driving season peak still ahead of us, consumers likely will be in a dour mood about the prospect of even higher prices on the horizon.

Equities got an early boost this morning into the opening when the productivity report came in above expectations, up 2.2% versus the forecast for a gain of 1.6%. The market has seen a run of recent economic numbers that have topped the projection, but with equities knocking on the door of four-month highs, it didn’t appear to be enough good news to sustain the run.

In addition, the U.S. dollar shot higher against the euro, which has been a supportive element for equities lately — on the rare instances when the greenback mounts a rise against the euro.

However, some traders saw the dollar’s gain as being more indicative . . .

This week, we examine biotechnology expert Marc Lichtenfeld’s investing strategy as well as his recent pick of Enzon Pharmaceuticals, Inc. (Nasdaq:ENZN), a stock that not only ranks among his small-cap favorites, but one that has caught the attention of noted activist investor Carl Icahn.

Lichtenfeld is a senior analyst for the Xcelerated Profits Report and Smart Profits Report. He was a professional trader previously as well as a columnist at TheStreet.com.

Regarding his investment approach, Lichtenfeld says, “When it comes to health-care stocks — particularly the smaller-cap names — nothing replaces the roll-up your sleeves, work-till-your-eyes-are-blurry research.”

The analyst has developed a proprietary process called the F.I.R.S.T. system, which is a five-step method he uses use to narrow his watch list of potential buys. Let’s review each of the five components:

Financials:

He begins with examining a company’s financials. “In the health-care sector, it’s important to understand whether a firm has enough capital to continue its research and development, market and commercialize a product, or simply to continue everyday operations,” he says. Only after he is comfortable that there is a “growing and robust business,” will he move on to the next phases.

Interview:

Lichtenfeld emphasizes the important of learning about the people behind the business. As such, he takes the time to interview top company executives, institutional shareholders, vendors, production workers, even the short sellers. Indeed, he says, he will seek information . . .

The Russell 2000 (NYSE:IWM) is holding on to its gains after a brief decline.

At 11:23 a.m. ET, the small-cap index had added 2.32 points, or 0.34%, to 685.50. The Dow Jones Industrial Average was up 15.47 points, or 0.13%, to 12,231.87.

Small-cap stocks are posting modest gains as investors digest the latest economic news and make sense of the Bush administration’s plan to overhaul financial regulation.

The National Association of Purchasing Management-Chicago reported after the start of trading that its purchasing managers’ index rose to a level of 48.2 in March from 44.5 in February. The increase is more than economists were expecting but still shows a contraction.

Production, employment and new orders increased, easing concerns of a decline in business investment.

The Russell 2000 fell as soon as the numbers were announced, slipping below the flat line at about 10:30 a.m. ET before rebounding.

Investors are also analyzing the Bush administration’s plan to reform financial regulation. The proposal, outlined by U.S. Treasury Secretary Henry Paulson after the opening, would give the U.S. Federal Reserve increased power over large non-bank financial firms and set minimum licensing standards for . . .

April 20 (SmallCapInvestor.com) – U.S. stocks are posting strong gains in response to better-than-expected financial results by Google Inc. and news of strong earnings elsewhere.  In small cap action, shares of Bridgewater, N.J.-based Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) are rising on news the U.S. Food and Drug Administration has granted full approval for its lymphomatous meningitis drug DepoCyt.

Shares of EpiCept Corporation (Nasdaq: EPCT) are gaining on news this morning that the pharmaceutical company’s drug Azixa for the treatment of primary and secondary brain tumors was shown to be effective in clinical studies.  Shares have moved up $0.11, or 5.07%, to $2.28.

Shares of Austin, Texas-based Introgen Therapeutics, Inc. (Nasdaq: INGN) are moving up on news of positive results from an early-stage study of its lung cancer drug.  A Phase I clinical trial of the drug candidate FUS1 showed it has no side effects and prolongs survival time, Introgen said after Tuesday’s close.  Shares have gained $0.28, or 5.74%, to $5.16.