Tag - Forty

Stocks are seesawing this afternoon about housing construction data tumbled to a record low.

At 2:57 pm ET, the Russell 2000 (NYSE:IWM) is up 0.63%, while the Dow is up 0.27% and the S&P 500 is up 0.63%.

The Commerce Department reported this morning that the construction of homes and apartments fell 12.8% last month to the lowest pace on records dating back a half-century. Analysts were expecting a rise.

Small-cap semiconductor company Kulicke and Soffa Industries Inc. (Nasdaq:KLIC) is up 28% this afternoon after it increased its revenue outlook for the third fiscal quarter. Formula Systems (Nasdaq:FORTY) has climbed 23% after reporting a rise in Q1 profit, and Lifeway Foods Inc. (Nasdaq:LWAY) is 20% after reporting record first-quarter 2009 revenues and earnings.

*****Stocks are down this morning after a “surprise” drop in new housing starts and a fall in new building permit applications. This shouldn’t really be a surprise. After all, we are in a recovering economy, and that means progress will come in fits and starts. And since housing was the underlying cause of the last run-up and a major contributor to the market slide, there should be no question that we’ll see “surprises” like this going forward.

Recall that we’ve seen some upside surprises from the housing market in recent weeks. Yesterday’s big move was attributed, in part, to an improvement in a homebuilders confidence survey. A little bad news to balance out the good should be expected.

Still, the data from April represents a new all-time low for housing starts on an annualized basis. Year over year, housing starts are down 54%, and the housing market was already headed down then.

If there is a bright side, it’s in the understanding that economic sectors, like the stock market, have to bottom out before they can improve. We could be seeing the housing market bottoming out now.

Bell-weather homebuilder Toll Brothers (NYSE:TOL) reports tomorrow. Toll Brothers is a major player in new home construction so look to them as a bellwether . . .

Formula Systems Depository Receipt (Nasdaq:FORTY), Saks Inc. (Nasdaq:SKS) and Mercantile Bancorp Inc. (Nasdaq:MBR) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Safe Bulkers Inc. (Nasdaq:SB), CardioNet Inc. (Nasdaq:BEAT), Lifeway Foods Inc. (Nasdaq:LWAY), Fuqi International Inc. (Nasdaq:FUQI), W Holding Co Inc. (Nasdaq:WHI) and eLoyalty Corp. (Nasdaq:ELOY).

DryShips Inc. (Nasdaq:DRYS), Palm Inc. (Nasdaq:PALM) and Formula Systems Depository Receipt (Nasdaq:FORTY) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Questcor Pharmaceuticals Inc. (Nasdaq:QCOR), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), AEP Industries Inc. (Nasdaq:AEPI), James River Coal Co. (Nasdaq:JRCC), Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN) and Paragon Shipping Inc. (Nasdaq:PRGN).

Formula Systems Depository Receipt (Nasdaq:FORTY), Great Atlantic & Pacific Tea Co Inc. (Nasdaq:GAP) and Cepheid (Nasdaq:CPHD) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Prestige Brands Holdings Inc. (Nasdaq:PBH), DemandTec Inc. (Nasdaq:DMAN), Crawford (Nasdaq:CRD.B), American Greetings Corp. (Nasdaq:AM), PAM Transportation Services Inc (Nasdaq:PTSI) and Ark Restaurants Corp. (Nasdaq:ARKR).

Maxwell Technologies Inc. (Nasdaq:MXWL), Genco Shipping & Trading Ltd. (Nasdaq:GNK) and DryShips Inc. (Nasdaq:DRYS) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: National CineMedia Inc. (Nasdaq:NCMI), Formula Systems Depository Receipt (Nasdaq:FORTY), WHX Corp. (Nasdaq:WXCO), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), InterOil Corp. (Nasdaq:IOC) and Jones Apparel Group Inc. (Nasdaq:JNY).

WellCare Health Plans Inc. (Nasdaq:WCG), Fundtech Ltd. (Nasdaq:FNDT) and Retalix Ltd. (Nasdaq:RTLX) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hiland Partners LP (Nasdaq:HLND), Elbit Imaging Ltd. (Nasdaq:EMITF), Thermadyne Holdings Corp. (Nasdaq:THMD), Formula Systems Depository Receipt (Nasdaq:FORTY), Hadera Paper Ltd. (Nasdaq:AIP) and PHI Inc. (Nasdaq:PHIIK).

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

Columbia Bancorp (Nasdaq:CBBO), ARYx Therapeutics Inc. (Nasdaq:ARYX) and Transmeta Corp. (Nasdaq:TMTA) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Silicon Graphics Inc. (Nasdaq:SGIC), Thomas Weisel Partners Group Inc. (Nasdaq:TWPG), BancTrust Financial Group Inc. (Nasdaq:BTFG), Guaranty Bancorp Ord. (Nasdaq:GBNK), Formula Systems Depository Receipt (Nasdaq:FORTY) and Cypress Bioscience Inc. (Nasdaq:CYPB).

Here are the biggest percentage gainers among small caps:

Laboratory products maker Kewaunee Scientific Corp. (Nasdaq: KEQU) reported a profit of $0.51 million, or $0.21 per share, for the fourth quarter ended April 30, compared with a loss of $0.25 million, or $0.11 per share, in the same period ended of 2006

A group of investors – including the firm HBK Investments LP - reported a 9.5% ownership in The Steak n Shake Co. (NYSE: SNS) in an SEC document filed after Monday’s closing bell.

Hoku Scientific, Inc. (Nasdaq: HOKU) shares are up more than 133.5% since June 13. The reason for the rise is unclear, but a Cowen and Co. analyst believes institutional investors are buying shares after the company’s market capitalization broke $100 million following last Wednesday’s announcement of a seven-year deal with the German solar panel maker Solar-Fabrik AG.

American Software, Inc. (Nasdaq: AMSWA) reported revenue of $22.5 million, or $0.11 per share, for the fourth quarter ended April 30, compared with revenue of $20.46 million, or $0.05 per share, in the same quarter a year earlier.

Identification technology company Intelli-Check, Inc. (AMEX: IDN) executives tried to assuage investors concerned for the company’s wellbeing after its 73-year-old CEO Frank Mandelbaum passed away on June 7. In a press release, Intelli-Check said the management transition since Mandelbaum’s death has been “orderly and the company is positioned to pursue its growth strategy.”

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

The Russell 2000 index is in the red this morning following news that the U.S. central bank remains preoccupied with inflation. At 11:35 a.m. ET the Russell 2000 was down 2.84 points, or 0.34%, to 832.47. The Dow Jones Industrial Average was down 8.62 points, or 0.06%, to 13,415.77.

Shares of Israeli information solutions provider Sapiens International Corp. (Nasdaq: SPNS) are higher following news of a $20 million private placement round led by institutional investors Formula Systems Ltd. (Nasdaq: FORTY), Sapiens’ parent company. “One of our missions for this year was to ensure that all our subsidiaries have the adequate financial resources to support accelerated growth,” Formula President and CEO Gad Goldstein said on Sunday, June 10. Shares are up $0.08, or 3%, to $2.77.