Tag - Geoi

Novavax Inc. (Nasdaq:NVAX), ADC Telecommunications Inc. (Nasdaq:ADCT) and Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sequenom Inc. (Nasdaq:SQNM), ImmunoGen Inc. (Nasdaq:IMGN), Ticketmaster Entertainment Inc. (Nasdaq:TKTM), GeoResources Inc. (Nasdaq:GEOI), Zion Oild and Gas Inc. (Nasdaq:ZN) and Biocryst Pharmaceuticals Inc. (Nasdaq:BCRX).

DryShips Inc. (Nasdaq:DRYS), Canadian Solar Inc. (Nasdaq:CSIQ) and Energy Conversion Devices Inc. (Nasdaq:ENER) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Manhattan Associates, Inc. (Nasdaq:GEOI), Volcom Inc. (Nasdaq:VLCM), SVB Financial Group (Nasdaq:SIVB), Copano Energy LLC (Nasdaq:CPNO) and DrdGold ADR (Nasdaq:DROOY).

DryShips Inc. (Nasdaq:DRYS), ADC Telecommunications Inc. (Nasdaq:ADCT) and GeoResources Inc. (Nasdaq:GEOI) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Eagle Bulk Shipping Inc. (Nasdaq:EGLE), TBS International Ltd. (Nasdaq:TBSI), ASM International NV (Nasdaq:ASMI), Tech Data Corp. (Nasdaq:TECD), Dime Community Bancshares Inc. (Nasdaq:DCOM) and TASER International Inc. (Nasdaq:TASR).

Taleo Corp. (Nasdaq:TLEO), ATA Inc. (Nasdaq:ATAI) and Ticketmaster Entertainment Inc. (Nasdaq:TKTM) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Intersections Inc. (Nasdaq:INTX), GeoResources Inc. (Nasdaq:GEOI), Universal Stainless & Alloy Products Inc. (Nasdaq:USAP), James River Coal Co. (Nasdaq:JRCC), Macquarie Infrastructure Co LLC (Nasdaq:MIC) and OM Group Inc. (Nasdaq:OMG).

Salix Pharm (Nasdaq:SLXP), Fundtech Ltd. (Nasdaq:FNDT) and Crocs Inc. (Nasdaq:CROX) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.        

Also included among the results: China Sunergy Co Ltd. (Nasdaq:CSUN), Dyax Corp. (Nasdaq:DYAX), TeleCommunication Systems Inc. (Nasdaq:TSYS), Cogo Group Inc. (Nasdaq:COGO), GeoResources Inc. (Nasdaq:GEOI) and ArcSight Inc. (Nasdaq:ARST).  

Here are the most actively traded companies among small caps:  

It’s not always easy to figure out which horses to back in the exploration and production sector as oil and gas prices remain at high levels. Analysts are trying hard to keep up with the wide array of companies, but have trouble covering all promising prospects.

One company that’s pulling ahead of the pack is GeoResources, Inc. (Nasdaq:GEOI). The small cap, which has properties in Wyoming, North Dakota, along the Gulf of Mexico and has targeted Oklahoma for expansion, was No. 31 on Fortune Small Business’s list of the 100 fastest-growing small companies last month.

It has other fans waiting in the stands. In June, GeoResources once again tapped into General Electric Co.’s (NYSE:GE) deep pockets when it partnered with GE Energy Financial Services to spend up to $90.5 million to acquire and develop new properties in Oklahoma. GeoResources and its predecessor companies have partnered with the GE unit twice before.

C.K. Cooper initiated coverage in February and subsequently upgraded its rating on July 1 to a “buy” earlier this month after the GE deal and a new operating report from the company. Analyst Joel Musante raised his NAV range for the firm to $20.91 to $23.12 per share, from $18.39 to $21.11, and raised the target price to $22 from $20.

In the Oklahoma deal, GeoResources functions as general partner with the GE unit and will boost its share of the income from the properties to 35% from an initial 2%, once capital costs are covered and certain hurdles reached. (GeoResources also directly acquired 18% of the Oklahoma properties.)

Commenting on the structure of the Oklahoma deal, Musante said, “This type of structure has been beneficial to GEOI in the past.” In one of the earlier deals with GE, GeoResources is the general partner where the two companies are developing Austin Chalk drilling opportunities in the Giddings Field in central Texas. Musante estimates the value of GeoResources’ general partnership interest in that venture . . .

Cardiome Pharma Corp (Nasdaq:CRME), Canadian Solar Inc (Nasdaq:CSIQ) and Solarfun Power Holdings Co Ltd (Nasdaq:SOLF) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Evergreen Solar Inc (Nasdaq:ESLR), Ares Capital Corp (Nasdaq:ARCC), A Power Energy Generation Systems Ltd (Nasdaq:APWR), Crocs Inc (Nasdaq:CROX), China Sunergy Co Ltd (Nasdaq:CSUN) and GeoResources Inc (Nasdaq:GEOI).

Here are the most actively traded companies among small caps:

Small-cap stocks reversed course Friday, erasing much of the steep gains from Thursday as monthly employment data served up a shocking rise in the jobless rate and crude oil prices exploded to new record highs. The Russell 2000 (NYSE:IWM) shed 22.90, or 3%, to 740.37, ending a volatile week in dizzying fashion. The abrupt decline Friday registered the largest one-day percentage loss since March 6, and marked just the fourth time this year that small caps tumbled 3% in one day.

One could argue that today’s morning setup brewed up a “perfect storm” for stock market declines. Equities came into the session ripe for a bad news surprise following an overdone rally Thursday, and when the unemployment rate shockingly rose to 3½-year highs, it triggered a rout on the U.S. dollar, which in turn fueled a dramatic surge in crude oil prices.

“I think today’s decline was a combination of negative factors: we took out the short base during Thursday’s rally, the jump in oil is negative for the economy via poor growth and inflation, there are rumors of Israel attacking Iran and the labor market is weak,” said Nick Kalivas, vice president of financial research with MF Global, in an email interview with SmallCapInvestor.com.

Today’s monthly employment report showed a baffling jump in unemployment to 5.5%, way beyond the median forecast for a mild rise to 5.1% from 5% the previous month. In fact, the last time the unemployment rate jumped 0.5% in one month took place 22 years ago. Data spin doctors explained away the rise as a sudden surge in college and high school students out looking for summer jobs, or as the number series simply “catching up” with the weak job picture. While the summer job explanation plays well, it’s worth noting that this data is seasonally adjusted, and it’s not as if we’ve never had college kids looking for work in May before. However, some economists cautioned that collection time-frame quirks this go around may have moved a bunch of the summer job crowd up into the May report from June. If so, then a dip in the jobless rate should be seen in next month’s employment data.

“The labor market is under severe stress, firms have stopped expanding payrolls, (there is) no ambiguity here,” Asha Bangalore, economist with Northern Trust, said in an email.  “The National Bureau of Economic Research could take several more months to declare an official onset of a recession, but there is no doubt the U.S. economy is experiencing one. The Fed will not raise the federal funds rate until the unemployment rate falls, [but] the unemployment rate has not even peaked yet, so considerations of a higher federal funds rate by year-end appear far-fetched,” Bangalore . . .

Gentium SpA (Nasdaq:GENT), WGNB Corp (Nasdaq:WGNB) and GeoResources Inc (Nasdaq:GEOI) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

HEICO Corp (Nasdaq:HEI), Chemgenex Pharm Ltd  (Nasdaq:CXSP) and Calamos Asset Management Inc (Nasdaq:CLMS) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

After opening sharply lower, small-cap stocks are continuing to get pummeled mid-session by the worst jobs data this economic cycle has seen yet, rekindling concerns about the state of the U.S. economy. Crude oil gushed back to near record highs, also dragging the market lower.

At 1:18 p.m. ET, the Russell 2000 (NYSE:IWM) had plummeted 15.5, or 2.03%, to 747.77, while the Dow plunged 298.65, or 2.37%, to 12,305.80

Wall Street got a reality check this morning after the Labor Department reported that the unemployment rate jumped a shocking 0.5% to 5.5% in the month of May, the highest since October 2004 and the largest month-to-month increase since February 1986. Economists had forecast a much lower uptick in the unemployment rate to 5.1% from 5%. Non-farm payrolls clocked in at minus 49,000, which was better than the forecast for a slide of 58,000.

“In the post World War II period, every time the unemployment rate has jumped by a full percentage point in the course of a year, the economy has slipped into recession,” Steven Wood, chief economist with Insight Economics, said in an email report. “The bottom line is that jobs declined in May and the economy has clearly slipped into a mild jobs recession because the housing meltdown and credit market turmoil has spread to the broader economy. Persistent job losses will eventually pull the overall economy into recession.” 

BMO Capital Markets foreign exchange strategist Andy Busch says the question is whether the survey week of May 12th captured skewed data or if the seasonal adjustment was somehow unable to correct for a surge, which accounted for two-thirds of the increase in the move from 5.1% to 5.5%.

“This month underscores that volatility and disconnect with a massive increase in job seekers as the labor force rose 577,000 and the participation rate rose to 66.2% from 66%,” Busch said in an email. “Without it, we see employment at only 5.2%. Also, the data toward the end of the month is showing that the economy is not . . .

Small-cap stocks opened lower, pulled down by a surprising jump in the unemployment rate, which climbed to 5.5%, the highest rate in 3 ½ years. At 9:53 a.m. ET, the Russell 2000 (NYSE:IWM) was down 7.37, or 0.97%, at 755.90.

The headline non-farm payroll figure came in at minus 49,000, which was better than the forecast for a slide of 58,000, but the payroll figure was upstaged by the stunning jobless rate number. Economists had forecast a rise in the unemployment rate to 5.1% from 5%, and a jump of 0.5% is extraordinarily rare. In fact, this marked the biggest monthly jump in the unemployment rate in 22 years.

“The unemployment rate soared in May because of huge surge in the labor force, perhaps because of seasonal adjustment difficulties associated with the ending of the school year,” Steven Wood, chief economist with Insight Economics, said in an email report. “However, this big increase may also have been a catch-up from its slow rise in the past few months. In any event, the number of unemployed has increased by 1.6 million to 8.5 million and the unemployment rate has increased by 1 percentage point to 5.5%. In the post World War II period, every time the unemployment rate has jumped by a full percentage point in the course of a year, the economy has slipped into recession.”

Even the headline figure, which might have been embraced by equity bulls if not for the unemployment rate surge, wasn’t exactly a sign of great things. According to Wood, “The bottom line is that jobs declined in May and the economy has clearly slipped into a mild jobs recession because the housing meltdown and credit market turmoil has spread to the broader economy. Persistent job losses will eventually pull the overall economy into recession.”

This was the kind of head-scratching, out-of-leftfield numbers surprise that can hatch an entire cottage industry of data conspiracy theorists. For now, traders and analysts tilted toward the bullish side of things were explaining away the sudden jump . . .

Oil and gas company GeoResources, Inc. (Nasdaq: GEOI) said this morning that it will sell 1.53 million shares of common stock in a private placement for $22.50 per share for gross proceeds of $34.5 million, pushing shares lower in pre-market trading. 

The company said it will use proceeds from the transaction will be used to repay indebtedness and to fund exploration and development, acquisitions, hedging activities and general corporate purposes.

Shares slipped 11.4%, or $3.21, to $24.99 in pre-market trading. For detailed price information and recent news stories about GeoResources, click GEOI.

ATA Inc (Nasdaq:ATAI), GeoResources Inc (Nasdaq:GEOI) and Pyramid Oil Co (Nasdaq:PDO) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $750 million.

Sutor Technology Group Ltd (Nasdaq:SUTR), America's Car-Mart Inc (Nasdaq:CRMT) and RAM Energy Resources Inc (Nasdaq:RAME) are also among the new 52-week highs.

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

GeoResources Inc (Nasdaq:GEOI), STEC Inc (Nasdaq:STEC) and Peerless Manufacturing Co (Nasdaq:PMFG) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $750 million.

Sun Hydraulics Corp (Nasdaq:SNHY), CP Holders (Nasdaq:HCH) and Transact Technologies Inc (Nasdaq:TACT) are also among the new 52-week highs.

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

GeoResources Inc. (Nasdaq:GEOI), Metalico Inc. (Nasdaq:MEA) and Shore Financial Corp. (Nasdaq:SHBK) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $750 million.

US Physical Therapy Inc. (Nasdaq:USPH), Louisiana Bancorp Inc. (Nasdaq:LABC) and GHL Acquisition Corp. (Nasdaq:GHQ) are also among the new 52-week highs.

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

GeoResources Inc (Nasdaq:GEOI), Callon Petroleum Co (NYSE:CPE) and Powell Industries Inc (NYSE:POWL) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $750 million.

Metallica Resources Inc (Nasdaq:MRB), Encore Energy Partners LP (AMEX:ENP) and Innophos Holdings Inc (NYSE:IPHS) are also among the new 52-week highs.

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

After declining in morning trading, small-cap stocks began a rally around 10 a.m. ET, surging to more than 729. Better-than-expected earnings from several small-cap companies helped to act as a catalyst for the market rally. At 1:24 p.m. ET, the Russell 2000 (NYSE:IWM) was up 5.60, or 0.77%, at 729.95.

Despite the rally, several bearish indicators gave investors pause early in the session. Federal Reserve Chairman Ben Bernanke said late Monday that increasing home foreclosures might harm the economy. Adding to investors’ concerns was mortgage firm Fannie Mae’s (NYSE:FNM) reported a $2.2 billion loss on credit-associated costs, which enabled the company to post a wider-than-expected quarterly loss of $2.5 billion. Swiss banking giant UBS AG (NYSE:UBS) reported early Tuesday that it will cut 5,500 employees and sell $15 billion in risky debt to BlackRock, Inc. (NYSE:BLK) at 25% off its face value.

Among sectors, the big losers include airlines, water utilities, fabricated plastic and rubber materials producers and personal services firms. On the flip side, companies associated with oil and gas operations, coal, motion picture services, gold and silver were gaining ground.

Some of the firms that have broken out in Tuesday’s trading include China Finance Online Co. (Nasdaq:JRJC), which broke through $23 resistance and is now up about 9% at $23.94. After experiencing a sell-off at $56.75, vacuum and . . .

Hawaiian Holdings, Inc. (AMEX:HA), GeoResources, Inc. (Nasdaq:GEOI) and Metallica Resources Inc. (AMEX:MRB) were among the new 52-week highs established during Thursday's trading among companies with market capitalizations or values under $750 million. 

AVANT Immunotherapeutics, Inc. (Nasdaq:AVAND), Alyst Acquisition Corp. (AMEX:AYA) and K-Tron International, Inc. (Nasdaq:KTII) were also among the 52-week small-cap highs.

Here are today's 52-week small-cap highs:

GeoResources, Inc. (Nasdaq:GEOI), Olympic Steel, Inc. (Nasdaq:ZEUS) and Univest Corp. (Nasdaq:UVSP) were among the new 52-week highs established during Wednesday's trading among companies with market capitalizations or values under $750 million. 

AVANT Immunotherapeutics, Inc. (Nasdaq:AVAND), Metallica Resources Inc. (AMEX:MRB) and City Holding Co. (Nasdaq:CHCO) were also among the 52-week small-cap highs.

Here are today's 52-week small-cap highs:

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

Stocks small and large are set for a bearish opening following news after the close on Monday that chip maker Intel Corp. (Nasdaq: INTC) lowered its first-quarter gross margin forecast to 54% from 56% earlier. The Santa Clara, Calif.-based company blamed lower than expected prices for some flash memory chips.

The Russell 2000 closed down 1.96, or 0.29% at 684.22. Although the price action was primarily bearish in nature, the market generated a nice afternoon recovery off important chart support and has the potential to kick-start higher Tuesday if immediate support holds up along the 680-683 area. Below there, small caps need to hold 675 or risk a sudden freefall back down to the 650 low. On the upside, resistance comes in Tuesday at 694, 701 and 712.

There are no economic reports to whipsaw the market Tuesday, but there are several Federal Reserve speakers on tap, including Chairman Bernanke. It’s always wise to be cautious whenever the chairman speaks, but his topic is expected to be about foreclosures, so it might not be all that market-moving in nature. In addition, traders might be preoccupied watching coverage of the voting in the Ohio and Texas primaries.

These are the biggest percentage losers among companies with market capitalizations under $500 million: