Tag - Giii

Wind River Systems Inc. (Nasdaq:WIND), Cowen Group Inc (Nasdaq:COWN) and Rogers Corp. (Nasdaq:ROG) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Conn's Inc. (Nasdaq:CONN), Dyncorp International Inc. (Nasdaq:DCP), G-III Apparel Group Ltd. (Nasdaq:GIII), US Global Investors Inc (Nasdaq:GROW), Greene County Bancorp. (Nasdaq:GCBC) and Bio-Reference Laboratories Inc. (Nasdaq:BRLI).

The market tried to stand tall through another batch of dreary economic data, but came up empty in the afternoon, with the Russell 2000 (NYSE:IWM) closing down 1.53%. Some of today’s small-cap gainers are G III Apparel Group (Nasdaq:GIII), Emeritus Corporation (NYSE:ESC) and BioSpecifics Technologies (Nasdaq:BSTC).

Other Market Watch highlights today included:

• The weekly claims report came in at 554,000, which was down from 575,000 last week, but basically in line with market expectations.
• The four-week moving average on claims rose to 543,750, which is the highest point since December 1982.
• The Philly Fed report came in at 39.3, which was up from last month’s reading, but still slightly below the consensus forecast.
• The overall employment picture in the U.S. is expected to get worse over the next couple of months.
• This morning, analysts at UBS lowered their forecast for 2009 profit estimates for the S&P 500. 
• Financial shares were on the mend today, and there were plenty of small banks near the top of the percentage movers list.
• Crude oil prices tumbled 9%, or $3.84 a barrel today, slipping to fresh four-year lows during the session
• Energy stocks paced the market’s afternoon slide, losing some 5%.

Small Cap Gainers:

• G III Apparel Group Ltd. (Nasdaq:GIII) closed 26% higher as the outerwear and sportswear manufacturer shot above the 20-day moving average for the first time since late October on solid volume.
• Emeritus Corporation (NYSE:ESC) rose 22% as the assisted-living . . .

Small-cap stocks finished off an up and down session with a jolting afternoon decline, as pressure from tumbling commodity stocks, weak profit reports and money flow away from equities toward credit instruments offset support from airlines and insurance companies. The Russell 2000 (NYSE:IWM) closed down 7.42, or 1.53% at 479.17 and is now down 37% for the year. Meanwhile, the Dow is off 35% for 2008, and the S&P 500 down 40%.

The market tried to stand tall through another batch of dreary economic data, but came up empty in the afternoon. The weekly unemployment claims report showed that 554,000 Americans filed for unemployment insurance last week, which might have been a drop from last week’s 26-year high, but was still a gloomy number in its own right. The four-week moving average for claims rose to 543,750, which itself ranks as the highest level in more than a quarter of a century. Data on mid-east manufacturing and leading economic indicators was predictably sour, but not a surprise.

Speaking of the economy, Federal Reserve Bank of Dallas President Richard Fisher said that the Fed “will not shy from pursuing every practicable means of supporting the functioning of financial markets and stimulating the economy back to a steady state by employing new techniques that fit the current circumstances.” What that means is that the Fed isn’t necessarily out of bullets just because interest rates are now effectively zero. Fisher said that the Fed would expand purchases of mortgage backed securities if that seems like a productive path. He also predicted that GDP would shrink 4% to 5% in the fourth quarter and that contraction was possible through the first half of 2009, with unemployment possibly rising beyond 8%. Fisher said that recent moves are starting to gain traction in credit markets but intimated that operations are still far from normal.

The yield on benchmark 10-year notes approached 2% today, reaching the lowest point in 50 years as investors continue to gobble up credit products as a safe-haven in a difficult environment for stocks. The 10-year yield (which moves inverse . . .

Small-cap stocks edged modestly higher into midday, with support from financial, insurance, airline and homebuilder stocks countered by sinking energy and commodity shares.  Some of today’s small-cap gainers are BioSpecifics Technologies Corp. (Nasdaq:BSTC), G III Apparel Group Ltd. (Nasdaq:GIII) and Emeritus Corporation (NYSE:ESC).

Other Market Watch highlights today included:

• Financial shares were on the mend today, and there were plenty of small banks near the top of the percentage movers list.  
• One immediate beneficiary of the energy price slide should be the airline group; sure enough airlines were among the best performers today.  
• The Commodity Research Bureau Index of 19 physical markets was down 1.7% at midday, clearly one of the weakest asset classes in the mix.  
• The U.S. dollar staged a big comeback against the euro today, not only wiping out overnight losses, but rising 0.9%.  
• Oil and gas drillers & oil equipment services firms are among the worst performers today; the Energy Select Sector SPDR Fund is down 2.6%.

Small Cap Gainers:

• BioSpecifics Technologies Corp. jumped 41% as the biopharma firm announced a licensing agreement with Pfizer Inc. See (Nasdaq:BSTC). 
• G III Apparel Group Ltd. jumped 21%, rising above the 20-day moving average for the first time since the third week of October. See (Nasdaq:GIII).  
• Emeritus Corporation rose 20%, as the senior facilities living operator climbed above $10 for the first time since early November. See (NYSE:ESC).  
• Chindex International Inc. rose 19% as the provider of health care products in China announced an executive pay freeze for 2009. See (Nasdaq:CHDX).  

Small Cap Losers:

• Tennant Co. slumped 19% as the safety solutions firm announced restructuring plans amid slower sales. See (NYSE:TNC).
• Central European Media Enterprises Ltd. tumbled 17% as the eastern European network gave back impressive gains from Wednesday in quick fashion. See (Nasdaq:CETV).  
• Actuant earnings slashed in first quarter, shares tumble 7%. See (NYSE:ATU).

G-III Apparel Group Ltd. (Nasdaq:GIII), Emeritus Corp. (Nasdaq:ESC) and Chindex International Inc. (Nasdaq:CHDX) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Otelco Inc. (Nasdaq:OTT), Hearst-Argyle Television, Inc. (Nasdaq:HTV), Acorda Therapeutics Inc. (Nasdaq:ACOR), Orexigen Therapeutics Inc. (Nasdaq:OREX), VisionChina Media Inc. (Nasdaq:VISN) and Bio-Reference Laboratories Inc. (Nasdaq:BRLI).

Small-cap stocks edged modestly higher into midday, with support from financial, insurance, airline and homebuilder stocks countered by sinking energy and commodity shares. At 12:27 p.m. ET, the Russell 2000 (NYSE:IWM) was up 1.55, or 0.32%, at 488.14.

Crude oil prices tumbled some 4% so far today, sinking below $38 a barrel at one point for the first time since July 2004. The pullback in crude oil prices has sent a chill throughout the energy arena; oil and gas drillers and oil equipment services firms were among the worst performers today and the Energy Select Sector SPDR Fund was down 2.6%. The U.S. dollar staged a big comeback against the euro today, not only wiping out overnight losses, but rising 0.9%, which took some of the buying edge off commodities as well. The Commodity Research Bureau Index of 19 physical markets was down 1.7% at midday, clearly one of the weakest asset classes in the mix.

One immediate beneficiary of the slide in energy prices should be the airline group, and sure enough airlines were among the best performers today. The AMEX Airline Index was up 3.2%, and small-cap carriers such as US Airways Group Inc. (NYSE:LCC) were up 3.3%, while UAL Corp. (Nasdaq:UAUA) was up 7.7%.

Financial shares were on the mend today, and there were plenty of small banks near the top of the percentage movers list. Insurance companies were clearly on a roll today, with Lincoln National Corp. (NYSE:LNC) up 7.1% at midday, and solid gains seen on other companies as well throughout the group.

Individual small caps on the move today included G III Apparel Group Ltd. (Nasdaq:GIII), which jumped 21%, rising above the 20-day moving average for the first time since the third week of October. Emeritus Corporation (NYSE:ESC) rose 20%, as the senior facilities living operator climbed above $10 for the first time since early November. ESC stock has more than doubled off the late November lows. Chindex International Inc. (Nasdaq:CHDX) rose 19% as the provider of . . .

G-III Apparel Group Ltd. (Nasdaq:GIII), Hearst-Argyle Television, Inc. (Nasdaq:HTV) and Movado Group Inc. (Nasdaq:MOV) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Lufkin Industries Inc. (Nasdaq:LUFK), NOVA Chemicals Corp. (Nasdaq:NCX) and G-III Apparel Group Ltd. (Nasdaq:GIII) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Monday started off with a bang as President-elect Obama’s stimulus plans and auto bailout talk helped buoy the Russell 2000 (NYSE:IWM) to a closing above 4%. Some of today’s small-cap gainers are DryShips (Nasdaq:DRYS), Excel Maritime Carriers (NYSE:EXM) and Titan International (NYSE:TWI).

Other Market Watch highlights today included:

• The Russell is now down 37% for 2008, while the Dow is off 33% and the S&P 500 is down 38%.
• Obama said he hopes to create more than 2.5M jobs by 2011 while launching the biggest infrastructure project in the U.S. since the 1950s.
• Commodities in general were back on the rally track today after being dismissed for the last few months amid the global slowdown.
• Corn shot up 6%, soybeans were up 4%, sugar and coffee rallied 6%, silver was up 6%, and platinum and palladium were up 7%.
• Crude oil joined in on the commodities surge, climbing 7.1%, or $2.90 a barrel.
• Oil, metal and cement stocks saw dramatic gains in several emerging market locales today.
• Commodities were bolstered by a decline in the U.S. dollar against the euro, with the greenback off more than 230 basis points, or 1.8%.

Small Cap Gainers:

• DryShips Inc. rode the wave of commodity-themed bargain hunting, closing up 51%. See (Nasdaq:DRYS).
• Within the ocean vessel theme, Excel Maritime Carriers Ltd. jumped 40% and is another stock that has seen the bottom fall out of their boat since mid-August, but is trying to mount a recovery now. See (NYSE:EXM).
• Titan International Inc. rose 37% as the tire maker for off-road . . .

MetroCorp Bancshares Inc. (Nasdaq:MCBI), G-III Apparel Group Ltd. (Nasdaq:GIII) and Heritage Crystal Clean Inc.(Nasdaq:HCCI) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Isramco Inc. (Nasdaq:ISRL), First Security Group Inc. (Nasdaq:FSGI) and China Southern Airlines ADR  (Nasdaq:ZNH) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Cheviot Financial Corp. (Nasdaq:CHEV), Peoples Bancorp of North Carolina Inc. (Nasdaq:PEBK), G-III Apparel Group Ltd. (Nasdaq:GIII), Mesa Laboratories Inc. (Nasdaq:MLAB), Young Innovations Inc. (Nasdaq:YDNT) and China Biotics Inc. (Nasdaq:CHBT).

Few can top G-III Apparel Group’s (Nasdaq:GIII) stable of trendy brands, from Calvin Klein to the newly acquired Andrew Marc. Bred for growth, this clothes horse is racking up sales in an economy only a mudder could love.

G-III’s strategy is to load up on acquisitions and licenses, providing a range of high-quality clothes to retailers — coats, jackets and pants, and women’s wear, such as suits and dresses. It makes and sells clothes under licensed, proprietary and private retail brands to retailers such as Macy’s (NYSE:M) and Nordstrom (NYSE:JWN). G-III’s made four acquisitions since mid-2005, including Andrew Marc in February. That purchase brought the brands Andrew Marc and Marc New York into the fold, along with outerwear licenses for the Dockers and Levi’s brand.

Sales — almost all of which are in the United States — have been on a tear. Revenue rose 35% to $113.5 million in the second quarter through July, from the same period in 2007. The company sported a loss in the quarter, attributed to seasonal weakness at the newly acquired Andrew Marc and its Wilsons outlet chain. G-III lost $0.23 per share, compared with a loss of $0.05 the previous year.

Still, G-III plans on eclipsing fiscal 2008’s performance, when sales grew 21.5% to $519 million and earnings per share rose 11.2% to $1.05. Guidance calls for earnings to increase to $1.35 to $1.40 per share in the 2009 year through January, and revenue to climb to $730 million.

With a market value of $316 million, New York-based G-III closed Wednesday at $19.13 per share, near the top of a 52-week range from $10.73 to $21. That puts the P/E at 13.7 based on the average analyst estimate of $1.39 for this . . .

G-III Apparel Group Ltd. (Nasdaq:GIII) saw its stock get a 7.7% boost this morning on the news that it will license Calvin Klein Inc. better women’s sportswear starting with the spring/summer 2009 season.

Calvin Klein, a wholly owned subsidiary of Phillips-Van Heusen Corp. (NYSE:PVH), announced the new deal just before the market closed Tuesday. Under the terms of the license agreement, G-III will manufacture and distribute Calvin Klein better women’s sportswear to department stores and specialty stores in the United States, Canada and Mexico, as well as additional Central and South American territories. G-III, a New York-based clothing manufacturer, already holds licenses under the Calvin Klein brand name for men’s and women’s better outerwear, women’s better dresses and suits, and most recently, a line of women’s performance apparel.

Calvin Klein President Tom Murry says that G-III’s approach to the other lines has proven successful. As a result, the company expects similar results with the women’s sportswear business.

By late morning, G-III is trading at $16.04 on heavier than normal volume, up $1.14 from Tuesday’s close. Shares have ranged between $10.73 and $21.00 during the past 52 weeks.
For detailed price information and news stories on G-III, click GIII.

Harris & Harris Group Inc (Nasdaq:TINY), G-III Apparel Group Ltd (Nasdaq:GIII) and Columbia Bancorp (Nasdaq:CBBO) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: M I Homes Inc (Nasdaq:MHO), Protherics PLC (Nasdaq:PTIL), Community Valley Bancorp (Nasdaq:CVLL), Vision Sciences Inc (Nasdaq:VSCI), Sterling Financial Corp (Nasdaq:STSA) and VirnetX Holding Corp (Nasdaq:VHC).

Here are the biggest percentage losers among small caps:

The Russell 2000 (NYSE: IWM) is posting solid gains as investors react to upbeat news about personal spending and a major corporation. At 2:58 p.m. ET, the small-cap index had climbed 15.72 points, or 2.05%, to 783.26. The Dow Jones Industrial Average (INDU) was up 213.14 points, or 1.61%, to 13,458.78.

The bulls are looking strong this afternoon as stocks are buoyed by news of stronger-than-expected personal spending and calming developments at a major financial player.

Personal spending climbed 1.1% in November, the U.S. Commerce Department reported before the start of trading. The increase, the biggest in over three years, calmed fears that Americans will spend less this holiday season due to falling home prices and higher energy costs.

Economists were expecting spending to increase 0.7% after a rise of 0.2% in October.

The same government report showed that personal income in November rose 0.4%, above October’s 0.2% increase. However, economists were forecasting a 0.5% climb.

The numbers tell us that consumers responded favorably to holiday discounts offered by retailers.

In corporate news, there’s speculation that Merrill Lynch (NYSE: MER) could sell a stake of itself for a $5 billion cash injection from Singapore’s state investment company.

That’s not a surprising move, since many other financial services giants have also sold stakes in order to secure much needed capital to deal with the consequences of the meltdown in the subprime mortgage sector.

Elsewhere, the price of oil has increased $2.29 to $93.35.

While still three months away, this week unofficially marks the start of the holiday retail season. With estimates that the consumer represents two-thirds of economic spending, one should not be surprised to find economists and pundits focused intently on consumer spending over the coming quarter.

The bulls will point to the tremendous resilience of the American consumer, while the bears will question the negative impact of housing trouble and credit turmoil. In either event, several leading newsletter advisors are focused on individual retailing firms that they believe offer value to investors.

Richard Moroney "suits up" with JoS. A. Bank Clothiers, Inc. (Nasdaq: JOSB), a retailer of men's apparel. The editor of Upside Stocks notes that the company reported July-quarter profits per share of $0.44, up 16% and $0.02 above the consensus estimate. Earnings, he notes, benefited from higher interest income.

According to Moroney, "Overall revenue rose 13%, spurred by double-digit increases in all major categories, particularly suits." The advisor points out that same-store sales rose 2.5%, helped by increased transaction volumes.

The company, he says, opened six new stores during the quarter, ending July with 391 locations. And, Moroney adds, management plans to open 50 stores in fiscal 2008 ending in January and now targets a total store count of about 600, up from prior guidance of 500.

Moroney considers the stock—which has a market cap of $644 million—modestly valued at just 13 times trailing earnings. He rates the issue a buy.

Another small cap retail on the upside “buy” list is G-III Apparel Group, Ltd. (Nasdaq: GIII), which designs, manufactures and markets a broad range of outerwear, sportswear, and women's suits and dresses. The stock has a market cap of $341 million.

A Brean Murray, Carret & Co. analyst said Neurochem Inc.’s (Nasdaq: NRMX)’s drug candidate Alzhemed will likely fail in a late-stage clinical trial and Kiacta won't receive FDA approval.

Hooker Furniture Corp. (Nasdaq: HOFT) reported double-digit declines in sales and earnings in its first quarter. The Martinsville, Virginia-based furniture manufacturer reported net income of $4.3 million or $0.33 per share, for the first quarter ended April 29, down from $5.8 million or $0.49 per share in the year-ago period.

James River Coal Co. (Nasdaq: JRCC) said it may periodically sell up to $150 million in debt securities, common and preferred stock, warrants and units. The Richmond, Va.-based coal producer said it intends to use the money for working capital and general corporate purposes.

G-III Apparel Group, Ltd. (Nasdaq: GIII) said it expects to report a wider second quarter loss. The company, which makes and licenses apparel under brand names including Calvin Klein, Kenneth Cole and Sean Jean, expects a loss of between $0.19 and $0.24 per share on revenue of about $75 million. In the year-ago quarter, the company recorded a $0.14 loss on $69.1 million in sales. Analysts polled by Thomson Financial expected a second-quarter loss of $0.12 per share on revenue of $82.3 million.

Acton, Mass.-based SeaChange International (Nasdaq: SEAC) reported a first quarter loss of $0.12 per share, which was $0.02 worse than Wall Street estimates.

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

The following small-cap companies were making news in after-hours trading Wednesday:

New York-based G-III Apparel Group, Ltd. (Nasdaq: GIII) said for the first quarter of fiscal 2008 ended April 30 that net sales were $35.1 million, compared with $14.4 million in the same quarter the previous year and above analysts' estimates at $28.17 million. The apparel manufacturer and distributor lost $0.42 per share, better than the loss of $0.72 in the same period last year and better than analysts' estimates for a loss of $0.51. The company also said its bookings were strong for the upcoming fall and holiday season, with the exception of a decline in outerwear private label programs. Shares were down $0.90, or about 4%, to $19.80 in after-hours trading. The 52-week range is $8.21 to $26.74.

Sangamo BioSciences, Inc. (Nasdaq: SGMO) said it expects to start a Phase 1 clinical trial on its HIV ZFP Therapeutic. The Richmond-Calif.-based bioscience company said it would hold the trial after it presented data on its efforts to develop a zinc finger DNA-binding protein (ZFP) Therapeutic(TM) for HIV/AIDS. Its program showed that ZFN-modified T-cells are protected from HIV infection. Sangamo was up 6% at $7.75 in after-hours trading.

SeaChange International, Inc. (Nasdaq: SEAC) said it had a 17% increase in revenues to $38.8 million for the first quarter of 2008 ended April 30, compared with the prior year period, but those sales were below analysts' forecasts for $41.42 million. Net loss for the quarter was $0.12 per share, compared with a net loss of $0.15 per share a year ago and worse than the $0.10-per-share loss expected by analysts. Shares of SeaChange were down 10.5% at $8.15 in after-hours trading. The Acton, Mass.-based software company also guided investors to expect less from it than previously indicated. SeaChange said it was now unlikely that first-half fiscal 2008 revenue would exceed revenue for the second half of fiscal 2007.

Shares in The Aristotle Corp. (Nasdaq: ARTL) are up over 11% despite news after Wednesday’s close that the Stamford, Conn.-based company’s CFO and Vice President Dean Johnson intends to sell 13,000 shares before June 16, according to an SEC filing.

TravelCenters of America LLC (AMEX: TA) shares are up more than 8% following the announcement before the start of trading Thursday that Volvo Trucks (Nasdaq: VOLV) sold the Westlake, Ohio-based truck stop operator its 28.86% interest in Petro Stopping Centers. TravelCenters now has a controlling interest in Petro. Petro owns and operates 44 travel centers, franchises 24 and operates one travel center as a joint venture. TravelCenters operates 164 travel centers.

Shares in USA Technologies, Inc. (Nasdaq: USAT) are up more than 10% following an announcement Thursday before trading that Coca-Cola will buy USA’s e-Port wireless non-cash technology for use in vending machines. According to an SEC filing, USA will receive 5% of the cashless revenues and a monthly $9.95 fee per unit for each vending machine using USA’s technology. The Malvern, Penn.-based company said it expects up to 7,500 e-Ports to be installed by August 31.

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