Tag - Gldd

Ares Capital Corp. (Nasdaq:ARCC), Great Lakes Dredge & Dock Corp. (Nasdaq:GLDD) and Bancorp Bank (Nasdaq:TBBK) 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), ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), Jinpan International Ltd. (Nasdaq:JST), Orexigen Therapeutics Inc. (Nasdaq:OREX), UAL Corp. (Nasdaq:UAUA) and Biocryst Pharmaceuticals Inc. (Nasdaq:BCRX).

Small-cap stocks tumbled on the open, pulled down by spillover selling from a decline in overseas markets fueled by a weak tone in financial and commodity shares. Today’s small-cap gainers are Optimer Pharmaceuticals (Nasdaq:OPTR), Crucell (NYSE:CRXL) and Great Lakes Dredge & Dock Corporation (Nasdaq:GLDD).

Other Market Watch highlights today included:

• Ernst & Young survey: 52% of CEOs of Russell 2000 companies expect no real economic upswing until 2010.  
• As for the crude oil, the market for black gold was down about $2 a barrel into the U.S. stock market opening and briefly printed below $60.  
• Small caps tumbled on the open, pulled down by spillover selling from a decline in overseas markets fueled by a weak tone in financial and commodity shares.  
• Emerging markets were taking a hit this morning, with stock markets in Russia slipping 9% at times overnight, while shares in Dubai off 7%.  

Small Cap Gainers:

• Optimer Pharmaceuticals soaring 75% in pre-market on Phase 3 news. See (Nasdaq:OPTR).  
• Biotech firm Crucell swings to profit in Q3; shares up over 10% in pre-market. See (Nasdaq:CRXL).  
• Morgan Joseph upgrades Great Lakes Dredge & Dock Corporation to "buy" from "hold;" shares up 8%. See (Nasdaq:GLDD).  


Small Cap Losers:

• Browne & Co. Inc. is off 36% as the marketing communication company took a hit after reporting earnings. See (NYSE:BNE).  
•  Taleo down 29% ahead of the bell after filing notification with SEC for late filing of Q3 report. See (Nasdaq:TLEO).  
• Focus Media Q3 earnings trail Street; Q4 outlook weak. Shares are slumping 35% in pre-market. See (Nasdaq:FMCN).  
• Sangamo Biosciences nerve drug fails a mid-stage trial, shares sink 60% in pre-market. See (Nasdaq:SGMO).  

The Russell 2000 (NYSE: IWM) is rising on news of a stock buyback program by International Business Machines Corp. (Nasdaq: IBM) and despite poor economic reports.

At 11:56 a.m. ET, the small-cap index was up 9.01 points, or 1.27%, to 719.47. The Dow Jones Industrial Average (INDU) was down 84.34 points, or 0.67%, to 12,654.56.

Small-cap stocks moved into positive territory immediately after IBM announced at around 11 a.m. ET that its board has authorized a $15 billion share buyback program that could boost 2008 earnings per share.

Trading has been volatile this morning, with most of the major U.S. indices generally staying below the flat line on news of economic reports that point to inflation and dispirited consumers.

The U.S. Labor Department reported before the opening that producer prices increased 1% in January, more than the expected 0.4%.

After the opening the Conference Board announced that its index of consumer confidence fell to a five-year low of 75.0 in February, down from 87.3 in January. Economists were expecting a more modest decline.

Among the biggest small-cap winners is China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), which announced after the close on Monday that it swung to a fourth-quarter net income and outpaced analysts’ projections.

Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) shares are up in morning trading after the provider of dredging and demolition services reported its third-quarter revenue rose to $116.46 million, above Wall Street estimates of $108.73 million and up 43% from $81.7 million a year earlier.

“The company’s strategy of increasing our international presence paid significant dividends in the quarter in terms of revenue growth,” CEO Douglas B. Mackie said in a statement. “The company’s purchase of two additional dredges during the fourth quarter will complement equipment purchases made earlier this year to further increase our capacity internationally.”

The firm swung to a quarterly profit $0.64 million, or $0.01 per share, below analyst estimates of $0.04 per share and compared with a loss of $0.97 million, or $0.33 per share, during the same period of 2006.

The Oak Brook, Ill.-based company’s order backlog at the end of the quarter was $290.9 million, versus $239.6 million a year earlier.

In morning trading, GLDD shares are up 1.01%, or $0.09, at $8.96. Over the last 52 weeks, shares have ranged from $5 to $10.27.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are higher following news of strong corporate earnings and mixed economic data.

At 10:30 a.m. ET the Russell 2000 had added 0.93 points, or 0.12%, to 778.85. The Dow had gained 24.47 points, or 0.18%, to 13,386.84.

The bulls took charge right out of the gate on news that Finnish mobile phone maker Nokia Corp. (NYSE: NOK) reported a doubling of its second-quarter profit.

Viacom Inc. (NYSE: VIA), which owns MTV Networks and Paramount movie studios, also beat analysts’ net income projections, while Seattle-based coffee chain Starbucks Corp. (NYSE: SBUX) saw its quarterly revenue rise 20% to $2.4 billion from $2 billion a year earlier.

In economic news, the number of Americans looking for work increased slightly for the week ended July 28, but that rise was below economists’ projections.

The U.S. Labor Department reported that jobless claims added 4,000 to 307,000, while economists were expecting an increase of 7,000 to 310,000.

Clouding the economic picture was news that new orders for manufactured goods increased 0.6% in June, below the anticipated 1.3%, according to the U.S. Census Bureau.

The following are the most actively traded company's with market capitalizations under $500 million:

The Russell 2000 and the other major indices are falling despite news of strong earnings at Morgan Stanley and a fall in bond yields.

At 10:15 a.m. ET the Russell 2000 has lost 1.91 points, or 0.23 percent, to 846.43. Dow Jones Industrial Average was down 4.39 points, or 0.03 percent, to 13,631.03.

Investors reacted well to news that New York-based financial services giant Morgan Stanley (NYSE: MS) reported a 40% increase in its second-quarter net income, while revenue rose 32% to $11.52 billion.

Elsewhere, the yield on the U.S. government’s 10-year Treasury note has fallen to 5.13%, easing concerns of higher borrowing costs. Bond yields help determine rates on loans and mortgages.

LSI Industries Inc. (Nasdaq: LYTS), which provides visual image solutions, projects fourth-quarter earnings in the range of $0.27 per share and $0.29 per share, the Cincinnati, Ohio-based company said this morning. That’s above Wall Street’s projected income of $0.22 per share. The stock is up $1.23, or 8%, to $16.55.

Shares of Avalon Pharmaceuticals, Inc. (Nasdaq: AVRX) are higher following news after Tuesday’s close that the Germantown, Md.-based company announced positive interim results from its Phase I study of a drug that treats hematologic malignancies. The stock is up $0.59, or 12%, to $5.70.

Massachusetts producer of mechanical power transmissions and motion control products Altra Holdings, Inc. (Nasdaq: AIMC) announced the pricing of a public offering of its common stock before the bell Wednesday.  The offerings will be priced at $16.40 per share.

Illinois-based provider of dredging services Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) announced a $100 million secondary offering of shares of its common stock.

Silicon supplier Hoku Scientific, Inc. (Nasdaq: HOKU) received a decade-long contract worth about $678 million to supply polysilicon to Suntech Power Holdings Co. Ltd. (NYSE: STP).

Starbucks Corp. (Nasdaq: SBUX) announced it will no longer sell Jones Soda Co. (NASDAQ: JSDA) in its coffee shops beginning this summer.

Drug developer ArQule, Inc. (Nasdaq: ARQL) priced 7 million shares in its secondary offering at $7.75 a share.

Merriman Curhan Ford said Rackable Systems, Inc. (Nasdaq: RACK) is in “turnaround mode” in an upbeat assessment.

RAM Holdings Ltd. (Nasdaq: RAMR) announced an offering of 4.6 million shares priced at $15.50 apiece.

MSNBC pundit Jim Cramer gave Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) a bullish mention.

Beverly Hills Bancorp Inc. (Nasdaq: BHBC) reported its corporate board is going to review the company's strategic alternatives, including a possible sale.

The following are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

Brains, brawn and beauty are a winning combination, never more so than with Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD). It has the muscle: demolishing and rebuilding harbors, dredging silt, deepening rivers and ports, reclaiming coastal lands. It has the smarts: sophistication honed by more than a century of experience. Then there’s the jewel: Great Lakes is the runaway leader in a growing—and protected—market. 
 
Great Lakes Dredge & Dock swamps its competition. Over the past three years, the company’s market share of the U.S. dredging market has averaged 37%, with four other companies combining for a 45% share—not one holding more than 20%. There are lots of players—about 180 companies using 600 dredges—but Great Lakes has the stronger, more diverse fleet of vessels. The size and complexity of the work, necessary equipment, bonding requirements and various regulations simply keep the shrimps out of the business.

Headquartered near Chicago in Oak Brook, Ill., Great Lakes has operated under one name or another for 117 years, and has reams of data on winning bids and project details. This intelligence, plus its strong history and reputation, helps the company win bids at profitable margins and build a backlog of business. Great Lakes prides itself on never failing to complete a contracted project.

Fueled by international trade and growing coastal populations, the need for dredging, deepening, excavating and reconstructing ports and shorelines will grow for years, said Richard Paget of Morgan Joseph and Co. in a research report when he initiated coverage of Great Lakes with a buy rating at the beginning of the year.

San Diego-based Accredited Home Lenders Holding Co. (Nasdaq: LEND) announced it will be acquired by Lone Star Funds for $15.10 per share, or about $400 million, in cash. The mortgage banking company said the deal is expected to be closed in the third quarter ending Sept. 30.

Telik, Inc. (Nasdaq: TELK) announced results from the third phase in a study of the biopharmaceutical company’s lung cancer drug Telcyta Assist-2. The Palo Alto, Calif.-based business said the trial missed the primary endpoint.

Biopharmaceutical company Immunomedics, Inc. (Nasdaq: IMMU) announced that treatment with the Morris Plains, N.J.-based business’ cancer drug Epratuzumab along with chemotherapy is well tolerated and feasible in children with a type of leukemia.

Cambridge, Mass.-based Ariad Pharmaceuticals, Inc. (Nasdaq: ARIA) reported patient enrollment for the third trial phase of the company’s AP23573 cancer drug will be delayed to the third quarter ending Sept. 30.

The following are the most actively traded companies in Monday pre-market trading among those with market capitalizations under $500 million:

Phazar Corp. (Nasdaq: ANTP) announced Thursday evening that the company’s Antenna Products unit received a $0.9 million order from the Spanish telecom company Page Iberica S.A. The Madrid-based company ordered four Multiport Antenna Systems. Phazar said the order will be shipped in October for installation at a Spanish NATO site.

Sporting goods equipment maker Everlast Worldwide Inc. (Nasdaq: EVST) announced Friday morning it agreed to be acquired by Hidary Group for $26.50 a share, or more than $146 million, in cash. Hidary’s offer is a 30% premium over Everlast’s average closing price over the last month. The all-cash offer, which still has to be approved by Everlast’s shareholders, should make Everlast private by the third quarter ending Sept. 30, the company said.

Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) received a bullish mention Thursday evening by MSNBC pundit Jim Cramer. The Illinois, Ill.-based business provides dredging, marine construction and demolition services.

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

Labopharm Inc. (Nasdaq: DDSS) shares down sharply following an announcement at the closing bell Thursday that the Toronto, Canada-based pharmaceutical company has received a second approvable letter from the Food and Drug Administration regarding the pain relief drug Tramadol. The letter said that Labopharm has not demonstrated the efficacy of its once-daily formulation of Tramadol, because the statistical methods the company used to analyze data from its clinical trials “did not adequately address missing data relating to subjects who dropped out of the trials.” In a press release, the company said the FDA did not explain why the statistical methods were inadequate. Labopharm said it seeks to clarify the issue with the FDA as soon as possible.

Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) are up after a bullish mention Thursday evening by MSNBC pundit Jim Cramer. The Illinois, Ill.-based business provides dredging, marine construction and demolition services.

Shares in DexCom, Inc. (Nasdaq: DXCM) are up following the announcement after Thursday’s closing bell that the FDA approved its seven-day continuous glucose monitoring device for people with diabetes. The San Diego-based medical devices maker said it plans to launch the monitoring device – called Seven – by the end of the summer.

Phazar Corp. (Nasdaq: ANTP) shares are soaring following the announcement Thursday evening that the company’s Antenna Products unit received a $0.9 million order from the Spanish telecom company Page Iberica S.A. The Madrid-based company ordered four Multiport Antenna Systems. Phazar said the order will be shipped in October for installation at a Spanish NATO site.

The following are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million: