Tag - Hdix

Starrett LS Co. (Nasdaq:SCX), First Financial Corp. (Nasdaq:THFF) and Sciele Pharma Inc. (Nasdaq:SCRX) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.         

Also included among the results: CombiMatrix Corp. (Nasdaq:CBMX), Standex International Corp. (Nasdaq:SXI), Home Diagnostics Inc. (Nasdaq:HDIX), Medivation Inc. (Nasdaq:MDVN), DXP Enterprises Inc. (Nasdaq:DXPE) and Datascope Corp. (Nasdaq:DSCP).         

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

The Russell 2000 (NYSE: IWM) moved lower today on news from Wachovia Corp. (NYSE: WB) of more than $1 billion in losses due to the credit crunch. The small-cap index dropped for the third time this week, retreating 8.52 points, or 1.09%, to 772.38. The Dow Jones Industrial Average (INDU) shed 223.55 points, or 1.69%, to 13,042.74.

On a year-to-date basis, the Russell 2000 has lost 1.92%, while the Dow has advanced 4.56% and the S&P 500 has added 2.62%.

The bears dominated the session today following news that Wachovia Corp. expects to suffer additional losses of $1.1 billion in the third quarter due to collateralized debt obligations.

The Charlotte, N.C.-based bank, the fourth largest in the United States, also said that it will write down collateralized debt obligations of about $1.11 per share for the month of October and expects to see loan losses of over $500 million in parts of the country that have been most severely affected by the slump in the housing sector.

The news comes as the latest reminder that the subprime mess continues to plaque the financial system.

The small-cap futures were pointing south and the Russell 2000 joined the other major U.S. indices in opening with a drop.

There was some upbeat economic news today, coming in the form of a surprise narrowing of the U.S. trade deficit. The Commerce Department reported that the deficit declined 0.6% to $56.5 billion in September, the lowest level since May 2005, as exports increased due to a weak dollar and strong growth overseas. In August the deficit stood at $56.8 billion.

The Russell 2000 (NYSE: IWM) is firmly in negative territory this afternoon on news of more credit problems and a drop in consumer confidence. At 2:13 p.m. ET, the small-cap index was off 7.26 points, or 0.93%, to 773.64. The Dow Jones Industrial Average (INDU) was down 122.34 points, or 0.92%, to 13,143.95.

The contagion from the meltdown in the subprime mortgage sector infected Wachovia Corp. (NYSE: WB) today, as the fourth largest U.S. bank announced before the opening that it expects to suffer additional losses of $1.1 billion in the third quarter due  to collateralized debt obligations.

Stocks dropped out of the opening and the bears have not looked back since.

More bad news came in the form of a surprisingly sharp decline in November consumer sentiment. Preliminary data reported by the University of Michigan after the start of trading showed that consumer confidence fell to 75.0 from 80.9 in October. Economists were expecting a more modest decline to a level of 80.

The result, the lowest reading in two years, indicates that American consumers are feeling less confident about the economy and are not as willing to spend money. That’s a bad sign, because consumption comprises about 70% of gross domestic product.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Hutchinson Technology Inc. (HTCH), up 16% on news of a rise in fiscal fourth-quarter profit.
• Omega Financial Corp. (OMEF), up 15% on news it is being acquired by F.N.B. Corp. (FNB) for $393 million.
• AMIS Holdings Inc. (AMIS), up 15% on news that third-quarter earnings beat expectations.

Biggest percentage losers:

• Rigel Pharmaceuticals Inc. (RIGL), down 19% despite news of a successful drug trial.
• Home Diagnostics Inc. (HDIX), down 18% on news of an analyst downgrade.
• Virco Manufacturing Corp. (VIRC), down 16%. A company representative could not be reached for comment.

The Russell 2000 (NYSE: IWM) is plummeting on news of more fallout from the meltdown in the subprime mortgage sector.

At 10:22 a.m. ET, the small-cap index had lost 8.23 points, or 1.05%, to 772.67. The Dow Jones Industrial Average (INDU) was down 134.29 points, or 1.01%, to 13,132.

The bears are out in full force today following news before the opening that Wachovia Corp. (NYSE: WB) expects to suffer additional losses of $1.1 billion in the third quarter due to subprime mortgage-related debt. The Charlotte, N.C.-based bank, the fourth largest U.S. bank, said that it will write down collateralized debt obligations of about $1.11 per share for the month of October.

Wachovia also announced that it expects to see loan losses of over $500 million in parts of the country that have been most severely affected by the slump in the housing sector.

The news came as a nasty reminder that the subprime mess continues to ripple through the financial system.

In economic news, the U.S. Commerce Department reported that the trade deficit unexpectedly narrowed in September. The deficit came to $56.5 billion, the lowest level since May 2005 and a decline of 0.6% from $56.8 billion in August. A weak dollar and strong growth overseas helped exports grow more than imports.

The prices of U.S. exports rose 0.9% October from 0.3% in September, according to the Labor Department.

Shares of Home Diagnostics, Inc. (Nasdaq: HDIX) are falling this morning after the manufacturer and marketer of diabetes testing supplies reported weak second-quarter results below analyst expectations.

For the three months ended June 30, the Fort Lauderdale, Fla.-based company recorded earnings of $0.09 per share, below the $0.15 per share analysts were anticipating. The current quarter’s results compare with earnings of $0.11 for the second quarter last year.

“What happened in the quarter is that sales to distributors didn’t match out-the-door sales,” said Barrington Research analyst Derek Leckow. “Distributor days of inventory outstanding ran 50% below last year.”

Total revenue for the second quarter declined 1.7% to $28.1 million, also below analysts’ expectations of $30.3 million. Revenues for the second quarter of 2006 were $28.5 million.

Shares of Home Diagnostics tumbled 32.5%, or $3.69, on the news to a new 52-week low of $7.65 Thursday morning. Shares have been trading in a band of $9.88 to $13.20 for the past year.