Tag - Hitk

Biocryst Pharmaceuticals Inc. (Nasdaq:BCRX), Geron Corp. (Nasdaq:GERN) and China Southern Airlines (Nasdaq:ZNH) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Protalix BioTherapeutics Inc. (Nasdaq:PLX), Hi-Tech Pharmacal Inc. (Nasdaq:HITK), CNinsure Inc. (Nasdaq:CISG), Salix Pharmaceuticals Ltd. (Nasdaq:SLXP), Jinpan International Ltd. (Nasdaq:JST) and Mellanox Technologies Ltd. (Nasdaq:MLNX).

Interactive Intelligence Inc. (Nasdaq:ININ), Noven Pharmaceuticals Inc. (Nasdaq:NOVN) and Stein Mart, Inc. (Nasdaq:SMRT) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ardea Biosciences Inc. (Nasdaq:RDEA), Books-A-Million Inc. (Nasdaq:BAMM), Clearwater Paper Corp. (Nasdaq:CLW), Hi-Tech Pharmacal Inc. (Nasdaq:HITK), Global Consumer Acquisition Units (Nasdaq:GHC.U) and SXC Health Solutions Corp. (Nasdaq:SXCI).

Hi-Tech Pharmacal Inc. (Nasdaq:HITK), Noven Pharmaceuticals Inc. (Nasdaq:NOVN) and Interactive Intelligence Inc. (Nasdaq:ININ) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: USEC Inc. (Nasdaq:USU), Excel Maritime Carriers Ltd. (Nasdaq:EXM), American Dairy Inc. (Nasdaq:ADY), Fuqi International Inc. (Nasdaq:FUQI), Xyratex Ltd. (Nasdaq:XRTX) and Blue Nile Inc.. (Nasdaq:NILE).

Deluxe Corp. (Nasdaq:DLX), DineEquity Inc. (Nasdaq:DIN) and Kohlberg Capital Corp. (Nasdaq:KCAP) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hi-Tech Pharmacal Inc. (Nasdaq:HITK), Rigel Pharmaceuticals Inc. (Nasdaq:RIGL), ATP Oil & Gas Corporation (Nasdaq:ATPG), Greenbrier Companies Inc. (Nasdaq:GBX), Investors Title Co. (Nasdaq:ITIC) and Oriental Financial Group Inc. (Nasdaq:OFG).

China East Air Depository Receipt (Nasdaq:CEA), Florida Public Utilities Co. (Nasdaq:FPU) and Imergent Inc. (Nasdaq:IIG) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Providence Service Corp. (Nasdaq:PRSC), China Southern Airlines (Nasdaq:ZNH), Frisch's Restaurants Inc. (Nasdaq:FRS), Hi-Tech Pharmacal Inc. (Nasdaq:HITK), Zion Oil and Gas Inc. (Nasdaq:ZN) and MSB Financial Corp. (Nasdaq:MSBF).

DryShips Inc (Nasdaq:DRYS), Excel Maritime Carriers Ltd (Nasdaq:EXM) and Eagle Bulk Shipping Inc (Nasdaq:EGLE) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Genco Shipping & Trading Ltd (Nasdaq:GNK), Safe Bulkers Inc (Nasdaq:SB), KMG Chemicals Inc (Nasdaq:KMGB), ATP Oil & Gas Corporation (Nasdaq:ATPG), Hi-Tech Pharmacal Inc (Nasdaq:HITK) and TBS International Ltd (Nasdaq:TBSI).

Hi-Tech Pharmacal Co. (Nasdaq:HITK) is up more than 11% today after the company reported ahead of the opening that its fourth-quarter earnings had swung to a profit. For the quarter ended April 30, the prescription and nutritional products manufacturer reported net earnings of $0.3 million, or $0.02 per share, compared with a net loss of $2.2 million, or $0.19 per share, for the same quarter a year ago. Analysts were expecting profits of $0.01 a share. The Amityville, N.Y.-based company said sales of new products helped contribute to the profitable quarter.

Shares of Hi-Tech Pharmacal are at $11.60 at 2:00 p.m. ET, up $1.21 from Thursday’s close. Trading volume soared above 200,000 shares, well above the average of 42,000 shares.

The Russell 2000 (NYSE: IWM) began the session in the red amid speculation of future interest rate cuts.

At 10:03 a.m. ET, the small-cap index was down 1.16 points, or 0.18%, to 658.95. The Dow Jones Industrial Average (INDU) had declined 2.85 points, or 0.02%, to 11,890.84.

The U.S. Federal Reserve will drop its target federal funds rate to 2% by late April, according to a report by investment bank The Goldman Sachs Group, Inc. (NYSE: GS) before the start of trading.

An analyst with the New York-based company thinks the Fed will lower its target interest rate 0.5% during its next two regularly scheduled meetings, the first of which is on March 18. However, the report claims that an emergency rate cut as early as Monday can’t be ruled out.

The federal funds rate, the rate commercial banks charge each other for overnight loans, currently stands at 3%.

The Russell 2000 (NYSE: IWM) has rebounded from earlier losses and is posting a solid gain. At 1:30 p.m. ET, the small-cap index had added 3.25 points, or 0.47%, to 700.68. The Dow Jones Industrial Average (INDU) was down 18.61 points, or 0.15%, to 12,482.50.

Small-cap stocks have recovered after hitting their lowest point during the first half of trading at about 11 a.m. ET, when the index fell to a level just above 690 points.

The bounce has no apparent explanation, but it’s likely that investors took a second look at JPMorgan Chase & Co. (NYSE: JPM).

The New York-based banking heavyweight reported that fourth-quarter net income declined 21% to $3 billion, or $0.86 per share, compared with $3.9 billion, or $1.09 per share a year earlier. The result is below analysts’ expectations and largely attributed to about $1.3 billion in writedowns due to bets made on securities backed by subprime mortgage loans.

But the third largest U.S. bank also reported that it added $2.3 billion to its credit reserves for the 2007 year and saw its fourth-quarter revenue rise above Wall Street’s projections.

In economic news, the U.S. Labor Department reported before the start of trading that consumer prices rose 0.3% in December. That’s above economists’ projected increase of 0.2%, but below November’s 0.8% jump.

Shares of Hi-Tech Pharmacal Co., (Nasdaq: HITK) slid 9.4%, or $1.04, to $10.05 after the specialty pharmaceutical company reported it swung to a net loss in the fourth quarter.

For the three months ended April 30, 2007, Hi-Tech Pharmacal recorded a net loss of $2.2 million, compared with net income of $2.1 million in the fourth quarter last year.

The Amityville, N.Y.-based company said the net loss was due to a 19% decrease in net sales of its generic pharmaceutical products, which was due to pricing declines, and a 24% sales decrease in its over the counter products. Total net sales for the fourth quarter were $13.3 million, a decrease of 27% compared with net sales of $18.8 million in the fourth quarter last year.

Michael Donohue at Matrix USA, who has a strong “sell” on the stock, says Hi-Pharmacal is trading ahead of fundamentals. “Their return on capital went from 20% in January 2006 to -0.3% last quarter,” said Donohue. “Their EVA [economic value added] went from $7 million in January of 2006 to -$6 million in January 2007.” According to Donohue, the stock is the lowest ranked in Matrix’s universe--in the fifth percentile.

The manufacturer and marketer of generic and branded prescription and OTC products also reported fiscal year results today for the year ended April 30, 2007. The company reported a net loss of $2.0 million, or $0.17 per share for the year, compared with net income of $11.5 million, or $0.85 per fully diluted share, for 2006. Two analysts polled by Thomson Financial expected EPS for the fiscal year 2007 of $0.02.