Tag - Icxt

ICX Technologies (Nasdaq:ICXT), BPZ Resources (Nasdaq:BPZ), Flanigans Enterprises (Nasdaq:BDL) and Gyrodyne Company of America (Nasdaq:GYRO) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

ICX Technologies (Nasdaq:ICXT), Origin Agritech (Nasdaq:SEED), Entorian Technologies (Nasdaq:ENTN) and American Apectrum Realty Inc (Nasdaq:AQQ) are among the biggest percentage Gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

After kicking off the year’s spookiest month sharply lower, small caps continue to spiral downward, dragged down by the uncertainty surrounding a vote in the Senate today on the proposed $700 billion bailout plan. 

At 12:33 p.m. ET, the Russell 2000 (NYSE:IWM) was down 9.61, or 1.41%, at 669.97.

The Senate’s vote carries great weight, as the House voted down a similar version of the bailout bill on Monday. The market rallied Tuesday on hopes that a bailout plan of sorts will be passed soon; however, that rally has faded today, as uncertainty over the bill’s passage has become more prominent.  The Senate’s version of the bill would permit the Federal Deposit Insurance Corp. to temporarily increase the amount of insurance it currently offers depositors should banks fail. The Senate will vote on the bill after sunset today due to observance of the Jewish New Year, Rosh Hashanah.

Given that the status of passage of a bailout plan is in limbo, credit markets remain on lock down. Libor, which spiked to 6.875% on Tuesday from 2.569% on Monday, has pulled back today to 4% and change midday. The “Libor” rate was at the highest point since January and the eurozone equivalent was at 14-year highs. Investors continued to pour into treasuries as a safe haven, sending prices higher and yields lower.

“From tax break extenders to alternative energy to an increase in FDIC insurance for deposits up to 250k to authority to suspend mark-to-market accounting, this bill is going to pass the Senate when they vote on it tonight,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “If the U.S. House of Representatives brings this bill up again for a vote, it will pass [because] there’s no way Nancy Pelosi will bring up a bill that will fail because she will lose her job and so will many Democrats in the election. Congress has an extremely low approval rating from the voters now and anything can easily shift sentiment to the other side.  I believe that as soon as Pelosi announces a vote, the deal is done.”

Lackluster economic news added to the glum on Wall Street. The ISM Manufacturing Survey came in well below the projection of 49.8 at 43.5. The Street was also focused on the ADP Employment survey, ahead of the big employment report on Friday. The ADP survey registered a decline of 8,000 jobs in August, which was better than the forecasted plunge of 60,000. Though better-than-expected, August’s number was revised downward slightly and traders understand that there is a disconnect between the ADP number and the Labor Department’s upcoming data. A consensus of economists is forecasting the Labor Department will report decline in non-farm payrolls of 100,000 and an unemployment rate of 6.1%. ...

Shares of ICx Technologies (Nasdaq:ICXT) soared by 16% this morning on the news that the firm had won a $711 million, seven-year contract with the U.S. Army.

Before the bell this morning, Washington-based ICx Technologies said it had been awarded a system-engineering, analysis and integration contract by the U.S. Army Research and Development Engineering Command Acquisition Center.

The contract begins in the fourth quarter with an initial two-year, $20 million product-development effort.

ICx Technologies develops advanced sensor technologies for homeland security, force protection and commercial applications. Its proprietary sensors are designed to detect and identify chemical, biological, radiological, nuclear and explosive threats.

By late morning, ICx Technologies is at $8.98, up $1.27 from Tuesdayʼs close. More than 250,000 shares had changed hands compared with an average three-month volume of 52,364 shares.

The stock has ranged between $3.81 and $15.50 during the past 52 weeks.

Small-cap stocks opened lower, pulled down by profit-taking from hot money traders who caught the big rally Tuesday, a batch of soft private employment reports and reticence ahead of Washington’s latest vote on the financial bailout package. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 8.65, or 1.27%, at 670.94.

Although the market is starting to take more notice on the economic data front ahead of Friday’s big jobs release, the lion’s share of attention is still squarely on the surprisingly uncertain world of politics and the proposed $700 billion bailout of Wall Street after House Republicans voted down a bill authored by the Republican administration. The latest version of the bill — with new “extenders” included, is up for a Senate vote later today. Although nothing is certain in politics, especially in an election year, there is a sense among market watchers that some version of the rescue plan will be approved by the end of the week.

As for the economic reports already in hand this morning, stock index futures appeared to briefly extend overnight declines after the ADP Employment survey showed a decline of just 8,000 jobs last month, which was better than the forecast for a slide of 60,000. Even though the number would seem supportive, August was revised downward slightly and traders are well aware that the ADP number has not been tracking well with the Labor Department release, which is slated for Friday morning. A consensus of economists is forecasting the Labor Department to show a decline in non-farm payrolls of 100,000 and an unemployment rate of 6.1%.

In other economic news, the ISM Manufacturing Survey came out at 10:00 a.m. ET, and the headline figure was at 43.5, which was well below the projection of 49.8. The dollar gave up some of its overnight gains after the weak ISM figure, interest rates pushed higher and Fed funds futures edged above a 50% chance for a . . .

Palm Harbor Homes, Inc. (Nasdaq:PHHM), DexCom, Inc. (Nasdaq:DXCM) and ADA-ES, Inc. (Nasdaq:ADES) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

TransAct Technologies Inc. (Nasdaq:TACT), Gencor Industries, Inc. (Nasdaq:GENC) and ICx Technologies, Inc. (Nasdaq:ICXT) are also among the top small-cap percentage gainers.

Here are Monday's biggest percentage gainers among small caps:

ICx Technologies, Inc. (Nasdaq: ICXT), a developer of sensor technologies for homeland security, force protection and commercial applications, reported a wider than-expected fourth-quarter net loss and issued disappointing first-quarter guidance. Shares plummeted 37.5%, or $2.34, to $3.90 out of the gate.

For detailed price information and recent news stories about ICx Technologies, click ICXT.