Tag - Iiji

ADC Telecommunications Inc. (Nasdaq:ADCT), WuXi PharmaTech Cayman Inc. (Nasdaq:WX) and Lydall Inc. (Nasdaq:LDL) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Brigham Exploration Co. (Nasdaq:BEXP), Jazz Pharmaceuticals Inc. (Nasdaq:JAZZ), Internet Initiative Japan Depository Receipt (Nasdaq:IIJI), ArvinMeritor Inc (Nasdaq:ARM), China TransInfo Technology Corp. (Nasdaq:CTFO) and E House China Holdings Ltd. (Nasdaq:EJ).

For much of today's trading session stocks were weighed down by falling crude oil prices and an update to the IMF's expectations for the world economy.

Oil continued its six day slide dropping to barely over $60 a barrel from an eight month high of $73 just last week. The IMF announced that it expects the world economy to shrink by 1.4% in 2009, as opposed to its earlier estimate of 1.3%. Still, it did counter that by stating that growth in 2010 should be 2.5%, versus its April estimate of 1.9%.

The Dow closed up 15 points in a late move to finish at 8,178. The Nasdaq inched up just 1 point to close at 1,747 and the S&P 500 was down just slightly at 880.

The Russell 2000, an index of 2,000 small-cap companies, closed down 0.94% at 480.

Leading small-cap decliners was ARYx Therapeutics (Nasdaq:ARYX) down 43% after news was released of the failure of it's anticoagulant agent. The company announced that data from its studies of Tecarfarin did not indicate any statistically significant superiority over Warfarin, a commonly used blood-thinning drug.

Other decliners include Southern Community Financial (Nasdaq:SCMFO) down 23%; American Axle & Manufacturing Holding (NYSE:AXL) down 23%; Atlantic Southern Financial Group (Nasdaq:ASFN) down 17%; and YRC Worldwide (Nasdaq:YRCW) down 24%.

YRC was down yesterday on news that management and Teamsters union officials had still not found an agreeable resolution to YRC's continuing financial worries. Today the stock tumbled further as talks appeared to go nowhere on Wednesday. In addition to a slowing economy calling for less trucking, YRC has been hampered with integration costs from its Yellow and Roadway operations as well as picking up the tab on multi-employer pension plans. YRC participates in the Central States multi-employer pension fund and as other trucking companies have disappeared over the years YRC's responsibilities within the fund have grown. As with many other large industries, YRC is facing mounting pension liabilities that are hampering its ability to weather the recession.

Small-cap gainers were lead by Novogen Limited (Nasdaq:NVGN) up 31%. This is on top of Tuesday's 37% gain on news that the Novogen-licensed oncology drug Phenoxodiol showed great promise in treating acute lymphoid leukemia and may have applications treating autoimmune disease as well.

Other small-cap gainers include fellow pharmaceutical Targacept (Nasdaq:TRGT) up 28% on news that development of its ADHD drug will move forward in studies. The company will receive a $10 million payment from development partner AstraZeneca (NYSE:AZN) and remains eligible to receive an additional $100 million. Leaders also include Internet Initiative Japan (Nasdaq:IIJI) up 23% and biotech firm Amgen (Nasdaq:AMGN) up 14%.

*****Yesterday, Reuters reported that the delinquency rate on credit card debt hit 6.6% in the first quarter of 2009. On mortgage loans, delinquencies hit 3.5%.  
I can virtually guarantee both numbers were higher in the second quarter. And I expect them to move still higher in the future.  

Unemployment will continue to rise. And even when it stops rising, it's not going to magically reverse course, not when the U.S. economy is only growing 1% or 2% a year.  
The recession we're possibly on the verge of exiting has been unique. It wasn't a consumer-led recession. Rather, it was a fundamental recession brought on by weakness in the very foundations of the U.S. economy.  

You don't wake up from this with just a hangover. You wake up without your car because you just wrecked it and your driver's license has been suspended and you now have to take a bus wherever you want to go.  

*****That's why the IMF and the G-8 is now calling for more stimulus packages and funds. The G-8 is meeting in Italy. The U.S. appears to be in "wait and see" mode, despite some calls for more stimulus programs. And rightfully so. The U.S. done a lot, maybe more than it should, to throw money into the system. It's time for some others to step up and do what they can do. 

At the same time the G-8 is talking stimulus, it's also talking about how to reign in stimulative monetary policy. This undoubtedly a good thing. We're all well aware that if rates don't rise, and liquidity gets sopped up, then inflation could run rampant.  
Of course, inflation is not much of a threat now. But once the global economy starts growing again, central banks will have to respond with higher rates, even though growth won't be robust. (If you're interested in loading up on the stocks that will outperform once inflation hits click here for my Inflation Busters report.) 

*****This is a very interesting time for investors. It's going to be critical to be in the right stocks, and in the right sectors. Equally important will be avoiding sectors that are facing significant headwinds. Financials still seem to be among the most vulnerable sectors, while technology and healthcare are demonstrating a lot of promise.  
Investing in this new economic paradigm (which I haven't come up with a name for yet) is going to be a common theme for us here in SCI Daily.

Akeena Solar Inc. (Nasdaq:AKNS), Centrue Financial Corp. (Nasdaq:TRUE) and Alon USA Energy Inc. (Nasdaq:ALJ) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Peapack Gladstone Financial Corp. (Nasdaq:PGC), Dover Motorsports Inc. (Nasdaq:DVD), iPCS Inc. (Nasdaq:IPCS), Internet Initiative Japan Depository Receipt (Nasdaq:IIJI), Ambac Financial Group (Nasdaq:AKT) and LandAmerica Financial Group Inc. (Nasdaq:LFG).

Here are the biggest percentage gainers among small caps:

MAXXAM Inc. (Nasdaq:MXM), Internet Initiative Japan Depository Receipt (Nasdaq:IIJI) and Eagle Rock Energy Partners L.P (Nasdaq:EROC) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: WNS Holdings Ltd. (Nasdaq:WNS), US Global Investors Inc. (Nasdaq:GROW), Vantage Energy Services Inc. (Nasdaq:VTG), BreitBurn Energy Partners L.P (Nasdaq:BBEP), Shanghai Pechem Depository Receipt (Nasdaq:SHI) and Advent/Claymore Global Convertible Secs & Inc. Fund (Nasdaq:AGC).

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

Kenexa Corp. (Nasdaq:KNXA), InterDigital Inc. (Nasdaq:IDCC) and US Global Investors Inc. (Nasdaq:GROW) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Eagle Rock Energy Partners L.P (Nasdaq:EROC), Sunrise Senior Living Inc. (Nasdaq:SRZ), Internet Initiative Japan Depository Receipt (Nasdaq:IIJI), WNS Holdings Ltd. (Nasdaq:WNS), MAP Pharmaceuticals Inc. (Nasdaq:MAPP) and MAXXAM Inc. (Nasdaq:MXM).

Here are the biggest percentage losers among small caps:

Bank of Commerce Holdings (Nasdaq:BOCH), Aristotle Corp (Nasdaq:ARTL) and SunLink Health Systems Inc (Nasdaq:SSY) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Internet Initiative Japan Inc (Nasdaq:IIJI), US Global Investors Inc (Nasdaq:GROW) and Johnson Outdoors Inc (Nasdaq:JOUT) are also among the biggest percentage gainers.

OMNI Energy Services Corp (Nasdaq:OMNI), Agria Corp (Nasdaq:GRO) and Converted Organics Inc (Nasdaq:COIN) were additionally included among the results.

Here are the biggest percentage gainers among small caps:

The Russell 2000 (NYSE:IWM) futures have moved up and the small-cap index will probably open higher.

Stocks are poised for a bullish opening following news that investment bank JPMorgan Chase & Co. (NYSE:JPM) may improve its offer for Bear Stearns (NYSE:BSC) to $10 a share from $2 a share. The move is an attempt to appease Bear Stearns’ shareholders, many of whom are angry at the low price.

The Russell 2000 had an "inside session" recovery Thursday, rising 17.29, or 2.60%, to 681.42. The market was able to post a solid advance for the holiday-shortened week despite a sloppy start on Monday, and now needs to hold above 650 this week to help validate any bottoming theories in play.

There is very little solid chart support until we get back down to 667 and 660, but there might be some buying interest on a dip toward 674 if the market starts out soft. On the upside, resistance is at 686, then just below 700. Existing home sales data comes out this  morning at 10:00 a.m. ET and could spark a little volatility.

The Russell 2000 (NYSE: IWM) futures have retreated and the small-cap index will likely open in negative territory.

Investors appear ready to pull back slightly after the major U.S. indices posted major gains on Tuesday. That’s despite news this morning that Morgan Stanley (NYSE: MS) saw a decline in fiscal first-quarter net income but still beat expectations. Investment banks have come into focus following the emergency sale of Bear Stearns (NYSE: BSC).

The Russell 2000 took flight Tuesday, notching the largest one-day gain of the year as investors embraced yet another reduction in benchmark interest rates by the FOMC. The small-cap barometer shot 31.45, or 4.84%, to 681.93. It’s a familiar refrain, as the market has had a tendency to rally on FOMC day – only to falter in the after wash. It should be interesting to see if this rally can grow legs.

There are no noteworthy economic releases or Fed speakers on tap today, which should free up the market to focus on routine fundamentals and to sift through the impact of Tuesday’s surge to see if there is more gas in the tank. The market poked through a little resistance spot late Tuesday at 680, and that is now immediate support. Below there, look for support at 674, then at 667 and 660. Resistance is at 684.50, and 695.

The Russell 2000 (NYSE: IWM) futures are a whisker above the index’s closing level on Friday and small-cap stocks are set for a flat holiday opening.

News of corporate deal-making is grabbing the headlines this morning, as International Business Machines Corp. (NYSE: IBM) announced that it will buy Cognos Inc. (TSE: CSN), a maker of business intelligence software, for $5 billion.

Meanwhile, online broker E*Trade Financial Corp. (Nasdaq: ETFC) was downgraded by Citigroup Inc. (NYSE: C) and the possibility of bankruptcy was raised.

No major economic indicators are scheduled for release today and trading volume promises to be light as Americans observe Veterans Day.

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

Biggest percentage gainers:

• Shengdatech Inc. (SDTH), up 9% on news of a rise in third-quarter profit.
• VASCO Data Security International Inc. (VDSI), up 8% on news it is expanding its product offerings.
• Internet Initiative Japan Inc. (IIJI), up 7% on news of a rise in fiscal second-quarter profit.

Biggest percentage losers:

• Perceptron Inc. (PRCP), down 42%.
• General Communication Inc. (GNCMA) down 8%.
• GPC Biotech AG (GPCB) down 8%.

ShengdaTech, Inc. (Nasdaq: SDTH), Ascent Solar Technologies, Inc. (Nasdaq: ASTI) and GPC Biotech AG (Nasdaq: GPCB) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $750 million: