Tag - Inin

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

Also included among the results: Cooper Tire & Rubber Co (Nasdaq:CTB), Ardea Biosciences Inc (Nasdaq:RDEA), Broadpoint Gleacher Securities Group Inc (Nasdaq:BPSG), United States Lime & Minerals Inc (Nasdaq:USLM), Cray Inc (Nasdaq:CRAY) and Books-A-Million Inc (Nasdaq:BAMM).

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).

Software applications provider Interactive Intelligence Inc. (Nasdaq:ININ) has shed 9% in pre-market trading today after posting a decline in its second-quarter earnings after Monday’s close. Revenues for the quarter ended June 30 were $30.6 million, up from $27.1 million for the same period a year earlier. Net income for the Indianapolis-based company was $0.85 million, or $0.04 per share, compared with $2.4 million, or $0.12 per share, for the year-ago quarter.

“We did see a lower dollar amount of orders from existing customers, which we attribute to the current economic slowdown. While we see no change in our long-term market opportunity or in the competitive advantages our solutions offer, we are responding to this tougher sales environment by adjusting our previously planned operating expenses until general market conditions improve,” said Donald Brown, founder and CEO, in a statement.

Ahead of today’s opening, shares are at $7.99, down $0.76 from Monday’s close. The stock has ranged from $6.60 to $30.16 during the past 52 weeks.

Small-cap stocks pushed lower again Monday, unable to sustain a morning bounce fueled by sinking crude oil prices and oversold conditions. A decent recovery bounce in the final hour of trading lifted the market off the lows, but in the end, the Russell 2000 (NYSE:IWM) lost 7.51, or 1.13%, to 658.26, sinking to the lowest daily close since March 17.

Losses were likely magnified by a flight-to-quality away from stocks, with the yield on the benchmark 10-year note tumbling more than 2% at one point during the session to the lowest level since late May and the yield on the long bond was at the lowest point since late April before recovering in line with an afternoon bounce off the lows in stocks.

The inability for stocks to push higher in the face of a steep morning slide in energy prices brought with it a sobering reality: there are more things wrong with the market right now than just high crude oil prices.

Financial shares continue to plumb new lows as the credit crisis remains on the front burner. Overnight, bank stocks in Europe were sold off amid talk of further debt write downs and the need to raise capital to shore up balance sheets. Those worries clearly made it across the pond today as well, with the Financial Select Sector SPDR Fund sinking to six-year lows. The financial “spider” is now off 50% from the May 2007 record peak.

Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) were hammered today, both tumbling more than 14% amid talk that the nation’s largest provider of home mortgages will have to raise more capital to cover hefty losses. Other large-cap financial stocks taking a hit today included Lehman Bros. (NYSE:LEH), off some 7%, Merrill Lynch (NYSE:MER) down nearly 2%, Citigroup (NYSE:C), also . . .

Interactive Intelligence Inc (Nasdaq:ININ), FirstFed Financial Corp (Nasdaq:FED) and Virtusa Corp (Nasdaq:VRTU) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Landmark Bancorp Inc (Nasdaq:LARK), Orthofix International NV (Nasdaq:OFIX), Build-A-Bear Workshop Inc (Nasdaq:BBW), Bankrate Inc (Nasdaq:RATE), CCA Industries Inc (Nasdaq:CAW) and Umpqua Holdings Corp (Nasdaq:UMPQ).

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

Virtusa Corp (Nasdaq:VRTU), Interactive Intelligence Inc (Nasdaq:ININ) and MGIC Investment Corp (Nasdaq:MTG) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Furniture Brands International Inc (Nasdaq:FBN), LIN TV Corp (Nasdaq:TVL), TowneBank (Nasdaq:TOWN), Orthofix International NV (Nasdaq:OFIX), Teche Holdings Company (Nasdaq:TSH) and MainSource Financial Group Inc (Nasdaq:MSFG).

Here are the biggest percentage losers among small caps:

After opening higher, small caps have cascaded into the red midday, despite a continued sell off in crude from its record levels throughout the session and ahead of second-quarter earnings.

At 12:51 p.m. ET, the Russell 2000 (NYSE:IWM) was down 8.35, or 1.25%, at 657.43, while the Dow was down 63.67, or 0.56%, at 11,224.87.

After breaching a new record level of above $145 a barrel ahead of the July 4th weekend, crude oil futures pulled back sharply today. Crude is off $5.12 to approximately $140 a barrel midday. The commodity is still up some 50% for the year.

Oil prices are seeing downward pressure, as tensions in the Middle East are deflating in the minds of oil traders. Iran's foreign minister Manouchehr Mottaki said in an interview with CNN on Sunday that Iran is now assessing western governments with a new point of view. The Iranian foreign minister also suggested Iran might entertain the idea of a compromise with its nuclear program. Also, the country is expected to meet with the European Union's head of foreign policy surrounding the country’s nuclear program.

Oil also sold off as the dollar rallied. The greenback was buoyed by weak output numbers in Germany and the United Kingdom as well as resistance to sell the dollar in the midst of the G-8 leaders open summit meeting today in Japan.

“For the U.S. dollar, it's a question of a global economic race to the bottom between Japan, Europe and the United States,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, wrote in an email. “Whoever hits first and bounces wins.”  

Bottom fishers were prowling the Street earlier in the session, as valuations have been knocked down to the cheapest level since April. However, probable jitters that prelude second-quarter earnings results seemed to have superseded the low valuations that had clouded investors’ actions earlier today. Quarterly earnings results are expected to begin trickling in Tuesday, as Alcoa kicks off the season. Analysts expect this to be the fourth consecutive quarter of negative earnings. Analysts expect . . .

Interactive Intelligence (Nasdaq:ININ) is plunging more than 30% in today’s trading after the company announced ahead of the bell its second-quarter profits would fall below Wall Street estimates. The Indianapolis-based provider of voice over Internet protocol applications said it expects its earnings to be between $0.5 million and $1 million, or $0.03 and $0.05 per share for the quarter ended June 30. Analysts were expecting about $0.17 per share for the second quarter. The company said the weaker-than-expected earnings were the result of lower orders from existing customers. Interactive Intelligence is expected to report its second-quarter earnings on July 28 after the close.  

Shares of Interactive Intelligence have shed 30% to $7.28 on above-average volume in today’s trading. 

Small-cap stocks edged higher this morning, underpinned by a slide in crude oil prices overnight that was extended just before the stock market open. Equities are also oversold following sharp recent declines, which sparked a batch of bottom fishing and profit-taking from the shorts. At 9:51 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.03, or 0.76%, at 670.81.

Crude oil futures were down more than $4 dollars a barrel just below $141 heading into the U.S. stock market open, which was a welcome pullback after hitting a record high last week above $145. Still, energy prices were expected to find buyers on dips as tension in the Middle East remains high and crude oil stocks are tight.

The dip in crude prices was accompanied by a rise in the U.S. dollar, which was up about 0.5% against the euro and about 0.8% versus the yen. The tone surrounding ECB comments after last week’s rate hike also were perceived as less hawkish than expected, which lent support to the greenback. Within the commodity spectrum, copper prices tumbled about 3% in early trading and grains futures were called sharply lower ahead of their opening later this morning.

Although the stock market was starting out the week on an up note, it’s hard to look past sharp recent declines that have pushed the Dow and small caps into bear market territory once again. In a weekend research report, analysts at Goldman Sachs said that activity in financial markets closely resembles a double-dip slowdown in economic activity, and that the fiscal stimulus package helped drive up the market from . . .

The Russell 2000 (NYSE: IWM) and the other major U.S. indices fell today on more financial problems and fears of a consumer slowdown. The small-cap index dropped 15.56 points, or 2.16%, to 704.65. The Dow Jones Industrial Average (INDU) retreated 246.79 points, or 1.92%, to 12,606.30.

On a year-to-date basis, the Russell 2000 has lost 8.01%, while the Dow is off 4.96% and the S&P 500 has shed 4.59%.

The bears were in the driver’s seat today as news of more pain at major financial firms sparked worries that the subprime mortgage mess could take its toll on the American consumer.

Small-cap stocks opened with a drop and never looked up on news that Merrill Lynch & Co., Inc. (NYSE: MER), the world’s largest brokerage house, may incur $15 billion in losses from investments in securities backed by mortgage loans.

Mortgage lenders nationwide frequently packaged loans and sold them as securities to financial companies, and as a result both parties have suffered billions in losses as U.S. home prices started to stagnate in the second half of 2006 and many borrowers defaulted on their loans and went into foreclosure.

Adding to the gloom was New York-based credit card issuer American Express Co. (NYSE: AXP), which announced that it will absorb a fourth-quarter pretax charge of about $440 million due to slower spending by card members and an increase in delinquencies.

The Russell 2000 (NYSE: IWM) is falling on news of worse-than-expected earnings forecasts from major financial players. At 1:26 p.m. ET, the small-cap index had retreated 8.53 points, or 1.18%, to 711.68. The Dow Jones Industrial Average (INDU) was down 207.20 points, or 1.61%, to 12,645.89.

The bears are dominating trading as stocks small and large are losing ground on news that the strain from the problems in the subprime mortgage sector has spread.

Merrill Lynch & Co., Inc. (NYSE: MER), the world’s largest brokerage house, reported before the start of trading that it may incur $15 billion in losses from investments in securities backed by mortgage loans.

That’s more than twice what the New York-based company had initially projected and an indicator that the problems stemming from the stagnation in the U.S. housing market continue to ripple through financial markets.

More bearish news came from luxury jewelry seller Tiffany & Co. (NYSE: TIF), which lowered its guidance for the fiscal year, and credit card issuer American Express Co. (NYSE: AXP), which announced a fourth-quarter pretax charge of about $440 million due to slower spending by card members and an increase in delinquencies.

The American consumer is still spending money, but retail sales have slackened due to high energy costs.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are falling on more news of financial trouble stemming from the subprime meltdown.
 
At 10:33 a.m. ET, the small-cap index had lost 9.64 points, or 1.34%, to 710.57. The Dow Jones Industrial Average (INDU) was off 184.12 points, or 1.43%, to 12,668.97.

Stocks opened in negative territory following news that Merrill Lynch & Co., Inc. (NYSE: MER) may suffer $15 billion in losses from investments in securities backed by mortgage loans.

The loss, which is twice what the New York-based investment bank had initially estimated, is an unpleasant reminder of how shockwaves from the stagnating U.S. housing market continue to ripple through financial markets.

There was more bearish news from the financial sector as credit card issuer American Express Co. (NYSE: AXP), announced that it will absorb a fourth-quarter pretax charge of about $440 million due to slower spending by card members and an increase in delinquencies. The company said that it now expects fourth-quarter earnings below the level a year earlier.

Many mortgage lenders nationwide have taken a hit and even declared bankruptcy as U.S. home prices have stagnated and many borrowers have defaulted on their loans and gone into foreclosure. Lenders frequently packaged loans and sold them as securities to financial companies, which have in turn also incurred billions in losses.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting gains on news of a possible interest rate cut. At 2:46 p.m. ET, the small-cap index had advanced 7.49 points, or 1.05%, to 719.61. The Dow Jones Industrial Average (INDU) was up 135.59 points, or 1.06%, to 12,870.90.

“In light of recent changes in the outlook for and the risks to growth, additional policy easing may well be necessary,” U.S. Federal Reserve chairman Ben Bernanke told an audience at the Women in Housing and Finance and Exchequer Club this afternoon.

Those comments sent stocks rising and fueled speculation that the Fed is considering lowering the federal funds rate. But the bullish mood did not last and within an hour small-cap stocks were back down to their starting level.

Blame the bearish mood on the uncertain economic environment.

The day began with news from U.S. retailers that December sales were weak, suggesting that consumer spending is slowing. That would be a negative development, since consumption is about 70% of gross domestic product.

Economic growth is already being weighed down by the slump in the housing sector and higher energy costs.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices have recovered from a morning dip and are now posting gains. At 1:58 p.m. ET, the small-cap index was up 4.10 points, or 0.57%, to 725.70. The Dow Jones Industrial Average (INDU) had added 8.29 points, or 0.06%, to 12,808.47.

Small-cap stocks are moving up as speculation of an upcoming interest rate cut encourages investors to snap up equities following Friday’s steep declines. The major U.S. indices were trending higher in the morning, with the exception of a brief fall shortly after 10 a.m. ET.

News of a worse-than-expected jobs report on Friday dropped stocks and heightened speculation that the U.S. Federal Reserve will cut interest rates to prevent the economy from slipping into recession. The Fed is scheduled to begin a two-day meeting on Jan. 29.

Economists generally agree that U.S. economic growth was slow in the fourth quarter of 2007, dragged down by the stagnating U.S. housing sector and tighter lending.

Observers will be listening to a speech by the U.S. Treasury secretary at 2 p.m. ET about measures the Bush administration plans on taking to give the economy a boost.

Interactive Intelligence Inc. (Nasdaq: ININ), a provider of software applications for contact centers and VoIP applications to enterprises, reported robust third-quarter results above the Street’s expectations.

For the three-month period ended Sept. 30, the Indianapolis, Ind.-based small cap recorded net income of $3.3 million, or EPS of $0.17, above the mean estimate of $0.12 eight analysts polled by Thomson Financial were on average projecting. Interactive Intelligence posted net income of $2.2 million in 2006, or EPS of $0.12 for the third quarter last year.  

The company booked revenues of $28.7 million, above the $26.9 million eight analysts polled by Thomson Financial were on average forecasting. The current quarter’s revenues represent a 29% increase over revenues of $22.2 million in the third quarter of 2006.

The company had 19 deals greater than $250,000, compared with 14 deals in the second quarter and six in the third quarter of 2006 greater than $250,000.

Product margins, however, were substantially lower for the quarter, due to an increase in hardware-related sales (media servers and interaction servers), while service margins became stable.

Despite lower product margins, Interactive Intelligence said it’s seeing growth in all major geographies. Specifically, the company said it experienced strength in large contact center sales, as well as an increase in the licensing of its VOIP products, such as its gateways and media servers. Interactive further said higher revenues from these areas are driving steady increases in profitability.

Supercomputer maker Cray Inc. (Nasdaq: CRAY) said Monday morning that revenue from its newest supercomputers will be less than 2007 expectations, possibly leading to a loss for the year.

A story on Yahoo! Finance said Answers Corp. (Nasdaq: ANSW) doesn’t look like it is going to be acquired. Google competitors don’t want to purchase Answers because the New York City-based Internet company, which hasn’t achieved profitability, gets most of its traffic through Google, the story said.

Bionovo Inc.’s (Nasdaq: BNVI) second phase trial for its oral drug MF101 showed positive results for treatment of hot flashes associated with menopause.

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

The Russell 2000 index is posting strong gains in midday trading while reports of strong earnings from major players are lifting all indices.  In specific small cap action, news of record revenues lifted shares of Interactive Intelligence, Inc. (Nasdaq: ININ), and TTM Technologies, Inc. (Nasdaq: TTMI) is up after reporting better-than-expected quarterly earnings.

At 2:16 p.m. ET the Russell 2000 had added 12.89 points, or 1.58 percent, to 829.14.  The Dow Jones Industrial Average was up 104.26 points, or 0.79 percent, to 13,240.40, on track for a second consecutive record close.

These are the biggest percentage gainers among companies with market capitalizations under $500 million: