Tag - Iris

LECG Corporation (Nasdaq:XPRT), Riverbed Technology Inc. (Nasdaq:RVBD) and Elbit Imaging Ltd. (Nasdaq:EMITF) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: IRIS International Inc. (Nasdaq:IRIS), The9 Ltd. (Nasdaq:NCTY), Stratus Properties Inc. (Nasdaq:STRS), Capital Bank Corp.  (Nasdaq:CBKN), Novatel Wireless Inc. (Nasdaq:NVTL) and Rockwood Holdings Inc. (Nasdaq:ROC).

Ulta Salon Cosmetics & Fragrance Inc. (Nasdaq:ULTA), Hansen Medical Inc. (Nasdaq:HNSN) and American Oriental Bioengineering Inc. (Nasdaq:AOB) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Zion Oil and Gas Inc. (Nasdaq:ZN), Chemgenex Pharm Depository Receipt (Nasdaq:CXSP), IRIS International Inc. (Nasdaq:IRIS), HSN Inc. (Nasdaq:HSNI), DineEquity Inc. (Nasdaq:DIN) and Delta Petroleum Corp. (Nasdaq:DPTR).

Polypore International Inc. (Nasdaq:PPO), Iris International Inc. (Nasdaq:IRIS) and Sauer Danfoss Inc. (Nasdaq:SHS) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: OSI Systems Inc. (Nasdaq:OSIS), Natus Medical Inc. (Nasdaq:BABY), RGC Resources Inc. (Nasdaq:RGCO), VNUS Medical Technologies Inc. (Nasdaq:VNUS), Littelfuse Inc. (Nasdaq:LFUS) and Protective Life Corp. (Nasdaq:PL).

Here are the biggest percentage losers among small caps:

Small caps continue to trade in the green midday, though off their highs of the session, after GDP was not as bad as feared. At 12:12 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.35, or 1.29% at 497.24.

Stocks are higher after a rally on Wednesday fizzled in the last minutes of trading. Trading kicked off on a positive note this morning after overseas markets rallied on the Fed rate cut and after today’s GDP report. GDP, a measure of all products and services produced in the U.S., slipped into negative territory, clocking in at minus 0.3%. The reading marked the steepest contraction in seven years and is consistent with recession readings. Despite the gloomy economic implications of the report, GDP wasn’t as bad as feared, as economists forecasted a dip of 0.5% in economic activity.

In other economic news, weekly claims figures came out and were slightly above the forecast, coming in at 479,000 versus expectations for 475,000.

“Economic activity contracted mildly in Q3 with large gains in net exports, inventory investment, and government spending being more than offset by significant weakness in consumer spending, residential investment, and business investment,” Steven Wood, chief economist with Insight Economics, said in an email. “Economic activity was also dampened in September by Hurricanes Gustav and Ike and by the strike at Boeing. However, the full effect of the credit crunch has yet to be felt. While the economy slipped in Q3 it will fall much more sharply in Q4. Our early estimate for Q4 is a decline of 3.5%.”

Consumer spending tumbled 3.1% in the third quarter, marking the first decline in 17 years. This report is yet another piece of economic data that points towards a consumer led recession. The consumer is the growth engine of the economy, as it accounts for two-thirds of economic growth; and with a soft consumer any hopes for economic recovery are short winded.  ...

Small-cap stocks stormed out of the gate with a flourish this morning, as buyers were enamored with yet another rally in overseas markets and happy that a sobering GDP report in the United States wasn’t even worse. Today’s small-cap gainers are LHC Group (Nasdaq:LHCG), Freightcar (Nasdaq:RAIL) and BioMimetic Therapeutics (Nasdaq:BMTI).

Other Market Watch highlights today included:

• Norway also joined in on the rate cut fervor as countries around the world toss cheap money at businesses in a drive to thaw frozen credit lines.  
• Hong Kong shot up some 10% and Taiwan was up 6%, as those countries announced rate cuts following the Fed’s rate cut Thursday.  
• Stock markets around the world were in rally mode overnight, with the world stock index up 2.5%, powered by steep gains in some Asian markets.
• Crude oil futures trimmed overnight gains and were hovering near steady levels on the stock market opening.  
• The energy sector should be a focal point today following Exxon Mobil Corp.’s quarterly earnings figure, which topped the forecast.

Small Cap Gainers:

• LHC Group shares jumped 29% as the home nursing services provider reported a quarterly increase in revenue. See (Nasdaq:LHCG).  
• Freightcar reported robust third-quarter results that crushed analysts’ estimates. Results were owed to cost controls. Shares up 27%. See (Nasdaq:RAIL).  
• BioMimetic Therapeutics reports promising clinical results using injectable bone graft. Shares up over 27%. See (Nasdaq:BMTI).
• Brush Engineered Materials Inc. got an earnings lift this morning, climbing 13%. See (NYSE:BW).  

Small Cap Losers:

• Polypore International beats on Q3 results, guides full year revenues below the Street, EPS straddle consensus. See (NYSE:PPO).  
• Iris International Q3 results miss Street, guides full year below consensus. See (Nasdaq:IRIS).  
• JDS Uniphase Q1 EPS beat Street: $0.11 vs. $0.09. On GAAP basis, narrows loss. (Nasdaq:JDSU).  
• Brocade and Foundry Networks to amend merger terms: Foundry's shareholders to receive $16.50 in cash for each share. See (Nasdaq:FDRY).  

The Russell 2000 (NYSE: IWM) sagged slightly on mixed economic news. The small-cap index fell 0.88 points, or 0.12%, to 716.44. The Dow Jones Industrial Average (INDU) gained 9.36 points, or 0.07%, to 12,694.28.

On a year-to-date basis, the Russell 2000 has declined 6.47%, while the Dow is down 4.30% and the S&P 500 has let go 6.02%.

Small-cap stocks went both up and down today but closed little changed as investors digested a handful of economic data.

The index opened down on news that durable goods fell 5.3% in January, according to the U.S. Census Bureau. Economists were expecting to see a 4% decline following a downwardly revised increase of 4.4% in December.

A separate report showed that new home sales for January also fell more than expected, underscoring the problems in the housing sector.

At around 10:30 a.m. ET, the Russell 2000 moved into the green as U.S. Federal Reserve chairman Ben Bernanke hinted to members of the House Financial Services Committee that the Fed might lower its target federal funds rate when it next meets on March 18.

More good news came when government regulators from the Office of Federal Housing Enterprise Oversight announced they will remove the investment caps of mortgage lenders Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).

But the bulls lost their footing and the small-cap index fell to its lowest level of the session at around 2:30 p.m. ET, before a rebound moved it back up to its starting position.

The Russell 2000 (NYSE: IWM) futures are slightly higher and the index may open in positive territory.

The bulls are reacting to news that Citigroup Inc. (NYSE: C) has received a $7.5 billion injection from the Abu Dhabi Investment Authority. The cash will allow the largest U.S. bank to better deal with losses accumulated through bets on securities backed by subprime mortgages.

On Monday, New York-based Citigroup dragged down financial stocks after announcing that it’s embarking on cost-cutting that may result in the firing of up to 45,000 of its over 300,000 employees.

Investors will have their eyes focused on an index of consumer confidence for the month of November, which is scheduled to be released at 10 a.m. ET. Economists are expecting to see a decline.

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:

• Shamir Optical Industry Ltd. (SHMR), up 10% on news of a rise in third-quarter profit.
• Vanda Pharmaceuticals Inc. (VNDA), up 7% on news the U.S. Food and Drug Administration has accepted the New Drug Application for one of its drugs.
• BigBand Networks Inc. (BBND), up 6% on news more companies are deploying its services.

Biggest percentage losers:

• IRIS International Inc. (IRIS), down 6% on news it will offer up to $125 million in a mix of stock and debt.
• China Fire & Security Group, Inc. (CFSG) down 2%.
• CDC Corp. (CHINA) down 2%.

Investors who want a stake in health care are well advised to consider the world of diagnostic medical devices. Dominated by global multibillion-dollar outfits like Medtronic, Inc. (NYSE: MDT), Stryker Corporation (NYSE: SYK) and Thermo Fisher Scientific, Inc. (NYSE: TMO) and Japan's Sysmex Corp. who pour hundreds of millions into research and development and have a strong hold on distribution channels, the category is a formidable challenge to even the most experienced players.

Chatsworth, Calif.-based IRIS International Inc. (Nasdaq: IRIS), a small, scrappy manufacturer of high-tech in-vitro diagnostic (IVD) imaging systems—blood analysis, urinalysis, oncology and infectious disease diagnostic devices—for major medical institutions, is boosting market share, thanks in part to an aggressive sales push and a pipeline of products with great promise. In the dog-eat-dog health-care sector, where high-profile pharmaceutical and biotech stocks reign supreme, IRIS hasn't gotten much notice, at least not yet.

But the little medical device maker is on the move. IRIS staged an impressive performance in the second quarter ended June 30. Net income rose to $1.8 million, or $0.10 per share, from a net loss of $4.5 million, or $0.25 per share, a year earlier (despite a charge of $5.2 million from the 2006 acquisition of Leucadia Technologies Inc., as well as a $500,000 charge related to the hiring of a new chief financial officer in May). Revenues rose 26% to a record $21 million, from $16.6 million.

The future looks bright, too. IRIS still has three years left in a five-year deal to supply the U.S. Department of Veterans Affairs with urine analyzers for the agency's medical centers and outpatient clinics in several states. IRIS plans to introduce three new products by the end of the year: iChem VELOCITY, a fully automated urine chemistry system to be launched in Europe; the NADIA PSA, a tool for the early detection of prostate cancer, which is expected to receive a Food & Drug Administration go-ahead; and a high-performance centrifuge (for blood/plasma separation), which will target an entirely new market. In addition, IRIS has plans to break into the molecular market with HIV and cancer detection technology, which could be rolled out in 2008.

The following are the most actively traded companies in pre-market trading among those with market capitalizations under $500 million:

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