Tag - Itmn

Sitting atop the Russell 2000 Index was a surprising name at the end of December - biotechnology company InterMune (Nasdaq: ITMN). The stock finished out the month with a 190 percent return. Much of that came in trading on December 17, when the biotech gained an eye-popping 145 percent in a single day, pushing the company's market capitalization past $1.8 billion.

The Russell 2000 (NYSE:IWM) eked out a green close today, but still lagged the Dow and S&P 500. Some of today’s small-cap gainers were InterMune (Nasdaq:ITMN), John B. Sanfilippo & Son (Nasdaq:JBSS) and Central European Distribution Corp. (Nasdaq:CEDC).

Other Market Watch highlights today included:

• The pending home sales report rose 6.3%, better than expected (the forecast was flat) and helped spark a recovery bounce in equities.
• Homebuilder stocks seemed to get a lift from the pending home sales number, with the ISE Homebuilder Index rising 5.2%.
• Motorcycle manufacturers were a top performer today, but the large automakers were in retreat mode as they release sales numbers today.
• Personal products companies, steel stocks, coal firms and general merchandise stores were all doing well today.
• Poor performers were regional banks, diverse financial services firms, consumer finance companies, diversified banks, casinos and REITs.
• For the year, the Russell is down 9.3%, while the Dow is off 7.9% and the S&P 500 is down 7.1%.
• Energy shares outpaced the overall market rise today, helped along by a modest 1.7% advance in crude oil futures, which gained $0.70 a barrel to $40.78.
• Crude prices were underpinned by talk of additional production cuts out of OPEC and some worries about possible refinery worker strikes. 
• On Wed. the market will get an early glimpse at private jobs numbers, . . .

Small-cap stocks pushed higher Tuesday, shaking off losses in the banking and financial sector amid gains for homebuilders, drug and energy shares. The Russell 2000 (NYSE:IWM) closed up 3.28, or 0.73%, at 452.90, but lagged gains in the Dow and S&P 500, which takes some of the edge off the advance. For the year, the Russell is down 9.3%, while the Dow is off 7.9% and the S&P 500 is down 7.1%.

The market started off on a defensive note and continued to chop around on both sides of positive ground until the bulls gained traction in the afternoon. About 30 minutes into the session an upbeat reading on pending home sales and an announcement by the Federal Reserve that they would extend various credit windows helped underpin the market.

For the record, pending home sales came in plus 6.3%, well above the forecast for a flat reading. The upside release helped spark a rise in homebuilder stocks with the ISE Homebuilders Index climbing 8.3%. Several key companies in the homebuilder universe fall within small-cap guidelines, including Meritage Homes Corp. (NYSE:MTH), which jumped 17% on the day. Small-cap builders KB Home (NYSE:KBH) rose 10%, while Centex Corp. (NYSE:CTX) was up 10%.

The other piece of economic data in play today came from various sales reports out of automobile companies. As expected, vehicle sales fell off a cliff again in January, with General Motors Corp. (NYSE:GM) collapsing 49%, Ford Motor Co. (NYSE:F) down some 40%, while Toyota Motor Corp. (now the world’s largest automaker) saw a sales drop of 34% and Nissan tumbled 30%. Despite the sober news on sales, Ford shares actually finished higher on the day (up about 4%), while General Motors was down 3%.

Energy shares outpaced the overall market rise today, helped along by a modest 1.7% advance in crude oil futures, which gained $0.70 a barrel to $40.78. Crude prices were underpinned by talk of additional production cuts out of OPEC and some . . .

InterMune Inc. (Nasdaq:ITMN), DryShips Inc. (Nasdaq:DRYS) and John B  San Filippo & Son (Nasdaq:JBSS) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Intersections Inc. (Nasdaq:INTX), HSN Inc. (Nasdaq:HSNI), M I Homes Inc. (Nasdaq:MHO), Celldex Therapeutics Inc. (Nasdaq:CLDX), Tessera Technologies (Nasdaq:TSRA) and Infinera Corp. (Nasdaq:INFN).

Small-cap stocks opened higher, but stalled quickly as bargain hunters were on the buy side trying to balance a mixed bag of corporate profit reports, worries about the stimulus package progress and valuation levels on the indices that have are seen as attractive in many corners. At 10:04 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.62, or 0.36%, at 447.99.

The pending home sales report rose 6.3%, which was better than expected (the forecast was flat) and helped spark a little recovery bounce in equities. At the same time that the pending home sales report came out, the Federal Reserve said that they would extend liquidity provisions for various lending programs, which also was a supportive element in play. Treasury markets clearly extended morning declines after the pending home sales report, which suggests money flow out of debt markets and potentially into stocks.

Traders also will be watching vehicle sales report out of the major automakers throughout the session, for a glimpse not only of how bad things are on the car front, but also on the overall consumer spending psyche.

Lawmakers are slated to start debate today on the Obama stimulus plan, one that went through the House without any Republican support, but which faces a sterner test in the Senate without getting some Republican converts.

Individual small caps on the move this morning included InterMune Inc. (Nasdaq:ITMN), which gapped higher and jumped 31% as the firm’s lung drug met its trial goal. Sonesta International Hotels Corp. (Nasdaq:SNSTA) jumped 30%, but volume on the move was limited. John B. Sanfilippo & Son Inc. (Nasdaq:JBSS) rose 26% as the nut snack maker got an earnings-related lift. Transdigm Group Inc. (NYSE:TDG) rallied nearly 13% as the aircraft component designer was another firm reporting solid results. On the downside, The Pantry Inc. (Nasdaq:PTRY) fell 13% as the convenience chain store operator was on the negative side of the . . .

InterMune Inc. (Nasdaq:ITMN), Geron Corp. (Nasdaq:GERN) and Iconix Brand Group Inc. (Nasdaq:ICON) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Pantry Inc. (Nasdaq:PTRY), Atheros Communications Inc. (Nasdaq:ATHR), Canadian Solar Inc. (Nasdaq:CSIQ), TBS International Ltd. (Nasdaq:TBSI), Palm Inc. (Nasdaq:PALM) and Indevus Pharmaceuticals Inc. (Nasdaq:IDEV).

Audiovox Corp. (Nasdaq:VOXX), A Power Energy Generation Systems Ltd. (Nasdaq:APWR) and ICT Group Inc. (Nasdaq:ICTG) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN), AEP Industries Inc. (Nasdaq:AEPI), InterMune Inc. (Nasdaq:ITMN), Cooper Companies Inc. (Nasdaq:COO), Telefonica de Argentina (Nasdaq:TAR) and Coleman Cable Inc. (Nasdaq:CCIX).

PharmaNet Development Group Inc. (Nasdaq:PDGI), Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) and Shutterfly, Inc. (Nasdaq:SFLY) are among the most actively traded companies in Thursday's pre-market trading among those with market capitalizations under $750 million.

Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB), CV Therapeutics, Inc. (Nasdaq:CVTX) and InterMune, Inc. (Nasdaq:ITMN) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Thursday's pre-market trading:

The Russell 2000 (NYSE:IWM) jumped today on news of better-than-expected economic data and hopes that the credit crunch is ending. The small-cap index rose 22.67 points, or 3.30%, to 710.64. The Dow Jones Industrial Average climbed 391.47 points, or 3.19%, to 12,654.36.

On a year-to-date basis, the Russell 2000 is down 7.23%, while the Dow has shed 4.61% and the S&P 500 is off 6.69%.

Stocks opened in the green and the bulls completely dominated the session on news before the opening that UBS AG (NYSE:UBS) will issue up to $15 billion in new stock and receive help from other banks in order to deal with $19 billion in writedowns stemming from the subprime mortgage mess.

Separately, Lehman Brothers Holdings Inc. (NYSE:LEH) announced before the opening that it will raise a higher-than-expected $4 billion in preferred stock.

Investors took the actions as a sign that the credit crunch is easing.

Among the winners today was small-cap Team Inc. (Nasdaq:TISI), which provides maintenance and construction services for high-temperature piping systems. The Alvin, Texas-based company reported . . .

Shares of InterMune Inc. (Nasdaq:ITMN) are higher on news before the opening that a Phase I trial of a drug for the treatment of hepatitis C was successful. The Brisbane, Calif.-based company reported that a trial showed the drug candidate ITMN-191 reduced infection levels and was safe.

At 3:49 p.m. ET, the stock had added $2.57, or 18%, to $17.15.

InterMune, Inc. (Nasdaq:ITMN), CompuCredit Corp. (Nasdaq:CCRT) and Macrovision Corp. (Nasdaq:MVSN) are among the most actively traded companies in Tuesday's pre-market trading among those with market capitalizations under $750 million.

The Pantry, Inc. (Nasdaq:PTRY), CollaGenex Pharmaceutical, Inc. (Nasdaq:CGPI) and Centennial Communications Corp. (Nasdaq:CYCL) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Tuesday's pre-market trading:

The Russell 2000 (NYSE:IWM) futures are rising and the small-cap index will open in the green despite news of bank writedowns.

Stocks small and large are poised for a bullish opening on news this morning that Swiss banking giant UBS AG (NYSE:UBS) has announced more writedowns stemming from the subprime mortgage mess.

However, investors are taking that as a good sign because the bank will receive help from four others, an indication that it will get through the current rough patch.

The Russell 2000 generated a modest rally in Monday’s quarter-ending session, finishing the month at a higher level than where it began for the first time since October. For the day, the Russell gained 4.79, or 0.70%, to 687.97.

In this morning’s trading, support comes in at 681, then at 674 and 667. Meanwhile, resistance is at 695, 705 and 714. The ISM Manufacturing Survey at 10:00 a.m. ET could spark some volatility, while vehicle sales will be reported throughout the session.

The Russell 2000 (NYSE: IWM) posted a gain for the first time in 2008 as most of the major U.S. indices ended a turbulent session in positive territory. The small-cap index climbed 2.35 points, or 0.33%, to 723.95. The Dow Jones Industrial Average (INDU) advanced 27.31 points, or 0.21%, to 12,827.49.

On a year-to-date basis, the Russell 2000 has lost 5.49%, while the Dow is down 3.30% and the S&P 500 has retreated 3.55%.

Small-cap stocks went on a rollercoaster ride that ended with a late-session rally that pushed the index into the green. Equities started the day higher, then fell abruptly after about 30 minutes and bounced around for the remainder of trading.

With no major news releases scheduled for today, investors turned their attention to future policy actions aimed at improving the U.S. economy and preventing a recession.

“The housing downturn and credit disruption will weigh on our economy and impose a penalty on our economic growth,” Treasury secretary Henry Paulson said in a speech to the New York Society of Securities Analysts this afternoon. “We will likely have further indications of slower growth in the weeks and months ahead.”

However, Paulson did not mention any new measures the Bush administration is planning to keep the economy moving forward and reiterated his belief that there will be no recession.

“While growth looks to have slowed considerably in the last part of 2007, our economy remains resilient and I expect it to continue to grow,” he said.

Also addressing the economy was President Bush, who called on the U.S. Congress to make some of his income tax cuts permanent and urged the passing of a number of housing-related proposals.

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.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are falling despite initial speculation of an interest rate cut.
 
At 10:53 a.m. ET, the small-cap index was down 3.06 points, or 0.42%, to 718.54. The Dow Jones Industrial Average (INDU) had lost 24.31 points, or 0.19%, to 12,775.87.

Stocks began the day on a bullish note as investors speculated that the U.S. Federal Reserve will cut interest rates to prevent the economy from slipping into recession. The Fed is scheduled to kick-off a two-day meeting on Jan. 29. At its previous meeting on Dec. 11, it lowered the federal funds rate to 4.25% from 4.50%.

The federal funds rate is the rate at which commercial banks make overnight loans to each other.

But the sentiment did not last long, and shortly after 10 a.m. ET, equities were in negative territory.