Tag - Lndc

Crosstex Energy Inc. (Nasdaq:XTXI), Landec Corp. (Nasdaq:LNDC) and Atlas Pipeline Holdings L P (Nasdaq:AHD) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Petroleum Development Corp. (Nasdaq:PETD), American Capital Ltd. (Nasdaq:ACAS), Perry Ellis International Inc. (Nasdaq:PERY), Pyramid Oil Co. (Nasdaq:PDO), Ezcorp Inc (Nasdaq:EZPW) and WuXi PharmaTech Cayman Inc. (Nasdaq:WX).

Small-cap stocks went into a tailspin in early trading, pulled down by a gloomy report on the jobs front ahead of Friday’s key employment release. In addition, some big companies announced plans to slash workers or cautioned on the outlook, which sent a chill into a market that started out the year on a decent roll.  Some of today’s small-cap gainers are NetScout Systems, Inc. (Nasdaq:NTCT), Polycom Inc. (Nasdaq:PLCM) and AK Steel (NYSE:AKS).

Other Market Watch highlights today included:

• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.  
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.  
• The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.  
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.

Small Cap Gainers:

• NetScout Systems, Inc. is up 30% to $13.33 after announcing preliminary Q3 results and raising FY2009 guidance Tuesday. (See Nasdaq:NTCT)  
• Video-conferencing products maker Polycom Inc. is up 11% in pre-market trading to $15.40 after issuing upward guidance and announcing job cuts late Tuesday. (See Nasdaq:PLCM)
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)  
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)  

Small Cap Losers:

• Hill-Rom Holdings, Inc. and Texas Capital BancShares Inc. established new 52-week lows in early trading. (See NYSE:HRC, Nasdaq:TCBI)  
• Blyth Inc., which makes home-fragrance products and other household items, is down 11% to $6.19 after a downgrade by Jefferies & Co. (See NYSE:BTH)  
• Polymer products maker Landec Corporation is down 23% to $5.65 after news this morning of a downgrade from Northland Securities. (See Nasdaq:LNDC)

Small-cap stocks went into a tailspin in early trading, pulled down by a gloomy report on the jobs front ahead of Friday’s key employment release. In addition, some big companies announced plans to slash workers or cautioned on the outlook, which sent a chill into a market that started out the year on a decent roll. At 9:59 a.m. ET, the Russell 2000 (NYSE:IWM) was off 9.96, or 1.93% at 504.75.

The big scare this morning came from the ADP National Employment survey, which showed that the private sector lost a stunning 693,000 jobs in December, way above the 476,000 lost in November and also well clear of the forecast for a decline of 480,000. This marked the largest decline since the ADP report was started back in 2001. The methodology for this report was tweaked, which could take some edge off the big decline in jobs, but the market clearly was stressed by the report. The ADP data also will heighten concerns about the employment picture ahead of Friday’s big ...

Shares of Landec Corp. (Nasdaq:LNDC) are rising on news after the close on Wednesday that the maker of specialty polymer products met Wall Street’s third-quarter profit expectations. The Menlo Park, Calif.-based company reported that net income for the three months ended Feb. 24 was $4.0 million, or $0.15 per share, in line with the consensus of six analysts polled by Thomson Financial. Profit was $24.6 million, or $0.92 per share, a year earlier.

At 11:34 a.m. ET, the stock had gained $0.85, or 11%, to $8.69.

Landec Corp. (Nasdaq: LNDC) reported after Thursday’s close that financial results for its second quarter of fiscal year 2008 rose over the previous year. However, revenue missed analysts’ estimates on Wall Street. 

For the three months ended Nov. 25, revenues were $59 million, below the Thomson Financial mean estimate of $61.3 million. Revenues were $55.2 million in the 2007 quarter.

The Menlo Park, Calif.-based company attributed its increase in revenues to a $3.5 million, or 10%, increase in revenues from Apio’s specialty packaging vegetable products and a $940,000, or 130% increase in revenues from the firm’s technology licensing business.

The manufacturer of temperature-activated and polymer products for various food products and agricultural products recorded net income of $3.1 million, or $0.12 per share, compared with net income of $108,000, or $0.00 per share, in the second quarter of 2007. Net income was right in line with the consensus estimate on Wall Street.

Among the items affecting net income included a $1 million increase in licensing gross profit primarily due to an Intellicoat license agreement with Monsanto and the elimination of $3.1 million of operating losses incurred by Landec Ag in the second quarter of fiscal year 2007.

Shares of Landec (LNDC) slipped 7.69$, or $0.97, to $11.65 in pre-market. Shares of Landec have been trading in the range of $9.60 to $16.75 for the past 52 weeks.

The Russell 2000 (NYSE: IWM) futures are falling on news of a worse-than-expected December jobs report and the small-cap index will surely drop.

Nonfarm payroll employment increased a disappointing 18,000 in December, the U.S. Labor Department reported. Job losses in construction and manufacturing offset gains in several service-providing industries.

Economists were expecting to see 70,000 new jobs. However, the payroll gain in November was revised up to 115,000 from an initially reported 94,000.

Nevertheless, the slowdown in job creating is an obvious sign that U.S. economic growth is faltering amid tighter credit and the ongoing slump in the housing market.

The unemployment rate climbed to 5% from the previous level of 4.7%. Economists were forecasting a smaller rise to 4.8%.

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:

• Osiris Therapeutics, Inc. (OSIR), up 27% on news it won a $224.7 million contract from the U.S. Department of Defense.
• Prospect Capital Corp. (PSEC), up 9%.
• NxStage Medical, Inc. (NXTM), up 9%.

Biggest percentage losers:

• Micrel, Inc. (MCRL), down 15% on news it has revised its earnings and revenue outlook for the fourth quarter of fiscal 2007.
• Landec Corp. (LNDC) down 8% on news that fiscal second-quarter revenue missed analysts’ expectations.
• Universal Display Corp. (PANL) down 6%.

Landec Corp. (Nasdaq: LNDC) wants to revolutionize the way crops are farmed and produce is purchased. Its seed coating technology enhances agricultural yields, and its food packaging extends the shelf life of vegetables. Top priority: keeping bananas in shape.  

Two agricultural titans are backing Landec’s two core businesses. Its food products subsidiary Apio, Inc., which uses a special BreatheWay wrap for vegetables, has started a critical alliance with Chiquita Brands International Inc. (NYSE: CQB), the King Kong of bananas. And Landec’s technology licensing/partnering division has garnered an exclusive licensing agreement with Monsanto Company (NYSE: MON), the $38 billion agricultural goliath, for its Intellicoat seed coating technology.

Menlo Park, Calif.-based Landec, with a market cap of $355 million, owns a polymer technology that reacts to temperature. As a seed coating, the Intelimer technology allows corn to be planted three to four weeks earlier than normal; Landec’s technology also is used for soybean double cropping, which is the practice of producing two crops on the same land within the same year. The company in December 2006 sold its seed sales and marketing business to Monsanto for cash and Monsanto’s agreement to provide resources for marketing, sales and technical support of Intelimer technology, while Landec focuses on research and development.

Landec continues to seek new areas to apply its temperature-sensitive technology. It has a deal with Air Products & Chemicals Inc. (NYSE: APD), to use it in personal care items, such as creams and lotions, and in household and industrial cleaners. It also is used in adhesives.

Bin-busting yields aside, bananas are of most immediate importance to the company’s bottom line. Chiquita is selling bananas using Landec’s BreatheWay wrapping—another use of polymer technology. The BreatheWay membrane balances swings in temperatures and regulates moisture to extend shelf life and enhance the quality and appearance of vegetables and fruit.

Metalico, Inc. (AMEX: MEA), Orchids Paper Products Company (AMEX: TIS) and Arrhythmia Research Technology, Inc. (AMEX: HRT) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers: