Tag - Mgam

ClickSoftware Technologies Ltd. (Nasdaq:CKSW), NeurogesX Inc. (Nasdaq:NGSX) and Clearwater Paper Corp. (Nasdaq:CLW) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: JMP Group Inc. (Nasdaq:JMP), Health Fitness Corp. (Nasdaq:FIT), Aruba Networks Inc. (Nasdaq:ARUN), Multimedia Games Inc. (Nasdaq:MGAM), Bridgepoint Education Inc. (Nasdaq:BPI) and Rentrak Corp. (Nasdaq:RENT).

Multimedia Games, Inc. (Nasdaq: MGAM), supplier of online gaming systems, this morning reported fourth-quarter earnings above the consensus on Wall Street, while revenues missed estimates and declined year-over-year.

For the three months ended Sept. 30, the Austin, Texas-based firm recorded net income of approximately $1.4 million, or $0.05 per diluted share, above the $0.01 per share four analysts polled by Thomson Financial were on average forecasting. For the fourth quarter last year, the firm recorded net income of approximately $0.1 million, or break-even per share results.

Net income for the current quarter includes non-recurring items that, in aggregate, positively impacted income taxes by $0.8 million, or $0.03 per diluted share.

The small cap booked revenues of $31.2 million, down slightly from the $32.5 million earned in the fourth quarter of 2006, and below the consensus of three analysts polled by Thomson of $32.88 million.

Shares of Multimedia Games (MGAM) were halted in pre-market trading.

If the names Richard Petty, Dale Earnhardt and Jeff Gordon ring a bell, then so should the name Dover Downs, the site of Dover International Raceway (or the “Monster Mile”) a long-time fixture on the NASCAR circuit. To race fans, Dover is synonymous with racing. 

But Dover is more than a racing – much more. In fact, two companies stand where there was once one: Dover Motorsports (NYSE: DVD) and Dover Downs Gaming & Entertainment (NYSE: DDE). For investing fans, the latter holds the greater intrigue. 

Dover Downs Gaming ($247 million in annual revenue) consists of Dover Downs Slots – a 97,000 square-foot video lottery (slots) casino complex; the Dover Downs Hotel – an admixture of luxury accommodations,  conference hall, banquet, fine dining, ballrooms and concert hall facilities; and Dover Downs Raceway – a harness racing track with parimutuel wagering on live and simulcast horse races.  

An appropriate description of Dover Downs is that it's not too hot (Las Vegas) and it's not too cold (Deadwood, South Dakota).  It splits the market, though tacking more toward a luxurious Vegas flare. Most of its customers are drawn from the densely populated Mid-Atlantic states.  Philadelphia, Baltimore and Washington, D.C. are all located within a two-hour drive. 

Besides benefiting from a favorable geographic, Dover Downs also benefits from favorable legislative diktats. Only three existing horse racing facilities in Delaware are permitted a gaming license, while slot-machine operations are verboten in Maryland, Virginia and Washington, D.C.

The Russell 2000 (NYSE: IWN) is spinning its wheels while the other major U.S. indices have moved up.  At 2:51 p.m. ET the Russell 2000 was down 0.29 points, or 0.03%, to 837.19. The Dow Jones Industrial Average had added 39.59 points, or 0.29%, to 13,541.29.

Shares of Tercica, Inc. (Nasdaq: TRCA) are in positive territory following news that the biopharmaceutical company has signed a deal with industry giant Genentech Inc. (NYSE: DNA) to develop children’s growth failure drugs.  Tercica is developing an injectable treatment that combines its drug Increlex with Genentech’s growth hormone Nutropin for kids, the Brisbane, Calif.-based firm said after Tuesday’s close.  Tersica will receive up to $53 million from Genentech.  Shares are up $0.64, or 12%, to $6.06.

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