Tag - Mnro

East West Bancorp Inc. (Nasdaq:EWBC), Dress Barn Inc. (Nasdaq:DBRN) and Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Monro Muffler Brake Inc. (Nasdaq:MNRO), JDA Software Group Inc. (Nasdaq:JDAS), AgFeed Industries Inc. (Nasdaq:FEED), Mercury Computer Systems Inc. (Nasdaq:MRCY), Century Aluminum Co. (Nasdaq:CENX) and Orexigen Therapeutics Inc. (Nasdaq:OREX).

Medarex Inc. (Nasdaq:MEDX), Smith & Wesson Holding Corp. (Nasdaq:SWHC) and A Power Energy Generation Systems Ltd. (Nasdaq:APWR) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Spectrum Pharmaceuticals Inc.(Nasdaq:SPPI), Century Aluminum Co. (Nasdaq:CENX), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF), Matrixx Initiatives (Nasdaq:MTXX), Focus Media Holding Ltd. (Nasdaq:FMCN) and Monro Muffler Brake Inc. (Nasdaq:MNRO).

AsiaInfo Holdings Inc. (Nasdaq:ASIA), ImmunoGen Inc. (Nasdaq:IMGN) and Monro Muffler Brake Inc. (Nasdaq:MNRO) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Neutral Tandem Inc. (Nasdaq:TNDM), Hot Topic, Inc. (Nasdaq:HOTT), Kirklands Inc. (Nasdaq:KIRK), SXC Health Solutions Corp. (Nasdaq:SXCI), America Service Group Inc. (Nasdaq:ASGR) and Santa Monica Media Corp. (Nasdaq:MEJ).

hhgregg Inc. (Nasdaq:HGG), Theravance Inc. (Nasdaq:THRX) and Hot Topic, Inc. (Nasdaq:HOTT) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Optimer Pharmaceuticals Inc. (Nasdaq:OPTR), American Italian Pasta Co. (Nasdaq:AIPC), ArcSight Inc. (Nasdaq:ARST), Monro Muffler Brake Inc. (Nasdaq:MNRO), Neutral Tandem Inc. (Nasdaq:TNDM) and Ocwen Financial Corp. (Nasdaq:OCN).

Monroe Muffler Brake Inc. (Nasdaq:MNRO) and Capitol Acquisition Corp. (Nasdaq:CLA) are the new 52-week highs among Friday's session.

Gas prices are at record highs, no one can get any credit, and the housing market has collapsed, taking with it some of the most venerable names on Wall Street and anyone’s desire to go out and buy a new Escalade. That’s grim news for those in the business of selling new cars, but great news for companies such as Monro Muffler Brake (Nasdaq:MNRO), which are in the business of keeping the old ones in good repair.

Monro Muffler Brake, headquartered in Rochester, N.Y., provides automotive undercar repair and tire services in the United States. It operates over 700 company-owned stores in 17 primarily northeastern states under the brands Monro Muffler Brake and Service, Mr. Tire and Tread Quarters Discount Tire. Along with its two main competitors, Midas and Pep Boys, Monro is part of the $158 billion “Do-It-For-Me” (DIFM) U.S. automotive aftermarket industry. These companies provide brake, tire, exhaust and other maintenance services to the 77.5% of us who would rather not spend Saturday afternoons replacing our oil filters and rotating our tires.

The DIFM segment has shown an average annual growth rate of 3% from 1996 to 2006, but is poised to get a big boost from the dramatic negative forces at play in the U.S. economy. Families that can’t afford to buy groceries or pay mortgages are disinclined to go car shopping. The inevitable result is an increasing number of aging cars on the road with high mileage and a need for maintenance and parts. Auto sales are at a 16-year low and 56% of all U.S. cars on the road today are at least eight years old. Add the increasing complexity of vehicles, which discourages the DIY crowd, and you have a real opportunity for an automotive service provider . . .

Cirrus Logic Inc (Nasdaq:CRUS), Vital Signs Inc (Nasdaq:VITL) and GSI Commerce  (Nasdaq:GSIC) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Penson Worldwide Inc (Nasdaq:PNSN), Vasco Data Security International Inc (Nasdaq:VDSI), Monro Muffler Brake Inc (Nasdaq:MNRO), Digi International Inc (Nasdaq:DGII), Sonesta International Hotels Corp (Nasdaq:SNSTA) and Greene County Bancorp (Nasdaq:GCBC).

Here are the biggest percentage gainers among small caps:

Auto-repair retailer Monro Muffler Brake Inc. (Nasdaq:MNRO) is 17% higher today after reporting better-than-expected first-quarter earnings ahead of the opening. For the quarter ended June 28, revenues were $120.4 million compared with $107.6 million for the same period a year ago. Net income was $7.8 million, or $0.39 per share, compared with $8.2 million, or $0.36 a share, for the year-ago quarter. Wall Street was expecting earnings per share of $0.38 on revenues of $114.2 million.

“Our reputation as a trusted service provider has enabled us to raise our prices in order to partially offset higher raw materials costs while maintaining strong relationships with our customers,” said Robert G. Gross, chairman and CEO, in a statement.

In today’s trading, shares of Rochester, N.Y.-based Monro are at $18.93 on thin volume, up $2.78 from Wednesday’s close.

Small-cap stocks opened lower, pulled down when a fresh batch of economic reports failed to generate any upside surprises. The decline was short-lived, though, as prices pushed slightly into the green within 15 minutes of the opening. A small tug of war between those disappointed by the morning reports and those upbeat by an overnight drop in crude oil and rising retailer shares seemed to be underway. At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was up 0.67, or 0.09%, at 739.12.

Economic data on weekly claims and GDP came out before the opening today and while neither report was strikingly bad, they also didn’t carry any bullish news to sustain a mild overnight rise in stocks. The weekly claims report attracted the most attention because the number came in above the forecast at 372,000 versus 370,000 claims, and last week’s figure was revised upward by 3,000 to 368,000. The GDP report hit the median forecast for a rise to 0.9%, but didn’t carry the same kind of power it did last month when a mild rise in GDP was cause for celebration for stocks.

“The bottom line is that economic growth remained very weak at the beginning of the year. These data are ancient history, as Q2 is nearly two-thirds over. Data released so far for April and May suggest that Q2 growth will also be very soft and perhaps even negative. There is still a definite risk for an outright contraction in Q2,” Steven Wood, chief economist with Insight Economics, said in an email.

As for the weekly claims report, Wood said that the four-week moving average is settling in near 370,000, up about 45,000 than the average last year. He said that continuing claims, which are inversely related to job creation, jumped this week and have been rising steadily for almost two years, which suggests that hiring has weakened. The claims data take on a little extra punch this week because next Friday serves up the monthly employment report, and today’s data indicates another . . .

Monro Muffler Brake, Inc. (Nasdaq: MNRO) CEO Robert Gross said the company will be pushing its sales programs hard during the spring, “which is traditionally a high sales season.” Gross made the comments during a midday conference call.

Because of the challenging economy and weak consumer spending, the chief executive said Monro, a provider of automotive repair and tire services, is “cautious” about its outlook for the remainder of 2008. He balanced his remarks with positive notes about Monro’s January results.

“For the first three weeks of January, we had a total comparable stores sales increase of approximately 2.5%,” Gross said.

Due to weakness in consumer confidence and spending, Gross said Monro expects a comparable store sales increase during the fourth quarter of between 1% and 3%. Because Monro’s 2008 fourth quarter has one less week than in 2007, the chief executive said he expects comparable store sales as reported to actually be a decrease in the range of 3% to 5%. The loss of the selling week during the quarter will mean an earnings loss of about $0.05 per share, Gross said.

For the full fiscal year, Gross said Monro predicts revenue in the range of $440 million to $442 million, compared to $417.2 million in fiscal 2007. Analysts predict revenue of $438.4 million.

The CEO said the firm expects earnings in the range of $1.03 to $1.05 per share, compared with $0.97 per share during year-ago period. Wall Street analysts project earnings of $1.02 per share. The earnings estimate includes $0.03 in non-cash charges related to executive contracts, Gross said.

Monro Muffler Brake, Inc. (Nasdaq: MNRO) shares are edging up after the automotive chain store operator reported second-quarter net income of $6.5 million, or $0.29 per share, slightly above analyst estimates of $0.28 per share and compared with $5.6 million, or $0.25 per share, a year earlier.

“While I am not satisfied with our second-quarter performance, our results were impacted by a challenging economy and weak consumer confidence which had the effect of delaying big ticket purchases,” CEO Robert Gross said in a statement. “We continue to reap the benefits of our low-cost operating model and our two-store format, both of which enable us to provide our loyal customers with products and services across a breadth of categories.”

The company acknowledged that last year’s second quarter included a one-time impairment expense of $1.7 million, or $0.08 per share, related to the Monro Muffler Brake’s Strauss Discount Auto equity investment.

The Rochester, N.Y.-based firm’s quarterly sales rose 4.4% to $112 million, slightly below analyst expectations of $112.8 million and compared with $107.2 million during the same period of 2006.

Going forward, the chain store operator said it expects third-quarter earnings in the range of $0.25 to $0.27 per share, in line with Wall Street projections of $0.25 per share. The company expects fiscal year sales in the range of $440 million to $445 million, compared to analyst estimates of $443.5 million.

In afternoon trading, MNRO shares are up 0.40%, or $0.09, at $22.85. Over the last 52 weeks, shares have ranged from $21.08 to $26.14.

BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX), Spherion Corp. (NYSE: SFN) and Hudson Highland Group, Inc. (Nasdaq: HHGP) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

Shares of Monro Muffler Brake, Inc. (Nasdaq: MNRO) are teetering ahead of the opening after the provider of automotive undercar repair and tire services reduced its guidance for its fiscal second quarter.

For the second quarter, the Rochester, N.Y.-based company now expects earnings per share to be in the range of $0.41 to $0.43, compared with the company's previous expected range of $0.53 to $0.56 per share. For the second quarter of 2007, Monro recorded earnings of $0.37 per share. Five analysts polled by Thomson Finanical are anticipating earnings of $0.54 per share.

The revised guidance includes the effects of the recently announced Craven and Valley Forge acquisitions, which are performing in line with expectations.

Monro expects 1% comparable store sales growth for the second quarter of fiscal 2008. For the full year, the company has revised its expected range for comparable store sales growth to 2% to 4%, compared with a previously expected range of 3% to 5%.

Shares of Monro slid $2.39, or 6.38%, to $35.10 ahead of the bell.