Tag - Mtz

The construction industry suffered a massive downturn during the latest recession. Part of this huge industry, housing, remains depressed. Recent numbers from February suggest sales of previously owned homes fell by 9.6 percent - not exactly encouraging numbers for homebuilders that are hoping for lower inventory numbers to help boost demand for new homes.

Celera Corp. (Nasdaq:CRA), iRobot Corp. (Nasdaq:IRBT) and NetGear Inc. (Nasdaq:NTGR) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American River Bankshares (Nasdaq:AMRB), Medicinova Inc. (Nasdaq:MNOV), Vasco Data Security International Inc. (Nasdaq:VDSI), MasTec Inc. (Nasdaq:MTZ), Whitney Holding Corp. (Nasdaq:WTNY) and Northeast Community Bancorp Inc. (Nasdaq:NECB).

Lions Gate Entertainment Corp. (Nasdaq:LGF), Zion Oil and Gas Inc. (Nasdaq:ZN) and Daktronics Inc. (Nasdaq:DAKT) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Stewardship Financial Corp. (Nasdaq:SSFN), Hooker Furniture Corp. (Nasdaq:HOFT), MasTec Inc. (Nasdaq:MTZ), Kadant Inc. (Nasdaq:KAI), Meritage Homes Corp. (Nasdaq:MTH) and Syms Corp. (Nasdaq:SYMS).

First Citizens Bancorp  (Nasdaq:FCZA), United Community Bancorp (Nasdaq:UCBA) and SureWest Communications (Nasdaq:SURW) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Cadence Financial Corp. (Nasdaq:CADE), Porter Bancorp Inc. (Nasdaq:PBIB), First Defiance Financial Corp. (Nasdaq:FDEF), VAALCO Energy Inc. (Nasdaq:EGY), First M&F Corp. (Nasdaq:FMFC) and MasTec Inc. (Nasdaq:MTZ).

Cadence Pharmaceuticals Inc (Nasdaq:CADX), Zones Inc (Nasdaq:ZONS) and PharmaNet Development Group Inc (Nasdaq:PDGI) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Famous Daves of America Inc (Nasdaq:DAVE), MasTec Inc (Nasdaq:MTZ), Richardson Electronics (Nasdaq:RELL), LHC Group Inc (Nasdaq:LHCG), iStar Financial (Nasdaq:SFI) and Dawson Geophysical Co (Nasdaq:DWSN).

Here are the biggest percentage gainers among small caps:

MasTec Inc. (NYSE:MTZ) is up 20% today on above-average volume after reporting its second-quarter earnings and raising its full-year outlook after Wednesday’s close. For the quarter ended June 30, net income was $15.7 million, or $0.23 per share, compared with $15.9 million, or $0.24 per share, for the same quarter a year earlier. Revenue was $305 million, compared with $256.3 million for the year-ago period.

“With revenue up 19%, we continue to see the positive effects of the diversification strategy that we laid out last year. Our efforts to grow our business with utilities customers is beginning to pay off as second quarter revenue for these customers doubled over last year. Utilities customers now make up 34% of revenue compared to 20% a year ago. These results were helped by our expansion into the wind and natural gas pipeline sectors, areas where we continue to see significant opportunities for growth,” said Jose R. Mas, president and CEO, in a statement.

The Coral Gables, Fla.-based contractor now expects full-year revenue to be in the range of $1.21 billion and $1.23 billion with earnings per share from continuing operations of $0.88 and $0.92.

At 11:47 a.m. ET, shares are at $14.41, up $2.36 from Wednesday’s close. Trading volume is more than double the average. Shares have ranged from $6.96 to $16.02 during the past year.

The Russell 2000 (NYSE: IWM) closed in the green following news that Warren Buffet has offered to help bond insurers. The small-cap index advanced 5.73 points, or 0.82%, to 705.48. The Dow Jones Industrial Average (INDU) added 133.40 points, or 1.09%, to 12,373.41.

On a year-to-date basis, the Russell 2000 has declined 7.90%, while the Dow has retreated 6.72% and the S&P 500 has lost 8.14%.

The bulls completely dominated trading today as small-cap stocks opened higher and stayed positive throughout the session following news that billionaire investor Warren Buffett has offered to have his company, Berkshire Hathaway, assume responsibility for $800 billion of municipal bonds guaranteed by bond insurers MBIA Inc. (NYSE: MBI), Ambac Financial Group Inc. (NYSE: ABK) and Financial Guaranty Insurance Co.

There have been concerns recently that the three companies could be downgraded due to write-downs from insuring subprime debt. The bond insurers would welcome relief for their entire portfolio, but Buffett is only offering help for their relatively safe municipal bond holdings.

Nevertheless, investors were in a buying mood, which was also bolstered by news that ailing carmaker General Motors Corp. (NYSE: GM) swung to a fourth-quarter net loss that was not as severe as analysts had forecasted.

Also helping the bulls was news after the start of trading that St. Louis Federal Reserve Bank President William Poole thinks the U.S. economy will likely avoid recession.

Small-cap stocks touched their peak of the session at about 2 p.m. ET before easing to their close level.

Here are the day’s biggest percentage gainers and losers, along with top volume leaders, among companies with a market cap between $100 million and $750 million:

MasTec Inc. (NYSE: MTZ), which builds and maintains infrastructure — telephone, Internet, electric, water, sewer and natural gas — as well as providing installation and maintenance services for satellite and cable television services, will get off to a slow start in 2008, according to a research report by investment bank ThinkEquity Partners.

Coral Gables, Fla.-based MasTec is experiencing “still-deliberate” demand from wireless company Verizon Communications Inc. (NYSE: VZ) and has been slow to reduce its legal expenses, according to a research report by Eric Kainer, an analyst with investment bank ThinkEquity Partners.

“We are cautious on 2008 revenues,” Kainer wrote, adding that he is reducing his profit estimates for the fourth-quarter ended Dec. 31, 2007, to $0.15 per share, compared with a previous forecast of $0.16 per share. The revenue forecast has been lowered to $258 million from a previously forecasted $262 million.

The consensus estimate on Wall Street is for net income of $0.15 per share and revenues of $260.7 million, according to a poll of seven analysts by Thomson Financial.

In the fourth quarter of 2006, MasTec had earnings of $0.14 per share on revenue of $241.1 million.

The Russell 2000 (NYSE: IWM) posted a major loss today following news of a record loss at automaker General Motors and more credit fears. The small-cap index fell 25.81 points, or 3.22%, to 775.96. The Dow Jones Industrial Average (INDU) was down 360.92 points, or 2.64%, to 13,300.02.

On a year-to-date basis, the Russell 2000 has fallen 1.46%, while the Dow has added 6.62% and the S&P 500 has gained 4.17%.

The bearish tone was set before the start of trading, when General Motors Corp. (NYSE: GM) announced a stunning third-quarter net loss of $39 billion, or $68.85 per share, compared with a loss of $147 million, or $0.26 per share a year earlier. The Detroit-based automaker explained that its record loss was due to a one-time charge against deferred tax assets.

The small-cap futures were pointing down, and the Russell 2000 and the other major U.S. indices began the day in negative territory, with the sell-off picking up steam during the session.

Investors largely disregarded positive economic news, which came in the form of a surprise jump in productivity. The U.S. Labor Department announced that third-quarter productivity increased 4.9%, the fastest rate of growth in the last four years. Economists were expecting an increase of 2.5% following a downwardly revised rise of 2.2% in the second quarter.

The same report showed that unit labor costs, which are a key measure of inflation, declined 0.2% in the second quarter. That also defied economists, who were forecasting a rise of 0.8%.

Overall, manufacturing activity increased 4.6% in the third quarter, compared with a growth of 2.4% in the second quarter. Manufacturing is about 15% of the U.S. economy.

But Wall Street did not seem impressed.

Nastech Pharmaceutical Co. Inc. (Nasdaq: NSTK), MasTec, Inc. (NYSE: MTZ) and Industrial Services of America, Inc. (Nasdaq: IDSA) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers: