Tag - Nktr

ICT Group Inc. (Nasdaq:ICTG), Novavax Inc. (Nasdaq:NVAX) and Books-A-Million Inc. (Nasdaq:BAMM) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Bon-Ton Stores Inc. (Nasdaq:BONT), Sinovac Biotech Ltd. (Nasdaq:SVA), FirstCity Financial Corp. (Nasdaq:FCFC), Atlantic Tele-Network Inc. (Nasdaq:ATNI), American Realty Investors Inc. (Nasdaq:ARL) and Nektar Therapeutics (Nasdaq:NKTR).

Nektar Therapeutics (Nasdaq:NKTR), CNB Financial Corp. (Nasdaq:CCNE) and Blue Coat Systems Inc. (Nasdaq:BCSI) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Kentucky First Federal Bancorp (Nasdaq:KFFB), DSP Group Inc. (Nasdaq:DSPG), Biocryst Pharmaceuticals Inc. (Nasdaq:BCRX), ClickSoftware Technologies Ltd. (Nasdaq:CKSW), Cooper Tire & Rubber Co. (Nasdaq:CTB) and ShoreTel Inc. (Nasdaq:SHOR).

Fuqi International Inc. (Nasdaq:FUQI), Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) and Nektar Therapeutics (Nasdaq:NKTR) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Century Aluminum Co. (Nasdaq:CENX), Smithtown Bancorp Inc. (Nasdaq:SMTB), Middleby Corp. (Nasdaq:MIDD), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Geron Corp. (Nasdaq:GERN) and Enzon Pharmaceuticals Inc. (Nasdaq:ENZN).

Nektar Therapeutics (Nasdaq:NKTR), RXi Pharmaceuticals Corp. (Nasdaq:RXII) and Insight Enterprises Inc. (Nasdaq:NSIT) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Buckeye Technologies Inc. (Nasdaq:BKI), Interval Leisure Group Inc. (Nasdaq:IILG), Safe Bulkers Inc. (Nasdaq:SB), TRW Automotive  (Nasdaq:TRW), American Apparel Inc. (Nasdaq:APP) and Rockwood Holdings Inc .(Nasdaq:ROC).

Small-cap stocks extended the morning free fall, with financial, retail and commodity sectors all taking a beating as investors recoiled from a batch of brutal manufacturing data from around the world and fretted about the true eventual returns from this holiday spending season. Today's small-cap gainers are Premiere Global Services (NYSE:PGI), Emrise Corp. (NYSE:ERI) and VAALCO Energy (NYSE:EGY).

Today's Market Watch highlights included:

• Retail stocks were down today, with the S&P Retail Index at -5.7% despite early press reports that Black Friday was a success.  
• The Commodity Research Bureau Index of 19 physical markets was down 3.2% at midday.  
• The dollar was firm against the euro, which further played into the collapse in commodity markets.  
• Crude oil prices were down some 8% so far today, with U.S. crude benchmark values slipping through the $50 support line.

Small Cap Gainers:

• Shares of Premiere Global Services are up 30% after Oppenheimer & Co. upgraded the company to "outperform" from "perform." See (NYSE:PGI).  
• Emrise Corp. up 12% after receiving $1 million in new orders for in-flight entertainment products. See (NYSE:ERI).  
• VAALCO Energy up 11% on heavy volume. See (NYSE:EGY).  
• Nektar Therapeutics up about 10% on lower-than-average volume. See (Nasdaq:NKTR).

Small Cap Losers:

• China Valves Technology Inc. collapsed 79% on the China manufacturing woes, but it should be noted that this stock rarely trades much anyhow and was down on less than 1,000 shares trading today. See (Nasdaq:CVVT).  
• Russian steelmakers Mechel, TMK request a total of $3 billion in state loans to refinance their foreign debt. MTL is down 28.5%. See (NYSE:MTL).
• Excel Maritime Carriers dives 27% today following a downgrade last week from Cantor Fitzgerald to "sell" from "hold." See (NYSE:EXM).
• Gulf Island Fabrication Inc. tumbled 23% as the offshore drilling platform specialist was caught in the undertow of the slide in energy values. See (Nasdaq:GIFI).  
• Talbot's falls another 22% today following a widened Q3 net loss, conference call last week. See (NYSE:TLB).  

The Russell 2000 (NYSE:IWM) jumped as investors reacted to news of a tech sector upgrade and a bullish earnings forecast from Wal-Mart Stores, Inc. (NYSE:WMT). The small-cap index rose 9.04 points, or 1.29%, to 707.42, snapping a three-day losing streak. The Dow Jones Industrial Average added 54.72 points, or 0.44%, to 12,581.98.

On a year-to-date basis, the Russell 2000 has let go 7.65%, while the Dow has declined 5.15% and the S&P 500 is missing 7.34%.

Small-cap stocks began the session with a brief dip into the red but quickly recovered as investors digested news before the opening that Wal-Mart raised its earnings estimate for the first quarter of fiscal 2009, partially due to strong sales of electronics.

The index moved into positive territory shortly before 10 a.m. ET and maintained those gains until the closing, reaching a session high of 710 just before 2 p.m. ET.

Also helping the bulls establish their dominance was news before the start of trading that the semiconductor sector has been upgraded by Banc of America Securities. The sector includes small-caps EMCORE Corp. (Nasdaq:EMKR) and San Jose, Calif.-based . . .

NGP Capital Resources Co. (Nasdaq:NGPC), EMCORE Corp. (Nasdaq:EMKR) and Nektar Therapeutics (Nasdaq:NKTR) are among the most actively traded companies in Thursday's pre-market trading among those with market capitalizations under $750 million.

Apogee Enterprises, Inc. (Nasdaq:APOG), Cal-Maine Foods, Inc. (Nasdaq:CALM) and SiRF Technology Holdings Inc. (Nasdaq:SIRF) 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) fell hard as investors worried about corporate earnings and reacted to news of record high oil prices. The small-cap index dropped 13.54 points, or 1.90%, to 698.38. The Dow Jones Industrial Average let go 49.18 points, or 0.39%, to 12,527.26.

On a year-to-date basis, the Russell 2000 has declined 8.83%, while the Dow has retreated 5.56% and the S&P 500 is down 7.75%.

Small-cap stocks suffered more than their bigger brothers today as fears that the sagging economy will weaken corporate earnings led to a sell-off. United Parcel Service, Inc. (NYSE:UPS) reported after the close on Tuesday it lowered its first-quarter profit forecast. The Atlanta, Ga.-based company is considered a bellwether because its performance is closely related to the sales of other businesses.

More bearish news came after the start of trading following news reports that investment bank Merrill Lynch & Co., Inc. (NYSE:MER) will likely post a first-quarter loss due to its exposure to subprime loans and commercial real-estate debt.

In economic news, the price of oil briefly touched a record high of $112.21 a barrel on news after the opening that inventories unexpectedly fell . . .

Nektar Therapeutics (Nasdaq:NKTR), The Pantry, Inc. (Nasdaq:PTRY) and AMAG Pharmaceuticals, Inc. (Nasdaq:AMAG) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $750 million.

The PMI Group, Inc. (NYSE:PMI), Gladstone Capital Corp. (Nasdaq:GLAD) and Radian Group Inc. (NYSE:RDN) are also among the top small-cap percentage losers.

Here are Wednesday's biggest percentage losers among small caps:

Shares of Nektar Therapeutics (Nasdaq:NKTR) are falling on news before the opening that its inhaled insulin product appears to increase the risk of cancer. The San Carlos, Calif.-based company reported that clinical trials conducted by Pfizer Inc. (NYSE:PFE) showed an increase in the number of new cases of lung cancer observed in inhaled insulin patients when compared with a control group.

“The concern over this new data analysis from ongoing clinical trials has resulted in the termination of all negotiations with potential partners,” said CEO Howard Robin in a statement.

At 10:50 a.m. ET, the stock had declined $1.66, or 23%, to $5.53.

The Russell 2000 (NYSE:IWM) is falling despite news that Citigroup Inc. (NYSE:C) may be near a deal to improve its balance sheet.

At 10:09 a.m. ET, the small-cap index was down 2.95 points, or 0.41%, to 708.97. The Dow Jones Industrial Average had lost 14.49 points, or 0.12%, to 12,561.95.

Citigroup is near a deal to sell approximately $12 billion of leveraged loans and bonds to a group of private equity firms, according to news reports before the start of trading. A potential sale will improve its balance sheet.

The Russell 2000 (NYSE:IWM) futures are higher and the small-cap index will likely open in the green.

Small-cap stocks are poised for a bullish opening on news that Citigroup Inc. (NYSE:C) is near a deal to sell approximately $12 billion of leveraged loans and bonds to a group of private equity firms, according to news reports. A potential sale will help the bank improve its balance sheet.

Small-cap stocks had another lackluster, range-bound session Tuesday and remain in a holding pattern waiting for a breakout move. In the end, the Russell 2000 closed down 0.76, or 0.11%, at 711.92.

Look for support today at 705.50, 700 and 694, while resistance should be seen at 717, 725 and 731.

The market could face yet another sluggish session today, with very little on the economic calendar. The 10:00 a.m. ET Wholesale Inventory report typically doesn’t move stocks. Fed Chair Bernanke is making an appearance at 9:30 a.m. ET, but is only giving opening remarks at a Jumpstart Coalition meeting, and probably won’t jolt the markets.

The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open with a drop on weak economic news.

The U.S. Commerce Department did not change its initial estimate for fourth-quarter economic growth, reaffirming its preliminary projection for a 0.6% annual rate. The economy grew 4.9% during the third quarter.

More worrying than the preliminary GDP number, today’s estimate revised upward inflation gauges.

Separately, the U.S. Labor Department said that jobless claims for the week ended Feb. 23 increased.

The Russell 2000 was basically flat at the close Wednesday, after stalling near Tuesday’s highs, leaving yet another double-top formation on daily studies. The index finished at 716.44, down 0.88 point, or 0.12%, and traded in a relatively tame range given the potential volatility that could have flared up around Federal Reserve Chairman Ben Bernanke’s testimony.

Bernanke's back on the docket today at 10:00 a.m. ET, testifying on the economy before the Senate Banking Committee. Although much of the tilt may be a repeat of Wednesday’s Congressional presentation, there could be fresh bits that filter through and have an impact on stocks. Look for resistance Thursday at 723.50 and 731, while support looms down at 712, 704 and 694.

Small-cap stocks jumped nearly 3% today, propelled by surprise earnings from Wal-Mart and an easing of credit fears. The Russell 2000 (NYSE: IWM) added 22.06 points, or 2.88%, to 789.15, snapping a two-day losing streak. The Dow Jones Industrial Average (INDU) gained 319.54 points, or 2.46%, to 13,307.09, its first rise in four sessions.

On a year-to-date basis, the Russell 2000 has advanced 0.22%, while the Dow has risen 6.67% and the S&P 500 has added 4.55%.

Trading got off to a bullish start this morning on news that Wal-Mart Stores Inc. (NYSE: WMT) saw a 7.9% increase in third-quarter profit at its U.S. stores, while revenue rose 8.9%.

The result pleasantly surprised analysts and eased fears that the U.S. consumer was cutting back on spending. Americans do about 10% of their shopping at the Bentonville, Ark.-based retailer, which began offering discounts two weeks earlier than last year to lure customers.

Stocks were gaining momentum, with the Russell 2000 adding more than 1% within the first 30 minutes of trading.

The bears had no chance, even after Bank of America Corp. (NYSE: BAC) said that it projects a fourth-quarter pre-tax charge of $3 billion due to its purchase of collateralized debt obligations that have plummeted in value because of the stagnating U.S. housing market. Collateralized debt obligations are loans—such as mortgages—that are pooled together and sold to institutional investors as a package.

The Russell 2000 (NYSE: IWM) futures are pointing up and the small-cap index could open higher on news of a profit rise at Wal-Mart.

The bulls are ready this morning following news that Wal-Mart Stores Inc. (NYSE: WMT) reported a 7.9% increase in third-quarter profit at its U.S. stores. The Bentonville, Ark.-based company, the world’s largest retailer, also reported that revenue rose 8.9%, outpacing Wall Street’s projections.

Wal-Mart also improved its fiscal 2008 earnings guidance.

Elsewhere, shares of Apple Inc. (Nasdaq: AAPL) are climbing on news the company is in talks with handset operator China Mobile to introduce its iPhone to the Chinese market. The iPhone was recently introduced in Europe but has yet to make its Asian debut.

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:

• Nektar Therapeutics (NKTR), up 19% on news it has resolved contractual issues with Pfizer Inc. (PFE).
• US BioEnergy Corp. (USBE), up 12% on news of a rise in third-quarter earnings.
• Tecumseh Products Company (TECUA), up 11%.

Biggest percentage losers:

• James River Coal Co. (JRCC), down 5%.
• JDA Software Group Inc. (JDAS) down 4% on news it has created an Alliance Connection program to expand demand for its product.
• Hansen Medical Inc. (HNSN) down 3%.

The Russell 2000 (NYSE: IWM) edged out a gain while the Dow Jones Industrial Average (INDU) fell after news of weak earnings from Bank of America (NYSE: BAC) and Pfizer (NYSE: PPE) reminded investors that the subprime crisis is negatively impacting corporate earnings. The small-cap index added 0.14 points, or 0.02%, to 825.03. The Dow shed 3.58 points, or 0.03%, to 13,888.96.

Bank of America Corp.’s third-quarter net income plunged 32% due to write-downs on leveraged buyout loans and higher credit loss provisions. The firm’s third-quarter profit was $3.7 billion, or $0.82 per share, below analyst expectations of $1.06 per share and from $5.4 billion, or $1.18 per share, during the same period of 2006.

In other bearish news, Pfizer Inc.’s third-quarter net income plummeted 77%, due to a $2.8 billion charge related to the company exiting its insulin product Exubera. The company made the decision to exit Exubera because of intense competition from generic competitors. Pfizer’s third-quarter net income totaled $0.76 billion, or $0.11 per share, below Wall Street projections of $0.52 per share and from $3.36 billion, or $0.46 per share, a year earlier.

At 8:30 a.m., the U.S. Department of Labor said the number of Americans filing first-time applications for state unemployment benefits increased beyond economists’ expectations. For the week ended Oct. 13, the number of initial jobless claims rose to 337,000, above a forecast 315,000 and compared with 309,000 during the prior week.

Triad Guaranty Inc. (Nasdaq: TGIC), NovaStar Financial Inc. (NYSE: NFI) and Avici Systems Inc. (Nasdaq: AVCI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

The Russell 2000 (NYSE: IWM) futures are pointing lower and the small-cap index will be weighed down by feeble earnings from Pfizer (NYSE: PFE) and Bank of America (NYSE: BAC).

Bank of America Corp.’s third-quarter net income plunged 32% due to write-downs on leveraged buyout loans and higher credit loss provisions. The firm’s third-quarter profit was $3.7 billion, or $0.82 per share, below analyst expectations of $1.06 per share and from $5.4 billion, or $1.18 per share, during the same period of 2006.

In other bearish news, Pfizer Inc.’s third-quarter net income plummeted 77%, due to a $2.8 billion charge related to the company exiting its insulin product Exubera. The company made the decision to exit Exubera because of intense competition from generic competitors. Pfizer’s third-quarter net income totaled $0.76 billion, or $0.11 per share, below Wall Street projections of $0.52 per share and from $3.36 billion, or $0.46 per share, a year earlier.

At 8:30 a.m., the U.S. Department of Labor said the number of Americans filing first-time applications for state unemployment benefits increased beyond economists’ expectations. For the week ended Oct. 13, the number of initial jobless claims rose to 337,000, above a forecast 315,000 and compared with 309,000 during the prior week.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap below $750 million:

Biggest percentage gainers:

• WSI Industries, Inc. (WSCI), up 23.8%.
• Fonar Corp. (FONR), up 19%.
• HSW International Inc. (HSWI), up 19%.

Biggest percentage losers:

• LK International Inc. (JADE), down 20.5%.
• Nektar Therapeutics (NKTR), down 18.3%.
• Syneron Medical Ltd. (ELOS), down 15%.

Nektar Therapeutics (Nasdaq: NKTR), China Sunergy Co., Ltd. (Nasdaq: CSUN) and Kosan Biosciences Inc. (Nasdaq: KOSN) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $750 million:

Shares of Nektar Therapeutics Inc. (Nasdaq: NKTR) sunk to a 52-week low in pre-market trading this morning after Pfizer disclosed in an earnings report today that the pharmaceutical juggernaut will no longer pursue Nektar’s drug, Exubera, for the treatment of diabetes and will return the licensing rights to Nektar.

In a statement Pfizer said, “Despite our best efforts, Exubera has failed to gain the acceptance of patients and physicians. We have therefore concluded that further investment in this product is unwarranted.”

Shares of Nektar (NKTR) swooned 25.5%, or $2.06, to $6.02 in pre-market trading. Shares of Nektar have been trading in the range of $7.59 to $17.47 for the past 52 weeks.