Tag - Nxtm

Savient Pharmaceuticals Inc. (Nasdaq:SVNT), WSP Holdings Ltd. (Nasdaq:WH) and M & F Worldwide Corp. (Nasdaq:MFW) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Shamir Optical Industry Ltd. (Nasdaq:SHMR), Meta Financial Group Inc. (Nasdaq:CASH), Pain Therapeutics Inc. (Nasdaq:PTIE), Atlas Pipeline Holdings L P (Nasdaq:AHD), Cowen Group Inc. (Nasdaq:COWN) and NxStage Medical Inc. (Nasdaq:NXTM).

Wonder Auto Technology Inc (Nasdaq:WATG), United Security Bancshares Inc.(Nasdaq:USBI) and Universal Travel Group (Nasdaq:UTA) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NeurogesX Inc (Nasdaq:NGSX), Orthovita Inc (Nasdaq:VITA), Todd Shipyards Corp (Nasdaq:TOD), ChinaCast Education Corp (Nasdaq:CAST), ICU Medical Inc (Nasdaq:ICUI) and NxStage Medical Inc (Nasdaq:NXTM).

Small caps are modestly rising this afternoon after large-cap benchmarks McDonald's (NYSE:MCD) and Procter & Gamble (NYSE:PG) lifted stocks from their morning descent. 

At 1:50 pm ET, the Russell 2000 (NYSE:IWM) was up 0.73%, the Dow was up 0.42% and the S&P 500 is 0.68% higher. 

Small caps on the move today include NxStage Medical Inc. (Nasdaq:NXTM), 30% higher after announcing a strategic business alliance with Asahi Kasei Kuraray Medical. Also on the rise are Pomeroy IT Solutions (Nasdaq:PMRY), up 28% after news broke the tech company would be acquired for $5.02 a share, and Internet Gold Golden Lines (Nasdaq:IGLD) is also 27% higher following a reported rise in Q1 profits. 

*****I was starting to think that Treasury Secretary Tim Geithner was secretly hoping that everyone had forgotten about his plan to remove toxic assets from bank balance sheets. But now he's out saying the Public-Private Investment Program (PPIP) should start in about six weeks. (Go ahead and mark your calendar now, in pencil, of course.) 

As you know, I'm not a big fan of Secretary Geithner. That's because, to me, he represents all that's wrong with how the government has dealt with the Wall Street banks, the likes of which nearly brought down our economy.  
He knew AIG (NYSE:AIG) was about to use TARP funds to pay bonuses and concluded there was nothing he could do. He knew AIG was about to pay Goldman Sachs (NYSE:GS) $12 billion out of TARP funds and again did nothing. He has consistently coddled the very companies that are in desperate need of tough love.  
And frankly, that's got me worried that Wall Street will go back to "business as usual" as soon as possible. Secretary Geithner has done nothing to stop it, and may even be encouraging a return to over-leverage by going to such great lengths to help these companies clean up their books.   

*****The big question surrounding the PPIP is how Secretary Geithner expects to get banks to sell their toxic assets. Banks believe these assets will regain value over time. And between government bailouts and stock sales (see Bank of America's (NYSE:BAC) $13.47 billion stock sale), banks are certainly going to operate under the assumption that they are well-enough capitalized to play the waiting game.  
It seems to me the "stress tests" were an ideal opportunity to force the banks to sell toxic assets. But Secretary Geithner chose to lob softballs, and now he has no leverage.  

Maybe he's got a plan. I sure hope so… 

*****As an investor and ruthless capitalist, I always look for profit opportunities in any situation. I might not like the outrageous stimulus spending coming from the government, but I'll darn well recommend the stocks that will benefit from government handouts. 

The PPIP is presenting a very nice profit opportunity for the companies that participate. That's because the Fed and Treasury will help finance-with your tax money, of course-any toxic asset sales. Companies that participate have an opportunity to make large profits with very little up front risk. It's a sweetheart deal, and I expect these stocks to move when investors realize what's going. I've prepared a Special Report on the subject and you can get it HERE. 

Small-cap stocks started off the day in negative territory and were never able to recover, even though large-cap stocks pared losses significantly from the intraday lows. Anxiety over the latest version of the financial rescue plan, soft economic data, sluggish consumer, technology and commodity stocks weighed down the Russell 2000 (NYSE:IWM), which slipped 7.99, or 1.18%, to 671.59. For the year, the Russell is down 12.3%, while the Dow is off 18.3% and the S&P 500 is down 20.9%.

The Senate is slated to vote later this evening on a new version of the $700 billion bailout plan, with additions to bank deposits that are insured and tax breaks. There is a strong sense among market watchers that some version of a rescue plan will be approved —  probably as soon as this weekend — but there are also growing fears that the bailout alone won’t fix all the economic ails facing not just America, but also the world.

General Electric Co. (NYSE:GE) plunged after the bell this morning following analyst downgrades overnight. GE is seen as a bellwether for the economy, and when that company is struggling, it can create a downward ripple throughout industrial and consumer stocks. However, after billionaire investor Warren Buffett said he planned to invest $3 billion in GE, the stock did rally off the lows. For the day, GE was off about 4%.

Most of the recent twists and turns in the stock market have been tied to the massive proposed bailout plan, but today economic data started to make a dent in the investor psyche — perhaps stirred by the realization that the big jobs report comes out Friday morning. An early take on the employment situation from private surveys didn’t exactly paint a great picture. Even though the ADP Employment survey was on the low side of the forecast, a report on layoffs by Challenger, Gray & Christmas Inc. showed a 7.2% jump in layoffs last month and a rate that was 33% above year-ago levels. What’s more, analysts at Challenger said that layoffs in the financial sector . . .

Small-cap shares edged higher Tuesday, carefully sidestepping yet another record high in crude oil prices, analyst downgrades on brokerages and nagging concerns about pinched consumer pocketbooks. Instead, the focus was on investment money flow out of other products into stocks, yet another “better-than-advertised” key economic report on retail sales and ideas that a bevy of Federal Reserve speakers were tilted toward inflation risk versus sluggish growth worry. For the day, the Russell 2000 (NYSE:IWM) gained 3.62, or 0.49%, to 736.85. After notching the highest daily close since Jan. 3 on Monday, today small caps managed to accumulate the loftiest intraday reading since Jan. 4.

Investors were able to set aside overnight losses tied to the aforementioned analyst downgrades of brokerage firms and jitters over losses in European shares when the monthly retail sales report came out above expectations. Although the headline figure came out near the forecast at 0.2%, the ex-autos component was at 0.5%, which was well above the median projection of 0.2%. In essence, it allowed the market a little breathing room early on as traders then sorted through various Federal Reserve speakers, earnings news, crude oil gyrations and merger/acquisition news.

It was another day in which small caps outperformed large-cap index products, which is a positive signal for bulls, who might be wondering whether or not equities can extend the rally off the March lows. However, despite the small-cap edge on large caps of late, it should also be noted that volume has been anemic. Instead of the old adage “sell in May and go away,” perhaps investors just went away and didn’t bother with the selling part.

Stock market investors had to navigate through some uncertain water today, as a dizzying array of Federal Reserve speakers were out providing their perspective on monetary policy moves and the state of the economy. It’s never easy to fully decipher Federal Reserve Chairman Ben Bernanke’s state of mind, much less . . .

Small-cap stocks edged slightly lower, pulled down by profit-taking from traders who caught the rally Monday, by analyst downgrades for several brokerage firms and by ongoing jitters over crimped consumer spending. However, better-than-forecast retail sales data generated some buying interest this morning. At 9:55 a.m. ET, the Russell 2000 (NYSE:IWM) was down 2.01, or 0.27%, at 731.23.

The retail sales report sported a headline figure at minus 0.2%, which was in line with the forecast, but the ex-autos figure was up 0.5%, which was well above the consensus of 0.2%. The surprisingly stout sales figure sparked a reversal in overnight selling in stocks, pushing stock index futures and index basket products into the green ahead of the regular opening.

The market has seen a run of late where economic data surprises on the upside, but many in the economic community remain unconvinced that a recovery in equities or the recent above-forecast data means that the economy is out of the woods. “Equity prices in the United States, Europe, Japan and India show a noticeable recovery from this tumultuous period, while stock prices indexes in China, Brazil and Russia have also posted gains from their recent lows. We remain skeptical because the worst of the weakness in U.S. business activity is not here yet,” Asha Bangalore, economist with Northern Trust, said in an email.

The market could continue to bask in the glow today of the Hewlett-Packard (NYSE:HPQ) purchase of Electronic Data Systems (NYSE:EDS) for $12.6 billion, which will heighten the anticipation of additional merger and acquisition activity. If there is M&A activity in large caps, certainly there are deals to be done for small-cap companies as well.

Coming into today’s session, the market was on the defensive in overnight trading on a dip in European shares following a jump in U.K. inflation data and write-downs from a large French bank. In addition, an Oppenheimer analyst downgraded . . .

Small-cap shares opened higher Monday, lifted by advances in overseas equity markets, a firm U.S. dollar and a dip in crude oil prices. At 9:55 a.m. ET, the Russell 2000 (NYSE:IWM) was up 0.86, or 0.12%, at 720.91.

The U.S. dollar was up nearly 1% against the yen into the market open, and pushed about 0.2% higher versus the euro. The firm dollar tone was linked to a $2-per-barrel pullback in crude oil futures, which came off Friday’s record highs amid profit-taking.

Financial shares could find a boost this morning from a jump in the largest European bank HSBC, which climbed about 2% overnight on profit news. Early on this morning, Citigroup (NYSE:C) was up 0.6% and Bank of America (NYSE:BAC) was up about 0.8%. Other large-caps of note included Wal-Mart (NYSE:WMT), which was up 1.2% shortly after the opening on optimism ahead of earnings. Research in Motion (Nasdaq:RIMM) jumped 2.4% on news that the company was unveiling a new BlackBerry Bold Smartphone.

A massive earthquake in China overnight caught trader attention, but a lack of details seemed to leave the market without a feeling for whether or not it would have an impact on equities in the United States.

Looking ahead to this week’s action, the economic calendar picks up steam after a relatively tame risk quotient last week. Not only will the market have to navigate through a batch of important data on retail sales, inflation and housing starts, but there is a glut of Federal Reserve speakers on the docket.

Speaking of Fed speakers, Chicago Fed President Charles Evans was the first one up to the plate this morning, saying that housing was still a drag on the economy, and that growth risks were to the downside, but inflation risk was on the upside. He said that U.S. growth should improve in the second half of the year, but . . .

DRAXIS Health Inc. (Nasdaq:DRAX), Arts-Way Manufacturing Co. Inc. (Nasdaq:ARTW) and FiberNet Telecom Group, Inc. (Nasdaq:FTGX) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $750 million.

NxStage Medical, Inc. (Nasdaq:NXTM), Vineyard National Bancorp (Nasdaq:VNBC) and Gencor Industries, Inc. (Nasdaq:GENC) are also among the top small-cap percentage gainers.

Here are Friday's biggest percentage gainers among small caps:

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:

NxStage Medical, Inc. (Nasdaq: NXTM) shares are plunging after the dialysis products maker reported a larger-than-expected loss for the fourth quarter.

The Lawrence, Mass.-based company posted a net loss of $17.4 million, or $0.47 per share, down 67% from a loss of $10.4 million, or $0.37 per share, a year earlier. Analysts predicted a loss of $0.34 per share.

NxStage Medical’s quarterly revenue totaled $29.9 million, more than triple the $15.7 million in sales during the year-ago period. Wall Street analysts, on average, projected revenue of $28 million.

“We are now in three dialysis markets: home, critical care and in-center," CEO Jeffrey Burbank said in a statement. “In our existing business, we formed key supply and distribution agreements and grew our home hemodialysis revenues by 134%. We hope to build on this momentum and continue to lead the development of the home hemodialysis market in 2008.”

The firm’s net loss was due to higher spending to fund the launch of its System One product and higher distribution expenses.

In afternoon trading, NXTM shares are plunging to a new year low — down 32.71%, or $4.17, to $8.58. Over the last 52 weeks, shares have ranged from $10.94, posted on Aug. 6, to $15.61, posted on Oct. 2.

The Russell 2000 (NYSE: IWM) is going strong on positive comments from a Fed official and news that billionaire Warren Buffet can help bond insurers. At 1:10 p.m. ET, the small-cap index had climbed 8.82 points, or 1.26%, to 708.57. The Dow Jones Industrial Average (INDU) had advanced 181.52 points, or 1.48%, to 12,421.53.

Stocks have been in the green out of the gate on 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.

Investors took the news as bullish even though one of the three bond insurers turned down the offer while the other three have not yet replied. The bond insurers would like relief with their entire portfolio, but Buffet is only offering help for their relatively safe municipal bond holdings.

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%.

Graham Corp. (AMEX: GHM) reported record earnings of $3.4 million, or $0.86 a share, for the fourth quarter ended March 31, up from $1 million, or $0.25 per share, in the year-ago period. The Batavia, N.Y.-based vacuum and heat transfer equipment maker reported fourth-quarter revenue of $20.8 million, up from $15.9 million a year earlier.

Sutron Corp. (Nasdaq: STRN) reported it received record bookings in May totaling $9.3 million. The Sterling, Va.-based hydrological, meteorological and oceanic data monitoring company announced a record $18.9 million in revenue for the first five months of 2007.

Senomyx Inc. (Nasdaq: SNMX) announced its first introduction of Nestle Co. food products containing senomyx flavor ingredients.

Rackable Systems, Inc. (Nasdaq: RACK) shares are trading up after online options tracking services reported increased call option activity that may be an indicator of an acquisition offer coming or of further shareholder-friendly developments. Rackable was also mentioned on CNBC Tuesday morning as a potential takeover candidate.

Diamond Foods, Inc. (Nasdaq: DMND) raised sales projections after Monday’s closing bell. The snack company announced Monday that revenue increased 43% to $97 million for the third quarter ended April 30, from $67.8 million a year earlier.

These are the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $500 million:

Sigma Designs, Inc. (Nasdaq: SIGM) raised its net income for the quarter ended May 5 to $8.5 million, or $0.32 per share, compared with a net income of $0.09 million, or $0.00 per share, during the same three months of 2006, the Milpitas, Calif.-based designer of video-oriented product solutions said after Monday’s close. That beat analysts’ projected earnings of $0.27 per share. The stock is up $0.45, or 2%, to $29.08.

Shares of Feldman Mall Properties, Inc. (NYSE: FMP) are flat following news this morning that the Great Neck, N.Y.-based renovator of regional shopping malls is considering strategic alternatives, which may include selling the company. The stock is at $11.38.

Biotechnology has been among the leaders of the market's latest upmove, and a trio of advisors are now looking at some speculative ideas in the small cap biotech space - a market niche that is known for its high risk and volatility.

Michael Ashbaugh, editor of MarketWatch's The Technical Indicator, sees a pair of small cap firms that he believes are poised for speculative gains. He notes, “Public since October 2005, NxStage Medical (Nasdaq: NXTM) is a small-cap maker of dialysis machines positioned to rise. It initially gapped higher in February, after the dialysis center chain DaVita Inc. bought a $20 million stake in the company.”

Meanwhile, over the past three weeks, Ashbaugh adds, the stock has established a tight range near its 52-week high, “positioning the shares to extend higher."

In addition, he says, “AVI BioPharma (Nasdaq: AVII) is a small-cap biopharmaceutical name positioned to rise. Earlier this month, it gapped above a five-month downtrend and its 50-day moving average. Since then, it's closely observed the 50-day as support, extending its gains."

Gregg Early also see upside opportunity in a speculative, small-cap biotech play -- pSivida Ltd. (Nasdaq: PSDV), an Australian biotech/nanotech company that is focusing  on developing controlled drug delivery technologies. “The company has signed a big deal with Pfizer (NYSE: PFE),” Early says, “and it’s pretty darn big.”

According to the editor of The Real Nanotech Investor, the firm signed a $165 million exclusive worldwide research and licensing agreement with Pfizer for pSivida's drug delivery technologies in ophthalmic applications.

Early explains, “Pfizer has bought $5 million worth of pSivida stock off the Australian exchange and has also received a $9 million private placement of shares at a U.S. price of about $2.20 a share.”