Tag - Ofix

Small-cap stocks reversed course, putting a brief but sharp morning slide on awful economic data in the rear-view mirror as investors gobbled up homebuilding, retail and financial shares and set aside any economic worries stirred by sobering private employment and services sector activity reports.  Some of today’s small-cap gainers are Forest City Enterprises Inc. (Nasdaq:FCE.B), Grey Wolf Inc (NYSE:GW) and Orthofix Intl. (Nasdaq:OFIX).

Other Market Watch highlights today included:

• Crude oil prices stabilized after weekly inventory reports showed a decline in crude oil stockpiles and a drop in refined products.  
• Obama: Automakers appear to be formulating “more serious” business models to help justify a government bailout of the ailing sector.  
• The ISE Homebuilders Index jumped 10% and small-cap homebuilders were among the best performers in the group.  
• The ability to rally after a bad reading on the ADP Employment Survey ahead of Friday’s big monthly employment report was a positive sign.


Small Cap Gainers:

• Forest City Enterprises Inc. jumped 26% as the commercial property firm benefited from the bounce in homebuilder and REITS. See (Nasdaq:FCE.B).  
• Grey Wolf Inc. rose 23% as the oil and gas driller announced a merger deal with Precision Drilling Trust. See (NYSE:GW).  
• Orthofix Intl. climbed 21% on news that a large owner in the firm is pushing for it to call a special shareholder meeting and sell a medical business unit, reduce corporate overhead. See (Nasdaq:OFIX).  
• Other small-cap homebuilders rallying today were Lennar Corp., which was up 8%, and KB Home, which soared 16%. See (NYSE:LEN) and (NYSE:KBH).

Small Cap Losers:

• Infineon Technologies sees a widened Q4 loss; shares careen 38%. See (NYSE:IFX).  
• IIVI Inc. was off 15% as the electronics and telecommunications manufacturing company revised guidance downward. See (Nasdaq:IIVI).  
• Alpha Natural Resources Inc. fell 14% as the coal miner revised guidance. See (NYSE:ANR).  
• Bucyrus sinks 7.4% in pre-market after completing its purchase of Czech firm, OKD Bastro. See (Nasdaq:BUCY). 

Small-cap stocks reversed course, putting a brief but sharp morning slide on awful economic data in the rear-view mirror as investors gobbled up homebuilding, retail and financial shares and set aside any economic worries stirred by sobering private employment and services sector activity reports. At 12:26 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.75, or 1.07% at 446.57.

Small caps were leading the way on the midday surge, which suggests that investors were willing to take on a more aggressive posture and not just sit on defensive, low-risk plays. Along that theme, yields on Treasury products were higher as demand clearly was more focused on riskier fare today.

The ability to rally in the face of a bad reading on the ADP Employment Survey ahead of Friday’s big monthly employment report was a positive sign for the market. In addition, the ISM non-manufacturing survey came in well below the forecast, showing the services sector of the economy is mired deep in recession.

Homebuilder stocks were in rally mode Tuesday and remained a hot item today. The ISE Homebuilders Index jumped 10% and small-cap homebuilders were among the best performers in the group. Centex Corp. (NYSE:CTX) was a star Tuesday and jumped another 12% today. Meanwhile, Lennar Corp. (NYSE:LEN) was up 8% and KB Home (NYSE:KBH) soared 16%. Homebuilder shares appear to be attracting bargain hunters amid sentiment that the government’s new focus on lowering long-term and mortgage rates will spur renewed activity in the housing sector and generate fresh refinancing at lower interest rates. President-elect Obama said today that homeowners inability to pay mortgages is a key part of the recession.

Obama also said that automakers appear to be formulating “more serious” business models to help justify a government bailout of the ailing sector. Ford Motor Co. (NYSE:F) was up 5%, but General Motors Corp. (NYSE:GM) was down . . .

Transition Therapeutics Inc. (Nasdaq:TTHI), Perfumania Holdings Inc. (Nasdaq:PERF) and Valley Financial Corp. (Nasdaq:VYFC) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Excel Maritime Carriers Ltd. (Nasdaq:EXM), Navios Maritime Holdings Inc. (Nasdaq:NM), TBS International Ltd. (Nasdaq:TBSI), Orthofix International NV (Nasdaq:OFIX), Eagle Bulk Shipping Inc. (Nasdaq:EGLE) and Tree.com Inc. (Nasdaq:TREE).

Here are the new 52-week lows among small caps:

<strong>Perfumania Holdings Inc.</strong> (Nasdaq<a href="/ticker/perf">:PERF</a>),<strong> FirstFed Financial Corp.</strong> (Nasdaq:<a href="/ticker/fed">FED</a>) and <strong>Orthofix International NV</strong> (Nasdaq:<a href="/ticker/ofix">OFIX</a>) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.<br /> <br /> Also included among the results:<strong> Savient Pharmaceuticals Inc.</strong> (Nasdaq:<a href="/ticker/svnt">SVNT</a>), <strong>Echelon Corp</strong>. (Nasdaq:<a href="/ticker/elon">ELON</a>), <strong>Excel Maritime Carriers Ltd. </strong>(Nasdaq:<a href="/ticker/exm">EXM</a>), <strong>Frontier Financial Corp.</strong> (Nasdaq:<a href="/ticker/ftbk">FTBK</a>), <strong>Consolidated Water Co Ltd. </strong>(Nasdaq:<a href="/ticker/cwco">CWCO</a>) and <strong>American Reprographics Co. </strong>(Nasdaq:<a href="/ticker/arp">ARP</a>).<br /> <br /> Here are the biggest percentage losers among small caps:

51Job Inc. (Nasdaq:JOBS), Orthofix International (Nasdaq:OFIX) and Reddy Ice Holdings Inc. (Nasdaq:FRZ) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.  

Also included among the results: Hickory Tech Corp. (Nasdaq:HTCO), H&E Equipment Services Inc. (Nasdaq:HEES), Maxcom Telecom (Nasdaq:MXT), Arlington Tankers Ltd. (Nasdaq:ATB), MAG Silver Corp. (Nasdaq:MVG) and Sinclair Broadcast Group Inc. (Nasdaq:SBGI).   

Here are the new 52-week lows among small caps:     

Interactive Intelligence Inc (Nasdaq:ININ), FirstFed Financial Corp (Nasdaq:FED) and Virtusa Corp (Nasdaq:VRTU) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Landmark Bancorp Inc (Nasdaq:LARK), Orthofix International NV (Nasdaq:OFIX), Build-A-Bear Workshop Inc (Nasdaq:BBW), Bankrate Inc (Nasdaq:RATE), CCA Industries Inc (Nasdaq:CAW) and Umpqua Holdings Corp (Nasdaq:UMPQ).

Here are the new 52-week lows among small caps:

Virtusa Corp (Nasdaq:VRTU), Interactive Intelligence Inc (Nasdaq:ININ) and MGIC Investment Corp (Nasdaq:MTG) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Furniture Brands International Inc (Nasdaq:FBN), LIN TV Corp (Nasdaq:TVL), TowneBank (Nasdaq:TOWN), Orthofix International NV (Nasdaq:OFIX), Teche Holdings Company (Nasdaq:TSH) and MainSource Financial Group Inc (Nasdaq:MSFG).

Here are the biggest percentage losers among small caps:

Orthofix International N.V. (Nasdaq:OFIX) is down more than 10% today after analysts at Wachovia downgraded the orthopedics products company to “market perform” from “outperform.” The downgrade came on concerns of difficulties in the company’s spine distributor base and the loss of its stem cell biologic Trinity. The Netherlands-based company has fallen to a 52-week low on the downgrade. Shares of Orthofix International are down $2.89 to $25.15 in below-average volume at 11:00 ET. The company fell to a low for the year of $25.05 earlier in today’s trading.

The Russell 2000 (NYSE:IWM) is holding on to its earlier gains on news that a major savings and loan company could get a $5 billion cash infusion.

At 12:31 p.m. ET, the small-cap index was up 4.67 points, or 0.65%, to 718.40. The Dow Jones Industrial Average had added 94.77 points, or 0.75%, to 12,704.19.

Washington Mutual Inc. (NYSE:WM) is near a deal to receive a $5 billion boost from a private equity group, according to news reports before the opening. The Seattle, Wash.-based savings and loan company is in final negotiations to receive an investment that will help it deal with liquidity issues stemming from the subprime mortgage meltdown.

Small-cap stocks opened in the green and have been in positive territory ever since. The bulls were undeterred by news after the opening that the U.S. economy . . .

Orthofix International NV (Nasdaq:OFIX), Comscore, Inc. (Nasdaq:SCOR) and eFuture Information Technology Inc. (Nasdaq:EFUT) are among the most actively traded companies in Monday's pre-market trading among those with market capitalizations under $750 million.

AgFeed Industries, Inc. (Nasdaq:FEED), IXYS Corp. (Nasdaq:IXYS) and Lakeland Financial Corp. (Nasdaq:LKFN) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Monday's pre-market trading:

The Russell 2000 (NYSE:IWM) managed a miniscule last-minute rise despite news of a weak government jobs report. The small-cap index climbed 0.16 points, or 0.02%, to 713.73, its fifth consecutive rise. The Dow Jones Industrial Average fell 16.61 points, or 0.13%, to 12,609.42.

On a year-to-date basis, the Russell 2000 has declined 6.83%, while the Dow is down 4.94% and the S&P 500 is off 6.67%.

Small-cap stocks began the day in the red following news before the opening that payrolls fell by a larger-than-expected 80,000 in March, according to the U.S. Labor Department. The same report also revised higher the job losses from the previous two months.

The March unemployment rate rose to 5.1%, the highest level in more than two years, from 4.8% in February.

“The job loss numbers today make it all but certain that the economy entered a recession in the first quarter,” said Arun Raha, vice president of economic research and consulting for the North American operations of reinsurance company . . .

Orthofix International NV (Nasdaq:OFIX), FirstFed Financial Corp. (NYSE:FED) and Bank of the Carolinas Corp. (Nasdaq:BCAR) were among the new 52-week lows established during Friday's trading among companies with market capitalizations or values under $750 million.

Salary.com, Inc. (Nasdaq:SLRY), DemandTec, Inc. (Nasdaq:DMAN) and 4 Kids Entertainment Inc. (NYSE:KDE) were also among the 52-week small-cap lows.

Here are today's 52-week small-cap lows:

Shares of Orthofix International N.V. (Nasdaq:OFIX) are broken, down more than 20%, on before the start of trading that CFO Timothy Adams has resigned. Separately, the Huntersville, N.C.-based company also reaffirmed its revenue guidance of between $120 million and $124 million for the first quarter of 2008. Seven analysts polled by Thomson Financial were projecting revenues of $124.65 million.

At 3:31 p.m. ET, the stock had dropped $9.59, or 24%, to $30.31.

DemandTec, Inc. (Nasdaq:DMAN), Orthofix International NV (Nasdaq:OFIX) and AZZ Inc. (NYSE:AZZ) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Helicos BioSciences Corp. (Nasdaq:HLCS), Blue Coat Systems, Inc. (Nasdaq:BCSI) and Nexity Financial Corp. (Nasdaq:NXTY) are also among the top small-cap percentage losers.

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

The Russell 2000 (NYSE: IWM) futures are down and the small-cap index will open lower on news a larger-than-expected decline in durable goods orders.

The U.S. Census Bureau reported that orders for durable goods fell 5.3% in January to a seasonally adjusted level of $212.80 billion. Economists were expecting to see a 4% decline following a downwardly revised increase of 4.4% in December.

Durable goods are goods designed to last at least three years.

The Russell 2000 showed that Monday’s rise was no fluke after putting in another solid performance Tuesday, rising 6.86, or 0.97% to 717.32. The rally stalled in the shadow of a little double top reversal from Feb. 14, and that test marks the primary zone to watch heading toward the more dynamic double top at 731.

It will be interesting to see if the Russell 2000 can sustain the positive momentum through this morning’s data – particularly the testimony by Federal Reserve Chairman Ben Bernanke, which will begin to hit the newswires around 10:00 a.m. ET. Look for resistance Wednesday at 723 and 731, with support at 712, 702 and 694.

The Russell 2000 (NYSE: IWM) closed in the red while the other major U.S. indices rose on news of a plan to help bond insurers. The small-cap index fell 0.85 points, or 0.12%, to 695.43. The Dow Jones Industrial Average (INDU) gained 96.72 points, or 0.79%, to 12,381.02.

On a year-to-date basis, the Russell 2000 has declined 9.22%, while the Dow is down 6.66% and the S&P 500 has retreated 7.85%.

Bond insurers were the story today, first causing steep declines and then becoming the catalyst of a breathtaking rebound that lifted all but the small-cap index.

Stocks small and large spent the majority of the session deep in negative territory on speculation that rating agencies Moody’s, Standard & Poor’s and Fitch will move to downgrade major bond insurers MBIA Inc. (NYSE: MBI) and Ambac Financial Group, Inc. (NYSE: ABK).

Like a fine wine, life gets better with age, but sometimes parts need replacing to keep your engine going. With the inevitable onset of age permeating the baby boomer generation, boomers are getting a new lease on life—in the form of hip and knee replacements, the demand for which is expected to steadily increase.

Last year, nearly 8,000 people were turning 60 each day, amounting to 330 every hour, and their ranks will only get larger, according to the U.S. Census Bureau. On a global scale, industry analysts predict 8% annual growth in the $4.6 billion worldwide knee replacement market and 6% annual growth in the $5.2 billion hip replacement market.

The rise in growth in the joint replacement market is already benefiting Symmetry Medical Inc. (NYSE: SMA) and Orthofix International (Nasdaq: OFIX), two small caps that deal in equipment for orthopedic applications.

Warsaw, Ind.-based Symmetry Medical designs, develops and produces implants and related instruments for orthopedic device manufacturers. Its implants are used in hips, knees and other joints. The company also provides trauma implant systems used to repair damaged bones and spinal implants for the treatment of degenerative spine disease. (Spinal implants represent a $5.3 billion market that is growing 11% annually.) Symmetry Medical also manufactures surgical instruments, orthopedic cases for storing and transporting orthopedic devices, endoscopy cases for endoscope sterilization and dental cases for dental implants and instruments.

The company served 863 customers in 2006, gained 111 new customers last year and counts among its clients leading implant system manufacturers such as Zimmer, Stryker, Wright, Biomet, the Deputy division of Johnson and Johnson, and Smith and Nephew. Approximately 60% of Symmetry’s sales are made in the United States.