Tag - Penx

Immucor Inc. (Nasdaq:BLUD), CPI International Inc. (Nasdaq:CPII) and Panhandle Oil and Gas Inc. (Nasdaq:PHX) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Old Second Bancorp Inc. (Nasdaq:OSBC), Digimarc Corp. (Nasdaq:DMRC), Union Drilling Inc. (Nasdaq:UDRL), Penford Corp. (Nasdaq:PENX), Bridgford Foods Corp. (Nasdaq:BRID) and Care Investment Trust Inc. (Nasdaq:CRE).

Cowen Group Inc. (Nasdaq:COWN), Tier Technologies Inc. (Nasdaq:TIER) and Basic Energy Services Inc. (Nasdaq:BAS) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FBL Financial Group Inc. (Nasdaq:FFG), Vitran Corp Inc. (Nasdaq:VTNC), Eagle Bulk Shipping Inc (Nasdaq:EGLE), TNS Inc. (Nasdaq:TNS), Penford Corp. (Nasdaq:PENX) and Clearwater Paper Corp. (Nasdaq:CLW).

CommScope Inc. (Nasdaq:CTV), athenahealth Inc. (Nasdaq:ATHN) and Deckers Outdoor Corp. (Nasdaq:DECK) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Kaman Corp. (Nasdaq:KAMN), Penford Corp. (Nasdaq:PENX), Scientific Games Corp. (Nasdaq:SGMS), Hurco Cos Inc. (Nasdaq:HURC), UAL Corp. (Nasdaq:UAUA) and Stantec Inc. (Nasdaq:STN).

Small-cap stocks started out the week with a whimper, extending Friday’s slide as investors unload stocks amid fears about corporate profits during one of the worst recessions in history. Energy and commodity markets were hammered today, which escalated selling interest in companies with close ties to physical markets and reinforced worries about the slumping economy in front of another push of data later this week. The Russell 2000 (NYSE:IWM) closed down 12.50, or 2.60%, at 468.80, the lowest daily close of 2009. For the year, small caps are down 6.1%, while the Dow is off 3.4% and the S&P 500 is down 3.7%. The fact that small caps are still leading the way down so far this year is cause for concern, running contrary not only to bottoming hopes, but also a season that is supposed to favor small caps.

Financial stocks – particularly banks – joined commodities as a noteworthy soft spot for equities today, but in reality the pain was spread around just about everywhere. Looking at S&P sectors, only distillers and packaged food companies had noticeable gains; meanwhile sizable declines in the double digit range were found in all of the following sectors: industrial real estate investment trusts, tire and rubber companies, metal and mining stocks, coal producers, homebuilders, diverse financial services firms, steel companies and construction firms.

Energy stocks were a big drag on the market, with the Energy Select Sector SPDR Fund off 3.8%. Crude oil futures in the U.S. closed down nearly 8%, shedding $3.24 down to $37.59. But the story in commodities today comprised much more than just energy; grains markets were ravaged, with corn sinking some 7% in the morning to touch limit losses. Meanwhile, gold lost 4% and the Gold and Silver Index fell 6.5%, with mining stocks among the worst performers on the day. While some of the losses in commodities might have been exacerbated by a strong dollar, it is primarily a reflection of soft demand amid difficult times. The Commodity Research Bureau Index fell 4% today, which is a big one-day moving for an index that reflects price action in 19 different physical markets.

Today marks the unofficial start of first-quarter earnings season, and investors were bracing for plenty of bad news on the profit front. After the close, Alcoa Inc. (NYSE:AA) reported a larger-than-expected loss. Alcoa closed down . . ..

Columbia Banking System Inc (Nasdaq:COLB), Taylor Capital Group Inc (Nasdaq:TAYC) and Entercom Communications Corp (Nasdaq:ETM) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: GSI Group Inc (Nasdaq:GSIG), LandAmerica Financial Group Inc (Nasdaq:LFG), Penford Corp (Nasdaq:PENX), Century Bancorp Inc (Nasdaq:CNBKA), Indiana Community Bancorp (Nasdaq:INCB) and Red Robin Gourmet Burgers Inc (Nasdaq:RRGB).

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

After a rocky finish to Wednesday’s trading, small-cap stocks are slightly higher midday Thursday on encouraging congressional testimony from Federal Reserve Chairman Ben Bernanke, though woes in the U.S. mortgage and housing industries continue to pressure stocks.

At 1:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 7.50, or 1.13%, at 671.25, while the Dow was up 63.43, or 0.57%, at 11,210.87.

Bernanke spoke before the House Financial Services Committee and encouraged the government to update its outdated financial regulation system. Bernanke, along with Treasury Secretary Henry Paulson, urged the government to create a safety net that would minimize a failing bank’s impact on the broader economy.

"In light of the Bear Stearns episode, Congress may wish to consider whether new tools are needed for ensuring an orderly liquidation of a systemically important securities firm that is on the verge of bankruptcy, together with a more formal process for deciding when to use those tools," Bernanke said.

Paulson added that major mortgage lenders Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) will be able to recover from this rough patch, and that he had been informed that both Fannie and Freddie have enough capital. Shares of the mortgage companies sank by midday, though, with Fannie Mae falling 10% and Freddie Mac skidding 20%. The mortgage giants’ woes dragged down many financial stocks amid worries the banking crisis is far from over.

Not helping calm investors was a RealtyTrac Inc. report early in the day that showed U.S. foreclosure filings grew 53% in June from the prior year. Bank repossessions soared the most since the company began collecting data in 2005.

FCStone Group, Inc. (Nasdaq:FCSX), Columbia Banking System Inc (Nasdaq:COLB) and United Community Bancorp (Nasdaq:UCBA) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Entercom Communications Corp (Nasdaq:ETM), FirstFed Financial Corp (Nasdaq:FED), MGIC Investment Corp (Nasdaq:MTG), Zumiez Inc (Nasdaq:ZUMZ), Investors Title Co (Nasdaq:ITIC) and Penford Corp (Nasdaq:PENX).

Here are the biggest percentage losers among small caps:

LCA Vision Inc (Nasdaq:LCAV), City Bank (Nasdaq:CTBK) and Targanta Therapeutics Corp (Nasdaq:TARG) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Blue Phoenix Solutions (Nasdaq:BPHX), Mothers Work Inc (Nasdaq:MWRK), Atlantic Coast Federal Corp (Nasdaq:ACFC), Accuride Corp (Nasdaq:ACW), Penford Corp (Nasdaq:PENX) and Provident Financial Holdings Inc (Nasdaq:PROV).

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

Penford Corp. (Nasdaq:PENX), a maker of specialty ingredients for the food industry, reported before Wednesday’s opening bell that its second-quarter profit rose 35% to $2.3 million, or $0.21 per share, from $1.7 million, or $0.19 per share, a year earlier. Wall Street analysts anticipated earnings of $0.19 per share.

In Wednesday morning trading, PENX shares are down 2.21%, or $0.51 at $22.56. For detailed price information and recent news stories about Penford, click PENX.

The Russell 2000 (NYSE: IWM) is down despite a brief climb into positive territory on news of a plan to bring relief to struggling homeowners. At 2:43 p.m. ET, the small-cap index had lost 3.89 points, or 0.51%, to 763.88. The Dow Jones Industrial Average (INDU) had retreated 43.74 points, or 0.33%, to 13,327.98.

The U.S. Treasury Department is working on a plan to ease the pain of borrowers with subprime adjustable-rate mortgages, Treasury Secretary Henry Paulson said in a speech after the start of trading.

Paulson has been working with members of the mortgage industry on a plan that would help borrowers by freezing their introductory interest rates instead of having them reset to higher rates after a certain period of time, the way it is now. One of the issues currently in discussion is the length of the freeze.

A complete relief package has not yet been hammered out, while Paulson, who was speaking at an event organized by the Treasury Department’s Office of Thrift Supervision, did not give specifics on when a final agreement would be reached.

However, some observers expect a deal to be reached later this week.

Stocks reacted positively to the news, with the Russell 2000 posting gains shortly before 1 p.m. ET, only to fall down again. The Dow stayed in the green for longer before also succumbing to the bearish pull.

In other news, U.S. manufacturing continued to expand in November, but at a slower pace. The Institute for Supply Management’s manufacturing index fell to 50.8 from 50.9 in October. A reading above 50 indicates an expansion.

The Russell 2000 (NYSE: IWM) managed just a modest win today despite a strong start on speculation of an imminent interest rate cut. The small-cap index added 1.71 points, or 0.22%, to 767.77. The Dow Jones Industrial Average (INDU) moved up 59.99 points, or 0.45%, to 13,371.72.

On a year-to-date basis, the Russell 2000 has lost 2.50%, while the Dow has advanced 7.19% and the S&P 500 is up 4.56%.

The day’s economic news was decidedly negative, with reports showing that Americans’ income and consumption growth slowed while spending on construction declined more than expected.

The U.S. Commerce Department reported that consumption increased 0.2% in October, below the projected 0.3%. Consumption increased 0.3% in September. That could be a sign that American consumers have decided to curtail spending due to higher energy prices, tighter credit and the ongoing slump in the housing sector.

October personal income added 0.2%, below economists’ expectations and half the 0.4% rise it booked in September.

The housing sector also contributed bleak news. The U.S. Census Bureau announced that construction spending for October fell a greater-than-expected 0.8%. Predictably, residential construction led the way down, dropping 2% from the level in September and 15.8% from the level a year ago.

On a year-to-date basis, construction spending has amounted to $977 billion, 2.8% below the $1,005.3 billion recorded during the first ten months of 2006.

Nevertheless, stocks opened in positive territory as investors speculated that U.S. Federal Reserve will cut its target interest rate when it meets on Dec. 11.

Penford Corp. (Nasdaq: PENX) shares are falling after the maker of ingredient systems for industrial and food applications announced on Tuesday it is selling two million shares of common stock. The Centennial, Colo.-based firm’s said it expects proceeds from the stock sale of $57.3 million.

The company said it will use the proceeds to pay down debt. Jefferies & Company, Inc. is acting as the sole book-running manager of the offering, with BMO Capital Markets acting as a co-manager.

In afternoon trading, PENX shares are down 12.44%, or $3.50, at $24.64. Over the last 52 weeks, shares have ranged from $16.23 to $41.30.

Local.com Corp. (Nasdaq: LOCM) reported that it was granted a patent for cell phone-enabled local search. The patent also covers several advertising models associated with the search format.

The founder of Israel-based intimate apparel and socks maker Delta Galil Industries (Nasdaq: DELT) announced he is selling his shares and transferring control of the company to the vice chairman of the board. CEO and Founder Dov Lautman is selling 2.5 million shares to GMM Capital LLC, which is controlled by Delta Galil’s vice chairman Isaac Dabah.

Telecommunications company North Pittsburgh Systems (Nasdaq: NPSI) is being acquired by Consolidated Communications Holdings Inc. (Nasdaq: CNSL) for $375 million in a cash and stock deal.

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

Specialty starch maker Penford Corp. (Nasdaq: PENX) announced its third-quarter profit more than doubled. The Centennial, Colo.-based company reported a $5 million profit, or $0.54 per share, for the third quarter ended May 31, compared with a $2 million profit, or $0.22 per share, in the same period of 2006.

Casual and golf apparel maker Hartmarx Corp. (NYSE: HMX) said its quarterly earnings rose 39% on a year-over-year basis, beating Wall Street projections. The Chicago-based company reported a $5.4 million profit, or $0.15 per share, compared with a profit of $3.9 million, or $0.10 per share, a year earlier.

Ceragon Networks Ltd. (Nasdaq: CRNT) reported that cell phone provider Digitel Mobile Philippines chose Ceragon for Digitel’s network expansion efforts. The Digitel order will bring Ceragon more than $2 million.

Hidary Group announced it increased its offer to acquire the legendary boxing and athletic equipment company Everlast Worldwide Inc. (Nasdaq: EVST) to $30.55 per share from $26.50 per share.

Miami-based Astar Air Cargo Holdings announced it has made an offer of $7.75 per share for ABX Air, Inc. (Nasdaq: ABXA). The offer is a 7% premium from Wednesday’s closing price.

Verenium Corp. (Nasdaq: VRNM) reported it is a member of a team that won a bid from the Department of Energy for a $125 million bioenergy research center.

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

Shares of Centennial, Colo.-based Penford Corp. (Nasdaq: PENX) have reached a fresh 52-week high on news the maker of natural-based ingredient systems for industrial and food applications more than doubled its quarterly profit.

Net income for the third quarter of fiscal 2007 ended March 31 was $5.0 million, or $0.54 per share, compared with a net income of $2.0 million, or $0.22 per share, for the same three months of 2006, the company said before the start of trading. Wall Street was looking for a profit of $0.27 per share, according to Thomson Financial.