Tag - Prcp

FuelCell Energy Inc. (Nasdaq:FCEL), Gerber Scientific Inc. (Nasdaq:GRB) and Perceptron Inc. (Nasdaq:PRCP) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Cyberonics Inc. (Nasdaq:CYBX), First PacTrust Bancorp Inc. (Nasdaq:FPTB), Berkshire Bancorp Inc. (Nasdaq:BERK), New Century Bancorp Inc. (Nasdaq:NCBC) and Ark Restaurants Corp. (Nasdaq:ARKR).

Here are the biggest percentage losers among small caps:

Small caps gained shallow ground midday on the heels of Fed Chairman Bernanke’s sanguine comments surrounding the aftermath of the credit crisis and banks’ recent abilities to raise capital in response.

At 1:08 p.m. ET, the Russell 2000 (NYSE:IWM) edged up 3.89, or 0.53%, to 739.96 while the Dow gained 51.37, or 0.4%, to 12,949.75.

In a prepared statement to a Chicago Fed conference, Bernanke offered encouraging remarks this morning when he addressed lessons learned from the credit debacle. The Fed Chair said conditions remain delicate and encouraged banks to continue being “proactive” in raising needed capital to create new profit opportunities as the economy and financial markets improve.

“Importantly, capital raising and balance sheet repair allow for the extension of new credit, which supports economic expansion,” Bernanke said.

He also noted that banks that closely monitored valuation inaccuracies of financial instruments fared better.

In economic news, investors shrugged off a slew of downbeat data. The Philadelphia Fed survey clocked in at negative 15.6, which was better than the projection for a decline of 19. That report followed disappointing numbers from the release of Industrial Production and the New York Manufacturing Survey, both of which pointed to a bleak manufacturing activity. Industrial Production was pegged at minus 0.7%, which was below the forecast for a dip of 0.3%. Meanwhile, the NY Manufacturing data came in at minus 3.23 for May, below the forecast for 0.00.

In addition, the Weekly Claims report edged slightly higher to 371,000, which was just above the forecast of 370,000.

Shares of Perceptron, Inc. (Nasdaq:PRCP) are veering lower in pre-market trading after the provider of information-based measurement and inspection services for the auto-industry reported fiscal 2008 third-quarter earnings substantially below the sole analyst’s estimate on Wall Street. The disappointing bottom-line was a result of anemic sales in the firm’s automated systems segment due to significant softness in the U.S. domestic automotive market.

Shares flopped 15%, or $1.54, to $8.46 in pre-market trading. For detailed price information and recent news stories about Perceptron, click PRCP.  

The Russell 2000 (NYSE: IWM) futures are a whisker above the index’s closing level on Friday and small-cap stocks are set for a flat holiday opening.

News of corporate deal-making is grabbing the headlines this morning, as International Business Machines Corp. (NYSE: IBM) announced that it will buy Cognos Inc. (TSE: CSN), a maker of business intelligence software, for $5 billion.

Meanwhile, online broker E*Trade Financial Corp. (Nasdaq: ETFC) was downgraded by Citigroup Inc. (NYSE: C) and the possibility of bankruptcy was raised.

No major economic indicators are scheduled for release today and trading volume promises to be light as Americans observe Veterans Day.

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:

• Shengdatech Inc. (SDTH), up 9% on news of a rise in third-quarter profit.
• VASCO Data Security International Inc. (VDSI), up 8% on news it is expanding its product offerings.
• Internet Initiative Japan Inc. (IIJI), up 7% on news of a rise in fiscal second-quarter profit.

Biggest percentage losers:

• Perceptron Inc. (PRCP), down 42%.
• General Communication Inc. (GNCMA) down 8%.
• GPC Biotech AG (GPCB) down 8%.

Perceptron, Inc. (Nasdaq: PRCP), Atrion Corp. (Nasdaq: ATRI) and Oceanaut, Inc. (AMEX: OKN.U) were the only companies to hit new 52-week highs Tuesday among companies with market capitalizations or values under $500 million.

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

Perceptron, Inc. (Nasdaq: PRCP), a maker of manufacturing equipment for measurement and inspection, today announced it swung to a profit in the fourth quarter.

For the three months ended June 30, the company recorded net income of $2.3 million, or $0.26 a share, up 89% from a loss of $0.27 million, or $0.03 a share, in the equivalent period of 2006. Analysts were expecting earnings of $0.16 per share.

Net sales were $23.4 million, compared with $14.5 million in the year-ago period, and above Wall Street estimates of $18 million.

"Operating results for the fourth quarter, and for the fiscal year as a whole, were considerably better than we expected when we began the quarter and the fourth quarter's revenue was, in fact, a record for any quarter in our history,” CEO Alfred Pease said in a statement. “The sales improvement was primarily due to acceleration in the timing of customer delivery schedules.”

The Plymouth, Mich.-based company’s fiscal year 2007 net income was $1.5 million, or $0.17 per share, compared to $3.2 million, or $0.35 per share, in the year-ago.

Perceptron shares are up 12.5%, or $1.30, at $11.70. Over the last 52 weeks, shares have ranged between $7.77 and $11.88.