Tag - Rigl

Premiere Global Services Inc. (Nasdaq:PGI), AMCOL International Corp. (Nasdaq:ACO) and Rigel Pharmaceuticals Inc. (Nasdaq:RIGL) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Deckers Outdoor Corp. (Nasdaq:DECK), Western Alliance Bancorp (Nasdaq:WAL), NetScout Systems Inc. (Nasdaq:NTCT), Firstbank Corp. (Nasdaq:FBMI), Lakeland Bancorp Inc. (Nasdaq:LBAI) and Health Fitness Corp. (Nasdaq:FIT).

Rigel Pharmaceuticals Inc. (Nasdaq:RIGL), Sequenom Inc. (Nasdaq:SQNM) and Energy Conversion Devices Inc. (Nasdaq:ENER) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc. (Nasdaq:CSIQ), Force Protection Inc. (Nasdaq:FRPT), Changyou.com Ltd. (Nasdaq:CYOU), Biocryst Pharmaceuticals Inc. (Nasdaq:BCRX), Century Aluminum Co. (Nasdaq:CENX) and SonicWALL Inc. (Nasdaq:SNWL).

Verigy Ltd (Nasdaq:VRGY), Cheesecake Factory Inc (Nasdaq:CAKE) and Geron Corp (Nasdaq:GERN) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: A Power Energy Generation Systems Ltd (Nasdaq:APWR), Century Aluminum Co (Nasdaq:CENX), Pricesmart Inc (Nasdaq:PSMT), Wind River Systems Inc (Nasdaq:WIND), Rigel Pharmaceuticals Inc (Nasdaq:RIGL) and Lawson Software Inc (Nasdaq:LWSN).

Deluxe Corp. (Nasdaq:DLX), DineEquity Inc. (Nasdaq:DIN) and Kohlberg Capital Corp. (Nasdaq:KCAP) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hi-Tech Pharmacal Inc. (Nasdaq:HITK), Rigel Pharmaceuticals Inc. (Nasdaq:RIGL), ATP Oil & Gas Corporation (Nasdaq:ATPG), Greenbrier Companies Inc. (Nasdaq:GBX), Investors Title Co. (Nasdaq:ITIC) and Oriental Financial Group Inc. (Nasdaq:OFG).

Rigel Pharmaceuticals Inc. (Nasdaq:RIGL), MSC Software Corp. (Nasdaq:MSCS) and Blue Nile Inc. (Nasdaq:NILE) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: World Acceptance Corp. (Nasdaq:WRLD), MAP Pharmaceuticals Inc. (Nasdaq:MAPP), Century Aluminum Co. (Nasdaq:CENX), Ciena Corp. (Nasdaq:CIEN), Helen of Troy Ltd. (Nasdaq:HELE) and Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF).

Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN), Focus Media Holding Ltd. (Nasdaq:FMCN) and Rigel Pharmaceuticals Inc. (Nasdaq:RIGL) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

DryShips Inc. (Nasdaq:DRYS), Rigel Pharmaceuticals Inc. (Nasdaq:RIGL) and Atheros Communications Inc. (Nasdaq:ATHR) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Buffalo Wild Wings Inc. (Nasdaq:BWLD), Pan American Silver Corp. (Nasdaq:PAAS), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Genoptix Inc. (Nasdaq:GXDX), Hercules Offshore Inc. (Nasdaq:HERO) and BE Aerospace Inc. (Nasdaq:BEAV).

Here are the most actively traded companies among small caps:

(Part two of a two part series)

Dr. Fariba Ghodsian, chief investment officer of DAFNA Capital, looks for biotech companies that offer a differentiated advantage for a drug – ones that offer a unique product, or a different way to deliver a drug. If the drug is a me-too — i.e. many other companies have a similar drug — then the company is not attractive. She also examines the company’s market potential and its chances for success. “Obviously the market size of the drug is important,” Ghodsian notes. “But sometimes companies can thrive very well in very limited markets.”

She says the market should be an attractive one where the disease is difficult enough that the insurance companies would be willing to pay a high premium. She points to Genzyme (Nasdaq:GENZ) as an example of that. The biotech company made a billion dollar drug out of orphan diseases by tacking on a high price.

It goes without saying that the drug must also demonstrate a favorable safety and efficacy profile to warrant approval, while management is key to get the drug to market.

Ghodsian also examines if the company has the financial resources to go forward. “Often time’s biotech companies raise too little money, or are sometimes shortsighted when it comes to financing and I think that bites them in the end,” she said. “So a company that is well financed particularly in this market is important.”

Most of the companies in Ghodsian’s universe are not profitable. Some of the companies she invests in are very late stage, while some are more in clinical development. Among specific stocks she favors include, Isis Pharmaceuticals (Nasdaq:ISIS), Rigel Pharmaceuticals (Nasdaq:RIGL) and Pozen (Nasdaq:POZN).

Isis Pharmaceuticals is in the business of RNA-based drug discovery and development. Ghodsian finds this to be a unique company because it has a very broad base technology in antisense, which in essence is a way to block genes. “What we really like about Isis is that they have proved that the technology works,” Ghodsian said. “We like the company both for their specific drugs and for their broad technology platform.”

The company has a potential blockbuster drug for the reduction of blood lipids. “It has shown exceptionally strong clinical activity in patients, even those who . . .

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting gains despite the latest negative news from the housing sector.
 
At 10:39 a.m. ET, the small-cap index had added 2.94 points, or 0.40%, to 742.00. The Dow Jones Industrial Average (INDU) was up 15.77 points, or 0.12%, to 13,182.97.

Stocks are posting solid gains as investors react to news that Goldman Sachs Group Inc. (NYSE: GS) reported a rise in fourth-quarter profit, beating Wall Street’s expectations.

The New York-based investment bank, the largest in the world, had a quarterly net income of $3.17 billion, or $7.01 per share, well above analysts’ projected earnings of $6.61 per share. During the previous fourth-quarter the company had a profit of $3.10 billion, or $6.59 per share.

Unlike many of its rivals, Goldman Sachs has not been seriously affected by the meltdown in the subprime mortgage sector, which picked up steam after U.S. home prices started to fall in the second half of 2006.

Speaking of the housing sector, the situation remains dire.

The U.S. Census Bureau reported before the start of trading that housing starts in November declined 3.7% to a seasonally adjusted annual rate of 1.187 million. That’s the slowest pace in 16 years. Economists were expecting single-family home construction to fall a little further to an annual pace of 1.180 million units.

November housing starts are 24.2% below the revised annual rate of 1,565,000 units in November 2006.

The Russell 2000 (NYSE: IWM) fell today on news that high energy costs led to a jump in U.S. producer prices. The small-cap index dropped 2.25 points, or 0.29%, to 769.46. The Dow Jones Industrial Average (INDU) gained 44.06 points, or 0.33%, to 13,517.96.

On a year-to-date basis, the Russell 2000 is down 2%, while the Dow has moved up 8.36% and the S&P 500 has added 5.07%.

Producer prices, the prices received by domestic producers for their output, jumped 3.2% in November, according to the U.S. Labor Department. The increase, the biggest in 34 years, was led by a 14.1% surge in the price of energy goods.

Economists were expecting to see an increase of 1.5% following October’s rise of 0.1%.

The core producer price index, which excludes food and energy, added 0.4%, also more than projected.

The statistics raised fears of an uptick in inflation, which would make it less likely that the U.S. Federal Reserve will move to lower its target interest rate in the near future.

Small and large-cap stocks opened in negative territory and stayed there throughout the morning. A cautious rally took hold in the final two hours of trading, but the Russell 2000 was incapable of clearing the flat line the way the Dow did.

Shares of Rigel Pharmaceuticals Inc. (Nasdaq: RIGL) are in heaven on news before the start of trading that a treatment for rheumatoid arthritis showed positive results during a clinical trial.

A phase II study of the drug candidate tamatinib fosdium among 189 patients who received oral doses showed that the drug yielded positive results in as little as one week. Participants were divided into two groups, each given two daily doses of either 100mg or 150mg, with both groups demonstrating better response rates compared with patients given a placebo.

“In this clinical trial, both the 100mg and 150mg doses improved arthritis symptoms and did so quickly,” said senior vice president of medical development Elliott Grossbard in a statement.

San Francisco, Calif.-based Rigel plans on initiating the next clinical trial in 2008.

At 3:55 p.m. ET, shares of Rigel Pharmaceuticals (RIGL) had advanced $16.78, or 210%, to $24.78. The previous 52-week high of $12.46 was touched on April 16, while the 52-week low of $6.64 was set on Dec. 4.

The Russell 2000 (NYSE: IWM) is falling on news that U.S. producer prices for November increased the most in three decades.
 
At 10:44 a.m. ET, the small-cap index had lost 8.87 points, or 1.15%, to 762.84. The Dow Jones Industrial Average (INDU) was off 55.52 points, or 0.41%, to 13,418.38.

Producer prices, the prices received by domestic producers for their output, jumped 3.2% in November, the U.S. Labor Department reported before the start of trading. The increase, the biggest since 1973, was partially attributed to a 14.1% surge in the price of energy goods.

Producer prices increased 0.1% in October. Prices are up 7.2% on a year-to-date basis.

The core producer price index, which excludes food and energy, added 0.4%.

Both figures are well above what economists were expecting, which raises fears of inflation. An increase in inflation makes it less likely that the U.S. Federal Reserve will move to lower interest rates.

Stocks opened with a drop as investors focused on the producer price index and disregarded news that U.S. retail sales for November were surprisingly strong.

The Census Bureau reported before the opening that retail sales increased 1.2% to $385.8 billion. That’s beyond the projected increase of 0.6%. Retail sales in October rose 0.2%.

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

Investors appear to be in a bearish mood even though U.S. retail sales for November were surprisingly strong. The Commerce Department reported that retail sales climbed 1.2%, well above the projected increase of 0.6% and higher than October’s 0.2% increase.

That result is surprising because economists expect consumer spending to slow in the closing months of 2007.

But there is also disappointing economic news.

The U.S. Labor Department reported that November producer prices, the prices received by domestic producers for their output, jumped 3.2%. That’s the biggest monthly increase in more than 30 years.

The core producer price index, which excludes food and energy, added 0.4%.

Both figures are well above what economists were expecting, which raises fears of inflation.

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:

• Rigel Pharmaceuticals, Inc. (RIGL), up 78% on news its treatment for rheumatoid arthritis demonstrated good results in a clinical trial.
• Advanta Corp. (ADVNB), up 7%.
• Cynosure Inc. (CYNO), up 6%.

The Russell 2000 (NYSE: IWM) is firmly in negative territory this afternoon on news of more credit problems and a drop in consumer confidence. At 2:13 p.m. ET, the small-cap index was off 7.26 points, or 0.93%, to 773.64. The Dow Jones Industrial Average (INDU) was down 122.34 points, or 0.92%, to 13,143.95.

The contagion from the meltdown in the subprime mortgage sector infected Wachovia Corp. (NYSE: WB) today, as the fourth largest U.S. bank announced before the opening that it expects to suffer additional losses of $1.1 billion in the third quarter due  to collateralized debt obligations.

Stocks dropped out of the opening and the bears have not looked back since.

More bad news came in the form of a surprisingly sharp decline in November consumer sentiment. Preliminary data reported by the University of Michigan after the start of trading showed that consumer confidence fell to 75.0 from 80.9 in October. Economists were expecting a more modest decline to a level of 80.

The result, the lowest reading in two years, indicates that American consumers are feeling less confident about the economy and are not as willing to spend money. That’s a bad sign, because consumption comprises about 70% of gross domestic product.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Hutchinson Technology Inc. (HTCH), up 16% on news of a rise in fiscal fourth-quarter profit.
• Omega Financial Corp. (OMEF), up 15% on news it is being acquired by F.N.B. Corp. (FNB) for $393 million.
• AMIS Holdings Inc. (AMIS), up 15% on news that third-quarter earnings beat expectations.

Biggest percentage losers:

• Rigel Pharmaceuticals Inc. (RIGL), down 19% despite news of a successful drug trial.
• Home Diagnostics Inc. (HDIX), down 18% on news of an analyst downgrade.
• Virco Manufacturing Corp. (VIRC), down 16%. A company representative could not be reached for comment.

China Sunergy Co., Ltd. (Nasdaq: CSUN), Uranium Resources, Inc. (NasdaQ:URRE) and NeurogesX Inc. (Nasdaq: NGSX) are among the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

Small-cap stocks are trading close to the flat line shortly after the opening this morning, as news of a stronger-than-expected rise in U.S. productivity was offset by a steep profit drop at General Motors Corp.

At 9:54 a.m. ET the Russell 2000 had lost 1.66 points, or 0.20 percent, to 826.80. The Dow Jones Industrial Average was up 4.30 points, or 0.03 percent, to 13,216.18.
The productivity of American workers grew more than expected in the first quarter of 2007, the Labor Department said before the opening bell.  The annualized growth rate of 1.7% was just above economists’ expectations of a 1.6% rise.  Productivity grew 2.1% in the fourth quarter of 2006.

On the other hand, labor costs grew 0.6%, significantly below the rise of 6.2% posted in the last three months of 2006.

In business news, auto giant General Motors Corp. (NYSE: GM) reported a sharp decline in quarterly profit before the opening.  Net income was $62 million, or $0.11 per share, compared with $602 million, or $1.06 per share the first quarter of 2006.  First quarter earnings without items were $94 million, or $0.17 per share, below analysts’ expected earnings of $0.87 per share.

The following are the most actively traded companies in pre-market trading among those with market capitalizations under $500 million: