Tag - Sdth

EchoStar Corp. (Nasdaq:SATS), ShengdaTech Inc. (Nasdaq:SDTH) and Brigham Exploration Co. (Nasdaq:BEXP) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Deerfield Capital Corp. (Nasdaq:DFR), Schawk Inc (Nasdaq:SGK), Tongxin International Ltd. (Nasdaq:TXIC), Massmutual Participation Investors (Nasdaq:MPV), Williams Controls Inc. (Nasdaq:WMCO) and City Telecom Depository Receipt (Nasdaq:CTEL).

The markets were up today sloughing off yesterday's losses. The down closed up 57 points to 8,504. The Nasdaq gained 11 points to close at 1,845 and the S&P 500 gained 4 points to close at 923 after hitting resistance at 932 in morning trading and slowly sliding back down.

The Russell 2000, moved up just under 2% for the day to close at 517. The Russell 2000 represents the 2,027 small cap companies and contains well known companies like 1-800 Flowers.com (Nasdaq:FLWS), BankRate.com (Nasdaq:RATE), and Dominos Pizza (NYSE:DPZ). The Russell 2000 Index is up 50.7% since the market's nadir on March 9, 2009.

Small-cap gainers were lead by Oshkosh Corporation (NYSE:OSK), up 27% after the Pentagon announced that the firm's new blast resistant, off-road ground force vehicles were the "clear winners" in a multi-billion dollar competition. Oshkosh won the bid to build 2,244 vehicles for a deal worth $1.06 billion. The company beat out defense industry heavyweights including BAE Systems (LSE:BA.L) and General Dynamics (NYSE:GD).

A very exciting small-cap gainer today was LogMeIn (Nasdaq:LOGM), up 25% on it's IPO. LogMeIn is an on-demand connectivity specialty service firm whose product allows computer users to access files and services on one of their computers from another computer across the Internet.

For example, workers can access files resident on their office computers from home without having to attach to a corporate network or have their files stored on network servers. LogMeIn's services are primarily directed to small and medium-sized businesses.

Other gainers included Ivanhoe Mines (NYSE:IVN), up 23%; Northeast Bancorp (Nasdaq:NBN), up 23%; and ShengdaTech (Nasdaq:SDTH), up 19% after being upgraded by Roth Capital to a Buy rating from a Hold.

Small-cap decliners were lead by CardioNet (Nasdaq:BEAT), down 41% on news that the company slashed its profit and revenue outlook for 2009. The Pennsylvania-based maker of wireless heart-monitoring devices revised its profits to a range of 30 cents to 35 cents from earlier forecasts of 69 cents to 73 cents. Investors punished the company by unloading shares started right the open and continuing through the day. Shares tumbled to $9.57 from Tuesday's close of $16.32.

Rounding out the small-cap decliners were Repros Therapeutics (Nasdaq:RPRX), down 31% after being downgraded by Wedbush Morgan and Ladenburg Thalmann; Spartan Motors (Nasdaq:SPAR), down 27%, and Immersion Corporation (Nasdaq:IMMR), down 23%.

*****Earnings season is right around the corner. It seems that expectations are pretty low. I've read a few commentaries that suggest that estimates are low enough that companies should be able to meet them. Of course, what corporate America has to say about the future will be important.

Of course, I'll be watching the banks closely.

*****A lot has gone right for the banks lately. Changes to accounting rules have allowed them enough breathing room to operate. Mortgage loan modifications have brought in fees. And trading activities have even helped some banks to boost profits.

Still, I believe there's another banking shoe to drop.

As I reported yesterday, foreclosure sales are the majority of home sales these days. And when a bank sells a foreclosed home, it is a realized loss. That's as opposed to a non-performing loan or a foreclosed home that has yet to be sold, which can be counted as an asset.

Further exacerbating this is that banks are not realizing as much profit on those sales of foreclosed homes as they're all flooding the market with them and thus driving down prices.

So I expect to see higher losses affecting banks' earnings in the future. These losses may not show up in the earnings season that's about to begin, but they are looming.

*****It was reported today that mortgage applications fell 19% last week, another sign that foreclosures are driving the market. It also reinforces the point that once foreclosure sales slow, there may well be little demand for traditional home sales to pick up the slack.

Rising interest rates and still-falling home values are also impacting new mortgage applications. It's a buyers market, and there's no reason to rush in when prices are falling and loan costs are rising.

*****Bloomberg is reporting that 20 million of the 93 million homes, condos and co-ops in the U.S. are underwater as of March 31, 2009. Somebody will take these losses at some point, whether it's the homeowner, the bank or the government/taxpayer or a combination of any or all of the three.

******We know that sub-prime mortgages were a major source of non-performing loans and foreclosures. Now, prime mortgages are in trouble. In his morning missive to his traders, TradeMaster Daily Stock Alerts' Jason Cimpl had this to say:

Delinquencies on prime mortgages soared in the first quarter of this year. Delinquency rates on prime mortgages, the least risky category, were 661,914, a jump from 250,986 a year earlier. Two thirds of all mortgages in the U.S. are prime mortgages, so any percentage increase in delinquencies represents a huge absolute number of delinquent mortgages. Here is more proof that banks are in for a tough few years as they must monitor their loan portfolios even closer and suffer write-offs. If prime mortgages start going south in a big way, look for banks to stiffen lending standards even more. Either way, this will have a negative impact on their bottom line numbers

The evidence is building that the economy is nowhere near out of the woods. And we can also see that banks will be facing serious problems ahead. As I said yesterday, investors should be on their toes.

Also, we're not recommending downside positions on banks - yet. But that time will come, and there will be a lot of money to be made.

*****I'm giving my staff the day off on Friday. There will be no Daily Profit that day. And I've cajoled Jason into giving us his video chart analysis tomorrow, so we have that to look forward to tomorrow…

If you can't wait, check out Jason's video from last week and get a special opportunity to try his TradeMaster service. Click here.

 

Clean Energy Fuels Corp. (Nasdaq:CLNE), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) and America's Car-Mart Inc. (Nasdaq:CRMT) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Medivation Inc. (Nasdaq:MDVN), Savvis Inc. (Nasdaq:SVVS), China Sunergy Co Ltd. (Nasdaq:CSUN), Westport Innovations Inc. (Nasdaq:WPRT), ShengdaTech Inc. (Nasdaq:SDTH) and OraSure Technologies Inc. (Nasdaq:OSUR).

Here are the most actively traded companies among small caps:

Medivation Inc. (Nasdaq:MDVN), Gilat Satellite Networks Ltd. (Nasdaq:GILT) and RTI Biologics Inc. (Nasdaq:RTIX) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Neurocrine Biosciences Inc. (Nasdaq:NBIX), TiVo Inc. (Nasdaq:TIVO), China Sunergy Co Ltd. (Nasdaq:CSUN), James River Coal Co. (Nasdaq:JRCC), Sykes Enterprises Inc. (Nasdaq:SYKE) and ShengdaTech Inc. (Nasdaq:SDTH).

Here are the most actively traded companies among small caps:

Small-cap stocks opened higher, but were unable to sustain the early bid and slipped back slightly into the red as slumping financial stocks and higher crude oil overcame bullish fodders on the merger and acquisition front from a large deal in the agriculture arena. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.06, or 0.15%, at 724.67.

Bunge Ltd. (NYSE:BG), a giant fertilizer and oilseed processing company, announced plans to purchase Corn Products International (NYSE:CPO) in a deal worth $4.4 billion. BG shares were up in overnight trading, benefiting from news that the company increased its earnings forecast, but turned lower shortly after the regular market open this morning. CPO prices soared some 24% on the news.

Crude oil prices were on the rise heading toward the U.S. stock market opening, climbing despite a pledge from Saudi Arabia to raise production. Tension in the Middle East has been stirred lately by revelations that Israel executed a practice strike on Iran’s nuclear facilities.

Despite the rise in crude oil prices, the dollar was actually on a roll this morning, climbing about 0.7% against the euro following soft economic data out of the Eurozone overnight. The greenback was also up about 0.5% versus the yen.

Financial stocks have been pummeled in recent weeks by investors amid ongoing worries about the credit crunch. Although some stocks in the financial zone might benefit from bargain hunters this week, there were additional analyst downgrades on banks and against home lenders overnight, which could keep that area on . . .

China Precision Steel Inc (Nasdaq:CPSL), National Coal Corp (Nasdaq:NCOC) and UAL Corp (Nasdaq:UAUA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gaiam Inc (Nasdaq:GAIA), ShengdaTech Inc (Nasdaq:SDTH), Third Wave Technologies Inc (Nasdaq:TWTI), Ricks Cabaret International Inc (Nasdaq:RICK), Allos Therapeutics Inc (Nasdaq:ALTH) and Vanda Pharmaceuticals Inc (Nasdaq:VNDA).

Here are the most actively traded companies among small caps:

Small-cap stocks ended the week with a whimper, pulled down by surging crude oil prices, an ongoing rout in financial stocks, sinking tech stocks and safe-haven money flow away from equities and into credit instruments. The Russell 2000 (NYSE:IWM) stumbled 12.10, or 1.64%, to 725.73, notching the second-largest one-day decline since June 6.

It’s probably no coincidence that the big decline exactly two weeks ago on June 6 also coincided with talk that Israel was developing plans to possibly attack Iran’s nuclear facilities, which sparked a rally in energy markets and also played into geopolitical tensions ahead of a weekend.

The reversal in crude oil prices meant that Thursday’s slide in energy markets was a very brief respite for consumer, airline and courier shares that have been mercilessly battered by soaring gasoline prices. The rise in crude oil was accompanied by a sharp decline in the U.S. dollar, which tumbled about 0.7% against both the euro and the Japanese yen.

Financial shares were under attack once again today following a downgrade in the outlook for banks by Merrill Lynch analysts. Citigroup (NYSE:C) was off 4.7%, Bank of America (NYSE:BAC) down 3.7% and Wachovia (NYSE:WB) off nearly 2%. Investment banks, brokerage firms and specialty trading houses were also under pressure, with JP Morgan (NYSE:JPM) down about 2%, Goldman Sachs (NYSE:GS) off 1.6% and Lehman Bros. (NYSE:LEH) down 1%. Small-cap firm MF Global (NYSE:MF) sank 22% and continues to reel in the face of analyst downgrades and slumping interest rate income from futures trades. Ironically, Merrill Lynch (NYSE:MER) itself was down 4.6%.

With the market taking a beating today and the crude oil market rising amid political concerns, the quarterly “quadruple witching” expirations shuffled into the background a little bit. That said, the market certainly was volatile today, be it from expirations or other factors. The NYSE said that short interest was at an all-time high, . . .

Small-cap shares were hovering near steady levels in morning activity, absorbing a large batch of data and Fed speak without any major price gyrations. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.63, or 0.09%, at 735.43.

The Philly Fed survey came in at minus 15.6, which was better than the projection for a decline of 19. That report was on the heels of the Industrial Production release and the NY Manufacturing Survey, providing quite a bit of data this morning on the manufacturing front — none of it all that upbeat. 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.

While investors were busy digesting a glut of morning economic data, Federal Reserve Chairman Ben Bernanke was busy talking about financial institutions and how to better prepare for crisis situations. His basic comments have been stated before, and the market appeared to focus on other factors for early direction.

Crude oil prices jumped back higher this morning, and were trading above $125 dollars a barrel. Pump prices around the country have spiked higher this week, which could crimp consumer spending habits. A direct victim of higher gas prices would appear to be retailers, but they have been fairing well of late, with the S&P Retail Index climbing yesterday and on solid footing this morning following better-than-expected . . .

Packeteer, Inc. (Nasdaq:PKTR), Dendreon Corp. (Nasdaq:DNDN) and ShengdaTech, Inc. (Nasdaq:SDTH) are among the most actively traded companies in Monday's pre-market trading among those with market capitalizations under $750 million.

Zhongpin Inc. (Nasdaq:HOGS), Sigma Designs, Inc. (Nasdaq:SIGM)  and SiRF Technology Holdings Inc. (Nasdaq:SIRF) 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:

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:

• Packeteer Inc. (Nasdaq:PKTR) up 13% on news that it will be acquired by Blue Coat Systems for $268 million.

• North American Galvanizing & Coatings Inc. (Nasdaq:NGA), up 10% on news that first-quarter earnings beat the consensus on Wall Street, while revenues met.

• Shengdatech, Inc. (Nasdaq:SDTH), up 4%.

Biggest percentage losers:

• Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN) down 11% on news that it reported first-quarter earnings that missed analysts’ estimates by a penny and news that it lowered its fiscal 2008 earnings estimate.

• TierOne Corp. (Nasdaq:TONE), down 2%.

• Hoku Scientific, Inc. (Nasdaq:HOKU), down 1.5%.

Sequenom, Inc. (Nasdaq:SQNM), Akeena Solar, Inc. (Nasdaq:AKNS) and TASER International, Inc. (Nasdaq:TASR) are among the most actively traded companies in Friday's pre-market trading among those with market capitalizations under $750 million.

Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB), Converted Organics Inc. (Nasdaq:COIN) and ShengdaTech, Inc. (Nasdaq:SDTH) are also among the most actively traded small-cap companies in pre-market trading.

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

The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open with a decline.

Small-cap stocks are set for a bearish opening following news that insurance giant American International Group, Inc. (NYSE: AIG) suffered the biggest quarterly loss in its history. The New York-based company had to write down over $11 billion in losses related to subprime mortgages, contributing to a net loss of $5.29 billion, or $2.08 per share.

Elsewhere, the U.S. Commerce Department reported this morning that spending increased 0.4% in January, while personal income added 0.3%. Economists were expecting smaller increases.

The same report showed that a measure of inflation is just above the U.S. Federal Reserve’s preferred year-over-year range.

In what has become a familiar refrain, small cap stocks retreated in the shadow of a double top formation on daily charts Thursday – the third time this has happened during the month of February, which is quite unusual. The Russell 2000 closed down 10.72, or 1.50% at 705.72.

The market faces some mild economic data risk this morning. The Chicago Purchasing Manager’s information is out at 9:45 a.m. ET and Michigan sentiment figures at 10:00 a.m. ET. The market needs to stabilize above 700 ahead of the weekend, with initial support just below at 702, then at 694 and 688. Meanwhile, resistance is at 712, but the big test is up at 723.50.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are declining as news of the assassination of former Pakistani Prime Minister Benazir Bhutto and weak durable-goods data spooks the markets. Negative news overshadowed U.S. consumer confidence, which rose unexpectedly in December.

At 11:10 a.m. ET, the small-cap index was down 12.69 points, or 1.59%, to 784.34. The Dow was down 124.53 points, or 0.92%, to 13,427.16.

The slip in stocks followed on the heels of reports that Pakistani opposition leader Bhutto was assassinated in a suicide bombing while attending a political rally. Crude-oil futures rose on news of Bhutto’s murder, as energy traders are nervous about volatility in the Middle East.

Crude-oil futures are trading about $96 a barrel in morning trading. Energy traders are also anticipating the release of weekly data that are expected to show a decline in U.S. crude inventory.

The Labor Department reported this morning reported that initial jobless claims for the week ended Dec. 22 increased by 349,000, compared with an increase of 346,000 the previous week.

China in the 21st century conjures up another time of go-go markets, our own Gilded Age when steel, coal and capital fused to create the greatest economy in the world. While China’s present boom has something to do with coal and capital, it has as much to do with nanotechnology and university partnerships.

Witness ShengdaTech, Inc. (Nasdaq: SDTH), which is applying 21st century technology to become a new leader in a decidedly old-line business. Shengdatech’s leading product is nano precipitated calcium carbonate (NPCC), made from limestone broken down to particles of ~100 nanometer (nm) in size, smaller than the wavelength of visible light.

NPCC is a key filler used in rubber, plastics, paint, ink and as a coating for paper. NPCC is also a key ingredient in the manufacture of automobile tires and PVC building materials, enhancing their tensile strength and durability. Shengdatech is currently the only supplier of NPCC to China’s burgeoning tire industry, and they’ll buy as much as Shengdatech can make.

What’s more, Shengdatech has developed, with Tsinghua University, a newly patented “membrane dispersion” production process that reduces the cost of producing NPCC particles by 5-7% over its current “ultra high gravity precipitation” process. Membrane dispersion also increases yields and provides more stable product quality.

Shengdatech (originally Zeolite Exploration Company) was created through the reverse acquisition of Faith Bloom Limited, a maker of coal-based chemicals, including ammonium bicarbonate and liquid ammonia (used in nitrogen-based fertilizers and as the raw material of many chemical products), as well as melamine and methanol. These more humdrum products have generated the cash to fund Shengdatech’s push into advanced processing of NPCC.

Investors are having great chemistry with ShengdaTech, Inc. (Nasdaq: SDTH). The Chinese manufacturer and seller of nano precipitated calcium carbonate (NPCC) and coal-based chemicals is ramping up production capacity, which is translating into stellar top and bottom lines.  

While the company still generates a pretty penny from coal-based chemicals such as ammonium bicarbonate and liquid ammonia, which the company then markets as chemical fertilizers and raw materials for the production chemicals, ShengdaTech’s revenue growth stems from its NPCC production. NPCC is extracted from limestone and used in the manufacturing of paints, rubber, plastic and tires.

NPCC production climbed to 130,000 metric tons (MT) from 30,000 MT in the past year. The Chinese small cap brought 40,000 MT of NPCC online in July and jumpstarted construction of 60,000 MT of NPCC capacity at a new facility in Xianyan City, Shaanxi Province in September. The new lines are expected to be completed in the first quarter of 2008 and will begin contributing to revenue at that time, according to ShengdaTech’s CEO, Xianghzi Chen.  

Once capacity at the company’s new facility is completed, total annual production capacity is expected to reach 190,000 MT.

In addition to strong product production, the company is creating efficiencies within its operations. ShengdaTech upgraded equipment used in its chemical factory in the third quarter, which created operating efficiencies that offset decreases in chemical prices and resulted in record gross margins in the third quarter.

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%.

Shares of ShengdaTech, Inc. (Nasdaq: SDTH) are advancing in pre-market trading after the Chinese company reported third-quarter results above a sole analyst’s estimate.

For the three months ended Sept. 30, the manufacturer of nano precipitated calcium carbonate (NPCC) and coal-based chemical products recorded net income of $7.8 million, or $0.14 per share, above a sole analyst’s estimate of $0.11, as surveyed by Thomson Financial. Earnings were up 62.7% from $4.8 million, or $0.09 per share in the third quarter of 2006.

Net income for the third quarter includes a tax provision of $775,264 due to a tax holiday on income generated from the company’s original NPCC factory in Tai'an City, Shandong Province, ended on Dec. 31, 2006.

ShengdaTech booked revenues of $27.2 million, up 44.4% from $18.8 million in the third quarter of 2006. Revenues clocked in above the $25.33 million an analyst polled by Thomson Financial was forecasting. The small cap attributed the increase in its top-line to increased capacity of the company's NPCC production filling the continuing demand for its products.

In July 2007, ShengdaTech added two new NPCC production lines with a total of 40,000 metric tons of additional capacity.

Shares of ShengdaTech (SDTH) popped 8.67%, or $0.65, to $8.15 in pre-market trading. Shares of ShengdaTech have been trading in the range of $3.55 to $9.55 for the past 52 weeks.

ShengdaTech, Inc. (Nasdaq: SDTH), Ascent Solar Technologies, Inc. (Nasdaq: ASTI) and GPC Biotech AG (Nasdaq: GPCB) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $750 million:

City Telecom (H.K.) Ltd. (Nasdaq: CTEL), Origin Agritech Ltd. (Nasdaq: SEED) and Children's Place Retail Stores, Inc. (Nasdaq: PLCE) are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $750 million:

An abrupt late-session reversal pushed down the Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU), wiping out strong gains that came despite weak retail sales. The small-cap index lost 10.21 points, or 1.21%, to 834.98. The Dow tumbled 63.57 points, or 0.45%, to 14,015.12.

On a year-to-date basis, the Russell 2000 is up 6%, while the Dow has advanced 12.4%.

Small caps were on track for a strong close and the Dow was in record territory until about 2 p.m. ET, when an abrupt turnout erased all gains and resulted in steep losses.

There appear to be a number of factors that combined to push equities off the cliff.

Financial services giant JPMorgan Chase & Co. (NYSE: JPM) announced staff reductions due to the lower volume of leveraged finance and structured credit, while also lowering its sales estimate for Chinese search engine Baidu—a move that resulted in a decline of major U.S. tech stocks.

Meanwhile, Countrywide Financial Corp. (NYSE: CFC) announced that September mortgage lending tumbled a stunning 44.3% from a year earlier due to tighter lending standards and the ongoing housing slump.

Trading got off to a bullish start following news that Wal-Mart Stores Inc. (NYSE: WMT) raised its third-quarter profit outlook.

Positive news from the world’s largest retailer overshadowed generally weak same-store results for September. Retailers blamed the warm weather, which made it difficult to sell cold-weather items.

E-Z-EM, Inc. (Nasdaq: EZEM), G. Willi-Food International Ltd. (Nasdaq: WILC) and ShengdaTech, Inc. (Nasdaq: SDTH) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

Origin Agritech Ltd. (Nasdaq: SEED), NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) and ShengdaTech, Inc. (Nasdaq: SDTH) are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $750 million:

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) retreated today following news of a shaky start to the earnings season. The small-cap index let go 0.53 points, or 0.06%, to 845.19. The Dow dropped 85.84 points, or 0.61%, to 14,078.69.

On a year-to-date basis, the Russell 2000 is up 7.3%, while the Dow has advanced 12.9%.

Small-cap futures were pointing up but the Russell 2000 fell along with the other major indices and spent the entire session in negative territory.

The bears first reacted to news that aluminum giant Alcoa Inc. (NYSE: AA) missed Wall Street’s profit expectations. The New York-based company reported a net income of $0.63 per share, while analysts were forecasting $0.64 per share. That disappointed investors hoping for a strong start to the third-quarter earnings season.

Stocks went sliding and fell to their lowest levels in the early afternoon on news that workers at Chrysler LLC started walking out of select factories following a failure to reach a contract agreement with the United Auto Workers union. The newly private automaker wants to cut operating costs while the UAW is focusing on job security.

Origin Agritech Ltd. (Nasdaq: SEED), Ninetowns Internet Technlgy Grp Co Ltd. (Nasdaq: NINE) and VIA Pharmaceuticals, Inc. (Nasdaq: VIAP) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

China BAK Battery Inc. (Nasdaq: CBAK), China Precision Steel, Inc. (Nasdaq: CPSL) and LJ International, Inc. (Nasdaq: JADE) are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

ShengdaTech Inc. (Nasdaq: SDTH), a Chinese maker of coal-based chemical products, reported second-quarter net income above analyst expectations.

for the three months ended June 30, net income was $6 million, or $0.11 per share, while Wall Street was expecting earnings of $011 per share. The firm’s second quarter bottom line compares with $3.2 million, or $0.06 per share, a year earlier.

Revenue soared to $22.7 million, above analyst projections of $21 million and above the $14.3 million from the same period of 2006.

The manufacturer says fiscal year sales are expected to be between $96 million and $98 million. ShengdaTech expects earnings in the range of $0.43 to $0.45 per share. Wall Street analysts are expecting sales of $96 million and earnings of $0.43 per share.

In pre-market trading, shares are up $0.28, or 5.17%, at $5.70. Over the last 52 weeks, shares have ranged between $3.55 and $9.95.

VIVUS, Inc. (Nasdaq: VVUS), Hoku Scientific, Inc. (Nasdaq: HOKU) and ShengdaTech Inc. (Nasdaq: SDTH) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

Hoku Scientific, Inc. (Nasdaq: HOKU), Microvision, Inc. (Nasdaq: MVIS) and Gigabeam Corp. (Nasdaq: GGBM) are among the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $500 million:

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

First Mutual Bancshares (Nasdaq: FMSB) announced it is being acquired by Washington Federal Inc. for $189.8 million in a cash and stock deal.

Medical software maker Simulations Plus, Inc. (AMEX: SLP) reported net earnings of $0.78 million, or $0.09 per share, for the three months ended May 31, up from $0.38 million, or $0.05 per share, in the year-ago period.

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

The Russell 2000 index and the Dow have opened in the green following news of the latest in corporate deal-making.

At 10:03 a.m. ET the Russell 2000 had added 2.33 points, or 0.28 percent, to 847.39. The Dow Jones Industrial Average was up 47.64 points, or 0.35 percent, to 13,583.07.

Billionaire investor Nelson Peltz is considering a bid for hamburger chain Wendy’s International Inc. (NYSE: WEN). Peltz’ Triarc Cos. investment company has requested information on Wendy’s financing, according to news reports this morning.

Elsewhere, French food group Danone is in exclusive talks to sell its biscuit and cereal unit for $7.2 billion in cash to Kraft Foods Inc. (NYSE: KFT).

U.S. stock markets will close at 1 p.m. today and be closed tomorrow in celebration of the Fourth of July.

The following were the most actively traded companies in Tuesday's trading among those with market capitalizations under $500 million.

The Russell 2000 and the other major U.S. indices are firmly in positive territory about an hour before the close. At 2:58 p.m. ET the Russell 2000 had added 11.27 points, or 1.35%, to 848.39. The Dow Jones Industrial Average was up 100.97 points, or 0.74%, to 13,654.69.

Owners of ShengdaTech Inc.’s (Nasdaq: SDTH) stock have reason to smile following news the Chinese chemical products company announced a fiscal 2007 outlook that beat Wall Street’s expectations. Net revenue is projected at between $96 million and $98 million, resulting in earnings between $0.43 per share and $0.45 per share, ShengdaTech said after Thursday’s close.

Chemical company ShengdaTech Inc. (Nasdaq: SDTH) said it expects net income of about $23 million in fiscal year 2007. The guidance is 31% higher than the China-based company’s $17.5 million net income in 2006.

Yadkin Valley Financial Corp. (Nasdaq: YAVY) announced it is buying Cardinal State Bank (Nasdaq: CSNC) for about $41.8 million, or $17.62 per share, in cash. Yadkin expects to complete the deal in the fourth quarter of 2007.

Silverleaf Resorts, Inc. (Nasdaq: SVLF) raised its full-year profit guidance, citing boosted Vacation Interval sales and interest income.

Australian investment firm Babcock & Brown Ltd. (ASX: BNB) announced it is buying laundry services business Coinmach Service Corp. (AMEX: DRA) for $713 million.

Hawkins, Inc. (Nasdaq: HWKN) reported a profit of $1.8 million, or $0.18 per share, for the fourth quarter ended April 1, compared with a $1.3 million profit, or $0.13 per share, a year earlier.

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