Tag - Sint

DryShips Inc. (Nasdaq:DRYS), SI International, Inc. (Nasdaq:SINT) and JetBlue Airways Corporation (Nasdaq:JBLU) were the most actively traded small caps in pre-market trading. All three stocks were showing gains.

Small-cap stocks went into rally mode Wednesday, as an economic report on “big ticket” purchases soothed investor worries about business and consumer spending habits and allowed the market to shrug off a rally in crude oil prices. The Russell 2000 (NYSE:IWM) closed up 9.44, or 1.30%, at 732.95, and is now down 4.3% for the year. Small caps were strong relative to large-cap indices, with the Dow up 0.79% on the day, while the S&P 500 was up 0.80%. For the year, the Dow is off 13.2%, while the S&P 500 is down 12.7%.

That soothing economic report —  the durable goods release — came in well above expectations at a gain of 1.3% versus the forecast for a meager rise of 0.1%. This data base can be quite volatile, but even when extracting the transportation segment (which can skew the total because of huge airplane purchases), the figure was still up 0.7% and well past expectations, which helped investors think that spending patterns for business and consumers were managing to glide through these difficult times without too much disruption.

However, before anointing an erratic economic release like durables as today’s stock market savior, it should be noted that there are far more dynamic reports on tap Thursday in the form of GDP and weekly unemployment claims.

“I’m not a big fan of the durable numbers,” Nick Kalivas, vice president of financial research with MF Global, said in an email interview. “I think there is short-covering at month-end; just look at the rally in Freddie Mac and Fannie Mae. I agree that the financial system is fragile, but the news has not been overly surprising and the end of the month has hedge funds booking profits on shorts. Small caps also have a history of performing well at the turn of the month, and the upside push in oil might be seen by many as a temporary shock given the relatively firm tone in the . . .

SI International Inc. (Nasdaq:SINT), Talbots Inc. (Nasdaq:TLB) and Borders Group Inc. (Nasdaq:BGP) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Northern Dynasty Minerals Ltd. (Nasdaq:NAK), Quiksilver Inc. (Nasdaq:ZQK), Midwest Banc Holdings Inc. (Nasdaq:MBHI), TomoTherapy Inc. (Nasdaq:TOMO), Community Bankshares Indiana Inc. (Nasdaq:CBIN) and Chico's FAS Inc. (Nasdaq:CHS).

Here are the biggest percentage gainers among small caps:

Small caps spiked out of the gate and remain in at their highs mid-session, as durable goods orders came in stronger than expected, overshadowing crude’s assent and new layers uncovered for the credit crunch.

At 12:24 p.m. ET, the Russell 2000 (NYSE:IWM) was up 9.91, or 1.31%, at 733.42.

Durable goods orders increased a robust 1.3% in July, clocking in substantially above economists’ projections for a skimpy increase of 0.1%. Transportation orders accounted for the bulk of the increase, which was expected to prop up the number. However, the welcoming surprise was that sans transportation orders, durable good orders still managed to eek out a 0.7% increase, while the consensus was looking for a decline. Excluding the transportation number yields a clearer picture of business spending.

Non-defense capital goods orders excluding aircraft and non-defense capital goods shipments were up for a second straight month, up 2.6% and 1.6% respectively. Both are positive indications for current and future capital spending.

“This is two months in a row of decent strength,” Andy Busch, foreign exchange strategist for BMO Capital Markets said. “And for July, the strength was across the board. The third quarter is starting off on a very positive note, and suggests upside risk for tomorrow's revision to Q2 real GDP.”

Also in positive news, Atlanta Fed President Dennis Lockhart gave a speech on inflation this morning, stating that headline CPI will peak near the July level and that the current Federal Reserve monetary policy approach is consistent with an easing in overall inflation, hinting that rates will most likely remain at current levels for some time.

Small-cap stocks struggled to hold higher ground in morning trade, with support from a strong durable goods report offset by a big rally in crude oil prices and lingering concerns about the banking sector. At 9:55 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1, or 0.14%, at 724.51.

The durable goods report topped analyst expectations, with the headline number at 1.3%, well above the forecast for a meager rise of 0.1%. The upside surprise in orders sparked a trend reversal in stock index futures ahead of the open, with S&P 500 futures gaining more than four handles shortly after the report was released. Still, it should be noted that the durables data tends to be volatile, which could dull some of the bullish impact from the report. When stripping away the transportation component on the durables release, the number was still up 0.7%, which was a positive signal. The transportation orders include huge ticket items like airplanes, which create big swings in the headline number, so many traders and analysts will focus on the ex-transportation figure for a clearer picture of business spending. The yield on Treasury products was climbing fast this morning (meaning Treasuries themselves were lower) after the data surprise, hinting that the market was starting to consider rate hikes down the road.

On the Fed policy front, Atlanta Fed President Dennis Lockhart gave a speech on inflation this morning, and said that headline CPI will peak near the July level and that the current Federal Reserve monetary policy approach is consistent with an easing in overall inflation. Reading between the lines, it looks like the Fed leans toward protecting growth at this stage and will keep rates on hold for some time.

Crude oil prices were on a rampage this morning, shooting more than $3 a barrel higher, climbing back above $119 as energy traders build a weather premium into the market just in case Hurricane Gustav plows into crude oil and natural gas production areas in the Gulf of Mexico, which would pinch supplies. The Gulf area . . .

SI International, Inc. (Nasdaq:SINT), a provider of information technology for the federal contracting sector, said this morning that it will be acquired by Serco Group, sending shares bolting in pre-market trading.

Serco will acquire SI International for $32 per share in cash, or an aggregate price of $423 million. The per share purchase price represents a 40% premium over SI International’s closing stock price on Tuesday. As part of the deal Serco will also assume SI International's debt, which, at June 28, 2008, was $87.3 million, net of cash.

Serco Group offers management services to government, military and commercial customers to improve internal processes.

Shares soared 35%, or $7.91, to $30.81 in pre-market trading. For detailed price information and news stories on SI International, click SINT.

Ahead of today’s opening, SI International Inc. (Nasdaq:SINT) was downgraded by analysts at Friedman, Billings, Ramsey to “market perform” from “outperform.” The firm also lowered its price target to $23 from $30. The Reston, Va.-based company provides information services, technology and network solutions to the U.S. government. The company announced before today’s opening it had won a $19 million contract to support the U.S. Army Defense Ammunition Center for a one-year base with four one-year option periods, the company said.

At 2:41 p.m. ET, shares are at $18.32, off $0.46 from Wednesday’s close. Trading volume is at nearly 250,000 shares, well above the average 80,000.

The Russell 2000 (NYSE:IWM) posted a decline as investors consolidated their positions following Tuesday’s big rally. The small-cap index declined 17.80 points, or 2.61%, to 664.13. The Dow Jones Industrial Average (INDU) lost 293 points, or 2.36%, to 12,099.66.

On a year-to-date basis, the Russell 2000 has shed 13.30%, while the Dow is down 8.78% and the S&P 500 has let go 11.57%.

Small-cap stocks opened in the green but lost steam and reversed midway through the session. The bullish sentiment in the morning was partially attributed to news that Morgan Stanley (NYSE:MS) beat analysts’ expectations despite reporting a decline in fiscal first-quarter profit.

That’s good news for investors worried that the pain that from Bear Stearns (NYSE:BSC) could spread to other investment banks.

Silicon Graphics Inc. (Nasdaq:SGIC), Fronteer Development Group Inc. (Amex:FRG) and SI International, Inc. (Nasdaq:SINT) were among the new 52-week lows established during Wednesday's trading among companies with market capitalizations or values under $750 million. 

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

The Russell 2000 (NYSE:IWM) is in positive territory as the momentum from Tuesday’s jump carries over.

At 10:05 a.m. ET, the small-cap index was up 4.11 points, or 0.60%, to 686.04. The Dow Jones Industrial Average (INDU) had climbed 4.39 points, or 0.04%, to 12,397.05.

Small-cap stocks defied the futures to open higher. The index rose more than 4% on Tuesday on news that the U.S. Federal Reserve has decided to lower its target interest rate 0.75% to 2.25% and better-than-expected quarterly results at major investment banks.

Similarly, the bulls today are helped by news before the opening that Morgan Stanley (NYSE:MS) saw a decline in fiscal first-quarter profit but still beat expectations.

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

Investors appear ready to pull back slightly after the major U.S. indices posted major gains on Tuesday. That’s despite news this morning that Morgan Stanley (NYSE: MS) saw a decline in fiscal first-quarter net income but still beat expectations. Investment banks have come into focus following the emergency sale of Bear Stearns (NYSE: BSC).

The Russell 2000 took flight Tuesday, notching the largest one-day gain of the year as investors embraced yet another reduction in benchmark interest rates by the FOMC. The small-cap barometer shot 31.45, or 4.84%, to 681.93. It’s a familiar refrain, as the market has had a tendency to rally on FOMC day – only to falter in the after wash. It should be interesting to see if this rally can grow legs.

There are no noteworthy economic releases or Fed speakers on tap today, which should free up the market to focus on routine fundamentals and to sift through the impact of Tuesday’s surge to see if there is more gas in the tank. The market poked through a little resistance spot late Tuesday at 680, and that is now immediate support. Below there, look for support at 674, then at 667 and 660. Resistance is at 684.50, and 695.

Information services and technology firm SI International, Inc. (Nasdaq:SINT), said after Tuesday’s close that it is lowering its first-quarter and full 2008 guidance due to unexpected delays in the funding of anticipated new work and delays in the award of a major new contract that was expected to start during the first quarter. Shares skidded 18.4%, or $4.51, to $19.99 in pre-market trading.

For detailed price information and recent news stories about SI International, click SINT. 

Hoku Scientific, Inc. (Nasdaq: HOKU), SRI/Surgical Express, Inc. (Nasdaq: STRC) and U.S. Shipping Partners L.P. (NYSE: USS) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

IT and network services company SI International, Inc. (Nasdaq: SINT) reported this morning that it inked a contract with the U.S. Army Defense Ammunition Center to provide knowledge management and electronic performance system integration and support.

The contract, which has a one-year base period with four one-year option periods, is valued at approximately $8 million if all option years are exercised.

SI International will evaluate Army Defense training courses, create Web-based training development processes, establish Professional Development Institutes for instructors, develop a long-term training plan, implement a Learning Management System and deliver help desk support. 

The Army Defense Ammunition Center provides ammunition training, explosives safety instruction and logistics support to Department of Defense military and civilian organizations and personnel.

Shares of SI International (SINT) rose $0.43, or 1.54%, to $28.40 out of the gate Wednesday morning.

SI International, Inc. (Nasdaq: SINT), which is an information technology and network solutions company, reported before the bell this morning second quarter revenues below expectations and revised guidance below the Street’s expectations.

For the three months ended June 30, the Reston, Va.-based company booked revenue of $118.8 million, compared with revenue of $119.2 million in the second quarter last year. Four analysts polled by Thomson Financial were expecting revenues of $124.45 million. 

Net income clocked in right in line with what six analysts polled by Thomson Financial were expecting. Net income was $5.0 million, or $0.38 per share, compared with $4.4 million, or $0.34 per share in the second quarter of 2006.

SI International also revised guidance for the third quarter and the remainder of the year. The company expects to book revenues of between $140 million to $144 million for the third quarter of 2007. Four analysts polled by Thomson Financial are expecting revenues of $144.76 million.

SI International is forecasting earnings for the third quarter in the range of $4.3 million to $4.5 million, or $0.32 to $0.34 per share. Six analysts polled by Thomson Financial are expecting earnings of $0.44 per share.

SI International says for the fiscal year 2007, it now expects to book revenues of $515 million to $525 million and net income of $19.3 million to $20.1 million, or $1.45 to $1.51 per share. This compares with previously issued guidance of revenues of $490 million to $510 million and net income of $21.6 million to $23.5 million, or $1.60 to $1.74 diluted earnings per share. The Street had anticipated revenues of $527.38 million and earnings of $1.66 per share.

Shares of SI International were halted in pre-market trading.

The Russell 2000 and the other major U.S. indices are lower across the board for a second consecutive session. At 3:07 p.m. ET the Russell 2000 was down 8.82 points, or 1.04%, to 839.43. The Dow Jones Industrial Average had lost 144.17 points, or 1.06%, to 13,451.29.

Shares of SI International, Inc. (Nasdaq: SINT) are in negative territory on news the Reston, Va.-based information services provider has been downgraded by brokerage house Stifel Nicolaus & Co.