Tag - Smts

KongZhong Corp (Nasdaq:Kong), SoManetics Corp (Nasdaq:SMTS), First Citizens Bancorp (Nasdaq:FCZA) and Unity Bancorp Inc (Nasdaq:UNTY) are among the biggest percentage Gainers in day's trading among companies with market capitalizations under $1 billion.

 

Also included among the results: Jewett Cameron Trading LTD (Nasdaq:JCTCF), Virnetx Holding Corp (Nasdaq:VHC), Houston American Energy Corp (Nasdaq:HUSA), Central Bancorp Inc (Nasdaq:CEBK) and Rubicon Technology Inc (Nasdaq:RBCN).

Financial Institutions Inc. (Nasdaq:FISI), AAR Corp. (Nasdaq:AIR) and Zygo Corp. (Nasdaq:ZIGO) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Somanetics Corp. (Nasdaq:SMTS), Green Bankshares Inc. (Nasdaq:GRNB), Hawk Corp (Nasdaq:HWK), Momenta Pharmaceuticals Inc. (Nasdaq:MNTA), Cheesecake Factory Inc. (Nasdaq:CAKE) and Princeton National Bancorp Inc. (Nasdaq:PNBC).

Seabridge Gold Inc. (Nasdaq:SA), NovaGold Resources Inc.(Nasdaq:NG) and Hoku Scientific Inc. (Nasdaq:HOKU) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Novogen Depository Receipt (Nasdaq:NVGN), Emcore Corp. (Nasdaq:EMKR), China Architectural Engineering Inc. (Nasdaq:CAEI), 4 Kids Entertainment Inc. (Nasdaq:KDE), Somanetics Corp. (Nasdaq:SMTS) and Minefinders Corporation Ltd. (Nasdaq:MFN).

Here are the biggest percentage gainers among small caps:

Paging doctor profits: with medical equipment stocks up about 6.3% year-to-date versus a 10.9% decline for the S&P 1500, manufacturers Somanetics Corporation (Nasdaq:SMTS) and CryoLife, Inc. (NYSE:CRY) both have unusually clean bills of health in today’s market.

Somanetics Corporation manufactures and markets the INVOS System, a non-invasive monitoring device that measures the patient’s blood oxygen levels in the brain and muscles. Blood oxygen must be carefully controlled during surgeries since brain damage occurs quickly without sufficient oxygen. The INVOS device consists of a portable monitor and single-use disposable sensors. Somanetics has an installed base of over 2,000 monitors and sold more than 371,000 disposable sensors last year. The company markets its system through a direct sales force in the United States and independent distributors in Europe, Canada, the Middle East and South Africa

Surgeons and anesthesiologists use the INVOS System to take corrective action when oxygen imbalances are detected, thus improving patient outcomes and reducing care costs. Hospitals have a strong incentive to manage care costs since much of their reimbursement is based on fixed fees. By using the INVOS System to monitor patients during surgeries, hospitals can avoid unnecessary complications and lengthened hospital stays. 

The INVOS System is already being used in adult and pediatric cardiac surgeries. Somanetics has also developed and begun marketing a smaller disposable sensor for use in neonatal applications. The neonatal device has already been installed in 33 U.S. hospitals and is attracting considerable attention; some 200 neonatal . . .

Schawk Inc (Nasdaq:SGK), United Security Bancshares (AL) (Nasdaq:USBI) and Camco Financial Corp (Nasdaq:CAFI) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: SeraCare Life Sciences Inc (Nasdaq:SRLS), The9 Ltd (Nasdaq:NCTY), Community Bankshares Indiana Inc (Nasdaq:CBIN), Fronteer Development Group Inc (Nasdaq:FRG), Somanetics Corp (Nasdaq:SMTS) and Carmike Cinemas Inc (Nasdaq:CKEC).

Here are the biggest percentage gainers among small caps:

Chemgenex Pharmaceuticals (Nasdaq:CXSP), Security Bank Corp (Georgia) (Nasdaq:SBKC) and Bank of the Ozarks Inc (Nasdaq:OZRK) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Jazz Pharmaceuticals Inc (Nasdaq:JAZZ), Bank of Commerce Holdings (California) (Nasdaq:BOCH), National Coal Corp (Nasdaq:NCOC), First California Financial Group Inc (Nasdaq:FCAL) and Somanetics Corp (Nasdaq:SMTS).

Here are the biggest percentage gainers among small caps:

Somanetics Corp. (Nasdaq:SMTS), which offers a patient monitoring system that measures changes in the blood oxygen levels, this morning reported a 40% increase in fiscal second-quarter revenues and a 23% increase in net income, both of which trumped the consensus on Wall Street. The firm attributed robust results to a 76% increase in revenue from its corner stone product, Invos System monitor, and a 28% increase in sensor revenue from the year-ago quarter.

Somanetics also reiterated guidance for the full year.

Shares popped up 7%, or $1.45, to $22 in pre-market trading. For detailed price information and recent news stories about Somanetics, click SMTS.

The Russell 2000 (NYSE:IWM) closed with a remarkable gain following news that the U.S. Federal Reserve has lowered its target interest rate. The small-cap index rose 31.45 points, or 4.83%, to 681.93. The Dow Jones Industrial Average (INDU) advanced 420.41 points, or 3.51%, to 12,392.66.

On a year-to-date basis, the Russell 2000 has retreated 10.98%, while the Dow is down 6.57% and the S&P 500 has let go 9.37%.

Small-cap stocks soared higher than their larger counterparts and added to their earlier gains on news after the start of trading that the U.S. Federal Reserve has decided to lower its target interest rate 0.75% to 2.25%.

“Recent information indicates that the outlook for economic activity has weakened further,” the Fed said in a statement. “Growth in consumer spending has slowed and labor markets have softened.”

The market had priced a full 1% of the federal funds rate, the rate at which commercial banks make overnight loans to each other, but policymakers expressed concern about inflation.

The Russell 2000 (NYSE: IWM) futures have moved up and the small-cap index will open in positive territory.

Wall Street appears set for a bullish opening following a day of steep losses. There is little on the economic docket today, except for news about the U.S. trade deficit in January.

The U.S. Commerce Department reported this morning that the trade deficit increased 0.6% to $58.20 billion in January from December’s downwardly revised $57.86 billion. Economists were expecting the deficit to widen to $59 billion.

Exports increased 1.6%, while imports added 1.3%.

Small-cap stocks extended the freefall Monday, sinking to the lowest daily close since Oct. 27, 2005. By the time the bell put a merciful end to things, the Russell 2000 fell 16.14 points, or 2.45%, to 643.97. Interestingly, the late action in small caps was far more severe on the downside than what took place in large-cap issues. In addition, the index snapped critical chart support from January at 650. Persistent price action below that point would open the door for another leg down in the bear market.

The international trade data this morning could spark some pre-opening volatility in stocks, but that report tends to be more of a market mover in the foreign exchange domain. Look for resistance Tuesday for the Russell at 650, then at 654.50 and 660.

Meanwhile, support is at tentatively at 639 and 634, but since we are now at long-term lows, the next big chart points aren’t until 625 and 614.

The Russell 2000 (NYSE: IWM) closed with a steep loss as recession fears spread on Wall Street. The small-cap index fell 16.14 points, or 2.45%, to 643.97. The Dow Jones Industrial Average (INDU) lost 153.54 points, or 1.29%, to 11,740.15.

On a year-to-date basis, the Russell 2000 has declined 15.93%, while the Dow is down 11.50% and the S&P 500 has shed 13.28%.

The bears dominated the session today as the specter of recession loomed in the background. Friday’s disappointing jobs report, which showed that payrolls plunged 63,000 in February, led many economists to conclude that the U.S. economy is either in or will soon be in a recession.

A report by investment bank The Goldman Sachs Group, Inc. (NYSE: GS) released before the start of trading forecasts that the U.S. Federal Reserve will respond by lowering its target federal funds rate to 2% by late April to give the economy a boost.

The federal funds rate, the rate commercial banks charge each other for overnight loans, currently stands at 3%.

The Russell 2000 was on a steady decline from the start of trading, slowly sliding lower throughout the course of the day. Today’s declines were led by shares of steel companies and shares of companies in the financial services industry.

Shares of Somanetics Corp. (Nasdaq: SMTS) are falling following news before the start of trading that the Troy, Mich.-based maker of a non-invasive patient monitoring system was downgraded to “reduce” from “neutral” by investment bank SunTrust Robinson Humphrey. At 2:02 p.m. ET, the stock was down $6.28, or 25%, to $18.86.

For detailed price information and recent news stories about Somanetics, click SMTS.

The Russell 2000 (NYSE: IWM) has added to its earlier losses after news of a rise in U.S. wholesale inventories in January.

At 12:06 p.m. ET, the small-cap index was down 9.09 points, or 1.38%, to 651.02. The Dow Jones Industrial Average (INDU) was missing 97.12 points, or 0.82%, to 11,796.57.

The stock of unsold goods held by wholesalers increased 0.8% in January, the U.S. Census Bureau reported after the start of trading. Economists were expecting wholesale inventories to rise 0.4% following a 1.1% jump in December.

However, wholesale sales increased 2.7%, the largest rise since March 2003. Sales fell 0.5% in December.

Wholesalers act as intermediaries between manufacturers or importers, and retailers, and a rise in inventories indicates that unsold goods are piling up.

Shares of steel companies are leading the list of sector losers. Among the decliners is small-cap steel maker Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP). Also trading in the red is China Precision Steel, Inc. (Nasdaq: CPSL).

Shares of Somanetics Corp. (Nasdaq: SMTS) are also in bearish territory on news before the opening that the Troy, Mich.-based maker of a noninvasive patient monitoring system was downgraded by an analyst.

Bucking the trend is Tongjitang Chinese Medicines Co. (NYSE: TCM). The China-based specialty pharmaceutical company has received a buyout offer from its chairman.

If you are feeling a little lightheaded during brain surgery, you may worry that doctors are taking too much off the top. Instead, there probably isn’t enough blood oxygen coursing through your cranium — a situation Somanetics Corporation (Nasdaq: SMTS) will immediately detect. In times like these, it’s nice to know Somanetics has your brain on its mind.    

Somanetics is the guardian angel of the operating room and ICU unit. The company continuously and non-invasively monitors changes in blood oxygen levels in the brain and elsewhere in the body in somatic, or skeletal muscle tissue, using its INVOS system. This is a portable monitor used with single-use disposable sensors called SomaSensors. Of all organs, the brain is the least tolerant to blood deprivation — damage can occur in minutes. Studies show that using the INVOS system to help manage brain blood oxygen can significantly lower cases of major organ dysfunction, improving results and reducing hospital costs. 

There are many possible markets for Somanetics’ technology. The Troy, Mich.-based company says the global annual disposable sensor market is worth at least $2.6 billion, with $1.4 billion of that from elderly, non-diabetics major surgeries. It is actively seeking other uses: one current clinical trial is on diabetic patients over the age of 50 who are undergoing major surgeries. Diabetics are at particular risk of oxygen disruptions because of vascular problems. Positive trial results would lead Somanetics to more aggressively market the INVOS System for use in diabetic patients in 2009. The company estimates the diabetic surgery market at $400 million.

Near term, Somanetics’ markets still have huge potential and very low penetration rates. The company first targeted cardiovascular surgeries in 1998; it is a $200 million opportunity with penetration of only 20%. A second focus — pediatric ICU — was first addressed in 2005; it also is a $200 potential market with penetration less than 5%. The third focus — and a current key one — is neonatal ICU. This product is in customer testing and design, and is expected to be addressed in fiscal 2008, although the timing is uncertain. It is seen as a $400 million market. 

With the increasing focus by hospitals on avoiding unexpected costs, especially in the operating room, ICU and other critical care areas, Somanetics says there are significant incentives to evaluate and adopt new monitoring technologies. In addition, knowledge is lacking about blood oxygen levels and how deprivation can result in unnecessary medical treatments and costs.

Somanetics Corp. (Nasdaq: SMTS) reported before the opening that its third-quarter revenue was $10.2 million, down slightly from views of $10.6 million but up 29% from $7.9 million during the same period of 2006. Net income for the period ended August 31 was $2.8 million, or $0.19 a share, compared with Wall Street expectations of $0.15 per share and up 47% from $1.9 million, or $0.13 per share, a year earlier.

The Troy, Mich.-based firm, which makes blood-monitoring medical systems, saw third-quarter operating expenses rise 19% to $5.6 million, from $4.7 million a year earlier.

"We believe our growth is attributable to several factors, including the expansion of our U.S. sales and education team, the publication earlier this year of data demonstrating improvements in patient outcomes with use of information from the INVOS System in adult cardiac surgery, and momentum in the pediatric cardiac and intensive care unit markets," CEO Bruce Barrett said in a statement.

Third-quarter gross margin was 87%, compared with 85% a year earlier.

In afternoon trading, SMTS shares are down 1.89%, or $0.37, at $19.18. Over the last 52 weeks, shares have ranged from $16.08 to $23.63.