Tag - Sncr

Two services-related companies and a little-known Chinese coal miner were among the best-performing small-cap stocks on Tuesday. The day marked by President Barack Obama signing off on a bill resolving the federal government's debt ceiling crisis. Wall Street's response was negative, indicating disfavor about the nation's economic health.

There was little to cheer about for stocks, as the Dow Jones Industrials fell for an eighth straight day. The Standard & Poor's Small-Cap 600 has closed lower for the same number of trading sessions, while the Russell 2000 Index is on a seven-day losing skid.

Synchronoss Technologies Inc. (Nasdaq:SNCR), Meadowbrook Insurance Group (Nasdaq:MIG) and Volcano Corp. (Nasdaq:VOLC) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CardioNet Inc. (Nasdaq:BEAT), American Woodmark Corp. (Nasdaq:AMWD), TeleCommunication Systems Inc. (Nasdaq:TSYS), Energy Solutions Inc. (Nasdaq:ES), FreightCar America Inc. (Nasdaq:RAIL) and Universal Electronics Inc. (Nasdaq:UEIC).

Small-cap stocks pushed higher early Friday as investors chose a “glass half full” approach to this morning’s dreary employment data, hoping that the bad news will push lawmakers to move quickly next week to bolster the economy. At 9:54 a.m. ET, the Russell 2000 (NYSE:IWM) was up 6.44, or 1.41% at 461.52.

The employment report showed a decline in non-farm payrolls of 598,000 jobs, which was above the consensus projection for a decline of 525,000, but in line with some of the high “whisper” numbers making the rounds in recent days. The 598,000 figure marks the largest monthly decline in payrolls in 34 years, and the unemployment rate climbed to 7.6%, the highest level in 16 years.

By any measure, the jobs report presented a bleak picture of the U.S. economy, but there were some thoughts that the dismal reading will simply prod lawmakers to be more aggressive in agreeing to a big stimulus package. Our neighbors north of the border are sharing in the pain as well – Canadian job losses for January were the worst since their data history began back in 1976...

Small-cap stocks jumped higher on the opening, bolstered by investor hope that yet another government cash infusion into Bank of America will stabilize a shaky situation in the financial arena. Bank stocks, mining companies, chipmakers and automobile manufacturers were up in overseas action, setting the stage for an extension of the bounce in U.S. markets Thursday afternoon. Some of today’s small-cap gainers were American Vanguard Corp.  (NYSE:AVD), Cryptologic (Nasdaq:CRYP) and Red Robin Gourmet Burgers (Nasdaq:RRGB).

Other Market Watch highlights today included:

• The yield on benchmark 10-year notes was up 8% early on, climbing back to 2.37% after slipping below 2.2% Thursday.   South Africa, a major exporter of commodity goods, saw their stock market upgraded this morning by Morgan Stanley analysts.  
• Shortly after the open, the greenback was down about 1.4% against the euro, which should help not only crude oil, but a host of commodity markets.  
• Crude oil was lower in European trading ahead of the stock market open, but rallied about $1 a barrel by the opening. 

Small Cap Gainers:

• American Vanguard Corp. will move into the S&P SmallCap 600 index; the agriculture products company rallied 12% on the news. See (NYSE:AVD).  
• Cryptologic up 6% in pre-market after announcing it will outsource its online poker network by end Q1 2009. See (Nasdaq:CRYP). 
• Red Robin Gourmet Burgers up 3.4%, paring some of the dramatics losses the stock saw on Thursday. See (Nasdaq:RRGB).
• Synchronoss Technologies up 2.2% ahead of its Q4 and fully year 2008 earnings release on Feb. 5. See (Nasdaq:SNCR).  

Small Cap Losers:

• Belden Inc. was off 12%, fueled by news that the electronics maker updated the outlook. See (NYSE:BDC).  
• Elizabeth Arden Inc. tumbled 13% as preliminary quarterly results were below expectations and the beauty products firm slashed the outlook for the upcoming quarter. See (Nasdaq:RDEN).  
• Rochester Medical drops 9% after reaching a settlement with Tyco Healthcare Group. See (Nasdaq:ROCM).  
• Meridian Bioscience, Inc. falls 10% in pre-market after issuing Q1 2009 guidance below analysts' expectations. See (Nasdaq:VIVO).

Small-cap stocks pushed higher on the opening, maintaining an early gain on a jump in consumer confidence that helped counter absolutely dreadful reports on the housing market. Some of today’s small-cap gainers are Highland Steel & Vanadium Corp. Ltd. (Nasdaq:HSVLY), TechTarget Inc.(Nasdaq:TTGT) and Synchronoss Technologies (Nasdaq:SNCR).

Other Market Watch highlights today included:

• In overnight trading, European shares were slightly firm, but Asia stocks took a hit, with car makers still in the spotlight.  
• Despite the gloomy home news, consumer confidence as seen in the Michigan sentiment survey rose to 60.1, better than the forecast of 58.6.  
• The truly scary news came from the existing home sales data, which showed sales at an annual rate of 4.49M units, off the 4.93M forecast.  
• The new home sales report came in at an annualized rate of 407,000 units, which was below the forecast for 415,000. 

Small Cap Gainers:

• Highland Steel & Vanadium Corp. Ltd. jumped 12% and shows promising bottoming action on daily charts as the South African steel maker struggles to recover off the November lows. See (Nasdaq:HSVLY).  
• TechTarget Inc. was up nearly 10% as the IT media firm tries to sustain a nice rally off the November lows. See (Nasdaq:TTGT).  
• Synchronoss Technologies up 5% following a raised price target last week. See (Nasdaq:SNCR).
• Loral Space and Communications Inc. was up 2.8% trying to recoup some of the big slide Monday. See (Nasdaq:LORL).  

Small Cap Losers:

• American Greetings Corp. slumped 21% as the greeting card company took an earnings-related hit. See (NYSE:AM).  
• AgFeed Industries dips over 3% on very light volume. See (Nasdaq:FEED).  
• The Men's Wearhouse declines 3%, extending Monday's dramatic fall. See (NYSE:MW).
• Krispy Kreme Doughnuts dips on light volume, hovering near a 52-week low of $1.76. See (NYSE:KKD).  

 

 

Shares of Synchronoss Technologies, Inc. (Nasdaq:SNCR) took a dive out of the gate after the provider of on-demand transaction management software posted a 35% decline in second-quarter earnings after Tuesday’s close. Revenues also declined in the quarter as results were materially impacted by reduced revenue associated with the Apple iPhone.

Shares dived 16.6%, or $2.05, to $10.30 out of the gate. For detailed price information and recent news stories about Synchronoss Technologies, click SNCR. 

ILOG ADR (Nasdaq:ILOG), Synchronoss Technologies Inc (Nasdaq:SNCR) and Idera Pharmaceuticals Inc (Nasdaq:IDRA) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: South Finl Group (Nasdaq:TSFG), Hain Celestial Group Inc (Nasdaq:HAIN), Gilat Satellite Networks Ltd (Nasdaq:GILT), Pacer International Inc (Nasdaq:PACR), American Pacific Corp (Nasdaq:APFC) and Cal-Maine Foods Inc (Nasdaq:CALM).

Here are the most actively traded companies among small caps:

Intervest Bancshares Corp (Nasdaq:IBCA), CompuCredit Corp (Nasdaq:CCRT) and FirstFed Financial Corp (Nasdaq:FED) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Synchronoss Technologies Inc (Nasdaq:SNCR), Downey Financial Corp (Nasdaq:DSL), Amcore Financial Inc (Nasdaq:AMFI), Gaiam Inc (Nasdaq:GAIA), Rainier Pacific Financial Group (Nasdaq:RPFG) and General Finance Corp (Nasdaq:GFN).

Here are the new 52-week lows among small caps:

CompuCredit Corp (Nasdaq:CCRT), CMGI Inc (Nasdaq:CMGI) and Wireless Ronin Technologies Inc (Nasdaq:RNIN) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Synchronoss Technologies Inc (Nasdaq:SNCR), China Security & Surveillance Technology Inc (Nasdaq:CSR), Intervest Bancshares Corp (Nasdaq:IBCA), Palm Inc (Nasdaq:PALM), DrdGold Ltd(Nasdaq:DROOY) and SunLink Health Systems Inc (Nasdaq:SSY).

Here are the biggest percentage losers among small caps:

Small-cap stocks plunged on the opening, pulled down by hawkish inflation comments overnight from Federal Reserve Chairman Ben Bernanke, who said that the central bank will resist rising long-term inflation. His comments stoked stagflation fears and sent a shiver through already embattled financial shares, which fear higher interest rates. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was off 4.77, or 0.65%, at 730.48.

Bernanke also said that the risk of a substantial downturn in the economy has eased, which hints that the Fed has shifted into a “fight inflation” mode. If so, then the next move from the Fed could be a rate hike, which would raise the price of money, boost rates and seemingly support the U.S. dollar. Indeed, the greenback jumped overnight on the Bernanke remarks, climbing to three-month highs against the yen, and rising about 0.9% versus the euro. The dollar managed to remain higher despite a sloppy monthly trade report, which showed the U.S. deficit climb to $ 60.9 billion, above the forecast for a deficit of $59.9 billion.

Despite the jump in the U.S. dollar this morning, crude oil prices were higher, rising back above $137 overnight as supply jitters countered softer demand from lofty prices. The OPEC Secretary General said the energy market was “panicking” and that there was no shortage of oil now or in the future. That said, Russia’s Gazprom, which supplies a quarter of Europe’s natural gas, predicted crude oil prices could double within 18 months, reaching $250 dollars a barrel in 2009. Right into the U.S. stock market opening, crude oil prices did pull off the highs, and gold was down $2 dollars. As the day progresses, it will be interesting to see if commodity markets are shaken by the Fed’s heightened inflation focus and the upside pop in the dollar. From a long-term perspective, the dollar is still historically low, which bolsters demand for many commodity goods that are priced in dollar units.

Right now, investors are concerned that the United States could limp into a stagflation stage in which high prices combine with a stagnant economy to cripple corporate input costs and rob consumer purchasing power. These fears are also surfacing at a time when small caps are coming off six-month highs, perhaps providing a higher . . .

Third Wave Technologies Inc (Nasdaq:TWTI), Sequenom Inc (Nasdaq:SQNM) and HireRight Inc (Nasdaq:HIRE) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

CMGI Inc (Nasdaq:CMGI), Crocs Inc (Nasdaq:CROX) and TASER International Inc (Nasdaq:TASR) are also among the most actively traded companies.

Synchronoss Technologies Inc (Nasdaq:SNCR), UAL Corp (Nasdaq:UAUA) and National Coal Corp (Nasdaq:NCOC) were additionally included among the results.

Here are the most actively traded companies among small caps:

Synchronoss Technologies Inc (Nasdaq:SNCR), DrdGold ADR (Nasdaq:DROOY) and Ricks Cabaret International Inc (Nasdaq:RICK) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $750 million.

True Religion Apparel Inc (Nasdaq:TRLG), China Technology Development Group Corp (Nasdaq:CTDC) and EMCORE Corp (Nasdaq:EMKR) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Emcore Corp (Nasdaq:EMKR), Akeena Solar Inc (Nasdaq:AKNS) and China Direct Inc (Nasdaq:CDS) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $750 million.

Synchronoss Technologies Inc (Nasdaq:SNCR), Nighthawk Radiology Holdings Inc (Nasdaq:NHWK) and China Technology Development Group Corp (Nasdaq:CTDC) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Small-cap stocks took a tumble Wednesday, rattled by another record high in crude oil prices which could stunt an already tenuous economic recovery in the U.S by crimping consumer spending and raising costs for businesses. The Russell 2000 (NYSE:IWM) lost 13.57, or 1.86%, closing at 716.21.

The relentless advance in crude oil prices saw the market shoot up to $123 dollars a barrel Wednesday, stoked by ongoing jitters about supply out of Africa and geopolitical tensions in the Middle East. In addition, tight diesel stocks on the weekly Energy Information Administration report fueled additional buying in the energy arena. With national pump prices around $3.50 a gallon and the summer driving season peak still ahead of us, consumers likely will be in a dour mood about the prospect of even higher prices on the horizon.

Equities got an early boost this morning into the opening when the productivity report came in above expectations, up 2.2% versus the forecast for a gain of 1.6%. The market has seen a run of recent economic numbers that have topped the projection, but with equities knocking on the door of four-month highs, it didn’t appear to be enough good news to sustain the run.

In addition, the U.S. dollar shot higher against the euro, which has been a supportive element for equities lately — on the rare instances when the greenback mounts a rise against the euro.

However, some traders saw the dollar’s gain as being more indicative . . .

OraSure Technologies Inc (Nasdaq:OSUR), Synchronoss Technologies Inc (Nasdaq:SNCR) and Thomas Weisel Partners Group Inc (Nasdaq:TWPG) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $750 million.

Greatbatch Inc (Nasdaq:GB), Independent Bank Corp (Nasdaq:IBCP) and TierOne Corp (NYSE:TONE) are also among the new 52-week lows.

Here are the new 52-week lows among small caps:

After rising during morning trading, the Russell 2000 (NYSE:IWM) hit resistance at 733.59 at 10:45 a.m. ET, and has continued to slide in Wednesday’s trading action. At 1:59 p.m. ET, the Russell was down 6.12, or 0.84%, at 723.67.

Federal Reserve Bank of Kansas City President Thomas Hoenig gave the bears support after he said late Tuesday that inflationary pressures “now stand at unacceptably high levels.” Hoenig is not a current voting member of the policy-making Federal Open Market Committee. U.S. consumers are feeling the pinch on their wallet, especially with oil prices surging to record highs. In recent trading, June crude oil contracts were up $1.51 to $123.35 a barrel.

A rising U.S. dollar combined with a positive productivity report kept investors bullish during early trading. In afternoon trading, the greenback is up to $1.5387 versus the euro. The U.S. dollar closed at $1.5524 against the Euro on Tuesday.

Also encouraging the bulls was the Labor Department’s Wednesday morning announcement that non-farm business productivity increased at an annual rate of 2.2% during the first quarter. Economists anticipated a 1.5% increase. Unit labor costs rose slower than expected at an annual rate of 2.2%, compared with . . .

Synchronoss Technologies Inc (Nasdaq:SNCR), Kenneth Cole Productions Inc (Nasdaq:KCP) and OraSure Technologies Inc (Nasdaq:OSUR) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $750 million.

ExlService Holdings Inc (Nasdaq:EXLS), Irwin Financial Corp (Nasdaq:IFC) and Greatbatch Inc (NYSE:GB) are also among the biggest percentage losers.

Here are the biggest percentage losers among small caps:

Synchronoss Technologies, Inc. (Nasdaq:SNCR) shares are in a downward spiral after the Bridgewater, N.J.-based communications software maker forecasted second-quarter earnings in the range of $0.10 to $0.11 per share. Wall Street analysts expect earnings of $0.19 per share. Synchronoss gets paid for each iPhone activated with a carrier that officially provides service for the device. The firm said late Tuesday that the practice of “unlocking” iPhones – which does not provide the company with revenue – is a significant problem.

The company also said it projects second-quarter revenue of between $24 million and $25 million. Wall Street is looking for $35.2 million in revenue.

Small-cap stocks pushed higher in early trading action, lifted by a surge in the U.S. dollar, and by yet another economic report that surprised on the upside. At 9:54 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1.52, or 0.21%, at 731.31.

The greenback was on a roll this morning, gaining about 0.9% versus the euro, which would put the buck on a pace to close at the highest level since late March. Dollar strength also was noted against the yen, with dollar/yen rates up nearly 0.7% into the U.S. stock market opening.

Equities markets were lower in after-hours trading, but started to move toward the green after the monthly productivity report beat expectations. The headline figure for productivity came in at a gain of 2.2%, which was above the forecast for a rise of 1.6%. Typically, the productivity report has only a modest impact on stocks, but it did appear to move the S&P 500 about four handles. Perhaps of greater significance is that the productivity report was yet another economic release that topped the forecast, feeding good news to a market that might need it with small caps closing at 13-week highs Tuesday. There’s an old saying in the market that “you have to feed a bull, not necessarily a bear.”

Despite the jump in the U.S. dollar, crude oil prices were still hovering in rare air after setting record intraday and closing price values Tuesday. Amid supply concerns out of Africa, geopolitical strife in the Middle East and analyst forecasts calling for sharp gains in crude oil in coming months, “black gold” remains strong and . . .

Synchronoss Technologies Inc (Nasdaq:SNCR), Rubicon Technology Inc (Nasdaq:RBCN) and United Online Inc (Nasdaq:UNTD) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $750 million.

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Vasco Data Security International Inc (Nasdaq:VDSI) and Gulfport Energy Corp (Nasdaq:GPOR) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

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


• POZEN Inc. (Nasdaq:POZN), up 41% on news its migraine drug has won approval from the U.S. Food and Drug Administration.
• CV Therapeutics, Inc. (Nasdaq:CVTX), up 20% on news it has sold the rights to one of its drugs.
• AgFeed Industries, Inc. (Nasdaq:FEED), up 8% on news it has purchased majority stakes in commercial hog farms in southern China.


• National Coal Corp. (Nasdaq:NCOC), down 3% despite news of a narrower fourth-quarter loss.
• NutriSystem Inc. (Nasdaq:NTRI), down 2%.
• Synchronoss Technologies, Inc. (Nasdaq:SNCR), down 1%.

The Russell 2000 (NYSE: IWM) has recovered from its morning losses despite news of weak economic reports and more credit worries.

At 12:11 p.m. ET, the small-cap index was up 2.57 points, or 0.39%, to 669.88. The Dow Jones Industrial Average (INDU) was down 42.41 points, or 0.35%, to 12,067.83.

An affiliate of private equity investment firm Carlyle Group is unable to repay more than $16 billion of debt and expects its assets to be seized by lenders, according to news reports. Additionally, the U.S.-based Carlyle Group said after the close on Wednesday that it has suffered a drop in its mortgage investments and has not been able to negotiate a refinancing deal with lenders.

The possibility that the Carlyle Group, which has more than $75 billion under management, could collapse underscores the destructive power of the credit squeeze.

In economic news, the U.S. Commerce Department reported before the start of trading that retail sales unexpectedly fell in February, fueling recession worries. Shortly before 11 a.m. ET, the Russell 2000 was down more than 12 points, or close to 2%, before reversing its decline.

The Dow is cruising toward another record close while the Russell 2000 is sagging in midday trading.  In small cap action, a sharp drop in revenue is hurting shares of Openwave Systems Inc. (Nasdaq: OPWV), while shares of Synchronoss Technologies, Inc. (Nasdaq: SNCR) got a lift on news its quarterly profit doubled.

At 2:30 p.m. ET the Russell 2000 had lost 2.84 points, or 0.34 percent, to 830.96.  The Dow Jones Industrial Average was up 29.58 points, or 0.23 percent, to 13,135.08.  That’s above Thursday’s record close of 13,105.50.

Shares of Rackable Systems Inc. (Nasdaq: RACK) dipped $0.56, or 4.5%, to $12.02 in after-hours trading today after the Milipitas, Calif.-based provider of servers and storage products missed analysts’ estimates for the first quarter. Rackable Systems posted a non-GAAP net loss of $3.6 million, or $0.13 per share, on revenue of $72 million for the first quarter ended March 31. Eight analysts polled by Thomson First Call were expecting a net loss of $0.05 per share on revenue of $73.5 million. CEO Tom Barton said the quarter was challenging because of aggressive pricing from competitors for orders at the firm’s top three accounts.

Synchronoss Technologies Inc. (Nasdaq: SNCR) soared $2.54, or 13.6%, to $21.20 in after-hours trading today after the company beat analysts’ earnings estimates for the first quarter. The Bridgewater, N.J.-based transaction management software firm reported non-GAAP earnings $4 million, or $0.12 a share, on revenue of $21.3 million for the three months ended March 31. Four analysts polled by Thomson First Call were expecting earnings per share of $0.10 on revenue of $21 million. Synchronoss cited the shift toward converged services as being partly responsible for the results. The company also said business from its largest customer, AT&T (NYSE: T), grew by 30% when compared with last year’s first quarter.

After closing up 8% on the heels of an analyst upgrade, Secure Computing Corp. (Nasdaq: SCUR) slid $0.33, or 3.8%, to $8.31 in after-hours trading today after reporting first quarter results. The San Jose, Calif.-based security software firm reported non-GAAP net income of $3.4 million, or $0.05 per share, on revenue of $60.5 million for the first quarter. Twelve analysts polled by Thomson First Call were expecting earnings per share of $0.03 on revenue of $60.4 million. Earlier in the day, Goldman Sachs upgraded the stock from “sell” to “neutral.”