Tag - Spec

Mercury Computer Systems Inc. (Nasdaq:MRCY), Protalix BioTherapeutics Inc. (Nasdaq:PLX) and Santander Bancorp (Nasdaq:SBP) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Spectrum Control Inc. (Nasdaq:SPEC), Amicus Therapeutics Inc. (Nasdaq:FOLD), Fox Chase Bancorp Inc. (Nasdaq:FXCB), Citizens Inc. (Nasdaq:CIA), Wilshire Bancorp Inc. (Nasdaq:WIBC) and Midsouth Bancorp Inc. (Nasdaq:MSL).

Isramco Inc. (Nasdaq:ISRL), Dollar Thrifty Automotive Group Inc. (Nasdaq:DTG) and Rentrak Corp. (Nasdaq:RENT) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Anaren Inc. (Nasdaq:ANEN), BioScrip Inc. (Nasdaq:BIOS), American Capital Agency Corp. (Nasdaq:AGNC), Spectrum Control Inc. (Nasdaq:SPEC), ClickSoftware Technologies Ltd. (Nasdaq:CKSW) and Noven Pharmaceuticals Inc (Nasdaq:NOVN).

Small-cap stocks hovered near steady levels into mid-session trading, up from the morning lows amid optimism over the fiscal stimulus plans that were put into greater detail today by President-elect Obama. The stimulus cheer helped offset gloom over sloppy retail sales from discount giant Wal-Mart, which put an early pall on the morning activity. At 12:23 p.m. ET, the Russell 2000 (NYSE:IWM) was up 0.27, or 0.05% at 497.36, outperforming the Dow and S&P 500.

Wal-Mart’s same-store sales were up in December, but short of expectations, which rekindled worries about consumer spending in the recession. Wal-Mart Stores Inc. (NYSE:WMT) was one of the few bright spots during 2008, but if discounters start to struggle, does that mean rising unemployment is forcing consumers to close their wallets altogether right now?

Speaking of unemployment, today’s weekly claims data served up a bullish surprise for the second consecutive week, with the headline figure coming in at 467,000, some 75,000 below the forecast. However, continuing claims were at 26-year highs, which took some of the bullish edge off the number. The market is still bracing for a potential ...

thinkorswim Group Inc. (Nasdaq:SWIM), Conn's Inc. (Nasdaq:CONN) and United Community Bancorp (Nasdaq:UCBA) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Spectrum Control Inc. (Nasdaq:SPEC), Emergent Group Inc. (Nasdaq:LZR), EnerNOC Inc.(Nasdaq:ENOC), Crosstex Energy Inc. (Nasdaq:XTXI), Stewardship Financial Corp. (Nasdaq:SSFN) and Palm Harbor Homes Inc. (Nasdaq:PHHM).

Internet Gold-Golden Lines Ltd (Nasdaq:IGLD), Community Valley Bancorp (CA) (Nasdaq:CVLL) and Maguire Properties Inc (Nasdaq:MPG) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ARYx Therapeutics Inc (Nasdaq:ARYX), Spectrum Control Inc (Nasdaq:SPEC), Park View Federal Savings Bank (Nasdaq:PVFC), Cash America International Inc (Nasdaq:CSH), Marten Transport Ltd (Nasdaq:MRTN) and Waccamaw Bankshares Inc (Nasdaq:WBNK).

Here are the biggest percentage gainers among small caps:

Small-cap stocks took flight Monday, with the Russell 2000 (NYSE:IWM) climbing to the highest daily close since Jan. 3, as investors shifted out of a range of other assets to pour money into equities. In addition, the rally likely triggered a wave of buy-stop orders from shorts that were unwilling to take a stand as the market once again approached fresh move highs. The Russell finished out Monday’s action up 13.18, or 1.83%, at 733.23.

The market appeared to embrace overnight gains in overseas equities, especially a rise in the largest European bank, HSBC, which was seen as a sign that the credit crunch worries are subsiding. On the U.S. side of things, Bank of America (NYSE:BAC) was up over 2.2%, but Citigroup (NYSE:C) shares struggled to hold ground. In addition, there was a renewed gush of merger giddiness on reports that Electronic Data Systems (NYSE:EDS) was a takeover target for Hewlett-Packard Co. (NYSE:HPQ). EDS was up nearly 28% before an afternoon trading halt, while HPQ was off about 5%.

Small-cap issues clearly paced the way on Monday’s rally, a move that was foreshadowed Friday when small caps eked out a minor gain even though large-cap indices lagged in the red. In recent years, small caps have tended to lead the way on rally moves, especially during the bull market run from 2002 to 2007.

The dollar jumped against the yen, but lost ground versus the euro. In all, the currency market action Monday appeared to be a net positive for equities, with some traders explaining away the lost ground against euro as a result of carry trades into high yielding FX markets.

Stock market investors also appeared to breathe a sigh of relief that crude oil prices were tame to start the week, with crude oil down about $2 a barrel from a fresh morning record peak. Given a large mass of economic data still to come this week, it will be interesting to see if equities can look past the crimped consumer purchasing power stoked by record-high energy prices.

Speaking of the data smorgasbord, the first big number of the week comes out Tuesday morning in the form of retail sales. In addition, Federal Reserve Chairman Ben Bernanke will speak on liquidity measures before the opening. With more . . .

The Russell 2000 (NYSE: IWM) futures are pointing down and the small-cap index will open lower on news of weak retail sales.

Small-cap stocks are set for a bearish opening following news of weak December retail sales. Among the big name retailers seeing disappointing sales is Target Corp. (NYSE: TGT), which reported that net sales for the five weeks ended Jan. 5 increased a paltry 0.1%, compared with 0.6% a year earlier.

Weak retail sales could be a sign of a decline in consumption, a development which could have negative consequences for economic growth since consumption is about 70% of U.S. gross domestic product.

Elsewhere, investors will be paying attention to a speech by U.S. Federal Reserve Chairman Ben Bernanke at 1 p.m. ET.

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


• Spectrum Control, Inc. (SPEC), up 5% on news of a positive business outlook for fiscal 2008.
• LanOptics Ltd. (LNOP), up 4%.
• O2Micro International Ltd. (OIIM), up 3%.


• West Marine, Inc. (WMAR), down 7% on news of a decline in fourth-quarter same-store sales.
• CV Therapeutics, Inc. (CVTX), down 6%.
• Canadian Solar Inc. (CSIQ), down 6%.

 

A strong rally in the last hour of trading lifted the Russell 2000 (NYSE: IWM) and the other major U.S. indices in the green. The small-cap index rose 7.26 points, or 1.03%, to 712.12. The Dow Jones Industrial Average (INDU) added 146.24 points, or 1.16%, to 12,735.31.

On a year-to-date basis, the Russell 2000 has lost 7.04%, while the Dow is down 3.99% and the S&P 500 has declined 4.03%.

An uneven day of trading ended on a bullish note as investors went hunting for bargains late in the session.

Small-cap stocks had no clear direction much of the time, as the bears and bulls struggled and sought to gain a perspective on the state of the U.S. economy. The Russell 2000 spent the early morning near the flat line but slipped and fell at about 11:30 a.m. ET. It bottomed out shortly after 2 p.m. ET as investors reacted to news that Goldman Sachs Group Inc. (NYSE: GS) is predicting a recession.

The New York-based investment bank wrote in a note to its clients that it expects gross domestic product to decline in the second and third quarters, prompting the Fed to keep lowering the federal funds rate until it hits 2.5%.

The federal funds rate, the rate at which commercial banks make overnight loans to each other, currently stands at 4.25%.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices have fallen deep into negative territory as economic concerns take center stage. At 2:46 p.m. ET, the small-cap index was down 9.55 points, or 1.35%, to 695.31. The Dow Jones Industrial Average (INDU) had lost 27.56 points, or 0.22%, to 12,561.51.

The U.S. economy will experience a recession this year and the Federal Reserve will respond with aggressive rate cuts, according to Goldman Sachs Group Inc. (NYSE: GS). The New York-based investment bank wrote in a note to its clients that it expects gross domestic product to contract in the second and third quarters, prompting the Fed to lower the federal funds rate to 2.5%.

The federal funds rate, the rate at which commercial banks make overnight loans to each other, was lowered on Dec. 11 to 4.25% from 4.50%. On Jan. 29, the Fed begins a two-day meeting, with most economists currently expecting that it will not move to cut interest rates before then.

However, William Poole, president of the Federal Reserve Bank of St. Louis, does not see a recession.

“Will housing sector problems push the economy into recession?” Poole asked the Financial Planning Association of Missouri and Southern Illinois in a speech earlier today. “It is too early to tell right now.”

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are moving up and down with no clear direction.
 
At 10:27 a.m. ET, the small-cap index was down 1.88 points, or 0.27%, to 702.98. The Dow Jones Industrial Average (INDU) was up 37.23 points, or 0.30%, to 12,626.30.

With little news on the economic front, stocks are looking for meaning and direction in today’s trading.

The Mortgage Bankers Association reported before the start of trading that mortgage loan application volume for the week ended Jan. 4 increased 32.2%. But the statistics are misleading, because the preceding included the Christmas and New Year holidays.

The four-week moving average, a more stable measure, is down 4.1% to a reading of 624.4 from 650.8.

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

Biggest percentage gainers:

• BabyUniverse, Inc. (KIDS), up 17%.
• Tredegar Corp. (TG), up 13%.
• ICF International, Inc. (ICFI), up 12% on news of an analyst upgrade.

Biggest percentage losers:

• Spectrum Control, Inc. (SPEC), down 36% an analyst has reduced the stock’s target price.
• Premier Exhibitions, Inc. (PRXI), down 22% on news it expects fiscal 2008 earnings to be below expectations.
• West Coast Bancorp (WCBO), down 13% on news it will suffer a pre-tax provision for credit losses of $30 million.

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

Today will be a quiet day, with little news on the economic or corporate front. The Mortgage Bankers Association will reveal numbers on mortgage application volume for the week ended Jan. 4, but that measure typically gets little reaction from investors.

Overseas, the United Kingdom’s FTSE 100 index fell 1.4%, while Japan’s Nikkei 225 index climbed 0.5%.

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:

• Epicor Software Corp. (EPIC), up 15% on news it forecast fourth-quarter revenue above expectations.
• Triad Guaranty Inc. (TGIC), up 12%.
• Isle of Capri Casinos, Inc. (ISLE), up 12%.

Biggest percentage losers:

• InfoSpace, Inc. (INSP), down 49%.
• Premier Exhibitions, Inc. (PRXI), down 31%.
• Spectrum Control, Inc. (SPEC), down 15% on news that fourth-quarter earnings were below analysts’ expectations.

Troy, N.C.-based First Bancorp (Nasdaq: FBNC) announced it is buying Great Pee Dee Bancorp Inc. (Nasdaq: PEDE) for approximately $38.2 million in a stock-for-stock deal.

Qiao Xing Universal Telephone Inc. (Nasdaq: XING) announced it’s filing its FY06 report on July 16.

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

Atlanta-based Web.com, Inc. (Nasdaq: WWWW), a website hosting company, reported it is being acquired by Website Pros Inc. (Nasdaq: WSPI) for about $129 million in a cash and stock deal.

Spectrum Control, Inc. (Nasdaq: SPEC), a maker of electronic components for communications and aerospace equipment, said after Tuesday’s closing bell it expects third-quarter earnings per share to be up more than 57%.

Morgan Keegan upgraded home products retailer Cost Plus, Inc. (Nasdaq: CPWM) to “market perform” from “underperform.”

Shares in Playboy Enterprises, Inc. (NYSE: PLA) are up after the entertainment company announced it is opening a 40,000-foot club in Macau in 2009 as part of a plan to expand into China.

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

The U.S. Food and Drug Administration has recommended that Vasogen Inc. (Nasdaq: VSGN) conduct a confirmatory study to support a pre-market approval filing for the drug Celacade, which treats chronic heart failure, the Canadian biotechnology company announced this morning. Shares are up $0.16, or 7%, to $2.35.

Jones Soda Co. (Nasdaq: JSDA) has entered into an agreement with two Japanese companies and one American company for the exclusive rights to use PHARMA GABA, a naturally produced form of an amino acid, the Seattle-based soda maker said after Tuesday’s close. The stock had added $1.02, or 7%, to $14.85.

cFor the three months ended May 31, 2007, Spectrum reported net income of $2.8 million or $0.21 per share on sales of $33.6 million, compared with net income of $1.7 million or $0.13 per share on sales of $31.9 million for the second quarter last year.

An analyst surveyed by Thompson Financial expected earnings of $0.18 per share.

"During the current quarter, full production was achieved at our new ceramic manufacturing facility in State College, Pa.,” said Spectrum Control’s CEO Dick Southworth. “With operating efficiencies and productivity at our new State College facility expected to further improve throughout the year, we believe our company is poised for additional profitability and enhanced shareholder value."

As a result of its State College facility, Spectrum eliminated all purchases of specialty ceramic components from third-party suppliers and significantly decreased material costs.

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