Tag - Ssrx

Oncothyreon Inc. (Nasdaq:ONTY), LCA Vision Inc. (Nasdaq:LCAV) and Valassis Communications Inc. (Nasdaq:VCI) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AirMedia Group Inc. (Nasdaq:AMCN), Gainsco Inc. (Nasdaq:GAN), Telestone Technologies Corp. (Nasdaq:TSTC), 3SBio Inc. (Nasdaq:SSRX), Park-Ohio Holdings Corp. (Nasdaq:PKOH) and General Steel Holdings Inc. (Nasdaq:GSI).

A recent study by China's Ministry of Health and the Ministry of Science and Technology said a combination of smoking, poor diet and rampant pollution has caused the nation's cancer rates to swell 80% in the last 30 years, making the disease the leading cause of death in China today, claiming 1.5 million lives every year.

And according to another report published earlier this month, the nation's growing health woes and aging population have caused health-care expenditures to explode. Total health-care spending in China is expected to rise at a compound annual growth rate of 11% between now and 2012.

It should come as no surprise, given the size of the market and the ongoing debate over Chinese drug safety, that regulators at China's State Food and Drug Administration (SFDA) have intensified their oversight and testing measures for drugs. The regulators plan to work closely with their counterparts in the United States, Europe and Australia to coordinate inspections of factories in China that produce pharmaceutical raw materials.

One Chinese company capitalizing on the spike in health-care spending while avoiding drug safety problems is 3SBio Inc. (Nasdaq:SSRX), a Shenyang-based biopharmaceutical products company that specializes in high-quality, low-cost drugs. In stark contrast to the recent disappointing setbacks experienced by a number of other domestic players and multinational pharmaceutical giants such as Merck (NYSE:MRK) and Schering-Plough (NYSE:SGP), 3SBio is thriving.

The company dominates the domestic market (with close to 40% market share) for the drug Epoetin, commonly referred to as Epo, which is used to treat anemia associated with chemotherapy treatments and kidney dialysis by increasing red blood cell production. 3SBio's protein-based therapeutic recombinant human thrombopoietin (Tpo) products, which are used to treat iron deficiency (another side . . .

The Russell 2000 (NYSE: IWM) futures have edged down and the small-cap index will most likely open with a small decline.

In economic news, the U.S. Labor Department announced this morning that jobless claims for the week ended March 15 increased 22,000 to 378,000.

The Russell 2000 stumbled late Wednesday, finishing down 17.81, or 2.61%, at 664.13, unable to sustain the updraft off Tuesday’s largest one-day gain of the year. In today’s action, support is at 660, then at 654, and critical support is at 650. With the U.S. markets closed Friday for the Good Friday holiday, a weekly close above 650 will be critical for the chart structure, and to keep investors uplifted by the recovery off the lows.

The market could see mild volatility into the opening Thursday. The bigger volatility risk comes at 10:00 a.m. ET with the release of Leading Indicators and the Philly Fed Survey.

Chinese biotechnology company 3SBio Inc. (Nasdaq: SSRX) said after Wednesday’s close that it will purchase up to $20 million of its outstanding American Depositary Shares. Shares gained 6.6%, or $0.50, to $8.10 in pre-market trading.

For detailed price information and recent news stories about 3SBio, click SSRX. 

The Russell 2000 (NYSE: IWM) lost more than the other major U.S. indices as news of disappointing economic reports spread recession fears. The small-cap index declined 13.74 points, or 1.94%, to 696.28. The Dow Jones Industrial Average (INDU) fell 142.96 points, or 1.15%, to 12,284.30.

On a year-to-date basis, the Russell 2000 has declined 9.11%, while the Dow is down 7.39% and the S&P 500 has retreated 8.57%.

Small-cap stocks erased early gains and declined sharply as investors focused on news of a weak economy.

The U.S. Labor Department reported that jobless claims for the week ended Feb. 16 fell 9,000 to 349,000 from the preceding week’s upwardly revised total of 358,000.

Economists were expecting a rise to 349,000 from an originally reported 348,000.

However, the more stable four-week measure increased 10,750 to 360,500, the highest average in more than two years.

“The jobless claims number is consistent with a softening labor market,” said Arun Raha, vice president of Economic Research and Consulting for the North American operations of reinsurance company Swiss Re, in an email. “Firms have moved from not hiring to laying off workers.”

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

The bulls are poised for action on news that networking products maker and tech sector heavyweight Cisco Systems Inc. (Nasdaq: CSCO) received an analyst upgrade.

In economic news, the U.S. Labor Department reported that jobless claims for the week ended Feb. 16 fell 9,000 to 349,000 from the preceding week’s upwardly revised total of 358,000.

Economists were expecting a rise to 349,000 from an originally reported 348,000.

The Russell 2000 posted an impressive recovery rally off the morning slide Wednesday, notching a bullish reversal on daily chart patterns in the process. The index finished up 7.68, or 1.09% at 710.02. If the market can sustain upward momentum today, resistance comes in just overhead at 712, then at 721 and 731. Meanwhile, support is at 695, 688 and 680.

It will be interesting to see if the market can once again rise after morning economic data, as traders will have to navigate Leading Indicators and Philly Fed releases at 10:00 a.m. ET.  

Genesco Inc. (NYSE: GCO), HSW International, Inc. (Nasdaq: HSWI) and Hardinge Inc. (Nasdaq: HDNG) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

After a spate of food, drug and product safety recalls from China has left the nation's reputation in tatters among trading partners, one might think all the negative publicity would have shaken confidence in the country's pharma industry. It hasn't.

To allay Western concerns, Beijing, which wants a healthy pharmaceutical industry, has pledged $1.2 billion to clean up its food and drug safety problems. China's State Food and Drug Administration, which has a regulatory system similar to the U.S. Food and Drug Administration, is being reformed to improve safety standards and crack down on corrupt practices and drug counterfeiters (the Chinese media has reported the agency has yanked hundreds of manufacturing licenses and stepped up facility inspections).

Lower costs, top scientific talent and access to one of the world's largest and fastest-growing markets for prescription drugs have led every Big Pharma company—including Pfizer Inc. (NYSE: PFE), GlaxoSmithKline (NYSE: GSK), Bristol-Myers Squibb Co. (NYSE: BMY), Sanofi-Aventis (NYSE: SNY), Britain's AstraZeneca (NYSE: AZN) and Switzerland's Novartis (NYSE: NVS)—to set up shop in China.

But international heavyweights aren't the only ones vying to tap China's rich drug market. In one niche in the bio-drug sector, a local player dominates rivals. 3SBio Inc. (Nasdaq: SSRX), a leading producer of high-quality, low-cost biopharmaceuticals, has cornered the market in China for the biologic drug Epoetin, known as Epo, which is used to treat anemia associated with chemotherapy and kidney dialysis by increasing production of red blood cells.

Similar to Amgen Inc.'s (Nasdaq: AMGN) wildly popular Eopgen, 3SBio's flagship Epo product, sold under the brand name Epiao, makes up 37% of the Chinese market in product sales. (Amgen's product, distributed in China under the name Espo, has 15% market share; Swiss pharmaceutical company Roche's Epo drug, Recormon, has 10%.) Epogen sales, which are growing 30% annually, account for about 70% of 3SBio's total revenue.

Tpiao, 3SBio's second best-selling product, is used to treat platelet deficiency, a side effect of chemotherapy treatment. Since its January 2006 launch, the drug has sold unchallenged with no known competition in China. Analyst Kimberly Lee of Pacific Growth Equities estimates the drug will rake in $4.8 million in fiscal 2007 and could see sales grow in the neighborhood of $29 million in five years.

China-based biotechnology company 3SBio Inc. (Nasdaq: SSRX), after Tuesday’s close reported a strong third quarter, well ahead of analysts’ estimates, due to top-line growth in the company’s EPIAO and TPIAO products.

For the three months ended Sept. 30, the small cap reported revenue rose to 56.1 million yuan (US$7.5 million) from 35.6 million yuan in the same period last year. The current quarter revenue number came in ahead of the Thomson mean estimate of $6.6 million in revenues.
 
Revenues were primarily driven by continued growth in the company’s flagship EPO product, EPIAO, as well as the rapid sales growth in its TPO product, TPIAO.

Net revenues from EPIAO increased by 30.7% in the third quarter 2006 to $4.8 million in the third quarter 2007, resulting from increased EPIAO sales efforts focusing on the growing oncology market in China.

Additionally, net revenues from TPIAO increased 171.6% to $1.9 million in the third quarter 2007. The company’s TPIAO product line was the second largest contributor to revenue for the quarter. TPIAO accounted for 25.3% of total net revenues for the third quarter, compared with 14.6% in the third quarter 2006.

3SBio recorded net income of 24.1 million yuan (US$3.2 million), or $0.15 cents per ADS, compared with 9.6 million yuan, or $0.67 per ADS in the third quarter of 2006. The Thomson Financial mean estimate was for earnings of $0.12 per share. Net income was driven by an increase in interest income from the company’s enhanced cash position since its IPO.

The company also specified that its income tax expense increased by 59.8% to $0.3 million for the third quarter as a result of the company’s increased profitability. The effective tax rate was 8.4% for the third quarter 2007, lower than the 12.7% for the prior year period, because of more interest income earned from its enhanced cash position after its IPO that was not subject to tax.

As a result, net income increased by 151.4% to 24.1 million yuan (US$3.2 million) for the third quarter of 2007.

Shares of 3SBio (SSRX) gained $2.34, or 16.35%, to $16.74 at 12:40 p.m. ET. Shares of 3SBio have been trading in the range of $8.18 to $22.75 for the past 52 weeks.

The Russell 2000 (NYSE: IWM) is flat on news of a slowdown in retail sales for October and despite a lower-than-expected increase in producer prices.

At 10:15 a.m. ET, the small-cap index was up 0.49 points, or 0.06%, to 789.64. The Dow Jones Industrial Average (INDU) was up 195.95 points, or 0.01%, to 13,309.04.

Growth in U.S. retail sales slowed to 0.2% in October, the Commerce Department reported before the start of trading. That’s in line with economists’ forecasts but below the upwardly revised increase of 0.7% in September.

The numbers indicate that consumers have become a little more reluctant to spend money due to declining home values and higher gasoline prices. As a result, economic growth will most likely moderate in the fourth quarter of 2007.

Consumption is about 70% of gross domestic product.

Turning to inflation, the U.S. producer price index, which measures the average changes in prices received by domestic producers for their output, increased 0.1% in October. The Labor Department also reported that the core index, which excludes food and energy, stayed put after rising 0.1% in September.

Economists were expecting both measurements to rise 0.2%. The data tells us that inflation remained in check in October.

Overseas, London’s FTSE 100 index added 0.4%, while Tokyo’s Nikkei 225 rose 2.5%.

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

Biggest percentage gainers:

• Greater Community Bancorp. (GFLS) up 37% on news it will be bought by Oritani Financial Corp. (ORIT) for $187 million.
• Canadian Solar Inc. (CSIQ), up 21% on news it swung to a third-quarter profit.
• 3SBio Inc. (SSRX), up 16% on news of a rise in third-quarter earnings.

Biggest percentage losers:

• Basin Water Inc. (BWTR), down 18% on news of a third-quarter loss.
• Oritani Financial Corp. (ORIT), down 15% on news it will buy Greater Community Bancorp (GFLS) for $187 million.
• GateHouse Media Inc. (GHS) down 13% on news of a third-quarter loss.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open in the green on news of a rise in retail sales.

Retail sales in the United States rose 0.2% in October, the Commerce Department reported this morning. That’s in line with economists’ forecasts but below the upwardly revised increase of 0.7% in September.

However, the numbers indicate that retail sales growth has slowed, a sign that consumers have become a little more reluctant to spend money. That indicates that U.S. economic growth will likely moderate in the fourth quarter of 2007.

Consumption is about 70% of gross domestic product.

Retail sales excluding auto and parts rose 0.2% in October, meeting economists’ expectations and matching September’s increase.

On Tuesday, Wal-Mart Stores Inc. (NYSE: WMT) sparked a rally when it reported higher-than-expected third-quarter earnings due to discounts that started two weeks earlier than last year.

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:

• Canadian Solar Inc. (CSIQ), up 28% on news it swung to a third-quarter profit.
• Synovis Life Technologies, Inc. (SYNO), up 19%.
• 3SBio Inc. (SSRX), up 17% on news of a rise in third-quarter earnings.

Biggest percentage losers:

• Northstar Neuroscience Inc. (NSTR), down 10% on news of a slowdown in the regulatory approval process of one of its treatments.
• Oritani Financial Corp. (ORIT) down 6% on news it will buy Greater Community Bancorp (CBON) for $187 million.
• China Techfaith Wireless Communication Technology Ltd. (CNTF) down 5%.

The Russell 2000 (NYSE: IWM) opened in the red on concerns that the U.S. Federal Reserve may not move to lower interest rates.

At 10:45 a.m. ET, the small-cap index was down 1.76 points, or 0.21%, to 819.96. The Dow Jones Industrial Average (INDU) had lost 44.38 points, or 0.32%, to 13,825.88.

Investors are turning their attention to the U.S. Federal Reserve today, which begins a two-day policy meeting.

On Monday, observers were confident that the Fed will cut its target interest rate up to 0.50%, but today an article in The Wall Street Journal is casting doubt on that expectation, claiming that policy makers will likely either cut the federal funds rate 0.25% or leave it unchanged.

The federal funds rate, the rate at which commercial banks make overnight loans to each other, currently stands at 4.75%, after the Fed voted on Sept. 18 to lower it from 5.25%.

The central bank will announce its decision on Wednesday.

In economic news, U.S. consumer confidence continued to fall in October. The Conference Board reported after the start of trading that its index of consumer confidence fell to 95.6 from 99.5 in September.

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF), Fushi International Inc. (Nasdaq: FSIN) and North American Galvanizing & Coatings (Nasdaq: NGA) are among the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

eFuture Information Technology Inc. (Nasdaq: EFUT), Ampex Corp. (Nasdaq: AMPX) and 3SBio Inc. (Nasdaq: SSRX) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage losers:

Shares in The Aristotle Corp. (Nasdaq: ARTL) are up over 11% despite news after Wednesday’s close that the Stamford, Conn.-based company’s CFO and Vice President Dean Johnson intends to sell 13,000 shares before June 16, according to an SEC filing.

TravelCenters of America LLC (AMEX: TA) shares are up more than 8% following the announcement before the start of trading Thursday that Volvo Trucks (Nasdaq: VOLV) sold the Westlake, Ohio-based truck stop operator its 28.86% interest in Petro Stopping Centers. TravelCenters now has a controlling interest in Petro. Petro owns and operates 44 travel centers, franchises 24 and operates one travel center as a joint venture. TravelCenters operates 164 travel centers.

Shares in USA Technologies, Inc. (Nasdaq: USAT) are up more than 10% following an announcement Thursday before trading that Coca-Cola will buy USA’s e-Port wireless non-cash technology for use in vending machines. According to an SEC filing, USA will receive 5% of the cashless revenues and a monthly $9.95 fee per unit for each vending machine using USA’s technology. The Malvern, Penn.-based company said it expects up to 7,500 e-Ports to be installed by August 31.

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

The following companies with market capitalizations under $500 million established new 52-week lows Thursday: