Tag - Star

Smith & Wesson Holding Corp. (Nasdaq:SWHC), Lifeway Foods Inc. (Nasdaq:LWAY) and Starent Networks Corp. (Nasdaq:STAR) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Isramco Inc. (Nasdaq:ISRL), Liberty Media Corp. (Nasdaq:LCAPB), Stamps.com Inc. (Nasdaq:STMP), Franklin Electric Co Inc. (Nasdaq:FELE), Sturm Ruger & Co Inc. (Nasdaq:RGR) and BioSpecifics Technologies Corp. (Nasdaq:BSTC).

PSS World Medical Inc. (Nasdaq:PSSI), Geron Corp. (Nasdaq:GERN) and Palm Inc. (Nasdaq:PALM) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Texas Roadhouse Inc. (Nasdaq:TXRH), Starent Networks Corp. (Nasdaq:STAR), American Medical Systems Holdings Inc. (Nasdaq:AMMD), Sequenom Inc. (Nasdaq:SQNM), TBS International Ltd. (Nasdaq:TBSI) and FreightCar America Inc. (Nasdaq:RAIL).

Barrett Business Services Inc (Nasdaq:BBSI), Trex Co In (Nasdaq:TWP) and American Commercial Lines Inc (Nasdaq:ACLI) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Image Sensing Systems Inc (Nasdaq:ISNS), SAVVIS Inc (Nasdaq:SVVS), Starent Networks Corp (Nasdaq:STAR), Wright Express Corp (Nasdaq:WXS), Hutchinson Technology Inc (Nasdaq:HTCH) and Eagle Test Systems Inc (Nasdaq:EGLT).

Here are the biggest percentage gainers among small caps:

Starent Networks Corp. (Nasdaq:STAR) has risen more than 20% in today’s trading after the infrastructure hardware and software provider posted better-than-expected second-quarter earnings. For the quarter ended June 30, net income was $13.8 million, or $0.19 per share, compared to net income of $3.4 million, or $0.03 per share, for the same quarter a year ago. Revenues were $61.2 million, up 98% from a year ago, the Tewksbury, Mass.-based company said after Tuesday’s close. Analysts were expecting earnings of $0.17 per share on revenues of $57.8 million.

The company said shares were lifted by expansion in its global clientele and the tossing out of a lawsuit alleging patent infringement and trade secret claims. In today’s trading, shares are at $13.93, up $2.37 from Tuesday’s close. The stock has ranged between $10 and $31.67 during the past year.

Small-cap stocks pushed higher this morning, buoyed by a positive surprise on the ADP Employment Report, which heightened investor expectations for a bullish number on this Friday’s big Labor Department monthly employment release. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.91, or 0.83%, at 720.46.

The headline figure on the ADP report was at plus 9,000, which was well above the forecast for a decline of 58,000 non-farm payroll jobs. The ADP report used to have a fairly nice correlation to the more extensive Labor Department release, but that correlation has broken down over the last year and the ADP figure has tended to only be a good predictor when it falls near the consensus estimate. Given that the market is looking for a slide of 75,000 jobs in Friday’s employment report, most economists viewed the ADP data this morning with skepticism. Still, it did spark a bounce in the U.S. dollar and stock index futures this morning while generating a slide in Treasuries. The yield on the benchmark 10-year note was up about 1.6% this morning, suggesting money flow away from “safe-haven” products and toward stocks.

Lost in the positive glow of the ADP report was this morning’s MBA Mortgage Applications Survey, which was pegged at minus 14.1, the lowest level since December 2001. The combination of weak home sales and slumping home equity continue to take a toll on mortgage applications, despite moderating mortgage rates.

The greenback was up about 0.3% against the euro, rising to the highest point in four weeks. At the same time, crude oil prices were hovering near three-month lows and gold prices were near four-week lows, so the inflation picture was projecting a better tone this morning, and a strong dollar can attract foreign investors into U.S. assets.

Speaking of crude oil, the market was down about $1 dollar a barrel, slipping below $122, awaiting the weekly inventory data, which is expected to show a build in crude oil stocks. Rhetoric surrounding the direction of crude oil prices later this year is all over the map, with some pundits saying that crude oil could slide below $100 dollars, while some research firms are still calling for $150 dollars. Given recent stock market behavior, when prices get above $135 dollars, the stock market becomes . . .

The Russell 2000 index opened in the red for the third day in a row on news of a rise in Treasury notes and despite strong May retail sales.
 
At 10:11 a.m. ET the Russell 2000 was down 3.67 points, or 0.44 percent, to 837.54. Dow Jones Industrial Average was down 17.63 points, or 0.13 percent, to 13,448.04.

The yield on the 10-year U.S. Treasury note cleared five percent for the first time in 10 months, rising 5.03%. On Wednesday the European Central Bank raised interest rates 0.25% to 4%.

In business news, same-store sales at U.S. retailers improved in May, following a sharp contraction in April. Bentonville, Ark.-based giant Wal-Mart Stores, Inc. (NYSE: WMT) reported a 1.1% increase in same-store sales, excluding fuel sales.

The following were the most actively traded companies in Thursday's trading among those with market capitalizations under $500 million:

Neurochem Inc. (Nasdaq: NRMX) says a “landmark” New England Journal of Medicine study shows the benefits of the Canadian company’s eprodisate treatment for secondary amyloidosis.

PNC Financial Services Group Inc. (NYSE: PNC) said it agreed to acquire Yardville National Bancorp (Nasdaq: YANB) for $403 million. For each of their shares, Yardville shareholders will receive about $0.29 of a PNC share and $14 in cash.

Acton, Mass.-based SeaChange International (Nasdaq: SEAC) reported a first quarter loss of $0.12 per share, which was $0.02 worse than Wall Street estimates.

Books-A-Million, Inc. (Nasdaq: BAMM) announced that the Board of Director’s has declared a special one-time dividend of $3 per share. The dividend will be paid on July 5. About $50.4 million will be paid on the Birmingham, Ala.-based company’s 16.8 million outstanding shares.

The following are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

Levitt Corp. (NYSE: LEV) restated its first-quarter results due to an inter-company transaction accounting error. Levitt downwardly revised its earnings for the three months ended March 31 to $976,000, or $0.05 per share, from $1.3 million, or $0.06 per share. 

Cantor Fitzgerald maintained a “hold” rating on Euroseas Ltd. (Nasdaq: ESEA).

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