Tag - Stem

Small caps opened lower, extending losses seen on Friday. At 10:40, the Russell 2000 (NYSE:IWM) is down 15.09, or 3.37%, to 433.27. The Dow is down 3.15%, while the S&P 500 is 3.91% lower. This morning’s slide took the S&P 500 below the 800 level for the first time since the bear market low of Nov. 21 as financials and shares of big energy companies weighed.

General Motors Corp. (NYSE:GM) is down 12.8% ahead of its expected proposal out today with Chrysler LLC. The companies plan to submit the details to the Obama administration to illustrate that the two battered automakers can return to profit. The proposal aims to cut jobs and pare brands, among other things, in hopes of securing billions of dollars in additional federal aid that the companies say they will pay back. General Motors is asking for another $4 billion on top of the $9 billion it has already received, while Chrysler wants another $3 billion on top of the already borrowed $4 billion.

President Obama is scheduled to sign the $787 billion stimulus bill into law today, and is set to detail a plan on Wednesday to help stem mortgage foreclosures. By the losses Wall Street has seen this morning, it seems investors have . . .

Small-cap stocks fell hard on the opening, pulled down by losses in overseas markets, and ongoing worries about corporate profits as we move through the heart of the earnings season. Some of today’s small-cap gainers were Synaptics  (Nasdaq:SYNA), Geron's (Nasdaq:GERN) and Forestar Group Inc. (NYSE:FOR).

Other Market Watch highlights today included:

• Commodities in general could be pressured by a strong run in the U.S. dollar, which was up 1% against the euro, climbing toward six-week highs.  
• Crude oil prices tumbled some $2 a barrel ahead of the stock market opening, which should weigh on energy stocks.
• Goldman Sachs: Infrastructure spending is weighted heavily in 2010 and 2011; tax breaks seem “unlikely” to have a meaningful impact on investment of employment.  
• Stock markets in Europe and Asia were in retreat mode overnight, which only added to the selling bias early on in U.S. trading.

Small Cap Gainers:

• Synaptics fiscal Q2 profit jumps 49%, guides Q3 sales in line with Street. Stock is trading nearly 8% higher in pre-market. See (Nasdaq:SYNA).  
• FDA OKs Geron's first-ever stem-cell treatment trials; shares pop 24% in pre-market. See (Nasdaq:GERN).  
• Forestar Group Inc. gapped higher and gained 21% on news that the firm received an unsolicited takeover offer for a cash tender of $15 a share. See (NYSE:FOR).  
• StemCells, Inc. rises 6% in pre-market on light volume, extending Thursday's dramatic gains. See (Nasdaq:STEM).  

Small Cap Losers:

• Microsemi Corp. fell 19% as the semiconductor firm also slumped after announcing quarterly results. See (Nasdaq:MSCC).  
• Wyndham Worldwide Corp. tumbled 16% as the hotel operator gapped lower. See (NYSE:WYN).
• Metal Management Ltd. was off 15% as the metal recycling firm updated earnings. See (NYSE:SMS).  
• Labranche & Co. Inc. gapped lower as the trading floor specialist took an earnings-related hit. See (NYSE:LAB).  

Small-cap stocks gave back a sizable chunk of Monday’s big rally early on today, pressured by concerns that corporate profits are already sloppy and will be further strained by a weak economy going forward. Today’s small-cap gainers are Interwoven, Inc. (Nasdaq:IWOV), StemCells, Inc. (Nasdaq:STEM) and Geron Corp.(Nasdaq:GERN).

Other Market Watch highlights today included:

• The U.S. dollar was up about 0.6% against the euro, which could weigh on commodity markets as well.  
• Crude oil prices tumbled into the stock market opening, clearly rattled by the weak economic data and sloppy profit report from Microsoft.  
• Small-cap stocks took a dive on the opening, pulled down by gloomy economic data and also by worrisome profit numbers from Microsoft and Nokia

Small Cap Gainers:

• Autonomy Corporation announces agreement to acquire Interwoven, Inc.; IWOV shares rise 30% in pre-market on the news. See (Nasdaq:IWOV). 
• StemCells, Inc. up 11% in pre-market on light volume, extending gains the stock made on Wednesday. See (Nasdaq:STEM).  
• Biopharmaceutical company Geron Corp. is up another 7% in pre-market. See (Nasdaq:GERN).  

Small Cap Losers:

• Babcock & Brown Air Ltd. tumbled 28% as the firm said they needed to retain cash and announced a dividend of $0.20 a share. See (NYSE:FLY). 
• Eclipsys Corporation fell 28% as the health-care software and clinical help firm reported quarterly results. See (Nasdaq:ECLP).
• Teledyne Technologies Inc. fell 18% as the electronic systems designer also took an earnings-tied hit. See (NYSE:TDY).

Clinical-stage biotechnology company StemCells, Inc. (Nasdaq:STEM) said this morning that it filed a universal shelf registration statement with the U.S. Securities and Exchange Commission to issue up to $100 million of debt and equity securities.

Shares were halted in pre-market trading. For detailed price information and recent news stories about StemCells, click STEM.

Shares of Stemcells Inc. (Nasdaq: STEM) have appreciated on news this morning that the pharmaceutical company has successfully completed enrollment for a Phase I clinical trial of its treatment for Batten disease, a fatal disorder of the nervous systems. Shares are up $0.02, or 1%, to $2.46.

Shares of Canadian pharmaceutical company Labopharm Inc. (Nasdaq: DDSS) are higher following news over the weekend that it has received a notice of compliance from regulators for its pain management tablets and can now begin marketing. Shares are up $0.16, or 6%, to $2.89.