Tag - Vsnt

Koss Corp. (Nasdaq:KOSS), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) and Charming Shoppes Inc. (Nasdaq:CHRS) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: First M&F Corp. (Nasdaq:FMFC), Pilgrim's Pride Corp. (Nasdaq:PPC), Versant Corp. (Nasdaq:VSNT), eTelecare Global Solutions Inc. (Nasdaq:ETEL), Stoneridge Inc. (Nasdaq:SRI) and Ames National Corp. (Nasdaq:ATLO).

Here are the biggest percentage losers among small caps:

Small-cap stocks pushed higher on the opening, lifted by another slide in crude oil prices overnight, and by a pleasant upward surprise on durable goods data ahead of the opening. At 9:52 a.m. ET, the Russell 2000 (NYSE:IWM) was up 0.72, or 0.11%, at 735.11.

Crude oil prices have now tumbled more than 5% off last week’s record highs, and were pressured overnight by news that Saudi Arabia would increase production and that Asian demand could begin to ebb because of high price levels. In general, the commodity story was under pressure early today, with gold sinking about 2% and grains prices expected to tumble this morning.

There was some thought that traders might be unwinding some of the long crude oil/short dollar trades that have been so popular in recent months. The greenback was on a bid this morning, climbing 0.3% against the euro, and about 0.7% versus the yen. In general, a strong dollar at this stage of the economic cycle is seen as supportive to equities, reflecting investment flow demand and softening food and energy prices, which would bolster consumer purchasing power.

Back to the durable goods report, the headline figure came in down 0.5%, which was better than the forecast for a slide of 1%, but the real surprise was on the ex-transportation figure, which was up 2.5%, well clear of the median expectation for a gain of 0.5%. The MBA Mortgage Application survey also came out this morning, and reflected slack demand, with the index down 4.6% and the purchase index off 17.4%. This is a volatile data base and appeared to be overshadowed by the durables surprise. The economic data push for today is now out of the way; later . . .

Shares of Versant Corp. (Nasdaq:VSNT) are advancing ahead of the opening bell after the database management system products company said after the close Tuesday that revenue in its fiscal second quarter surged 30%, while net income increased 23%. The company attributed results to increases in licensing and maintenance revenues and a weak U.S. dollar.

Shares gained 10%, or $2.99, to $32.39 ahead of the opening bell. For detailed price information and recent news stories about Versant, click VSNT.

Idera Pharmaceuticals, Inc. (Nasdaq:IDRA), Global Traffic Network, Inc. (Nasdaq:GNET) and Versant Corp. (Nasdaq:VSNT) were among the new 52-week highs established during Tuesday's trading among companies with market capitalizations or values under $750 million.

Hawaiian Holdings, Inc. (AMEX:HA) and Shore Financial Corp. (Nasdaq:SHBK) were also among the 52-week small-cap highs.

Here are Tuesday's 52-week small-cap highs:

Shares of Versant Corp. (Nasdaq: VSNT) have touched a new 52-week high following news after the close on Tuesday that the maker of data management software saw a rise in fiscal fourth-quarter profit.

Net income for the three months ended Oct. 31 was a record $2.1 million, or $0.56 per share, compared with a net income of $1.4 million, or $0.38 per share, for the fourth quarter of fiscal 2006. Analyst estimates were not available.

The Fremont, Calif.-based company also announced that revenues increased 21.7% to $5.6 million from $4.6 million a year earlier. This increase was driven primarily by license revenues, which grew by 45% to $3.3 million from $2.3 million.

Turning to all of fiscal 2007, Versant’s net income came to $7.6 million, an increase of 77% from earnings of $4.3 million in fiscal 2006. Revenues increased 26% to $21.2 million from $16.7 million.

“For fiscal 2007, our license revenues increased by 50% compared to fiscal 2006, thereby driving our net income to a record level,” said CEO Jochen Witte in a statement.

The company said that it expects to raise revenues an additional 13% in fiscal 2008 to about $24 million. Earnings are forecasted to rise 25% to $9.5 million, or $2.50 per share.

At 1:57 p.m. ET, shares of Versant Corp. (VSNT) had climbed $4.33, or 21%, to $25.45. The previous 52-week high of $25.22 was reached on June 20, while the 52-week low of $11.65 was set on Dec. 5, 2006.

Specialized data management company Versant Corp. (Nasdaq: VSNT) reported financial results for its third fiscal quarter above year-ago results after the close.

For the three months ended July 31, the Redwood City, Calif.-based company reported net income of $1.9 million, or $0.52 per and diluted share, compared with net income of $1.0 million, or $0.28 per diluted share, for the third quarter last year.

Versant’s revenues increased approximately 40% to $5.2 million from $3.8 million for the third quarter of 2006.  

License revenues increased 51% from $1.9 million in the third quarter of 2006 to $2.9 million in the third quarter of 2007. Maintenance revenues increased 29% from $1.7 million in the third quarter of 2006 to $2.2 million in the third quarter of 2007.

Shares of Versant rose $1.13, or 4.93%, to $24.00 in after-hours trading.

Shares in Novacea, Inc. (Nasdaq: NOVC) are up over 85% in Wednesday midday trading on an announcement the biopharmaceutical company entered into an exclusive worldwide license agreement with biopharmaceutical company Schering-Plough Corp. (NYSE: SGP) for the development and commercialization of the cancer drug Asentar.

Shares of True Religion Apparel Inc. (Nasdaq: TRLG) are up over 13% after Sterne, Agee & Leach Inc. raised its rating on the clothing maker, saying the company has strong growth prospects.

Versant Corp. (Nasdaq: VSNT) shares are up after the data management software company announced a jump in second-quarter earnings after the close of trading Tuesday. Net income for the Fremont, Calif.-based company in the second quarter ended April 30 totaled $1.9 million, or $0.52 a share, up from $1.2 million, or $0.23 a share, in the year-ago period.

In midday Wednesday trading, Synovis Life Technologies, Inc. (Nasdaq: SYNO) shares were up over 7% after the company reported before the start of trading a 47% jump in its surgical business division for the second quarter ended April 30. The surgical products maker reported a $0.7 million profit, or $0.06 a share, up from a $0.4 loss, or $0.04 per share, a year earlier.

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

Shares of Versant Corporation (Nasdaq: VSNT) rose sharply in after hours trading after the data management company said its revenues were strongly higher in the second second quarter ended April 30, and net income rose to a record quarterly level. For the three-month period, Versant's revenues from continuing operations were $5.2 million, up 37% from $3.8 million for the same quarter a year ago. Net income was $1.9 million and diluted net income per share was $0.52, compared with net income of $1.2 million and diluted net income per share of $0.32 a year earlier. Shares of Fremont, Calif.-based Versant were up 21.01% at $22.99, a new 52-week high. The 52-week high had been  $20.20.

Columbia, Md.-based Martek Biosciences Corporation (Nasdaq: MATK) said it has withdrawn an original patent for infant formula that was upheld with narrowed claims by the European Patent Office. Because of the withdrawal, an appeal hearing set for this summer will be canceled, and the patent will not be in effect. Martek develops DHA omega-3 products for use in foods, beverages, infant formula, and supplements, and life's ARA, an omega-6 fatty acid, for use in infant formula. In after-hours trading, shares of Martek were down 2% at $20.20.

Drug development company Neurogen Corporation (Nasdaq: NRGN) said it has filed a $100 million universal shelf registration statement with the Securities and Exchange Commission, allowing it to sell debt securities, common or preferred stock or warrants. Neurogen may sell any combination of the securities in one or more offerings; the Branford, Conn.-based company will receive all of the net proceeds, which it intends to use for general corporate purposes, including funding research and development, capital expenditures, working capital, and repayment or refinancing of debts. Shares had yet to trade in after hours; they settled at $7.61, near the high end of a $4.34 to $8.25 52-week range.