Small cap pre-market movers
April 4(SmallCapInvestor.com) – These are among the most actively traded small cap companies in pre-market trading this morning: Pacer International, Inc. (Nasdaq: PACR) ; IDM Pharma Inc. (Nasdaq: IDMI) ; Royal Gold, Inc. (Nasdaq: RGLD) ; Coldwater Creek Inc. (Nasdaq: CWTR) ; Hayes Lemmerz International, Inc. (Nasdaq: HAYZ) ; EXFO Electrical-Optical Engineering Inc. (Nasdaq: EXFO) .
Shares of logistics provider Pacer International are trading higher despite news the company lowered its 2007 earnings outlook. Concord, Calif.-based Pacer now expects to earn $1.50 to $1.60 a share in 2007, down from a previous projection of earnings of $1.95 to $2.05 a share, it said after Tuesday’s close. Analysts were expecting $1.98 a share. Pacer’s stock is up $0.61, or 2.27%, to $27.50.
IDM Pharma is up on news it has set a date for a meeting with the U.S. Food and Drug Administration to discuss its cancer drug Junovan. The meeting is scheduled for May 9, Irvine, Calif-based IDM said after Tuesday’s close. Shares are up $1.45, or 38.16%, to $5.25.
Shares of Royal Gold, which collects royalties from mine operators, are down $0.04, or 0.15%, to $30.22. After Tuesday’s close the company reported that it priced its 4 million share public offering at $29.25 per share. That’s 3.2% below Tuesday’s closing price of $30.22.
Banc of America Securities lifted its rating on Coldwater Creek this morning, but shares of the clothing retailer fell $0.04, or 0.19%, to $20.50. The Sandpoint, Idaho-based company was upgraded to “buy” from “neutral” due to improving traffic trends and a long-term growth outlook.
Shares of automotive and commercial highway wheels and components maker Hayes Lemmerz International are up on news the company narrowed its annual net loss and increased revenues. Net loss for 2006 was $166.9 million, compared with $457.5 million in 2005. Revenue was $2.06 billion, up 5% from $1.96 billion in 2005. The stock price increased $0.38, or 5.21%, to $7.68.
News of a report on second-quarter profit below expectations hurt shares of EXFO Electro-Optical Engineering. EXFO, which makes test and measurement equipment for the telecom industry, said after Tuesday's close that it earned $2.7 million, or $0.04 a share, for the three months ended Feb. 28. Analysts polled by Thomson Financial were looking for earnings of $0.06. Shares fell $0.10, or 1.62%, to $6.07.
