24/7 Wall St. » CYBI

Cybex Stock Tout Creates Trading Fluke (CYBI)

Jon C. Ogg — Fri, 30 Mar 2012 19:10:23 +0000

Cybex International Inc. (NASDAQ: CYBI) was halted based on a single-stock circuit breaker getting triggered on Friday afternoon. Some investors may think that the company is suddenly being acquired or that a big investor like Warren Buffett or someone of that caliber took a position in the company. That is not the case and not even close.

The reason that this stock popped so much today is because a portfolio manager came on CNBC and touted the stock as a long-shot potential winner after it was already up big this year as a turnaround. The company makes Cybex workout equipment that is used for weight-training and cardio-training in exercise settings.

Investors need to know that this was a fluke, even if it goes up again. After a 29% gain to $2.88 this has a mere $50 million market cap. The prior 52-week range was $0.36 to $2.80 and the stock’s intra-day trading range is $2.11 to $3.60. In short, it was up 50% at one point. It is a tiny company and its sales were $140 million in 2011. It made money in 2011 at $34.2 million after operating losses of -$58.237 million in 2010 and after operating losses of -$2.437 million in 2009.

The trading volume has been 1.4 million shares and the average volume is only 85,000 shares.

Today’s move was simply on one tout, nothing more nothing less.

JON C. OGG

Filed under: Active Trader, Trading Alert Tagged: CYBI

Mid-day Movers (JNGW, AEA, ITRI, CYBI, HDY)

Paul Ausick — Thu, 16 Feb 2012 17:04:43 +0000

At about noon ET today, the three major equity indexes remain solidly positive, with the DJIA up nearly 91 points at about 12,872, the Nasdaq up about 24 points at around 2,940, and the S&P 500 is up more than 10 points to 1,354. All have gained ground since the opening. The dollar has gained strength against the euro and the Japanese yen, but lost strength versus the British pound. The dollar index is up 0.05% at 79.766, weaker than where it started the day, up 0.40% at 80.043.

Among the major movers at around noon today are Jingwei International Ltd. (NASDAQ: JNGW), Advance America, Cash Advance Centers Inc. (NYSE: AEA), Itron Inc. (NASDAQ: ITRI), Cybex International Inc. (NASDAQ: CYBI), and HyperDynamics Corp. (NYSE: HDY).

Jingwei is up nearly 45% at $2.10. Volume is more than 30x the daily average of about 3,300 shares traded. The Chinese software company is being taken private.

Advance America is up nearly 32% at $10.43 after posting a new 52-week high of $10.55 early this morning. Volume is more than 60x the daily average of 495,000 shares traded. The cash advance provider is being acquired by Mexico’s Grupo Elektra for $10.50/share, for a total price of about $655 million.

Itron is up more than 24% at $49.84. Volume is nearly 6x the daily average of around 420,000 shares traded. The water and power meter maker is acquiring a smart-meter maker for about $100 million following a better-than-expected earnings report last night. We noted Itron as one of our top five winners/losers this morning.

Cybex is up nearly 23% at $2.29 after posting a new 52-week high of $2.80 earlier this morning. Volume is nearly 8x the daily average of around 50,000 shares traded. The sporting goods maker’s shares were halted briefly this morning on a single-stock circuit breaker. This is the second day in a row that the shares have posted a new high following yesterday’s stellar earnings report.

HyperDynamics is down nearly -31% at $1.40 after posting a new 52-week low of $1.01 earlier this morning. Volume is about 7x the daily average of 3.4 million shares traded. The independent oil & gas exploration and production company reported only non-commercial quantities of hydrocarbons at its offshore West African field. Here’s the killer sentence from HyperDynamics’ announcement:

The indicated oil saturation appears to be residual, suggesting that larger volumes of oil formerly were present in the reservoirs but subsequently leaked out or that these rocks lay on a hydrocarbon migration pathway.

The company’s sole asset is 9,650 square miles of exploration area offshore of Guinea.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AEA, CYBI, HDY, ITRI, JNGW

24/7 Wall St. Closing Bell (DELL, KMB, SWY, RAX, BAC, ANF, CMCSA, XEC, DE, DVN, INCY, NOR, TEVA, ZNGA, BPAX, CSKI, IPSU, ALNY, CYBI)

Paul Ausick — Wed, 15 Feb 2012 21:07:27 +0000

The three major US stock indexes opened slightly higher this morning, but the DJIA almost immediately turned south and remained in negative territory all session. The Nasdaq composite and S&P 500 turned south in the early afternoon. China’s central bank said that it would continue to buy European sovereign debt and do its part to help the Eurozone recover. But nothing much has happened on the continent today to build up hopes for avoiding a Greek default. The afternoon release of the FOMC minutes cooled markets even more as the minutes showed little enthusiasm for another round of quantitative easing. Crude oil is higher today following Iran’s announcement that it was cutting off supplies to six European countries (see our coverage here). WTI is up 1.05% at $101.80/barrel and Brent is up 1.34% at $118.92. Gold rose 0.6% to settle at $1,728.10/ounce.

The unofficial closing bells put the DJIA down more than 97 points to 12,780.95 (-0.76%), the NASDAQ fell 16 points (-0.55%) to 2,915.83, and the S&P 500 fell -0.54% or more than 7 points to 1,343.23.

There were several analyst upgrades and downgrades today, including Dell Inc. (NASDAQ: DELL) cut to ‘underperform’ at Sterne Agee; Kimberley-Clark Corp. (NYSE: KMB) cut to ‘neutral’ at Janney; Safeway Inc. (NYSE: SWY) raised to ‘outperform’ at Credit Suisse; Rackspace Hosting Inc. (NYSE: RAX) cut to ‘market perform’ at Raymond James; and Bank of America Corp. (NYSE: BAC) cut to ‘market perform’ at Bernstein.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Abercrombie & Fitch Co. (NYSE: ANF) is up 8.2% at $48.25; Comcast Corp. (NASDAQ: CMCSA) is up 4.5% at $28.48 after posting a new 52-week high of $29.05 earlier today; Cimarex Energy Co. (NYSE: XEC) is up nearly 19% at $81.66; Deere & Co. (NYSE: DE) is down -5.4% at $84.21; Devon Energy Corp. (NYSE: DVN) is up about 7% at $71.64 (more coverage here); Incyte Corp. (NASDAQ: INCY) is down -5.9% at $17.19; Noranda Aluminum Holding Corp. (NYSE: NOR) is down -2% at $10.63; Teva Pharmaceuticals Inc. (NASDAQ: TEVA) is up 3.4% at $45.01; and Zynga Inc. (NASDAQ: ZNGA) is down nearly -15% at $12.21.

Other standouts from today include the following stocks:

Guggenheim Solar ETF (NYSE: TAN) completed a 1:10 reverse split this morning. We have more coverage here.

BioSante Pharmaceuticals Inc. (NASDAQ: BPAX) is up more than 30% at $0.99. The company’s testosterone replacement drug for men has been approved by the FDA and will be co-marketed with Teva.

China Sky One Medical Inc. (NASDAQ: CSKI) China Sky One is down more than -28% at $1.10. Volume is nearly 10x the daily average of about 285,000 shares traded. The nutritional supplement company’s shares were stopped following an announcement of the resignations of 26 managers and the reported illness of the CEO.

Imperial Sugar Co. (NASDAQ: IPSU) is down nearly -14% at $5.75. Investors are likely taking profits today, following a week-long run-up in the share price.

Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) is up nearly 15% at $12.59. The biopharmaceutical company priced a secondary share offering at $10.75. More coverage here.

Cybex International Inc. (NASDAQ: CYBI) is up more than 19% at $1.81 after posting a new 52-week high of $2.01 earlier this morning. The sporting goods maker posted better-than-expected earnings this morning.

Stay tuned for Thursday. Federal Reserve chairman Ben Bernanke is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Housing starts
8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Producer price index
10:00 a.m. – Philadelphia Fed survey
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year TIPS auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ALNY, ANF, BAC, BPAX, CMCSA, CSKI, CYBI, DE, DELL, DVN, INCY, IPSU, KMB, NOR, RAX, SWY, TEVA, XEC, ZNGA

Mid-day Movers (SHIP, CYBI, CSKI, CBK, VG)

Paul Ausick — Wed, 15 Feb 2012 18:00:18 +0000

At about 12.30 p.m. ET today, the three major equity indexes remain mixed, with the DJIA down about 34 points at about 12,844, the Nasdaq up about 14 points at around 2,946, and the S&P 500 is up more than 2 points to 1,353. All have lost ground since the opening, with the DJIA down the most. The dollar has gained strength against the euro and lost strength versus the British pound and the Japanese yen. The dollar index is up 0.192 at 79.576, up more than 0.2% from its pre-open level.

Among the major movers at around noon today are Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), Cybex International Inc. (NASDAQ: CYBI), China Sky One Medical Inc. (NASDAQ: CSKI), Christopher & Banks Corp. (NYSE: CBK), and Vonage Holdings Corp. (NYSE: VG).

Seanergy is up nearly 25% at $3.63. Volume is already about 25x the daily average of around 18,000 shares traded. The dry bulk shipper reported an unexpected profit this morning.

Cybex is up nearly 22% at $1.85 after posting a new 52-week high of $2.01 earlier this morning. Volume is about 8x the daily average of around 50,000 shares traded. The sporting goods maker posted better-than-expected earnings this morning.

China Sky One is down more than -28% at $1.10. Volume is nearly 10x the daily average of about 285,000 shares traded. The nutritional supplement company’s shares have been stopped following the resignations of 26 managers and the reported illness of the CEO.

Christopher & Banks is up more than 11% at $2.52. Volume is about double the daily average of 223,000 shares traded. The clothing retailer is leading the retail sector bump today.

Vonage is down nearly -14% at $2.35. Volume is 6x the daily average of about 1.2 million shares traded. The Internet phone company reported in-line fourth-quarter revenues and earning, but projected higher expenses in 2012.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CBK, CSKI, CYBI, SHIP, VG

Mid-day Movers (MNI, CSTR, CYBI, NGSX, SPF)

Paul Ausick — Tue, 07 Feb 2012 17:02:17 +0000

At about noon, the DJIA is still up about 35 points at about 12,880, the Nasdaq is up some about 8 points at around 2,910, and the S&P 500 is up about 2.5 points to 1,347. News that Greece has nearly closed a deal on its debt swap is boosting markets in Europe and the US, and pushing up Asian futures as well. Another good report on US unemployment is out, this one indicating that US job openings are at their highest level since August 2008.

Among the major movers at around noon today are The McClatchy Co. (NYSE: MNI), Coinstar Inc. (NASDAQ: CSTR), Cybex International Inc. (NASDAQ: CYBI), NeurogesX Inc. (NASDAQ: NGSX), and Standard Pacific Corp. (NYSE: SPF).

Shares of McClatchy are up about 25% at $2.79. About 2.4 million shares have been traded so far today, compared with a 3-month daily average of about 1.2 million shares traded. The newspaper company reported stronger-than-expected earnings today. More coverage here.

Coinstar is up nearly 19% at $59.95 after posting a new 52-week high of $60.81 earlier. More than 10 million shares have traded this morning, compared with a 3-month daily average of around 1.1 million. The video rental company will join with Verizon Communications Inc. (NYSE: VZ) to offer a streaming video service to compete with Netflix Inc. (NASDAQ: NFLX) and others. We have more coverage here and here.

Cybex is up nearly 22% at $1.45 after posting a new 52-week high of $1.55 earlier. About 242,000 shares have traded this morning, compared with a 3-month daily average of less than 40,000. The sporting goods firm has settled a product liability suit for $19.5 million.

NeurogesX is down nearly -23% at $0.89. About 1.8 million shares have traded by mid-day, compared with a daily average of about 220,000. The pharmaceuticals firm has received a query from the Food and Drug Administration regarding the efficacy of its pain-relief patch.

Standard Pacific shares are up more than 13% at $4.59 after posting a new 52-week high of $4.85 earlier today. More than 9 million shares have already traded this morning, compared with a 3-month daily average of about about 2 million shares. The homebuilder posted good earnings today and reported that orders are up 8% in January.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CSTR, CYBI, MNI, NGSX, SPF

Cybex Treadmill Recall, One More Woe (CYBI)

Douglas A. McIntyre — Wed, 29 Oct 2008 12:04:07 +0000

Cybex International Inc. (NASDAQ: CYBI) has another issue to worry about besides a stalling economy and weak sales of exercise equipment ahead. The Consumer Product Safety Commission released today that the company is subject of a product recall for roughly 19,000 treadmills. The Cybex recall is for treadmill risks due to fall hazards where the machine can unexpectedly speed up without notice due to a malfunction with the lower control board.

The company has received 24 reports of incidents involving thetreadmill unexpectedly increasing speed, including six reports ofconsumers falling. Three of those incidents resulted in minor injuries. This has also come at a price on its stock, and the company’s shareholders probably don’t want any more financial injury on top of product injury.

The recall involves the Cybex treadmill models 445T, 455T, 530T, 450T,500T, 515T, and 520T, which are black and gray with rectangularuprights. The 530T style treadmill is 81 inches long by 32 inches wide.The 445T style treadmill is 72 inches long by 32 inches wide. Thetreadmills have a display panel on a console as wide as the treadmill.

These models were sold at Cybex International and at Cybex dealersnationwide starting in January 2001 through September 2008 for between$5,500.00 and $7,000.00 per treadmill.

The good news here is that it does not appear that this recall requiresthe machines to be sent back in. That would have been disastrous forthe company. The shipping on these machines back and forth would havecome at a significant cost to the company even if it had productliability and recall insurance. It says at the CPSC site to unplug andstop using the recalled treadmills and that consumers should contactCybex to receive a free replacement fuse. If requested, a Cybextechnician can install the fuse free of charge. Cybex is directlycontacting known purchasers.

have you ever been thrown off of a treadmill? I have, and trust mewhen I tell you that it hurts. Unfortunately my incident was becauseof my feet being too slow for the speed I set the machine too and I gottired and tripped before I slowed the speed down. Even with thisrecall and the warning, that was my fault.

This news did come at a price today. Shares were down almost 12% at$1.85 after 12:45 PM EST. Fortunately this won’t come at too high of aprice for the company other than a PR issue that competitors will tryto use against it.

The company’s share price has traded in a range of $1.50 to $5.22 overthe last 52-weeks, but the stock has never really recouped its lossesfrom when this was a $10 to $15 stock back in the early to mid-1990′s.

Jon C. Ogg
October 29, 2008

Posted in Corporate Governance, Product Review, Retail, Shareholder Issues Tagged: CYBI