Three Small Cap Market Movers (NASDAQ: CKEC, MIPI, ATRC)

Three Small Cap Market Movers (NASDAQ: CKEC, MIPI

, ATRC)

Carmike Cinemas, Inc (NASDAQ: CKEC) is trading at $8.13 up 1.17 or 16%. The company has had a rough half of the year, increase in price in March, but tanking after unfavorable quarterly results in April. In the company's last quarterly conference call it reported a loss of .03 on sales of 124 million, falling short of the Wall Street consensus by $ .08. Since that time CKEC has dropped from $17.09 to its current position. The company is bouncing back from low's with investors appearing to cover their shorts. Although the company appears to be in terrible position, Carmike does have 244 theaters with 2,277 screens in 35 states, not to mention that 503 of these screens are equipped with 3D capability. Summer is the season for movies so it will be interesting to see how the company will fair providing entertainment to small communities on top of the increased demand for 3-D movies.

Molecular Insight Pharmaceuticals Inc. (NASDAQ:MIPI)is trading at $2.08 up .77 or 58% today. The latest press released on this company hit the wire on June 8th noting MIPI's presentation at the Nuclear Medicine 2010 meeting in Salt Lake City. The company's stock has been trading wildly, spiking in April and selling off, as many bio tech firms do. On May 8th Molecular Insight reported first quarter 2010 financial results reporting a net loss of $17.5 million compared to a loss of $15.3 million from a year ago. Research and development expenses were $7.5 million compared to $6 million for the same period last year. Phase 1 clinical trial of Solazed a radiotherapeutic drug candidate for the treatment of malignant metastatic melanoma was started in this quarter. Phase 2 clinical trial of Onalta had also been published in a peer reviewed journal, noting improved symptoms associated with metastatic carcinoid tumors.

Finally, AtriCure Inc. (NASDAQ: ATRC) is trading at $6.62 up $1.39 or 26.58% after announcing approval for the AtriClip heart system. The FDA has approved AtriCure's AtriClip Gillinov-Cosgrove Left Atrial Appendage Exclusion system. Often blood can pool in the Atrial appendage causing blood clots that move elsewhere in the body. During procedures involving repair of Atrial Fibrilation, this clip is vital for the survival of patients. On May 10th the company reported financial results for the first quarter of 2010, announcing revenues of $14 million or a $.3 million increase when compared to the same period of year ago. Net loss was narrowed from $.56 a share to $.13 a share on a GAAP basis. From the last quarter conference call and the approval of a new product this Medical Instruments Company could be on its way to profitability assuming the market holds and innovation continues.

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Disclosure: no positions

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