Small-cap stocks remain sharply lower; LAB, VHI, and PHX lead gainers

Small-cap stocks remained sharply lower into mid-session, pressured by fresh worries about the health of the banking sector as we enter into earnings season and by dreadful retail sales numbers this morning.  Some of today’s small-cap gainers were LaBranche (NYSE:LAB), Vahli, Inc. (NYSE:VHI) and Panhandle Oil and Gas (NYSE:PHX).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund was off 4.5% at midday.  
• Crude oil tumbled amid the sell-off in stocks; energy shares were dueling with financials for the biggest downside market hit so far today.  
• Bank stocks took a hit in European trading ahead of today’s opening and those concerns continued to play out during the U.S. session.  
• Financials, commodities, retailers and manufacturers are all taking a hit, but the slide in bank stocks is a major spot of bother.

Small Cap Gainers:

• Goldman Sachs upgrades LaBranche; shares rise 16%. See (NYSE:LAB). 
• Valhi, Inc. up 9% after announcing issuance of final low-level radioactive waste disposal license. See (NYSE:VHI).  
• Panhandle Oil and Gas up 6% after declaring a dividend last week. See (NYSE:PHX).   • Charles River schedules 2008 earnings and 2009 guidance release for Feb. 9; shares rise over 5%. See (NYSE:CRL).  

Small Cap Losers:

• Allis-Chalmers Energy slides 16% as energy stocks are feeling the heat today. See (NYSE:ALY).  
• Cliffs Natural Resources shares drop over 15% on deferral. See (NYSE:CLF).
• National Financial Partners Corp. slides 14% as financials nosedive today. See (NYSE:NFP).  
• North American Energy Partners down over 12% on light volume, pulled down by the slump in energy stocks. See (NYSE:NOA).  

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