Tag - NASDAQGM:SHIP

Matrix Service Co (Nasdaq:MTRX), Lacrosse Footwear Inc (Nasdaq:BOOT) and Enterprise Bancorp Inc (Nasdaq:EBTC) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Evercore Partners Inc (Nasdaq:EVR), American River Bankshares (Nasdaq:AMRB), Seanergy Maritime Corp (Nasdaq:SHIP), Ocean Power Technologies Inc (Nasdaq:OPTT), Maxygen Inc (Nasdaq:MAXY) and Pharmaxis Depository Receipt (Nasdaq:PXSL).

Small-cap stocks tumbled to fresh move lows early Monday, slipping to the lowest point on intraday charts since August 2003, but mounted a nice recovery rally on a stronger-than-forecast new home sales release. The early decline was fueled by steep losses in global equity trading overnight, which underscored fear of a global growth slowdown. Today’s small-cap gainers are Penn National Gaming (Nasdaq:PENN), Pilgrim’s Pride (NYSE:PPC) and ATP Oil & Gas (Nasdaq:ATPG).

Other Market Watch highlights today included:

• Commodities in general were taking a hit this morning, pulled down by a strong tone in the U.S. dollar, which rose to the highest point versus the euro since April 2006.  
• Small caps tumbled to fresh move lows early Monday, slipping to the lowest point on intraday charts since August 2003, but mounted a nice recovery on a stronger-than-forecast new home sales release.
• Looking at the chart picture, if the Russell quickly cascades through Friday’s low this morning, then it opens the door to another leg down.  
• The strong dollar and fears of a global recession took a toll on commodities, with crude oil down more than $2 a barrel.  
• Global stock markets were on fire sale, with Japan’s Nikkei sinking 6% to the lowest close since 1982, while Hong Kong’s Hang Seng index collapsed 12.7%, the largest 1-day drop in 9 years.

Small Cap Gainers:

• Penn National Gaming up 12% after Q3 EPS vaulted on settlement payment, raises 2008 earnings guidance. See (Nasdaq:PENN).  
• Pilgrim's Pride gets extension on temporary waiver under its credit facilities through November 26, up 11%. See (NYSE:PPC).
• ATP Oil & Gas to buyback 10% of shares outstanding, shares gain 11%.
See (Nasdaq:ATPG).
• Sohu.com posts Q3 above the Street, guides Q4 above estimates, initiates $150M share repurchase program. See (Nasdaq:SOHU).  

Small Cap Losers:

• Natures Sunshine Products Inc. is down 36%, gapping lower, but on light volume. See (Nasdaq:NATR).  
• Timken sinks 30% on no fresh news. See (NYSE:TKR).
• Bolt Technology skids 28% on no fresh news. See (Nasdaq:BOLT)
• Seanergy Maritime Corp. is off about 27%, also on a light volume opening slide. See (Nasdaq:SHIP).  
• Ariba slides 20% despite an upgrade by Cowen and actions to streamline its sourcing and contract management processes. (Nasdaq:ARBA).   

Small-cap stocks tumbled to fresh move lows early Monday, slipping to the lowest point on intraday charts since August 2003, but mounted a nice recovery rally on a stronger-than-forecast new home sales release. The early decline was fueled by steep losses in global equity trading overnight, which underscored fear of a global growth slowdown. At 10:05 a.m. ET, the Russell 2000 (NYSE:IWM) was up 3.16, or 0.67%, at 474.28.

The new home sales report came in at an annual rate of 464,000, which was above the forecast of 455,000. Inventories were down as well, slashes to the lowest point since June 2004, and the steepest one-month percentage decline on record, which was embraced by the stock market. However, the sales were enticed by lower prices, as the median sales price dipped to $218,400, the lowest level since September 2004.

After a relatively slow week on the data front last week, today’s new home sales report kicks off a more active run of economic releases this week. In addition, Wednesday’s FOMC and Thursday’s GDP report will be highly anticipated.

There was a massive 61-handle range in S&P 500 futures overnight as the market rejected an initial rally Sunday evening in response to a bruising collapse in stock markets in Asia. Japan’s Nikkei lost some 6% and closed at the lowest point in 26 years. Meanwhile, Hong Kong was off 12.7%, generating the largest one-day drop in nine years. Elsewhere around Asia, losses in the 4% range were common.

Commodities were on the defensive again today, with crude oil prices down about $0.80 a barrel dollars after the stock market opening. Overnight, crude oil prices were down more than $2 a barrel to the lowest point in 17 months, but stabilized when the U.S. stock market’s initial decline was not as bad as feared. Commodities in general were taking a hit this morning, pulled down by a strong tone in the U.S. dollar, which rose to the highest point versus the euro since April 2006. Although crude oil prices were climbing back toward level ground, the firm dollar did spark . . .

The Russell 2000 (NYSE:IWM) staged an impressive start to the week, closing up 3.88% on Monday. Today’s small-cap gainers are Landrys Restaurants (NYSE:LNY), WebMD (Nasdaq:WBMD) and McMoRan (NYSE:MMR).

Other Market Watch highlights today included:

• The Russell is now down 29% for the year, while the Dow is off 30% and the S&P 500 is down 33%.
• Small caps lagged large caps today even on the rally, which is a little bit of concern as the same pattern was evident on the recent collapse.
• Techs lagged throughout the day. If the money to invest in tech is choked off, then the risk appetite for smaller-cap stocks is likely to suffer as well.
• Sectors on the rise today include coal stocks, oil equipment and oil services, oil exploration, oil and gas storage, steel, oil refiners, gas utilities, industrial gases and power products.
• On the downside, broadcast and cable TV stocks were lower, as . . .