Tag - NASDAQGM:SUPR

Stocks slid during the morning session and began a more gradual recovery after noon eastern time. The Dow closed up 4.76 points to 8,183 in choppy trading all day and on news that initial jobless benefits claims came in at 565,000 down from the 605,000 that analysts had expected.  

Both the Nasdaq and the S&P 500 closed up today at 1,752 and 882, respectively. 
The top 2,000 small-cap stocks making up the Russell 2000 closed down 0.4 points to end the day's trading at 479. 

Small-cap gainers were lead by Superior Bancorp (Nasdaq:SUPR) up 22% on heavier than normal volume. The stock opened today at $2.19 and hung around that level until shortly after 1:00 p.m. eastern to spike to $2.75 within 15 minutes. The remainder of the trading session saw SUPR trying to push through resistance at $2.97 before settling at $2.69. 

Other small-cap gainers for today include Park Bancorp (Nasdaq:PFED) up 21% to close at $8.70 from a previous close of $7.19; MOD-PAC (Nasdaq:MPAC), a manufacturer of folding cartons in north America, up 20%; and Chicago Rivet & Machine (Amex:CVR) up 25%. 

Decliners in the small-cap space were lead by American International Group (NYSE:AIG), down 28% on news that the company is potentially looking to sell parts of its foreign life-insurance units to MetLife (NYSE:MET). This comes on the heels of AIG's announcement last week that shareholders had approved a 1-for-20 reverse stock split in an effort to maintain the firm's listing on the New York Stock Exchange. 

Other small-caps losing in today's session include United Community Bancorp (Nasdaq:UCBA) down 17%; Tuesday and Wednesday's high flyer, Novagen (Nasdaq:NVGN) was down 20% as profit-takers continued the sell-off that started Wednesday afternoon; and MedQuist (Nasdaq:MEDQ) down 13%.

*****Earnings season has begun. Alcoa (NYSE:AA) kicked things off with a report that was better than expected, even though the company lost $454 million in the second quarter. Yes, nearly half a billion dollars.  

Alcoa went on to say that aluminum demand will be down 7% this year. One analyst widened his loss estimates for the remainder of this year and 2010. And yet the stock is up 6% in the early going.  

How can that possibly be bullish, you ask?  

Well good question. And the answer may not come as that much of a surprise: China. Alcoa believes that Chinese stimulus spending may help it become "…free cash flow positive very soon…" Alcoa's CFO said.

*****I've discussed China's stimulus plans at length here in Daily Profit. And I've also been aggressively adding Chinese stocks to the SmallCapInvestor PRO portfolio. (Click here to find out which ones.) 

But it's still nice to hear from a major U.S. corporation that China's $585 billion stimulus spending plan is expected to have a positive effect on commodity pricing and demand.  
In fact, Alcoa's CEO added a little color to China's stimulus efforts. He reported that China is telling its people "…that it's good to not have too much savings and to buy new cars and get a new air-conditioner." 

It would be ironic if China usurped the U.S. and became the world's consumer of last resort. And a profitable irony at that. 

*****It's being reported that stocks are rallying after weekly new unemployment claims were down sharply last week. But continued unemployment benefit claims from workers already on the dole rose for the week.

The drop in new claims appears to be an anomaly due to a break in layoffs in the auto industry. There doesn't appear to be any significant change in the unemployment trend.  

*****I hope you've been paying attention to Jason Cimpl's video chart analysis and weekly forecasts. He's been hitting the market's next moves with uncanny accuracy. You'll recall from last week, he was looking for more weakness early this week, with a recovery mid-week. If yesterday's late rebound can continue today, he'll be spot on again. Be sure to read tomorrow's Daily Profit to view Jason's forecast for next week.
 
And his prescient forecasts are making money for subscribers to TradeMaster Daily Stock Alerts, too. They just took 15% on the Ultrashort Financial ETF (NYSE:SKF) in 8 days. And it looks as though he's getting his readers ready for some upside trades.  
Of course, you'll get his video forecast in tomorrow's Daily Profit, but if you want to start getting his profitable trades, too, then you'll want to sign up for TradeMaster Daily Stock Alerts. There's a 30-day trial available. Click here to find out how you can enjoy steady profits in this uncertain market.

*****The PPIP is doomed. PIMCO's Bill Gross is dropping out of the government's program to remove toxic assets from banks' balance sheets. Gross and Co. are apparently concerned that the government has gotten too unpredictable, changing its mind, and even the terms, of other bailout measures retroactively.   

Plus, there's also the likelihood that banks won't sell toxic assets at anything resembling attractive prices. And that will kill the program.  

I still believe Geithner blew his opportunity to use the stress-tests to force banks to sell their toxic assets and improve their balance sheets. But as we know, Geithner simply does not play hardball. And that's too bad, because our economy could use some leadership from the Treasury.  

P.S. I just finished reading through a new book by senior trader Larry Connors. It's called "High Probability ETF Trading". It's on profitable trading strategies using ETFs and he's hitting a 93% win rate. I don't know about you, but I'll take 93% any day. He gave me a link to more information about the book to share with Daily Profit readers (I asked him for it as readers send me a ton of questions on ETFs). Click here to find out more about his book and discover how to get up a 93% win rate on your ETF trades.

Targanta Therapeutics Corp. (Nasdaq:TARG), Westport Innovations Inc. (Nasdaq:WPRT) and Superior Bancorp (Nasdaq:SUPR) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Heritage Financial Corp. (Nasdaq:HFWA), BankAtlantic Bancorp Inc. (Nasdaq:BBX), Bank of the Ozarks Inc. (Nasdaq:OZRK), UAL Corp. (Nasdaq:UAUA), LSB Corp. (Nasdaq:LSBX) and Gladstone Commerical REIT (Nasdaq:GOOD).

Here are the biggest percentage gainers among small caps:

Maguire Properties Inc (Nasdaq:MPG), First Horizon National Corp (Nasdaq:FHN) and United Security Bancshares (AL) (Nasdaq:USBI) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Superior Bancorp (Nasdaq:SUPR), Anaren Inc (Nasdaq:ANEN), AMERICAN RIVER Bankshares (Nasdaq:AMRB), ATMI Inc (Nasdaq:ATMI), Sunstone Hotel Investors Inc (Nasdaq:SHO) and CoBiz Financial Inc (Nasdaq:COBZ).

Here are the new 52-week lows among small caps:

Superior Bancorp (Nasdaq:SUPR) is down 13% to a 52-week low today after analysts at Janney, Montgomery and Scott downgraded the company ahead of the opening to “neutral” from “buy.” The research firm also lowered their estimate for the company to $10 from $20. Superior Bancorp is a Birmingham, Ala.-based holding company. The downgrade was based on market concerns over credit quality in Florida, where many of Superior’s locations are. During the past year, the company’s shares have ranged from the low of $7.01 it achieved just after today’s open to a high of $40.20. The stock is down more than 67% since January. In today’s trading, Superior shares are at $7.04 at 10:45 a.m. ET, down $1.01 from Friday’s close.

Aladdin Knowledge Systems Ltd (Nasdaq:ALDN), Quest Resource Corp (Nasdaq:QRCP) and Allscripts Healthcare Solutions Inc (Nasdaq:MDRX) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Superior Bancorp (Nasdaq:SUPR), PrivateBancorp Inc (Nasdaq:PVTB), Triangle Capital Corp (Nasdaq:TCAP), Halozyme Therapeutics Inc (Nasdaq:HALO), Pacific Sunwear of California Inc (Nasdaq:PSUN) and Orion Marine Group Inc (Nasdaq:OMGI).

Here are the most actively traded companies among small caps:

Jeffersonville Bancorp (Nasdaq:JFBC), Sterling Financial Corp (Nasdaq:STSA) and BMB Munai Inc (Nasdaq:KAZ) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Superior Bancorp (Nasdaq:SUPR), Pantry Inc (Nasdaq:PTRY), IPC The Hospitalist Co Inc (Nasdaq:IPCM), Anchor Bancorp of Wisconsin Inc (Nasdaq:ABCW), Journal Communication Inc (Nasdaq:JRN) and First Regional Bancorp (Nasdaq:FRGB).

Here are the biggest percentage losers among small caps:

Superior Bancorp (Nasdaq:SUPR), Lucas Energy Inc (Nasdaq:LEI) and Guaranty Financial Group Inc (Nasdaq:GFG) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

Protection One Inc (Nasdaq:PONE), China Finance Online Co Ltd (Nasdaq:JRJC) and Silicon Graphics Inc (Nasdaq:SGIC) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

EMCORE Corp. (Nasdaq:EMKR), Chordiant Software, Inc. (Nasdaq:CHRD) and Solarfun Power Holdings Co., Ltd. (Nasdaq:SOLF) are among the most actively traded companies in Wednesday's pre-market trading among those with market capitalizations under $750 million.

Superior Bancorp (Nasdaq:SUPR), Hansen Medical, Inc. (Nasdaq:HNSN) and China Sunergy Co., Ltd. (Nasdaq:CSUN) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Wednesday's pre-market trading:

Shares of Superior Bancorp (Nasdaq: SUPR) are rising following news before the start of trading of an increase in third-quarter profit.

Operating income for the three months ended Sept. 30 was $2.6 million, or $0.07 per share, compared with operating earnings of $1.5 million, or $0.07 per share, a year earlier. The result is in line with Wall Street’s expectations.

“Despite external headwinds of our industry—credit cycle, housing market correction and stock market volatility—we are pleased to report a new record income level for our company,” said CEO Stan Bailey in a statement.

The Birmingham, Ala.-based bank, which has 66 branches with 40 locations throughout the state of Alabama and 26 locations in Florida through its subsidiary Superior Bank, increased its total assets 58% to $2.9 billion, from $1.84 billion during the third quarter of 2006.

Superior Bank also announced that it is planning on opening nine new branches during the fourth quarter of 2007 and three branches in early 2008 in Alabama and Florida.

At 12:07 p.m. ET, shares of Superior Bancorp. (SUPR) were up $0.41, or 6%, to $7.70. The 52-week high is $11.87, reached on March 2. The 52-week low of $7.18 was set on Oct. 26, 2006.