Tag - NASDAQGM:TSCM

Small-cap stocks edged lower Tuesday, with the Russell 2000 (NYSE:IWM) sinking 6.44, or 0.89%, to 718.93. Small caps had plenty of good news to embrace Tuesday, but a wave of sloppy earnings and cautious profit-taking from longs ahead of Wednesday’s FOMC announcement kept the buyers at bay. Small caps noticeably underperformed relative to the Dow and S&P 500, which is a caution signal for the market heading toward huge economic calendar event risk the rest of the week.

Losses were limited by a firm U.S. dollar, which pushed about 0.6% higher versus the euro, rising to the highest point in three weeks. The firm greenback played a role in a sharp retreat in crude oil prices, which tumbled 2.5% in the shadow of yesterday’s record high level. Retail, transportation and airline stocks received a boost from the pullback in energy prices. The commodity spectrum in general was lower Tuesday, with the Commodity Research Bureau Index of commodity prices down 1.8%, pulled lower by the slide in energy and also by a corrective dip in grains a day after corn prices hit record levels.

Within broad market sectors, food retail stocks were up 5%, airlines up 3% and education services were up almost 3%. Meanwhile, fertilizer shares were down 8%, metals and mining were down almost 5%, and agricultural products were down about 4%.

The stock market has been on an impressive upside push since March lows, with the Russell rising about 12%, the Dow up 9.5% and the S&P 500 up about 10%. Given the solid return generated for bulls lucky enough to have caught this brush higher, it’s . . .

Intevac, Inc. (Nasdaq:IVAC), Digi International Inc. (Nasdaq:DGII) and Royal Bancshares of Pennsylvania, Inc. (Nasdaq:RBPAA) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $750 million.

LCA-Vision Inc. (Nasdaq:LCAV), G&K Services, Inc. (Nasdaq:GKSR) and TheStreet.com, Inc. (Nasdaq:TSCM) are also among the top small-cap percentage losers.

Here are Tuesday's biggest percentage losers among small caps:

Small-cap stocks opened lower after the opening bell, experienced a slight bump after the Consumer Confidence report was released at 10 a.m., but are continuing to slide in midday Tuesday trading. At 12:37 p.m. ET, the Russell 2000 (NYSE:IWM) was down 8.19, or 1.13%, to 717.18.

The Conference Board reported that April’s Consumer Confidence Index slumped to 62.3, the lowest level in five years, from a revised 65.9 in March. Economists expected the index, which has declined fourth months in a row, to decline to 61.

During a morning press conference, President Bush said Congress should allow more domestic energy production. Higher production would lower record-high gas prices, he said. Bush said gas prices have risen $1.40 per gallon since the Democrats won a majority in Congress, and pointed to stalled efforts to open drilling in Alaska’s Arctic National Wildlife Refuge, which would “likely mean lower gas prices.” The president will consider proposals by Sen. John McCain and Sen. Hillary Clinton to suspend the federal gas tax, but did not provide backing for the proposal. The President also noted that the economic stimulus package is in on the way.

Large-cap movers this morning included drug company Merck & Co. (NYSE:MRK), which was down 8% on news that the FDA rejected a new cholesterol drug. From an overall stock market picture, the news had a somewhat muted impact, because it lifted Merck competitor Abbott Labs (NYSE:ABT) by 3%. In addition, Visa (NYSE:V) posted decent earnings ahead of the opening, and the financial firm is up 1% in midday trading after dipping in earlier action.

Within the small-cap spectrum, LCA Vision Inc. (Nasdaq:LCAV) is down 17%, gapping lower on weak earnings. Intevac Inc. (Nasdaq:IVAC) was down 23% as well, also on earnings news, and TheStreet.com Inc. (Nasdaq:TSCM) was off 13% on soft earnings. Digi International Inc. (Nasdaq:DGII) shares are slumping more than 19% after the Minnetonka, Minn.-based company reported early Tuesday that its second-quarter revenue totaled $43.1 million, which fell short of Wall Street’s expectation of $51.1 million.

Small-cap stocks opened lower, slightly trimmed losses after the Consumer Confidence report came out at 10:00 a.m. ET, but then retreated right back to pre-release levels. The report showed an upward revision to the March report, which provided a brief bid to the market, but it was not enough to catch hold (at least immediately). At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.84, or 0.25%, at 723.53.

The Consumer Confidence report was pegged at 62.3 in April, which was in line with the forecast of 62, but the March number was revised upward to 65.9 versus 64.5. Still, the April figure was the lowest in five years.

Next on line … President Bush is slated to hold a press conference at 10:30 a.m. ET, where he is expected to talk about the economy.

The opening action was soft in line with overnight declines on a dip in European shares as Deutsche Bank posted its first quarterly loss in five years, and French tire company Michelin tumbled 9% on sloppy earnings.

Large-cap companies influencing trade this morning included drug company Merck & Co. (NYSE:MRK), which was down 7% on news that the FDA rejected a new cholesterol drug. From an overall stock market picture, the news had a somewhat muted impact, because it lifted Merck competitor Abbott Labs (NYSE:ABT) by 4%. In addition, Visa (NYSE:V) posted decent earnings ahead of the opening, but the financial firm was down 3% in early action.

The S&P 500 stalled approaching the 1,400 level on the latest push upward, and that key figure resistance will be closely watched through the rest of the week’s major economic events. In the Russell 2000, the market yesterday climbed . . .

Shares of TheStreet.com, Inc. (Nasdaq:TSCM) are treading lower in pre-market trading after the financial news website reported first-quarter results this morning that fell short of the consensus on Wall Street. The company attributed the dip in earnings to the redesign of its flagship website and a sister website, MainStreet.com; but also noted that it is experiencing strong advertising demand.

Shares slipped 13%, or $1.23, to $8.25 in pre-market trading. For detailed price information and recent news stories about TheStreet.com, click TSCM.

TheStreet.com, Inc. (Nasdaq: TSCM)
New York, N.Y.
http://www.thestreet.com

52-week low / high: $8.20 / $14.83
Shares Outstanding: 29.47 million
Market Capitalization: $412.34 million

If you follow the stock market, and we’re assuming you do, you’ve no doubt heard of TheStreet.com, Inc. (Nasdaq: TSCM). The multimedia investment news company, co-founded in 1996 by well-known business journalist James Cramer, brought in an average of 6.3 million monthly unique visitors to its network of online properties, according to its third-quarter statement.

During that most recent three month period, ended Sept. 30, TheStreet.com reported that revenue increased 24% to a record $16.1 million, from $12.9 million a year earlier. The increase helped lift net income 22% to $3.8 million, or $0.13 per share, compared with $3.1 million, or $0.11 per share, during the third quarter of 2006. Analysts were projecting earnings of $0.12 per share.

Flush with $38.9 million in cash and no long-term debt, TheStreet.com has recently embarked on a buying spree. On Aug. 2, it announced the purchase of Corsis, a provider of solutions for advertisers, marketers and content publishers looking to implement online promotional campaigns. The acquisition includes the advertising site Promotions.com and is valued at about $20.7 million.

In a statement, CEO Thomas Clarke said he hopes the buyout will allow TheStreet.com to provide advertisers with more integrated marketing campaigns and expand gross margins. The acquisition moves TheStreet.com one step closer to becoming a one-stop shop for advertisers.

As of January 2007, the company also owns a 49.9% stake in stock investment social networking site www.stockpickr.com and has the right to sell advertising on the site.

TheStreet.com, Inc. (Nasdaq: TSCM) shares are up slightly in morning trading after the investing website operator’s third-quarter profit soared to $19.75 million, or $0.58 per share, above analyst estimates of $0.12 per share and compared with $3.09 million, or $0.11 per share, a year earlier.

The financial news company, founded by CNBC pundit Jim Cramer, realized a tax gain of $16 million during the three months ended Sept. 30. Excluding that gain, the New York City-based firm’s quarterly profit was $3.8 million, or $0.13 per share.

“We had a record quarter where our total revenue grew 24% from the same period last year,” CEO Thomas J. Clarke Jr. said in a statement. “With our recent acquisitions and the many other initiatives we have undertaken, TheStreet.com has dramatically altered and broadened the landscape of opportunities for the company. I look forward to cohesively and profitably integrating these opportunities as we strive toward becoming the premier online destination for money.”

The company’s third-quarter revenue rose to $16.1 million, in line with Wall Street projections of $16.3 million and compared with $12.9 million during the same period of 2006.

TheStreet.com announced its acquisition of Bankers Financial Products on Nov. 2. During August, the company acquired Corsis, an online promotions agency.

In morning trading, TSCM shares are up 3.9%, or $0.51, at $13.60. Over the last 52 weeks, shares have ranged from $8.15 to $14.83.