Tag - NYSE:HLX

Today we'll look at Helix Energy Solutions Group (NYSE: HLX), a contracting company that provides services to offshore energy companies. Helix Energy Solutions Group isn't a dividend payer like Carbo Ceramics, but it's attractive for an entirely different reason - its services should help get America's deepwater drilling in the Gulf of Mexico back on track following the 2010 oil spill by BP (NYSE: BP).

Small-cap stocks extended the bear market collapse Thursday, tumbling to the lowest point since May 2003 as a familiar combination of awful economic data and flight-to-quality money flow was accentuated by a rout in energy stocks. The market generated an impressive midday recovery to positive territory on oversold conditions and erratic bargain hunting but failed to sustain the move. Some of today’s small-cap gainers are Ambac (NYSE:ABK), Doral Financial Corp. (NYSE:DRL) and China Distance Learning (NYSE:DL).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund tumbled some 10% today as energy names were a big drag on index products big and small.  
• Crude oil prices tumbled some 8% to three-year lows as fears of sinking global demand continues to hammer energy prices.  
• The market will get a break from any major economic reports Friday, allowing other factors to compete for investor attention.  
• Benchmark 10-year notes saw yields down more than 6%, an astounding move as investors appeared to pour cash into Treasuries.  


Small Cap Gainers:

• Ambac commutes $3.5 billion in CDO exposure; shares skyrocket 80%. See (SEE:ABK).
• Doral Financial Corp. is up 34% after narrowing its Q3 losses by 97%. See (NYSE:DRL).  
• China Distance Learning sees a decline in net profits but a rise in net revenue. Shares are up over 13%. See (NYSE:DL).  
• Aircastle Limited up 12% after kissing a 52-week low of $2.78 this morning, down from a 52-week high of $28.02. See (NYSE:AYR).  

Small Cap Losers:

• Media General shares lost as much as 54% of their value on Thursday after Harbinger Capital sold stock in the newspaper publisher. See (NYSE:MEG).  
• Arbor Realty Trust hit a new 52-week low of $1.90, down from a 52-week high of $19.20. Shares are currently down 31%. See (NYSE:ABR).
• Helix Energy Solutions Group Inc. closed down 44% as the offshore development company said that production in the wake of Gulf hurricanes was near 50% of pre-storm levels. See (NYSE:HLX).  
• Sandridge Energy Inc. tumbled 42% as the natural gas company set record lows for their stock. See (NYSE:SD).  

Small-cap stocks extended the bear market collapse Thursday, tumbling to the lowest point since May 2003 as a familiar combination of awful economic data and flight-to-quality money flow was accentuated by a rout in energy stocks. The market generated an impressive midday recovery to positive territory on oversold conditions and erratic bargain hunting but failed to sustain the move. In the end, the Russell 2000 (NYSE:IWM) closed down 27.07, or 6.56% to 385.31. Small caps are now down 50% for 2008, while the Dow is off 43% and the S&P 500 is down 49%.

Investors fleeing stocks for safer water isn’t a new theme, but the concept was a big part of the story today. The yield on various Treasury notes hit multi-year lows, and in some cases record lows. Benchmark 10-year notes actually saw yields down more than 6% late in the day, an astounding move as investors appeared to give up on anything asset class with risk and poured cash into Treasuries.

The on-again, off-again bailout package for automakers looked like a go at midday, sparking a big recovery rally for shares of GM and Ford, but the rescue package apparently still has to clear some hurdles, which sparked a slide in automaker stocks from their midday peak late in the day. Shares in Ford Motor Co. (NYSE:F) were flat late in the day, while General Motors Corp. (NYSE:GM) was up 6%.

The tone for a rugged day was cast ahead of the opening when the latest data on weekly unemployment claims showed that 542,000 Americans filed for unemployment insurance last week – the largest one-week total in 16 years. What’s more, the number of people unable to find a job and remaining on continuing claims rose to 4.012 million, the highest number in 26 years. There are a lot of people out of work who can’t find a job, and there are a bunch of new people joining their ranks every week. In that type of environment, an economy that is already struggling will continue to sputter – the only question is how much of the negative economic news is already priced into this historic stock market collapse. The market will get a break from any major economic reports Friday, allowing other factors to compete for investor attention.

The energy market was also a big bearish factor for stocks today. Crude oil prices tumbled some 8% to three-year lows as fears of sinking global demand . . .

Small-cap stocks remained lower into midday trading, but were also well off the morning lows as oversold conditions, erratic bargain-hunting, firm tech and retail stocks helped limit some of the gloom surrounding the latest economic news. The market continued to fret about the fate of domestic automakers, and continued to suffer money flow exit into safe-haven docks. At 12:24 p.m. ET, the Russell 2000 (NYSE:IWM) was down 3.93, or 0.95%, at 408.45.

The U.S. trading session started off on a sour note as the latest weekly unemployment claims spiked to 542,000, which marked the highest point in 16 years. Continuing claims, which represent people unable to find work, rose to 4.012 million, the highest point in 26 years. The labor market is bleak right now, and expected to get even worse over the next couple of months, the only debate is whether or not the economic “bad news” is already factored into the historic collapse in stocks. Since the Russell this morning plunged to the lowest point since May 2003, the immediate answer seems to be “no.” Still, there plenty of market watchers out there who believe that bad economic data is not a surprise and that valuations are very attractive; if the market will only get past the current crisis of confidence, then things could turn very quickly.

Of course, it’s easier said than done. Investors with cash left are piling it into credit products, regardless of how terrible the yield might be. This has become an epic week for Treasury products, with yields on 2-year notes sinking to record lows, while the benchmark 10-year note today tumbled to the lowest point in more than 5 years. The mentality in play seems to be “right now, protect my money; I’ll look for returns down the road.”

Crude oil prices tumbled below $50 a barrel, reaching the lowest point since May 2005 and energy stocks were taking a beating today, acting as a major drag on index products. The Energy Select Sector SPDR Fund was off 6.7% at . . .

Tortoise Energy Capital Corp. (Nasdaq:TYY), Tortoise Energy Infrastructure Corp. (Nasdaq:TYG) and NL Industries Inc. (Nasdaq:NL) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Liberty Media Corp. (Nasdaq:LCAPA), Hungarian Telephone and Cable Corp. (Nasdaq:HTC), Clear Channel Outdoor Holdings Inc. (Nasdaq:CCO), Renaissance Learning Inc. (Nasdaq:RLRN) and Helix Energy Solutions Group Inc. (Nasdaq:HLX).

Here are the biggest percentage losers among small caps: