Tag - NYSE:TLB

Talbots Inc. (Nasdaq:ALTH), Morgan Stanley (Nasdaq:TTWO) and BPW Acquisition Corp. (Nasdaq:BPW) and Incyte Corp. (Nasdaq:INCY) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Take Two Interactive Software (Nasdaq:TTWO), Netlist Inc. (Nasdaq:NLST), Lennar Corp. (Nasdaq:LEN) Stec Inc. (Nasdaq:STC) and American Axle and Manugacturing Holdings Inc. (Nasdaq:AXL).

Today looks like an easy one: solid earnings from Alcoa (NYSE:AA) + lower than expected initial jobless claims = higher stock prices.

We've seen the initial jobless claims vary quite a bit lately. Some weeks they have been worse than expected, some weeks better. As I've said, this is to be expected as the US economy puts in a floor.

Now, most economists expect unemployment to stay on the floor a lot longer than other recessionary conditions. And this is going to be a drag on GDP. But unemployment isn't necessarily a drag on all corporate earnings. In fact, we've already seen job cuts help some companies boost their profitability. And there are sectors where the drop in consumer spending will have only a minimal impact...

One of the IPOs we've been expecting came out today. Verisk Analytics (Nasdaq:VRSK) was apparently offered at $22 for the lucky investors who were able to get their orders in pre-IPO. For the rest of us, Verisk Analytics opened at $26.41 and finished the day at $27.85. That's a nice gain for those that got the pre-IPO price. But on the day, only 5% gains were attainable.

The two IPOs we were looking for today have apparently been delayed. We'll look for Omeros Corp (proposed symbol OMER, expected to debut in the $10-$12 range) and Mistras Group (proposed symbol MG, expected to debut in the $14-$16 range) tomorrow.

High-end retailer Talbot's (NYSE:TLB) made the Top Gainers list with a 16% move on an analyst upgrade. The Friedman, Billings & Ramsey analyst gave the stock a $13 price target, a significant step up from yesterday's close at $9.56.

Now, retailers (other than Wal-Mart (NYSE:WMT)) have been laggards for the most part. It's easy to see why. High unemployment has crushed spending and retail sales are way down. And so are the stock prices...

United Community Bancorp (Nasdaq:UCBA), Domtar Corp. (Nasdaq:UFS) and BankAtlantic Bancorp Inc. (Nasdaq:BBX) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Oncothyreon Inc. (Nasdaq:ONTY), ENPRO Industries Inc. (Nasdaq:NPO), Unitrin Inc. (Nasdaq:UTR), Cray Inc. (Nasdaq:CRAY), Universal Technical Institute Inc. (Nasdaq:UTI) and Talbots Inc. (Nasdaq:TLB).

Smith & Wesson Holding Corp. (Nasdaq:SWHC), Solutia Inc. (Nasdaq:SOA) and Famous Daves of America Inc. (Nasdaq:DAVE) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Talbots Inc. (Nasdaq:TLB), SL Industries Inc (Nasdaq:SLI), China Medical Technologies Inc. (Nasdaq:CMED), AFC Enterprises Inc. (Nasdaq:AFCE), Twin Disc Inc. (Nasdaq:TWIN) and Vocus Inc. (Nasdaq:VOCS).

Stocks were up today in reversing the downward trend from the week with leadership from financials and healthcare. Most notably blue chips JPMorgan Chase & Co. (NYSE:JP), Goldman Sachs (NYSE:GS), Pfizer (NYSE:PFE), and Merck (NYSE:MRK) were up. Rounding out the leaders in financial were Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC).

The Dow ended the day's trading session up 0.69% to close at 8,555 while the Nasdaq declined 0.02% and the S&P 500 saw gains, closing at 918, up 0.84%.

Small-cap bellwether Russell 2000 Index, representing the 2,000 largest small-cap stocks, closed up 0.36% to 509.

Leading small cap gainers reflected the broader push top leaders in financials including National Penn Bancshares (Nasdaq:NPBC) up 31.4%; American Capital (Nasdaq:ACAS) up 27.1%. Other gainers include Myriad Pharmaceuticals (Nasdaq:MYRXV) up 15.7%; Nelnet (NYSE:NNI) up 30.5%; and Talbots (NYSE:TLB) up 16%.

Small-cap decliners were lead by Liz Claiborne (NYSE:LIZ) down 25.9%, on forecasts of larger than expected losses. The company gave no indication for the larger losses other than the message from all apparel companies that consumers are cutting back on what they consider nonessential purchases. Liz Claiborne reported a loss of 37 cents per share in the first quarter, excluding one-time items. Analysts had forecast 33 cent loss per share for the second quarter. No guidance was provided by the company as to what the revised forecast might be. This played into investor concerns as sellers look to unload shares as reflected in higher than normal volume.

In other news concerning Liz Claiborne, the company announced yesterday that it intends to offer $75 million in convertible senior note due 2014. It is the company's intention to use the proceeds to pay down a portion of borrowings under an amended credit facility. 

*****10 banks have paid back $68 billion in TARP loans. Including some smaller banks that have already repaid loans, the total is now over $70 billion. Even though the repaid money was raised from secondary stock offerings, which dilute shareholder value, it's still something of a positive sign, I suppose.

Now, what's going to happen to the money? Will it sit in the TARP fund? Will it be used to back other loans to small businesses?

This is an inflation issue. The money supply has increased by around $1 trillion in the last year (much of the bailout "funds" have been loan and asset guarantees that haven't increased the money supply, yet). It's the Fed's job to contract the money supply to keep price inflation in check.

This is the problem with creating money - you have to be willing to "uncreate" it at some point. With unemployment as high as it is, inflation is not yet a concern. But that will change eventually, and the Fed will have to have the resolve to contract the money supply when the economy starts showing signs of life.

As we've seen in the past, an economy that gets hooked on liquidity is very hard to wean. I personally have my doubts as to whether this Fed will be able to avoid the Greenspan legacy of allowing asset bubbles to form. So we want to be ready to profit form whatever asset bubbles arise in the future.

This is one of the topics we'll be discussing in next Wednesday's Video Conference. It's titled Inflation Busters: Discover the Stocks to Grow and Protect Your Wealth and will air on Wednesday, June 24 at 6:00 P.M. It's free to attend, you can sign up HERE

*****Stocks are trying to put an end to the sell-off that started with Monday's big decline. The S&P 500 is within a few points of its 200-day moving average. It's also less than 20 points from its 50-day moving average.

One of the simplest trend following systems focuses on the crossover of the 50-day and 200-day MA. When the 50-day MA crosses above the 200-day MA, it signals a trend change from bear to bull. When the 50-day MA falls below the 200-day MA, it signals a change from bull to bear.

So, the current trading is very significant to technical traders. The S&P 500 is flirting with a major buy signal. It should be noted that the Nasdaq flashed the moving average crossover buy signal a few days ago. I would view the moving average crossover on the S&P to be confirmation of the Nasdaq signal.

*****Jason Cimpl, technical analyst at TradeMaster Daily Stock Alerts, isn't waiting. He's expecting a strong bounce and recommended 3 upside positions to his readers yesterday. One of them, the Direxion Technology Bull (NYSE:TYH), is a leveraged ETF that seeks triple the daily gains on the Russell 1000 Technology Index. That trade finished the day with a 3% gain.

Don't forget the new Daily Profit feature - Jason will give us another video chart analysis session tomorrow. In last Friday's edition he pretty much nailed this week's trading so I can't wait to see what he has to say about next week.
 
*****I'm itching to recommend a new stock to Daily Profit readers. We did pretty well with Graham Corp (AMEX:GHM) and Hovnanian (NYSE:HOV) earlier in this rally. 

I can't say I feel comfortable recommending Molecular Insight Pharmaceutical (Nasdaq:MIPI), but the story that came out yesterday is pretty darned interesting. The biotech announced that it can both detect and treat prostate cancer with its imaging agent, Trofex. And instead of the usual 5 tests including MRI and ultrasound, Molecular Insight can collect the necessary data for diagnosis within 2 hours of the Trofex injection.

The stock was up 42% to $6.24 yesterday. Of course, like most small biotechs, Molecular Insight is burning through cash like a teenager at the mall. But if this technology is viable, the stock will go a lot higher than $6.24.

Just thought you'd like to know…talk to you tomorrow.

 

 

National Penn Bancshares Inc. (Nasdaq:NPBC), Nelnet Inc. (Nasdaq:NNI) and Molecular Insight Pharmaceuticals Inc. (Nasdaq:MIPI) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ChinaCast Education Corp. (Nasdaq:CAST), Wonder Auto Technology Inc. (Nasdaq:WATG), Fuel Systems Solutions Inc. (Nasdaq:FSYS), Celldex Therapeutics Inc. (Nasdaq:CLDX), Fuqi International Inc. (Nasdaq:FUQI) and Talbots Inc. (Nasdaq:TLB).

Stocks extended losses from Monday, unable to push higher after weak housing data was released and Fed Chairman Ben Bernanke made somber statements to Congress about the economic situation. Some of today’s small-cap gainers were ABM Industries (NYSE:ABM), Talbots (NYSE:TLB) and Thor Industries (NYSE:THO).

Other Market Watch highlights today included:

• The Russell 2000 (NYSE:IWM) closed down 6.79, or 1.85%, to 361.01. The Dow closed down 0.55% to 6,726.02 and the S&P 500 closed down 0.64% to 696.33.  The S&P 500 closed below 700 for the first time since 1996.
• For the year, the Russell is now down 27.72%, the Dow is down 23.36% and the S&P 500 is down 22.91%.
• Global stock markets fell further Tuesday, after news broke Monday that small-cap insurer AIG reported the biggest quarterly loss in corporate history, and HSBC Holdings slashed its dividend, revealed it needed to raise $18B from shareholders.
• Citigroup said today that in order to help the unemployed, it would start a new program to lower some mortgage payments to an average $500 for three months.
• Small-cap GM says February U.S. sales will be "exceptionally weak."
• Oil prices rose during Tuesday's trading, settling up $1.50 to end the day at $41.65. 
• This morning, Bernanke reiterated to Congress that any semblance of economic recovery hinges on the U.S. government’s ability to stabilize ailing financial markets.
• New data today revealed that the number of homebuyers purchasing existing homes fell 7.7% to a new low of 80.4 in January. Economists were predicting a January reading of 85.1.

Small Cap Gainers:

• ABM Industries announced first-quarter fiscal 2009 financial results; shares climbed 24%. See (NYSE:ABM).
• Talbots closed a $200M credit line, suspended its dividend and froze . . .

Small caps opened lower, extending losses seen on Friday. At 10:40, the Russell 2000 (NYSE:IWM) is down 15.09, or 3.37%, to 433.27. The Dow is down 3.15%, while the S&P 500 is 3.91% lower. This morning’s slide took the S&P 500 below the 800 level for the first time since the bear market low of Nov. 21 as financials and shares of big energy companies weighed.

General Motors Corp. (NYSE:GM) is down 12.8% ahead of its expected proposal out today with Chrysler LLC. The companies plan to submit the details to the Obama administration to illustrate that the two battered automakers can return to profit. The proposal aims to cut jobs and pare brands, among other things, in hopes of securing billions of dollars in additional federal aid that the companies say they will pay back. General Motors is asking for another $4 billion on top of the $9 billion it has already received, while Chrysler wants another $3 billion on top of the already borrowed $4 billion.

President Obama is scheduled to sign the $787 billion stimulus bill into law today, and is set to detail a plan on Wednesday to help stem mortgage foreclosures. By the losses Wall Street has seen this morning, it seems investors have . . .

Small-cap stocks remained solidly higher into mid-session activity, with industrial, commodity and energy stocks paving the way higher after President-elect Obama announced plans for a massive infrastructure project over the weekend. Some of today's small-cap gainers included Integrated Electrical Services Inc. (Nasdaq:IESC), TBS International Ltd. (Nasdaq:TBSI) and James River Coal Co. (Nasdaq:JRCC).

Other Market Watch highlights included:

• Commodities in general were in favor today, with crude oil prices climbing 7%, while energy stocks were up more than 4%.  
• On the downside, personal products firms, hypermarkets, food distributors, retail drug companies and restaurants were the primary losing sectors.  
• The best performers so far today have been industrial REITs, metal and mining stocks, automobile manufacturers, aluminum firms and steel companies.
• Small-cap stocks remained solidly higher into mid-session activity, with industrial, commodity and energy stocks paving the way higher.  
• A big part of the early rise in stocks was tied to news this weekend that Obama was planning a massive infrastructure stimulus project.  

Small Cap Gainers:

• Integrated Electrical Services Inc. jumped 34% presumably riding the wave of industrial and energy-related services companies higher. See (Nasdaq:IESC).  
• TBS International Ltd. jumped 30% as the ocean transportation services company got an earnings-related lift. See (Nasdaq:TBSI).  
• James River Coal Co. rallied 26%, receiving a lift with other beaten-down commodity names. See (Nasdaq:JRCC).
• Cemex rallies as Deutsche Bank says it may gain from U.S. plan. See (NYSE:CX).

Small Cap Losers:

• The Talbots announces CFO retires, hires a new COO. Shares fall over 12%. See (NYSE:TLB).  
• Radian Group dips 10% on lower-than-average volume. See (NYSE:RDN).
• Blyth cuts earnings outlook, down 4% in light after-hours trade. See (NYSE:BTH).  
• Allos Therapeutics slumping 21% in pre-market, reports Propel trial results. See (Nasdaq:ALTH).

Small-cap stocks pushed higher on the opening, lifted by a rally in overseas markets, weekend talk of a huge infrastructure stimulus plan from President-elect Obama and a bounce in commodity stocks.  Some of today's small-cap gainers included Chicago Bridge & Iron Co. (NYSE:CBI), Polypore International Inc. (NYSE:PPO) and Clean Energy (Nasdaq:CLNE).

Other Market Watch highlights included:

• A big part of the early rise in stocks was tied to news this weekend that Obama was planning a massive infrastructure stimulus project.  
• The Mexican peso, South African rand were both in rally mode, as money flow into emerging markets and commodity exporters was in vogue.  
• Some of the support in commodities was tied to a slide in the U.S. dollar, which was down 1.2% against the euro.  
• Crude oil prices were up $2.70/barrel into the open, trying to mount a bounce after hitting 4-year lows Friday, falling 25% last week.

Small Cap Gainers:

• Getting a lift from the infrastructure talk and the announcement of dividends, Chicago Bridge & Iron Co. N.V. rose 17%. See (NYSE:CBI).  
• Polypore International Inc. jumped 17%, climbing above the 20-day moving average with conviction for the first time since late August. See (NYSE:PPO).  
• Clean Energy opens large-scale LNG production plant; stock is 13.7% higher in pre-market. See (Nasdaq:CLNE). 
• Canadian Solar up 13% in pre-market, buoyed by President-elect Obama's plans to ramp up infrastructure spending. See (Nasdaq:CSIQ).  

Small Cap Losers:

• Allos Therapeutics slumping 21% in pre-market, reports Propel trial results. See (Nasdaq:ALTH). 
• The Talbots announces CFO retires, hires a new COO. Shares fall over 12%. See (NYSE:TLB).
• Blyth cuts earnings outlook, down 4% in light after-hours trade. See (NYSE:BTH).  
• ESI, Zygo report early termination of HSR waiting period for planned merger; shares of ESIO fall 3.3% in pre-market. See (Nasdaq:ESIO).  

Small-cap stocks extended the morning free fall, with financial, retail and commodity sectors all taking a beating as investors recoiled from a batch of brutal manufacturing data from around the world and fretted about the true eventual returns from this holiday spending season. Today's small-cap gainers are Premiere Global Services (NYSE:PGI), Emrise Corp. (NYSE:ERI) and VAALCO Energy (NYSE:EGY).

Today's Market Watch highlights included:

• Retail stocks were down today, with the S&P Retail Index at -5.7% despite early press reports that Black Friday was a success.  
• The Commodity Research Bureau Index of 19 physical markets was down 3.2% at midday.  
• The dollar was firm against the euro, which further played into the collapse in commodity markets.  
• Crude oil prices were down some 8% so far today, with U.S. crude benchmark values slipping through the $50 support line.

Small Cap Gainers:

• Shares of Premiere Global Services are up 30% after Oppenheimer & Co. upgraded the company to "outperform" from "perform." See (NYSE:PGI).  
• Emrise Corp. up 12% after receiving $1 million in new orders for in-flight entertainment products. See (NYSE:ERI).  
• VAALCO Energy up 11% on heavy volume. See (NYSE:EGY).  
• Nektar Therapeutics up about 10% on lower-than-average volume. See (Nasdaq:NKTR).

Small Cap Losers:

• China Valves Technology Inc. collapsed 79% on the China manufacturing woes, but it should be noted that this stock rarely trades much anyhow and was down on less than 1,000 shares trading today. See (Nasdaq:CVVT).  
• Russian steelmakers Mechel, TMK request a total of $3 billion in state loans to refinance their foreign debt. MTL is down 28.5%. See (NYSE:MTL).
• Excel Maritime Carriers dives 27% today following a downgrade last week from Cantor Fitzgerald to "sell" from "hold." See (NYSE:EXM).
• Gulf Island Fabrication Inc. tumbled 23% as the offshore drilling platform specialist was caught in the undertow of the slide in energy values. See (Nasdaq:GIFI).  
• Talbot's falls another 22% today following a widened Q3 net loss, conference call last week. See (NYSE:TLB).  

Small-cap stocks had an up and down session Tuesday, but in the end the bulls won the skirmish. Support from new government credit rescue plans was juxtaposed against soft economic news, weak tech stocks and a market that may have been ready for a breather after two days of manic gains. The Russell 2000 (NYSE:IWM) was up 6.39, or 1.46%, at 443.18 and is now down 42% for the year. The Dow and S&P 500 lagged gains in small caps, but also closed higher and are now down 36% and 42% for 2008, respectively.

Technology stocks were a drag on the market today, as the tech-laden Nasdaq-100 persistently underperformed the rest of the market and shed 1% on the day. Bellwether tech stocks such as Hewlett-Packard Co. (NYSE:HPQ), Cisco Systems Inc. (Nasdaq:CSCO) and Research in Motion Ltd. (Nasdaq:RIMM) took a hit, with HPQ down 5.8%, CSCO off 5.9% and RIMM down 8.3%. Analyst downgrades and worries about spending for technology in a difficult global environment seemed to counter optimism about the new credit facilities throughout much of the day.

The market started out on a positive tone Tuesday, as the government unveiled plans to open credit facilities for mortgage debt and asset-backed consumer products such as student loans, car loans and credit card products, which is hoped will further spark lending interest and help pull the economy out of the doldrums.

Speaking of the economy, the latest read on third-quarter GDP came out today, and as expected the U.S. economy contracted by 0.5%, a sobering thought considering most market watchers expect things to get quite a bit worse in the fourth quarter. Another contraction in GDP in the final quarter of the year would be enough for an “official” recession label, but many argue that we’ve been in a recession for several months already. In addition to the GDP report, a report on housing showed that home prices generated the largest decline on a year-over-year basis on record, but a reading on consumer confidence actually came in above the forecast, a mild upbeat note heading into the big “Black Friday” shopping bonanza in the United States.

The U.S. dollar took a hit versus the euro today, slipping about 0.8%, which should have helped support commodities. But the commodity all of us watch the . . .

Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend. Gains for commodity stocks and drugs shares helped offset weakness in financials. Today’s small-cap gainers are Luminex Corporation (Nasdaq:LMNX), Emergent BioSolutions (NYSE:EBS) and World Fuel Services (NYSE:INT).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund was up 2.9% at midday, outperforming the broad market indices.  
• Today holds an afternoon press conference by President-elect Obama, who is huddled with economic leaders in Chicago.  
• Financial shares were limping along today and automakers were in full retreat mode.  
• Small-cap stocks remained higher into midday as investors looked beyond an awful reading on employment to snatch up bargains into the weekend.  

Small Cap Gainers:

• Luminex Corporation rallied 24% as the genetic analysis firm also received a lift from earnings news. See (Nasdaq:LMNX).  
• Emergent BioSolutions Q3 profit rises; revises FY08 earnings. Shares climb 18%. See (NYSE:EBS).
• World Fuel Services up 18% as Q3 profit soars on higher revenues. See (NYSE:INT). 
• AmeriCredit announces extension of offer to repurchase 1.75% convertible senior notes due 2023. Shares up 15%. See (NYSE:ACF).  
• Mirant 3Q earnings double on hedging gains, shares up 5%. See (NYSE:MIR).  


Small Cap Losers:

• RHI Entertainment Inc. slumped 27% as the made-for-television entertainment company released earnings results. See (RHIE).
• Talbots to sell J. Jill, pulls outlook; stock down over 20%. See (TLB).  
• Syniverse Holdings down 13% today following a downgrade by Robert W. Baird earlier this week. See (SVR).  
• Bio-Rad's Q3 revenues climb 30%, charges related to DiaMed acquisition cut into the firm’s profit for the quarter. Shares slump 11%. See (BIO).  

Insight Enterprises Inc. (Nasdaq:NSIT), Gaiam Inc. (Nasdaq:GAIA) and Talbots Inc. (Nasdaq:TLB) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dialysis Corporation of America (Nasdaq:DCAI), Accuray Inc. (Nasdaq:ARAY), Griffin Land & Nurseries Inc. (Nasdaq:GRIF), Ames National Corp. (Nasdaq:ATLO), Syniverse Hldg Inc. (Nasdaq:SVR) and Live Nation Inc. (Nasdaq:LYV).

Here are the biggest percentage losers among small caps:

Small-cap stocks went into rally mode Wednesday, as an economic report on “big ticket” purchases soothed investor worries about business and consumer spending habits and allowed the market to shrug off a rally in crude oil prices. The Russell 2000 (NYSE:IWM) closed up 9.44, or 1.30%, at 732.95, and is now down 4.3% for the year. Small caps were strong relative to large-cap indices, with the Dow up 0.79% on the day, while the S&P 500 was up 0.80%. For the year, the Dow is off 13.2%, while the S&P 500 is down 12.7%.

That soothing economic report —  the durable goods release — came in well above expectations at a gain of 1.3% versus the forecast for a meager rise of 0.1%. This data base can be quite volatile, but even when extracting the transportation segment (which can skew the total because of huge airplane purchases), the figure was still up 0.7% and well past expectations, which helped investors think that spending patterns for business and consumers were managing to glide through these difficult times without too much disruption.

However, before anointing an erratic economic release like durables as today’s stock market savior, it should be noted that there are far more dynamic reports on tap Thursday in the form of GDP and weekly unemployment claims.

“I’m not a big fan of the durable numbers,” Nick Kalivas, vice president of financial research with MF Global, said in an email interview. “I think there is short-covering at month-end; just look at the rally in Freddie Mac and Fannie Mae. I agree that the financial system is fragile, but the news has not been overly surprising and the end of the month has hedge funds booking profits on shorts. Small caps also have a history of performing well at the turn of the month, and the upside push in oil might be seen by many as a temporary shock given the relatively firm tone in the . . .

SI International Inc. (Nasdaq:SINT), Talbots Inc. (Nasdaq:TLB) and Borders Group Inc. (Nasdaq:BGP) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Northern Dynasty Minerals Ltd. (Nasdaq:NAK), Quiksilver Inc. (Nasdaq:ZQK), Midwest Banc Holdings Inc. (Nasdaq:MBHI), TomoTherapy Inc. (Nasdaq:TOMO), Community Bankshares Indiana Inc. (Nasdaq:CBIN) and Chico's FAS Inc. (Nasdaq:CHS).

Here are the biggest percentage gainers among small caps:

After a drop in crude oil prices and positive retail sales data caused a buying frenzy during the morning session, small caps have calmed in afternoon trading. At 2:30 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.54, or 0.91%, at 724.42.

U.S. retail sales rose 1% in May, which beat the expected rise of 0.5%. Analysts saw the jump in retail sales as a sign that American consumers were spending their $50 billion in stimulus checks. The positive sales data overshadowed a rise in unemployment claims, which climbed 25,000 to 384,000. It marked the highest point for continuing claims since February 2004. Also, the import price data hit the forecast on the nose, but it still reflected the largest three-month increase since October 1990.

The Commerce Department also said business inventories in April rose by 0.5% in April, which doubled the 0.2% jump clocked in March.

In Thursday afternoon trading, crude oil is down to $135.12 a barrel. The U.S. dollar is up against both the yen and the euro.

Further fueling the bulls was news before the opening that Belgium beer company InBev NV launched an unsolicited bid to acquire Budweiser (NYSE:BUD) for $46.4 billion, or $65 a share or a 14% premium compared with Tuesday’s closing price.

Broad market sectors on the rise this morning included restaurant services, home improvement retailers, brewers, investment services and consumer financial services. Sectors attracting sellers include non-cyclical consumer crops, gold and . . .

Shuffle Master Inc (Nasdaq:SHFL), Downey Financial Corp (Nasdaq:DSL) and Talbots Inc (Nasdaq:TLB) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: China Medical Technologies Inc (Nasdaq:CMED), Western Refining Inc (Nasdaq:WNR), AuthenTec Inc (Nasdaq:AUTH), Palm Inc (Nasdaq:PALM), M I Homes Inc (Nasdaq:MHO) and Optical Cable Corp (Nasdaq:OCCF).

Here are the biggest percentage gainers among small caps:

Small-cap stocks shot higher on the opening, lifted by surprisingly stout retail sales, and an overnight slide in crude oil prices. At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was up 10.99, or 1.53%, at 728.87.

Business inventories data came out at 10:00 a.m. ET and were above the forecast at 0.5%, but had little impact on the market, overshadowed by the earlier retail sales release.

It’s worth noting that the market was already in rally mode well before the retail sales report topped the forecast. Buying enthusiasm was fueled overnight by merger and acquisition talk surrounding Budweiser (NYSE:BUD), by a decline in crude oil prices and a rally in the U.S. dollar. Budweiser shares were up 6% shortly after the opening.

The headline retail sales figure came in up 1%, which was well clear of the forecast for a rise of 0.5%, and the ex-autos figure also topped the forecast, coming in at 1.2%, compared with the forecast of 0.7%. The upside surprise in retail sales was enough to overshadow a jump in unemployment claims, which climbed to 384,000 compared with the forecast of 370,000. It marked the highest point for continuing claims since February 2004. Also, the import price data hit the forecast on the nose, but it still reflected the largest three-month increase since October 1990.

By the time the market opened, immediate gains from the retail sales report were already trimmed as news of a shakeup in the power structure at Lehman Bros. (NYSE:LEH) pulled down the market, at least initially. Lehman Bros. shares were off about 5% in erratic trading shortly after the open, but bounced back into the green about 25 minutes after the open. Lehman shares have been sinking of late, and collapsed about 50% in just four weeks, while keeping the credit crunch fears on the front burner.

Despite all the negative news surrounding Lehman and ongoing worries about the credit crunch, Morgan Stanley analysts issued an upgrade for financial . . .

The Talbots, Inc. (NYSE:TLB) CEO Trudy Sullivan said the women’s apparel retailer’s solid first-quarter results were driven by better management of leaner inventory and tight expense controls. Sullivan made the comments during a morning conference call.

“As we look ahead, we feel well-positioned to achieve our 2008 financial goals,” Sullivan said.

The firm is making progress in its cost cutting and expense control initiatives, and is on track to achieve at least $50 million in cost reductions in 2008, she said. Sullivan said the firm is lowering expenses through layoffs, productivity improvements and the relocation of the headquarters of its J. Jill brand. The company closed 11 Talbots kids stores and two Talbots mens stores during the first quarter.

Before Wednesday’s opening, Talbots said in a statement it will keep its annual profit forecast, excluding restructuring costs, to range from $0.47 to $0.52 per share, which compares with a loss of $0.61 per share during 2007. Wall Street analysts, on average, project a 2008 profit of $0.29 per share. Talbots expects a loss for non-core operations of between $0.59 and $0.64 per share during 2008, compared with a loss of $0.24 per share a year ago. Most of the charges related to restructuring discontinued operations should be behind the company by the end of the third quarter, . . .

Shares of Talbots, Inc. (NYSE:TLB) leaped ahead of the opening bell after the women’s retailer this morning posted first-quarter earnings that fell from a year ago on account of restructuring charges, but when excluding such charges beat the consensus on Wall Street.

The company said it made “significant” progress during the quarter closing Talbots Kids, Mens and U.K. stores, which it expects to complete in the third quarter.

While earnings beat, revenues clocked in just shy of the Street. Total comparable store sales declined 9.8% for the quarter.

Shares jumped 21%, or $1.56, to $9 ahead of the bell. For detailed price information and recent news stories about Talbots, click TLB.

Omnicell, Inc. (Nasdaq:OMCL), Protherics PLC (Nasdaq:PTIL) and The Talbots, Inc. (NYSE:TLB) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $750 million.

VNUS Medical Technologies, Inc. (Nasdaq:VNUS), Phoenix Technologies Ltd. (Nasdaq:PTEC) and AMCORE Financial, Inc. (Nasdaq:AMFI) are also among the top small-cap percentage losers.

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

Here are the day’s biggest percentage gainers and losers, along with top volume leaders, among companies with a market cap between $100 million and $750 million:


• EnerNOC Inc. (Nasdaq:ENOC), up 35% to $12.69.
• POZEN Inc. (Nasdaq:POZN), up 28% to $13.50 on news its migraine drug has received approval from the U.S. Food and Drug Administration.
• Badger Meter, Inc. (AMEX:BMI), up 20% to $50.00 on news it doubled its first-quarter profit.


• The Talbots, Inc. (NYSE:TLB), down 29% to $9.16 on news two banks have cut off credit.
• Healthcare Services Group, Inc. (Nasdaq:HCSG), down 24% to $15.57 on news of a decline in first-quarter profit.
• Porter Bancorp, Inc. (Nasdaq:PBIB), down 10% to $16.18.


• POZEN Inc. (Nasdaq:POZN) 12,816,300 shares traded.
• The Talbots, Inc. (NYSE:TLB) 9,262,700 shares traded.
• Cheniere Energy, Inc. (AMEX:LNG) 6,207,000 shares traded.

Small-cap stocks gapped higher on the opening Wednesday and never looked back, closing near the highs in an impressive display of strength. In the end, the Russell 2000 (NYSE:IWM) climbed 21.32, or 3.08% to 713.39, comfortably notching the fifth-largest one-day percentage gain of the year.

Bulls came out of the gate this morning charging amid perceptions of decent earnings releases from a couple of  big name companies, and a bevy of morning economic reports didn’t contain enough bad news — or at least bad surprises — to quell the buying tide. The headline events for Wednesday’s advance actually kicked off just after the close Tuesday when earnings for Intel Corp. (Nasdaq:INTC) exceeded expectations. The market also saw earnings news from banking giant JP Morgan (NYSE:JPM) and smaller firm Wells Fargo & Co. (NYSE:WFC) as perhaps the light at the end of a dark tunnel for financial institutions that were hit hard by the recent credit crunch and the downfall of Bear Stearns.

It was heartening, if somewhat risky, to see investors find the silver lining in the aforementioned economic reports. Before the regular opening, traders were faced with CPI and Housing Starts, and then Industrial Production data early into the session. The inflation data was essentially in line with the market forecast, and . . .

The Talbots, Inc. (NYSE:TLB), Healthcare Services Group, Inc. (Nasdaq:HCSG) and Provident Community Bancshares Inc. (Nasdaq:PCBS) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $750 million.

Community Central Bank Corp. (Nasdaq:CCBD), Carver Bancorp, Inc. (Nasdaq:CARV) and FPB Bancorp, Inc. (Nasdaq:FPBI) are also among the top small-cap percentage losers.

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

Shares of women’s fashion retailer The Talbots, Inc. (NYSE:TLB) have declined nearly 30% on news before the opening that two banks will no longer provide a total of $265 million in credit. In a filing with the U.S. Securities and Exchange Facilities the Hingham, Mass.-based company said that it will try to secure credit lines with other banks and will resort to using its cash on hand if a new source of financing is not found.

At 12:00 p.m. ET, the stock was off $3.28, or 26%, to $9.57.

The Fed’s rate cut has certainly lifted the retail sector to the best performing of the day; however, Lazard Capital says the fundamentals for the sector still look bleak.

Lazard Analyst Todd Slater says his research suggests the month of January saw store traffic and sales trends below reduced expectations.  

“Outside of hot-trending Ugg footwear and American Apparel basics, there’s not much percolating on the fashion horizon,” Slater wrote in a research note today. “While most retailers are becoming disciplined inventory managers, many are still struggling to liquidate holiday product, and markdowns remain higher than year-ago levels.”

Slater says the best defensive plans “may prove futile. Although January is typically a clearance-driven month, promotional cadence is noticeably higher than last year,” Slater wrote. 

Among the small cap retailers leading the rally today are Bon-Ton Stores Inc. (Nasdaq: BONT), Christopher & Banks Corp. (NYSE: CBK), Shoe Carnival Inc. (Nasdaq: CVL) and Talbots Inc. (NYSE: TLB).

The Talbots, Inc. (NYSE: TLB) CEO Trudy Sullivan said leaner inventories, tighter expenses and more aggressive promotional strategies will drive growth for the women’s clothing retailer. Sullivan made the comments during a morning conference call.

“Although our current trends our somewhat stronger, it is too soon to declare success,” Sullivan said. “We know from our current research that our merchandise is not satisfying our customer and we understand that our assortments need to be more modern, sophisticated, inspiring and fun.”

Sullivan said updated and more fashionable merchandise would capture more casual shoppers.

“Our stores, catalog and website are now fully set for the holidays,” Sullivan said. “We will take advantage of high-traffic periods by offering new and compelling customer traffic-driving events.”

Sales from the Thanksgiving weekend generated “solid, positive” comparable store sales, she said.

The chief executive also said announcements are “imminent” for new employees in “key, critical” positions.

In a morning press release, Talbots reaffirmed its fourth-quarter guidance for a loss in the range of $0.05 to $0.10 per share, compared with breakeven net income a year earlier. Wall Street analysts expect, on average, a loss of $0.09 per share. Sullivan characterized the company’s guidance as “cautious” in a statement.

Before the opening, Talbots reported third-quarter net sales of $556 million, above analyst estimates of $547.2 million and down 2% from $568.6 million a year earlier. The retailer’s quarterly net loss totaled $9.4 million, or $0.18 per share, which is better than Wall Street projections of a $0.23 loss per share. During last year’s third quarter, Talbots earned $8 million, or $0.15 per share.