Tag -  FINL 

ATA Inc. (Nasdaq:ATAI), Finish Line Inc. (Nasdaq:FINL) and Retalix Ltd (Nasdaq:RTLX) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Computer Task Group Inc. (Nasdaq:CTGX), W Holding Co Inc. (Nasdaq:WHI), Elbit Imaging Ltd. (Nasdaq:EMITF), Starlims Technologies Ltd. (Nasdaq:LIMS), Student Loan Corp. (Nasdaq:STU) and Books-A-Million Inc. (Nasdaq:BAMM).

Small-cap stocks remained sharply lower into mid-session, but were up from the extreme morning lows. Losses were stirred by worries over the economy, a revenue warning from key tech player Intel Corp and news of a big fraud from a major Indian outsourcing firm.  Some of today’s small-cap gainers are InterOil (NYSE:IOC), ICT Group (Nasdaq:ICTG) and AK Steel (NYSE:AKS).

Other Market Watch highlights today included:

• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.  
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.  
•The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.  
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.

Small Cap Gainers:

• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)  
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)  
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)  
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)  

Small Cap Losers:

• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)  
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)  
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)

Small-cap stocks went into a tailspin in early trading, pulled down by a gloomy report on the jobs front ahead of Friday’s key employment release. In addition, some big companies announced plans to slash workers or cautioned on the outlook, which sent a chill into a market that started out the year on a decent roll.  Some of today’s small-cap gainers are NetScout Systems, Inc. (Nasdaq:NTCT), Polycom Inc. (Nasdaq:PLCM) and AK Steel (NYSE:AKS).

Other Market Watch highlights today included:

• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.  
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.  
• The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.  
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.

Small Cap Gainers:

• NetScout Systems, Inc. is up 30% to $13.33 after announcing preliminary Q3 results and raising FY2009 guidance Tuesday. (See Nasdaq:NTCT)  
• Video-conferencing products maker Polycom Inc. is up 11% in pre-market trading to $15.40 after issuing upward guidance and announcing job cuts late Tuesday. (See Nasdaq:PLCM)
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)  
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)  

Small Cap Losers:

• Hill-Rom Holdings, Inc. and Texas Capital BancShares Inc. established new 52-week lows in early trading. (See NYSE:HRC, Nasdaq:TCBI)  
• Blyth Inc., which makes home-fragrance products and other household items, is down 11% to $6.19 after a downgrade by Jefferies & Co. (See NYSE:BTH)  
• Polymer products maker Landec Corporation is down 23% to $5.65 after news this morning of a downgrade from Northland Securities. (See Nasdaq:LNDC)

Delta Petroleum Corp. (Nasdaq:DPTR), DryShips Inc. (Nasdaq:DRYS) and United Natural Foods Inc. (Nasdaq:UNFI) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Finish Line Inc. (Nasdaq:FINL), True Religion Apparel Inc. (Nasdaq:TRLG), Iconix Brand Group Inc. (Nasdaq:ICON), Green Mountain Coffee Roasters Inc. (Nasdaq:GMCR), Hibbett Sports Inc. (Nasdaq:HIBB) and i2 Technologies Inc. (Nasdaq:ITWO).

DryShips Inc. (Nasdaq:DRYS), CV Therapeutics Inc. (Nasdaq:CVTX) and Internet Gold-Golden Lines Ltd. (Nasdaq:IGLD) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Finish Line Inc. (Nasdaq:FINL), Canadian Solar Inc. (Nasdaq:CSIQ), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF), Sun Healthcare Group Inc. (Nasdaq:SUNH), Iconix Brand Group Inc. (Nasdaq:ICON) and Atlas America Inc. (Nasdaq:ATLS).

Here are the most actively traded companies among small caps:

Helping consumers run faster and jump higher always will be top priority in the athletic footwear industry. The Finish Line Inc. (Nasdaq:FINL), however, hopes a slight variation on that approach will help it clear the hurdle of what promises to be a rough holiday run in retail.

Finish Line will never stray far from money-making brands such as Nike (NYSE:NKE), adidas and New Balance. The Indianapolis small cap, which owns about 800 mall-based stores nationwide, was built on top-of-the-line athletic shoes and apparel aimed at the young male demographic. And providing more choices for those consumers has kept the chain competitive.

“Finish Line's primary point of difference is selection,” Kevin Wampler, the company’s chief financial officer, said in an email to SmallCapInvestor.com. “On average, our stores carry 600 to 800 unique styles of footwear, while the competition (Foot Locker Inc., DSW Inc.) might carry 200 to 300.”

That selection is set to widen still, as Finish Line ventures into other fashion areas, including casual men’s lines such as Greedy Genius and Yums, as well as women’s brands such as Pink Dice and Bebe Sport.

“The company is endeavoring to bring in more lifestyle footwear and apparel, including brands not offered by Foot Locker,” John Shanley, an analyst for Susquehanna Financial Group, said in an email. But it’s too early to determine if this strategy will succeed.”

Scaling back is one tactic that seems to have worked. Finish Line . . .

Dendreon Corp. (Nasdaq:DNDN), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) and Finish Line Inc. (Nasdaq:FINL) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Investors Real Estate Trust Units (Nasdaq:IRET), Clean Energy Fuels Corp. (Nasdaq:CLNE), China Sunergy Co Ltd. (Nasdaq:CSUN), A Power Energy Generation Systems Ltd. (Nasdaq:APWR), Arena Pharmaceuticals Inc. (Nasdaq:ARNA) and Canadian Solar Inc. (Nasdaq:CSIQ).

Here are the most actively traded companies among small caps:

Chase Corp. (Nasdaq:CCF), Entergy Mississippi 6% Series First Mortgage Bonds Exp 01 No. (Nasdaq:EMQ) and Finish Line Inc. (Nasdaq:FINL) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Finish Line Inc. (Nasdaq:FINL), Consolidated Water Co Ltd. (Nasdaq:CWCO), Provident Bankshares Corp. (Nasdaq:PBKS), Molecular Insight Pharmaceuticals Inc. (Nasdaq:MIPI), Naugatuck Valley Financial Corp. (Nasdaq:NVSL) and TransMontaigne Partners L.P (Nasdaq:TLP).

Here are the biggest percentage losers among small caps:

IKON Office Solutions Inc. (Nasdaq:IKN), Starrett LS Co. (Nasdaq:SCX) and Thermadyne Holdings Corp. (Nasdaq:THMD) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NPS Pharmaceuticals Inc. (Nasdaq:NPSP), Arden Group Inc. (Nasdaq:ARDNA), Carbo Ceramics Inc. (Nasdaq:CRR), Finish Line Inc. (Nasdaq:FINL), Zep Inc. (Nasdaq:ZEP) and Sapient Corp. (Nasdaq:SAPE).

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

PetMed Express Inc (Nasdaq:PETS), Ness Technologies Inc (Nasdaq:NSTC) and American Commercial Lines Inc (Nasdaq:ACLI) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Innophos Holdings Inc (Nasdaq:IPHS), Pharmasset Inc (Nasdaq:VRUS), Eresearchtechnology Inc (Nasdaq:ERES), Hansen Medical Inc (Nasdaq:HNSN), Finish Line Inc (Nasdaq:FINL) and STEC Inc (Nasdaq:STEC).

Here are the most actively traded companies among small caps:

Argan Inc (Nasdaq:AGX), Allos Therapeutics Inc (Nasdaq:ALTH) and American Ecology Corp (Nasdaq:ECOL) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Augusta Resource Corp (Nasdaq:AZC), Finish Line Inc (Nasdaq:FINL), Idenix Pharmaceuticals Inc (Nasdaq:IDIX), Badger Meter Inc (Nasdaq:BMI), BSD Medical Corp (Nasdaq:BSDM) and Parlux Fragrances Inc (Nasdaq:PARL).

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

Arris Group Inc (Nasdaq:ARRS), Crocs Inc (Nasdaq:CROX) and A Power Energy Generation Systems Ltd (Nasdaq:APWR) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Evergreen Solar Inc (Nasdaq:ESLR), Finish Line Inc (Nasdaq:FINL), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF), EMCORE Corp (Nasdaq:EMKR), Quest Energy Partners L P (Nasdaq:QELP) and James River Coal Co (Nasdaq:JRCC).

Here are the most actively traded companies among small caps:

Exactech Inc (Nasdaq:EXAC), Vivus Inc (Nasdaq:VVUS) and Finish Line Inc (Nasdaq:FINL) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ezcorp Inc (Nasdaq:EZPW), Diamond Foods Inc (Nasdaq:DMND), Eresearchtechnology Inc (Nasdaq:ERES), Cyberonics Inc (Nasdaq:CYBX), Allos Therapeutics Inc (Nasdaq:ALTH) and Pegasystems Inc (Nasdaq:PEGA).

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

AZZ inc (Nasdaq:AZZ), T-3 Energy Services Inc (Nasdaq:TTES) and Finish Line Inc (Nasdaq:FINL) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

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

The Finish Line Inc. (Nasdaq:FINL) hit a 52-week high on Tuesday after analysts raised the Indianapolis-based athletic retailer’s target price on Monday. An analyst at Sterne Agee kept The Finish Line’s “buy” rating but on Monday changed the target price from $8 to $10.50. At research firm Citi, Finish Line remains with a “hold” rating, but the price target was increased from $7 to $10 on Monday. The ratings come on the heels of the mall-based retailer’s announcement of profitable first-quarter earnings. Net income increased to a profit of $0.02 per share from a loss of $0.05 per share, the company said Thursday.

On Tuesday, reached $9.27, more than a 6% increase from Monday’s close.

RAM Energy Resources Inc (Nasdaq:RAME), Iconix Brand Group Inc (Nasdaq:ICON) and Jos A Bank Clothiers Inc (Nasdaq:JOSB) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American Commercial Lines Inc (Nasdaq:ACLI), Interwoven Inc (Nasdaq:IWOV), Salix Pharmaceuticals Ltd (Nasdaq:SLXP), Arthrocare Corp (Nasdaq:ARTC), RealNetworks Inc (Nasdaq:RNWK) and Finish Line Inc (Nasdaq:FINL).

Here are the most actively traded companies among small caps:

It’s been a volatile morning for small caps and the roller coaster ride continues mid-session, as crude surges and investors grapple with conflicting economic reports and question consumer resilience.

On the heels of Thursday’s violent sell off, at 12:46 p.m. ET, the Russell 2000 (NYSE:IWM) has slipped 2.98, or 0.43%, at 695.44., while the Dow is off 77.19, 0.67%, to 11,376.23.

After gushing to a new record high of more than $142 a barrel in pre-market trading, crude oil has deflated somewhat, but still remains in the green mid-session. Today’s assent comes after crude surged nearly 4% on Thursday, as investors found comfort in commodities and away from free-falling equities. The dollar is mixed against the yen and the euro, while gold has climbed $13 midday.

In economic news, consumer confidence fell to a 28-year low, adding to the bleak sentiment on Wall Street. The Michigan sentiment survey slipped to 56.4, slightly below the forecast of 57, as consumers continue to feel discouraged by rising oil and food prices and job losses. The report also said that the velocity of consumer spending is expected to decline through the beginning of 2009.

On a brighter note, the Commerce Department reported this morning that personal income jumped 1.9%, substantially above the projected rise of 0.4%; while spending rose 0.8% in May, also above the forecasted increase of 0.7%. However, when discounting the impact of government issued tax stimulus checks; real income was up only 0.4%.

“Real consumer spending jumped in May, boosted by the tax stimulus checks,” Steven Wood, chief economist with Insight Economics, said in an email. “This will allow consumer spending to rebound and keep Q2 growth positive (albeit weak). After the rebate checks are spent, ongoing job losses will weaken income growth, slow consumer spending and dampen economic growth during the second half of the year. Eventually, weak economic growth will dampen inflation — at least that’s . . .

AZZ Inc. (NYSE:AZZ), The Andersons, Inc. (Nasdaq:ANDE) and The Finish Line, Inc. (Nasdaq:FINL) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Carmike Cinemas, Inc. (Nasdaq:CKEC), QC Holdings, Inc. (Nasdaq:QCCO), Lifetime Brands, Inc. (Nasdaq:LCUT), Tri-Valley Corp. (AMEX:TIV), Royal Bancshares of Pennsylvania, Inc. (Nasdaq:RBPAA) and Benihana, Inc. (Nasdaq:BNHNA).

Here are the biggest percentage gainers among small caps:

Small-cap stocks gyrated between positive and negative territory in the first half hour of trading as record-high crude oil prices, safe-haven flow away from stocks and steep declines in global markets overnight countered a decent personal income report. The market was oversold after Thursday’s collapse, and price action could be choppy ahead of the end of the quarter. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1.62, or 0.23%, at 700.04.

The Michigan sentiment survey slipped to 56.4, which was slightly below the forecast of 57, but the number was not enough of a surprise to spark a big move in stocks.

The personal income report headline figure jumped 1.9%, which was well beyond the median forecast for a rise of 0.7%. However, when discounting the impact of the tax stimulus checks, real income was only up 0.4%. The May PCE deflator was up 0.1%, which was better than the forecast for a rise of 0.2%, which sparked a pre-opening bounce off overnight lows in stock index futures.

“Real consumer spending jumped in May, boosted by the tax stimulus checks,” Steven Wood, chief economist with Insight Economics, said in an email. “This will allow consumer spending to rebound and keep Q2 growth positive (albeit weak). After the rebate checks are spent, ongoing job losses will weaken income growth, slow consumer spending and dampen economic growth during the second half of the year. Eventually, weak economic growth will dampen inflation — at least that’s the FOMC’s hope,” Wood said.

Despite the mild upbeat news from personal income data, the market still was on edge about crude oil prices, which climbed to a fresh record high overnight above $142 dollars a barrel. Crude prices backed off toward $140 into the stock market . . .

The Finish Line, Inc. (Nasdaq:FINL) was up 10.8% in pre-market trading Friday after the company’s late Thursday report of profitable first-quarter earnings. The athletic apparel retailer reported a profit of $0.02 per share for the quarter ended in May versus a loss of $0.08 per share for the same quarter a year ago. The company said sales improved late in the quarter while inventory fell 8% compared with the same period in the prior year. Shares of Finish Line were at $7.75 before the bell Friday, up about $0.76 from Thursday’s close.

Home Inns & Hotel Management Inc. (Nasdaq:HMIN), (Royale Energy Inc (Nasdaq:ROYL) and DRDGold, Ltd. (Nasdaq:DROOY) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Advanced Battery Technologies, Inc. (Nasdaq:ABAT), The Andersons, Inc. (Nasdaq:ANDE), Rex Energy Corp. (Nasdaq:REXX), The Finish Line, Inc. (Nasdaq:FINL) and Altra Holdings, Inc. (Nasdaq:AIMC).

Here are the most actively traded companies among small caps:

The Russell 2000 (NYSE:IWM) jumped today on news of better-than-expected economic data and hopes that the credit crunch is ending. The small-cap index rose 22.67 points, or 3.30%, to 710.64. The Dow Jones Industrial Average climbed 391.47 points, or 3.19%, to 12,654.36.

On a year-to-date basis, the Russell 2000 is down 7.23%, while the Dow has shed 4.61% and the S&P 500 is off 6.69%.

Stocks opened in the green and the bulls completely dominated the session on news before the opening that UBS AG (NYSE:UBS) will issue up to $15 billion in new stock and receive help from other banks in order to deal with $19 billion in writedowns stemming from the subprime mortgage mess.

Separately, Lehman Brothers Holdings Inc. (NYSE:LEH) announced before the opening that it will raise a higher-than-expected $4 billion in preferred stock.

Investors took the actions as a sign that the credit crunch is easing.

Among the winners today was small-cap Team Inc. (Nasdaq:TISI), which provides maintenance and construction services for high-temperature piping systems. The Alvin, Texas-based company reported . . .

The Russell 2000 (NYSE:IWM) and the Dow added to their earlier gains on news that existing U.S. home sales rose more than expected in February.

At 11:33 a.m. ET, the small-cap index was up 19.71 points, or 2.89%, to 701.13. The Dow Jones Industrial Average (INDU) had climbed 218.83 points, or 1.77%, to 12,580.15.

Sales of existing homes rose 2.9% to a seasonally adjusted annual rate of 5.03 million units in February from a pace of 4.89 million in January, the National Association of Realtors reported after the start of trading. Economists were expecting to see a fall.

“We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” said NAR chief economist Lawrence Yun in a statement.

However, the median home price declined 8.2%.

Genesco Inc. (NYSE: GCO) shares are plunging on substantially higher-than-average volume after the shoe retailer announced that it terminated its merger plan with The Finish Line Inc. (Nasdaq: FINL). The $1.5 billion merger was going to be financed by investment bank UBS AG (NYSE: UBS).

The proposed deal, which is pending approval by the companies' boards, would require UBS and Finish Line to pay Genesco $175 million in cash and 12% of Finish Line's outstanding common stock. Both firms’ boards plan to meet on Monday to discuss the settlement.

UBS sued Finish Line and Genesco and sought permission from a Tennessee court to be freed of its responsibility to fund the merger.

Genesco’s largest shareholder, QVT Financial LP, said in a statement that it “strenuously opposes the proposed settlement.” The hedge fund said in a statement that it does not believe the settlement is in the best interests of Genesco’s shareholders. QVT said it wants to meet with the board and management to explain its opinion of the deal, which it views as “a breach of the directors' fiduciary duties to shareholders.”

Finish Line competed with Foot Locker (NYSE: FL) in bidding for Genesco, eventually offering $54.50 a share, or $1.5 billion. The deal experienced trouble after Genesco announced dismal second-quarter results by swinging to a steep loss. Since Genesco reported its second-quarter numbers, the deal has been in litigation.

In afternoon trading, GCO shares are down 18.86%, or $5.65, at $24.30. Over the last 52 weeks, shares have ranged from $21.71 to $54.15.

The Russell 2000 (NYSE: IWM) is unsteady following mixed economic news.

At 10:54 a.m. ET, the small-cap index was down 1.07 points, or 0.16%, to 685.11. The Dow Jones Industrial Average (INDU) had shed 44.45 points, or 0.36%, to 12,221.94.

Factory activity fell to 48.3 in February from 50.7 in January, the Institute for Supply Management reported after the start of trading. Economists were expecting to see a slightly steeper decline. Readings below 50 indicate a contraction.

“The manufacturing sector failed to grow during the month as the PMI fell below 50 percent, which indicates weaker performance in February when compared to January,” said Norman Ore, chair of the ISM’s Business Survey Committee, in a statement. “Manufacturers’ order backlogs continue to erode as the New Orders Index remained below 50 percent for the third consecutive month.”

Meanwhile, the U.S. Census Bureau reported after the opening that construction spending fell more than expected in January. The numbers show a 1.7% decline to a seasonally adjusted annual rate of $1.121 trillion. Private home construction led the way down, falling 3%.

The Finish Line, Inc. (Nasdaq: FINL) shares are plummeting after the operator of mall-based shoe stores posted a third-quarter loss of $15.9 million, or $0.34 per share, worse than analyst estimates of losing $0.15 per share. A year earlier, the Indianapolis, Ind.-based firm posted a loss of $3 million, or $0.06 per share.

Quarterly revenue declined 4% to $268.7 million, lower than the consensus estimate of $271.09 million and from $280 million in the year-ago period.

Finish Line credited the results to lower sales and higher costs related to its ongoing $1.5 billion acquisition of smaller rival Genesco Inc., which has been plagued with legal entanglements.

In further negative news, Finish Line’s CEO Alan Cohen said in a morning conference call that comparable store sales are down in the mid-single digits so far during the fourth quarter.

In effort to turn things around, Finish Line said it’s implementing product and operating plans to improve results.

In morning trading, FINL shares are down 19.68%, or $0.44, at $1.77. Over the last 52 weeks, shares have ranged from $1.61 to $14.60.

The Russell 2000 (NYSE: IWM) is gaining ground on the second-to-last trading day of the year amid news of possible asset sales by big banks. However, gains are being tempered by news of new home sales in the U.S., which fell more than expected during November. After trading above 782, the Russell dipped to 776 almost immediately after the housing data was released.

The Commerce Department reported that sales of new U.S. homes fell by 9% in November to a seasonally adjusted annual rate of 647,000. Economists were expecting that new home sales would fall to 715,000 from 728,000 in October.

At 11:27 a.m. ET, the small-cap index was up 4.92 points, or 0.64%, to 778.43. The Dow Jones Industrial Average (INDU) was up 26.98 points, or 0.2%, to 13,386.59.

Citigroup Inc. (NYSE: C) and HSBC Holdings are among U.S. and European banks that are considering major asset sales, The Wall Street Journal is reporting this morning. Citigroup could sell an 80%-held student loan, its North American auto-lending unit, its 24% stake in Brazil credit-card operation Redecard and the bank's Japanese consumer finance business. HSBC might liquidate its auto-finance business.

In other economic news, the Chicago arm of the National Association of Purchasing Managers reported that business activity in the Chicago area expanded in December, which topped expectations

The Russell 2000 (NYSE: IWM) futures are gaining ground on the second to last trading day of the year amid news of possible asset sales by big banks.

Citigroup Inc. (NYSE: C) and HSBC Holdings, are among U.S. and European banks that are considering major asset sales, The Wall Street Journal is reporting this morning. Citigroup could sell an 80%-held student loan, its North American auto-lending unit, its 24% stake in Brazil credit-card operation Redecard and the bank's Japanese consumer finance business. HSBC might liquidate its auto-finance business.

The Census Bureau is expected to report new home sales for the month of November at 10 a.m. ET. Economists are that forecasting new home sales slid to 715,000 from 728,000 in October.

Also due out at 10 a.m. ET, the Chicago arm of the National Association of Purchasing Managers will report Chicago-area manufacturing index. The index is forecasted to edge down to 52 from 52.9 the previous month. A reading above 50 signals factory-sector expansion, while a reading below 50 signals contraction.

In small-cap news, a judge ruled Thursday that The Finish Line, Inc. (Nasdaq: FINL) must complete its $1.5 billion acquisition of mall retailer Genesco Inc. (NYSE: GCO) because it and advisor UBS reportedly knew about risks to Genesco's earnings. Finish Line said it may appeal.

Stocks also advanced as investors increased odds that the Federal Reserve will cut interest rates, quelling concerns of a recession.

Biggest percentage gainers:

• Chordiant Software Inc. (CHRD), up 15.8% to $9.40 on news that it that it has entered into a Global Framework Agreement with a leading telecommunications company for $26.1 million.
• Telestone Technologies Corp. (TSTC), up 5.3% to $6.86.
• Allos Therapeutics, Inc. (ALTH), up 5.3% to $7.

Biggest percentage losers:

• Cirrus Logic Inc. (CRUS), down 4.9% to $5.
• American Dental Partners, Inc. (ADPI), down 2% to $10.
• China Technology Development Group Corporation (CTDC), down 1.7% to $9.76.

The Russell 2000 (NYSE: IWM) and the other major indices posted solid gains today on news that Citigroup Inc. (NYSE: C) received a cash injection of $7.5 billion. The small-cap index added 8.20 points, or 1.12%, to 743.27. The Dow Jones Industrial Average (INDU) rose 215 points, or 1.69%, to 12,958.44.

On a year-to-date basis, the Russell 2000 has shed 5.61%, while the Dow has added 3.88% and the S&P 500 has advanced 0.82%.

The futures were pointing up and stocks climbed out of the gate on news after the close on Monday that the Abu Dhabi Investment Authority has purchased a 4.9% stake in the largest U.S. bank for $7.5 billion.

The cash will help New York-based Citigroup better deal with billions of dollars in losses due to the purchase of securities backed by subprime mortgages. News came out on Monday that Citi, which suffered a loss in the third quarter, may have to slash as many as 45,000 workers from its payroll in an effort to return to profitability.

Today the bank was a bullish force on Wall Street, even though some analysts suggested that Citi may still need to raise more capital.

Stocks were rising steadily until 10 a.m. ET, when the Conference Board reported a larger-than-expected drop in consumer confidence for November.

The business organization said that its index of consumer confidence fell to 87.3 from a downwardly revised level of 95.2 in October. That’s the lowest reading since the aftermath of Hurricane Katrina in October 2005 and a sign that Americans are getting more tightfisted in the face of higher energy costs and declining home prices.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are posting solid gains despite news of worse-than-expected declines in consumer confidence and home prices. At 2:27 p.m. ET, the small-cap index was up 5.84 points, or 0.79%, to 740.91. The Dow had added 184.12 points, or 1.44%, to 12,927.56.

Stocks are bullish this afternoon as investors react to news after Monday’s close that Citigroup Inc. (NYSE: C) has sold 4.9% of itself to the Abu Dhabi Investment Authority for $7.5 billion. That’s the investment arm of the emirate of Abu Dhabi, one of the seven emirates in the United Arab Emirates.

News that the largest U.S. bank appears to be returning to solid ground after posting a loss in the third quarter unleashed the bulls. The cash infusion will help the bank get a better handle on billions of dollars on losses from subprime mortgages, which resulted in the recent departure of the CEO.

The bulls briefly slowed down and the Russell 2000 dipped into negative territory after 10 a.m. ET, when the Conference Board announced that its index of consumer confidence for November fell to a two-year low of 87.3 from a downwardly revised level of 95.2 in October. That’s the fourth consecutive drop and a sign that Americans are less willing to spend money.

That’s a problem for the economy because consumption comprises about 70% of gross domestic product. Most economists expect a slowdown in growth in the fourth quarter of 2007 and the first half of 2008, with some even forecasting a recession.

Investors looked saddened for a moment, but the mood didn’t last. The bears also failed to gain traction following a report that U.S. home prices fell 4.5% in the third quarter from a year earlier. That’s the steepest decline since the Standard & Poor’s Case-Shiller housing index was introduced in 1987.

The Russell 2000 (NYSE: IWM) and the other major American indices fell hard today on news of more losses stemming from the subprime mortgage meltdown. The small-cap index lost 19.17 points, or 2.49%, to 750.33, its fourth consecutive decline. The Dow Jones Industrial Average (INDU) added 218.35 points, or 1.66%, to 12,958.44.

On a year-to-date basis, the Russell 2000 has retreated 4.71%, while the Dow has advanced 3.88% and the S&P 500 has gained 1.18%.

Futures were pointing down and trading began in the red following news that investment bank Goldman Sachs Group, Inc. (NYSE: GS) downgraded Citigroup Inc. (NYSE: C), the largest U.S. bank, to “sell” from “neutral” on fears that it could suffer up to $15 billion in write-downs on collateralized debt obligations over the next two quarters.

Many loans made to borrowers with poor credit histories were repackaged as securities and sold to financial companies, which is why the industry took a hit when U.S. housing prices started to stagnate in the second quarter of 2006 and delinquencies and foreclosures rose.

Today’s news scared investors and served as a reminder that the subprime mess is still working its way through the system and has the potential to inflict more pain. Adding to the uncertainty is the fact that no one knows how many more shoes are going to fall and what the size of the damage will be.

That news alone was enough to ensure that the bears would dominate trading, but there was more to come.

Mooresville, N.C.-based Lowe’s Companies, Inc. (NYSE: LOW), the nation’s second largest home improvement retailer, announced its third-quarter profit fell 10.2% and total sales increased a less-than-expected 3.2%.

Genesco Inc. (NYSE: GCO) shares are plunging to new year-lows after shoe retailer Finish Line, Inc. (Nasdaq: FINL) reported in a regulatory filing that Genesco and itself are defendants in a lawsuit for declaratory relief filed by investment bank UBS (NYSE: UBS).

“For 46 years, I have been privileged to work with a wonderful group of people, in a business that I love, for the benefit of our shareholders,” CEO Hal Pennington said in a statement. “Today, my management team and I have been accused of defrauding UBS. On behalf of our company, our management team and our employees, I categorically deny those claims.”

Finish Line had previously offered to acquire Nashville-based Genesco in June for $54.50 per share, or $1.5 billion. UBS was financing the purchase, but Finish Line halted the deal because it said Genesco’s earnings decline jeopardized Finish Line’s ability to pay its debt back.

In a lawsuit filed in New York federal court, UBS said a merger that combined Finish Line’s “earnings difficulties and Genesco’s “disastrous financial condition” would be insolvent.

“It is sad when a major international financial institution resorts to this sort of mudslinging in an attempt to get out of its contractual obligations and survive the meltdown in the credit markets,” Pennington said. “To our customers, our suppliers, our shareholders and, most importantly, our employees, I assure you of my commitment to continue to operate Genesco with the same high standards of integrity that have made me proud to be a part of this company throughout my career. We will also continue to act in the best interest of our shareholders, including enforcing our rights under our Merger Agreement with The Finish Line.”

In a separate lawsuit, Genesco has sued UBS and Finish Line, attempting to force Finish Line to complete the acquisition. UBS said in a statement on Friday that Genesco had “intentionally misrepresented” its financial condition to Finish Line.

In today’s trading, GCO shares were down 23.09%, or $9.06, at $30.17. Over the last 52 weeks, shares have ranged from $29.04 to $54.15.

The Russell 2000 (NYSE: IWM) has sunk even deeper into negative territory following news of record low U.S. homebuilder confidence. At 2:26 p.m. ET, the small-cap index had retreated 16.86 points, or 2.19%, to 752.64. The Dow Jones Industrial Average (INDU) had fallen 154.70 points, or 1.17%, to 13,022.09.

Trading began on a bearish note following news that investment bank Goldman Sachs Group, Inc. (NYSE: GS) downgraded financial services giant Citigroup Inc. (NYSE: C) to “sell” from “neutral” on fears that it could suffer up to $15 billion in write-downs on collateralized debt obligations over the next two quarters.

The fact that the largest U.S. bank has been dealt a blow and added to the list of casualties scared investors and served as a reminder that the subprime mess is still working its way through the system and has the potential to inflict more pain.

The financial sector has been feeling the sting of the meltdown in the subprime mortgage sector, which began after the U.S. housing prices started to stagnate in the second quarter of 2006.

Speaking of housing, the National Association of Home Builders reported after the start of trading that its index of builder confidence stayed at a record low level for the second month in row in November.

Builder confidence in the market for new single-family homes held at October’s upwardly revised level of 19, the trade association announced. That’s the lowest reading since tracking started in January 1985.

“The message from today’s report is that builders do not see any significant change in housing market conditions as compared to last month,” said NAHB chief economist David Seiders in a statement. “While they continue to work down inventories of unsold homes and reposition themselves for the market’s eventual recovery, they realize it will be some time before market conditions support an upswing in building activity.”

The Russell 2000 (NYSE: IWM) has declined steeply on news of poor corporate earnings and credit fears stemming from troubled U.S. housing sector.

At 11:04 a.m. ET, the small-cap index was down 18.05 points, or 2.35%, to 751.45. The Dow Jones Industrial Average (INDU) had lost 158.19 points, or 1.20%, to 13,018.60.

The bears came out in full force this morning following news before the start of trading that investment bank Goldman Sachs Group, Inc. (NYSE: GS) downgraded financial services giant Citigroup Inc. (NYSE: C) to “sell” from “neutral” on fears that it could suffer up to $15 billion in write-downs on collateralized debt obligations over the next two quarters.

The financial sector has been aching in the wake of the meltdown in the subprime mortgage sector, which began after the U.S. housing prices started to stagnate in the second quarter of 2006.

News of the expected write-downs came as an unpleasant reminder that so far no one has been able to quantify the extent of the damage to the financial sector, but various estimates are calling for total losses of hundreds of billions of dollars.

The fact that the largest U.S. bank has been dealt a blow and added to the list of casualties tells us that the subprime mess is still working its way through the system and has the potential to inflict more pain.

A number of mortgage lenders have already declared bankruptcy and many financial institutions have tightened credit.

The Finish Line, Inc. (Nasdaq: FINL) CEO Alan Cohen said nothing has changed regarding the athletic footwear retailer’s troubled acquisition of rival Genesco (NYSE: GSO) other than what has been publicly stated.

“Nothing’s changed beyond what we’ve said publicly in the press releases,” Cohen said in a morning conference call. “We are in litigation. That’s not by our choice.”

In June, Finish Line announced it was buying rival Genesco, a shoe and apparel chain operator, for $1.5 billion. Since then, Finish Line said on Monday that the deal has stalled because of Genesco's failure to provide financial details or access to the company’s financial officers. Last week, Genesco accused Finish Line of “buyer’s remorse” and filed a lawsuit to close the acquisition.

Since Genesco reported a $4.2 million second-quarter loss on Aug. 30, Wall Street analysts have criticized Finish Line’s $1.5 billion offer as overpriced. Investment bank UBS (NYSE: UBS), Finish Line’s financier, has delayed closing the deal by requesting additional information on Genesco’s financial condition.

An analyst on the call repeatedly pressed Cohen for answers regarding UBS’ financing of the Genesco acquisition, but the CEO only said that he had no comment on the matter and that litigation was in progress.

After Thursday’s closing, the shoe and apparel retailer reported a second-quarter net loss of $1.8 million, or $0.04 a share, above analyst expectations of a loss of $0.10 per share, but down 118% from net income of $9.9 million, or $0.21 per share, a year earlier. The Indianapolis-based firm reported net sales of $343 million for the 13 weeks ended Sept. 1, above views of $282.8 million and 1.3% above the $338.6 million recorded during the same period of 2006.

Mall-based specialty retailer The Finish Line, Inc. (Nasdaq: FINL) said this morning that Genesco Inc. (NYSE: GCO), the branded footwear retailer Finish Line is attempting to acquire and with whom it is currently locked in litigation with, breached the merger agreement between the two parties.

The Finish Line said it asked Genesco for certain financial and other information as well as access to Genesco's chief financial officer and financial staff, but that Genesco has not responded and has refused to comply with its requests.

Shares of the Finish Line (FINL) were halted in pre-market trading.

Genesco Inc. announced after the opening that it is suing The Finish Line, Inc. (Nasdaq: FINL) to complete its $1.5 billion buyout of the shoe and accessory retailer.

The lawsuit seeks an order to enforce Finish Line's agreement with investment bank UBS AG to finance most of the deal. UBS Loan Finance and UBS Securities said earlier this week that it was temporarily halting its processing of the takeover as it sought more information on the financial health of Genesco.

“No more delays by The Finish Line and UBS; no more reservation of rights; no more bankers putting their pencils down,” Genesco CEO Hal Pennington said in a statement. “We want a court of competent jurisdiction to enforce our rights under the merger agreement and for The Finish Line and UBS to live up to their obligations.”

In afternoon trading, shares of FINL are down 0.76%, or $0.04, at $5.25. Over the last 52 weeks, shares have ranged from $4.90 to $14.97.

Cardica, Inc. (Nasdaq: CRDC) , Hoku Scientific, Inc. (Nasdaq: HOKU) and Accredited Home Lenders Holding Co. (Nasdaq: LEND) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million:

Christopher & Banks Corp. (NYSE: CBK), Servidyne, Inc. (Nasdaq: SERV) and Glen Burnie Bancorp (Nasdaq: GLBZ) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

New Gold Inc. (AMEX: NGD), Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) and Chindex International, Inc. (Nasdaq: CHDX) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Shares of Finish Line Inc. (Nasdaq: FINL) are advancing today after the mall-based specialty retailer said this morning that it is re-evaluating its decision to acquire Genesco Inc. (NYSE: GCO) after it reported that it swung to a fiscal second quarter loss.

In a statement today Finish Line said, “The Company is disappointed with Genesco's second quarter fiscal 2008 financial results. Consistent with its responsibilities to The Finish Line's shareholders, the Company is evaluating its options in accordance with the terms of the merger agreement.”

Apparel, footwear and accessories retailer Genesco recorded a net loss of $4.2 million, or $0.19 per share, compared with net income of $5.9 million, or $0.24 per share in the second quarter last year.

Genesco said it swung to a loss due to later back-to-school starts, later sales tax holidays in Texas and Florida and a challenging retail environment, particularly in footwear.

On a Friday morning conference call, executives of shoe and apparel retailer The Finish Line, Inc. (Nasdaq: FINL) said the company is focusing on popular, high-margin products to get the company back on track. The company’s negative same-store sales trend, however, is continuing into the second quarter, CEO Alan Cohen said on the call. During the first quarter ended June 2, Finish Line’s same-store sales dipped 4% from the first quarter of 2006.

Looking forward, The Finish Line will increase concentration on its high-margin website and catalog business, Cohen said. The company plans to increase marketing, circulation and personnel for website and catalog segments, he said.

“Our plan is to maximize sales in this profitable and growing segment,” he said. “Growth continues to be double-digit on a comparable basis.”

The Finish Line is also looking forward to new shoe releases this summer. Adidas will be releasing a new shoe with its Microbounce technology. Additionally, Puma is launching a performance running shoe priced at $100 in July. In August, New Balance is introducing a shoe with its shock-absorbing Zip technology and will promote the shoe through television advertisements. The company is also increasing the percentage of basketball products that will carry the Michael Jordan brand.

Cohen said the company is dedicating more store floor space to footwear because it hasn’t been finding “tremendous success” in apparel. He said footwear accounts for the majority of the retailer’s sales, while apparel makes up only about 17% of total revenue. During the first quarter, Cohen said the company experienced disappointing headwear and socks sales.

Some clothing brands have been selling well, though. The Finish Line is going to expand its apparel offerings of the Lacoste and Under Armor brands. The Indianapolis, Ind.-based company plans to sell Under Armor products in half of its approximately 700 stores by the holiday shopping season. Unlike other apparel brands that have struggled, Cohen said the company is “excited about the growth opportunity” with Under Armor.

Deutsche Bank downgraded InPhonic Inc. (Nasdaq: INPC) Friday to a “hold” rating from a “buy” rating. The investment house lowered their price target to $6.00 from $16.00.

Mobile surgery centers operater NovaMed Inc.(Nasdaq: NOVA) said it priced a convertible senior subordinated notes offering due 2012. The company also increased the size of the offering to $75 million.

Massachusetts producer of mechanical power transmissions and motion control products Altra Holdings, Inc. (Nasdaq: AIMC) announced the pricing of a public offering of its common stock before the bell Wednesday.  The offerings will be priced at $16.40 per share.

Illinois-based provider of dredging services Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) announced a $100 million secondary offering of shares of its common stock.

B. Riley & Co. downgraded footwear retailer The Finish Line, Inc. (Nasdaq: FINL) to “neutral” from “buy” with a target price of $15, from $13.

Vical Inc. (Nasdaq: VICL) reported that preliminary late-stage trial results showed a drug candidate successfully treated the blood flow disease ischemia by increasing the size of blood vessels.

These are the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $500 million:

The Russell 2000 index and the Dow fell on a day market by news of the latest corporate deal making. The Russell 2000 lost 1.91 points, or 0.23%, to finish at 846.28. The Dow Jones Industrial Average lost 26.50 points, or 0.19%, to 13,612.98.

With little news to occupy investors’ minds, the markets reacted to news that Australia’s BHP Billiton Ltd. (NYSE: BHP), the world’s largest mining company, is renewing its $40 billion bid for Pittsburgh, Pa.-based aluminum producer Alcoa Inc. (NYSE: AA), according to press reports.