Tag - AHC

Small cap stocks pushed higher in Tuesday afternoon, erasing some of Monday’s sizable drop as crude oil prices fell and investors digested a rise in consumer confidence. At 2:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 15.61, or 2.24%, at 711.72 while the Dow was up 176.60, or 1.59%, to 11,307.68.

The consumer confidence report clocked in at 51.9, which was above the forecast of 50 and which sparked a quick jump in the U.S. dollar while extending the morning rally in equities. Consumer spending makes up more than two-thirds of U.S. economic activity. Earlier this morning, investors reacted tepidly to the Case-Shiller Home Price Index, which slipped at a record pace to minus 15.8% in May.

Crude oil futures were pushing lower this afternoon, which provided some support to the stock market. In recent trading, crude oil fell $2.84 to $121.89 a barrel. OPEC president Chakib Khelil said that current prices for crude were “abnormal” and that prices could fall to $70 to $80 dollars in the long-term picture if the U.S. dollar strengthens and political tensions ease. The greenback was up this afternoon against both the euro and the yen.

Traders will keep a close watch on the financial arena again today following news overnight that Merrill Lynch (NYSE:MER) announced plans to write-down $5.7 billion in debt and raise $8.5 billion in capital through new stock sales. In the afternoon session, MER shares were up some 2%. Also within the financial spectrum, Citigroup (NYSE:C) was the target of negative analyst comments overnight, but is still up 2.75% this afternoon.

A.H. Belo Corporation (NYSE:AHC) are off 13% today after Goldman Sachs downgraded the publisher to “sell,” the Associated Press reported. The Dallas-based company posted a second-quarter loss after Monday’s close and said it was planning to cut as many as 500 jobs. The company said it had been hit with low ad sales, which dragged down its quarterly earnings.

Shares are at $5.18 at 1:30 p.m. ET, down $0.80 from Monday’s close. Trading volume is below average. The stock has ranged from $4.58 to $16.35 during the past year.

Pricesmart Inc (Nasdaq:PSMT), BancTrust Financial Group Inc (Nasdaq:BTFG) and AH Belo Corp (Nasdaq:AHC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Nanosphere Inc (Nasdaq:NSPH), Hovnanian Inc(Nasdaq:HOV), Ames National Corp (Nasdaq:ATLO), Severn Bancorp Inc (Nasdaq:SVBI), Stage Stores Inc (Nasdaq:SSI) and VeriFone Holdings Inc (Nasdaq:PAY).

Here are the biggest percentage gainers among small caps:

US Airways Group Inc (Nasdaq:LCC), Guaranty Financial Group Inc (Nasdaq:GFG) and Asta Funding Inc (Nasdaq:ASFI) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $750 million.

AH Belo Corp (Nasdaq:AHC), Heritage Oaks Bancorp (Nasdaq:HEOP) and Great Southern Bancorp Inc (Nasdaq:GSBC) are also among the new 52-week lows.

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