Tag - AMWD

Opening volume was higher in this morning's session with all the major indices, except the Dow, trading in the negative. As of press time at 10:40 A.M. Eastern the Dow is trading just positive at 8,768.67 while the Nasdaq and S&P 500 were down 0.10% and 0.04%, respectively.

Leading small cap gainers today was Real Goods Solar (Nasdaq:RSOL) up 42% on news of a $30 million contract to install a solar power program for the Freemont Union School District in California. RSOL is a commercial solar energy integrator in the California and Colorado markets.

Other gainers in this morning's session include Cadiz (Nasdaq:CDZI) up 40%; American Woodmark (Nasdaq:AMWD) up 18.9% on posting a surprise Q4 profit; and Chinese solar firm Renesola (NYSE:SOL) up 16.9%.

Small cap decliners include United PanAm Financial (Nasdaq:UPFC) down $1.02 to $2.96 for a loss of 26.1% after a notice of delisting from the Nasdaq; Hawkins (Nasdaq:HWKN) down 14.1%; Exide Technologies (Nasdaq:XIDE) down 16.2%.

No sooner do I say that the news cycle is turning negative, we get some significant upgrades in the financial sector. Goldman Sachs (NYSE:GS) got an "outperform" rating and rose 5.2%.

RBC Capital Markets called KeyCorp (NYSE:KEY) a "top pick" and the shares ramped 20%. And Fifth Third Bancorp (Nasdaq:FITB) rose 7% after it reported that it has filled the capital shortfall identified during the Treasury's "stress tests."

At least for a day, the financials re-took their leadership for the markets. Though it should be noted that the Financials ETF (AMEX:XLF) has not made a new high, and the financials are sharing the stage with energy stocks.

*****Money managers report that a lot of cash is sitting in the sidelines. Both individual and institutional investors have been slow to get back into the stock market.

Of course, that's exactly the scenario that can keep stocks moving higher. At least, so long as the economic data doesn't take a turn for the worse.

*****Citigroup reported in a research note that put options volume is picking up and so is the Volatility Index, the VIX. Investors buy put options to profit form downside moves for stock prices. Institutional investors protect gains in large portfolios with put options.

The VIX measures the cost of put options. When it rises, it means that investors see increasing risk in the stock market. Citigroup's chief technical analyst, Tom Fitzpatrick, believes the rise in the VIX is showing "strong warning signals" for the rally.

*****Bulls vs. Bears, fear vs. greed - that's what it always comes down to. Will the analysts who see better times ahead for the banks win out? Or will those who see "warning signs" be right? As always, we'll see…

*****The gains just keep coming for SmallCapInvestor PRO stocks. Since March, we've seen a 152% gain from our top oil stock, and we had Genco Shipping (NYSE:GNK) hit triple-digit territory before recent weakness took it below that threshold. 

Now, one of our top China stocks is knocking on the triple-digit door.  The obvious catalyst for this stock will is that it moves off the over-the-counter market and starts trading on the Nasdaq as soon as today. I expect the increased exposure to help drive the share prices higher. 

This stock blew through our conservative $8 price target. The new listing and rising prices for its product will have a positive influence on shares. Our target price is being raised to $14 per share. That's about 40% higher from current prices. 

I am very bullish on Chinese stocks. And SmallCapInvestor PRO now has 3 Chinese stocks in the portfolio. In fact, we just added one on Wednesday. I've put all three stocks in a brand new Special Report called "Going for Growth: 3 Top Chinese Stocks to Buy NOW." Find out how to get your copy HERE.

Cadiz Inc. (Nasdaq:CDZI), Jackson Hewitt Tax Service Inc. (Nasdaq:JTX) and Palomar Medical Technologies Inc. (Nasdaq:PMTI) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American Woodmark Corp. (Nasdaq:AMWD), Greene County Bancorp (Nasdaq:GCBC), Kenexa Corp. (Nasdaq:KNXA), MidWestOne Financial Group Inc. (Nasdaq:MOFG) and Zoltek Companies Inc. (Nasdaq:ZOLT).

Global Crossing Ltd. (Nasdaq:GLBC), Inter Parfums Inc. (Nasdaq:IPAR) and American Woodmark Corp. (Nasdaq:AMWD) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: WNS Holdings Ltd. (Nasdaq:WNS), Barnes Group Inc. (Nasdaq:B), USANA Health Sciences Inc. (Nasdaq:USNA), AnnTaylor Stores Corp. (Nasdaq:ANN), Tollgrade Communications Inc. (Nasdaq:TLGD) and NACCO Industries Inc. (Nasdaq:NC).

Exactech Inc. (Nasdaq:EXAC), RC2 Corp. (Nasdaq:RCRC) and Barnes Group Inc. (Nasdaq:B) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dress Barn Inc. (Nasdaq:DBRN), Ameris Bancorp (Nasdaq:ABCB), TranS1 Inc. (Nasdaq:TSON), eLong Inc. (Nasdaq:LONG), American Woodmark Corp. (Nasdaq:AMWD) and EnerNOC Inc. (Nasdaq:ENOC).

Synchronoss Technologies Inc. (Nasdaq:SNCR), Meadowbrook Insurance Group (Nasdaq:MIG) and Volcano Corp. (Nasdaq:VOLC) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CardioNet Inc. (Nasdaq:BEAT), American Woodmark Corp. (Nasdaq:AMWD), TeleCommunication Systems Inc. (Nasdaq:TSYS), Energy Solutions Inc. (Nasdaq:ES), FreightCar America Inc. (Nasdaq:RAIL) and Universal Electronics Inc. (Nasdaq:UEIC).

Small-cap stocks turned lower at midday as slumping technology shares weighed on investor psychology and offset optimism over yet another new government credit facility aimed to encourage consumer loan activity. In addition, fresh economic data had a predominantly gloomy tone and the market may have been ripe for a breather following two days of dramatic advances. Some of today’s small-cap gainers are Lennar Corp. (NYSE:LEN), DR Horton Inc. (NYSE:DHI) and American Woodmark (Nasdaq:AMWD).

Other Market Watch highlights today included:

• Retailers were in rally mode Monday, but were struggling to stay positive today, just a few days in front of Black Friday  
• The worst performers so far are home: ent. software, specialty stores, asset management firms, distillers and vineyards, and dept. stores.  
• Consumer confidence levels actually improved more than expected, rising to 49.9, up from the forecast of 38.5 (but still low historically).  
• Homebuilders are the best performers, followed by construction materials, managed health care, building products and Internet software.

Small Cap Gainers:

• Lennar Corp. soared some 52% as the second-largest U.S. homebuilder benefited from an analyst upgrade. See (NYSE:LEN).  
• DR Horton Inc. jumped 25%, riding the overall housing updraft today despite reporting larger-than-expected quarterly losses. See (NYSE:DHI).
• American Woodmark up 18% after posting narrower-than-expected Q2 loss. See (Nasdaq:AMWD).
• Media and marketing company Alloy, Inc. up over 15% today on light volume, paring much of the losses it suffered on Monday See (Nasdaq:ALOY).  

Small Cap Losers:

• K-V Pharmaceuticals drops 24% after a bevy of law firms launch investigations into the small cap concerning losses suffered by investors who purchased stock between Feb. 15 and Nov. 12. See (NYSE:KV.A).  
• FirstFed Financial Corp. down 21% today on no fresh news. Over the weekend the savings and loan holding company declared a dividend. See (NYSE:FED).
• BankAtlantic Corp. down another 20% today following news on Friday that the SEC launched a probe into the company's handling of troubled loans and some of its officers' stock transactions. See (NYSE:BBX).  
• Ulta Salon Cosmetics & Fragrance Inc. tumbled 19% as investors backed away from the beauty retailer ahead of an earnings conference call this afternoon. See (Nasdaq:ULTA).  

Lennar Corp. (Nasdaq:LEN), Citi Trends Inc. (Nasdaq:CTRN) and Life Time Fitness Inc. (Nasdaq:LTM) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hadera Paper Ltd. (Nasdaq:AIP), Meritage Homes Corp. (Nasdaq:MTH), United Community Bancorp (Nasdaq:UCBA), American Woodmark Corp. (Nasdaq:AMWD), Student Loan Corp (Nasdaq:STU) and National Research Corp. (Nasdaq:NRCI).

Here are the biggest percentage gainers among small caps:

Novatel Wireless Inc (Nasdaq:NVTL), Accuray Inc (Nasdaq:ARAY) and Hickory Tech Corp (Nasdaq:HTCO) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.     

Also included among the results: Investors Title Co (Nasdaq:ITIC), StellarOne Corp (Nasdaq:STEL), ImmunoGen Inc (Nasdaq:IMGN), Palm Harbor Homes Inc (Nasdaq:PHHM), American Woodmark Corp (Nasdaq:AMWD) and Toreador Resources Corp (Nasdaq:TRGL).    

Here are the biggest percentage losers among small caps:  

Small-cap shares hovered near steady levels, trimming away opening losses tied to ongoing concerns in the financial sector amid reports that banks and brokerages need to raise capital. Another slip in crude oil prices likely muted selling interest in equities. At 10:05 a.m. ET, the Russell 2000 (NYSE:IWM) was off 0.66, or 0.09%, at 738.35.

Lehman Bros. (NYSE:LEH) remains at the eye of the latest financial storm, and was trading down 3.4% shortly after the open after tumbling 9.4% Tuesday on persistent talk that the brokerage firm would need to raise capital to shore up the balance sheet. The banking concerns were fanned overnight when ratings agency Fitch said that a couple of large French banks needed to raise capital. The European stock market took a hit on those concerns, losing about 2% heading toward the U.S. open.

The market navigated through a series of economic data this morning, with the final report from the ISM Non-Manufacturing Survey coming out at 10:00 a.m. ET. The ISM data came in at 51.7%, which was above the 51% forecast. There was a brief upside pop on the ISM release, but it didn’t appear to hold trader attention for long.

Earlier today, the ADP private employment survey showed a surprise rise in new jobs in May, which tugged stocks off overnight lows at the time, but had little staying power into the morning trade. In addition to ADP payrolls, the market saw a productivity report that came in just above the forecast at 2.6%, and an MBA mortgage application index that was at six-year lows. The trading shelf life on all of these data releases was collectively short. Later this afternoon near 2:00 p.m. ET, Federal Reserve Chairman Ben Bernanke will speak at Harvard, but his speech topic is titled “Economic Challenges: 1975 and Now” and he’s not taking questions, so it’s unlikely his appearance will stir the market. That said, foreign exchange markets were still buzzing about his rare direct comments on the dollar from Tuesday, which sparked a rally in the greenback.

The opening slide in stocks took place in the face of soft crude oil prices, which shows that the market does have more on its mind right now than just the energy market. Crude oil prices slipped $124 dollars a barrel overnight, pressured by news that India and Malaysia raised fuel prices, which could crimp demand out of Asia. The weekly oil inventory data should come out around 10:35 a.m. ET, which could spark a . . .

The Russell 2000 (NYSE: IWM) moved down today but the Dow Jones Industrial Average (INDU) posted a modest gain on news of reports showing a coming slowdown in U.S. economic growth. The small-cap index fell 3.98 points, or 0.52%, to 766.06. The Dow added 22.28 points, or 0.17%, to 13,311.73.

On a year-to-date basis, the Russell 2000 has lost 2.71%, while the Dow is up 6.71% and the S&P 500 has advanced 3.75%.

Stocks began the session in the red as investors worried that an economic slowdown is imminent even though gross domestic product grew at an impressive 4.9% annual rate during the third quarter of 2007, according to the Commerce Department. That’s an upward revision from the preliminary figure of 3.9%.

“The upward revision to third-quarter GDP is not all good news,” said Arun Raha, vice president of economic research and consulting for the North American operations of reinsurance company Swiss Re, in an email. “Apart from the higher-than-expected exports, we also got a higher-than-previously-estimated inventory buildup, which accounted for a large part of the increase.”

“My view on fourth-quarter growth remains pessimistic,” Raha concluded, echoing the fears of many investors.

Helping the bears control trading in the morning was news from the U.S. Labor Department that jobless claims for the week ended Nov. 24 rose 23,000 to 352,000, the highest number since February. The revised figure for the preceding week is 329,000.

The four-week moving average was 2,589,250, an increase of 20,500 from the preceding week’s revised average of 2,568,750.

“Employment is a lagging indicator, and as activity slows, we’ll see some softening in the job market,” said Raha. “The bad news on this front is yet to come.”

Bad news of a different kind came shortly after the start of trading, when the U.S. Census Bureau reported that new home sales for October missed projections. The numbers showed an increase of 1.7% to 728,000, but the total from September was revised down sharply to 716,000 from 770,000 previously.

The median sales price of new houses was $217,800, 15% cheaper compared with a year earlier, when the average new home cost $250,400.

The Russell 2000 (NYSE: IWM) is down on fears that the U.S. economy is slowing down despite news of a jump in third-quarter GDP. At 2:13 p.m. ET, the small-cap index had lost 5.38 points, or 0.70%, to 764.66. The Dow Jones Industrial Average (INDU) had added 6.34 points, or 0.05%, to 13,295.79.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported before the opening. That’s an upward revision from the preliminary figure of 3.9% and above economists’ projections of 4.8%.

Although that’s the highest quarterly growth rate in four years, investors are worried that slower growth lies ahead.

That’s in part because jobless claims for the week ended Nov. 24 rose 23,000 to 352,000, the highest number since February, according to the U.S. Labor Department before the start of trading. The revised figure for a week earlier is 329,000.

Also feeding the bears’ appetite is news that sales of new one-family houses in October came in below economists’ forecasts.

The U.S. Census Bureau reported that new home sales increased 1.7% to 728,000, but the total from September was revised down sharply to 716,000 from 770,000 previously. Economists were calling for sales of 750,000.

The numbers tell us that the slump in the housing sector is continuing and showing no signs of letting up.

Shares of American Woodmark Corp. (Nasdaq: AMWD) tumbled to a new 52-week low today after the kitchen cabinet and vanity manufacturer reported bleak results for its second quarter of fiscal 2008 and lowered its guidance for the full year of 2008.

For the three months ended Oct. 31, the Winchester, Va.-based company recorded net of $1.15 million, or $0.08 per diluted share, compared with net income of $9.19 million, or $0.57 per diluted share, in the prior year. Four analysts surveyed by Thomson Financial were on average forecasting $0.37 per share.

Net sales declined 24% to $160.23 million from $210.82 million. Three analysts surveyed by Thomson Financial were on average projecting sales of $167.34 million.

Sales of core products declined 17% in the second quarter, as both remodeling sales and new construction sales waned in comparison with the second quarter of 2007.

Gross profit declined to 17.3% of sales, compared with 20.3% in the previous year.

American Woodmark attributed the decline in gross profit margins to an unfavorable impact of inefficiencies in labor and overhead costs resulting from the impact of lower sales volumes, new product launches, higher medical costs and rising fuel costs. The company said inefficiencies more than offset favorability related to an improved sales mix that resulted from the prior completion of the company's low-margin products transition.

Additionally, American Woodmark said the gross margin rate for the quarter was adversely impacted by a change in the form of the company's sales promotional participation with one of its retail customers.

The Russell 2000 (NYSE: IWM) is falling on news of a rise in weekly U.S. jobless claims and despite higher-than-expected third-quarter economic growth.

At 10:43 a.m. ET, the small-cap index was missing 2.73 points, or 0.35%, to 767.31. The Dow Jones Industrial Average (INDU) was down 22.35 points, or 0.17%, to 13,267.10.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported before the opening. That’s an upward revision from the preliminary figure of 3.9%.

Economists were expecting a slightly more modest upward adjustment to a rate of 4.8%.

The fast rate of growth was largely due to a surge in exports, which rose 18.9% instead of the initially reported
16.2%. Imports increased 4.3%, while the preliminary numbers had forecasted a rise of 5.2%.

However, consumer spending increased a less-than-expected 2.7%, a sign that American consumers are getting tired in the face of stagnating home prices and high energy costs. Consumption is about 70% of gross domestic product.

Residential fixed investment, which includes housing, fell 19.7%, reflecting the ongoing slump in the housing sector.

Despite the economy’s strong third-quarter performance, the highest quarterly pace since 2003, a sharp slowdown is still in the cards.

The U.S. Labor Department reported before the start of trading that jobless claims for the week ended Nov. 24 rose 23,000 to 352,000, the highest number since February. The revised figure for a week earlier is 329,000.

Shares of American Woodmark Corp. (Nasdaq: AMWD) are sagging following news before the opening bell that the maker of kitchen cabinets lowered its fiscal year 2008 guidance and posted a decline in first quarter profit, missing analysts’ expectations.

Net income for the three months ended July 31 was $5.1 million, or $0.34 per share, well below the $0.46 per share anticipated by four analysts surveyed by Thomson Financial. The Winchester, Va.-based company had a profit of $0.82 per share during the first quarter of fiscal 2007.

Revenues also came in below Wall Street’s projections, dropping 25% to $166.06 million, while analysts were looking for revenues of $175.76 million. Revenues were $221.41 million a year earlier.

The Russell 2000 index is down one percent as U.S. stocks add to their earlier losses. At 3:04 p.m. ET the Russell 2000 was down 9.04 points, or 1.06%, to 846.05. The Dow Jones Industrial Average had lost 106.22 points, or 0.78%, to 13,570.10.

Shares of New Frontier Media, Inc. (Nasdaq: NOOF) are down on news the Boulder, Col.-based distributor of adult entertainment programming missed profit expectations. The net income for the full year ended March 31 was $12.3 million, or $0.51 per share, compared with $11.3 million, or $0.48 per share, in the 2006 fiscal year, the company said after the opening bell.

Sigma Designs, Inc. (Nasdaq: SIGM) raised its net income for the quarter ended May 5 to $8.5 million, or $0.32 per share, compared with a net income of $0.09 million, or $0.00 per share, during the same three months of 2006, the Milpitas, Calif.-based designer of video-oriented product solutions said after Monday’s close. That beat analysts’ projected earnings of $0.27 per share. The stock is up $0.45, or 2%, to $29.08.

Shares of Feldman Mall Properties, Inc. (NYSE: FMP) are flat following news this morning that the Great Neck, N.Y.-based renovator of regional shopping malls is considering strategic alternatives, which may include selling the company. The stock is at $11.38.