Tag - BTH

The stock market has remained in a holding pattern all week, as traders wait to see what kind of a compromise Congress and the White House can reach over federal spending as the August 2nd deadline looms large.

While the major small cap stock indexes don't show it, there were plenty of big moves Thursday as investors found positive signs spread among the ruins. Three of the top five performers all hit 52-week highs, and a management change helped the day's top small cap stock, Universal Forest Products, post a healthy 21 percent increase despite a 69 percent profit drop in the second quarter.

The Russell 2000 Index lost 1.63 percent in value and the Standard & Poor's Small Cap 600 dropped a similar 1.64 percent. While the Nasdaq Stock Market dropped 1.22 percent, two other major U.S. stock indexes held their ground a little better - the Dow Jones Industrial Average closed 0.44 percent lower, and the Standard & Poor's 500 was off 0.67 percent.

SeaChange International Inc. (Nasdaq:SEAC), CPI Corp. (Nasdaq:CPY) and Sinovac Biotech Ltd. (Nasdaq:SVA) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Novavax Inc. (Nasdaq:NVAX), Trubion Pharmaceuticals Inc. (Nasdaq:TRBN), Zion Oil and Gas Inc. (Nasdaq:ZN), Applied Signal Technology Inc. (Nasdaq:APSG), Hardinge Brothers Inc. (Nasdaq:HDNG) and Blyth Inc. (Nasdaq:BTH).

Ceradyne Inc. (Nasdaq:CRDN), Callaway Golf Co. (Nasdaq:ELY) and Great Southern Bancorp Inc. (Nasdaq:GSBC) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Blyth Inc. (Nasdaq:BTH), Oriental Financial Group Inc. (Nasdaq:OFG), Titan Machinery Inc. (Nasdaq:TITN), Medifast Inc. (Nasdaq:MED), Brown Shoe Company Inc. (Nasdaq:BWS) and Firstbank Corp. (Nasdaq:FBMI).

Macerich REIT (Nasdaq:MAC), Fisher Communications Inc. (Nasdaq:FSCI) and AnnTaylor Stores Corp. (Nasdaq:ANN) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AngioDynamics Inc. (Nasdaq:CBAN), Blyth Inc. (Nasdaq:BTH), Penn Virginia Corp. (Nasdaq:PVA), Winnebago Industries Inc. (Nasdaq:WGO) and Monarch Casino & Resort Inc. (Nasdaq:MCRI).

The Russell 2000 (NYSE:IWM) rose higher at closing, outpacing many large-cap indices that slumped on weak financial and energy stocks. Some of today’s small-cap gainers were Integrated Electrical Services (Nasdaq:IESC), Blyth (NYSE:BTH) and Volt Information (NYSE:VOL).

Other Market Watch highlights today included:

• The personal income data came in at minus 0.2%, which was slightly below the forecast for a decline of 0.3%.
• For the year, personal income was up 3.7%, which marked the smallest rise since 2003. 
• The ISM Manufacturing Survey came in at 35.6, which was a little better than the projection of 33, but still historically low.
• For the year, the Russell is down 9.9%, while the Dow is off 9.5% and the S&P 500 is down 8.6%.
• The tech-laden Nasdaq 100 advanced 1.3% on the day, with semiconductor stocks, systems software manufacturers and telecoms leading the way.
• It was interesting to see small caps diverge away from energy stocks today, as the Energy Select Sector SPDR Fund fell 1.6%.
• More often than not, small caps tend to track energy trends fairly closely, partly because of all the small-cap energy firms in play.
• The U.S. dollar started out the day higher against the euro, but gave back those gains by the close. 

Small Cap Gainers:

• Integrated Electrical Services Inc. jumped 26% ahead of earnings news slated to come after Monday’s close. See (Nasdaq:IESC).
• Blyth Inc. staged an impressive bullish key reversal by making new lows for the move then storming higher on unusually brisk volume. The home fragrance . . .

Small-cap stocks closed higher, navigating through a cross-current of worry about profits and the recession versus bargains in the technology arena. Slumping energy stocks and weak financials kept the Dow and S&P 500 on the defensive today, but the Russell 2000 (NYSE:IWM) rose 6.09, or 1.37%, at 449.61. For the year, the Russell is down 9.9%, while the Dow is off 9.5% and the S&P 500 is down 8.6%.

The tech-laden Nasdaq 100 advanced 1.3% on the day, with semiconductor stocks, systems software manufacturers and telecoms leading the way. Whenever the tech stocks markedly pace a move in equities, it always stirs talk that those firms will be better positioned to shoot higher when the economy recovers. From a market observation perspective, it would be healthy here to see small caps start to lead the way up on rallies versus the Dow, because it would suggest that investors are willing to take on more risk and not simply parking money in the big-name big-cap defensive stocks. Small caps led the way up during the bull market from 2002 to 2007, and they have been battered relative to large caps so far in 2009, which doesn’t help the bottoming argument.

This morning’s ISM Manufacturing Survey showed a smaller-than-expected pullback in the manufacturing sector, but the number was still consistent with a deep recession. The stock market bounced off the morning lows on the number, but it was still difficult to embrace the ISM report as a harbinger of better times to come. Ahead of the ISM report earlier today, the personal income release reflected a severe pullback in spending, which isn’t a surprise, but which always is a concern to the U.S. economy, which is so dependent on consumer spending for growth. Looking ahead to Tuesday’s session, the market will get vehicle sales, but no other fresh economic data of note.

It was interesting to see small caps diverge away from energy stocks today, as the Energy Select Sector SPDR Fund fell 1.6%. More often than not, small caps tend to track energy trends fairly closely, partly because of all the small-cap energy firms in play, and also because energy prices often set the tone for commodities, which also are well represented in small-cap indices. From an energy perspective, . . .

Small-cap stocks turned higher in choppy trade into midday, with pressure from soft energy and financial shares countered by gains in retail and technology stocks. Some of today’s small-cap gainers were Blyth Inc. (NYSE:BTH), Volt Information Science Inc. (NYSE:VOL) and Preformed Line Products Co. (Nasdaq:PLPC).

Other Market Watch highlights today included:

• Energy stocks were among the worst performers so far today, with the Energy Select Sector SPDR Fund off 2%.  
• The yield on benchmark 10-year notes, which moves inverse to price, was down 2.6% as demand was solid for credit instruments.  
• Treasury markets continued to rise through mid-session trading, which may have siphoned some money away from equities.   
• Small caps turned higher in choppy trade into midday, with pressure from soft energy and financial shares countered by gains in retail and technology stocks.

Small Cap Gainers:

• Blyth Inc. jumped 29% on unusually heavy volume, recovering nicely from news lows set late last week after the home fragrance and home décor firm announced a reverse stock split. See (NYSE:BTH).  
• Volt Information Science Inc. rose 21% recovering from a wild up and down session Friday in conjunction with earnings news. See (NYSE:VOL). 
• Preformed Line Products Co. was up 18% without any apparent fresh news, as the network line maintenance company mounted a big bounce off move lows forged last week. See (Nasdaq:PLPC).  
• Inter Parfums Inc. was up 7.4% after a rocky few days of trading surrounding earnings results from late January. See (Nasdaq:IPAR). 

Small Cap Losers:

• Las Vegas Sands Corp. tumbles 12% after naming Bradley Stone as president of global operations and construction See (NYSE:LVS).  
• Signet Jewelers Ltd. tumbled 14% as the specialty jewelry retailer fell to new 52-week lows. See (NYSE:SIG). 

Small-cap stocks turned higher in choppy trade into midday, with pressure from soft energy and financial shares countered by gains in retail and technology stocks. At 12:39 p.m. ET, the Russell 2000 (NYSE:IWM) was up 2.96, or 0.67%, at 446.48.

Treasury markets continued to rise through mid-session trading, which may have siphoned some money away from equities. The yield on benchmark 10-year notes, which moves inverse to price, was down 2.6% as demand was solid for credit instruments.

Energy stocks were among the worst performers so far today, with the Energy Select Sector SPDR Fund off 2% as crude oil prices edged lower amid concern about demand from not just the United States, but also major energy customers around the world.

Looking at S&P groups so far today, the best performers were health care, food distributors, systems software firms, department stores, Internet retail, Internet software services, semiconductor companies and homebuilders. After a rough go in recent days, the ISE Homebuilder Index was up about 1.4% at midday with small-cap homebuilder Meritage Homes Corp. (NYSE:MTH) up 5.8%.

Small-cap retailers making positive noise today included Inter Parfums Inc. (Nasdaq:IPAR), as the cosmetics firm was up 7.4% after a rocky few days of trading surrounding earnings results from late January.

Some negative sentiment continues to be attached to concerns that progress on the “bad bank” concept appears to have stalled and also by worries that passage of a big stimulus package could take longer than originally expected.

Individual small caps making a move today include Blyth Inc. (NYSE:BTH), which jumped 29% on unusually heavy volume, recovering nicely from news lows set late last week after the home fragrance and home décor firm announced a reverse stock split. Volt Information Science Inc. (NYSE:VOL) rose 21% recovering from a wild up and down session Friday in conjunction with earnings news. Preformed Line Products Co. (Nasdaq:PLPC) was up 18% without any apparent fresh news, as the network line maintenance company mounted a big bounce off move lows forged last . . .

Blyth Inc. (Nasdaq:BTH), Volt Information Sciences Inc. (Nasdaq:VOL) and Preformed Line Products Co. (Nasdaq:PLPC) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: 3D Systems Corp. (Nasdaq:TDSC), Integrated Electrical Services Inc. (Nasdaq:IESC), Encore Bancshares Inc. (Nasdaq:EBTX), Omega Flex Inc. (Nasdaq:OFLX), First Advantage Corp. (Nasdaq:FADV) and Lincoln Educational Services Corp. (Nasdaq:LINC).

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)

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).

Allos Therapeutics Inc. (Nasdaq:ALTH), Otelco Inc. (Nasdaq:OTT) and Blyth Inc. (Nasdaq:BTH) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: K Swiss Inc. (Nasdaq:KSWS), Heritage Crystal Clean Inc. (Nasdaq:HCCI), Retalix Ltd. (Nasdaq:RTLX), Vail Resorts Inc. (Nasdaq:MTN), VIST Financial Corp. (Nasdaq:VIST) and America's Car-Mart Inc. (Nasdaq:CRMT).

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).  

CTS Corp. (Nasdaq:CTS), Theravance Inc. (Nasdaq:THRX) and Texas Industries Inc. (Nasdaq:TXI) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Commonwealth Bankshares Inc. (Nasdaq:CWBS), ATA Inc. (Nasdaq:ATAI), China East Air Depository Receipt (Nasdaq:CEA), Blyth Inc. (Nasdaq:BTH), Mentor Corp. (Nasdaq:MNT) and PHH Corp. (Nasdaq:PHH).

Small-cap stocks collapsed Thursday, unable to stave off a firestorm of sellers that were ignited by fears of a global economic slowdown. Worries about Friday morning’s Labor Department release on the U.S. employment picture also stoked the flames after a private employment survey this morning came in on the weak side of expectations. In the end, the Russell 2000 (NYSE:IWM) tumbled 23.29, or 3.14% to 718.62, matching the largest one-day decline of 2008 in the process — a decline posted way back on Jan. 4.

It was a rout throughout the equity markets, with the Dow off 2.99% and the S&P 500 down 2.99% as well. For the year, the Russell is down 6.1%, while the Dow is down 15.6% and the S&P 500 is off 15.8%.

Fear definitely got the upper hand on greed Thursday, as investors bailed on stocks in favor of safer fare. Money flow into credit instruments was clearly an important theme, as the yield on benchmark 10-year notes tumbled nearly 2% to the lowest point since April. Yields move inversely to bond and note prices, which means that the price for those credit instruments was driven higher on the demand for safe-haven investments.

The market was already on the defensive overnight as equities around the world edged lower and the selling mentality heated up before the opening when the ADP National Employment Report showed that 33,000 private sector jobs were lost in August. Market watchers were looking for the ADP report to show a loss of about 20,000 jobs, so a pullback in stocks on the weaker figure was not a surprise, but the velocity of today’s afternoon descent in stocks was a jolt. Interestingly, the ADP report would seem to suggest a decline on Friday’s big Labor Department employment report of about 40,000 non-farm jobs, which would actually be better than the consensus forecast for a decline of 71,000 workers. Whatever the outcome, it should be noted that the ADP data has not been a reliable predictor of the . . .

Small-cap stocks went into freefall mode through midday trading as investors fretted about the state of the U.S. economy and even the global picture ahead of Friday’s key employment report. A bevy of mixed economic indicators this morning only served to stoke this jitters. At 12:49 p.m. ET, the Russell 2000 (NYSE:IWM) was down 18.70, or 2.52%, at 723.21.

Today’s decline was impressively broad-based; index products on homebuilders, retailers, airlines, financials, energy, industrial, banking and drug stocks were all deep in the red, with consumer staples one of the few themes higher…and even those gains were lean.

The stock market was already trading lower heading into the opening as overseas equities were sinking, but the selling mood darkened as a private employment report came in below expectations. The ADP employment report came in at minus 33,000, which was below the forecast for a decline of 20,000. Even though the ADP report hasn’t been a very reliable gauge for the Labor Department release, it was still enough of a scare to keep buyers on the sidelines and to spook out longs ahead of Friday morning. A separate report on the non-manufacturing sector actually topped the estimate, but a sub-index within that date series on employment tumbled . . .

Spectranetics Corp. (Nasdaq:SPNC), Volt Information Sciences Inc. (Nasdaq:VOL) and Blyth Inc. (Nasdaq:BTH) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Opnext Inc. (Nasdaq:OPXT), Hovnanian Enterprises Inc. (Nasdaq:HOV), Houston American Energy Corp. (Nasdaq:HUSA), Acme Packet Inc. (Nasdaq:APKT), Northern Oil and Gas Inc. (Nasdaq:NOG) and Diamond Management & Technology Consultants Inc. (Nasdaq:DTPI).

Here are the biggest percentage losers among small caps:

Small-cap stocks opened lower, pressured by concerns on the jobs front ahead of Friday’s big employment report. In addition, money flow appeared to favor “safe haven” routes like Treasury products to the detriment of equities. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 8.70, or 1.17%, at 733.20.

The ISM Non-Manufacturing Survey came in at 50.6, which was above the forecast of 49.5. However, the employment sub-index slipped to 45.4, compared with 47.1 last month, which offset some of the bullish implications of the headline number.

The ISM data marked the final piece of data on a very busy morning for economists. Earlier this morning, investors had to navigate through the ADP employment survey, weekly unemployment claims and the productivity report. For the record, the ADP report came in at minus 33,000, which was worse than the forecast for a dip of 20,000; the weekly unemployment claims were at 424,000, which was basically in line with the 423,000 forecast; and the productivity report came in at 4.3%, which was way ahead of the 3% projection. Who knows why productivity surged this summer (lower pay and more work by employees perhaps?), but the productivity report was basically ignored and the market remained on the defensive primarily on the ADP data.

Even though the ADP report hasn’t had a very strong correlation to the actual Labor Department report, investors are still nervous ahead of Friday’s big event. The employment report is expected to show a decline of 71,000 on non-farm payrolls, with the unemployment rate at 5.8%.

It is worth noting that interest rates continue to push lower. Rates work inversely to credit instruments, which means that demand for bonds and notes is strong. The rate on the benchmark 10-year note tumbled to the lowest point this morning . . .

Small-cap stocks took flight Thursday, soaring in response to strong chain store sales, and a bullish surprise on weekly unemployment claims. The Russell 2000 (NYSE:IWM) shot up 19.55, or 2.63%, to 763.26, the highest daily close of the year.

In the process, the Russell stormed through key long-term resistance at 750, a point that had been difficult to tackle in recent weeks. That area represented a 50% Fibonacci retracement of the entire bear market collapse, and sets the stage for a rally toward the final key retracement of 61.8%, which is near 775. The market could pause near 760, which is a logical chart-related resistance area on the way toward 775. A weekly close above 750 after jobs Friday would be an important benchmark within the ongoing rally off the March lows.

The strong performance was impressive in front of Friday’s employment report, which suggests that shorts were no longer willing to risk losing trades in front of the big release, and that new longs were comfortable taking on positions ahead of the jobs event.

The catalyst for today’s rally appeared to center on surprisingly stout monthly chain-store sales results. Apparently gasoline pump prices near $4 dollars a gallon didn’t stop consumers from heading out to the store to unload some of their tax rebate money from Uncle Sam. With the U.S. economy heavily dependent on spending for momentum, a show of strength from retailers is a welcome sign to the market.

Among retailers, discounters like Costco (Nasdaq:COST) and Wal-Mart (NYSE:WMT) had particularly impressive results, with Costco comp sales up 9% in May and Wal-Mart up 3.9%. Wal-Mart’s stock embraced the news, surging 3.5% to four-year highs. Costco was up 3.4%. And it wasn’t just a large-cap story on the retailer front. Small-caps Hot Topic Inc. (Nasdaq:HOTT) jumped some 16% as sales at the pop culture apparel and accessories store came in much better than feared. Also, Cache Inc. (Nasdaq:CACH) rose about 14% as sales at the specialty women’s apparel store . . .

United Community Bancorp (Nasdaq:UCBA), Blyth Inc (Nasdaq:BTH) and Pacific Booker Minerals Inc (Nasdaq:PBM) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Quixote Corp (Nasdaq:QUIX), ADA-ES Inc (Nasdaq:ADES) and Southwest Georgia Financial Corp (Nasdaq:SGB) are also among the biggest percentage losers.

Here are the biggest percentage losers among small caps: