Tag - BWS

With trading days left in 2010 dwindling many investors are looking through their portfolio and trying to decide what should stay, what should go, and where to increase exposure.

True, the major stock indexes are up for the year: The Dow Jones industrial average has rebounded 10 percent in 2010, and the Standard & Poor's 500 has regained about 11 percent.

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).

Exelixis Inc. (Nasdaq:EXEL), Perry Ellis International Inc. (Nasdaq:PERY) and Brown Shoe Company Inc. (Nasdaq:BWS) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Diamond Foods Inc. (Nasdaq:DMND), Geokinetics Inc. (Nasdaq:GOK), Monotype Imaging Holdings Inc. (Nasdaq:TYPE), Calavo Growers Inc. (Nasdaq:CVGW), John B  San Filippo & Son (Nasdaq:JBSS) and W&T Offshore Inc. (Nasdaq:WTI).

Astoria Financial Corp. (Nasdaq:AF), Quidel Corp. (Nasdaq:QDEL) and JAKKS Pacific Inc. (Nasdaq:JAKK) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Encore Wire Corp. (Nasdaq:WIRE), Omniture Inc. (Nasdaq:OMTR), CONMED Corp. (Nasdaq:CNMD), Benchmark Electronics Inc. (Nasdaq:BHE), Brown Shoe Company Inc. (Nasdaq:BWS) and Wesbanco Inc. (Nasdaq:WSBC).

Brown Shoe Company Inc. (Nasdaq:BWS), Bowne & Co Inc. (Nasdaq:BNE) and Worthington Industries Inc. (Nasdaq:WOR) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Volt Information Sciences Inc. (Nasdaq:VOL), Jones Apparel Group Inc. (Nasdaq:JNY), Goodrich Petroleum Corp. (Nasdaq:GDP), Rex Stores Corp. (Nasdaq:RSC), CPI International Inc. (Nasdaq:CPII) and Outdoor Channel Holdings Inc. (Nasdaq:OUTD).

Small-cap stocks pushed lower, pressured by concerns about corporate profits, worries about late holiday spending results and ongoing jitters about the economy and the credit crisis. Losses were limited by optimism about stimulus plans for 2009 and persistent bargain hunting from market watchers who believe the bottom has already been made.  Some of today’s small-cap gainers are Fuel Systems Solutions (Nasdaq:FSYS), American Capital Agency (Nasdaq:AGNC) and Flow International (Nasdaq:FLOW).

Other Market Watch highlights today included:

•Even though chipmakers were higher in European trading, tech stocks were underperforming both the Dow and small caps.  
• Citigroup analysts said that they remain underweight on utilities, autos and real estate investment trusts.
• The greenback remained down against the euro, which could underpin various commodity markets today.  
• Copper prices rose 4% in London trading, bolstered by a dip in the U.S. dollar vs. the euro & by news of a jump in China imports during November.

Small Cap Gainers:

• Fuel Systems Solutions up 5.13% in pre-market after analysts initiate coverage on Friday of the small cap with a "buy." See (Nasdaq:FSYS).  
• American Capital Agency up 3% in pre-market after declaring a $1.20 Q4 dividend. See (Nasdaq:AGNC). 
• Flow International 2% higher today after an analyst last week upgraded the small cap from "buy" to "strong buy," citing new 10Q financial reports. See (Nasdaq:FLOW).  
• Rackspace Hosting Inc. opened higher on light volume after taking a big hit Friday. See (NYSE:RAX).  

Small Cap Losers:

• Grey Wolf Inc. gapped lower and tumbled 40% to 52-week lows. See (NYSE:GW).  
• Brown Shoe Company Inc. fell 10%, giving part of a huge rally from Friday. See (NYSE:BWS). 
• Accuray down 7% after swinging to a Q1 loss on Friday. See (Nasdaq:ARAY).
• Ruby Tuesday announces multiple store closures and $70 million anticipated loss in 2009; shares dip 4.4%. See (NYSE:RT).  

Collective Brands Inc (Nasdaq:PSS), Insulet Corp (Nasdaq:PODD) and DineEquity Inc (Nasdaq:DIN) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Duff & Phelps Corp (Nasdaq:DUF), YRC Worldwide Inc (Nasdaq:YRCW), W.R. Grace & Co (Nasdaq:GRA), Brown Shoe Company Inc (Nasdaq:BWS), Crescent Banking Co (Nasdaq:CSNT) and OfficeMax Inc (Nasdaq:OMX).

Just when it looked like the Russell 2000 (NYSE:IWM) would close out Monday with a small gain, the index tipped into the red ahead of the bell on slumping financial stocks and concerns about the economy. Today’s small-cap gainers are Targanta Therapeutics (Nasdaq:TARG), CTS Corp. (NYSE:CTS) and PHH Corp. (NYSE:PHH).

Other Market Watch highlights today included:

• The NY Manufacturing Survey came in at -25.4, better than the forecast for -26.1. Still, it was the worst showing on record.
• Libor rates edged slightly higher overnight and have been correcting up slightly after going down every day for a month.
• The market was sharply divided today, with strong gains seen for several sectors, but big losses offsetting in other sectors, which had cumulative effect of keeping index movement relatively stable.
• Crude oil prices had an up and down day, but eventually succumbed to the economic fears and shed $2.09 a barrel, or 3.6% on the day. 
• Philly Fed says U.S. has been in a recession since spring, it will last 14 months, making it the most prolonged growth drought since the Great Depression.

Small Cap Gainers:

• Targanta Therapeutics Corp. (Nasdaq:TARG) rallied 36% on unusually heavy volume on news that the FDA will review an application for a skin infection drug made by the firm.
• CTS Corp. (NYSE:CTS) rose 18% as the electronics manufacturing supplier continued to rally off 52-week lows forged last week.
• PHH Corp. (NYSE:PHH) rose 17% as the financial services firm also tries to . . .

Forest City Enterprises (Nasdaq:FCE.A), Hiland Holdings GP LP (Nasdaq:HPGP) and Brown Shoe Company Inc. (Nasdaq:BWS) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Image Sensing Systems Inc. (Nasdaq:ISNS), Kenneth Cole Productions Inc. (Nasdaq:KCP), VeriFone Holdings Inc. (Nasdaq:PAY), Agree Realty Corp. (Nasdaq:ADC), Life Time Fitness Inc. (Nasdaq:LTM) and Hiland Partners LP (Nasdaq:HLND).

Brown Shoe Company Inc. (Nasdaq:BWS), TF Financial Corp. (Nasdaq:THRD) and OYO Geospace Corp. (Nasdaq:OYOG) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gladstone Commerical (Nasdaq:GOOD), RadiSys Corp. (Nasdaq:RSYS), Vivus Inc. (Nasdaq:VVUS), Century Aluminum Co. (Nasdaq:CENX), Hiland Partners LP (Nasdaq:HLND) and AmeriCredit Corp. (Nasdaq:ACF).

Here are the biggest percentage losers among small caps:

Small-cap stocks struggled to hold higher ground in morning trade, with support from a strong durable goods report offset by a big rally in crude oil prices and lingering concerns about the banking sector. At 9:55 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1, or 0.14%, at 724.51.

The durable goods report topped analyst expectations, with the headline number at 1.3%, well above the forecast for a meager rise of 0.1%. The upside surprise in orders sparked a trend reversal in stock index futures ahead of the open, with S&P 500 futures gaining more than four handles shortly after the report was released. Still, it should be noted that the durables data tends to be volatile, which could dull some of the bullish impact from the report. When stripping away the transportation component on the durables release, the number was still up 0.7%, which was a positive signal. The transportation orders include huge ticket items like airplanes, which create big swings in the headline number, so many traders and analysts will focus on the ex-transportation figure for a clearer picture of business spending. The yield on Treasury products was climbing fast this morning (meaning Treasuries themselves were lower) after the data surprise, hinting that the market was starting to consider rate hikes down the road.

On the Fed policy front, Atlanta Fed President Dennis Lockhart gave a speech on inflation this morning, and said that headline CPI will peak near the July level and that the current Federal Reserve monetary policy approach is consistent with an easing in overall inflation. Reading between the lines, it looks like the Fed leans toward protecting growth at this stage and will keep rates on hold for some time.

Crude oil prices were on a rampage this morning, shooting more than $3 a barrel higher, climbing back above $119 as energy traders build a weather premium into the market just in case Hurricane Gustav plows into crude oil and natural gas production areas in the Gulf of Mexico, which would pinch supplies. The Gulf area . . .

The Russell 2000 (NYSE:IWM) is posting a solid gain on news that a regional manufacturing index came in better than expected.

At 12:22 a.m. ET, the small-cap index was up 9.37 points, or 1.41%, to 673.50. The Dow Jones Industrial Average (INDU) had added 121.38 points, or 1.00%, to 12,221.04.

The Philadelphia Federal Reserve reported after the start of trading that its index of regional manufacturing activity showed a reading of -17 in March, while economists had forecasted -20. The reading for February was -24.

The numbers show continued weakness and represent the longest period of contraction in five years. The percentage of companies expecting to see growth over the next six months was almost the same as the percentage of those expecting a contraction.

With investors bullish, shares of footwear companies are leading the industry group winners.

Nelsonville, Ohio-based Rocky Brands Inc. (Nasdaq:RCKY), which makes shoes in the outdoor, work, duty and western styles, is seeing its stock rise 8%. Similarly, shares of athletic footwear maker K-Swiss Inc. (Nasdaq:KSWS) are also in the green.

Brown Shoe Company, Inc. (NYSE:BWS) and men’s footwear distributor Weyco Group Inc. (Nasdaq:WEYS) are also posting gains.

Brown Shoe Company, Inc. (NYSE: BWS) reported third-quarter earnings and sales below analysts’ estimates, and provided guidance below expectations, painting a lackluster investment prospect for investors. 

For the three months ended Nov. 3, the St Louis, Mo.-based company recorded net earnings of $27 million, or $0.61 per share, compared with $26.9 million, or $0.62 per share.

Brown Shoe noted that earnings include charges related to the company's “Earnings Enhancement Plan” of $0.06 per diluted share. Third quarter fiscal 2006 earnings included a charge of $0.03 per diluted share related to the exit of the Bass business.

Excluding such charges, earnings were $29.9 million, or $0.67 per diluted share.

Seven analysts polled by Thomson Financial were on average forecasting $0.64 per share.

“The Earnings Enhancement Plan is a long-term plan that’s not something that will generate positive results until it’s fully implemented, which is about three years from now,” said Susquehanna Financial analyst John Shanley. 

Consolidated net sales were $645.5 million, below the consensus of five analysts polled by Thomson Financial of $677.01 million. The current quarter’s sales represent a decrease of 4.6% over the $676.8 million earned in the third quarter of fiscal 2006.

Same-store sales at Famous Footwear declined by 6.2%, or a decrease of 2.6% on a comparable calendar, compared with last year's 8.2% increase.

Brown Shoe noted that the sales trend in the first half of the quarter was significantly better, generating a same-store sales decline of 4.1% (or an increase of 1.2 % on a comparable calendar) than the back-half of the quarter, when same-store sales declined 9.7% (or a decrease of 8.8% on a comparable calendar).

Wholesale sales declined 11.8% in the quarter to $213.7 million, compared with $242.3 million in the previous year.

Shares of Brown Shoe Company, Inc. (NYSE: BWS) are treading in the red, ahead of the shoe retailer’s earnings expected on Wednesday morning.

Seven analysts polled by Thomson Financial are on average forecasting the small-cap retailer to earn $0.64 per share, while five analysts are on average anticipating revenues of $677.01 million.

Susquehanna Financial analyst John Shanley is projecting earnings of $0.70 per share on revenues of $672 million. Management’s guidance is for sales of between $674 million to $684 million and earnings of $0.70 to $0.75.

“While we were encouraged by BWS’s longer-term assessment of its business prospects, management did note that, as with other footwear retailers, the weak economic environment and unseasonably warmer fall weather conditions across much of the nation during 3Q, could potentially negatively affect seasonal product sales, particularly boots,” Shanley wrote in a research note today.

The analyst noted, however, that the company’s tight inventory levels heading into the third quarter, coupled with cost savings from its earnings enhancement plan and the national presence of its Famous Footwear chain, could offset the adverse macroeconomic conditions facing the retailer.

Despite a bleak consumer spending outlook, pressured by rising gas prices and tighter credit, Shanley is maintaining a positive long-term outlook. For fiscal 2008, the analyst says he is comfortable that the company should be able to attain his sales and earnings growth estimates of 7% and 16%, respectively.

Additionally, Shanley says management believes that its Famous Footwear division has the potential to grow to a national chain with some 1,500 stores by 2011, yielding an additional $700 million to $800 million in sales volume through a combination of new store growth and comparable-store sales gains.

Shanley currently has a positive rating on the stock.

Shares of Brown Shoe (BWS) slid 4.41%, or $0.74, to $16.05 at 12:43 p.m. ET. Shares of Brown Shoe have been trading in the range of $15.70 to $37.68 for the past 52 weeks.