Tag - ES

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).

The Russell 2000 1.39% today, notching the sixth consecutive daily gain -- something that hasn’t happened all year. Today's small-cap gainers were CIT Group (NYSE:CIT), Terra Nitrogen (NYSE:TNH) and EnergySolutions (NYSE:ES).

Other Market Watch highlights included:

• For 2008, the Russell is down 29%, while the Dow is off 27% and the S&P 500 is down 31%.
• Within the energy arena, the Energy Select Sector SPDR Fund jumped 6.3%, mirroring a big surge in crude oil prices.
• Crude gushed 10% on talk that Saudi Arabia was slashing production.
• The greenback tumbled more than 300 basis points, or some 2.4% against the euro, triggering a buying spree in all sorts of commodity goods.
• The Commodity Research Bureau Index of 19 physical markets shot 5.3% higher today, with gains seen in everything from gold, sugar, coffee, grains, cattle and copper.

Small-Gap Gainers:

• CIT Group (NYSE:CIT) closed up 36% after closing deal to access $500M credit line.
  
• Nitrogen fertilizer producer Terra Nitrogen (NYSE:TNH) closed up 25% on Cramer recommendation.
• EnergySolutions (NYSE:ES) trading 31% higher as oil prices continue their ascent upward.
• Carrizo Oil and Gas Inc. (Nasdaq:CRZO) rallied 24% on news of a joint venture to pursue growth in Marcellus Shale.

Small-Cap Losers:

• Animal Health International Inc. (Nasdaq:AHII) gapped lower and tumbled 57% on unusually heavy volume amid earnings news.
  
• Data company TNS, Inc. (NYSE:TNS) closed down 27% after reporting a rise in Q3 earnings, issuing Q4 guidance below Street.
• Tenet Healthcare Corporation (NYSE:THC) swings to 3Q profit on investment sales gain, shares dive 37% at closing.
• Health Net (NYSE:HNT) turns to profit in Q3, slashes FY08 EPS outlook. Shares tumble 18%.

Small-cap stocks pushed higher on election day, lifted by strong commodity and financial stocks and relief that a long, yet historic political campaign was about over. The Russell 2000 (NYSE:IWM) closed up 7.47, or 1.39% at 545.97, the sixth consecutive daily gain, something that hasn’t happened all year. For 2008, the Russell is down 29%, while the Dow is off 27% and the S&P 500 is down 31%.

Today’s rally clearly favored large caps as investors still have a tinge of risk aversion that tends to favor bigger companies. Also, the rally in energy stocks had a more powerful influence on large caps as many energy companies have sizable market caps. For large caps, it ranked as the biggest election day rally since 1984 when incumbent Ronald Reagan carried 49 of 50 states, with runner-up Walter Mondale carrying only his home state of Minnesota and the District of Columbia.

Within the energy arena, the Energy Select Sector SPDR Fund jumped 6.3%, mirroring a big surge in crude oil prices. Crude gushed 10% on talk that Saudi Arabia was slashing production. In addition, commodities like crude oil benefited from a sizable slide in the U.S. dollar, which makes dollar-priced goods more attractive. The greenback tumbled more than 300 basis points, or some 2.4% against the euro, triggering a buying spree in all sorts of commodity goods.

The Commodity Research Bureau Index of 19 physical markets shot 5.3% higher today, with gains seen in everything from gold, sugar, coffee, grains, cattle and copper. The latter is seen as a key economic benchmark and copper prices jumped 6.4% in U.S. trading. In addition to the macro trends on the dollar, strong earnings for soybean processor Archer Daniels Midland Co. (NYSE:ADM) fueled a supportive tone for beaten down commodity stocks. ADM shares rallied some 14%.

Financial shares also were a big part of the story today, with the Financial Select Sector SPDR Fund up 5%, boosted by yet another decline for inter-bank lending . . .

Westport Innovations Inc. (Nasdaq:WPRT), Carrizo Oil & Gas Inc. (Nasdaq:CRZO) and EnerNOC Inc. (Nasdaq:ENOC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Energy Solutions Inc. (Nasdaq:ES), Bruker Corp. (Nasdaq:BRKR), Sykes Enterprises Inc. (Nasdaq:SYKE), Taleo Corp. (Nasdaq:TLEO), Evergreen Solar Inc. (Nasdaq:ESLR) and SunPower (Nasdaq:SPWRB).

Here are the biggest percentage gainers among small caps:

Small-cap stocks resumed the slide Tuesday, closing down 2.84%, unable to drift higher off soaring bank and financial stocks as worries about an economic slowdown put a damper on the consumer spending outlook and corporate profit projections. Small-cap gainers today included Broadwind Energy (OBB:BWEN), Holly Energy (NYSE:HEP) and Fauquier Bankshares (Nasdaq:FBSS). Other Market Watch highlights today included:

• Large-cap banks and financial institutions were the best performers today, boosted by news that the U.S. government will use $250 billion in taxpayer funds to purchase stock in select big banks.
• Treasury markets fell hard as the safe-haven push dulled amid strong gains in equities.
• At one point late Tuesday afternoon, the Russell was flirting with the third-largest one-day decline of 2008.
• The good news about the government buying big bank stocks was of little immediate solace to retailers, with the S&P Retail Index sinking nearly 4%.
• Crude oil futures turned lower, slipping about 2% back below $80 a barrel on concerns that a recession will demolish demand.
• BMO Capital’s Andy Busch told SmallCapInvestor.com that investors shouldn’t “get too excited by the upmove” today. “The Z factor,” or the unknown impact on companies’ sales or earnings, “will cap this rally as will the terrible . . .

Small-cap stocks resumed the slide Tuesday, unable to draft higher off soaring bank and financial stocks as worries about an economic slowdown put a damper on the consumer spending outlook and corporate profit projections. The Russell 2000 (NYSE:IWM) closed down 16.24, or 2.84%, at 554.65. At one point late in the afternoon, the Russell was flirting with the third-largest one-day decline of 2008, but forged a decent upside pop off the intraday low, leaving the Russell down 27.5% for the year. The Dow is off 29.8% for 2008, while the S&P 500 is down 32.0%.

Large-cap banks and financial institutions were the best performers today, boosted by news that the U.S. government will use $250 billion in taxpayer funds to purchase stock in select big banks. That news catapulted the market higher on the open, but within 30 minutes the opening gains in small caps had been given back as investors started to fret about the longer-term picture for the economy. In addition, hot money traders who caught part of the big bounce off the lows started to book profits, which helped stall upside momentum. Even with the sizable pullback in the overall market, the PHLX KBW Bank Index jumped 12%, while the Financial Select Sector SPDR Fund was up nearly 6%.

“Part of today’s sell-off looked to be the market taking protection against profit numbers. Samsung made cool comments on DRAM demand, which implies slowing PC sales and reduction in demand for technology,” Nick Kalivas, vice president of financial research with MF Global, said in an email interview with SmallCapInvestor.com.

Kalivas said that the higher open today was a “kiss of death” that invited selling because the banking bailout might help in the big picture, but does not change immediate economic conditions. And while the international viewpoint is . . .

After initially spiking out of the gate on the government’s plan to unfreeze credit markets by directly injecting capital in banks and guaranteeing loans between banks, the Russell 2000 has steadily descended into the red midday, as traders locked in profits from Monday’s goliath rally.

At 12:21 p.m. ET, the Russell 2000 (NYSE:IWM) was down 7.05, or 1.23%, at 563.66. The Russell continues to lag the Dow; however, the tech laden Nasdaq remains down double fold.

Building on Monday’s colossal gains, small caps opened higher following news that the U.S. will take Europe’s lead and directly inject capital into troubled banks, while also temporarily guaranteeing newly issued debt by banks. The government said it will also provide insurance for all non-interest-bearing accounts.

Also under the Treasury’s voluntary Capital Purchase Program, the government will purchase $250 billion in preferred shares of banks who elect to participate in the Treasury’s program by November 14. Thus far, nine major banks have said they will participate in the program. Commenting on the direct investment in financial entities, President Bush Tuesday said, the administration’s steps were “not intended to take over the free market but to preserve it.”

Financial firms remain in the green midday, with Morgan Stanley (NYSE:MS) up 20%, Citigroup Inc. (NYSE:C) up 17%, Bank of America Corp. (NYSE:BAC) up 14% and Goldman Sachs (NYSE:GS) up 13% leading the way.

“I would caution that the world is not going back to where it was before September,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “The freeze has meant that the outlook for the economy has soured and we're still not sure by how much. Call it the Z factor. This means that no one can be sure the impact on companies’ sales or earnings. The market was assessing a very negative outcome by selling equities down as far as they did prior to the US/global actions.  Now, we have had a massive rally as the market anticipates brighter times ahead. Don't get too excited by the upmove. The Z factor will cap this rally as will the terrible economic numbers that will come out over the next 6 weeks.”  ...

Energy Solutions Inc. (Nasdaq:ES), Domino's Pizza Inc. (Nasdaq:DPZ) and NewStar Financial Inc. (Nasdaq:NEWS) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Winmark Corp. (Nasdaq:WINA), HSN Inc. (Nasdaq:HSNI), Innospec Inc.(Nasdaq:IOSP), Lear Corp. (Nasdaq:LEA), YRC Worldwide Inc. (Nasdaq:YRCW) and 3D Systems Corp. (Nasdaq:TDSC).

Here are the biggest percentage losers among small caps: