Tag - FCSX

FCStone Group, Inc. (Nasdaq:FCSX), Polypore International Inc. (Nasdaq:PPO) and Amicus Therapeutics Inc. (Nasdaq:FOLD) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Northwest Pipe Co. (Nasdaq:NWPX), Universal American Corp. (Nasdaq:UAM), Calgon Carbon Corp. (Nasdaq:CCC), Medicines Co. (Nasdaq:MDCO), Hutchinson Technology Inc. (Nasdaq:HTCH) and Hungarian Telephone and Cable Corp. (Nasdaq:HTC).

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

Edge Petroleum Corp (Nasdaq:EPEX), CSG Systems International Inc (Nasdaq:CSGS) and Coldwater Creek Inc (Nasdaq:CWTR) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FCStone Group, Inc. (Nasdaq:FCSX), Dycom Industries Inc (Nasdaq:DY), United Community Banks Inc (Nasdaq:UCBI), City Bank (Nasdaq:CTBK), Ardea Biosciences Inc (Nasdaq:RDEA) and Apex Silver Mines Ltd (Nasdaq:SIL).

Here are the biggest percentage gainers among small caps:

FCStone Group Inc. (Nasdaq:FCSX) is up 12% today after announcing ahead of the opening its board had approved the repurchase of up to $20 million in outstanding common shares. The buybacks would take place over the next 90 days. During the past 52 weeks, shares have ranged from $13 to $53.25. The stock is down more than 65% since January. In today’s trading, shares of Kansas City, Mo.-based FCStone are at $15.64, up $1.63 from Monday’s close. Trading volume is below average at about 700,000 shares.

Energy XXI (Nasdaq:EXXI), Canadian Solar Inc (Nasdaq:CSIQ) and Crocs Inc (Nasdaq:CROX) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Brigham Exploration Co (Nasdaq:BEXP), FCStone Group, Inc. (Nasdaq:FCSX), Gulfport Energy Corp (Nasdaq:GPOR), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF), OmniVision Technologies Inc (Nasdaq:OVTI) and Crucell NV ADR (Nasdaq:CRXL).

Here are the most actively traded companies among small caps:

First Horizon National Corp (Nasdaq:FHN), ATMI Inc (Nasdaq:ATMI) and Endwave Corp (Nasdaq:ENWV) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American Independence Corp (Nasdaq:AMIC), Maguire Properties Inc (Nasdaq:MPG), FCStone Group, Inc. (Nasdaq:FCSX), Anaren Inc (Nasdaq:ANEN), Pyramid Oil Co (Nasdaq:PDO) and DineEquity Inc (Nasdaq:DIN).

Here are the biggest percentage losers among small caps:

Small-cap stocks led an afternoon recovery charge in the stock market, grabbing a budding bid and running with it when Federal Reserve Chairman Ben Bernanke confirmed talk that government-sponsored mortgage firms would qualify for cheap money through the Fed’s discount window. The comeback push was impressive given a huge rally in crude oil futures to record highs above $147 dollars a barrel. In the end, the Russell 2000 (NYSE:IWM) closed up 4.51, or 0.67%, at 674.95.

It was a roller coaster session for stocks, with a morning downside rout triggered by steep losses in mortgage lending giants Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE), which ignited another bout of fear tied to the credit crunch and the slumping housing market. There was talk in the morning that the GSEs were on the cusp of insolvency and shares in both agencies were down nearly 50% as investors bailed out. However, by the end of the day, FNM pared losses down to the 20% range, and FRE to the 7% zone — still nothing to dismiss — but far more palatable to investors worried about systemic issues. Volume on FNM and FRE was humongous to say the least, and individual stocks often carve out major tops or bottoms in conjunction with volume spikes.

“The key significance of Fannie Mae and Freddie Mac in the current economic climate is their ability to soften the impact of the credit crunch,” Goldman Sachs analysts said in an email earlier today. The Goldman research note even predicted ahead of time that the Fed would extend outright credit support to GSEs. The notion that bringing the GSEs onto the Federal balance sheet would “raise government debt by $5.3 trillion” and thereby sharply worsen the U.S. government’s creditworthiness was misleading, Goldman said. “The $5.3 trillion refers to the GSE’s holdings of mortgages and loan guarantees, which is not at all the same thing as outright liabilities. The government would have to cover any GSE losses, but this would be a much, much smaller number under any reasonable set of assumptions,” Goldman analyst Jan Hatzius wrote.

Small-cap stocks were noticeably strong relative to large-cap index products, a theme that has been in play for the last few weeks. Even though the Dow is at two-year lows, and the S&P 500 slumped to near two-year lows today as well, . . .

Community Valley Bancorp (CA) (Nasdaq:CVLL), Pzena Investment Management Inc (Nasdaq:PZN) and DineEquity Inc (Nasdaq:DIN) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gateway Financial Holdings Inc (Nasdaq:GBTS), Webster Financial Corp (Nasdaq:WBS), Alaska Air Group Inc (Nasdaq:ALK), FCStone Group, Inc. (Nasdaq:FCSX), Pacific Sunwear of California Inc (Nasdaq:PSUN) and Continental Airlines Inc (Nasdaq:CAL).

Here are the biggest percentage losers among small caps:

FCStone Group, Inc. (Nasdaq:FCSX) CEO Paul Anderson said the Kansas City-based commodity risk management firm is prudently monitoring the domestic and international economic environment and believes the firm has the employees and processes needed to mitigate potential issues. Anderson made the comments during a midday conference call with analysts and investors.

“We’re confident in our ability to thrive in all market environments and remain excited about the new growth prospects that we have in place, as well as our ability to continue to expand the business and grow over the long term by focusing both domestically and internationally,” Anderson said.

In Thursday afternoon trading, FCSX has plunged almost 46% and is the leading percentage loser on the Nasdaq. The company’s stock is down nearly 25% since going public last year.

KCStone reported early Thursday that its third-quarter profit clocked in at $8 million, or $0.28 per share, which widely missed Wall Street’s expectation of $0.47 per share. During the year-earlier quarter, KCStone earned $8.1 million, or $0.29 per . . .

Small-cap stocks weathered several storms today to punch out a higher close as investors were able to look past a sudden reversal higher in crude oil futures, renewed credit crunch worries amid a collapse in mortgage finance stocks and safe-haven money flow into short-dated treasury products. Oversold conditions and bargain hunting spurred by merger activity were enough to pull small-cap stocks into the green. The Russell 2000 (NYSE:IWM) rose 6.68, or 1.01%, to 670.44.

Heading through midday trading, the market tried to carve out a modest recovery rally in the wake of Wednesday’s big collapse, but a sudden afternoon surge in crude oil prices stomped out bullish sentiment in equities — at least for a while. Crude oil prices charged more than $5 a barrel higher, climbing back above $141 on supply concerns out of Africa and Brazil and amid ongoing tension in the Middle East.

Workers in Brazil threatened to initiate a five-day strike next week, while a ceasefire in Nigeria threatened supply from Africa. Meanwhile, Iran said it has been test-firing more missiles, as a “lesson for enemies;” U.S. officials warned Iran that it would defend its allies. The potential for supply disruption and geopolitical tension was enough to spark the sudden resurgence in crude oil prices, which had tumbled some $10 a barrel off recent record highs.

S&P 500 futures actually made their daily high this morning before the regular market even opened, rising to highs in conjunction with a better-than-expected headline figure on the weekly jobless claims report. The report showed a decline in claims to 346,000 which was much better than the 395,000 forecast and a big improvement on last week’s 404,000 figure. However, there were some “devils in the details” of the data, which hinted that all is not well in the labor market.

“Continuing claims, which lag initial claims by one week, rose 91,000 to 3.202 million. The insured unemployment rate moved up to 2.4% from 2.3% in the prior week. The insured unemployment rate has held at 2.4% in three out of the last five weeks. The noticeable decline in initial claims is a distortion and is not an indicator of a market improvement in labor market conditions,” Asha Bangalore, economist . . .

After a rocky finish to Wednesday’s trading, small-cap stocks are slightly higher midday Thursday on encouraging congressional testimony from Federal Reserve Chairman Ben Bernanke, though woes in the U.S. mortgage and housing industries continue to pressure stocks.

At 1:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 7.50, or 1.13%, at 671.25, while the Dow was up 63.43, or 0.57%, at 11,210.87.

Bernanke spoke before the House Financial Services Committee and encouraged the government to update its outdated financial regulation system. Bernanke, along with Treasury Secretary Henry Paulson, urged the government to create a safety net that would minimize a failing bank’s impact on the broader economy.

"In light of the Bear Stearns episode, Congress may wish to consider whether new tools are needed for ensuring an orderly liquidation of a systemically important securities firm that is on the verge of bankruptcy, together with a more formal process for deciding when to use those tools," Bernanke said.

Paulson added that major mortgage lenders Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) will be able to recover from this rough patch, and that he had been informed that both Fannie and Freddie have enough capital. Shares of the mortgage companies sank by midday, though, with Fannie Mae falling 10% and Freddie Mac skidding 20%. The mortgage giants’ woes dragged down many financial stocks amid worries the banking crisis is far from over.

Not helping calm investors was a RealtyTrac Inc. report early in the day that showed U.S. foreclosure filings grew 53% in June from the prior year. Bank repossessions soared the most since the company began collecting data in 2005.

FCStone Group, Inc. (Nasdaq:FCSX), Columbia Banking System Inc (Nasdaq:COLB) and United Community Bancorp (Nasdaq:UCBA) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Entercom Communications Corp (Nasdaq:ETM), FirstFed Financial Corp (Nasdaq:FED), MGIC Investment Corp (Nasdaq:MTG), Zumiez Inc (Nasdaq:ZUMZ), Investors Title Co (Nasdaq:ITIC) and Penford Corp (Nasdaq:PENX).

Here are the biggest percentage losers among small caps:

Small-cap stocks pushed higher in morning trade, overcoming ongoing fears about the credit crunch, particularly as they relate to slumping home financing providers Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE). At 10:02 a.m. ET, the Russell 2000 (NYSE:IWM) was up 4.84, or 0.70%, at 668.39. Shortly after the open, FNM shares collapsed 16%, while FRE was down 18%.

Buyers in the stock market seemed to gain some confidence on news that Federal Reserve Chairman Ben Bernanke’s congressional testimony today will show that the central bank remains focused on financial market turmoil. Wire service reports said that Bernanke would push to let the government “liquidate” any major firm on the cusp of bankruptcy.

The morning seemed full of promise just one hour before the regular opening, with stock index futures charging higher on M&A news, an improved outlook from consumer barometer Wal-Mart (NYSE:WMT) and a bullish surprise on the headline weekly claims report. However, the market turned south about 30 minutes ahead of the open as the credit crunch jitters overtook investor psychology amid talk that FNM and FRE were approaching insolvency. Spreads traded on the firms in the debt market widened substantially after former Federal Reserve official William Poole said the firms may need to be bailed out.

Stock index futures made the overnight high when the weekly claims report came out at 346,000, which was much better than the forecast for 395,000, and which should have alleviated some of the recession fears fanned by last week’s stunning 404,000 claims report. However, continuing claims remained above 3 million, which underscores a difficult labor market picture.

Wal-Mart’s June same-store sales jumped 5.8%, which surpassed analyst expectations for a rise of 3.8%. The retailer followed up the strong sales news by raising their second-quarter outlook, which sparked a rally in overnight trading in WMT, but the stock was basically flat early on today after the open. There is some concern that the bump in WMT June sales may have been bolstered artificially by the fiscal . . .

FCStone Group, Inc. (Nasdaq:FCSX), Jos A Bank Clothiers Inc (Nasdaq:JOSB) and Canadian Solar Inc (Nasdaq:CSIQ) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Evergreen Solar Inc (Nasdaq:ESLR), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF), Trico Marine Services Inc (Nasdaq:TRMA), Micrus Endovascular Corp (Nasdaq:MEND), TriQuint Semiconductor Inc (Nasdaq:TQNT) and California Pizza Kitchen Inc (Nasdaq:CPKI).

Here are the most actively traded companies among small caps:

FCStone Group Inc. (Nasdaq:FCSX) is falling more than 33% in pre-market trading after the company announced earlier today its third-quarter profits had dropped. For the quarter ended May 31, FCStone reported net income of $8 million, or $0.28 per share, compared with $8.1 million, or $0.29 a share, for the same quarter a year ago. Wall Street was expecting $0.47 per share. FCStone Group is a Kansas City, Mo.-based commodity risk management company. It said costs and expenses were higher than the previous year because of higher volume-related costs of broker commissions and pit brokerage and clearing fees. The company also said write offs slashed profits by $4.2 million.

Ahead of today’s opening, shares of FCStone are down $10 at $19.90. Shares have ranged from $18.39 to $53.25 during the past year.

GFI Group Inc (Nasdaq:GFIG), Cal-Maine Foods Inc (Nasdaq:CALM) and Solarfun Power Holdings Co Ltd (Nasdaq:SOLF) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc (Nasdaq:CSIQ), FCStone Group, Inc. (Nasdaq:FCSX), National Coal Corp (Nasdaq:NCOC), Quest Energy Partners L P (Nasdaq:QELP), DrdGold ADR (Nasdaq:DROOY) and Gilat Satellite Networks Ltd (Nasdaq:GILT).

Here are the most actively traded companies among small caps:

Small-cap stocks pulled lower Monday, unable to escape the familiar bearish shadow of rising crude oil prices and slumping financial shares. The Russell 2000 (NYSE:IWM) tumbled 5.92, or 0.82%, to 719.81, the second-lowest daily close since early May.

Small caps were noticeably soft relative to the large-cap Dow, which found comfort from energy-related gains in Exxon Mobil Corp. (NYSE:XOM), which gained about 2.3% to play a supportive role for the Dow 30.

Speaking of energy, crude oil prices climbed about 1% past $136 dollars a barrel, a brazen show of support given the fact that Saudi Arabia pledged to increase production. However, the possibility of more supplies was lapped up amid worker strikes in Nigeria and heightened Middle East tensions following last week’s news that Israel staged a large practice military strike against Iran’s nuclear production facilities.

The U.S. dollar managed to push higher today despite the rally in crude oil prices, gaining about 0.5% against the euro and about 0.4% versus the yen. However, advances in the greenback were trimmed back from better levels seen into the U.S. stock market opening, when soft Eurozone economic data bolstered the buck.

Every new trading day seems to bring with it a new bearish scare for the battered financial sector and today’s fright du jour was a warning from influential analysts at Goldman Sachs that the credit crunch will get a “second wind” and that junk bond defaults will rise more quickly than expected. Goldman also said that regional . . .

The Russell 2000 (NYSE: IWM) futures have gained and the small-cap index is poised to open in the green.

The bulls are ready to go following news that fiscal first-quarter profit at investment banking giant The Goldman Sachs Group, Inc. (NYSE: GS) fell 53% but beat Wall Street’s projections. Investors are looking to see if investment banks will be able to weather the financial turmoil, particularly after Bear Stearns’ (NYSE: BSC) spectacular demise.

All eyes will be on the U.S. Federal Reserve today as the Fed gets together for its regularly scheduled policy meeting. The market is pricing a full 1% cut in the federal funds rate, dropping it to 2% from the current 3%. A decision will be announced at about 2:10 p.m. ET.

In economic news, the U.S. Labor Department reported this morning that producer prices rose an expected 0.3% in February. Meanwhile, the U.S. Census Bureau reported that housing starts fell more than expected in February, a sign that the housing slump continues in full force.

Small-cap stocks took a dive again on Monday, with the Russell 2000 sinking 12.43, or 1.87% to 650.48, the second lowest daily close since Nov. 1, 2005. The market did generate a mild bounce off the morning lows, and sits on an immediate test into Tuesday’s opening at 650; below there, the next support is at 644. A breach of the latter could see the market back into freefall mode. Look for resistance Tuesday at 660, then at 667 and 677.

The afternoon promises some potential sparks, as the market will react to the FOMC meeting announcement.

 

The Russell 2000 (NYSE:IWM) declined as news of an emergency sale of Bear Stearns spread fears of financial turmoil. The small-cap index fell 12.42 points, or 1.87%, to 650.48. The Dow Jones Industrial Average (INDU) gained 21.16 points, or 0.18%, to 11,972.25.

On a year-to-date basis, the Russell 2000 has shed 15.08%, while the Dow is down 9.74% and the S&P 500 has retreated 13.06%.

Stocks small and large opened significantly lower on news that investment bank JPMorgan Chase & Co. (NYSE:JPM) has purchased Bear Stearns (NYSE:BSC) for just $2 per share, according to an announcement on Sunday.

The buyout was unprecedented, as the U.S. Federal Reserve gave JPMorgan $30 billion in special financing to complete the deal and prevent further financial turmoil. Shares of Bear Stearns were worth over $170 a year ago, but the company was heavily involved in securities backed by subprime mortgages and was dealt a lethal blow by the housing downturn.

The Fed also lowered its discount rate, the rate at which it lends funds to commercial banks, to 3.25% from 3.50%. The central bank will hold a regularly scheduled policy meeting on Tuesday, with investors expecting a steep cut in its target federal funds rate.