Tag - SHOO

<strong>West Marine Inc.</strong> (Nasdaq:<a href="/ticker/wmar">WMAR</a>), <strong>Patni Computer Systems&nbsp;</strong>(Nasdaq:<a href="/ticker/pti">PTI</a>) and <strong>Sourcefire Inc.</strong> (Nasdaq:<a href="/ticker/fire">FIRE</a>) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.<br /> <br /> Also included among the results: <strong>GHL Acquisition Units</strong> (Nasdaq:<a href="/ticker/ghq.u">GHQ.U</a>),<strong> AEP</strong> <strong>Industries Inc.</strong> (Nasdaq:<a href="/ticker/aepi">AEPI</a>), <strong>Dynamics Research Corp.</strong> (Nasdaq:<a href="/ticker/drco">DRCO</a>), <strong>Steven Madden Ltd.</strong> (Nasdaq:<a href="/ticker/shoo">SHOO</a>) and &nbsp;<strong>Destination Maternity Corp.</strong> (Nasdaq:<a href="/ticker/dest">DEST</a>).

Cornerstone Therapeutics Inc (Nasdaq:CRTX), BJs Restaurants Inc (Nasdaq:BJRI) and Great Southern Bancorp Inc (Nasdaq:GSBC) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Small-cap stocks got hammered today as worries about the economy amid rising unemployment and fresh profit warnings in the technology sector sparked a wave of selling. Some of today’s small-cap gainers are InterOil (NYSE:IOC), ICT Group (Nasdaq: ICTG) and Synaptics Inc. (Nasdaq:SYNA).

Other Market Watch highlights today included:

• Decliners are leading advancers five to one on the Russell 2000.  
• President-elect Obama this morning said his stimulus plan will likely be at the high end of expectations, which helped pull stocks off the lows.  
• Intel issued a warning about revenue, which sent chills through the tech sector and kept concerns about the recession on the front burner.  
• Before the opening, the ADP National Employment Survey reported that 693,000 private sector jobs were lost in December, a record high for the survey which started in 2001.

Small Cap Gainers:

• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)  
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)  
• Synaptics Inc. is up 7.3% to $20.38 after news this morning of an upgrade by Lazard Capital. (See Nasdaq:SYNA)  
• Avocada company Calavo Growers, Inc. is up 6.6% to $12.51 after reporting record 4Q and FY2008 results before the opening. (See Nasdaq:CVGW)  

Small Cap Losers:

• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)  
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)  
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)

Small-cap stocks remained sharply lower into mid-session, but were up from the extreme morning lows. Losses were stirred by worries over the economy, a revenue warning from key tech player Intel Corp and news of a big fraud from a major Indian outsourcing firm.  Some of today’s small-cap gainers are InterOil (NYSE:IOC), ICT Group (Nasdaq:ICTG) 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:

• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)  
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)  
• 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:

• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)  
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)  
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)

There's no business like the shoe business, but can a designer shoe company
prosper even in recessionary times?

Investors could be asking that about Steve Madden Ltd. (Nasdaq:SHOO), which was up double digits for the year before Monday's market meltdown. After getting scuffed up, Steve Madden stock remains in positive territory for the year - it began 2008 trading around $20 - and is faring better than many small caps.

With a new CEO, some unsolicited offers apparently off the table and a 2.6-million-share buyback via Dutch auction completed, Long Island-based Steve Madden is moving headfirst toward the crucial holiday season.

According to a Thomson Reuters survey of six analysts who cover Steve Madden, five have the stock a "strong buy," with the other at "buy." Shares hit a 52-week high of $29 on Sept. 19, rebounding from a post-holiday low of $14.61 on Jan. 15. Steve Madden closed Thursday at $20.01.

Steve Madden stock was up nearly 14% this year before the recent market turbulence. The economy is a big question mark for the retail sector this upcoming holiday shopping season. Even the well-heeled who frequent Steve Madden's 100 or so stores are feeling the pinch.

Steve Madden standalone stores are mainly in metro areas, but its products are found at many retailers as well as online. Nearly three-quarters of 2007 sales came from its wholesale operations.

The Steve Madden lineup has expanded to include women's apparel and accessories, plus men's shoes. Higher-end products are sold through the company's . . .

Symyx Technologies Inc. (Nasdaq:SMMX), Steven Madden Ltd. (Nasdaq:SHOO) and Chardan 2008 China Acquisition Units (Nasdaq:CACAU) are among the new 52-week highs in Tuesday's trading among companies with market capitalizations under $1 billion.

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

Steven Madden, Ltd. (Nasdaq:SHOO) interim CEO Ed Rosenfeld said the apparel and shoe maker is encouraged by the response from consumer’s this year. Rosenfeld made the comments during a Thursday morning conference call.

“We are pleased with the product that is being turned out by Steve and our design teams,” Rosenfeld said. “We continue to position our business to achieve long-term growth.”

Rosenfeld said the firm’s distribution agreement in Asia is off to a “solid start this year.” The partner has opened new stores in Hong Kong and Tokyo and plans to open a new location in Beijing by the middle of June, he said.

“We continue to believe there is tremendous growth potential for our brand in this market, as well as other international markets,” Rosenfeld said.

The company also plans to open two new stores in Manhattan and expand its e-business, the interim chief executive said.

For 2008, Rosenfeld said Steven Madden is maintaining its full-year earnings guidance of between $1.55 and $1.65 per share, excluding one-time charges in the first quarter related to the former CEO’s resignation. Including the charge impact, Steven Madden expects 2008 earnings ranging from $1.39 to $1.49. The firm also expects sales . . .

The Russell 2000 (NYSE: IWM) opened with a large rise following news that Wal-Mart Stores, Inc. saw an increase in fourth-quarter profit.

At 10:09 a.m. ET, the small-cap index had added 4.93 points, or 0.70%, to 706.45. The Dow Jones Industrial Average (INDU) was up 109.41 points, or 0.89%, to 12,457.62.

Stocks small and large are posting large gains on news that Wal-Mart Stores, Inc. (NYSE: WMT) posted a 4% rise in fiscal fourth-quarter net income. The Bentonville, Ark.-based company had a profit of $4.1 billion, or $1.02 per share, meeting analysts’ projections and up from $3.94 billion, or $0.95 per share, a year earlier.

However, Wal-Mart, the world’s largest retailer, warned that U.S. consumers are becoming more cautious. The fourth-quarter profit rise was largely due to strong international sales.

Among the small-cap companies whose shares are moving up is Steven Madden, Ltd. (Nasdaq: SHOO). The footwear maker and retailer announced that soft consumer spending led operating income to fall to $7 million the fourth-quarter ended Dec. 31, compared with $16.7 million a year earlier.

However, helping shares rise is news that the company will offer to buy up to 2.6 million shares as part of a “Dutch Auction” tender offer for about $52 million.

Also moving up are shares of PharMerica Corp. (NYSE: PMC). The Louisville, Ky.-based pharmacy services company raised its fourth-quarter net income to $2.8 million from $1.9 million a year earlier.

The Russell 2000 (NYSE: IWM) futures have risen sharply and the small-cap index will likely open higher.

With no major economic releases scheduled for today, investors are focused on news from the corporate sector.

Bullish news came out of IT giant International Business Machines Corp. (NYSE: IBM), which reported better-than-expected preliminary quarterly results this morning. The Armonk, New York-based company said that it expects earnings from continuing operations for the quarter ended Dec. 31 to be $2.80 per share, above Wall Street’s consensus estimate of $2.60 per share.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• A.S.V., Inc. (ASVI), up 44% on news it is being purchased by Terex Corp. (TEX) for about $488 million.
• DRDGOLD Ltd. (DROOY), up 14%.
• Titan Machinery Inc. (TITN), up 10%.

Biggest percentage losers:

• AspenBio Pharma, Inc. (APPY), down 5%.
• Netscout Systems, Inc. (NTCT), down 3%.
• Steven Madden, Ltd. (SHOO), down 1%.

CyberSource Corp. (Nasdaq: CYBS), Authorize.Net Holdings, Inc. (Nasdaq: ANET) and LaserCard Corp. (Nasdaq: LCRD) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

The Russell 2000 (NYSE: IWM) is down steeply as the major U.S. indices are swimming in a sea of red following news of weak earnings.

At 10:34 a.m. ET, the small-cap index had lost 10.38 points, or 1.26%, to 814.65. The Dow Jones Industrial Average (INDU) was off 162.09 points, or 1.17%, to 13,726.87.

With little on the economic front, news of poor earnings from major corporate players is grabbing the headlines and spooking investors.

Charlotte, N.C.-based Wachovia Corp. (Nasdaq: WB), the fourth largest U.S. bank, reported before the opening that its third-quarter profit fell 10% due to difficult credit market conditions.

Net income stumbled to $1.69 billion, or $0.89 per share, compared with $1.88 billion, or $1.17 per share, a year earlier. Wall Street was looking for earnings of $1.03 per share. Wachovia said that it recorded a provision for credit losses of $408 million, about four times the level during the same three months of 2006.

In other disappointing news, heavy equipment maker Caterpillar Inc. (NYSE: CAT) announced a quarterly profit that missed analysts’ forecasts.

Shares of Steven Madden, Ltd. (Nasdaq: SHOO) spiked after the designer and marketer of fashion footwear said it will explore strategic options to “enhance shareholder value.”

Shares of Steven Madden (SHOO) gained $2.98, ot 15.13%, to $22.67 ahead of the opening. Shares of Steven Madden have been trading in the range of $17.10 to $44.70 for the past 52 weeks.

The Russell 2000 (NYSE: IWM) futures are flat but the small-cap index will probably be weighed down by news of poor earnings.

The bears will most likely overpower the bulls after the opening, following news that Wachovia Corp. (Nasdaq: WB), the fourth largest U.S. bank, reported a decline in its third-quarter profit. The Charlotte, N.C.-based bank attributed the shortfall to difficult credit market conditions.

In other disappointing news, heavy equipment maker Caterpillar Inc. (NYSE: CAT) announced a quarterly profit that missed analysts’ forecasts. Net income came to $1.40 per share, below the projected $1.42 per share.

That’s a sign of the slowdown in housing, as fewer builders are breaking ground on fewer new houses and have less need for Peoria, Ill.-based Caterpillar’s signature products.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Overstock.com Inc. (OSTK), up 15% on news of a narrower third-quarter loss.
• Steve Madden Ltd. (SHOO), up 14% on news of a possible sale.
• CyberSource Corp. (CYBS), up 14% on news of better-than-expected third-quarter results.

Biggest percentage losers:

• Nanophase Technologies (NANX), down 13% on news of a wider third-quarter loss.
• Center Bancorp Inc. (CNBC), down 2%.
• China Techfaith Wireless Communication Technology Ltd. (CNTF) down 2%.

Steven Madden, Ltd. (Nasdaq: SHOO), fashion designer of footwear and accessories for women, men and children, updated its guidance today for the third quarter and lowered its full year guidance.

For the third quarter, the small cap said it expects to book sales of approximately $113 million, compared with sales of $123.2 million in the third quarter last year. Six analysts polled by Thomson Financial are on average forecasting sales of $115.23 million.

The fashion house cited a challenging selling environment throughout the quarter on account of a lack of strong direction in footwear fashion trends as well as generally softer retail trends compared with last year, which the company said resulted in top line declines for both the wholesale and retail divisions.

CL King analyst Scott Krasik says the issues, for the most part, are secular in nature and not company specific. Despite a weakening macroeconomic environment, Krasik is maintaining a rating of “strong buy” on the stock.

“The stock price has declined more than 60% from its 52-week high while earnings guidance has decreased by less than 30%,” Krasik wrote in a research note.  “Steve Madden has transformed itself over the last two years into a better operator which gives us some confidence that when the current consumer environment and footwear cycle turn more positive, Steve Madden will benefit and show earnings growth.”

Krasik said the company executed extremely well in a weak sales atmosphere during the second quarter and ended the quarter with 18% less inventory year-over-year.

Steven Madden said it anticipates third quarter earnings in the range of between $0.40 and $0.42 per share, excluding a one-time gain of $0.13 per share from tax savings related to prior periods, partially offset by a one-time charge of $0.03 per share related to a provision for prior year customs duties. Eight analysts surveyed by Thomson Financial are on average anticipating earnings of $0.46 per share. Earnings for the third quarter of 2006 were $0.57 per share.