Tag - VDSI

Celera Corp. (Nasdaq:CRA), iRobot Corp. (Nasdaq:IRBT) and NetGear Inc. (Nasdaq:NTGR) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American River Bankshares (Nasdaq:AMRB), Medicinova Inc. (Nasdaq:MNOV), Vasco Data Security International Inc. (Nasdaq:VDSI), MasTec Inc. (Nasdaq:MTZ), Whitney Holding Corp. (Nasdaq:WTNY) and Northeast Community Bancorp Inc. (Nasdaq:NECB).

LDK Solar Co Ltd. (Nasdaq:LDK), CryoLife Inc. (Nasdaq:CRY) and NutriSystem Inc. (Nasdaq:NTRI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NCI Building Systems Inc. (Nasdaq:NCS), Stewart Information Services Corp. (Nasdaq:STC), Vasco Data Security International Inc. (Nasdaq:VDSI), Wells Fargo Cap.(Nasdaq:WSF), Capital City Bank Group Inc. (Nasdaq:CCBG) and Trinity Industries Inc. (Nasdaq:TRN).

Small-cap stocks turned in their best performance of the New Year today, as investors decided that a dreary picture of the current economic environment would simply make it that much easier for incoming President-elect Obama to push through a big fiscal stimulus package. Some of today’s small-cap gainers are Michael Baker Corporation (NYSE:BKR), Repros Therapeutics (Nasdaq:RPRX) and China Sky One Medical (Nasdaq:CSKI).

Other Market Watch highlights today included:

• Advancers are leading decliners on the Russell 2000 by more than three to one.
• Worst performers: food retailers, brewers, chemical companies, finance firms, biotechs and footwear firms.  
• Homebuilder, energy and retailer stocks were solid performers so far today, and surprisingly, airline stocks were doing well despite a rise to five-week highs in crude oil prices.  
• Small-cap stocks remained higher into midday trading.  

Other Market Watch highlights today included:

• Worst performers: food retailers, brewers, chemical companies, finance firms, biotechs and footwear firms.  
• Homebuilder, energy and retailer stocks were solid performers so far today, and surprisingly, airline stocks were doing well despite a rise to five-week highs in crude oil prices.  
• Small-cap stocks remained higher into midday trading.  
• Advancers are leading decliners on the Russell 2000 by 1,402 to 372. 
 

Small Cap Gainers:

• New 52-wk highs: Michael Baker Corporation, Repros Therapeutics, China Sky One Medical, Transmeta Corporation and Amerisafe, Inc. (See NYSE:BKR, Nasdaq:RPRX, Nasdaq:CSKI, Nasdaq:TMTA, Nasdaq:AMSF)  
• Home-nursing company Amedisys Inc. is up 16.4% to $46.93 after issuing FY09 guidance above concensus. (See Nasdaq:AMED)  

Small Cap Losers:

• LSI Industries is down 14% to $6.03 after lowering FY09 earnings and sales guidance below consensus. (See Nasdaq:LYTS)  
• VASCO Data Security International Inc. is 12% lower at $9.10 in pre-market trading after issuing downward guidance for FY2008. (See Nasdaq:VDSI) 
• Vignette Corporation is down 8.8% to $8.24 after issuing preliminary Q4 2008 results late Monday. (See Nasdaq:VIGN) 

Small-cap stocks remained higher into midday trading, surviving a choppy response to economic data this morning that served up better-than-expected numbers on services sector activity, but slumping factory orders and sinking pending home sales. Some of today’s small-cap gainers are Michael Baker Corporation (NYSE:BKR), Repros Therapeutics (Nasdaq:RPRX) and China Sky One Medical (Nasdaq:CSKI).

Other Market Watch highlights today included:

• Worst performers: food retailers, brewers, chemical companies, finance firms, biotechs and footwear firms.  
• Homebuilder, energy and retailer stocks were solid performers so far today, and surprisingly, airline stocks were doing well despite a rise to five-week highs in crude oil prices.  
• Small-cap stocks remained higher into midday trading.  
• Advancers are leading decliners on the Russell 2000 by 1,402 to 372. 
 

Small Cap Gainers:

• New 52-wk highs: Michael Baker Corporation, Repros Therapeutics, China Sky One Medical, Transmeta Corporation and Amerisafe, Inc. (See NYSE:BKR, Nasdaq:RPRX, Nasdaq:CSKI, Nasdaq:TMTA, Nasdaq:AMSF)  
• Home-nursing company Amedisys Inc. is up 16.4% to $46.93 after issuing FY09 guidance above concensus. (See Nasdaq:AMED)  

Small Cap Losers:

• LSI Industries is down 14% to $6.03 after lowering FY09 earnings and sales guidance below consensus. (See Nasdaq:LYTS)  
• VASCO Data Security International Inc. is 12% lower at $9.10 in pre-market trading after issuing downward guidance for FY2008. (See Nasdaq:VDSI) 
• Vignette Corporation is down 8.8% to $8.24 after issuing preliminary Q4 2008 results late Monday. (See Nasdaq:VIGN)  

Small-cap stocks pulled higher this morning and remained in positive ground after a mixed batch of economic reports buffeted the market. A firm tone in energy stocks, momentum from overseas gains and optimism about upcoming stimulus plans provided a lift. Some of today’s small-cap gainers are Michael Baker Corporation (NYSE:BKR), Repros Therapeutics (Nasdaq:RPRX) and China Sky One Medical (Nasdaq:CSKI).

Other Market Watch highlights today included:

• Advancers are leading decliners on the Russell 2000 by 1,402 to 372.  
• Looking at the chart picture for small-caps, the market remains in an upward consolidation mode.  
• Pending home sales were also sour, sinking 4.0% versus the consensus for a decline of 1.0%.  
• Factory orders tumbled 4.6%, much worse than the projection for a decline of 2.5%.  
• The ISM Non-Manufacturing Survey came in at 40.6, which was better than the forecast of 37.0 and a nice bounce off record lows from the previous reading.  

Small Cap Gainers:

• New 52-wk highs: Michael Baker Corporation, Repros Therapeutics, China Sky One Medical, Transmeta Corporation and Amerisafe, Inc. (See NYSE:BKR, Nasdaq:RPRX, Nasdaq:CSKI, Nasdaq:TMTA, Nasdaq:AMSF)  
• Home-nursing company Amedisys Inc. is up 16.4% to $46.93 after issuing FY09 guidance above concensus. (See Nasdaq:AMED)  

Small Cap Losers:

• LSI Industries is down 14% to $6.03 after lowering FY09 earnings and sales guidance below consensus. (See Nasdaq:LYTS)  
• VASCO Data Security International Inc. is 12% lower at $9.10 in pre-market trading after issuing downward guidance for FY2008. (See Nasdaq:VDSI) 
• Vignette Corporation is down 8.8% to $8.24 after issuing preliminary Q4 2008 results late Monday. (See Nasdaq:VIGN)  

Small-cap stocks pulled higher this morning and remained in positive ground after a mixed batch of economic reports buffeted the market. A firm tone in energy stocks, momentum from overseas gains and optimism about upcoming stimulus plans provided a lift. At 10:04 a.m. ET, the Russell 2000 (NYSE:IWM) was up 8.51, or 1.68% at 513.54.

The ISM Non-Manufacturing Survey came in at 40.6, which was better than the forecast of 37.0 and a nice bounce off record lows from the previous reading. Still, this number is low historically and consistent with recession. Although the ISM reading was positive relative to expectations, the same can’t be said for factory orders, which tumbled 4.6%, much worse than the projection for a decline of 2.5%. Completing the early data trifecta, pending home sales were also sour, sinking 4.0% versus the consensus for a decline of 1.0%. Now that this rush of economic data is out of the way, the market should be free to focus on other factors before this afternoon’s 2:00 p.m. ET release of FOMC minutes.

Crude oil prices pulled back above $50 dollars a barrel for the first time in some ...

Small caps dove again at closing, careening 2.4%. Small-cap stocks were especially punished today relative to the broad market and for the first time in months the Dow officially replaced the Russell 2000 (NYSE:IWM) as a better performing index for 2008. Today’s small-cap gainers are Amerigroup (NYSE:AGP), Vasco Data Security (Nasdaq:VDSI) and Eagle Bancorp (Nasdaq:EGBN).

Other Market Watch highlights today include:

• The Russell is down 36% for the year, while the Dow is off 34% and the S&P 500 is down 38%.
• It should be noted that the market staged an impressive recovery move off the lows late in the session.
• AIG CEO Edward Liddy said that the $112.8 billion bailout by the government “may not be enough” and the firm may need to tap into additional capital.
• Financial stocks, homebuilders, airlines and retailers took a hit on Thursday.
• The ISE Homebuilders Index was down 9% following a study by RealtyTrac this morning saying that foreclosures were up 21% from September 2007 and up a jarring 71% from the third-quarter of last year. 
• Energy stocks were a source of solid support today for equities, underpinned by a $1-a-barrel bounce in crude oil prices ahead of this week’s OPEC meeting in Vienna.

Small Cap Gainers:

• Amerigroup up 15% after health insurer reported a 26% increase in Q3 earnings on strong revenues. See (NYSE:AGP). 
• Vasco Data Security International Inc. gapped higher and rallied some 28% as quarterly revenue and income set records for the firm. See (Nasdaq:VDSI).
• Eagle Bancorp posts 17% increase in net, earnings beat sole analyst . . .

Small-cap stocks remained in a tailspin Thursday, pulled down by sloppy earnings, recession fears, persistent talk of rampant redemptions and sinking financial shares. The Russell 2000 (NYSE:IWM) closed down 12.05, or 2.40%, at 489.92, which marked the lowest daily close since September 2003. Small-cap stocks were especially punished today relative to the broad market and for the first time in months the Dow officially replaced the Russell 2000 as a better performing index for 2008. The Russell is down 36% for the year, while the Dow is off 34% and the S&P 500 is down 38%. As investors flee equities for cash, their appetite for riskier small-cap fare has fallen off the table amid a mentality that only the biggest and strongest firms are in a position to weather this downturn.

Now that we’ve got all the gloom out of the way, it should be noted that the market staged an impressive recovery move off the lows late in the session. The Dow actually rallied 2% today, and even though the Russell was down more than 2%, it was still more than 4% above the intraday low. More importantly, the strong rally off that intraday low left a potential double bottom on daily charts with the Oct. 10 bear market trough. If the market rallies away from this quickly, then it would provide an important successful test of the lows and would be one of the better bottoming signals we’ve seen on the charts.

Now, back to the sour news from today: American International Group (NYSE:AIG) CEO Edward Liddy said that the $112.8 billion bailout by the government “may not be enough” and the firm may need to tap into additional capital, which sent a collective groan through the financial markets.

The big negative elements in play today were the AIG comments, more talk of forced liquidation amid heavy redemptions, particularly in the leveraged loan market, Nick Kalivas, vice president of financial research with MF Global, said in an email interview. Kalivas also noted that commercial paper market was “plugged” and that earnings are lackluster as companies admit business isn’t going to get better any . . .

Small-cap stocks flashed some surprising upside muscle on the opening, but the initial support from bargain hunting was quickly countered by selling stirred by worries over the sluggish economy, a troubling jobs outlook and sloppy earnings numbers. Today’s small-cap gainers are VASCO Data Security International (Nasdaq:VDSI), F5 Networks (Nasdaq:FFIV) and inSim Technology (Nasdaq:WVCM).

Other Market Watch highlights today include:

• Crude oil prices turned up about $1 a barrel awaiting news from the OPEC meeting, where oil ministers are expected to slash production to offset sinking prices and soft demand.  
• The U.S. dollar was on firm footing this morning, which should continue to exert pressure on many commodities markets.  
• RealtyTrac estimated that 1 in every 475 homes received a foreclosure filing in September.  
• RealtyTrac released a report early this morning saying that foreclosures were up 21% from September 2007 and up a whopping 71% from the third-quarter of last year.
• Most analysts are predicting a sharp rise in unemployment levels in coming months. Greenspan said earlier today that there will be a significant rise in layoffs and unemployment still to come.

Small Cap Gainers:

• VASCO Data Security International surges 30% after reporting third-quarter results that topped Wall Street by a large margin. (Nasdaq:VDSI).  
• F5 Networks up 12% after fiscal fourth-quarter earnings beat the Street. See (Nasdaq:FFIV).  
• inSIM Technology said it will ensure reliable cellular connections for machine-to-machine devices in Brazil. See (Nasdaq:WVCM).  
• GSI Commerce gains after posting a third-quarter net loss that was narrower than expected. See (Nasdaq:GSIC).  

Small Cap Losers:

• Braskem SA tumbled 23% on light volume, as the Brazilian petrochemical company joined other Latin American ADRs in the recent tailspin. See (NYSE:BAK).  
• Phoenix Technologies Ltd. gapped lower and was down some 27% as the systems software firm released unimpressive quarterly results. See (Nasdaq:PTEC).  
• Exelixis said GlaxoSmithKline will not exercise its option to license XL184, which inhibits tumor growth drivers. See (Nasdaq:EXEL).
• Ticketing company Ticketmaster said it would acquire a controlling equity interest in Front Line Management Group. See (Nasdaq:TKTM).  

Small-cap stocks flashed some surprising upside muscle on the opening, but the initial support from bargain hunting was quickly countered by selling stirred by worries over the sluggish economy, a troubling jobs outlook and sloppy earnings numbers. The Russell 2000 (NYSE:IWM) was down 5.88, or 1.17%, at 496.08, slipping back below the 500 line, which opens the door to further chart-related selling if that mark now becomes resistance.

The weekly unemployment claims report came in above the forecast at 478,000, topping the projection by 13,000. The Labor Department said that claims were boosted some 12,000 by Hurricane Ike and that the number of continuing claims dipped slightly in the latest week. However, weekly claims, the four-week moving average and continuing claims are all hovering near multi-year highs that are consistent with a recession.

Most analysts are predicting a sharp rise in unemployment levels in coming months, and former Federal Reserve Chairman Alan Greenspan said earlier today that there will be a significant rise in layoffs and unemployment still to come. Greenspan is testifying today before a House oversight committee on the role of regulators. He also said that stabilization in home prices is still far away.

Speaking of the housing issue, RealtyTrac released a report early this morning saying that foreclosures were up 21% from September 2007 and up a whopping 71% from the third quarter of last year. They estimated that 1 in every 475 homes . . .

Crocs Inc (Nasdaq:CROX), UAL Corp (Nasdaq:UAUA) and Affymetrix Inc (Nasdaq:AFFX) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc (Nasdaq:CSIQ), Netlogic Microsystems Inc (Nasdaq:NETL), Epicor Software Corp (Nasdaq:EPIC), Vasco Data Security International Inc (Nasdaq:VDSI), Ultratech Inc (Nasdaq:UTEK) and Morgans Hotel Group Co (Nasdaq:MHGC).

Here are the most actively traded companies among small caps:

Information security provider VASCO Data Security International Inc. (Nasdaq:VDSI) has gained 16% in today’s trading after announcing a better-than-expected second quarter ahead of today’s opening. For the quarter ended June 30, revenues were $35.4 million, up from $32.4 million in the same quarter a year earlier. Net income for the second quarter was $7.5 million, or $0.20 per share, up from $6.9 million, or $0.18 per share, during the same period a year ago. Analysts were expecting earnings per share of $0.15 on revenues of $34.2 million.

In today’s trading, shares of Oakbrook Terrace, Ill.-based VASCO are at $13.34 at 1:36 p.m. ET, up $1.86 from Wednesday’s close.

Cirrus Logic Inc (Nasdaq:CRUS), Vital Signs Inc (Nasdaq:VITL) and GSI Commerce  (Nasdaq:GSIC) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Penson Worldwide Inc (Nasdaq:PNSN), Vasco Data Security International Inc (Nasdaq:VDSI), Monro Muffler Brake Inc (Nasdaq:MNRO), Digi International Inc (Nasdaq:DGII), Sonesta International Hotels Corp (Nasdaq:SNSTA) and Greene County Bancorp (Nasdaq:GCBC).

Here are the biggest percentage gainers among small caps:

Quest Resource Corp (Nasdaq:QRCP), Boston Pri Finl Holdings (Nasdaq:BPFH) and Vasco Data Security International Inc (Nasdaq:VDSI) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: TASER International Inc (Nasdaq:TASR), Vital Signs Inc (Nasdaq:VITL), HireRight Inc (Nasdaq:HIRE), SIERRA WIRELESS INC (Nasdaq:SWIR), MKS Instruments Inc (Nasdaq:MKSI) and Crocs Inc (Nasdaq:CROX).

Here are the most actively traded companies among small caps:

Synchronoss Technologies Inc (Nasdaq:SNCR), Rubicon Technology Inc (Nasdaq:RBCN) and United Online Inc (Nasdaq:UNTD) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $750 million.

Vanda Pharmaceuticals Inc (Nasdaq:VNDA), Vasco Data Security International Inc (Nasdaq:VDSI) and Gulfport Energy Corp (Nasdaq:GPOR) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Horizon Lines, Inc. (NYSE:HRZ), Preferred Bank (Nasdaq:PFBC) and NetGear, Inc. (Nasdaq:NTGR) were among the new 52-week lows established during Friday's trading among companies with market capitalizations or values under $750 million.

Trailer Bridge, Inc. (Nasdaq:TRBR), VASCO Data Security International, Inc. (Nasdaq:VDSI) and Citizens Holding Co. (Nasdaq:CIZN) were also among the 52-week small-cap lows.

Here are today's 52-week small-cap lows:

Small-cap stocks pushed higher Thursday, with the Russell 2000 (NYSE:IWM) climbing 8.96, or 1.27%, to 717.07. Small caps assumed leadership among equity index products on the rise, fueled by a bounce in the U.S. dollar and a drop in crude oil prices. Financial stocks and insurers provided a significant lift to equities big and small, with Merrill Lynch (NYSE:MER) jumping nearly 8% as the company raised its dividend, and insurance giant Travelers (NYSE:TRV) climbing 5% as the company upgraded its 2008 outlook.

Commodities took a tumble today, which may have eased some of the food and energy fears that have weighed on investor psyche and made headlines in national and international media. Just two days after a USA Today poll said that rising food costs were a major concern for a majority of consumers, news hit around the country of rice being rationed at grocery stores because of shortages. However, the Commodity Research Bureau Index tumbled 1.6% today, which may have provided a lift to stocks, especially since crude oil came off about $3 per barrel from its lofty perch.

Investors also appeared to breathe a sigh of relief about the economic outlook when weekly claims came out at 342,000, much better than the forecast of 375,000. Even though durable goods orders were relatively soft and the New Home Sales report was awful, market focus seemed to settle in on the claims data as a bright enough spot to counter the other economic news. As it stands, the durables data tends to fluctuate quite a bit month-to-month, and everyone already knows that the housing market is floundering. The only data of note Friday morning comes from the Michigan . . .

AmericanWest Bancorp. (Nasdaq:AWBC), Monarch Casino & Resort, Inc. (Nasdaq:MCRI) and Vasco Data Security International, Inc. (Nasdaq:VDSI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

L.B. Foster Co. (Nasdaq:FSTR), Taser International, Inc. (Nasdaq:TASR) and Barrett Business Services, Inc. (Nasdaq:BBSI) are also among the top small-cap percentage losers.

Here are Thursday's biggest percentage losers among small caps:

Stocks managed to climb higher midday after seeing a sell off earlier in the session, as investors digested a slew of economic data and mixed earnings reports.

At 12:45 p.m. ET, the Russell 2000 (NYSE:IWM) had gained 8.44, or 1.19%, at 716.55, while the Dow surged 135.07, or 1.06%, to 12,898.29.

At 10 a.m. ET, the Census Bureau reported new homes sales in March plummeted to an annual rate of 526,000, the lowest level in 16.5 years, sending stocks cascading lower this morning. Sales were below the 585,000 that economists were forecasting and represented a 36.6% plunge from the March 2007 level of 830,000, and a 8.5% slide below the revised February rate of 575,000.

In keeping with the downbeat economic news, durable goods orders for the month of March declined for the third consecutive month, decreasing $0.7 billion or 0.3% to $212.2 billion, the U.S. Census Bureau said this morning. This is the longest succession of decreases since the last recession in 2001.

In contrast, applications for unemployment benefits fell by 33,000 to 342,000 for the week ended April 19, the Census Bureau also reported this morning. It should be noted that the weekly claims figures are often volatile, and even though today’s headline number was better than the forecast, the claims numbers still point to extensive layoffs and a rise in the unemployment rate.

Small-cap shares pushed lower early Thursday, unable to sustain a mild opening bump when weekly claims numbers came in better than expected. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 6.46, or 0.91%, at 701.65.

The New Home Sales report, which came out at 10:00 a.m. ET were weak, which was no surprise, and took some of the supportive edge off the weekly claims data. New home sales were at an annual rate of 526,000 last month, which was below the forecast of 585,000, and was the lowest rate since October 1991.

It should be noted that durable goods orders, which also came out ahead of the opening this morning, were softer than expected. In addition, the weekly claims figures are often volatile, and even though today’s headline number was better than the forecast, the claims numbers still point to extensive layoffs and a rise in the unemployment rate.

Even though the market was able to sink its teeth into some fresh economic data this morning for the first time since Tuesday, the focus point remains fixed on earnings, which served up mixed signals into today’s action.

Among large-cap headline companies, Starbucks Corp. (Nasdaq:SBUX) missed the forecast and was pummeled early today, trading down 10% just after the cash U.S. opening. In addition, Amazon.com Inc. (Nasdaq:AMZN) had sloppy results and was down 4% early today. On the upside, Ford Motor Co. (NYSE:F) had a surprising . . .

Cardiome Pharma Corp. (Nasdaq: CRME), VASCO Data Security International Inc. (Nasdaq: VDSI) and A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) are among the most actively traded companies in Monday's pre-market trading among those with market capitalizations under $750 million.

Here are the most actively traded small-cap companies in Monday's pre-market trading:

The Russell 2000 (NYSE: IWM) lost more than the other major U.S. indices as news of disappointing economic reports spread recession fears. The small-cap index declined 13.74 points, or 1.94%, to 696.28. The Dow Jones Industrial Average (INDU) fell 142.96 points, or 1.15%, to 12,284.30.

On a year-to-date basis, the Russell 2000 has declined 9.11%, while the Dow is down 7.39% and the S&P 500 has retreated 8.57%.

Small-cap stocks erased early gains and declined sharply as investors focused on news of a weak economy.

The U.S. Labor Department reported that jobless claims for the week ended Feb. 16 fell 9,000 to 349,000 from the preceding week’s upwardly revised total of 358,000.

Economists were expecting a rise to 349,000 from an originally reported 348,000.

However, the more stable four-week measure increased 10,750 to 360,500, the highest average in more than two years.

“The jobless claims number is consistent with a softening labor market,” said Arun Raha, vice president of Economic Research and Consulting for the North American operations of reinsurance company Swiss Re, in an email. “Firms have moved from not hiring to laying off workers.”

The Russell 2000 (NYSE: IWM) has shed its earlier gains on news of poor regional manufacturing data.

At 11:38 a.m. ET, the small-cap index was up 0.21 points, or 0.03%, to 710.23. The Dow Jones Industrial Average (INDU) had lost 13.92 points, or 0.11%, to 12,413.34.

Small-cap stocks erased all of their earlier gains and slipped into the red shortly before 11 a.m. ET, following news that the Philadelphia Federal Reserve’s regional index of manufacturing conditions fell to -24 in February from a reading of -20.9 in January.

Economists were expecting to see a slight increase from the level in January, which was the lowest reading since 2001. A reading above zero indicates an expansion.

Companies reported that the price inputs increased while general activity, shipments and new orders remained negative.

The future general activity index turned sharply negative, declining to -16.9 from 5.2 in January.

The numbers once again raised fears of an economic recession.

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will probably open with a gain.

The bulls are poised for action on news that networking products maker and tech sector heavyweight Cisco Systems Inc. (Nasdaq: CSCO) received an analyst upgrade.

In economic news, the U.S. Labor Department reported that jobless claims for the week ended Feb. 16 fell 9,000 to 349,000 from the preceding week’s upwardly revised total of 358,000.

Economists were expecting a rise to 349,000 from an originally reported 348,000.

The Russell 2000 posted an impressive recovery rally off the morning slide Wednesday, notching a bullish reversal on daily chart patterns in the process. The index finished up 7.68, or 1.09% at 710.02. If the market can sustain upward momentum today, resistance comes in just overhead at 712, then at 721 and 731. Meanwhile, support is at 695, 688 and 680.

It will be interesting to see if the market can once again rise after morning economic data, as traders will have to navigate Leading Indicators and Philly Fed releases at 10:00 a.m. ET.  

The Russell 2000 (NYSE: IWM) futures are a whisker above the index’s closing level on Friday and small-cap stocks are set for a flat holiday opening.

News of corporate deal-making is grabbing the headlines this morning, as International Business Machines Corp. (NYSE: IBM) announced that it will buy Cognos Inc. (TSE: CSN), a maker of business intelligence software, for $5 billion.

Meanwhile, online broker E*Trade Financial Corp. (Nasdaq: ETFC) was downgraded by Citigroup Inc. (NYSE: C) and the possibility of bankruptcy was raised.

No major economic indicators are scheduled for release today and trading volume promises to be light as Americans observe Veterans Day.

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:

• Shengdatech Inc. (SDTH), up 9% on news of a rise in third-quarter profit.
• VASCO Data Security International Inc. (VDSI), up 8% on news it is expanding its product offerings.
• Internet Initiative Japan Inc. (IIJI), up 7% on news of a rise in fiscal second-quarter profit.

Biggest percentage losers:

• Perceptron Inc. (PRCP), down 42%.
• General Communication Inc. (GNCMA) down 8%.
• GPC Biotech AG (GPCB) down 8%.

ShengdaTech, Inc. (Nasdaq: SDTH), Ascent Solar Technologies, Inc. (Nasdaq: ASTI) and GPC Biotech AG (Nasdaq: GPCB) are among the most actively traded companies in Monday pre-market trading among those with market capitalizations under $750 million: