Tag - WCAA

If the state of the current market has you down in the dumps, look no further than waste management companies American Ecology Corp. (Nasdaq:ECOL) and Casella Waste Systems, Inc. (Nasdaq:CWST), market leaders in two of the best-performing segments – hazardous waste remediation and waste recycling.

Casella Waste Systems, Inc. is the nation’s 12th-largest waste management firm and considered one of the most forward-looking by many industry analysts. This vertically integrated, regional player provides waste collection, transfer, disposal and recycling services to residential and commercial customers across 14 states in the eastern United States. At FY 2008 year end, Casella’s operations consisted of 34 solid waste collection operations, 30 transfer stations, 11 disposal facilities, 38 recycling facilities and three landfill gas-to-energy facilities. The company also holds a 50% interest in a joint venture that manufactures and sells cellulose insulation made from recycled fiber, and has a 20% equity interest in a company that markets incentive-based recycling services to some 250 national and local customers.

Casella was one of the first waste management service providers to recognize an emerging industry trend favoring improved resource management and greater recycling. More than 150 million tons of material was recycled in the United States last year and recycling has become a $71 billion industry employing more than 50,000 workers nationwide. Casella currently derives more than 30% of revenues from recycling. In 2007, the company sold more than 400,000 tons of recycled paper and 15 million tons of recycled aluminum. 

Since 2003, Casella has invested over $200 million in developing strategically located landfill capacity with the goals of strengthening its market position and creating . . .

The Russell 2000 (NYSE: IWM) and the other major indices posted solid gains today on news that Citigroup Inc. (NYSE: C) received a cash injection of $7.5 billion. The small-cap index added 8.20 points, or 1.12%, to 743.27. The Dow Jones Industrial Average (INDU) rose 215 points, or 1.69%, to 12,958.44.

On a year-to-date basis, the Russell 2000 has shed 5.61%, while the Dow has added 3.88% and the S&P 500 has advanced 0.82%.

The futures were pointing up and stocks climbed out of the gate on news after the close on Monday that the Abu Dhabi Investment Authority has purchased a 4.9% stake in the largest U.S. bank for $7.5 billion.

The cash will help New York-based Citigroup better deal with billions of dollars in losses due to the purchase of securities backed by subprime mortgages. News came out on Monday that Citi, which suffered a loss in the third quarter, may have to slash as many as 45,000 workers from its payroll in an effort to return to profitability.

Today the bank was a bullish force on Wall Street, even though some analysts suggested that Citi may still need to raise more capital.

Stocks were rising steadily until 10 a.m. ET, when the Conference Board reported a larger-than-expected drop in consumer confidence for November.

The business organization said that its index of consumer confidence fell to 87.3 from a downwardly revised level of 95.2 in October. That’s the lowest reading since the aftermath of Hurricane Katrina in October 2005 and a sign that Americans are getting more tightfisted in the face of higher energy costs and declining home prices.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are posting solid gains despite news of worse-than-expected declines in consumer confidence and home prices. At 2:27 p.m. ET, the small-cap index was up 5.84 points, or 0.79%, to 740.91. The Dow had added 184.12 points, or 1.44%, to 12,927.56.

Stocks are bullish this afternoon as investors react to news after Monday’s close that Citigroup Inc. (NYSE: C) has sold 4.9% of itself to the Abu Dhabi Investment Authority for $7.5 billion. That’s the investment arm of the emirate of Abu Dhabi, one of the seven emirates in the United Arab Emirates.

News that the largest U.S. bank appears to be returning to solid ground after posting a loss in the third quarter unleashed the bulls. The cash infusion will help the bank get a better handle on billions of dollars on losses from subprime mortgages, which resulted in the recent departure of the CEO.

The bulls briefly slowed down and the Russell 2000 dipped into negative territory after 10 a.m. ET, when the Conference Board announced that its index of consumer confidence for November fell to a two-year low of 87.3 from a downwardly revised level of 95.2 in October. That’s the fourth consecutive drop and a sign that Americans are less willing to spend money.

That’s a problem for the economy because consumption comprises about 70% of gross domestic product. Most economists expect a slowdown in growth in the fourth quarter of 2007 and the first half of 2008, with some even forecasting a recession.

Investors looked saddened for a moment, but the mood didn’t last. The bears also failed to gain traction following a report that U.S. home prices fell 4.5% in the third quarter from a year earlier. That’s the steepest decline since the Standard & Poor’s Case-Shiller housing index was introduced in 1987.

AspenBio Pharma, Inc. (Nasdaq: APPY), Datawatch Corp. (Nasdaq: DWCH) and WCA Waste Corp. (Nasdaq: WCAA) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers: