Tag - YDNT

Small-cap stocks extended the upward march much of the day Wednesday, lifted by tame consumer price inflation data this morning, which eased some concerns that the Federal Reserve’s tightening gun was coming out of the holster sooner than expected. However, the rally sputtered in the final hour of trading, and the Russell 2000 (NYSE:IWM) closed down 0.79, or 0.11%, at 736.07. On the face of things, it might not seem like a big deal to only lose 0.11%, but a lower close when making new five-month highs serves up a potential topping pattern on charts that raises a caution flag heading into action Thursday and Friday.

After yesterday’s glut of Fed speakers inundated the market, many traders came away with the interpretation that Federal Reserve policy makers were turning hawkish, preparing to fight inflation. However, this morning’s CPI reading was seen as a sign that inflation remains at bay — at least for now — which should buy the market some time before rate hikes become plausible. The CPI headline number came in at 0.2%, just below the 0.3% forecast, while the “core” reading, which excludes food and energy, was up 0.1%, also below the 0.2% projection.

While gains in large caps were fairly broad-based Wednesday from a sector perspective, homebuilder and retailer stocks appeared to be especially giddy about the prospect of delaying rate hikes down the road. The S&P Retail Index jumped about 1.6% on the day, with Macy’s Inc. (NYSE:M) rising about 4%. Among homebuilders, DR Horton Inc. (NYSE:DHI) was up over 2% and Lennar Corp. (NYSE:LEN) . . .

infoUSA Inc. (Nasdaq:IUSA), Young Innovations, Inc. (Nasdaq:YDNT) and Pharmaxis Ltd. (Nasdaq:PXSL) were among the new 52-week lows established during Wednesday's trading among companies with market capitalizations or values under $750 million.

First National Bancshares, Inc. (Nasdaq:FNSC), Meta Financial Group Inc. (Nasdaq:CASH) and Chordiant Software, Inc. (Nasdaq:CHRD) were also among the 52-week small-cap lows.

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

WSB Financial Group, Inc. (Nasdaq: WSFG), Hanmi Financial Corp. (Nasdaq: HAFC) and Wavecom S.A. (Nasdaq: WVCM) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

Specialty starch maker Penford Corp. (Nasdaq: PENX) announced its third-quarter profit more than doubled. The Centennial, Colo.-based company reported a $5 million profit, or $0.54 per share, for the third quarter ended May 31, compared with a $2 million profit, or $0.22 per share, in the same period of 2006.

Casual and golf apparel maker Hartmarx Corp. (NYSE: HMX) said its quarterly earnings rose 39% on a year-over-year basis, beating Wall Street projections. The Chicago-based company reported a $5.4 million profit, or $0.15 per share, compared with a profit of $3.9 million, or $0.10 per share, a year earlier.

Ceragon Networks Ltd. (Nasdaq: CRNT) reported that cell phone provider Digitel Mobile Philippines chose Ceragon for Digitel’s network expansion efforts. The Digitel order will bring Ceragon more than $2 million.

Hidary Group announced it increased its offer to acquire the legendary boxing and athletic equipment company Everlast Worldwide Inc. (Nasdaq: EVST) to $30.55 per share from $26.50 per share.

Miami-based Astar Air Cargo Holdings announced it has made an offer of $7.75 per share for ABX Air, Inc. (Nasdaq: ABXA). The offer is a 7% premium from Wednesday’s closing price.

Verenium Corp. (Nasdaq: VRNM) reported it is a member of a team that won a bid from the Department of Energy for a $125 million bioenergy research center.

These are the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $500 million: