Tag - ZLC

Stocks are fluctuating in Friday trading after investors looked past new unemployment data that showed unemployment jumped in March to its highest rate since 1983.

At 2:37 pm ET, the Russell 2000 (NYSE:IWM) is up 0.92% at 454.33, while the Dow is up 0.41% at 8,010.98 and the S&P 500 is up 0.79% at 841.

This morning oil prices rose above $53 a barrel, extending a rally fueled by market optimism that crude demand may rebound if the U.S. economic downturn bottoms out soon, while it was reported that U.S. banks that have received government aid are considering buying toxic assets to be sold by rivals under the Treasury's $1,000 billion plan to revive the financial system.

Small caps on the move today include Zale Corporation (NYSE:ZLC), which is up a whopping 51% after AM Best affirmed the jeweler’s financial strength rating.

******There's a lot going on today. The unemployment rate "surprisingly" hit 8.5%. President Obama knocked 'em dead at the G-20 meetings.

But the headline that caught my eye was "Bailed-out banks may buy toxic assets."
Believe it or not, Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and JP Morgan (NYSE:JPM), are considering using the Public-Private Investment Program to buy toxic assets from other banks, according to the Financial Times.

The Public-Private Investment Program is designed to encourage private investors to put money to work buying toxic assets from distressed banks. The Treasury and the Fed have offered loans to make the purchases less risky for the buyer. In essence, all a buyer has to do is put up a token amount of cash and the government will fund the rest. 
Yes, the plan reduces risk to the point that it's kind of like a free money giveaway - the taxpayer takes the risk, the subsidized investor makes the profit, assuming there is one. 

Personally, I'm not happy about the plan. But something has to be done to get the market for these toxic assets moving. Right now, there's a huge spread between the banks asking price and investors' bid. And nobody's budging. Throw in . . .

Today’s action started out under tremendous stress, with stock futures reeling overnight after Senate leaders rejected the $14 billion auto bailout bill, but the White House made it clear that they would throw a lifeline to drowning automakers, regardless. The news helped push stocks higher and the Russell 2000 (NYSE:IWM) eventually managed to end the day up 3.82%. Some of today’s small-cap gainers are Prologis (NYSE:PLD), Exelixis (Nasdaq:EXEL) and Macerich (NYSE:MAC).

Other Market Watch highlights today included:

• Retail sales this morning came out at minus 1.8%, which was in line with the forecast and perhaps not as bad as some of the “whisper” numbers ahead of the release.
• The PPI report came in at -2.2%, better than the forecast for a dip of 1.8%, which basically shows inflation isn’t an issue right now.
• Bernard Madoff, former Nasdaq chairman, was arrested and charged with running a fraudulent hedge fund that may have racked up $50B in losses. 
• On the auto front, the White House appears ready to throw a lifeline to cash-strapped firms via the TARP funds.
• Tech shares were a clear source of strength today, with large-cap tech firms setting the tone for a strong day in the arena.
• Crude oil was back in the tank, losing 3.5%, or $1.70 a barrel.
• Commodities were the poorest performers today, with coal, metals, agriculture products and oil exploration among the worst

Small Cap Gainers:

• Prologis (NYSE:PLD) jumped 43% as the distribution facilities manager basically recouped a similar loss from Thursday’s session. PLD has seen its stock crumble from the $60 range six months ago to just above $2 at the recent low . . .

Zale Corp. (Nasdaq:ZLC), Stanley Furniture Co Inc. (Nasdaq:STLY) and NBTY Inc. (Nasdaq:NTY) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Skillsoft ADR (Nasdaq:SKIL), Argan Inc. (Nasdaq:AGX), Stewardship Financial Corp. (Nasdaq:SSFN), Cadence Financial Corp. (Nasdaq:CADE), Babcock & Brown Air Ltd. (Nasdaq:FLY) and Williams Controls Inc. (Nasdaq:WMCO).

Zale Corp. (Nasdaq:ZLC), Dycom Industries Inc. (Nasdaq:DY) and Skillsoft ADR (Nasdaq:SKIL) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Haynes International Inc. (Nasdaq:HAYN), Titan International Inc. (Nasdaq:TWI), Mentor Graphics Corp. (Nasdaq:MENT), Pioneer Drilling Co. (Nasdaq:PDC), Redwood Trust Inc. (Nasdaq:RWT) and TreeHouse Foods Inc. (Nasdaq:THS).

Small-cap stocks pushed higher on the opening but slipped briefly into negative territory as optimism over a new government plan to open credit facilities for mortgage assets and “consumer” loan assets was countered by soft economic reports. The credit news helped the market strive to look past a predictably weak GDP report and a report that said home price declines posted a record decline from year-ago levels. Some of today’s small-cap gainers are Life Time Fitness Inc. (NYSE:LTM), Futures Canada China Environment Inc. (Nasdaq:FCCE) and Nuance Communications (Nasdaq:NUAN).

Other Market Watch highlights today included:

• Crude oil prices were off about $2 a barrel shortly after the stock market opening, absorbing a mild pullback off the big 9% surge Monday.  
• Treasury yields were taking a big downside hit even while the stock market was pointing toward a strongly higher open.  
• The Case-Shiller Home Price Index tumbled a record 17.4% from last year and the index was down 1.9% in September from the previous month.  
• The Fed and Treasury announced a new TAL, which will be granted initial funding of $20B via the original $700B in TARP money. 

Small Cap Gainers:

• Life Time Fitness Inc. rose 33%, gapping higher after plunging to 52-week lows Monday. See (NYSE:LTM).  
• Futures Canada China Environment Inc. jumped 33% on extremely light volume (only 1,000 shares). See (Nasdaq:FCCE).  
• Nuance Communications Q4 earnings beats Street view, shares up 12%. See (Nasdaq:NUAN).  
• Brinker International climbs over 10% after analyst upgrade company to "strong buy" froM "market perform." See (NYSE:EAT).

Small Cap Losers:

• Zale Corp. was down 25% as the jeweler reported a larger-than-expected loss. See (NYSE:ZLC). 
• SkillSoft dips 13% after guiding below fourth-quarter estimates. See (Nasdaq:SKIL).  
• Penson Worldwide down 9% on light volume in pre-market, following news it will expand its senior managment team. See (Nasdaq:PNSN).  
• United Natural Foods down 2% in pre-market after reporting a drop in Q1 profit. See (Nasdaq:UNFI).

Atlas Air Worldwide Holdings Inc. (Nasdaq:AAWW), Callon Petroleum Co. (Nasdaq:CPE) and Trina Solar Ltd. (Nasdaq:TSL) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: USG Corp. (Nasdaq:USG), Digital River Inc. (Nasdaq:DRIV), Zale Corp. (Nasdaq:ZLC), Danaos Corp. (Nasdaq:DAC), Emeritus Corp. (Nasdaq:ESC) and True Religion Apparel Inc. (Nasdaq:TRLG).

Media General Inc. (Nasdaq:MEG), First Financial Service Corp. (Nasdaq:FFKY) and BCB Bancorp Inc. (Nasdaq:BCBP) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: YRC Worldwide Inc. (Nasdaq:YRCW), Dorman Products Inc. (Nasdaq:DORM), Zale Corp. (Nasdaq:ZLC), Lululemon Athletica Inc. (Nasdaq:LULU), SI Financial Group Inc. (Nasdaq:SIFI) and Seabridge Gold Inc. (Nasdaq:SA).

Here are the biggest percentage losers among small caps:

Zale Corp. (Nasdaq:ZLC), SeaChange International Inc. (Nasdaq:SEAC) and Herley Industries Inc. (Nasdaq:HRLY) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FiberNet Telecom Group Inc. (Nasdaq:FTGX), DXP Enterprises Inc. (Nasdaq:DXPE), CryoLife Inc. (Nasdaq:CRY), Zep Inc. (Nasdaq:ZEP), Starrett LS Co. (Nasdaq:SCX) and Almost Family Inc. (Nasdaq:AFAM).

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

FirstFed Financial Corp. (Nasdaq:FED), Zale Corp. (Nasdaq:ZLC) and Origin Agritech Ltd. (Nasdaq:SEED) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Targanta Therapeutics Corp. (Nasdaq:TARG), Alexza Pharmaceuticals Inc. (Nasdaq:ALXA), US Airways Group Inc. (Nasdaq:LCC), Isramco Inc. (Nasdaq:ISRL), Midwest Banc Holdings Inc. (Nasdaq:MBHI) and MGIC Investment Corp. (Nasdaq:MTG).

Here are the biggest percentage gainers among small caps: