Tag - ZONS

TechTeam Global Inc. (Nasdaq:TEAM), Lacrosse Footwear Inc. (Nasdaq:BOOT) and Chiquita Brands International Inc. (Nasdaq:CQB) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dynamics Research Corp. (Nasdaq:DRCO), MSB Financial Corp. (Nasdaq:MSBF), Isramco Inc. (Nasdaq:ISRL), Santa Monica Media Units (Nasdaq:MEJ.U), The9 Ltd. (Nasdaq:NCTY) and Zones Inc. (Nasdaq:ZONS).

Small-cap stocks vacillated back and forth in positive and negative territory into the midday time frame, with support from a pocket of upbeat earnings, an optimistic outlook from major PC-maker Hewlett-Packard and strong energy shares countering a soft tone in financials, tech stocks and ongoing concerns about the fragile global economy.  Today’s small-cap gainers are DHT Maritime Inc. (NYSE:DHT), Tetra Technologies Inc. (NYSE:TTI) and Zones, Inc. (Nasdaq:ZONS). 

Other Market Watch highlights today included:

• The slip back below 450 raised caution flags for the Russell going into the afternoon, especially with all these wild last hour moves we’ve been seeing in stocks lately.
•  JP Morgan: Commodity prices – especially agriculture products – should outperform energy and industrial raw material products in 2009.
• The Energy Select Sector SPDR Fund was up more than 2% at mid-session.  
• Energy stocks were among the best performers so far today as crude oil prices reversed overnight losses.

Small Cap Gainers:

• DHT Maritime Inc., a tanker ship operator, jumped 17% after releasing earnings numbers today. See (NYSE:DHT).  
• Tetra Technologies Inc. jumped 15% as the oil and gas services company tries to mount a comeback after sinking to fresh lows last week. See (NYSE:TTI).  
• Reseller of IT products Zones, Inc. up 8.3% after announcing merger agreement with Zones Acquisition Corp. See (Nasdaq:ZONS).
• Two Warren Resources executives buy 65,000 shares late last week; shares are up over 7% today. See (Nasdaq:WRES).  

Small Cap Losers:

• Saks slides to loss in Q3 on weak margins, charges; shares dive 24%. See (NYSE:SKS).
• Las Vegas Sands Corp. slumped 16% as the embattled casino operator hovers near record lows even though auditors recently removed doubts about the firm maintaining as a “going concern.” See (NYSE:LVS).  
• Central Vermont Public Services Corp. is down 10% following news it would announce a public stock offering. See (NYSE:CV).  
• W.R. Grace & Co. continues to slide today, making a new 52-week low of $3.30 from a 52-week high of $30. Last week the company was considering a bankruptcy reorganization plan. See (NYSE:GRA).  

Cooper Tire & Rubber Co. (Nasdaq:CTB), Zones Inc. (Nasdaq:ZONS) and FirstFed Financial Corp. (Nasdaq:FED) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AMAG Pharmaceuticals Inc. (Nasdaq:AMAG), Meritage Homes Corp. (Nasdaq:MTH), Macquarie Infrastructure Co LLC (Nasdaq:MIC), Stage Stores Inc. (Nasdaq:SSI), Magal Security Systems (Nasdaq:MAGS) and PHH Corp. (Nasdaq:PHH).

Here are the biggest percentage losers among small caps:

Small-cap stocks tried in vain to dodge some serious data land-mines Thursday as investors anxiously await the big data bomb released with Friday morning’s employment report. Amid choppy seas, the Russell 2000 (NYSE:IWM) eventually finished down 4.34, or 0.60%, at 714.52, unable to shrug off dreadful unemployment claims, soft GDP numbers and a cautious tone from former Federal Reserve Chairman Alan Greenspan.

Day traders looking for a definitive direction in small caps today may have gotten a little seasick as the market see-sawed up and down, carried on the whims of economic data crunchers. The opening salvo (and the most dynamic move of the day) was a bearish tilt as weekly unemployment claims went through the roof. Although the survey period for Friday’s monthly jobs report was over before this week’s claims survey, it’s not exactly reassuring to see unemployment numbers spike way beyond expectations.

Just how bad was the claims report? The number came in at 448,000, swamping the forecast for a dip to 395,000 following last week’s already uncomfortably big 404,000 figure. To give it a little better perspective: it was the largest one-week claims figure for any week, of any month, in more than five years. If nothing else, the weekly claims report certainly shot more holes in Wednesday’s ADP employment report, which forecast job growth, nevermind recent reports of layoffs in financial and . . .

It’s been a rollercoaster ride thus far for small caps, most recently trending deeper into the red along with the S&P 500 and the Dow after a gloomy weekly unemployment claims report and a weaker-than-expected read on GDP dragged equities lower. 

At 12:46 p.m. ET, the Russell 2000 (NYSE:IWM) was down 3.44, or 0.48%, at 715.42, while the Dow down 0.98%, or 113.01, at 11,470.68.

The weekly claims number, reported this morning, spiked more-than-expected to 448,000 from last week’s 404,000 level. The claims number, which was substantially above the median forecast of a decline to 395,000, was pushed higher by an emergency unemployment program. The number was the single largest weekly claims figure in more than five years. Although this survey was taken after the numbers were collected for Friday’s monthly employment release, it has heightened jitters ahead of the Labor Department’s release tomorrow. 

The second-quarter number for GDP, also out this morning, wasn’t comforting either. The nation’s domestic growth clocked in at 1.9% for the second quarter, below the forecast of 2.3%. Additionally, GDP for the past 3 years was revised downward. Fourth quarter GDP was reduced to minus 0.2%, the first decline in quarterly GDP since 2001.

"The revisions were ugly and will fuel the recession debate," Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. "Today's numbers were a big disappointment and will rev up the doom-gloom crowd to call for the end of the world. July was brutal. Let's hope we can focus on the Olympics -- I'm still expecting/hoping to see a stabilization occur in August without the massive swings July presented."

Although the weak GDP number and claims took the limelight today, there was some hopeful economic news in the abyss. The Chicago Purchasing Managers report came in stronger than expected. PMI was 50.8, above the forecast of 49 and above 50 for the first time since January.

For the first time in awhile, gyrations in crude oil prices were not the focal point. Crude sold off this morning, after spiking over $4 Wednesday, and continues to tread in the red. A barrel of light sweet crude slipped $2.40 to roughly $124 mid-session.

The economic reports managed to smother uplifting merger and acquisitions news. Bristol-Myers Squibb Co. (NYSE:BMY) made a bid to acquire ImClone Systems Inc. (Nasdaq:IMCL) ...

Cadence Pharmaceuticals Inc (Nasdaq:CADX), Zones Inc (Nasdaq:ZONS) and PharmaNet Development Group Inc (Nasdaq:PDGI) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Famous Daves of America Inc (Nasdaq:DAVE), MasTec Inc (Nasdaq:MTZ), Richardson Electronics (Nasdaq:RELL), LHC Group Inc (Nasdaq:LHCG), iStar Financial (Nasdaq:SFI) and Dawson Geophysical Co (Nasdaq:DWSN).

Here are the biggest percentage gainers among small caps:

Small-cap stocks mounted a valiant comeback push after sinking 1% shortly after the opening, as tech stocks pushed higher, Chicago PMI beat the forecast and merger deals helped offset gloom tied to terrible weekly unemployment claims. At 10:00 a.m. ET, the Russell 2000 (NYSE:IWM) was down 3.25, or 0.45%, at 715.62. The tech-laden Nasdaq 100 was up 0.3%.

The weekly claims number came in at 448,000, far beyond the median forecast of 395,000, and a big jump from last week’s 404,000 number. How bad was this number? It was the single largest weekly claims figure in more than five years. Even though this survey was taken after the numbers were collected for Friday’s monthly employment release, it certainly won’t raise investor confidence about the labor market ahead of that release. It also will call into question some of the rise powered by Wednesday’s ADP employment report. The claims numbers were boosted by an emergency unemployment program, but even allowing for some data quirks, it’s a sobering report that does not paint a rosy picture of the labor market right now.

Most people came in to today’s session expecting the GDP report to claim top billing on the data slate, but economic growth was clearly upstaged by the weekly unemployment report. As for GDP, it was also a disappointment, as the headline figure came in at 1.9%, below the forecast of 2.0%. In addition, fourth quarter GDP was revised downward to minus 0.2%, the first decline in quarterly GDP since 2001.

Before the numbers came out, the stock market was higher in overnight trading, but the claims report sparked an abrupt 11-handle slide in S&P 500 futures, and triggered a big slide in the U.S. dollar and in Treasury yields. The yield on the benchmark 10-year note was down more than 2% into the stock market open, which suggested money flow away from equities toward safe-haven products. The dollar was down more than 100 basis points against the euro, slipping 0.7% after the . . .

Shares of Zones Inc. (Nasdaq:ZONS) have soared 52% after the company announced ahead of the opening it would be acquired for $8.65 per share cash. The company will be taken private after its chairman and CEO, Firoz Lalji, acquires the Auburn, Wash.-based company. The transaction is expected to close in the fourth quarter of this year.

Also before the opening, the direct-marketing technology reseller announced its second quarter earnings. For the quarter ended June 30, net sales decreased 17.6% to $158.3 million. Net income was $3.6 million, or $0.25 per share, compared with $4.4 million, or $0.30 per share, for the same period a year earlier.

At 9:45 a.m. ET, shares are at $8.30, up $2.86 from Wednesday’s close. Shares have ranged from $5.44 to $11.60 during the past year.

Silicon Motion Technology Corp (Nasdaq:SIMO), LandAmerica Financial Group Inc (Nasdaq:LFG) and Zones Inc (Nasdaq:ZONS) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Capital Trust Inc (Nasdaq:CT), Healthways Inc (Nasdaq:HWAY), Stewart Information Services Corp (Nasdaq:STC), Hickory Tech Corp (Nasdaq:HTCO), American National Bankshares Inc (Nasdaq:AMNB) and SonicWALL Inc (Nasdaq:SNWL).

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

Providence Service Corp (Nasdaq:PRSC), Zones Inc (Nasdaq:ZONS) and Zoran Corp (Nasdaq:ZRAN) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: PLX Technology Inc (Nasdaq:PLXT), Protherics PLC(Nasdaq:PTIL), United America Indemnity Ltd (Nasdaq:INDM), Cascade Microtech Inc (Nasdaq:CSCD) and Ladish Co Inc (Nasdaq:LDSH).

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

Small-cap stocks opened modestly higher after a see-saw overnight session. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.26, or 0.04%, at 703.45, as the market trimmed away opening gains in choppy action. Stability in the foreign exchange market, a decent batch of overnight earnings and mild short profit-taking provided mild support for stocks but the market appeared to be searching for a more dynamic directional bias this morning.

The U.S. dollar was up modestly at the beginning of U.S. trading and crude oil was down a couple bucks off Tuesday’s record high, which may have prompted a mild sigh of relief that the moves weren’t immediately extended. Still, the issue of a sluggish economy, coupled with rising food and energy costs, remains a major roadblock for equity market bulls. A USA Today poll said that rising food costs were a “significant” worry for Americans, with 73% of respondents citing higher grocery bills as a concern.

The market has seen quite a bit of daily volatility in recent days, with percentage moves in the 2% or more range every other day for six sessions. If that pattern holds true today, then this will be the “quiet” day on the rollercoaster ride. From a charting standpoint, the Russell has support today near 700, 695 and then a window . . .

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting strong gains on news the U.S. Federal Reserve will act to boost liquidity.

At 1:12 p.m. ET, the small-cap index had soared 13.00 points, or 2.02%, to 656.97. The Dow Jones Industrial Average (INDU) was up 204.26 points, or 1.74%, to 11,944.41.

Small-cap stocks are rising on news before the start of trading that the U.S. Federal Reserve and four other central banks will make expanded loans of cash and securities to financial institutions in an effort to ease the credit squeeze.

The Fed said it will lend up to $200 billion of Treasury securities to primary dealers for a term of 28 days. The U.S. central bank usually makes such loans overnight.

Shares of catalog and mail-order retailers are currently the top sector performers in today’s rally.

Small-cap direct marketer of brand name and private-label products Systemax Inc. (NYSE: SYX) is seeing its stock jump more than 25% on news after the close on Monday that the Port Washington, N.J.-based company has tripled its fourth-quarter profit.

Shares of PC Mall Inc. (Nasdaq: MALL), which markets computer hardware and software, and Zones Inc. (Nasdaq: ZONS), which resells IT products, are also in the green.

Also posting a modest gain is video-oriented product solutions provider Sigma Designs, Inc. (Nasdaq: SIGM).

Targacept , Inc. (Nasdaq: TRGT), Covenant Transportation Group, Inc. (Nasdaq: CVTI) and Building Materials Holding Corp. (NYSE: BLG) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers: