Tag - Abr

Other Market Watch highlights today included:

• Tire and rubber, coal, homebuilding, metal and mining and even hotel stocks were attracting buyers so far today.   Nov 26, 2008 12:58pm
• Office electronics were up, and so were construction-themed companies.   Nov 26, 2008 12:58pm
• Looking at sector activity, automobile manufacturers were on a roll today, with General Motors Corp. up 31%.   Nov 26, 2008 12:57pm
• The market seemed willing to cast aside a batch of mostly awful economic data from this morning as no surprise.

Small Cap Gainers:

• ATP Oil & Gas Corporation jumped 30% as the offshore oil and gas firm tried to mount a lasting rally after setting long-term lows last week. See (Nasdaq:ATPG).
• Orient Express Hotels Ltd. rallied 27% as the luxury hotelier and travel company appeared to attract bargain hunters in the hotel group. See (NYSE:OEH).  
• American Axle & Manufacturing up 24% after declaring a Q4 dividend earlier this week. See (NYSE:AXL).  
• SeaChange International Inc. is up 23% as the video-on-demand software firm benefited from an earnings-related boost. See (Nasdaq:SEAC).

Small Cap Losers:

• Safe Bulkers drops another 15% today on light volume. See (NYSE:SB).  
• Arbor Realty Trust down 15% on lower-than-average volume, hovering above a 52-week low of $1.77. See (NYSE:ABR). 
• Signet Jewelers reports disappointing Q3 09 results; shares dive 11%. See (NYSE:SIG).  
• J. Crew Group shares fall 7% on weak outlook. See (NYSE:JCG).  

Small-cap stocks extended the bear market collapse Thursday, tumbling to the lowest point since May 2003 as a familiar combination of awful economic data and flight-to-quality money flow was accentuated by a rout in energy stocks. The market generated an impressive midday recovery to positive territory on oversold conditions and erratic bargain hunting but failed to sustain the move. Some of today’s small-cap gainers are Ambac (NYSE:ABK), Doral Financial Corp. (NYSE:DRL) and China Distance Learning (NYSE:DL).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund tumbled some 10% today as energy names were a big drag on index products big and small.  
• Crude oil prices tumbled some 8% to three-year lows as fears of sinking global demand continues to hammer energy prices.  
• The market will get a break from any major economic reports Friday, allowing other factors to compete for investor attention.  
• Benchmark 10-year notes saw yields down more than 6%, an astounding move as investors appeared to pour cash into Treasuries.  


Small Cap Gainers:

• Ambac commutes $3.5 billion in CDO exposure; shares skyrocket 80%. See (SEE:ABK).
• Doral Financial Corp. is up 34% after narrowing its Q3 losses by 97%. See (NYSE:DRL).  
• China Distance Learning sees a decline in net profits but a rise in net revenue. Shares are up over 13%. See (NYSE:DL).  
• Aircastle Limited up 12% after kissing a 52-week low of $2.78 this morning, down from a 52-week high of $28.02. See (NYSE:AYR).  

Small Cap Losers:

• Media General shares lost as much as 54% of their value on Thursday after Harbinger Capital sold stock in the newspaper publisher. See (NYSE:MEG).  
• Arbor Realty Trust hit a new 52-week low of $1.90, down from a 52-week high of $19.20. Shares are currently down 31%. See (NYSE:ABR).
• Helix Energy Solutions Group Inc. closed down 44% as the offshore development company said that production in the wake of Gulf hurricanes was near 50% of pre-storm levels. See (NYSE:HLX).  
• Sandridge Energy Inc. tumbled 42% as the natural gas company set record lows for their stock. See (NYSE:SD).  

Small-cap stocks remained lower into midday trading, but were also well off the morning lows as oversold conditions, erratic bargain-hunting, firm tech and retail stocks helped limit some of the gloom surrounding the latest economic news. The market continued to fret about the fate of domestic automakers, and continued to suffer money flow exit into safe-haven docks. Some of today’s small-cap gainers are Gymboree Corp. (Nasdaq:GYMB), KLA-Tencor Corp (Nasdaq:KLAC) and Dress Barn (Nasdaq:DBRN).

Other Market Watch highlights today included:

• The Energy Select Sector SPDR Fund was off 6.7% at mid-session.  
• Crude oil prices tumbled below $50 a barrel, reaching the lowest point since May 2005 and energy stocks were taking a beating today.  
• The market continues to fret about the fate of domestic automakers, and continued to suffer money flow exit into safe-haven docks.  
• The chart structure for small caps is awful right now, with the Russell 2000 in freefall mode through support points that date back more than five years.

Small Cap Gainers:

• Gymboree Corp. is up 25% in afternoon trading as the children’s retailer beat the earnings forecast. See (Nasdaq:GYMB).  
• Analysts' projections of KLA-Tencor Corp. remain unaffected after the semiconductor company announced it would cut 15% of its workforce. Shares up 10.3%. See (Nasdaq:KLAC).
• Dress Barn up about 10% on an increase in Q1 net earnings. See (Nasdaq:DBRN).
• True Religion Apparel up nearly 6% today following a surge in Q3 profits reported earlier this month. See (Nasdaq:TRLG).

Small Cap Losers:

• Media General shares lost as much as 54% of their value on Thursday after Harbinger Capital sold stock in the newspaper publisher. See (NYSE:MEG).
• Arbor Realty Trust hit a new 52-week low of $1.90, down from a 52-week high of $19.20. Shares are currently down 31%. See (NYSE:ABR).  
• REITs continue to bleed red in the weathered economy and ProLogis is no exception. Shares of the REIT are down over 22%. See (NYSE:PLD).  
• Suntech Power Holdings cuts forecast, shares fall to all-time low of $5.33. See (NYSE:STP).

Selling interest today was offset by optimism over steady declines for inter-bank lending rates and ideas the bad news on the economy has already been priced into the stock market. The Russell 2000 (NYSE:IWM) closed up 0.18%, posting a fifth-consecutive higher close, something that hasn’t happened since April. Today’s small-cap gainers are CVR Energy (NYSE:CVI), Arbor Realty Trust (NYSE:ABR) and Safe Bulkers (NYSE:SB).

Other Market Watch highlights today included:

• The ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42% and marked the lowest manufacturing activity index in 26 years.
• For the year, the Russell is now down 30%, while the Dow is off 30% and the S&P 500 is down 34%.
• Today's trading was easily the calmest session seen since the collapse began back in mid-September.
• Airlines appeared to get a lift from another pullback in crude oil prices, which were down $3.90 a barrel, or about 5.7%.
• The AMEX Airline Index rose 5.6% to the highest point since Sep. 22 and is now up 85% since the Oct. 10 low. 
• Wireless telecoms were the top performers, followed by tire and rubber stocks, multiline insurers, life health insurers, glass and metal container stocks, gold and aluminum.
• Casinos were out of favor so far today after posting solid gains late last week. Oil exploration and oil production stocks were also down, as were department stores, home improvement retail, automotive retail and oil and gas storage . . .

Small-cap stocks remained moderately higher into the mid-session time frame, with support from lower inter-bank lending rates and analyst upgrades on key technology and retailer firms offset by a somber reading on manufacturing activity. Today’s small-cap gainers are Arbor Realty Trust Inc. (NYSE:ABR), Advanced Medical Optics Inc. (NYSE:EYE) and CVR Energy (NYSE:CVI).

Other Market Watch highlights today included:

• The market was trading in very tame fashion today, holding a relatively slim trading range while being devoid of the massive volatility.  
• The U.S. dollar was firm against the euro, which also hindered upside in commodity products.  
• Crude oil prices were down about 3%, which likely anchored down energy stocks.
• Oil exploration and oil production stocks were down, as were department stores, home improvement retail, automotive retail and oil and gas storage stocks.  
• Casinos were out of favor so far today after posting solid gains late last week.

Small Cap Gainers:

• Arbor Realty Trust Inc. is up about 42% climbing above the 20-day moving average for the first time in a month. See (NYSE:ABR).
• Advanced Medical Optics Inc. is surging 24% following solid earnings news from Friday. See (NYSE:EYE).  
• CVR Energy Inc. is rallying nearly 24%, extending a big rally that started Friday. It's set to release earnings Thursday. See (NYSE:CVI).  
• China Sunergy announces it will report Q3 results on Nov. 25; shares pop 20%. See (Nasdaq:CSUN).

Small Cap Losers:

• Saga Communications careening 15% ahead of its earnings release tomorrow. See (NYSE:SGA).
• LandAmerica Financial Group to lay off 105 employees, shares down 16%. See (NYSE:LFG).
• Lydall, Inc. down 21% on lower Q4 results due to weak automotive market. See (NYSE:LDL).  
• AtriCure Inc. is tumbling 43% on news that the firm is under investigation by the Department of Justice for potential false claims on the company’s surgical devices. See (Nasdaq:ATRC).

Small-cap stocks remained moderately higher into the mid-session time frame, with support from lower inter-bank lending rates and analyst upgrades on key technology and retailer firms offset by a somber reading on manufacturing activity. At 12:53 p.m. ET, the Russell 2000 (NYSE:IWM) was up 3.37, or 0.63% at 540.89.

Analyst upgrades on Biogen Idec Inc. (Nasdaq:BIIB) propped up the tech sector, while an upgrade on Wal-Mart Stores Inc. (NYSE:WMT) underpinned the consumer arena.

Looking at broad market sector activity today, wireless telecoms were the top performers, followed by tire and rubber stocks, multiline insurers, life health insurers, glass and metal container stocks, gold and aluminum. On the downside, casinos were out of favor so far today after posting solid gains late last week. Oil exploration and oil production stocks were down, as were department stores, home improvement retail, automotive retail and oil and gas storage stocks.

Crude oil prices were down about 3%, which likely anchored down energy stocks. The U.S. dollar was firm against the euro, which also hindered upside in commodity products. The Commodity Research Bureau Index of 19 physical markets was off about 0.7%.

The market was trading in very tame fashion today, holding a relatively slim trading range while being devoid of the massive volatility that has been the hallmark of action since mid-September. Perhaps some of the volatility was curbed by traders taking a breather ahead of the U.S. elections Tuesday. In addition, there are still plenty of economic reports to rile things up as the week progresses.

Speaking of economic reports, today’s ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42.0% and way off the 50% line that . . .

Atlantic Southern Financial Group Inc (Nasdaq:ASFN), Arbor Realty Trust Inc (Nasdaq:ABR) and East West Bancp Inc (Nasdaq:EWBC) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Temecula Valley Inc (Nasdaq:TMCV), FirstFed Financial Corp (Nasdaq:FED), Sonic Solutions (Nasdaq:SNIC), KINGSWAY FINANCIAL SERVICES INC (Nasdaq:KFS), Midwest Banc Inc (Nasdaq:MBHI) and American Apparel Inc (Nasdaq:APP).

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