Tag - Aks

New Century Bancorp Inc. (Nasdaq:NCBC), Medicis Pharmaceutical Corp. (Nasdaq:MRX) and DryShips Inc. (Nasdaq:DRYS) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Marcus Corp. (Nasdaq:MCS), James River Coal Co. (Nasdaq:JRCC), Basic Energy Services Inc. (Nasdaq:BAS), Adams Resources & Energy Inc. (Nasdaq:AE), Cardiovascular Systems Inc. (Nasdaq:CSII) and AK Steel Holding Corp. (Nasdaq:AKS).

GMX Resources Inc. (Nasdaq:GMXR), Griffin Land & Nurseries Inc. (Nasdaq:GRIF) and Schnitzer Steel Industries Inc. (Nasdaq:SCHN) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Value Line Inc. (Nasdaq:VALU), GMX Resources (Nasdaq:GMXRP), Nash-Finch Co. (Nasdaq:NAFC), AK Steel Holding Corp. (Nasdaq:AKS), Catapult Communications Corp. (Nasdaq:CATT) and Fuel Systems Solutions Inc. (Nasdaq:FSYS).

Stocks continued their drop from the opening on a pullback in energy prices and on rumors that small-cap General Motors (NYSE:GM) may file bankruptcy.

At 11:30, the Russell 2000 (NYSE:IWM) was down 16.96, or 4.57%, at 354.34, while the Dow is down 3.16% to 6,658.88, and the S&P 500 is down 3.69% to 686.60.

The bad news out this morning weighed on stocks, and included a survey release that showed nearly 12% of mortgage holders are behind on payments or are in foreclosure.

GM auditors have said they have “substantial doubt” as to whether the battered automaker has the ability to continue, and GM said they may have to seek bankruptcy protection if its huge restructuring plan falls through. GM shares slid over 16% and are now under $2 per share.

Small caps bucking the downward trend today include Weight Watchers International (NYSE:WTW), up 18 on heavier-than-average volume. Cornell Companies (NYSE:CRN) is up over 10% after reporting a rise in Q4 profit, and also reporting positive Q4 profit results was Genesco, Inc. (NYSE:GCO), up 10% on the news.

*****Wednesday's rally could have been stronger, though you can't really be surprised that investors aren't jumping head first back in the stock market. Volume appears to have been solid, but not outstanding.

The most encouraging aspect to Wednesday's rally was leadership. We got leadership from technology and oil. If investors are buying in anticipation of an economic recovery, then oil necessarily must trade higher. Because any uptick in economic activity means increased demand for oil. And with OPEC production cuts taking hold and recent reserve draw-downs, the oil market has to be tight. 

*****Jason Cimpl, analyst for TradeMaster Daily Stock Alerts, made 10% on the US Oil Trust ETF (USO) last week. And the USO position he recommended . . .

Clearwater Paper Corp. (Nasdaq:CLW), TBS International Ltd. (Nasdaq:TBSI) and Kronos Worldwide Inc. (Nasdaq:KRO) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Genco Shipping & Trading Ltd. (Nasdaq:GNK), RehabCare Group, Inc. (Nasdaq:RHB), AK Steel Holding Corp. (Nasdaq:AKS), Chart Industries Inc. (Nasdaq:GTLS), Rockwood Holdings Inc. (Nasdaq:ROC) and Citi Trends Inc. (Nasdaq:CTRN).

Small-cap stocks remained sharply lower into mid-session, but were up from the extreme morning lows. Losses were stirred by worries over the economy, a revenue warning from key tech player Intel Corp and news of a big fraud from a major Indian outsourcing firm.  Some of today’s small-cap gainers are InterOil (NYSE:IOC), ICT Group (Nasdaq:ICTG) and AK Steel (NYSE:AKS).

Other Market Watch highlights today included:

• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.  
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.  
•The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.  
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.

Small Cap Gainers:

• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)  
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)  
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)  
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)  

Small Cap Losers:

• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)  
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)  
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)

Small-cap stocks went into a tailspin in early trading, pulled down by a gloomy report on the jobs front ahead of Friday’s key employment release. In addition, some big companies announced plans to slash workers or cautioned on the outlook, which sent a chill into a market that started out the year on a decent roll.  Some of today’s small-cap gainers are NetScout Systems, Inc. (Nasdaq:NTCT), Polycom Inc. (Nasdaq:PLCM) and AK Steel (NYSE:AKS).

Other Market Watch highlights today included:

• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.  
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.  
• The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.  
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.

Small Cap Gainers:

• NetScout Systems, Inc. is up 30% to $13.33 after announcing preliminary Q3 results and raising FY2009 guidance Tuesday. (See Nasdaq:NTCT)  
• Video-conferencing products maker Polycom Inc. is up 11% in pre-market trading to $15.40 after issuing upward guidance and announcing job cuts late Tuesday. (See Nasdaq:PLCM)
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)  
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)  

Small Cap Losers:

• Hill-Rom Holdings, Inc. and Texas Capital BancShares Inc. established new 52-week lows in early trading. (See NYSE:HRC, Nasdaq:TCBI)  
• Blyth Inc., which makes home-fragrance products and other household items, is down 11% to $6.19 after a downgrade by Jefferies & Co. (See NYSE:BTH)  
• Polymer products maker Landec Corporation is down 23% to $5.65 after news this morning of a downgrade from Northland Securities. (See Nasdaq:LNDC)

Gaylord Entertainment Co. (Nasdaq:GET), Live Nation Inc. (Nasdaq:LYV) and Symmetry Medical Inc. (Nasdaq:SMA) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Layne Christensen Co. (Nasdaq:LAYN), US Airways Group Inc. (Nasdaq:LCC), Diana Shipping Inc. (Nasdaq:DSX), VIST Financial Corp. (Nasdaq:VIST), Callon Petroleum Co. (Nasdaq:CPE) and AK Steel Holding Corp. (Nasdaq:AKS).

Small-cap stocks gyrated between positive and negative territory in the first half hour of trading as record-high crude oil prices, safe-haven flow away from stocks and steep declines in global markets overnight countered a decent personal income report. The market was oversold after Thursday’s collapse, and price action could be choppy ahead of the end of the quarter. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1.62, or 0.23%, at 700.04.

The Michigan sentiment survey slipped to 56.4, which was slightly below the forecast of 57, but the number was not enough of a surprise to spark a big move in stocks.

The personal income report headline figure jumped 1.9%, which was well beyond the median forecast for a rise of 0.7%. However, when discounting the impact of the tax stimulus checks, real income was only up 0.4%. The May PCE deflator was up 0.1%, which was better than the forecast for a rise of 0.2%, which sparked a pre-opening bounce off overnight lows in stock index futures.

“Real consumer spending jumped in May, boosted by the tax stimulus checks,” Steven Wood, chief economist with Insight Economics, said in an email. “This will allow consumer spending to rebound and keep Q2 growth positive (albeit weak). After the rebate checks are spent, ongoing job losses will weaken income growth, slow consumer spending and dampen economic growth during the second half of the year. Eventually, weak economic growth will dampen inflation — at least that’s the FOMC’s hope,” Wood said.

Despite the mild upbeat news from personal income data, the market still was on edge about crude oil prices, which climbed to a fresh record high overnight above $142 dollars a barrel. Crude prices backed off toward $140 into the stock market . . .

Small-cap stocks are expected to open steady to lower, with pressure from rising crude oil prices, slumping bank stocks and a sell-off in global equities overnight countered by a better-than-expected personal income report. The Russell 2000 (NYSE:IWM) was down about 0.2% in after-hours trading, which suggests a cash opening near 697.

Crude oil prices climbed to yet another record higher in overnight action, moving above $142 dollars a barrel. Although the market pulled back to around $141 dollars, it’s still unnerving to equities to go into the weekend with record highs in tow.

The personal income report came in at plus 1.9%, which was much better than the forecast for a rise of 0.7%. The May core personal consumption expenditure index was up 0.1%, (slightly below the 0.2% forecast), which sparked a recovery bounce in stock index futures from the overnight lows.

Equity markets around the world tumbled overnight, catching up with the big slide registered in U.S. stock markets Thursday. Japan shares were down 2%, Hong Kong off 1.8%, China down 5.5%, Taiwan down 3.3%, India down 4.3%, Australia down 1.3%, Singapore down 0.8% and South Korea off 2%.

Equities on the move overnight included Accenture (NYSE:ACN), which rallied after reporting strong earnings and raising full-year guidance. Also, Andersons Inc. (Nasdaq:ANDE) shot up some 15% in after-hours trading as the company also raised yearly guidance. Palm Inc. (Nasdaq:PALM) was off 7% overnight as earnings missed the forecast. AK Steel Holding Corp. (NYSE:AKS) shot up about 3% as . . .