Tag - Beat

StarLims Technologies Ltd. (Nasdaq:LIMS), Cardionet Inc. (Nasdaq:BEAT), and LSB Financial Corp. (Nasdaq:LSBI) and Steak N Shake Co (Nasdaq:SNS) are among the biggest percentage Gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

 

Also included among the results: Allied HealthCare Products (Nasdaq:AHPI), Papa Johns( Nasdaq:PZZA), Xyratex Ltd. (Nasdaq:XRTX ), Exeter Resources Corp. (Nasdaq:XRA), and Advocat Inc. (Nasdaq:AVCA).

MDS Inc. (Nasdaq:MDZ), Medicines Co. (Nasdaq:MDCO) and Imergent Inc. (Nasdaq:IIG) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Computer Task Group Inc. (Nasdaq:CTGX), LCA Vision Inc. (Nasdaq:LCAV), DrdGold ADR (Nasdaq:DROOY), Gammon Gold Inc. (Nasdaq:GRS), CardioNet Inc. (Nasdaq:BEAT) and NetGear Inc. (Nasdaq:NTGR).

Novavax Inc. (Nasdaq:NVAX), Sequenom Inc. (Nasdaq:SQNM) and Biocryst Pharmaceuticals Inc. (Nasdaq:BCRX) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI), China Medical Technologies Inc. (Nasdaq:CMED), CardioNet Inc. (Nasdaq:BEAT), Immunomedics Inc. (Nasdaq:IMMU), Brigham Exploration Co. (Nasdaq:BEXP) and Savient Pharmaceuticals Inc. (Nasdaq:SVNT).

Sigma Designs Inc. (Nasdaq:SIGM), i2 Technologies Inc. (Nasdaq:ITWO) and A Power Energy Generation Systems Ltd. (Nasdaq:APWR) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CardioNet Inc. (Nasdaq:BEAT), i2 Technologies Inc. (Nasdaq:ITWO), OSI Systems Inc. (Nasdaq:OSIS), Conn's Inc. (Nasdaq:CONN), Tree.com Inc. (Nasdaq:TREE) and Nobility Homes (Nasdaq:NOBH).

Nymox Pharmaceutical Corporation (Nasdaq:NYMX), CardioNet Inc (Nasdaq:BEAT) and Bon-Ton Stores Inc (Nasdaq:BONT) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Novavax Inc (Nasdaq:NVAX), Blue Coat Systems Inc (Nasdaq:BCSI), Sequenom Inc (Nasdaq:SQNM), Hovnanian Enterprises Inc (Nasdaq:HOV), First Bancshares Inc (Nasdaq:FBSI) and ICT Group Inc (Nasdaq:ICTG).

Canadian Solar Inc. (Nasdaq:CSIQ), EnerNOC Inc. (Nasdaq:ENOC) and Orthovita Inc. (Nasdaq:VITA) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Columbia Banking System Inc. (Nasdaq:COLB), Novavax Inc. (Nasdaq:NVAX), CardioNet Inc. (Nasdaq:BEAT), JA Solar Holdings Co Ltd. (Nasdaq:JASO), UAL Corp. (Nasdaq:UAUA) and Sequenom Inc. (Nasdaq:SQNM).

ViroPharma Inc. (Nasdaq:VPHM), P.F. Chang's China Bistro Inc. (Nasdaq:PFCB) and Sequenom Inc. (Nasdaq:SQNM) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Exelixis Inc. (Nasdaq:EXEL), Jazz Pharmaceuticals Inc. (Nasdaq:JAZZ), CardioNet Inc. (Nasdaq:BEAT), JAKKS Pacific Inc. (Nasdaq:JAKK), Energy Conversion Devices Inc. (Nasdaq:ENER) and THQ Inc. (Nasdaq:THQI).

Orexigen Therapeutics Inc. (Nasdaq:OREX), Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) and PetMed Express Inc. (Nasdaq:PETS) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Infinera Corp. (Nasdaq:INFN), CardioNet Inc. (Nasdaq:BEAT), ClickSoftware Technologies Ltd. (Nasdaq:CKSW), China Housing & Land Development Inc. (Nasdaq:CHLN), Fuqi International Inc. (Nasdaq:FUQI) and BioDelivery Sciences International Inc. (Nasdaq:BDSI).

Brightpoint Inc. (Nasdaq:CELL), Seneca Foods Corp. (Nasdaq:SENEA) and Targacept Inc. (Nasdaq:TRGT) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc. (Nasdaq:CSIQ), AgFeed Industries Inc. (Nasdaq:FEED), CardioNet Inc. (Nasdaq:BEAT), Umpqua Holdings Corp. (Nasdaq:UMPQ), Resources Connection Inc. (Nasdaq:RECN) and Eagle Bulk Shipping Inc. (Nasdaq:EGLE).

Noven Pharmaceuticals Inc. (Nasdaq:NOVN), Take Two Interactive Software Inc. (Nasdaq:TTWO) and American Capital Agency Corp. (Nasdaq:AGNC) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CardioNet Inc. (Nasdaq:BEAT), A Power Energy Generation Systems Ltd. (Nasdaq:APWR), ATP Oil & Gas Corporation (Nasdaq:ATPG), RINO International Corp. (Nasdaq:RINO), Spartan Motors Inc. (Nasdaq:SPAR) and Energy Conversion Devices Inc. (Nasdaq:ENER).

Stocks closed higher today as Meredith Whitney's comments on Goldman Sachs (NYSE:GS) helped to lift financials, including Bank of America (NYSE:BAC), which she indicated as being inexpensive. Previously she'd been down on financials and very accurate with her assessment concerning their exposure to sub-prime mortgages.

The Dow closed up 185 points today to end at 8,332. The Nasdaq and S&P 500 followed suit to close at 1,793 and 901, respectively.

The Russell 2000 closed at 492, up 11 points.

Small-cap stocks showed leadership behind Territorial Bancorp (Nasdaq:TBNK) of Honolulu, Hawaii, which was up 49% to close at $14.94. Shares in TBNK started trading today as part of an initial public offering with the opening price set at $10.

Other small-cap gainers include PMI Group (NYSE:PMI) up 31%; iBasis (Nasdaq:IBAS) up 28% on news that Dutch telecommunications firm Koninklijke KPN issued an offer of $1.55 per share or roughly $48.2 million to acquire 44 percent of the shares outstanding in iBasis; and American International Group (NYSE:AIG) up 24%.

Decliners were lead by China-based baby formula producer American Dairy (NYSE:ADY) down 44% after issuing news that it had reduced guidance by stating that Q2 revenue would be increase only 10% against the year-prior period.

American Dairy had previously grown by nearly 200% after the company was untainted by the scandals surrounding other Chinese dairy producers over contaminated baby formula that left six infants dead and millions of gallons of milk considered suspect and destroyed.

Other decliners include CardioNET (Nasdaq:BEAT) down 34%; Sinclair Broadcast Group (Nasdaq:SBGI) down 21%; and American Axle & Manufacturing (NYSE:AXL) down 15%.

*****A few weeks ago, Treasury Secretary Geithner had to go to China to assure our largest creditor that their investment in the U.S. dollar was safe. Now he's off to Saudi Arabia and United Arab Emirates for another round of "strong dollar" propaganda.  
Of course, it's not an easy task to convince foreign governments that the U.S. wants a strong dollar when interest rates are at zero and we're selling tens of billions in Treasury bills virtually every week. You may recall Geithner's assurances elicited laughter from a group of Chinese college students when he made the strong dollar pledge there.  

If college students know the score, you can bet everyone else does, too.  But Treasury auctions have been met with plenty of demand, and that's a good thing.

*****Fed Chief Bernanke is expected to reveal to Congress just how he plans to reverse his stimulative monetary policy next week. The Fed has expanded the money supply by about $1 trillion, cut rates to zero and doubled the assets on its balance sheet.  

In normal times, this would be highly inflationary. But these aren't normal times. Were it not for the Fed's action, the U.S. economy would be broken even more than it already is.  

Now, normal times will return. And how the Fed plans to reel in liquidity when the economy starts to grow again is critical. The potential for runaway inflation is real, and the Fed will have to be just as diligent at fighting inflation as it was fighting deflation.  

*****Goldman Sachs (NYSE:GS) received an upgrade from the very same banking analyst that predicted collapse of mortgage-backed securities, Meredith Whitney.  
Upgrading Goldman is easy. The bank is practically a subsidiary of the U.S. government. But the timing is interesting, given that Goldman reports earnings before the bell tomorrow.  

And speaking of earnings, this is a big week for some important companies. In addition to Goldman, we get Intel (Nasdaq:INTC) after the bell tomorrow. Thursday, we'll hear from JP Morgan (NYSE:JPM), Google (Nasdaq:GOOG) and IBM (NYSE:IBM). Then Friday, we get General Electric (NYSE:GE), Bank of America (NYSE:BAC).  

Tech and financials - the anchors for the U.S. economy will be reporting this week. Investors will be watching these early earnings reports closely. Much of the rally of the past few months can be attributed to investors' faith in companies meeting Q2 earnings, even if expectations were substantially lowered. Any bad news from these bellwether companies and the market could turn. We'll be watching closely. 

*****As if earnings weren't enough, there's a full slate of economic data coming out this week, too. Tuesday, it's the Producer Price Index (PPI) along with retail sales and business inventories. 

Wednesday, we get the Consumer Price Index (CPI), the Empire Manufacturing Survey from New York state, capacity utilization, industrial production, crude inventories and the minutes from the last FOMC meeting. 

Thursday, it's initial unemployment claims and the Philadelphia Fed. 
And finally, on Friday, we get building permits and housing starts for June.   
Whew! That's going to be a lot of data to review.  

*****On January 15, my Top Stock Insights advisory service released its Predictions 2009 special issue. This issue was our blueprint for profits with mid- and large-cap stocks as we headed into the new year.  

In that issue, I outlined the case for oil, gold, commodities and biotech/healthcare stocks. And we took 51% profits on an oil stock, 25% on a gold stock, another 25% on a commodity stock and we're still holding three biotech/healthcare double-digit winners in the portfolio. 

In other words, our expectations for the year led my readers to some nice gains this year, and there's more to come... 

Now, I'm all set to release an update to that special Predictions issue that will get us through the rest of this year with more solid gains. It comes out on Wednesday, and if you'd like to get my blueprint for profits for the rest of 2009, please click here. Or go to topstockinsights.com. 

*****Also, if you missed TradeMaster Daily Stock Alerts technical analyst Jason Cimpl's weekly video chart analysis, here's that link again. 

CardioNet Inc. (Nasdaq:BEAT) is the sole 52-week low on Monday's session.

American Dairy Inc. (Nasdaq:ADY), CardioNet Inc. (Nasdaq:BEAT) and Grupo Radio Centro (Nasdaq:RC) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Pricesmart Inc. (Nasdaq:PSMT), ChinaEdu Corp. (Nasdaq:CEDU), Starlims Technologies Ltd. (Nasdaq:LIMS), Fuqi International Inc. (Nasdaq:FUQI), Adams Resources & Energy Inc. (Nasdaq:AE) and Brightpoint Inc. (Nasdaq:CELL).

CardioNet Inc (Nasdaq:BEAT), Cepheid (Nasdaq:CPHD) and OmniVision Technologies Inc (Nasdaq:OVTI) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AgFeed Industries Inc (Nasdaq:FEED), Spectrum Pharmaceuticals Inc (Nasdaq:SPPI), Canadian Solar Inc (Nasdaq:CSIQ), A Power Energy Generation Systems Ltd (Nasdaq:APWR), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF) and STEC Inc (Nasdaq:STEC).

CardioNet Inc. (Nasdaq:BEAT), Sterling Bancorp (Nasdaq:STL) and Medidata Solutions Inc. (Nasdaq:MDSO) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Spectrum Pharmaceuticals Inc (Nasdaq:SPPI), Geron Corp (Nasdaq:GERN) and Force Protection Inc (Nasdaq:FRPT) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Matrixx Initiatives (Nasdaq:MTXX), Century Aluminum Co (Nasdaq:CENX), ATP Oil & Gas Corporation (Nasdaq:ATPG), CardioNet Inc (Nasdaq:BEAT), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF) and Fuqi International Inc (Nasdaq:FUQI).

Clayton Williams Energy Inc. (Nasdaq:CWEI), Pinnacle Financial Partners Inc. (Nasdaq:PNFP) and CardioNet Inc. (Nasdaq:BEAT) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

ADC Telecommunications Inc. (Nasdaq:ADCT), Energy Conversion Devices Inc. (Nasdaq:ENER) and Acorda Therapeutics Inc. (Nasdaq:ACOR) are among the most actively traded companies in Thurday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CardioNet Inc. (Nasdaq:BEAT), Force Protection Inc. (Nasdaq:FRPT), Wind River Systems Inc. (Nasdaq:WIND), Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI), Acura Pharmaceuticals Inc. (Nasdaq:ACUR) and Fuqi International Inc. (Nasdaq:FUQI).

The markets were up today sloughing off yesterday's losses. The down closed up 57 points to 8,504. The Nasdaq gained 11 points to close at 1,845 and the S&P 500 gained 4 points to close at 923 after hitting resistance at 932 in morning trading and slowly sliding back down.

The Russell 2000, moved up just under 2% for the day to close at 517. The Russell 2000 represents the 2,027 small cap companies and contains well known companies like 1-800 Flowers.com (Nasdaq:FLWS), BankRate.com (Nasdaq:RATE), and Dominos Pizza (NYSE:DPZ). The Russell 2000 Index is up 50.7% since the market's nadir on March 9, 2009.

Small-cap gainers were lead by Oshkosh Corporation (NYSE:OSK), up 27% after the Pentagon announced that the firm's new blast resistant, off-road ground force vehicles were the "clear winners" in a multi-billion dollar competition. Oshkosh won the bid to build 2,244 vehicles for a deal worth $1.06 billion. The company beat out defense industry heavyweights including BAE Systems (LSE:BA.L) and General Dynamics (NYSE:GD).

A very exciting small-cap gainer today was LogMeIn (Nasdaq:LOGM), up 25% on it's IPO. LogMeIn is an on-demand connectivity specialty service firm whose product allows computer users to access files and services on one of their computers from another computer across the Internet.

For example, workers can access files resident on their office computers from home without having to attach to a corporate network or have their files stored on network servers. LogMeIn's services are primarily directed to small and medium-sized businesses.

Other gainers included Ivanhoe Mines (NYSE:IVN), up 23%; Northeast Bancorp (Nasdaq:NBN), up 23%; and ShengdaTech (Nasdaq:SDTH), up 19% after being upgraded by Roth Capital to a Buy rating from a Hold.

Small-cap decliners were lead by CardioNet (Nasdaq:BEAT), down 41% on news that the company slashed its profit and revenue outlook for 2009. The Pennsylvania-based maker of wireless heart-monitoring devices revised its profits to a range of 30 cents to 35 cents from earlier forecasts of 69 cents to 73 cents. Investors punished the company by unloading shares started right the open and continuing through the day. Shares tumbled to $9.57 from Tuesday's close of $16.32.

Rounding out the small-cap decliners were Repros Therapeutics (Nasdaq:RPRX), down 31% after being downgraded by Wedbush Morgan and Ladenburg Thalmann; Spartan Motors (Nasdaq:SPAR), down 27%, and Immersion Corporation (Nasdaq:IMMR), down 23%.

*****Earnings season is right around the corner. It seems that expectations are pretty low. I've read a few commentaries that suggest that estimates are low enough that companies should be able to meet them. Of course, what corporate America has to say about the future will be important.

Of course, I'll be watching the banks closely.

*****A lot has gone right for the banks lately. Changes to accounting rules have allowed them enough breathing room to operate. Mortgage loan modifications have brought in fees. And trading activities have even helped some banks to boost profits.

Still, I believe there's another banking shoe to drop.

As I reported yesterday, foreclosure sales are the majority of home sales these days. And when a bank sells a foreclosed home, it is a realized loss. That's as opposed to a non-performing loan or a foreclosed home that has yet to be sold, which can be counted as an asset.

Further exacerbating this is that banks are not realizing as much profit on those sales of foreclosed homes as they're all flooding the market with them and thus driving down prices.

So I expect to see higher losses affecting banks' earnings in the future. These losses may not show up in the earnings season that's about to begin, but they are looming.

*****It was reported today that mortgage applications fell 19% last week, another sign that foreclosures are driving the market. It also reinforces the point that once foreclosure sales slow, there may well be little demand for traditional home sales to pick up the slack.

Rising interest rates and still-falling home values are also impacting new mortgage applications. It's a buyers market, and there's no reason to rush in when prices are falling and loan costs are rising.

*****Bloomberg is reporting that 20 million of the 93 million homes, condos and co-ops in the U.S. are underwater as of March 31, 2009. Somebody will take these losses at some point, whether it's the homeowner, the bank or the government/taxpayer or a combination of any or all of the three.

******We know that sub-prime mortgages were a major source of non-performing loans and foreclosures. Now, prime mortgages are in trouble. In his morning missive to his traders, TradeMaster Daily Stock Alerts' Jason Cimpl had this to say:

Delinquencies on prime mortgages soared in the first quarter of this year. Delinquency rates on prime mortgages, the least risky category, were 661,914, a jump from 250,986 a year earlier. Two thirds of all mortgages in the U.S. are prime mortgages, so any percentage increase in delinquencies represents a huge absolute number of delinquent mortgages. Here is more proof that banks are in for a tough few years as they must monitor their loan portfolios even closer and suffer write-offs. If prime mortgages start going south in a big way, look for banks to stiffen lending standards even more. Either way, this will have a negative impact on their bottom line numbers

The evidence is building that the economy is nowhere near out of the woods. And we can also see that banks will be facing serious problems ahead. As I said yesterday, investors should be on their toes.

Also, we're not recommending downside positions on banks - yet. But that time will come, and there will be a lot of money to be made.

*****I'm giving my staff the day off on Friday. There will be no Daily Profit that day. And I've cajoled Jason into giving us his video chart analysis tomorrow, so we have that to look forward to tomorrow…

If you can't wait, check out Jason's video from last week and get a special opportunity to try his TradeMaster service. Click here.

 

CardioNet Inc. (Nasdaq:BEAT), Force Protection Inc. (Nasdaq:FRPT) and Spartan Motors Inc. (Nasdaq:SPAR) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Skystar Bio Pharmaceutical Co. (Nasdaq:SKBI), Zion Oil and Gas Inc. (Nasdaq:ZN), Pacific Continental Corp. (Nasdaq:PCBK), Acorda Therapeutics Inc. (Nasdaq:ACOR), Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) and MutualFirst Financial Inc. (Nasdaq:MFSF).

CardioNet Inc. (Nasdaq:BEAT), United Online Inc. (Nasdaq:UNTD) and Prospect Capital Corp. (Nasdaq:PSEC) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Force Protection Inc. (Nasdaq:FRPT), EV Energy Partners L P (Nasdaq:EVEP), Global Sources Ltd. (Nasdaq:GSOL), Ezcorp Inc. (Nasdaq:EZPW), AMAG Pharmaceuticals Inc. (Nasdaq:AMAG) and Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI).

CardioNet Inc. (Nasdaq:BEAT), Clayton Williams Energy Inc (Nasdaq:CWEI) and S&T Bancorp Inc. (Nasdaq:STBA) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Callaway Golf Co. (Nasdaq:ELY), CardioNet Inc. (Nasdaq:BEAT) and Clayton Williams Energy Inc. (Nasdaq:CWEI) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Medivation Inc. (Nasdaq:MDVN), Blue Coat Systems Inc. (Nasdaq:BCSI) and Star Bulk Carriers Corp. (Nasdaq:SBLK) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: MAP Pharmaceuticals Inc. (Nasdaq:MAPP), Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF), Take Two Interactive Software Inc. (Nasdaq:TTWO), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), CardioNet Inc. (Nasdaq:BEAT) and A Power Energy Generation Systems Ltd. (Nasdaq:APWR).

Formula Systems Depository Receipt (Nasdaq:FORTY), Saks Inc. (Nasdaq:SKS) and Mercantile Bancorp Inc. (Nasdaq:MBR) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Safe Bulkers Inc. (Nasdaq:SB), CardioNet Inc. (Nasdaq:BEAT), Lifeway Foods Inc. (Nasdaq:LWAY), Fuqi International Inc. (Nasdaq:FUQI), W Holding Co Inc. (Nasdaq:WHI) and eLoyalty Corp. (Nasdaq:ELOY).

CardioNet Inc. (Nasdaq:BEAT), Eagle Bulk Shipping Inc. (Nasdaq:EGLE) and Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ticketmaster Entertainment Inc. (Nasdaq:TKTM), Century Aluminum Co. (Nasdaq:CENX), Vanda Pharmaceuticals Inc. (Nasdaq:VNDA), A Power Energy Generation Systems Ltd. (Nasdaq:APWR), OncoGenex Pharmaceuticals Inc. (Nasdaq:OGXI) and Ciena Corp. (Nasdaq:CIEN).

Viad Corp. (Nasdaq:VVI), CardioNet Inc. (Nasdaq:BEAT) and Timberland Co. (Nasdaq:TBL) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Susser Holdings Corp. (Nasdaq:SUSS), GigaMedia Ltd. (Nasdaq:GIGM), Intermec Inc. (Nasdaq:IN), Ambassadors Group Inc. (Nasdaq:EPAX), Sepracor Inc. (Nasdaq:SEPR) and Diedrich Coffee Inc. (Nasdaq:DDRX).

Stocks are holding their ground through Tuesday trading as financial and homebuilder stocks stayed firm following a positive housing starts report.

At 1:49 pm ET, the Russell 2000 (NYSE:IWM) is up 9.37, or 2.43%, at 395.73, while the Dow is up 1.29% at 7,309.76, and the S&P 500 is up 1.83% at 767.68.

This morning the Commerce Department reported that construction of new homes and apartments jumped 22.2% from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units.

Small cap on the move today include Star Bulk (Nasdaq:SBLK), up 20% as the company’s Q4 net soars on bigger fleet. SkillSoft Public Limited Company (Nasdaq:SKIL) is also 24% higher today following a Q4 earnings boost.

Universally Reviled

I have never seen a company more determined to make itself universally reviled than AIG. It truly boggles the mind that anyone at AIG, especially those in the financial products division that lost $62 billion on credit default swaps in the fourth quarter alone, could think they should receive a bonus.

I don’t care what the contract says — if you’re party to losing $62 billion in a three-month span, you get no reward. Sorry. And if you even have to ask if bonuses can be paid with bailout money that’s keeping your business going, your moral compass is seriously out of whack.

And it doesn’t end with the bonuses. Of the $170 billion American taxpayers have dumped into the bottomless pit that is AIG, $106 billion was paid out in settlement for the credit default swaps that AIG guaranteed.

$11.92 billion to France’s SocGen, $11.8 billion to Deustche bank and $12 billion to Paulson’s own Goldman Sachs. Well, isn’t that nice. We’ve paid off foreign banks, and our former Treasury Secretary made sure his alma mater got its payoff, too.

This is dirty business. And if Paulson knew the extent of Goldman’s exposure to AIG, and it’s impossible to think he didn’t, he needs to be called to . . .

Stocks opened in the green and are continuing their positive trot through midday, buoyed by Tuesday’s news that beleaguered Citigroup (NYSE:C) is operating at a profit.

At 12:27 pm ET, the Russell 2000 (NYSE:IWM) was up 1.39, or 0.38%, at 369.14, while the Dow was up 0.02% at 6,927.77, and the S&P 500 was up 0.22% at 721.18.

Like Tuesday, financial stocks are leading the markets higher today on the Citigroup news, while tech stocks are also seeing a boost after large-cap benchmark Hewlett-Packard’s rating was upgraded.

While the market seems to be in recovery mode, don’t relax just yet. Analysts are warning that the rally will be short-lived and that there remain deep problems etched within the banking industry.

Small-cap stocks trending upward today include On Assignment, Inc. (Nasdaq:ASGN), 23% higher on lower-than-average volume, and YRC Worldwide Inc. (Nasdaq:YRCW), which is 11% higher despite making Moody’s “Bottom Rung List.” Axsys Technologies (Nasdaq:AXYS), a manufacturer of defense surveillance and imaging systems, is up 34% after the small cap put itself up for sale in an auction that drew a first round of bids earlier this week.

Global Markets Up …

Finally, early strength for stocks on Tuesday didn’t turn to weakness. In fact, . . .

Stocks are flying high at midday today on news that Citigroup (NYSE:C) reported it was profitable for the first two months of 2009.

At 1:27 pm ET, the Russell 2000 (NYSE:IWM) is up 19.94, or 5.81%, to 363.20. The Dow is up 4.27% to 6,826.77, and the S&P 500 is up 5.06% to 710.76.

Also helping stocks make large moves today was news that Congressman Barney Frank, chairman of the House financial services committee, said he expects the restoration of a rule that makes it harder to bet that a share's price will fall. Investors were encouraged by Frank's comments.

Financial stocks are in rally mode today following statements made by U.S. Treasury Secretary Timothy Geithner on Monday that the United States has taken more economic action in recent weeks than most countries have in years to ease strife.

Small caps seeing double-digit gains today include Gaylord Entertainment Company (NYSE:GET), up 33% after a proxy deal, and AM Castle (NYSE:CAS), which topped Q4 views and declared a $0.06 per share dividend, sending shares 42% higher.

Stocks up strong

Once again, early strength for stocks yesterday quickly turned to weakness. There is a battle going on between the bears and the bulls. Despite all time lows for consumer sentiment, there is a growing number of analysts and market strategists who believe a rally is at hand.

We’ve been seeing signs of a rally for a couple weeks now. That’s why . . .

Stock market news, commentary and analysis from Chief Investment Strategist Ian Wyatt.

Stocks extended losses during midday trading today, pushed down by poor housing data and by lackluster comments from Fed Chairman Ben Bernanke.

At 12:01 pm ET, the Russell 2000 (NYSE:IWM) was down 6.17, or 1.68%, at 361.63, while the S&P 500 is down 0.79% to 695.25 and the Dow is still below 7,000, currently down 0.46% at 6,732.23.

According to new data released by the National Association of Realtors this morning, the number of homebuyers purchasing existing homes fell 7.7% to a new low of 80.4 in January. Economists were predicting a January reading of 85.1.

Also this morning, Bernanke reiterated to Congress that any semblance of economic recovery hinges on the U.S. government’s ability to stabilize ailing financial markets. The comments did little to soothe investor fears.

Small caps seeing solid rises today included Bruker Corporation (Nasdaq:BRKR), up over 6% after releasing Q4 2008 results and issuing FY 2009 revenue guidance above analysts’ predictions. Also Southern Community Financial Corp. (Nasdaq:SCMF) is up 20% on very light volume, and Einstein Noah Restaurant Group (Nasdaq:BAGL) is up 18% after its Q4 EPS beat the Street.

On the downside, ICT Group careened 23% after rejecting Aegis’ acquisition offer.

Lending Profits

It is a strange sight to see the Dow Industrials trading at 6,700. That’s still a level from 1997. And it still indicates that people don’t want to own stocks. At this point, it seems to be as much about available capital for investment as a willingness to invest.

Valuations are low, the Dow is trading with a P/E of around 20. But that’s still not as low as it’s been during past recessions.

Still, it might be helpful to add some flavor to the current P/E ratio of the Dow. Consider that Citigroup and Bank of America don’t have earnings. Neither do Ford, GM, Alcoa. It’s safe to say that earnings at JP Morgan, American Express, . . .

Stocks were sharply lower at midday on news this morning that small-cap insurer American International Group Inc. (NYSE:AIG) posted the largest quarterly loss in U.S. corporate history, down $61.7 billion in Q4.

At noon the Russell 2000 (NYSE:IWM) was down 15.25, or nearly 4%, at 373.77, while the S&P 500 was down 3.66% to 708.15, and the Dow was down 3.25% to a staggering 6,833.54 — the first time the index has dipped below 7,000 in 11 years.

Myriad data reports out today showed personal spending rose about 0.6% in January and incomes rose 0.4%, while construction spending fell 3.3%, or more than twice as much as analysts predicted. Even though manufacturing contracted in February for the thirteenth straight month, the pace was slower than expected.

Small caps bucking the downward trend this morning included business service outsourcer ICT Group, Inc. (Nasdaq:ICTG), up nearly 70% after Aegis Limited made an acquisition proposal to ICT’s board. FGX International Holdings Limited (Nasdaq:FGXI) is seeing an 18% uptick following a strong sales and earning release late last week, and Noven Pharmaceuticals is up 10% ahead of its scheduled earnings release on Thursday.

On the downside, Ship Finance International (NYSE:SFL) is down over 23% after reporting a Q4 loss last week.

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Synchronoss Technologies Inc. (Nasdaq:SNCR), Meadowbrook Insurance Group (Nasdaq:MIG) and Volcano Corp. (Nasdaq:VOLC) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CardioNet Inc. (Nasdaq:BEAT), American Woodmark Corp. (Nasdaq:AMWD), TeleCommunication Systems Inc. (Nasdaq:TSYS), Energy Solutions Inc. (Nasdaq:ES), FreightCar America Inc. (Nasdaq:RAIL) and Universal Electronics Inc. (Nasdaq:UEIC).

Transact Technologies Inc (Nasdaq:TACT), Momenta Pharmaceuticals Inc (Nasdaq:MNTA) and Ebix Inc (Nasdaq:EBIX) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ArcSight Inc (Nasdaq:ARST), Republic Banc KY  (Nasdaq:RBCAA), CardioNet Inc (Nasdaq:BEAT), Cal-Maine Foods Inc (Nasdaq:CALM), TeleCommunication Systems Inc (Nasdaq:TSYS) and K-Tron International Inc (Nasdaq:KTII).

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

Small-cap stocks pushed lower on the opening, but edged back into the green about 30 minutes after the open as a slide in tech stocks and a turn for the worse for key financial shares was offset by money moving into small-cap commodity and consumer stocks. At 9:52 a.m. ET, the Russell 2000 (NYSE:IWM) was down 3.43, or 0.49%, at 694.20.

The tech-laden Nasdaq index bore the brunt of early selling interest, fueled by disappointing earnings results from benchmark companies like Apple Inc. (Nasdaq:AAPL) and Texas Instruments (NYSE:TXN), which were off 9% and 15% shortly after the open. Also, Vodafone Group (NYSE:VOD) slumped 13% as the mighty European-based mobile phone company lowered its outlook.

Within the financial arena, Wachovia Corp. (NYSE:WB) shed 10% early, snapping a run of positive surprises in the banking sector from recent days. WB, the fourth-largest U.S. bank, posted disappointing earnings, slashed dividends and announced sizable job cuts. Also, American Express (NYSE:AXP) was down 10% after missing the Street’s forecast, which triggered some analyst downgrades and a widening of credit default swap spreads (meaning it costs more to protect debt on the firm).

Comments this morning from Philadelphia Federal Reserve Bank President Charles Plosser had a decidedly hawkish tone and pulled down interest rate futures while supporting the U.S. dollar, but his remarks seemed to have a muted impact on stocks. Plosser said that “we will need to reverse course” on the policy front, and that the inflation picture is getting worse. Plosser is seen as one of the more hawkish members of the Fed and there seems to be a growing divide between policy members lately.

Goldman Sachs analyst Ed McKelvey addressed that very topic in a research report this morning titled “Mixed Messages from the Fed: Listen to Bernanke First.” Goldman’s McKelvey said that not all Fed officials are created equal and that the Bernanke Fed allows more dissent than typical policy boards. More importantly, the . . .

Sailing effortlessly through rough seas against a stiff headwind, CardioNet Inc. (Nasdaq:BEAT) is like a fearless mariner following its own star. The company has successfully pioneered a new category of diagnostic device termed Mobile Cardiac Outpatient Telemetry, and it's going to be big. 

In order to detect heart abnormalities, cardiologists subject patients to a battery of tests including a resting electrocardiogram (ECG) and stress test. An ECG records electrical signals emanating from the heart to identify abnormalities such as atrial fribulation and fluttering in heart rhythm. The ECG feedback helps diagnose heart damage, valve disorders and structural abnormalities, among other things.   

Riding the wireless wave, CardioNet has developed a real-time, outpatient heart monitor, which is a quantum leap forward for the industry. The system monitors a patient during the course of his daily routine and, in case of an arrhythmic event, relays real time information to a central monitoring center. 

Prior to the CardioNet System, doctors had only two options in outpatient heart monitoring. The first was an event-monitoring system (LOOPs), usually worn for 24 to 48 hours and activated when a patient senses an arrhythmic event. The second option was Holter monitoring, basically a cassette tape or digital recorder that continually records heart activity usually over a 24-hour period. The recordings are summarized and submitted to the patient's cardiologist sometime after the fact. 

The potential market for CardioNet’s ECGs could be tremendous, considering an estimated 4 million Americans suffer from some sort of arrhythmia annually contributing to some 780,000 annual hospitalizations and 500,000 deaths. 

The system has already received widespread acceptance. Since it received initial FDA approval in 2002, the company has lined up health systems payors encompassing as many as 74% of the U.S.-covered populations, some 176 million people, . . .

Titan Machinery Inc (Nasdaq:TITN), Cyberonics Inc (Nasdaq:CYBX) and Abiomed Inc (Nasdaq:ABMD) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: GMX Resources Inc (Nasdaq:GMXR), Innophos Holdings Inc (Nasdaq:IPHS), Gran Tierra Energy Inc (Nasdaq:GTE), A Power Energy Generation Systems Ltd (Nasdaq:APWR), CardioNet Inc (Nasdaq:BEAT) and Calgon Carbon Corp (Nasdaq:CCC).

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

Royale Energy Inc (Nasdaq:ROYL), Avant Immunotherapeutics Inc (Nasdaq:AVAN) and Brigham Exploration Co (Nasdaq:BEXP) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

GMX Resources Inc (Nasdaq:GMXR), Abiomed Inc (Nasdaq:ABMD) and CardioNet Inc (Nasdaq:BEAT) are also among the new 52-week highs.

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

Integral Systems, Inc. (Nasdaq:ISYS), Cardionet Inc. (Nasdaq:BEAT) and Danvers Bancorp, Inc. (Nasdaq:DNBK) were among the new 52-week highs established during Monday's trading among companies with market capitalizations or values under $750 million.

Gulf Island Fabrication, Inc. (Nasdaq:GIFI), Zoll Medical Corp. (Nasdaq:ZOLL) and America's Car-Mart, Inc. (Nasdaq:CRMT) were also among the 52-week small-cap highs.

Here are Monday's 52-week small-cap highs:

www.visa.com
NYSE: V
Scheduled for week of Mar. 17
$16 billion proceeds
$30.8 billion post-money valuation

Finally, there’s a hot IPO. Visa, the king of the credit cards, is going public in the king of all IPOs, the biggest ever in the United States. The company, which operates the world’s largest electronic payments network used for credit and debit transactions, is currently held by a consortium of banks, and they are not selling their Class B and Class C shares. However, they may as well be, as $10 billion of the proceeds (structured as Class A shares) will be used to redeem some of their stock upon the offering. Another $3 billion of the proceeds will be put in escrow for litigation, and the rest will go to general corporate purposes.

The litigation allowance is a bit scary. Visa has four main suits against it, all of which allege different forms of antitrust. The suits have been filed separately by Discover Financial Services (NYSE: DFS), American Express Company (NYSE: AXP), a large group of merchants, and the fourth by a class of consumers. MasterCard Incorporated (NYSE: MA), which went public in 2006, had a similar list of litigation in its prospectus, but it hasn’t held the stock back. It was offered at $39 on May 24, 2006, and currently trades at $191.50. Visa’s betting that investors will see the MasterCard profits and want a chance at the same, lawyers be damned.

Lawsuits aside, Visa is nicely profitable. Pro-forma for the effects of post-IPO share redemptions, the company lost $861 million on $5.2 billion of revenue, although expenses include a $2.7 billion charge for settling litigation with American Express. Revenue was up 33% in 2007 to over the $3.9 billion posted in 2006, thanks in part to a 13% increase in the number of payments processed and a 22% increase in the cash value of these payments.