Tag - Bobe

Symmetricom Inc. (Nasdaq:SYMM), Hi Shear Technology Corp. (Nasdaq:HSR) and Huron Consulting Group Inc. (Nasdaq:HURN) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Bob Evans Farms Inc. (Nasdaq:BOBE), Astronics Corp (Nasdaq:ATRO), Colony Bankcorp Inc. (Nasdaq:CBAN), Vanguard Natural Resources LLC (Nasdaq:VNR), Culp Inc (Nasdaq:CFI) and Deerfield Capital Corp. (Nasdaq:DFR).

Origin Agritech Ltd. (Nasdaq:SEED), Bob Evans Farms Inc. (Nasdaq:BOBE) and Applied Signal Technology Inc. (Nasdaq:APSG) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hub Group Inc. (Nasdaq:HUBG), Life Partners Holdings Inc. (Nasdaq:LPHI), Utah Medical Products Inc. (Nasdaq:UTMD), Atlas Pipeline Partners LP (Nasdaq:APL), Technitrol Inc. (Nasdaq:TNL) and Rubicon Technology Inc. (Nasdaq:RBCN).

What looked like a sleepy, mild opening dip turned into an ugly downside press, with small-cap stocks pulled down this morning by sloppy corporate profit reports, declines in Asian equities and yet another weak tone on the commodities front. Today’s small-cap gainers are Concur Technologies (Nasdaq:CNQR), General Motors Corp. (NYSE:GM) and GT Solar (Nasdaq:SOLR).

Other Market Watch highlights today included:

• Copper and aluminum prices tumbled to 3-year lows during London’s trading session.  
• There are no economic reports on tap today in the U.S., but banks and government offices are back at work after the Veteran’s Day holiday, which could help volume levels.  
• At 9:54 a.m. ET, the Russell 2000 was down 6.28, or 1.30% at 476.00, slipping through intraday chart support along the 480 line.
• What looked in advance like a sleepy, mild opening dip in the Russell 2000 turned into an ugly downside press.

Small Cap Gainers:

• Concur Technologies sees 2009 revenue growing 25%; shares climb 12% in pre-market. See (Nasdaq:CNQR).  
• House speaker Nancy Pelosi pushes legislation that would help bail out the embattled U.S. automakers; General Motors Corp. is up 9% on the news. See (NYSE:GM).  
• GT Solar appoints Jacobs Engineering Group chairman Noel G. Watson to board of directors; shares tread nearly 4% higher in pre-market. See (Nasdaq:SOLR).  
• Nice Systems up 3% in pre-market on a rise in Q3 net profit, revenue. See (Nasdaq:NICE).  


Small Cap Losers:

• JA Solar posts loss on Lehman, cuts forecast; shares dive 24% in pre-market. See (Nasdaq:JASO).
• J Crew Group Inc. is down 13%, sinking to 52-week lows. See (JCG).  
• Canadian Solar downgraded to "hold" from "buy" by Deutsche Securities; shares down 7.6% in pre-market. See (Nasdaq:CSIQ).  
• Sausage and restaurant operator Bob Evans Farms Inc. lowered its outlook and was off about 2.5% in pre-market trading. See (Nasdaq:BOBE).  

What looked like a sleepy, mild opening dip turned into an ugly downside press, with small-cap stocks pulled down this morning by sloppy corporate profit reports, declines in Asian equities and yet another weak tone on the commodities front. At 9:54 a.m. ET, the Russell 2000 (NYSE:IWM) was down 6.28, or 1.30%, at 476.00, slipping through intraday chart support along the 480 line.

Economic news overnight out of Europe was bleak, with eurozone industrial production coming below the forecast and the Bank of England projecting a sharp economic contraction next year. Despite the gloomy news, European shares weren’t taking a big hit, but they weren’t exactly charging higher either and for the most part turned lower ahead of the U.S. open. Asian stocks slipped about 1.4% overnight, including a 3.1% slide in India and a 1.4% slump in Japan.

There are no economic reports on tap today in the United States, but banks and government offices are back at work today after the Veteran’s Day holiday Tuesday, which could help volume levels. The international trade data Thursday morning could spark volatility in foreign exchange markets, but the big data event this week comes with Friday’s retail sales report. Treasury Secretary Henry Paulson will hold a media briefing this morning to discuss the $700 billion rescue plan, and comments from that press conference could move financial stocks and the market in general. The presser is slated for 10:30 a.m. ET.

Speaking of retail sales, the big drag on market psychology early today came from electronics giant Best Buy Co. Inc. (NYSE:BBY) which dramatically slashed the forecast for 2009, yet another numbing sign that companies are girding for a very difficult consumer spending environment not just now, but for several months to come. BBY shares were off 10% shortly after the open.

Other individual stocks taking a hit from soft earnings/outlooks this morning include Intrepid Potash Inc. (NYSE:IPI) as the fertilizer firm missed the estimate . . .

Small-cap stocks are expected to open slightly lower Wednesday, pressured by weak earnings results, lowered corporate outlooks and another pullback in Asian stocks overnight. Stock index futures were down about 0.6% ahead of the U.S. open, which suggests a Russell 2000 (NYSE:IWM) opening near 479.50.

Stock futures were hovering near steady levels, but took a turn lower when Best Buy Co. Inc. (NYSE:BBY) lowered its 2009 outlook dramatically. BBY shares were down some 12% in pre-market trading.

Soft themes popped up in on several earnings reports heading into the open, including a variety of businesses such as fertilizer company Intrepid Potash Inc. (NYSE:IPI), which missed the forecast; NBTY Inc. (NYSE:NTY) as the manufacturer of nutritional supplements also missed the forecast; and small-capper sausage and restaurant operator Bob Evans Farms Inc. (Nasdaq:BOBE) lowered its outlook and was off about 2.5% in pre-market trading.

Japan’s Nikkei was down 1.3% overnight, and an index of Asian stocks was off 1.4%; more severe declines were seen in India, which tumbled 3.1% and are down 9.5% . . .

Cheesecake Factory Inc. (Nasdaq:CAKE), Evergreen Solar Inc. (Nasdaq:ESLR) and Mentor Graphics Corp. (Nasdaq:MENT) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Mobile Mini Inc. (Nasdaq:MINI), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF), Ciena Corp. (Nasdaq:CIEN), Brightpoint Inc. (Nasdaq:CELL), Bob Evans Farms Inc. (Nasdaq:BOBE) and Mercadolibre Inc. (Nasdaq:MELI).

Here are the most actively traded companies among small caps:

Small-cap stocks pushed higher Wednesday, underpinned by a slide in crude oil prices and a stabilization in the latest bout of credit crunch fears. The Russell 2000 (NYSE:IWM) closed up 4.71, or 0.64%, at 743.71, outperforming both the Dow and S&P 500, both of which struggled to close near steady levels.

Once again the small-cap market retreated after moving close to key long-term resistance at 750. That point marks a 50% Fibonacci retracement of the entire bear market collapse and has been a difficult spot for bulls to crack on the rally off the March lows. Looking at short-term charts for Thursday, resistance is at 745, 750 and 754, while support comes in at 735, 731 and 726.

Crude oil prices slumped more than $1 dollar per barrel Wednesday, dipping back below $124 as the weekly stocks report showed a build in gasoline inventories. In addition, the demand picture might be softening a bit as India and Malaysia decided to raise fuel prices, which could curb demand out of Asia. Airline stocks have had a mild sigh of relief this week on the pullback in energy prices, and the AMEX Airline Index climbed 3.31% Thursday. Small-cap stock US Airways (NYSE:LCC) gained about 3.6%, while UAL Corp. (Nasdaq:UAUA) rallied about 5% as the major airline announced plans to reduce workforce and fleet numbers.

The market continues to closely watch developments on the financial front as talk has expanded again this week about debt write downs, and the need for some banks and brokerage firms to raise capital to shore up balance sheets. Much of the focus the last two sessions has centered on Lehman Bros. (NYSE:LEH), and the firm’s stock has been on a rollercoaster. Today, Lehman Bros. managed to rise about 2.5% to near 31.40, rallying back from intraday lows at 28.52.

Investors had a chance to trade off several different economic reports this morning. Overall, the data was a mixed bag and appeared to have little more than a short-term impact on trading decisions. To recap, the ADP private employment survey showed an unexpected increase in new jobs in May, which was a supportive element

PokerTek Inc (Nasdaq:PTEK), Sequenom Inc (Nasdaq:SQNM) and Bob Evans Farms Inc (Nasdaq:BOBE) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

New Century Bancorp Inc (Nasdaq:NCBC), SUNOPTA INC (Nasdaq:STKL) and Koppers Holdings Inc (Nasdaq:KOP) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

Small caps are rising in Wednesday’s afternoon trading, after three consecutive losing sessions. Promising economic data assuaged investors’ concerns about the financial sector after Moody’s Investors Service warned that it might lower the credit ratings of bond insurers Ambac Financial Group (NYSE:ABK) and MBIA Inc. (NYSE:MBI). At 2:13 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.37, or 0.86%, at 745.37.

The ADP private employment survey today showed a better-than-expected gain of 40,000 jobs in May. Nonfarm payrolls also jumped 60,000 in May. On Friday, the Labor Department reports its data on U.S. nonfarm payrolls for May.

Lower crude oil prices are easing inflation concerns. In afternoon trading, crude oil is down to $122.66 a barrel. Gold futures are also down in Wednesday afternoon action.

Lehman Bros. (NYSE:LEH) shares are dipping after the Wall Street Journal reported that the brokerage firm might need capital from foreign investors to strengthen its balance sheet. Further concerns about the financial sector were raised when ratings agency Fitch said overnight that a couple of large French banks needed to raise capital.

Moody’s Investors Service said Wednesday afternoon that MBIA Inc. has weak new business prospects and may incur higher losses on guarantees it sold on mortgage-backed securities and collateralized debt obligations. Moody’s put MBIA on review for a possible downgrade.

Broad market sectors under pressure include coal energy, home improvement retailers, oil and gas, metal mining, aerospace and defense companies. On the upside, airline, printing services, plastics and rubber, auto and truck manufacturers, school . . .

Small-cap shares hovered near steady levels, trimming away opening losses tied to ongoing concerns in the financial sector amid reports that banks and brokerages need to raise capital. Another slip in crude oil prices likely muted selling interest in equities. At 10:05 a.m. ET, the Russell 2000 (NYSE:IWM) was off 0.66, or 0.09%, at 738.35.

Lehman Bros. (NYSE:LEH) remains at the eye of the latest financial storm, and was trading down 3.4% shortly after the open after tumbling 9.4% Tuesday on persistent talk that the brokerage firm would need to raise capital to shore up the balance sheet. The banking concerns were fanned overnight when ratings agency Fitch said that a couple of large French banks needed to raise capital. The European stock market took a hit on those concerns, losing about 2% heading toward the U.S. open.

The market navigated through a series of economic data this morning, with the final report from the ISM Non-Manufacturing Survey coming out at 10:00 a.m. ET. The ISM data came in at 51.7%, which was above the 51% forecast. There was a brief upside pop on the ISM release, but it didn’t appear to hold trader attention for long.

Earlier today, the ADP private employment survey showed a surprise rise in new jobs in May, which tugged stocks off overnight lows at the time, but had little staying power into the morning trade. In addition to ADP payrolls, the market saw a productivity report that came in just above the forecast at 2.6%, and an MBA mortgage application index that was at six-year lows. The trading shelf life on all of these data releases was collectively short. Later this afternoon near 2:00 p.m. ET, Federal Reserve Chairman Ben Bernanke will speak at Harvard, but his speech topic is titled “Economic Challenges: 1975 and Now” and he’s not taking questions, so it’s unlikely his appearance will stir the market. That said, foreign exchange markets were still buzzing about his rare direct comments on the dollar from Tuesday, which sparked a rally in the greenback.

The opening slide in stocks took place in the face of soft crude oil prices, which shows that the market does have more on its mind right now than just the energy market. Crude oil prices slipped $124 dollars a barrel overnight, pressured by news that India and Malaysia raised fuel prices, which could crimp demand out of Asia. The weekly oil inventory data should come out around 10:35 a.m. ET, which could spark a . . .