Tag - Cae

Exide Technologies (Nasdaq:XIDE), Cascade Corp. (Nasdaq:CAE) and First Community Bancshares Inc. (Nasdaq:FCBC) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: LCA Vision Inc. (Nasdaq:LCAV), Union Drilling Inc. (Nasdaq:UDRL), Heritage Crystal Clean Inc. (Nasdaq:HCCI), Central Pacific Financial Corp. (Nasdaq:CPF), Volcom Inc. (Nasdaq:VLCM) and Western Refining Inc. (Nasdaq:WNR).

Destination Maternity Corp. (Nasdaq:DEST), Quigley Corp. (Nasdaq:QGLY) and Cascade Corp. (Nasdaq:CAE) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Mercadolibre Inc. (Nasdaq:MELI), Heritage Commerce Corp. (Nasdaq:HTBK), OceanFirst Financial Corp. (Nasdaq:OCFC), China Finance Online Co Ltd. (Nasdaq:JRJC), Raven Industries Inc. (Nasdaq:RAVN) and Hawk Corp. (Nasdaq:HWK).

Pike Electric Corp. (Nasdaq:PEC), Cascade Corp. (Nasdaq:CAE) and BlueLinx Holdings Inc. (Nasdaq:BXC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Bridge Capital Holdings (Nasdaq:BBNK), Trex Co In (Nasdaq:TWP), B&H Ocean Carriers Ltd. (Nasdaq:BHO), Logility Inc. (Nasdaq:LGTY), China Direct Inc. (Nasdaq:CDS) and Calavo Growers Inc. (Nasdaq:CVGW).

Here are the biggest percentage losers among small caps:

The Russell 2000 (NYSE: IWM) ended the day in negative territory on news of economic data confirming a slowdown in growth. The small-cap index fell 1.43 points, or 0.18%, to 785.52. The Dow Jones Industrial Average (INDU) moved up 5.69 points, or 0.04%, to 13,625.58.

On a year-to-date basis, the Russell 2000 is off 0.24%, while the Dow has added 9.23% and the S&P 500 has advanced 6.22%.

Nonfarm payroll employment increased 94,000 in November, the U.S. Labor Department reported. That’s below October’s slightly upwardly revised total of 170,000 but just above economists’ projections.

The employment gains were led by the service sector, while manufacturing and construction shed jobs. Overall, the unemployment rate stayed put at 4.7%.

“Employment is a lagging indicator,” said Arun Raha, vice president of Economic Research and Consulting for the North American operations of reinsurance company Swiss Re, in an email. “The November increase in jobs growth, far less than in October, is consistent with slowing growth.”

The same report also showed that average hourly earnings climbed 0.5% to $17.63. That’s an increase of 3.8% from a year earlier, suggesting that the tight labor market is not putting much pressure on wages.

Small-cap stocks opened in the green but fell soon after. Trading was choppy from that point on, with the Russell 2000 index generally staying in the red.

Shares of Cascade Corp. (Nasdaq: CAE) are weighed down on news after the close on Thursday that the maker of lift truck attachments and related products reported third-quarter fiscal 2008 earnings that missed expectations.

Net income for the three months ended Oct. 31 was $12.4 million, or $1 per share, while seven analysts polled by Thomson Financial were looking for earnings of $1.08 per share. Profit during the third quarter of fiscal 2007 was $12.3 million, or $0.94 per share.

However, revenues increased 17% to $143.1 million, topping Wall Street’s forecast of $139.43 million. Revenues a year ago were $122.8 million.

The Fairview, Ore.-based company explained that the increase was primarily due to increased business from Europe. Cascade reported that shipments to the lift truck industry in Europe rose 20%, while shipments in North America declined 13%.

At 3:37 p.m. ET, shares of Cascade Corp. (CAE) had dropped $10.49, or 16%, to $53.84. The 52-week low of $49.02 was established on Dec. 8, 2006. The 52-week high of $89.87 was hit on July 10.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are moving down. At 1:38 p.m. ET, the small-cap index had shed 4 points, or 0.51%, to 782.95. The Dow Jones Industrial Average (INDU) was down 12.03 points, or 0.09%, to 13,607.86.

Job creation is moving along at modest pace, but Americans have become more pessimistic about the economy, according to separate news reports released this morning.

The U.S. Labor Department announced before the start of trading that nonfarm payroll employment increased 94,000 in November. That’s below October’s upwardly revised total of 170,000 but above economists’ projected job growth of 70,000. The decline in job growth is consistent with a slowing economy.

The unemployment rate is unchanged at 4.7%, which translates to 7.2 million workers.

Small-cap stocks opened in the green but fell immediately after. The index hit its lowest point in the morning session at 10 a.m. ET, when the University of Michigan said that preliminary numbers for November’s consumer confidence showed the index is at its lowest level in two years.

The index of consumer sentiment fell to 76.1 in the November, down from 80.9 in October and well below the level of 92.1 in November of 2006.

“Rising prices for fuel and food had a devastating impact on household budgets, and falling home prices have diminished consumers’ sense of financial security,” said survey director Richard Curtin in a statement.