Tag - Cdti

Innovative Solutions and Support Inc. (Nasdaq:ISSC), Russ Berrie & Co Inc. (Nasdaq:RUS) and Concurrent Computer Corp. (Nasdaq:CCUR) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.    

Also included among the results: South Finl Group (Nasdaq:TSFG), Berkshire Bancorp Inc. (Nasdaq:BERK), Beazer Homes USA Inc. (Nasdaq:BZH), LandAmerica Financial Group Inc. (Nasdaq:LFG), Clean Diesel Technologies (Nasdaq:CDTI) and Beazer Homes USA Inc. (Nasdaq:BZH).      

Here are the biggest percentage losers among small caps:   

Tween Brands Inc. (Nasdaq:TWB), Rainier Pacific Financial Group (Nasdaq:RPFG) and Energy Recovery Inc. (Nasdaq:ERII) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.        

Also included among the results: Horsehead Holding Corp. (Nasdaq:ZINC), China East Air (Nasdaq:CEA), Clean Diesel Technologies (Nasdaq:CDTI), LNB Bancorp Inc. (Nasdaq:LNBB), IRSA (Nasdaq:IRS) and Guidance Software Inc. (Nasdaq:GUID).           

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

Unity Bancorp Inc (Nasdaq:UNTY), TGC Industries Inc (Nasdaq:TGE) and Lime Energy Co (Nasdaq:LIME) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Spire Corp (Nasdaq:SPIR), Republic First Bancorp Inc (Nasdaq:FRBK), Clean Diesel Technologies Inc (Nasdaq:CDTI), Stanley Inc (Nasdaq:SXE), Media General Inc (Nasdaq:MEG) and Xerium Technologies Inc (Nasdaq:XRM).

Here are the biggest percentage gainers among small caps:

The Russell 2000 (NYSE:IWM) closed lower as fears of a slowing economy and its ripple effects spooked investors. The small-cap index fell 0.76 points, or 0.11%, to 711.92. The Dow Jones Industrial Average let go 35.99 points, or 0.29%, to 12,576.44.

On a year-to-date basis, the Russell 2000 has shed 7.06%, while the Dow has declined 5.19% and the S&P 500 is down 7.00%.

“Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market,” thought members of the U.S. Federal Reserve, according to minutes from its March 18 meeting released after the opening.

The Fed then decided to lower its target interest rate 0.75% to 2.25%. The minutes tell us that the majority of officials considered a deep . . .

Shares of Clean Diesel Technologies, Inc. (Nasdaq:CDTI) are revving up on news before the opening that it has licensed one of its products to Headway Machinery Co., Ltd., the largest diesel engine exhaust firm in China. The Stamford, Conn.-based emissions reduction company will receive an upfront licensing fee and royalties on all units of its wire mesh filter sold in China.

Headway will develop the technology to provide particulate matter emission reduction solutions to China-based truck manufacturers.

At 10:53 a.m. ET, the stock had added $1.49, or 12%, to $13.99.

The Russell 2000 (NYSE: IWM) gained ground for the second day in a row as investors digested the latest financial news. The small-cap index advanced 2.07 points, or 0.27%, to 756.13. The Dow Jones Industrial Average (INDU) fell 25.20 points, or 0.19%, to 13,207.27.

On a year-to-date basis, the Russell 2000 is down 3.97%, while the Dow is up 5.87% and the S&P 500 has climbed 2.57%.

Small-cap stocks went on a rollercoaster ride today but eventually came out on top as investors were unsure what to make of the latest financial news.

The day began with news that Morgan Stanley (NYSE: MS) swung to a fourth-quarter loss due to $9.4 billion in mortgage-related write-downs. The New York-based company responded by saying that it will sell as much as 9.9% of itself to a Chinese sovereign fund for a cash infusion of $5 billion.

The move is similar to the one made by a number of financial heavyweights that posted losses on investments in securities that contain subprime home loans and then turned to foreign investors for a cash infusion to boost capital.

The difficulties stem from the slump in the U.S. housing sector, which began in the second half of 2006 when home prices started to fall. That led to a wave of foreclosures and delinquencies that hit borrowers with subprime loans particularly hard and damaged the financial institutions that had purchased securities backed by those same loans.

As a global credit squeeze took hold, the U.S. Federal Reserve responded by lowering the federal funds rate, the rate at which commercial banks make overnight loans to each other, and creating a Term Auction Facility (TAF) program to auction term funds to depository institutions against collateral that can be used to secure loans.

The first of those auctions was on Dec. 17, and today the Fed announced that it gave $20 billion at an interest rate of 4.65%. The auction attracted 93 bidders that asked for a total of $61.55 billion, a sign that banks are hungry for money to improve balance sheets and boost liquidity.

The Russell 2000 (NYSE: IWM) and the Dow snapped a two-day losing streak to post solid gains on news of positive economic reports. The small-cap index added 13.58 points, or 1.81%, to 765.64. The Dow Jones Industrial Average (INDU) climbed 196.23 points, or 1.48%, to 13,444.96.

On a year-to-date basis, the Russell 2000 has lost 2.77%, while the Dow has gained 7.78% and the S&P 500 has advanced 4.83%.

The bulls owned the session today following news of a greater-than-expected rise in third-quarter U.S. productivity.

The Labor Department reported that non-farm U.S. productivity increased at an annualized rate of 6.3% during the third quarter, which is above the initially reported increase of 4.9% and the largest productivity gain in four years. Economists were expecting to see a narrower increase. Productivity rose 2.2% during the second quarter.

The same report also showed that unit labor costs, the cost of worker compensation and benefits per unit of manufactured output, declined 2%.

Unit labor costs are a key measure of inflation because if a rise in labor costs is not matched by a rise in productivity, the company must either absorb the increased costs or pass them along to the consumer in the form of higher prices.

The Russell 2000 (NYSE: IWM) fell today on news that reminded investors of the fallout from the subprime mortgage mess. The small-cap index retreated 7.91 points, or 1.04%, to 752.06. The Dow Jones Industrial Average (INDU) was off 65.84 points, or 0.49%, to 13,248.73.

On a year-to-date basis, the Russell 2000 has dropped 4.49%, while the Dow has advanced 6.21% and the S&P 500 has gained 3.26%.

Only the bears showed up today following news that financial services giant JPMorgan Chase & Co. (NYSE: JPM) downgraded fellow industry players Bear Stearns (NYSE: BSC), Goldman Sachs Group, Inc. (NYSE: GS) and Lehman Brothers Holdings Inc. (NYSE: LEH) to “sell” from “market perform.”

The news spooked investors who worried that a stagnating U.S. housing market could continue to plague banks and financial institutions and cause more economic malaise, possibly even triggering a recession.

All three New York-based financial services companies had invested in securities backed by subprime mortgages and took a hit during the third-quarter, declaring billions in write-downs on mortgage and other credit assets.

Economists worry that the ongoing slump in the U.S. housing sector and a credit squeeze will combine to significantly drag down U.S. economic growth in the fourth quarter of 2007 and into 2008.

The Russell 2000 (NYSE: IWM) opened in negative territory as credit jitters continue to weigh down the financial sector.

At 10:26 a.m. ET, the small-cap index was down 6.54 points, or 0.86%, to 753.43. The Dow Jones Industrial Average (INDU) had lost 36.25 points, or 0.27%, to 13,278.32.

The futures were pointing down and stocks predictably opened with a drop on news that JPMorgan Chase & Co. (NYSE: JPM) downgraded Bear Stearns (NYSE: BSC), Goldman Sachs Group, Inc. (NYSE: GS) and Lehman Brothers Holdings Inc. (NYSE: LEH) to “sell” from “market perform.”

All three New York-based financial services companies had invested in securities backed by subprime mortgages and have been negatively affected by the slump in the U.S. housing sector.

Financial stocks have been taking a beating over the past months, and today JPMorgan lowered its estimates for the sector’s fiscal fourth quarter and 2008.

The Russell 2000 (NYSE: IWM) fell today following news of a decline in U.S. manufacturing in November. The small-cap index lost 7.80 points, or 1.02%, to 759.97. The Dow Jones Industrial Average (INDU) stumbled 57.15 points, or 0.43%, to 13,314.57.

On a year-to-date basis, the Russell 2000 is off 3.49%, while the Dow has added 6.73% and the S&P 500 is up 3.94%.

The futures were pointing north and the major U.S. indices opened in the green but immediately fell as investors anticipated a decline in November manufacturing activity.

The Institute for Supply Management’s manufacturing index, released at 10 a.m. ET, showed a reading of 50.8, below October’s level of 50.9 but above economists’ projections of 50.5. A reading above 50 is an expansion.

“While other segments of the economy are struggling, manufacturing continues to grow due to continuing strength in new orders and a recovery in production from last month,” said Norbert Ore, chair of the ISM’s Manufacturing Business Survey Committee, in a statement.

Exports, production and new orders increased, while employment declined 4.2% compared with the level in October.

Small-cap stocks fell despite news of the smaller-than-expected decline.

The Russell 2000 (NYSE: IWM) is down despite a brief climb into positive territory on news of a plan to bring relief to struggling homeowners. At 2:43 p.m. ET, the small-cap index had lost 3.89 points, or 0.51%, to 763.88. The Dow Jones Industrial Average (INDU) had retreated 43.74 points, or 0.33%, to 13,327.98.

The U.S. Treasury Department is working on a plan to ease the pain of borrowers with subprime adjustable-rate mortgages, Treasury Secretary Henry Paulson said in a speech after the start of trading.

Paulson has been working with members of the mortgage industry on a plan that would help borrowers by freezing their introductory interest rates instead of having them reset to higher rates after a certain period of time, the way it is now. One of the issues currently in discussion is the length of the freeze.

A complete relief package has not yet been hammered out, while Paulson, who was speaking at an event organized by the Treasury Department’s Office of Thrift Supervision, did not give specifics on when a final agreement would be reached.

However, some observers expect a deal to be reached later this week.

Stocks reacted positively to the news, with the Russell 2000 posting gains shortly before 1 p.m. ET, only to fall down again. The Dow stayed in the green for longer before also succumbing to the bearish pull.

In other news, U.S. manufacturing continued to expand in November, but at a slower pace. The Institute for Supply Management’s manufacturing index fell to 50.8 from 50.9 in October. A reading above 50 indicates an expansion.

The Russell 2000 (NYSE: IWM) managed just a modest win today despite a strong start on speculation of an imminent interest rate cut. The small-cap index added 1.71 points, or 0.22%, to 767.77. The Dow Jones Industrial Average (INDU) moved up 59.99 points, or 0.45%, to 13,371.72.

On a year-to-date basis, the Russell 2000 has lost 2.50%, while the Dow has advanced 7.19% and the S&P 500 is up 4.56%.

The day’s economic news was decidedly negative, with reports showing that Americans’ income and consumption growth slowed while spending on construction declined more than expected.

The U.S. Commerce Department reported that consumption increased 0.2% in October, below the projected 0.3%. Consumption increased 0.3% in September. That could be a sign that American consumers have decided to curtail spending due to higher energy prices, tighter credit and the ongoing slump in the housing sector.

October personal income added 0.2%, below economists’ expectations and half the 0.4% rise it booked in September.

The housing sector also contributed bleak news. The U.S. Census Bureau announced that construction spending for October fell a greater-than-expected 0.8%. Predictably, residential construction led the way down, dropping 2% from the level in September and 15.8% from the level a year ago.

On a year-to-date basis, construction spending has amounted to $977 billion, 2.8% below the $1,005.3 billion recorded during the first ten months of 2006.

Nevertheless, stocks opened in positive territory as investors speculated that U.S. Federal Reserve will cut its target interest rate when it meets on Dec. 11.

The Russell 2000 (NYSE: IWM) is posting strong gains as investors speculate that the U.S. Federal Reserve will lower interest rates in December.

At 10:50 a.m. ET, the small-cap index had added 8.95 points, or 1.17%, to 775.01. The Dow Jones Industrial Average (INDU) was up 110.55 points, or 0.83%, to 13,422.28.

The bulls are dominating Wall Street as investors speculate that the U.S. Federal Reserve will cut its target interest rate when it meets on Dec. 11. Fueling the speculation is a speech by Chairman Ben Bernanke after the close on Thursday, during which he told the Charlotte Chamber of Commerce that economic uncertainty has increased due to turbulence in financial markets and the Fed must remain alert.

On Oct. 31, the Fed lowered the federal funds rate, the rate at which commercial banks make overnight loans to each other, to 4.50% from 4.75%.

In economic news, the U.S. Commerce Department reported that consumption increased 0.2% in October. Economists were projecting a rise of 0.3%, the same as September’s increase.

With consumption making up about 70% of gross domestic product, a slowdown would spell trouble for the economy. Many observers have been predicting that American consumers will pull back in the face of higher energy prices, tighter credit and the seemingly never ending slump in the housing sector.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are in positive territory this morning as investors pin their hopes on the retail sector.

At 10:26 a.m. ET, the small-cap index had added 8.25 points, or 1.11%, to 748.55. The Dow Jones Industrial Average (INDU) had advanced 88.36 points, or 0.69%, to 12,887.40.

The stock exchange will close at 1 p.m. ET today due to the Thanksgiving Day holiday.

All eyes are on retailers today, the so-called “Black Friday”, when millions of Americans do their holiday shopping and when retailers become profitable for the year.

Black Friday is traditionally one of the busiest shopping days of the year, when stores open earlier than usual and handle an increased number of holiday shoppers looking for bargains. Retailers nationwide are introducing discounts and other strategies to get Americans to spend despite high energy prices and lower house prices that have combined to negatively affect consumer spending.

The bulls are hoping to see strong retail sales.

In other economic news, former U.S. Federal Reserve Chairman Alan Greenspan said today that U.S. house prices have not yet hit their low point. Speaking to an audience in the Norwegian capital of Oslo, Greenspan pointed to the large number unsold homes and said that the decline in house prices in unprecedented.