Tag - Clp

The Russell 2000 (NYSE:IWM) eked out a green close today, but still lagged the Dow and S&P 500. Some of today’s small-cap gainers were InterMune (Nasdaq:ITMN), John B. Sanfilippo & Son (Nasdaq:JBSS) and Central European Distribution Corp. (Nasdaq:CEDC).

Other Market Watch highlights today included:

• The pending home sales report rose 6.3%, better than expected (the forecast was flat) and helped spark a recovery bounce in equities.
• Homebuilder stocks seemed to get a lift from the pending home sales number, with the ISE Homebuilder Index rising 5.2%.
• Motorcycle manufacturers were a top performer today, but the large automakers were in retreat mode as they release sales numbers today.
• Personal products companies, steel stocks, coal firms and general merchandise stores were all doing well today.
• Poor performers were regional banks, diverse financial services firms, consumer finance companies, diversified banks, casinos and REITs.
• For the year, the Russell is down 9.3%, while the Dow is off 7.9% and the S&P 500 is down 7.1%.
• Energy shares outpaced the overall market rise today, helped along by a modest 1.7% advance in crude oil futures, which gained $0.70 a barrel to $40.78.
• Crude prices were underpinned by talk of additional production cuts out of OPEC and some worries about possible refinery worker strikes. 
• On Wed. the market will get an early glimpse at private jobs numbers, . . .

Small-cap stocks drifted lower into mid-session, unable to keep pace with mild gains in large-cap indices as smaller banks and financial firms were a drag on the Russell 2000 (NYSE:IWM). Some of today’s small-cap gainers were PharmaNet Development Group Inc. (Nasdaq:PDGI), Allied Healthcare International Inc. (Nasdaq:AHCI) and KB Home (NYSE:KBH).

Other Market Watch highlights today included:

• Poor performers were regional banks, diverse financial services firms, consumer finance companies, diversified banks, casinos and REITs.   Feb 03, 2009 1:11pm
• Personal products companies, steel stocks, coal firms and general merchandise stores were all doing well today.   Feb 03, 2009 1:10pm
• Motorcycle manufacturers were a top performer today, but the large automakers were in retreat mode as they release sales numbers today.   Feb 03, 2009 1:10pm
• Bank stocks were a major drag on the market, with the KBW Banking Index off about 4.1%. 

Small Cap Gainers:

• PharmaNet Development Group Inc. soared 244% on news the firm will be acquired by JLL Partners Inc. for $5 a share. See (Nasdaq:PDGI).  
• Allied Healthcare International Inc. was up 21% on heavy turnover amid an earnings-related boost. See (Nasdaq:AHCI).  
• Small-cap homebuilder KB Home was up 6.8%, while Meritage Homes Corp. was up 10.9%. See (NYSE:KBH) and (NYSE:MTH)

Small Cap Losers:

• Complete Production Services slips to loss in Q4; shares tumble over 16%. See (NYSE:CPX).  
• Colonial Properties shares sink 12% on Q4 report. See (NYSE:CLP).  
• Warner Music Group Corp. was off 6.4% on active volume; the only apparent news was a PR release last night that the firm would enter a global distribution deal with Destiny Media. See (NYSE:WMG). 

Small-cap stocks extended the rally into midday trading, boosted by a bounce in financial and energy shares after those sectors were drummed during Monday’s massive rout. Oversold conditions, bargain hunting and optimism about a bailout for beleaguered automakers fueled the upside pop.  Some of today’s small-cap gainers are Colonial Properties Trust (NYSE:CLP), Deltek Inc. (Nasdaq:PROJ) and Williams-Sonoma Inc.  (NYSE:WSM).

Other Market Watch highlights today included:

• Automaker remained higher into midday as investors waited word on progress for an aid package to stave off potential failure for the Big 3.  
• Airline stocks were up 5.5%, outperforming the broad market.
• The ISE Homebuilders Index was up 7% also a sign of relief after all of the economy worries pounded stocks Monday.  
• Among S&P sectors, REITS, wireless telecoms, broadcasting firms and diverse financial services companies were the best performers.


Small Cap Gainers:

• Colonial Properties Trust jumped 38% after the multifamily real estate investment trust announced dividends. See (NYSE:CLP).
• Deltek Inc. rose 34% as the software designer generated a big outside bullish reversal on daily charts following Monday’s swoon. See (Nasdaq:PROJ). 
• Williams-Sonoma Inc. jumped nearly 25% as the retailer operator of Pottery Barn received analyst upgrades. See (NYSE:WSM).  
• Advanced Medical Optics Inc. rose 22%, reversing a sizable decline from Monday. See (NYSE:EYE).  
• US Airways Group Inc. and Alaska Air Group Inc. were both up about 8%, as airline stocks are flying high today. See (NYSE:LCC) and (NYSE:ALK).

Small Cap Losers:

• Palm Inc. tumbled 34% as the smart phone maker lowered quarterly projections. See (Nasdaq:PALM).
• Clearwire Corp. tumbled 20% on reports that the firm may slow its high-speed WiMax wireless network progress because of the tight credit market situation. See (Nasdaq:CLWRD).  
• Skyworks Solutions Inc. gapped lower and slumped 13% after the analog semiconductor firm lowered guidance. See (Nasdaq:SWKS).

Small-cap stocks extended the rally into midday trading, boosted by a bounce in financial and energy shares after those sectors were drummed during Monday’s massive rout. Oversold conditions, bargain hunting and optimism about a bailout for beleaguered automakers fueled the upside pop. At 12:30 p.m. ET, the Russell 2000 (NYSE:IWM) was up 20.74, or 4.97%, at 437.81.

Now that the Russell pushed through the first short-term resistance line at 433.50, the next test will be up at 442 if the market can hold above 433.50 through the afternoon. A pullback should find mild support along 424, then down at 413.50 if things deteriorate.

General Electric Co. (NYSE:GE), seen as a proxy for the overall economy because of its diverse group of products, was up 10% at mid-session, providing a lift not just to large caps, but a ripple through to small caps as well.

In addition, commodity markets were on a rising tide today after getting clobbered Monday, which bolstered commodity shares. Even though crude oil prices were hovering near steady levels, energy stocks were up about 2.5%. Among S&P sectors, REITS, wireless telecoms, broadcasting firms and diverse financial services companies were the best performers. The ISE Homebuilders Index was up 7% also a sign of relief after all of the economy worries pounded stocks Monday. Airline stocks were up 5.5%, outperforming the broad market, with small-cap carriers US Airways Group Inc. (NYSE:LCC) up nearly 8% and another small-cap firm Alaska Air Group Inc. (NYSE:ALK) also up about 8%.

Automaker shares remained higher into midday as investors waited word on progress for an aid package to stave off potential failure for the Big 3. Ford Motor Co. (NYSE:F) submitted a plan calling for $9 billion in loans. The plan would also cancel global executive bonuses, would cut dealers and include development of electric cars. Ford stock was up 10% on the news, leapfrogging (on a percentage basis) General Motors Corp. (NYSE:GM), which was leading Ford overnight, but which . . .