Tag - Cml

Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI), Destination Maternity Corp. (Nasdaq:DEST) and 99 Cents Only Stores (Nasdaq:NDN) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Citizens Holdings Co. (Nasdaq:CIZN), Computer Programs And Systems Inc. (Nasdaq:CPSI), Schweitzer Mauduit International Inc (Nasdaq:SWM), Wilber Corp. (Nasdaq:GIW), Compellent Technologies Inc. (Nasdaq:CML) and Seneca Foods Corp. (Nasdaq:SENEA).

Small-cap stocks fell hard on the opening, pressured by a run of weak guidance projections on recession fears from the flood of quarterly earnings reports and by a steep slide in equity markets around the world overnight. Today’s small-cap gainers are BGH GP Holdings (Nasdaq:BGH), Carter's Inc (Nasdaq:CRI) and Compellent Technologies (Nasdaq:CML).

Other Market Watch highlights today included:

• The U.S. dollar continues to soar against the euro, climbing some 1.6% this morning to the highest point in about two years.  
• European and Asian equity markets were in a tailspin overnight, with Japan’s Nikkei sinking 6.8%, Singapore tumbling 5.2% to four-year lows and India shares off 4.8%.  
• A “V” shape would imply a relatively quick bounce out of the lull, while a “U” shape would imply a more prolonged slump.
• Debates are already underway in the economic analysis community about whether or not the U.S. economy will see a “V” or “U” shaped recovery out of the recession.

Small Cap Gainers:

• BGH GP Holdings up 17% after stating that it made a buyout offer for Buckeye GP’s remaining shares for $17 per share. See (NYSE:BGH). 
• Children's apparel market Carter's Inc. raised to "buy" from "hold;" reports solid Q3 results. Shares up over 15%.  See (NYSE:CRI).
• Compellent Technologies generates profit in Q3 2008. Shares up 10%. See (NYSE:CML).  
• United Airlines' parent company UAL Corp. recorded a $779 million 3Q loss on fuel Tuesday. Shares are up 12% today. See (Nasdaq:UAUA).  
• Cascade Bank posted a wider-than expected on government’s nationalization of Fannie and Freddie. See (Nasdaq:CASB). 

Small Cap Losers:

• Telecom Argentina skids 19% in the wake of Argentine government’s nationalization of pension plans. See (NYSE:TEO).  
• Hancock Holding Co. off 16% after posting lower earnings that missed the Street by 24%. See (Nasdaq:HBHC).  
• Foundation Coal Holdings Inc. is down 21% after releasing quarterly earnings. See (NYSE:FCL).  
• Kindred Healthcare slips 32% after lowering Q4 and 2008 guidance, reflecting softer hospital operating results. See (NYSE:KND).  

The Russell 2000 (NYSE: IWM) closed lower for the fifth consecutive session on news of more subprime fallout and tech sector woes. The small-cap index declined 3.24 points, or 0.47%, to 680.98. The Dow Jones Industrial Average (INDU) lost 45.10 points, or 0.37%, to 12,213.80.

On a year-to-date basis, the Russell 2000 is missing 11.10%, while the Dow is down 7.92% and the S&P 500 has retreated 9.64%.

The bears dominated trading and small-cap stocks spent the entire session in negative territory. With no major economic releases scheduled, investors focused on corporate news.

Citigroup Inc. (NYSE: C) reported before the opening that it may have to cut as many as 30,000 jobs over the next year and a half due to writedowns related to the subprime mortgage mess. Additionally, Citigroup might need to raise more capital to get over the credit crunch.

Contributing to the bearish sentiment was Santa Clara, Calif.-based chip maker Intel Corp. (Nasdaq: INTC), which announced after the close on Monday that it has lowered its first-quarter gross margin forecast to 54% from 56% earlier.

Small-cap stocks declined, with Jackson Hewitt Tax Service Inc. (NYSE: JTX) being one of the biggest losers. Before the opening the Parsippany, N.J.-based company posted third-quarter net income of $18.2 million, or $0.61 per share, a 34% decline from a year earlier.