Tag - Cnb

Small caps took a dive today, closing down 5.97% and snapping a string of six consecutive higher sessions in the process amid gloomy economic worries. Today’s small-cap gainers are Radian Group (NYSE:RDN), Venoco, Inc. (NYSE:VQ) and BlueLinx Holdings (NYSE:BXC).

Other Market Watch highlights today included:

• The Russell is now down 33% for the 2008, while the Dow is off 31% and the S&P 500 down 35%.
• In a research letter this morning, analysts at Goldman Sachs cautioned that downside risks in the economy could lead an even larger slide in GDP figures.
• A weekly inventory report showed growing stocks of energy products and soft demand, which helped fuel today’s decline.
• Even though the dollar gave back overnight gains, commodity markets struggled today, which is a sign that demand worries were front and center.
• Forest products, coal, steel, metals and mining stocks were among the worst performing broad market sectors today.
• In a research letter this morning, analysts at Goldman Sachs cautioned that downside risks in the economy could lead an even larger slide in GDP figures.

Small Cap Gainers:

• Radian Group posts Q3 profit on strong revenue; shares rose 31%. See (NYSE:RDN).
• Independent energy company Venoco, Inc. closed up 20% on higher-than-average volume. See (NYSE:VQ).
• BlueLinx Holdings closed up 20% after appointing George Judd CEO today. See (NYSE:BXC). 
• Acquisitions boost health care company Greatbatch's Q3 profit 53%. Shares closed up 15%. See (NYSE:GB).

Small Cap Losers:

• Adept Technology Inc. tumbled 33%, gapping lower and sinking on heavy volume as the vision-guided robotics firm took a hit on earnings news. See (Nasdaq:ADEP).
• Lakes Entertainment Inc. slumped 29%, plunging a day after earnings and also as a casino referendum in Ohio was defeated. See (Nasdaq:LACO).
• Ashford Hospitality Trust closed down 20% after naming interim CFO. See (NYSE:AHT). 
• Fitch downgraded Colonial BancGroup's ratings last week; shares dove over 22% today. See (NYSE:CNB). 

Small-cap stocks extended morning losses into the midday time frame, as another batch of dour economic numbers quickly refocused attention from the U.S. elections back onto the recession. Today's small-cap gainers were BlueLinx Holdings (NYSE:BXC), Venoco, Inc. (NYSE:VQ) and Medco Health (NYSE:MHS).

Other Market Watch highlights included:

• Commodities (a big plus for the market on Tuesday) were struggling today. Crude oil prices were off 7% after soaring 10% Tuesday.  
• The best performers are homebuilders, health care services, managed health care and office supplies.  
• Forest products, tire and rubber stocks, health care facilities, coal, Internet retail and broadcast TV companies are the worst performers.  
• The jobs issue is now on the front burner ahead of Friday’s big employment report, which is expected to show a nasty decline.  
• Drug, technology and financial shares paced today’s decline, fueled by worries that a recession in the U.S., global slowdown would dampen corporate profitability and deepen jobs losses.  

Small Cap Gainers:

• BlueLinx Holdings up 20% after appointing George Judd CEO today. See (NYSE:BXC).
• Independent energy company Venoco, Inc. up 16% on higher-than-average volume. See (NYSE:VQ).  
• Medco Health shares up 13% after seeing 38% rise in Q3 profit. See (NYSE:MHS).  
• Natural Gas Services Group announces a 43% increase in Diluted EPS for Q3; shares climb over 11%. See (NYSE:NGS).  
• Genco Shipping cancels agreement to acquire six drybulk newbuildings; shares up over 8%. See (NYSE:GNK).  

Small Cap Losers:

• NeuStar reports Q3 results, downgraded to "buy" from "strong buy." Shares dive 20%. See (NYSE:NSR).
• Ashford Hospitality Trust down 20% after naming interim CFO. See (NYSE:AHT).  
• Reports say Advance America, Cash Advance could take $42M hit if forced to close Ohio centers. Shares careen 15%. See (NYSE:AEA).
• Fitch downgraded Colonial BancGroup's ratings last week; shares dive over 22% today. See (NYSE:CNB).  
• Simcere Pharmaceutical Group down 25% on heavier-than-average volume. See (NYSE:SCR)

Washington Banking Co (Nasdaq:WBCO), Cogent Communications Group Inc (Nasdaq:CCOI) and Gaming Partners International Corp (Nasdaq:GPIC) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Colonial Bancgroup Inc (Nasdaq:CNB), Timberland Bancorp Inc (Nasdaq:TSBK) and AEP Industries Inc (Nasdaq:AEPI) are also among the new 52-week lows.

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