Tag - Crzo

Woodward Governor Co. (Nasdaq:WGOV), Ampco Pittsburgh Corp. (Nasdaq:AP) and Ship Finance International Ltd. (Nasdaq:SFL) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Perfect World Co Ltd. (Nasdaq:PWRD), GMX Resources Inc. (Nasdaq:GMXR), Telvent GIT SA (Nasdaq:TLVT), Chart Industries Inc. (Nasdaq:GTLS), Carrizo Oil & Gas Inc. (Nasdaq:CRZO) and Seaspan Corp. (Nasdaq:SSW).

OmniVision Technologies Inc. (Nasdaq:OVTI), SAVVIS Inc. (Nasdaq:SVVS) and Hercules Offshore Inc. (Nasdaq:HERO) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ares Capital Corp. (Nasdaq:ARCC), XenoPort Inc. (Nasdaq:XNPT), Sierra Wireless Inc. (Nasdaq:SWIR), Carrizo Oil & Gas Inc. (Nasdaq:CRZO), EnerNOC Inc. (Nasdaq:ENOC) and Tessera Technologies (Nasdaq:TSRA).

The Russell 2000 1.39% today, notching the sixth consecutive daily gain -- something that hasn’t happened all year. Today's small-cap gainers were CIT Group (NYSE:CIT), Terra Nitrogen (NYSE:TNH) and EnergySolutions (NYSE:ES).

Other Market Watch highlights included:

• For 2008, the Russell is down 29%, while the Dow is off 27% and the S&P 500 is down 31%.
• Within the energy arena, the Energy Select Sector SPDR Fund jumped 6.3%, mirroring a big surge in crude oil prices.
• Crude gushed 10% on talk that Saudi Arabia was slashing production.
• The greenback tumbled more than 300 basis points, or some 2.4% against the euro, triggering a buying spree in all sorts of commodity goods.
• The Commodity Research Bureau Index of 19 physical markets shot 5.3% higher today, with gains seen in everything from gold, sugar, coffee, grains, cattle and copper.

Small-Gap Gainers:

• CIT Group (NYSE:CIT) closed up 36% after closing deal to access $500M credit line.
  
• Nitrogen fertilizer producer Terra Nitrogen (NYSE:TNH) closed up 25% on Cramer recommendation.
• EnergySolutions (NYSE:ES) trading 31% higher as oil prices continue their ascent upward.
• Carrizo Oil and Gas Inc. (Nasdaq:CRZO) rallied 24% on news of a joint venture to pursue growth in Marcellus Shale.

Small-Cap Losers:

• Animal Health International Inc. (Nasdaq:AHII) gapped lower and tumbled 57% on unusually heavy volume amid earnings news.
  
• Data company TNS, Inc. (NYSE:TNS) closed down 27% after reporting a rise in Q3 earnings, issuing Q4 guidance below Street.
• Tenet Healthcare Corporation (NYSE:THC) swings to 3Q profit on investment sales gain, shares dive 37% at closing.
• Health Net (NYSE:HNT) turns to profit in Q3, slashes FY08 EPS outlook. Shares tumble 18%.

Small-cap stocks extended the morning rally into midday action, boosted by gains in commodity and financial stocks and some relief that the end was in sight for the political uncertainty surrounding elections in the United States. Today’s small-cap gainers are Safe Bulkers Inc. (NYSE:SB), Carrizo Oil and Gas Inc. (Nasdaq:CRZO) and Silver Standard Resources Inc. (Nasdaq:SSRI).

Other Market Watch highlights today included:

• Big commodity gainers today are gold, copper and corn,
• Commodity stocks in general were lifted today by a sizable drop in the U.S. dollar, which tumbled some 2.8% against the euro, making goods priced in dollars more attractive.
•  The Energy Select Sector SPDR Fund was up 6% and crude oil prices shot 8% higher on reports that Saudi Arabia slashed output.  
• Commodity shares were on a roll today, with agriculture products, metal and mining stacks, coal and gold all seeing sizable gains.  
• Although the market initially pulled back on the dreary factory orders report, the rally quickly resumed and stretched out through mid-session.  

Small Cap Gainers:

• Safe Bulkers Inc. continued to be a hot stock as the marine transporter jumped 31% after being one of the biggest small-cap movers on Monday. See (NYSE:SB).  
• Carrizo Oil and Gas Inc. rallied 22% on news of a joint venture to pursue growth in Marcellus Shale. See (Nasdaq:CRZO).  
• Silver Standard Resources Inc. jumped 21% along with the resurgence in commodities. See (Nasdaq:SSRI).  
• Bruker Corp. is up 16% after reporting Q3 results on Monday. See (Nasdaq:BRKR).  

Small Cap Losers:

• Animal Health International Inc. gapped lower and tumbled 57% on unusually heavy volume amid earnings news. See (Nasdaq:ANII).  
• Kenexa Corp. down 28% as the employment search firm reported earnings, CEO says that the “business environment deteriorated” toward end of quarter with difficult economic climate. See (Nasdaq:KNXA).  
• Herbalife tops with Q3 EPS but misses with sales and guides below Street; shares down 16% in pre-market. See (NYSE:HLF).  
• Coldwater Creek falls 6% in after hours. Expects Q3 loss, pulls Q4 guidance. See (Nasdaq:CWTR).

Small-cap stocks extended the morning rally into midday action, boosted by gains in commodity and financial stocks and some relief that the end was in sight for the political uncertainty surrounding elections in the United States. At 12:32 p.m. ET, the Russell 2000 (NYSE:IWM) was up 7.10, or 1.32%, at 545.60.

Even another downbeat reading on manufacturing activity today didn’t stall buying enthusiasm. Just a day after the ISM Manufacturing Survey came in at 38.9% -- well below the 50% contraction line -- today’s factory orders data came in at minus 2.5%, below the forecast for a drop of 1.5%. Although the market initially pulled back on the factory orders report, the rally quickly resumed and stretched out through mid-session.

Commodity shares were on a roll today, with agriculture products, metal and mining stocks, coal and gold all seeing sizable gains. The Energy Select Sector SPDR Fund was up 6% and crude oil prices shot 8% higher on reports that Saudi Arabia slashed output. Commodity stocks in general were lifted today by a sizable drop in the U.S. dollar, which tumbled some 2.8%, or more than 350 basis point against the euro, which makes goods priced in dollar terms more attractive. Among the big gainers were gold, copper and corn.

Soybean processor Archer Daniels Midland Co. (NYSE:ADM) jumped 17% on solid earnings, and other large-cap names getting an earnings lift today included MasterCard Inc. (NYSE:MA), which jumped 14% and lifted rival firm American Express Co. (NYSE:AXP) along for the ride, with AXP up about 5%.

Economic bellwether stock General Electric Co. (NYSE:GE) rose 8% . . .

Westport Innovations Inc. (Nasdaq:WPRT), Carrizo Oil & Gas Inc. (Nasdaq:CRZO) and EnerNOC Inc. (Nasdaq:ENOC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Energy Solutions Inc. (Nasdaq:ES), Bruker Corp. (Nasdaq:BRKR), Sykes Enterprises Inc. (Nasdaq:SYKE), Taleo Corp. (Nasdaq:TLEO), Evergreen Solar Inc. (Nasdaq:ESLR) and SunPower (Nasdaq:SPWRB).

Here are the biggest percentage gainers among small caps:

We are small-cap growth investors, so when I talk about small-cap stocks I am really focusing on small-cap growth stocks. [This year] seems to me to have a lot of similarities to 1990; that was a year where small stocks declined in the first half of the year over concerns regarding the bank crisis and the economy, and then recovered as it became clear that the bank crisis, while difficult, was being handled, and the economy had entered a short (two quarter) and relatively mild recession. I believe, given the recent actions by the Fed and the regulators, that the financial issues that currently confront us today will also turn out to be manageable — by that I mean they will not plunge us into a depression or a severe recession — and while it appears we are in a recession, I believe it will be reasonably short and mild. However, also like the 1990s, the effects of the financial crisis will cause economic growth to be quite mild for many years forward; this will cause the market, I believe, to put a premium on those companies that can deliver earnings growth.

Smaller companies tend to be less liquid as trading vehicles than larger companies and mid-sized companies, as they have fewer shares outstanding. They also can be more volatile over short-time horizons, for the same reason. However, in part because of their smaller size and fewer shares outstanding, they have the potential to grow earnings at a faster rate than larger companies. I would also say that, in my experience, management has a bigger impact, either positive or negative, on . . .

There are over 5,000 companies that meet our definition of small cap (companies under $2 billion in capitalization), thus it is really hard to make generalizations [concerning the corporate earnings outlook]. We are still finding companies that have bright prospects for earnings growth in 2008 and beyond, because they have strong product cycles, really differentiated products, have made an acquisition that is strategically significant, or some other event. I believe that in all but the most severe recessions, the future of a small company rests . . .

Mary Lisanti, president of Lisanti Capital Growth, told CNBC this morning that in the shattered market there are still small cap buys.

“[Small caps] survive and prosper by the uniqueness of the product and service that they offer,” Lisanti told CNBC. “So they tend to be recession resistant, which is counter intuitive, but it’s actually what happens at the growth end of the market.”

A normal drop in a recession for small caps is about 25% to 30%, and we’re almost at that point for small caps according to Lisanti.

Lisanti says it’s best to have a long-term time frame when investing in small caps.
 
“When you look at a year or more, I think that’s really when you’ll make your most money. Small caps tend to lead the market coming out because they have earnings growth,” she said. “So we find a lot of companies that are still growing in this market. They have cash, so they’re not impacted by the credit crisis, and they have something unique and different that they do and that’s really the trick to small caps.”

Specific small caps Lisanti favors include ICON plc (Nasdaq: ICLR), which provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries, and Carrizo Oil & Gas Inc. (Nasdaq: CRZO), an oil and natural gas play. She also favors Rubicon Technology, Inc. (Nasdaq: RBCN), which sells monocrystalline sapphire and other crystalline products for light-emitting diodes, radio frequency integrated circuits and optoelectronics.