Tag - Ctr

Builders FirstSource Inc. (Nasdaq:BLDR), 51Job Inc. (Nasdaq:JOBS) and US Auto Parts Network Inc. (Nasdaq:PRTS) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: IncrediMail Ltd. (Nasdaq:MAIL), Cogent Communications Group Inc. (Nasdaq:CCOI), IEC Electronics Corp. (Nasdaq:IEC), Tenneco Inc. (Nasdaq:TEN), Targacept Inc (Nasdaq:TRGT) and Cato Corp. (Nasdaq:CTR).

TiVo Inc. (Nasdaq:TIVO), Jackson Hewitt Tax Service Inc. (Nasdaq:JTX) and Flagstone Reinsurance Holdings Ltd. (Nasdaq:FSR) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hawaiian Holdings Inc. (Nasdaq:HA), Sauer Danfoss Inc. (Nasdaq:SHS), Lawson Products Inc. (Nasdaq:LAWS), Cato Corp. (Nasdaq:CTR), International Assets Holding Corp. (Nasdaq:IAAC) and Pervasive Software Inc. (Nasdaq:PVSW).

Value-priced women's retailer The Cato Corp. (NYSE:CTR) reported comparable store sales for the month of September this morning that declined 3% from September of 2007. Sales for the month decreased 2%, as the retailer continued to grapple with a difficult economic environment coupled with a negative impact from hurricanes in the gulf coast during the month. Cato reieterated its third-quarter earnings guidance.

Shares were halted in pre-market trading. For detailed price information and news stories on The Cato Corp., click CTR.

Chemgenex Pharm (Nasdaq:CXSP), LSB Corp (Nasdaq: LBSX) and Zumiez Inc (Nasdaq:ZUMZ) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.     

Also included among the results: Cato Corp (Nasdaq:CTR), Deltek Inc (Nasdaq:PROJ), RXi Pharmaceuticals Corp (Nasdaq:RXII), Princeton National Bancorp Inc (Nasdaq:PNBC), Micromet Inc (Nasdaq:MITI) and Torch Energy Royalty Trust (Nasdaq:TRU).   

Here are the biggest percentage gainers among small caps:    

The Cato Corp.’s (NYSE:CTR) stock slid 8% this morning after the specialty retailer said it expects to earn less in the third quarter than analysts were expecting.

In an announcement released before the bell this morning, Charlotte, N.C.-based Cato estimated its earnings per share for the third quarter to be in the range of a loss of $0.05 to $0.00. Analysts polled by Thomson First Call were expecting third-quarter earnings to be $0.02 a share.

The company said it expects the remainder of the year to be difficult as its customer “continues to face difficult economic conditions.”

By mid-morning, Cato is at $16.02, down $1.39. The stock has ranged between $12.48 and $22.25 during the past 52 weeks.

For detailed price information and news stories on Cato, click CTR.

Excel Technology Inc (Nasdaq:XLTC), Ruby Tuesday Inc (Nasdaq:RT) and First California Financial Group Inc (Nasdaq:FCAL) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Cato Corp (Nasdaq:CTR), Fundtech Ltd (Nasdaq:FNDT), Duckwall Alco Stores Inc (Nasdaq:DUCK), Metabolix Inc (Nasdaq:MBLX), InterVoice Inc (Nasdaq:INTV) and Renaissance Learning Inc (Nasdaq:RLRN).

Here are the biggest percentage gainers among small caps:

The Cato Corporation (NYSE:CTR) shares are up more than 15% today after the company announced ahead of the opening its June same-store sales rose 4% from a year ago, and the company lifted its second-quarter outlook. The Charlotte, N.C.-based women’s clothing retailer is raising its outlook for the second quarter to a profit of $0.42 to $0.44 per share, up from prior estimates of $0.28 to $0.33 a share. On average, analysts are expecting profits of $0.30 per share. The company said it was raising its second-quarter guidance because of better-than-expected sales in stores open more than a year. But the company also noted that the weak economy has put retail sales in a difficult position.

“We continue to manage inventory tightly and have experienced better sell-throughs of regular price and markdown merchandise,” said John Cato, chairman, president and CEO for The Cato Corporation.

In today’s trading, shares of The Cato Corporation are at $16.95, up $2.23 from Wednesday’s close.

The Russell 2000 (NYSE:IWM) has extended its gains following news of bullish earnings from Wal-Mart Stores, Inc. (NYSE:WMT). At 1:43 p.m. ET, the small-cap index had added 10.71 points, or 1.53%, to 709.09. The Dow Jones Industrial Average was up 109.60 points, or 0.87%, to 12,636.86.

Small caps initially moved into positive territory shortly before 10 a.m. ET, and have been gaining as investors react to news before the opening that Wal-Mart Stores, Inc. (NYSE:WMT) has raised its earnings estimates for the first quarter of fiscal 2009 to between $0.74 per share and $0.76 per share, up from a previous guidance calling for net income between $0.70 per share and $0.74 per share.

“Inventory in Wal-Mart Stores U.S. has been well-managed and has resulted in lower markdowns, expense leverage and reduced shrink,” CFO Tom Schoewe said in a statement.

A number of small-cap retailers have also come out with bullish news. After the close on Wednesday, 99 Cents Only Stores (AMEX:NDN) reported that its same-store sales . . .

The Russell 2000 (NYSE: IWM) has lost steam following news of a steeper-than-expected decline in pending U.S. home sales.

At 11:53 a.m. ET, the small-cap index had added 0.60 points, or 0.09%, to 693.09. The Dow Jones Industrial Average (INDU) was down 22.68 points, or 0.19%, to 12,177.42.

Pending home sales fell 1.5% in December, the National Association of Realtors reported after the opening.

The Washington, D.C.-based trade organization’s pending home sales index fell to a reading of 85.9 from a downwardly revised level of 87.2 in November. Economists were expecting the measure to decline 1%.

The December 2007 level is 24.2% below the year-earlier level. For of all 2007, the index is at it lowest level ever.

“Existing-home sales have moved narrowly since last September, but when the full impact of higher loan limits for conventional mortgages begins to impact the market there is likely to be a notable rise in home sales and prices,” said NAR chief economists Lawrence Yun in a statement.

News of the decline hit small-cap stocks, which dropped from their morning high above 700 points at about 10:30 a.m. ET and briefly entered negative territory at about 11 a.m. ET.

In other economic news, the day began with news that of weak January sales at U.S. retailers.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting modest declines on news of poor December retail sales.
 
At 10:57 a.m. ET, the small-cap index was down 4.72 points, or 0.66%, to 707.40. The Dow Jones Industrial Average (INDU) had lost 29.67 points, or 0.23%, to 12,705.64.

Small-cap stocks started the day in negative territory but quickly recovered as investors apparently weighed news of disappointing December retail sales against news of a government report that showed an unexpected decline in weekly jobless claims.

The bearish pre-market mood was due to news of weak December sales at the major U.S. retailers. The main culprits appear to be the early Thanksgiving holiday, which moved some shopping days to November, as well as the deep discounts that many retailers offered to lure in shoppers.

Small-cap retailers also failed to impress, with music and apparel seller Hot Topic, Inc. (Nasdaq: HOTT) reporting that December same-store sales dropped 6.2%, leading the company to lower its fourth-quarter earnings guidance.

Similarly, Watsonville, Calif.-based boating supply retailer West Marine, Inc. (Nasdaq: WMAR) announced fourth-quarter results that disappointed analysts, while Cost Plus, Inc. (Nasdaq: CPWM) said that holiday same-store sales declined.

On the bright side, apparel retailer Eddie Bauer Holdings, Inc. (Nasdaq: EBHI) announced that fourth-quarter same-store revenue rose 4.8%.

The Russell 2000 (NYSE: IWM) moved down today but the Dow Jones Industrial Average (INDU) posted a modest gain on news of reports showing a coming slowdown in U.S. economic growth. The small-cap index fell 3.98 points, or 0.52%, to 766.06. The Dow added 22.28 points, or 0.17%, to 13,311.73.

On a year-to-date basis, the Russell 2000 has lost 2.71%, while the Dow is up 6.71% and the S&P 500 has advanced 3.75%.

Stocks began the session in the red as investors worried that an economic slowdown is imminent even though gross domestic product grew at an impressive 4.9% annual rate during the third quarter of 2007, according to the Commerce Department. That’s an upward revision from the preliminary figure of 3.9%.

“The upward revision to third-quarter GDP is not all good news,” said Arun Raha, vice president of economic research and consulting for the North American operations of reinsurance company Swiss Re, in an email. “Apart from the higher-than-expected exports, we also got a higher-than-previously-estimated inventory buildup, which accounted for a large part of the increase.”

“My view on fourth-quarter growth remains pessimistic,” Raha concluded, echoing the fears of many investors.

Helping the bears control trading in the morning was news from the U.S. Labor Department that jobless claims for the week ended Nov. 24 rose 23,000 to 352,000, the highest number since February. The revised figure for the preceding week is 329,000.

The four-week moving average was 2,589,250, an increase of 20,500 from the preceding week’s revised average of 2,568,750.

“Employment is a lagging indicator, and as activity slows, we’ll see some softening in the job market,” said Raha. “The bad news on this front is yet to come.”

Bad news of a different kind came shortly after the start of trading, when the U.S. Census Bureau reported that new home sales for October missed projections. The numbers showed an increase of 1.7% to 728,000, but the total from September was revised down sharply to 716,000 from 770,000 previously.

The median sales price of new houses was $217,800, 15% cheaper compared with a year earlier, when the average new home cost $250,400.

The Russell 2000 (NYSE: IWM) is down on fears that the U.S. economy is slowing down despite news of a jump in third-quarter GDP. At 2:13 p.m. ET, the small-cap index had lost 5.38 points, or 0.70%, to 764.66. The Dow Jones Industrial Average (INDU) had added 6.34 points, or 0.05%, to 13,295.79.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported before the opening. That’s an upward revision from the preliminary figure of 3.9% and above economists’ projections of 4.8%.

Although that’s the highest quarterly growth rate in four years, investors are worried that slower growth lies ahead.

That’s in part because jobless claims for the week ended Nov. 24 rose 23,000 to 352,000, the highest number since February, according to the U.S. Labor Department before the start of trading. The revised figure for a week earlier is 329,000.

Also feeding the bears’ appetite is news that sales of new one-family houses in October came in below economists’ forecasts.

The U.S. Census Bureau reported that new home sales increased 1.7% to 728,000, but the total from September was revised down sharply to 716,000 from 770,000 previously. Economists were calling for sales of 750,000.

The numbers tell us that the slump in the housing sector is continuing and showing no signs of letting up.

The Russell 2000 (NYSE: IWM) is falling on news of a rise in weekly U.S. jobless claims and despite higher-than-expected third-quarter economic growth.

At 10:43 a.m. ET, the small-cap index was missing 2.73 points, or 0.35%, to 767.31. The Dow Jones Industrial Average (INDU) was down 22.35 points, or 0.17%, to 13,267.10.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported before the opening. That’s an upward revision from the preliminary figure of 3.9%.

Economists were expecting a slightly more modest upward adjustment to a rate of 4.8%.

The fast rate of growth was largely due to a surge in exports, which rose 18.9% instead of the initially reported
16.2%. Imports increased 4.3%, while the preliminary numbers had forecasted a rise of 5.2%.

However, consumer spending increased a less-than-expected 2.7%, a sign that American consumers are getting tired in the face of stagnating home prices and high energy costs. Consumption is about 70% of gross domestic product.

Residential fixed investment, which includes housing, fell 19.7%, reflecting the ongoing slump in the housing sector.

Despite the economy’s strong third-quarter performance, the highest quarterly pace since 2003, a sharp slowdown is still in the cards.

The U.S. Labor Department reported before the start of trading that jobless claims for the week ended Nov. 24 rose 23,000 to 352,000, the highest number since February. The revised figure for a week earlier is 329,000.

The Cato Corp. (NYSE: CTR), a specialty retailer of value-priced women's fashion apparel, this morning reported a bleak third quarter, although earnings beat Wall Street’s mean estimate by a penny.

For the third quarter ended Nov. 3, the Charlotte, N.C.-based firm recorded net income of $2.9 million, or $0.09, a penny above the consensus of three analysts polled by Thomson Financial of $0.08 per share. The current quarter’s bottom line represents a decline of roughly 50% compared with net income of $5.9 million, or $0.18 per share for the third quarter of 2006.

Sales were $181.9 million, a 3% decrease from sales of $187.7 million last year, and below the $184.8 an analyst polled by Thomson Financial was forecasting.

Comparable store sales for the quarter decreased 5%.

The company said third-quarter results reflected a difficult retail environment and as a result led to lower sales and additional markdowns. 

For the fourth quarter the company expects results will be in the range of a loss of $0.08 to $0.00 per diluted share, compared with $0.40 last year. Three analysts polled by Thomson Financial are on average projecting earnings of $0.21 per share.

The small cap said the estimate is based on comparable store sales in the range of down 7% to down 4% for the quarter.

For the year, earnings per diluted share are estimated to be in the range of $0.99 to $1.07 versus $1.62 last year. The consensus of three analysts polled by Thomson Financial is for earnings of $1.27 per share.

Shares of The Cato Corp. (CTR) were halted in pre-market trading.