Tag - Ddr

It's clear that the economy is recovering at a much slower pace than previously thought. A few key sectors of the economy are preventing a quick recovery. The first, and probably the most important, is the labor market. In Ben Bernanke's late August update on the state of the US economy he had this to say about the labor market:

"Incoming data on the labor market have remained disappointing. Private-sector employment has grown only sluggishly".

A recent report from the Labor Department stated that the private sector added 67,000 jobs in August, up from the 40,000 economists had previously estimated.

Small-cap stocks continued to grind higher into midday, with energy, real estate trusts and financial shares showing the way. A recovery bounce in crude oil and oversold conditions on energy stocks sparked money flow into that arena and provided a lift to the overall market. Some of today’s small-cap gainers were Developers Diversified Realty Corp.  (NYSE:DDR), BigBand Networks Inc. (Nasdaq:BBND) and Union Drilling Inc. (Nasdaq:UDRL).

Other Market Watch highlights today included:

• Bernanke said this morning that TARP funds should be directed toward toxic mortgage-backed assets, relieving many traders.  
• On the commodities scene, gold climbed and copper reversed a big overnight decline in Asia to trend higher.
• Energy stocks appeared to get a lift from a recovery rally in crude oil futures, which reversed a $1 per barrel decline in overnight trading.  
• The worst performers were electronic component makers, aluminum stocks, tire companies, industrial conglomerates and auto manufacturers

Small Cap Gainers:

• Small-cap REIT Developers Diversified Realty Corp. soared 18% as the shopping center management firm recovered from steep losses Monday. See (NYSE:DDR).
• BigBand Networks Inc. rallied 17% as investors appeared to be taking a stab that the video networking solutions firm will announce decent earnings Thursday afternoon. See (Nasdaq:BBND).  
• Among the various energy companies in rally mode today, natural gas firm Union Drilling Inc. was up 13%. See (Nasdaq:UDRL).

Small Cap Losers:

• Cepheid gapped lower and fell 18% gene analysis firm reported earnings that didn’t match up with investor expectations. See (Nasdaq:CPHD).  
• Prestige Brands lowers guidance; stock slumps over 13%. See (NYSE:PBH).   
• AMB Property Corp. slipped 8% as the firm made some dividend announcements. See (NYSE:AMB).  
• Liz Claiborne lowers view, inks credit amendment; stock slides 4%. See (NYSE:LIZ).  

Small-cap stocks continued to grind higher into midday, with energy, real estate trusts and financial shares showing the way. A recovery bounce in crude oil and oversold conditions on energy stocks sparked money flow into that arena and provided a lift to the overall market. At 12:33 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.54, or 1.40%, at 475.34.

Looking at S&P groups so far today, the best performers were often linked to real estate, with REITS and real estate services firms posting solid gains. Small-cap REIT Developers Diversified Realty Corp. (NYSE:DDR) soared 18% as the shopping center management firm recovered from steep losses Monday. Homebuilders were also outperforming the broad market as investors looked for bargains along the real estate and construction theme.

The market was clearly divided today, with several S&P groups also posting solid declines through mid-session. The worst performers were electronic component makers, aluminum stocks, tire companies, industrial conglomerates and automobile manufacturers.

Small caps making a big move today included BigBand Networks Inc. (Nasdaq:BBND), which rallied 17% as investors appeared to be taking a stab that the video networking solutions firm will announce decent earnings Thursday afternoon. Among the various energy companies in rally mode today, natural gas firm Union Drilling Inc. (Nasdaq:UDRL) was up 13%.

Energy stocks appeared to get a lift from a recovery rally in crude oil futures, which reversed a $1 per barrel decline in overnight trading to rise about $1 dollar in U.S. trading, lifted by reports that Saudi Arabia plans to lower production even beyond the OPEC target to stabilize prices. Elsewhere on the commodities scene, gold climbed and copper reversed a big overnight decline in Asia to trend higher.

Some traders were relieved to hear Federal Reserve Chairman Ben . . .

Developers Diversified Realty REIT (Nasdaq:DDR), Union Drilling Inc. (Nasdaq:UDRL) and TF Financial Corp. (Nasdaq:THRD) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: InterOil Corp. (Nasdaq:IOC), BigBand Networks Inc. (Nasdaq:BBND), MedAssets Inc. (Nasdaq:MDAS), Force Protection Inc (Nasdaq:FRPT), Och Ziff Capital Management Group (Nasdaq:OZM) and Macquarie Infrastructure Co. LLC (Nasdaq:MIC).

Landrys Restaurants Inc. (Nasdaq:LNY), Zep Inc. (Nasdaq:ZEP) and Hiland Partners LP (Nasdaq:HLND) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Forest City Enterprises (Nasdaq:FCE.A), Developers Diversified Realty REIT (Nasdaq:DDR), Patriot Coal Corp. (Nasdaq:PCX), Century Aluminum Co. (Nasdaq:CENX), Simcere Pharmaceutical Group (Nasdaq:SCR) and Danaos Corp. (Nasdaq:DAC).

A fresh batch of economic data today was predictably awful, with the New York Manufacturing Survey . . .

Small-cap stocks started out the week with a whimper as bleak manufacturing data, sinking financial and homebuilder shares and money flow away from equities took a toll on the market. The Russell 2000 (NYSE:IWM) closed down 15.86, or 3.39%, at 452.57 and is now down 41% for the year, while the Dow is off 35% and the S&P 500 down 41%.

Bank and financial shares have been a persistent drag on the market in recent days. The big news on the banking front today was an analyst downgrade on JP Morgan Chase and Co. (NYSE:JPM), which pulled down the rest of the financial universe. JPM shares lost 7.4% on the day, and the Financial Select Sector SPDR was off 4.1%. The market also was reluctant to buy bank and financial stocks ahead of earnings releases from Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS); both firms lost some 1% on the day. Treasury market yields tumbled some 2% on the day, indicating that money was moving toward safe-haven outlets in concert with the weak tone in equities.

A fresh batch of economic data today was predictably awful, with the New York Manufacturing Survey sinking to a record low and the industrial production report showing a decline of 0.6%. That said, both of the reports were actually better than forecast and a much worse reading on manufacturing overnight in Japan didn’t stop the Nikkei from rising 5.2%, so it would be presumptuous to blame today’s . . .

Small-cap stocks extended the morning slide into midday trading, with financial, tech and homebuilder shares overpowering gains in energy and commodity names. Analyst downgrades for key companies in the financial and technology arenas played a role in magnifying worries about consumer spending and the never-ending credit crisis. Some of today’s small-cap gainers are Wachovia Securities (NYSE:MTN), Excel Maritime Carriers (NYSE:EXM) and Teck Cominco (Nasdaq:TCK).

Other Market Watch highlights today included:

• Crude oil prices were up some $3/barrel into the open, pushing back above the key $50 level ahead of an OPEC meeting later this week.  
• Energy markets were on firm footing this morning, which should provide a lift to energy-related stocks.  
• European shares were basically flat heading into the U.S. open, but Asian markets were in rally mode overnight.  
• Hopes for a quick package to keep U.S. carmakers away from bankruptcy played a big role in overnight gains in Asian trading. 

Small Cap Gainers:

• Wachovia Securities upgrades Vail Resorts to "outperform;" shares pop 15%. See (NYSE:MTN).  
• Excel Maritime Carriers up 13% on heavier-than-average volume. See (NYSE:EXM). 
• Teck Cominco up 12% after reporting it will suspend operations at its Pend Oreille zinc mine. See (NYSE:TCK).  
• Sims Metal Management climbs 8% after the small cap signed a 20-year deal with New York City to process the city's recyclables, with a 20-year renewal clause. See (NYSE:SMS).  

Small Cap Losers:

• Developers Diversified Realty says asset deal not closed, will not close in December as it had previously hoped. Shares tumble 15%. See (NYSE:DDR).  
• Hexion Specialty Chemicals, Inc. announces termination of merger with Huntsman Corp.; shares of HUN collapse 43%. See (NYSE:HUN).
• Real-estate developer Forest City Enterprises is down 12% after saying it will halt new projects, focus on reducing debt and managing existing real-estate portfolio. See (Nasdaq:FCE.A).  
• Fitch downgrades M/I Homes' IDR to 'B'; outlook negative. Shares of MHO are trading over 11% lower. See (NYSE:MHO).  

Small-cap stocks extended the morning slide into midday trading, with financial, tech and homebuilder shares overpowering gains in energy and commodity names. Analyst downgrades for key companies in the financial and technology arenas played a role in magnifying worries about consumer spending and the never-ending credit crisis. At 12:21 p.m. ET, the Russell 2000 (NYSE:IWM) was down 11.08, or 2.36% at 457.35.

On the banking/financial front, analysts downgraded JP Morgan Chase and Co. (NYSE:JPM) and the firm was one of the major drags on large-cap indices, sinking some 6.8% and spreading selling in financial firms throughout the market. Analysts also downgraded Apple Inc. (Nasdaq:AAPL), which tumbled nearly 4% and sparked a slide throughout the technology arena. The tech-laden Nasdaq 100 was down 2.2% at mid-session, about double the percentage losses seen in the S&P 500 and Dow.

The Treasury Department announced it was reviewing information from the auto industry and providing regular updates to the White House, which kept enthusiasm for some kind of bailout for U.S. automakers running high. Even though the overall market was falling today, shares in General Motors Corp. (NYSE:GM) were up 5.5%, while Ford Motor Co. (NYSE:F) was up 3.6%.

Small-cap stocks were holding ground into mid-session, buoyed by hope for a White House rescue for automakers and by a bounce in tech stocks, real estate investment trusts, homebuilders and gold stocks, which helped counter ongoing weakness in the financial arena. At 12:32 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.18, or 0.93%, at 455.39, even though the Dow and S&P 500 were both in negative territory.

On the auto front, the White House appears ready to throw a lifeline to cash-strapped firms via the TARP funds, which have previously been utilized primarily in the banking arena. President-elect Obama also stated that he was disappointed that the Senate shot down a $14 billion bailout bill and the hoped the White House and Congress will find a way to help beleaguered U.S. automakers. As it became apparent some type of emergency bridge loan or funding proposal would more than likely take place quickly, shares in both General Motors Corp. (NYSE:GM) and Ford Motor Co. (NYSE:F) rallied hard off the morning lows. In fact, Ford climbed into positive ground, after sinking some 26% earlier in the day.

The resilient rise in small caps was a welcome sign after stock index futures tumbled 4% overnight when the Senate first squashed the automaker bill. Real estate investment trusts (REITS) were on a serious roll today, with small-capper Prologis (NYSE:PLD) jumping 26%, reversing a big slide from Thursday. Small-cap firm Apartment Investment & Management Co. (NYSE:AIV) was up nearly 7% and Developers Diversified Realty Corp. (NYSE:DDR) jumped 11% -- all of these companies were hammered Thursday and were in correction mode today.

On the homebuilder front, small-cap firm Centex Corp. (NYSE:CTX) rose 4%, KB Home (NYSE:KBH) was up 4% as well and Lennar Corp. (NYSE:LEN) was up 5%. Homebuilder shares were a hot ticket last week when mortgage applications shot to the highest point since February, but they cooled off this week until . . .

Small-cap stocks pushed higher into mid-session, supported by gains in airlines, retailers and energy stocks. Small-caps were firm relative to large-cap stocks which were pulled down by big financials and tech companies.Today's biggest small-cap gainers are Theravance Inc. (Nasdaq:THRX), Targanta Therapeutics Corp. (Nasdaq:TARG) and General Motors (NYSE:GM).

Other Market Watch highlights included:

• The U.S. dollar was down more than 1% against the euro, which also helped the tone in commodity stocks.  
• Crude oil prices pulled higher amid talk of OPEC cuts and the hijacking of a big Saudi oil freighter.  
• Financial shares continue to be a drag on large-cap indices, with the Financial SPDR Fund off about 2%.  
• The market was sharply divided today, with strong gains seen for several sectors, but big losses offsetting in other sectors, which had cumulative effect of keeping index movement relatively stable. 

Small Cap Gainers:

• Theravance Inc. climbed 15% as the company said that a skin infection drug showed capability to fight deadly bacteria See (Nasdaq:THRX).  
• Targanta Therapeutics Corp. jumped 34% on news that an FDA committee will review the firm’s new application for skin infections. See (Nasdaq:TARG).  
• General Motors Corp. is up about 11% as the automaker continues to benefit from expectations that the U.S. government will extend a helping hand to carmakers. See (NYSE:GM).  
• First stores open at Developers Diversified Realty's Homestead Pavilion late last week; shares up 8% today. See (NYSE:DDR).

Small Cap Losers:

• Central European Media Enterprises Ltd. slumped 21%, tumbling to fresh 52-week lows following analyst downgrades last week. See (Nasdaq:CETV).  
• Horizon Lines down nearly 10% following last week's news that the company would cut fuel surcharges by 5.5%. See (NYSE:HRZ).  
• Allied Capital Corporation down 12% today after analysts said last week that the company faces liquidity issues. See (NYSE:ALD).  
• Live Nation Inc. treads 16.4% lower today as recession fears continue to hurt the ticket industry. See (NYSE:LYV).

Developers Diversified Realty REIT (Nasdaq:DDR), Telecom Argentina ADR (Nasdaq:TEO) and Kindred Healthcare Inc. (Nasdaq:KND) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Group 1 Automotive, Inc. (Nasdaq:GPI), Federal Mogul Corp. (Nasdaq:FDML), Dillard's Inc. (Nasdaq:DDS), Banco Macro SA (Nasdaq:BMA), Silver Standard Resources Inc. (Nasdaq:SSRI) and Hiveld Steel Depository Receipt (Nasdaq:HSVLY).

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

The Russell 2000 (NYSE:IWM) staged an impressive start to the week, closing up 3.88% on Monday. Today’s small-cap gainers are Landrys Restaurants (NYSE:LNY), WebMD (Nasdaq:WBMD) and McMoRan (NYSE:MMR).

Other Market Watch highlights today included:

• The Russell is now down 29% for the year, while the Dow is off 30% and the S&P 500 is down 33%.
• Small caps lagged large caps today even on the rally, which is a little bit of concern as the same pattern was evident on the recent collapse.
• Techs lagged throughout the day. If the money to invest in tech is choked off, then the risk appetite for smaller-cap stocks is likely to suffer as well.
• Sectors on the rise today include coal stocks, oil equipment and oil services, oil exploration, oil and gas storage, steel, oil refiners, gas utilities, industrial gases and power products.
• On the downside, broadcast and cable TV stocks were lower, as . . .