Tag - Elon

Park-Ohio Holdings Corp. (Nasdaq:PKOH), Ocean Shore Holding Co. (Nasdaq:OSHC) and US Global Investors Inc. (Nasdaq:GROW) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Female Health Co. (Nasdaq:FHCO), La-Z-Boy Inc. (Nasdaq:LZB), Echelon Corp. (Nasdaq:ELON), Elbit Imaging Ltd. (Nasdaq:EMITF), Culp Inc. (Nasdaq:CFI) and SmartHeat Inc. (Nasdaq:HEAT).

Stocks mostly fell today as the market rally is showing signs of losing steam. Indeed investors seemed cautious on back-to-back bad news from consumer confidence falling to 65.7 from 66.0 in July and initial unemployment claims for last week were 570,000.

The Dow ended the day at 9,544, down 36 points; the Nasdaq finished at 2,029, up just over a point; and the S&P 500 stood at 1,029, down 2 points.

Advances and declines were about evenly matched on the NYSE and Amex while declines lead advances 5 to 3 on the Nasdaq.

The Russell 2000, a composite index of the 2,000 leading small-cap stocks as defined by Russell Investments, closed at 58X, down 2 points.

Small-cap leaders trading over 1 million shares include Helios BioSciences (Nasdaq:HLCS), up 20%; Echelon Corporation (Nasdaq:ELON), down 22%; Curis (Nasdaq:CRIS), up 20%; and Glu Mobile (Nasdaq:GLUU), up 20%

*****The New York Times article is titled "AIG Rises, and Many Ask Why". After all, the company is 80% owned by the government, owes around $180 billion, is cash-flow negative and would be in even worse shape were it not for accounting changes that help it keep toxic mortgage assets unfairly valued.

And to top it off, the company is actively seeking buyers for its best business units, which will impair its ability to earn its way back to health.

Why would anyone buy this stock? Simple. This is the Cash for Clunker Stock Rally. The worse your balance sheet is, the higher your stock price will go. AIG's stock price has quadrupled in a month. Indeed, yesterday it was the most active stock with 149 million shares traded; six times more than the next highest traded stocks on the NYSE (those would be HIG and NOK at about 23.5 million each). And AIG's volume yesterday was nearly five times its 50-day average volume. That's simply amazing.

But it goes to show you with cheap money and a government guarantee that there is no risk in the financial markets.

*****I can only imagine how Mr. Otelli and crew feel over at Intel (Nasdaq:INTC). Intel is very well run business. So far as I know, it never invested in mortgage back securities and didn't engage in any activity that could be considered a threat to the American economy.

In fact, one could argue the exact opposite - that the productivity gains America has enjoyed from computing power are a direct result of Intel's innovation. Of course, that didn't prevent Intel's stock from getting cut in half after the actions of AIG and its ilk brought the U.S. economy to its knees.

Today, Intel raised its revenue estimates for the current quarter, a sign that the company is weathering the difficult economic environment admirably. Investors have rewarded the company with a 5% move higher for the stock.

Of course, AIG was up 13% in the early going this morning.

Clearly, it's better to be a complete disaster of a company these days.

*****Yesterday, the Dow Industrials were off nearly 100 points in the early going, as initial jobless came in worse than expected and second quarter GDP couldn't be massaged to show anything better than the 1% decline economists were expecting.

By the end of the day, the Dow was up 40 points. "Buy the dips" is the mantra for the Cash for Clunker Stock Rally. 

I'm starting to feel a little sorry for the bears, who think every red tick is the start of the massive correction they expect any day now. But with money as cheap as it is, and a government hell-bent on supporting asset prices, it's hard to imagine a significant correction without some kind of shock to the system.

Of course, the Cash for Clunker Stock Rally will end at some point. But it would not be wise to bet on when. After all, a market can remain irrational longer than you (or I) can remain solvent.

*****Now, please enjoy TradeMaster Daily Stock Alerts Jason Cimpl and his weekly video chart analysis. It's online now and Jason once again shares with you his synopsis of this week's trading activity and gives you his prognostication for next week's market movements. CLICK HERE for his video.

Until tomorrow,

Ian Wyatt
Editor
Small Cap Investor Daily

P.S. - I received even more emails overnight about my Recovery Portfolio service. Seems like a lot of investors are interested but just keep losing the link. That's fine. Here's the link to my Recovery Portfolio service and how I'm turning $100,000 to $250,000 in the next 4 years. CLICK HERE. I also explain why its $100,000 and not something absurd like $1,000,000 and give you an opportunity to get my new report on 5 outstanding funds that Financial Advisors aren't sharing with their clients (shame on them, but good for you). CLICK HERE for Recovery Portfolio.

P.P.S. My book The Small-Cap Investor: Secrets to Winning Big with Small-Cap Stocks is coming out on September 14 - visit www.smallcapbook.com to learn more. You can also follow me on http://twitter.com/ianwyatt 

Ian Wyatt is the Chief Investment Strategist of SmallCapInvestor.com and author of The Small-Cap Investor: Secrets to Winning Big with Small-Cap Stocks. You can learn more about his book and receive small-cap stock picks at www.smallcapbook.com.

Trubion Pharmaceuticals Inc. (Nasdaq:TRBN), Echelon Corp. (Nasdaq:ELON) and Stewardship Financial Corp. (Nasdaq:SSFN) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Poniard Pharmaceuticals Inc. (Nasdaq:PARD), Aruba Networks Inc. (Nasdaq:ARUN), OncoGenex Pharmaceuticals Inc. (Nasdaq:OGXI), OmniVision Technologies Inc. (Nasdaq:OVTI), Martha Stewart Living Omnimedia Inc. (Nasdaq:MSO) and Sinovac Biotech Ltd. (Nasdaq:SVA).

Echelon Corp. (Nasdaq:ELON), Ocwen Financial Corp. (Nasdaq:OCN) and Hutchinson Technology Inc. (Nasdaq:HTCH) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Chindex International Inc. (Nasdaq:CHDX), ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), Haverty Furniture Co Inc. (Nasdaq:HVT), Crocs Inc. (Nasdaq:CROX), Bank of Commerce Holdings (Nasdaq:BOCH) and Pioneer Drilling Company (Nasdaq:PDC).

Sequenom Inc. (Nasdaq:SQNM), Crocs Inc. (Nasdaq:CROX) and Oncothyreon Inc. (Nasdaq:ONTY) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: UAL Corp. (Nasdaq:UAUA), Mellanox Technologies Ltd. (Nasdaq:MLNX), LogMeIn Inc. (Nasdaq:LOGM), JA Solar Holdings Co Ltd. (Nasdaq:JASO), Echelon Corp. (Nasdaq:ELON) and China Fire & Security Group Inc. (Nasdaq:CFSG).

Consolidated Water Co Ltd. (Nasdaq:CWCO), SYNNEX Corp. (Nasdaq:SNX) and RXi Pharmaceuticals Corp. (Nasdaq:RXII) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: United Rentals Inc. (Nasdaq:URI), DryShips Inc. (Nasdaq:DRYS), Echelon Corp. (Nasdaq:ELON), Lululemon Athletica Inc. (Nasdaq:LULU), Plantronics Inc. (Nasdaq:PLT) and Young Innovations Inc. (Nasdaq:YDNT).

<strong>Perfumania Holdings Inc.</strong> (Nasdaq<a href="/ticker/perf">:PERF</a>),<strong> FirstFed Financial Corp.</strong> (Nasdaq:<a href="/ticker/fed">FED</a>) and <strong>Orthofix International NV</strong> (Nasdaq:<a href="/ticker/ofix">OFIX</a>) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.<br /> <br /> Also included among the results:<strong> Savient Pharmaceuticals Inc.</strong> (Nasdaq:<a href="/ticker/svnt">SVNT</a>), <strong>Echelon Corp</strong>. (Nasdaq:<a href="/ticker/elon">ELON</a>), <strong>Excel Maritime Carriers Ltd. </strong>(Nasdaq:<a href="/ticker/exm">EXM</a>), <strong>Frontier Financial Corp.</strong> (Nasdaq:<a href="/ticker/ftbk">FTBK</a>), <strong>Consolidated Water Co Ltd. </strong>(Nasdaq:<a href="/ticker/cwco">CWCO</a>) and <strong>American Reprographics Co. </strong>(Nasdaq:<a href="/ticker/arp">ARP</a>).<br /> <br /> Here are the biggest percentage losers among small caps:

Echelon Corporation (Nasdaq:ELON) shares are tumbling 16% after the company reported ahead of the opening a wider second quarter loss and lowered its full-year guidance. For the period ended June 30, net loss was $7.1 million, or $0.17 per share, compared to a net loss of $5.3 million, or $0.13 per share, for the same quarter a year earlier. For the full year, the San Jose, Calif.-based company expects revenues of $149 million, down from previous estimates of $178 million.

“Of course, we are disappointed to be reducing our revenue outlook for the year. This reduction is not related to projects that we have lost — we have not lost any of the opportunities in our plan — nor is it due to the macro-economic environment. It is simply due to utility decisions taking longer than we had forecast. That is the unfortunate nature of this newly emerging market — it is very hard to predict when decisions will be made,” said Ken Oshman, chairman and CEO, in a statement.

Shares of the electric utility manufacturer are at $10.53 at 10:56 a.m. ET, down $2.14 from Tuesday’s close. Shares have ranged from $9.91 to $32.49 during the past year.

The Russell 2000 (NYSE: IWM) has bounced back after falling into the red on news of a decline in pending U.S. home sales. At 1:23 p.m. ET, the small-cap index had climbed 4.68 points, or 0.68%, to 697.17. The Dow Jones Industrial Average (INDU) was up 18.94 points, or 0.16%, to 12,219.04.

Small-cap stocks are again posting solid gains after a brief foray into negative territory on news that December pending home sales declined a more-than-expected 1.5%, according to the National Association of Realtors.

That brought out the bears and the Russell 2000 dropped into negative territory at about 11:30 a.m. ET.

But stocks didn’t stay down for long, even though today’s economic news shows a weaker-than-expected drop in weekly jobless claims and poor retail sales in January.

One of the top gainers among small-cap companies is computer hardware marketer PC Mall, Inc. (Nasdaq: MALL), which is surging on news that fourth-quarter profit more than doubled.

Shares of network infrastructure products maker Echelon Corp. (Nasdaq: ELON) are also rising on news that fourth-quarter revenue jumped more than 300%.

On the flip side, EarthLink, Inc. (Nasdaq: ELNK) posted a net loss but shares of the Internet service provider are nevertheless rising because the result represents a narrowing compared to a wider loss a year earlier.

The Russell 2000 (NYSE: IWM) futures are pointing down and the small-cap index will likely open in the red on news of more credit problems.

Wachovia Corp. (NYSE: WB) got the bears ready when it announced this morning that it expects to suffer additional losses of $1.1 billion due to the problems in the subprime mortgage sector. The Charlotte, N.C.-based bank, the fourth largest U.S. bank, said that it will write down collateralized debt obligations of about $1.11 per share for the month of October.

In economic news, the U.S. Commerce Department reported that the trade deficit unexpectedly narrowed in September. The deficit came to $56.5 billion, a decline of 0.6% from $56.8 billion in August. A weak dollar and strong growth overseas helped lift exports.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Echelon Corp. (ELON), up 9%.
• Hutchinson Technology Inc. (HTCH), up 8% on news of a rise in fiscal fourth-quarter profit.
• Superconductor Technologies Inc. (SCON), up 7% on news of a joint venture with Hunchun BaoLi Communications Co. Ltd. (BAOLI).

Biggest percentage losers:

• Jones Soda Co. (JSDA), down 19% on news of a third-quarter loss.
• Isilon Systems Inc. (ISLN) down 16% on news it delayed its third-quarter earnings report.
• DTS Inc. (DTSI) down 15% on news that third-quarter results missed expectations.