Tag - Gro

Stocks are fluctuating during Wednesday trading on mixed economic signals and earnings reports.

At 1:03 pm ET, the Russell 2000 (NYSE:IWM) is up 0.92% at 457.41, while the Dow is up 0.86% and the S&P 500 is up 0.48%.

New government data out illustrated further signs of a slowing economy. The Federal Reserve reported that production at the nation’s factories, mines and utilities fell 1.5% in March — the fifth consecutive month of decline and worse than the 1% drop originally projected. Also, the Labor Department reported consumer prices fell 0.1% last month as a drop in energy prices offset the biggest rise in tobacco prices in more than a decade.

Despite the downtrodden data, small cap oil company Delta Petroleum (Nasdaq:DPTR) is up 14% and Agria Corp. (NYSE:GRO) is climbing 12%, both on slightly lower-than-average volume.

******I hate to keep talking oil here, but the sticky stuff is a great proxy for what’s going on with the economy and the financial markets. On the one hand, demand is down considerably, even OPEC has cut production and inventories are rising to the point that some analysts are saying “…we’re swimming in the stuff…”

Oil prices have been as low as $35 in the last couple of months – an inconceivable price just 6 six months ago.

But at the same time, investors fully understand that oil is absolutely indispensable to global economic growth. And alternative energy sources will not be affecting . . .

Stocks are treading lower today, paring some of the recent gains seen in the last two weeks.

At 1:44 pm ET, the Russell 2000 (NYSE:IWM) is down 13.21, or 2.97%, at 432.09, while the Dow is down 2.07% at 7,760.17 and the S&P 500 is down 2.14% at 815.06.

Tech stocks led the decline as did energy stocks, which fell along with the price of oil. Earlier this morning, large-cap benchmark Google Inc. said it is laying off nearly 200 workers, while technology consulting and outsourcing firm Accenture lowered its outlook for the quarter and the year.

Declining oil prices sapped demand for energy stocks. Oil fell below $53 a barrel Friday, a day after hitting a high for the year, as investors worried that crude's recent gains aren't sustainable amid lingering doubts about the economy.

Small caps higher today include China Direct (Nasdaq:CDII), climbing nearly 10% today after announcing they would hold a conference call to discuss financial results for the year ended Dec. 31, 2008. Chinese small cap Agria Corporation (NYSE:GRO) is also up 8% today after the company promoted Raymond Lo to acting CFO after announcing the resignation of former CFO Gary Yeung.

******I’m fond of saying “never underestimate the American consumer.” Retail sales for February came in with a 0.2% rise, even though income fell 0.2%. Stocks look ready to sell off, but it’s not a response to retail sales. The indices have come a long way over the past two weeks, and it’s time for a little profit-taking.

I still believe that “buy the dips” is the appropriate strategy for the current rally. Of course, I’m talking about taking short- to medium-term positions. For . . .

Shares of Agria Corp. (NYSE:GRO) are getting pummeled in pre-market trading after the Chinese agricultural company said it clocked a fourth-quarter loss from the year-ago period and posted disappointing first-quarter results.

The small cap said first-quarter revenues declined quarter-over-quarter due to a 77% drop in revenue in its sheep breeding segment. Agria also recorded a loss in the first quarter, compared with net income in the first quarter of 2007.

The company also warned that it expects second-quarter revenues to decline from the year-ago quarter.

Shares slumped 23%, or $1.53, to $5.10 in pre-market trading. For detailed price information and recent news stories about Agria, click GRO.

Bank of Commerce Holdings (Nasdaq:BOCH), Aristotle Corp (Nasdaq:ARTL) and SunLink Health Systems Inc (Nasdaq:SSY) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Internet Initiative Japan Inc (Nasdaq:IIJI), US Global Investors Inc (Nasdaq:GROW) and Johnson Outdoors Inc (Nasdaq:JOUT) are also among the biggest percentage gainers.

OMNI Energy Services Corp (Nasdaq:OMNI), Agria Corp (Nasdaq:GRO) and Converted Organics Inc (Nasdaq:COIN) were additionally included among the results.

Here are the biggest percentage gainers among small caps:

After briefly surging in morning trading, small-cap stocks sagged in afternoon trading. A drop in crude oil prices, positive factory orders data and comments by Federal Reserve Chairman Ben Bernanke encouraged buyers, but bearish comments by hedge fund investor George Soros gave investors pause. At 2:23 p.m. ET, the Russell 2000 (NYSE:IWM) was down 7.10, or 0.96%, at 733.92.

Bernanke indicated that the Fed will not increase interest rates again until the housing market stabilizes. The chairman also said financial markets have improved but are still strained.

"We are attentive to the implications of changes in the value of the dollar for inflation and inflation expectations and will continue to formulate policy to guard against risks to both parts of our dual mandate," Bernanke said.

Bernanke’s comments sparked a reversal in the American dollar’s value against the euro. In recent trading, the U.S. dollar rose against the euro to $1.5454 from Monday’s close of $1.5539. The greenback was also up against the yen. The U.S. Dollar Index, which measures the dollar against six foreign currencies, was up 0.6% in Tuesday afternoon trading.

The factory orders report came out at 10:00 a.m. ET, with the headline figure at plus 1.1%, beating the median forecast for a dip of 0.1%.

Crude oil futures were down to $125.60 a barrel.

Broad market sectors experiencing a sell-off include motion picture services, aerospace and defense capital goods, metal mining materials, home improvement service retailers and railroad transportation. On the upside, computer storage device, airlines, footwear, and audio and video equipment companies were attracting . . .

Agria Corp (Nasdaq:GRO), Royale Energy Inc (Nasdaq:ROYL) and Vascular Solutions Inc (Nasdaq:VASC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

OMNI Energy Services Corp (Nasdaq:OMNI), VNUS Medical Technologies Inc (Nasdaq:VNUS) and Cheniere Energy Inc (Nasdaq:LNG) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

The Russell 2000 (NYSE:IWM) closed lower as fears of a slowing economy and its ripple effects spooked investors. The small-cap index fell 0.76 points, or 0.11%, to 711.92. The Dow Jones Industrial Average let go 35.99 points, or 0.29%, to 12,576.44.

On a year-to-date basis, the Russell 2000 has shed 7.06%, while the Dow has declined 5.19% and the S&P 500 is down 7.00%.

“Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market,” thought members of the U.S. Federal Reserve, according to minutes from its March 18 meeting released after the opening.

The Fed then decided to lower its target interest rate 0.75% to 2.25%. The minutes tell us that the majority of officials considered a deep . . .

Globalstar, Inc. (Nasdaq:GSAT), Agria Corp. (NYSE:GRO) and Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) were among the new 52-week lows established during Tuesday's trading among companies with market capitalizations or values under $750 million.

Boise Inc. (NYSE:BZ), Merrimac Industries (AMEX:MRM) and PC Connection, Inc. (Nasdaq:PCCC) were also among the 52-week small-cap lows.

Here are today's 52-week small-cap lows:

Agria Corp. (NYSE:GRO), XTENT, Inc. (Nasdaq:XTNT) and Boise Inc. (NYSE:BZ) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $750 million.

Globalstar, Inc. (Nasdaq:GSAT), Columbia Bancorp (Nasdaq:CBBO) and TGC Industries, Inc. (Nasdaq:TGE) are also among the top small-cap percentage losers.

Here are Tuesday's biggest percentage losers among small caps:

The Russell 2000 (NYSE:IWM) has fallen into negative territory after a period of fluctuation. At 1:51 p.m. ET, the small-cap index was down 2.38 points, or 0.33%, to 710.30. The Dow Jones Industrial Average was down 40.06 points, or 0.32%, to 12,572.37.

Small-cap stocks began descending at about 1 p.m. ET after spending the previous two hours trading near the flat line despite bearish news.

Aluminum producer Alcoa Inc. (NYSE:AA) reported before the opening that first-quarter profit declined to $0.44 per share from $0.79 per share a year earlier. The news led to worries that corporate earnings will be negatively affected by the economic slowdown.

Separately, after the start of trading the National Association of Realtors announced that pending sales of previously owned homes fell 1.9% in February, worse than the projected decline of 0.7%. The measure, considered a barometer . . .

The Russell 2000 (NYSE: IWM) is up on news that existing home sales fell less than expected in January.

At 1:31 p.m. ET, the small-cap index had added 2.04 points, or 0.29%, to 697.47. The Dow Jones Industrial Average (INDU) was up 28 points, or 0.23%, to 12,409.02.

Sales of existing homes fell 0.4% to an annualized rate of 4.89 million units, down from an upwardly revised 4.91 million units in December, the National Association of Realtors reported after the opening.

Economists were expecting to see a fall to an annual rate of 4.80 million units. The inventory of homes climbed 5.5%, while the national median home price fell 4.6% to $201,100.

“Subprime loans and other risky mortgage products have virtually disappeared from the marketplace, and over the past five months, this has been reflected in soft but fairly stable home sales,” said NAR chief economist Lawrence Yun in a statement.

News of the smaller-than-expected decline brought out the bulls, and stocks small and large have been in the green ever since 10 a.m. ET.

Shares of Hoku Scientific, Inc. (Nasdaq: HOKU) are rising on news that the Kapolei, Hawaii-based clean energy company will raise about $25 million through a securities purchase agreement.

Meanwhile, Mobile Mini, Inc. (Nasdaq: MINI), which provides portable solutions, has agreed to merge with Mobile Services Group for about $701.5 million. Tempe, Ariz.-based Mobile Mini will have to assume about $535 million in debt from Mobile Services.

Elsewhere, agriculture products provider Agria Corp. (NYSE: GRO) expects fourth-quarter revenue in the higher end of its guidance.

Agria Corp. (NYSE: GRO) shares are rising after the provider of agriculture products announced that it projects fourth-quarter revenue in the higher end of its guidance.

The China-based company expects quarterly revenue in the range of $31.8 million to $33.8 million, which would represent a growth of 60% to 70% over last year’s fourth quarter. Agria said strong corn seed sales fueled growth and that snow storms did not cause a material boost in sheep deaths.

"We are pleased with the success in our business and continue to expect we will achieve annual revenue growth above 25% in 2008 compared to 2007 based on current order forecasts and market expectations,” co-CEO Kenneth Huang said in a statement. “The opportunities in front of us for revenue and profit growth remain vast.”

In morning trading, GRO shares are up 12.40%, or $0.94, at $8.52. Over the last 52 weeks, shares have ranged from $6.05 to $17.

The Russell 2000 (NYSE: IWM) is rising despite news of another decline in home sales.

At 10:18 a.m. ET, the small-cap index was up 5.73 points, or 0.82%, to 701.16. The Dow Jones Industrial Average (INDU) had advanced 41.92 points, or 0.34%, to 12,422.92.

Small-cap stocks briefly opened positive on speculation that several banks will announce a $3 billion bailout plan for bond insurer Ambac Financial Group, Inc. (NYSE: ABK) so that the New York-based company will be able to keep its credit rating.

But the initial rise was short-lived and within minutes the Russell 2000 was in the red. The index rebounded shortly after 10 a.m. ET following news that existing U.S. home sales fell 0.4% in January to an annualized rate of 4.89 million units.

That’s the sixth consecutive monthly drop. December’s pace was an upwardly revised 4.91 million units.

Shares of DTS, Inc. (Nasdaq: DTSI) are higher following news that the Agoura Hills, Calif.-based provider of entertainment technology was upgraded by an analyst.

On the flip side, wireless communications software products and services provider Smith Micro Software, Inc. (Nasdaq: SMSI) had its target price reduced to $11 from $20.

Meanwhile, Agria Corp. (NYSE: GRO), which produces and sells agricultural products, said before the start of trading that it expects revenues for the fourth quarter of 2007 to reach be at the high-end of prior guidance. The Chinese company had previously announced that it expects revenues between $31.8 million and $33.8 million.

The Russell 2000 (NYSE: IWM) and the Dow snapped a two-day losing streak to post solid gains on news of positive economic reports. The small-cap index added 13.58 points, or 1.81%, to 765.64. The Dow Jones Industrial Average (INDU) climbed 196.23 points, or 1.48%, to 13,444.96.

On a year-to-date basis, the Russell 2000 has lost 2.77%, while the Dow has gained 7.78% and the S&P 500 has advanced 4.83%.

The bulls owned the session today following news of a greater-than-expected rise in third-quarter U.S. productivity.

The Labor Department reported that non-farm U.S. productivity increased at an annualized rate of 6.3% during the third quarter, which is above the initially reported increase of 4.9% and the largest productivity gain in four years. Economists were expecting to see a narrower increase. Productivity rose 2.2% during the second quarter.

The same report also showed that unit labor costs, the cost of worker compensation and benefits per unit of manufactured output, declined 2%.

Unit labor costs are a key measure of inflation because if a rise in labor costs is not matched by a rise in productivity, the company must either absorb the increased costs or pass them along to the consumer in the form of higher prices.

The Russell 2000 (NYSE: IWM) continues to post strong gains, buoyed by news of upbeat economic data. At 2:09 p.m. ET, the small-cap index had climbed 12.38 points, or 1.65%, to 764.44. The Dow Jones Industrial Average (INDU) had advanced 188.75 points, or 1.42%, to 13,437.48.

Non-farm U.S. productivity increased at an annualized rate of 6.3% during the third quarter, according to revised numbers released by the Labor Department before the start of trading.

That’s above the initially reported increase of 4.9% and the largest productivity gain since the third quarter of 2003.

Meanwhile, the same report showed that unit labor costs, a measure of inflation, fell 2%, as productivity increased and hourly compensation was revised downward.

That means that the U.S. economy can grow without a rise in inflation.

Numbers released after the start of trading by the Institute for Supply Management showed that non-manufacturing sector business activity fell to 54.1 from 55.8 in November.

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting solid gains following news of upbeat economic data.

At 10:48 a.m. ET, the small-cap index was up 10.69 points, or 1.42%, to 762.75. The Dow Jones Industrial Average (INDU) had gained 145.91 points, or 1.10%, to 13,394.64.

Non-farm U.S. productivity increased a healthy annualized rate of 6.3% during the third quarter, according to revised numbers released by the Labor Department before the start of trading.

That’s the largest productivity gain in four years and above the initially reported increase of 4.9%. Productivity rose 2.2% during the second quarter.

Unit labor costs, the cost of worker compensation and benefits per unit of manufactured output, fell 2%, reflecting the upward revision to productivity and the downward revision to hourly compensation.

Unit labor costs are a key measure of inflation.

If a rise in labor costs is not matched by a rise in productivity, which would allow the company to produce more and cover the extra labor costs with proceeds from the increased output, costs are either absorbed by the company or passed along to the consumer in the form of higher prices.