Tag - Hoft

Hooker Furniture Corp. (Nasdaq:HOFT), Old Second Bancorp Inc. (Nasdaq:OSBC) and Citi Trends Inc. (Nasdaq:CTRN) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Pantry Inc. (Nasdaq:PTRY), Neutral Tandem Inc. (Nasdaq:TNDM), Skilled Healthcare Group Inc. (Nasdaq:SKH), AirTran Holdings Inc. (Nasdaq:AAI), Flexsteel Industries Inc. (Nasdaq:FLXS) and Volt Information Sciences Inc. (Nasdaq:VOL).

Lions Gate Entertainment Corp. (Nasdaq:LGF), Zion Oil and Gas Inc. (Nasdaq:ZN) and Daktronics Inc. (Nasdaq:DAKT) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Stewardship Financial Corp. (Nasdaq:SSFN), Hooker Furniture Corp. (Nasdaq:HOFT), MasTec Inc. (Nasdaq:MTZ), Kadant Inc. (Nasdaq:KAI), Meritage Homes Corp. (Nasdaq:MTH) and Syms Corp. (Nasdaq:SYMS).

Hooker Furniture Corp. (Nasdaq:HOFT), Casella Waste Systems Inc. (Nasdaq:CWST) and Amer Land Lease  (Nasdaq:ANL) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hutchinson Technology Inc. (Nasdaq:HTCH), Vitran Corp Inc. (Nasdaq:VTNC), Big 5 Sporting Goods Corp. (Nasdaq:BGFV), Avid Technology Inc. (Nasdaq:AVID), Gmarket Inc. (Nasdaq:GMKT) and Innerworkings Inc. (Nasdaq:INWK).

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

Hooker Furniture Corp. (Nasdaq:HOFT), Bolt Technology Corp. (Nasdaq:BOLT) and Ariba Inc. (Nasdaq:ARBA) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Brookfield Homes Corp. (Nasdaq:BHS), Transcat Inc. (Nasdaq:TRNS), Gulf Island Fabrication Inc. (Nasdaq:GIFI), Hutchinson Technology Inc. (Nasdaq:HTCH), Hercules Offshore Inc. (Nasdaq:HERO) and VisionChina Media Inc. (Nasdaq:VISN).

Here are the biggest percentage losers among small caps:

Small-cap stocks extended the recent slide Wednesday, as rising crude oil prices, ongoing credit crunch worries and a soft “Beige Book” report on economic activity took a toll. The Russell 2000 (NYSE:IWM) shed 14.74, or 2.01%, to 717.88, the lowest daily close since May 7 and the fourth consecutive close below opening levels, which shows that the bears are winning all the intraday skirmishes lately.

The Russell also closed below the 20-day moving average for the third consecutive session on lower closes, something that has not happened since March. The 20-day moving average is often watched as a short-term trend proxy and the last two times we saw the market below that line three consecutive periods, it presaged a nasty move lower. In addition, late in the day the Russell popped through key chart support at 720.50. Decisive action below that support would suggest a technical breakdown of the recent recovery move, and carries a downside target to 690, which makes action Thursday even more important to gauge the power of this pullback.

Crude oil prices shot $7 dollars a barrel higher Wednesday as the weekly stocks report reflected a drop in U.S. inventories for the fourth consecutive week. Crude oil prices jumped to more than $138 dollars, closing in on last week’s record high that approached $140. Elsewhere in the commodities arena, corn, soybeans and wheat soared up their daily trading limits today amid flooding in the heartland. Corn prices have been making record highs, which means that consumers’ wallets are taking a hit at the gas pump and then again at the grocery store. The iPath GSCI Total Return structured note fund reversed two days of losses to notch new record highs today, reflecting the broad advance in the price of physical goods. The Commodity Research Bureau Index of 19 markets also made new record highs today. A slide in the U.S. dollar also contributed to the rise in crude oil and other commodities, with the greenback down 0.4% against the yen, and off about 0.6% versus the . . .

FirstFed Financial Corp (Nasdaq:FED), Hooker Furniture Corp (Nasdaq:HOFT) and Sonic Solutions (Nasdaq:SNIC) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: East West Bancp Inc (Nasdaq:EWBC), Tufco Technologies Inc (Nasdaq:TFCO), Heritage Financial Group (Nasdaq:HBOS), Consolidated Water Co Ltd (Nasdaq:CWCO), Protherics (Nasdaq:PTIL) and AuthenTec Inc (Nasdaq:AUTH).

Here are the biggest percentage losers among small caps:

Small caps are in a steady downward slide as crude oil prices gushed higher, keeping inflation concerns forefront in investors’ minds. At 2:16 p.m. ET, the Russell 2000 (NYSE:IWM) was down 7.96, or 1.09%, at 724.66.

In recent trading, crude oil futures were up to $136.90 a barrel. The U.S. dollar was down against both the yen and the euro.

“Yesterday, the International Energy Agency or IEA said growth in global oil demand is heading toward a six-year low and may go lower with record prices still filtering through the markets,” Andy Busch, foreign exchange strategist for BMO Capital Markets, wrote in an email. “In its monthly oil-market report, they said they see world oil demand growing 0.9%, or 800,000 barrels a day, this year in a market of 86 million barrels a day. Clearly, the higher price for gasoline and diesel is showing up in several places: less petrol tax revenue in France, less fuel sales for retailers in the U.K. (maybe as much as 20% year over year), and less miles driven in the United States (lowest in March since 1979).”

The surging price of oil has prompted Fed Chairman Ben Bernanke to suggest in recent speeches that the Federal Reserve may raise interest rates to combat inflation.

In acquisition news, Staples Inc. (Nasdaq:SPLS) reportedly finalized a deal to purchase Dutch company Corporate Express; any large-cap M&A activity tends to be embraced by the overall stock market.

The weekly MBA mortgage application index rose 10.9% and the purchase index climbed 12.8% to a four-week high. This data series is volatile and has been on the decline in line with the slumping housing market, but the rise in the latest . . .

Small-cap stocks edged lower, with support from acquisition news and an uptick in the latest mortgage application survey offset by a jump in crude oil prices and lingering jitters about tough talk on inflation at a time of sluggish economic growth. At 9:56 a.m. ET, the Russell 2000 (NYSE:IWM) was down 4.59, or 0.63%, at 728.03.

In acquisition news, Staples Inc. (Nasdaq:SPLS) reportedly finalized a deal to purchase Dutch company Corporate Express, and any large-cap M&A activity tends to be embraced by the overall stock market.

The weekly MBA mortgage application index rose 10.9% and the purchase index climbed 12.8% to a four-week high. This data series is volatile and has been on the decline in line with the slumping housing market, but the rise in the latest week was surprising given a lift on interest rates.

Crude oil prices remain a thorn for stock market bulls, rebounding overnight to rise back above $134 dollars a barrel. In addition, the dollar was soft into the stock market opening, slipping about 0.2% versus the euro and about 0.3% against the yen. Other commodities were also on firm footing this morning, with gold trading higher and grains markets called higher.

The market will look toward this afternoon’s Beige Book report, which is a roundup of business conditions in the 12 Federal Reserve districts that is prepared before each FOMC meeting. Steven Wood, chief economist with Insight Economics, said in an email that the Beige Book is expected to show that the economy grew at a sluggish rate since late April. Wood said that consumer spending has slowed while motor vehicle sales have collapsed, and home building continued to sink. In addition, manufacturing activity was weak, supported by exports, not domestic demand. What’s more, labor markets appear to be quickly softening and price pressures are rising because of rapid gains in food, energy and commodity prices.

Investors and market strategists continue to grapple with the renewed focus on inflation jawboning and what it might mean for stocks after various central bank officials around the world have ramped up the anti-inflation rhetoric in recent days.

In a research report, Goldman Sachs analysts said that “the main risk that rising inflation poses to equities in the current environment is that it hampers the ability of central banks to pursue accommodative monetary policies at a time . . .

Shares of Hooker Furniture Corp. (Nasdaq:HOFT) are slipping in pre-market trading after the furniture retailer reported a decline in first-quarter results after Tuesday’s close hurt by a difficult retail environment.

Net income declined 29%, while revenues slid 8% in the quarter. The retailer also warned of continued lackluster operating conditions going forward due to the languid macroeconomic environment.

Shares slipped 13%, or $2.72, to $17.70 in pre-market trading. For detailed price information and recent news stories about Hooker Furniture, click HOFT.

After the closing bell, Hooker Furniture Corp. (Nasdaq: HOFT) announced that its second-quarter net income was $4.9 million, or $0.39 a share, above Wall Street expectations of $0.35 a share and more than three times the net income of $1.2 million, or $0.10 a share, recorded in the prior year’s period.

The firm said lower delivery and selling costs, along with a higher proportion of imported woods and metals sold contributed to the improved profit results.

However, the maker and importer of residential furniture’s net sales for the quarter decreased 11.5% to $73.4 million, from $83 million a year earlier and lower than analyst expectations of $85.6 million. The Martinsville, Virginia-based company also declared a quarterly cash dividend of $0.10 per share, to be paid on November 30 to shareholders of record as of November 15.

In after hours trading, shares of the small cap are up 0.81%, or $0.14, at $17.57. Over the last 52 weeks, shares have ranged between $13.52 and $25.10.

A Brean Murray, Carret & Co. analyst said Neurochem Inc.’s (Nasdaq: NRMX)’s drug candidate Alzhemed will likely fail in a late-stage clinical trial and Kiacta won't receive FDA approval.

Hooker Furniture Corp. (Nasdaq: HOFT) reported double-digit declines in sales and earnings in its first quarter. The Martinsville, Virginia-based furniture manufacturer reported net income of $4.3 million or $0.33 per share, for the first quarter ended April 29, down from $5.8 million or $0.49 per share in the year-ago period.

James River Coal Co. (Nasdaq: JRCC) said it may periodically sell up to $150 million in debt securities, common and preferred stock, warrants and units. The Richmond, Va.-based coal producer said it intends to use the money for working capital and general corporate purposes.

G-III Apparel Group, Ltd. (Nasdaq: GIII) said it expects to report a wider second quarter loss. The company, which makes and licenses apparel under brand names including Calvin Klein, Kenneth Cole and Sean Jean, expects a loss of between $0.19 and $0.24 per share on revenue of about $75 million. In the year-ago quarter, the company recorded a $0.14 loss on $69.1 million in sales. Analysts polled by Thomson Financial expected a second-quarter loss of $0.12 per share on revenue of $82.3 million.

Acton, Mass.-based SeaChange International (Nasdaq: SEAC) reported a first quarter loss of $0.12 per share, which was $0.02 worse than Wall Street estimates.

These are the biggest percentage losers in Thursday's trading among companies with market capitalizations under $500 million:

The major U.S. indices are lower on news of higher yields on U.S. government bonds. At 11:50 a.m. ET the Russell 2000 was down 8.89 points, or 1.06%, to 832.32. The Dow Jones Industrial Average was down 69.81 points, or 0.52%, to 13,395.86.

Shares of PriceSmart, Inc. (Nasdaq: PSMT), which operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, are higher on news May store sales increased. Same-warehouse sales (sales at warehouses open more than one year) rose 21.3% for the five weeks ended June 3, compared with the same period of 2006, the San Diego-based company said before the opening bell.