Savient (SVNT) Leads Small-Cap Gainers Through Choppy Trading SessionAll major indices were trading down for much of today's session with the Nasdaq leading the losses by shedding 0.19% to close at 1,858.80. In late trading the Dow closed at 8,799.26 for a modest gain of 0.32% and the S&P 500 closed up 0.14% to finish the day at 946.21. Leading the small-cap gainers today was Savient Pharmaceuticals (Nasdaq:SVNT) up 56% to close at $9.26 on news that the Food and Drug Administration said that the firm's gout treatment drug, Krystexxa, works. Based in East Brunswick, NJ, Savient makes specialty biopharmaceuticals as was founded in 1980. Other small-cap leading gainers include WSP Holdings (NYSE:WH) up 24.5%; Independent Bank Corporation (Nasdaq:IBCPO) up 22.4%; and AC Moore Arts & Crafts (Nasdaq:ACMR) up 16.4%. Small-cap decliners were lead by Hawaii-based Hoku Scientific (Nasdaq:HOKU) down 30.3% to close at $3.05. Hoku, a raw materials provider for the solar industry, announced that it may be unable to fund its operations over the next year and stated that it will not provide guidance for fiscal year 2010. The other small-cap stocks posting big share price drops include iPCS (Nasdaq:IPCS) down 21.6%; P&F Industries (Nasdaq:PFIN) down 19.9%; and one of Wednesday's big gainers, Corel (Nasdaq:CREL), which slid 18.4%. *****Its worse in Europe than here in the U.S. Industrial production dropped 1.9% in a particularly cruel April, nearly double the 1% drop that was expected. First quarter GDP was also down 2.5% for the 16 Euro-zone countries. The recession there seems far from over, and Europe's weakness might be contagious because it should act as a stark reminder just how tenuous global economic recovery is. *****Oil prices may have just hit their blow-off highs above $72 yesterday. As you know, I was early to the oil stock party. My SmallCapInvestor PRO readers took a 142% gain on one stock, Gulfport Energy (Nasdaq:GPOR), and we're holding +60% on another. And of course, if you've been following closely over the past six months you know that I've been in and out of Graham (AMEX:GHM) several times. Now, it's getting late and I suspect the party might be ending, at least for a brief pause. I'm not calling for oil prices to crash. And the $33 a barrel price we saw back in February may never be seen again. But oil stocks, and stocks in general, are due for a pullback. The 2nd Quarter ends June 30. And it would be reasonable to expect institutional investors to lock in some gains. I'm sure they are using put options to do some hedging, which helps explain the recent rise in volatility. But I also won't be surprised to see some outright selling. And it might have started with yesterday's afternoon drop for the indices. The Dow Industrials were up well over 100 points in the early afternoon, but couldn't hold it as a late wave of selling left it with a gain of just 30. That's the opposite pattern of what we've seen for much of this rally. Institutional investors have been buying late in the day, supporting prices and leaving stocks with daily gains. Institutional activity usually occurs at the beginning and end of the trading day, so this is something to keep an eye on. *****Brazil, Russia, China and India contribute 15% to global GDP, but they have 42% of the world's currency reserves. And they may be on the verge of throwing their liquidity weight around. Bloomberg reports that these countries will hold their first summit next week, and it's widely expected that they will announce that they are increasing their holdings of IMF bonds. Yes, that comes at the expense of U.S. bond holdings. Apparently, fears of rising deficits and the potential inflation from an expanded money supply in the U.S. are driving them to diversify a bit. Investors should take note. While the U.S. muddles through, and Europe continues to be mired in recession, the BRIC countries (Brazil, Russia, India and China) are the only countries in the world that can support their economies without taking on debt. Chinese stocks are the ones I'm bullish on right now. If there is a slight pullback later this month, then Chinese stocks will suffer the least and more importantly, present great buying opportunities before the next leg up. To get my top Chinese selections, click HERE. *****Finally, as I announced yesterday, TradeMaster Daily Stock Alerts technical analyst Jason Cimpl has graciously agreed to give us a weekly forecast for the stock market. You can access his video analysis and commentary HERE. 
MAP Pharmaceuticals, Syms and AgFeed Industries lead small-cap percentage gainers
MAP Pharmaceuticals Inc. (Nasdaq:MAPP), Syms Corp. (Nasdaq:SYMS) and AgFeed Industries Inc. (Nasdaq:FEED) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Oxford Industries Inc. (Nasdaq:OXM), Tween Brands Inc. (Nasdaq:TWB), iPCS Inc. (Nasdaq:IPCS), Origin Agritech Ltd. (Nasdaq:SEED), Cedar Income Fund REIT (Nasdaq:CDR) and Monotype Imaging Holdings Inc. (Nasdaq:TYPE).
Pharmasset, ABM Industries and Einstein Noah Restaurant Group lead small-cap percentage gainers
Pharmasset Inc. (Nasdaq:VRUS), ABM Industries Inc. (Nasdaq:ABM) and Einstein Noah Restaurant Group Inc. (Nasdaq:BAGL) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: BNC Bancorp (Nasdaq:BNCN), iPCS Inc. (Nasdaq:IPCS), TNS Inc. (Nasdaq:TNS), PDL BioPharma Inc. (Nasdaq:PDLI), Associated Estates Realty Corp. (Nasdaq:AEC) and Superior Well Services Inc. (Nasdaq:SWSI).
Russell falls lower into midday; IPCS, SPAR, and UNAM lead gainers
Small-cap stocks turned lower into mid-session trading, unable to sustain a mild morning rise as ongoing worries about the economy came back to the forefront following dreadful data on home sales. As expected, homebuilders were among the hardest hit stocks so far today, with retailers, banks and auto manufacturers also acting as a drag on the market. Some of today’s small-cap gainers are iPCS (Nasdaq:IPCS), Spartan Chassis (Nasdaq:SPAR) and Unico American Corporation (Nasdaq:UNAM).
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Other Market Watch highlights today included: • The top performing sector groups today included industrial real estate investment trusts, health care facilities, aluminum companies, Internet retail stocks and hotels. • Financial shares were holding up reasonably well, but banks were a noticeable source of strain in the financial arena. • The ongoing fretting about the economy pulled down crude oil prices, which slipped below $39 a barrel, off about 3.7% at midday. • The worst performers so far today have been the automakers. Small Cap Gainers: • Spring Nextel affiliate iPCS up 18% on lower-than-average volume. See (Nasdaq:IPCS). • Spartan Chassis has reached an agreement with the U.S. government in connection with an investigation of military contracting in South Carolina. Shares climb 14%. See (Nasdaq:SPAR). • Unico American Corporation up 13.3% today after announcing on Monday that it would repurchase an additional 500,000 shares. See (Nasdaq:UNAM). • Ocean Shore Holding, Inc. announces completion of subscription offering and plans for syndicated community offering. Shares pop 13%. See (Nasdaq:OSHC). Small Cap Losers: • K-V Pharmaceutical Co. tumbled 39% to fresh 52-week lows. See (NYSE:KV.A). • American Greetings Corp. slumped 21% as the greeting card company took an earnings-related hit. See (NYSE:AM). • AsiaInfo Holdings Inc. was down 17% as the telecom software firm announced filings to offer stock. See (Nasdaq:ASIA). • Jones Apparel Group Inc. was off 16% adding to the sizable decline incurred Monday. See (NYSE:JNY).
Scopus Video Networks, Lacrosse Footwear and iPCS lead small-cap percentage gainers
Scopus Video Networks Ltd. (Nasdaq:SCOP), Lacrosse Footwear Inc. (Nasdaq:BOOT) and iPCS Inc. (Nasdaq:IPCS) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Cogent Communications Group Inc. (Nasdaq:CCOI), Ocean Shore Holding Co. (Nasdaq:OSHC), Axsys Technologies Inc. (Nasdaq:AXYS), Williams Controls Inc. (Nasdaq:WMCO), FiberNet Telecom Group Inc. (Nasdaq:FTGX) and Oneida Financial Corp. (Nasdaq:ONFC).
Colony Bankcorp, MAP Pharmaceuticals and PAM Transportation Services lead small-cap percentage gainers
Colony Bankcorp Inc. (Nasdaq:CBAN), MAP Pharmaceuticals Inc. (Nasdaq:MAPP) and PAM Transportation Services Inc. (Nasdaq:PTSI) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Transcat Inc. (Nasdaq:TRNS), iPCS Inc. (Nasdaq:IPCS), Seneca Foods Corp. (Nasdaq:SENEB), Palm Harbor Homes Inc. (Nasdaq:PHHM), Auburn National Bancorp Inc (Nasdaq:AUBN) and MetroCorp Bancshares Inc. (Nasdaq:MCBI). Here are the biggest percentage gainers among small caps:
Modest rise; energy, tech, retail stocks lag financials
Small-cap stocks edged slightly higher in a relatively tame post-holiday session, climbing into positive ground just minutes before the close, with support from financial, manufacturing and construction stocks countered by a weak tone in energy and technology shares. Also, retailer stocks were struggling on an important day that signals the kick-off for holiday shopping.
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The Russell 2000 (NYSE:IWM) closed up 4.28, or 0.91% at 473.14, putting the finishing touches on a stellar week (which saw the Dow have the best percentage gain in more than 70 years). For 2008, the Russell 2000 is now down 38%. Meanwhile, the Dow is down 33% and the S&P 500 is off 39% for 2008. Crude oil prices took a hit today, with futures down 5% and the price of crude slipping back below $52 a barrel. Energy shares were a major drag on the overall market performance today, with the Energy Select Sector SPDR Fund off some 1.7%. Tech stocks started out the day in a dour mood following declines in Europe when major chip-maker STMicroelectronics lowered its outlook. Tech shares persistently trailed major indices today and the tech-laden Nasdaq 100 dipped 0.6%. Europe shares struggled in general today following news that unemployment rates in the Eurozone tumbled to 20-month highs and confidence tumbled to 15-year lows. Dow component Wal-Mart Stores Inc. (NYSE:WMT) – the only Dow stock up for the year – took a 1.4% hit today, perhaps tied to news that an employee was killed in the rush of Black Friday shoppers when a store in New York opened early this morning. Four shoppers, including a pregnant woman, were also treated for injuries in the stampede incident, adding a new somber meaning to the “Black Friday” moniker. The S&P Retail Index was down 1.7% today, perhaps a caution sign for not just retailers, but the overall consumer spending mentality heading through year-end. However, there remains a sense that much of the “bad news” about the holiday season and the . . .
ATP Oil & Gas, Tesco, and Orient Express Hotel lead small cap gainers
ATP Oil & Gas Corporation (Nasdaq:ATPG), Tesco Corp. (Nasdaq:TESO) and Orient Express Hotels Ltd. (Nasdaq:OEH) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Meritage Homes Corp. (Nasdaq:MTH), SeaChange International Inc. (Nasdaq:SEAC), iPCS Inc. (Nasdaq:IPCS), Hill International Inc. (Nasdaq:HIL), Key Technology Inc. (Nasdaq:KTEC) and Solarfun Power Holdings Co Ltd. (Nasdaq:SOLF).
Taleo, Macerich REIT and Digital River lead small-cap percentage losers
Taleo Corp. (Nasdaq:TLEO), Macerich REIT (Nasdaq:MAC) and Digital River Inc. (Nasdaq:DRIV) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: True Religion Apparel Inc. (Nasdaq:TRLG), Trina Solar Ltd. (Nasdaq:TSL), Citizens Holdings Co. (Nasdaq:CIZN), QCR Holdings Inc. (Nasdaq:QCRH), Callon Petroleum Co. (Nasdaq:CPE) and iPCS Inc. (Nasdaq:IPCS).
NN, Graham and TNS lead small-cap percentage losers
NN Inc. (Nasdaq:NNBR), Graham Corp. (Nasdaq:GHM) and TNS Inc. (Nasdaq:TNS) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: iPCS Inc. (Nasdaq:IPCS), Sauer Danfoss Inc. (Nasdaq:SHS), Kenexa Corp. (Nasdaq:KNXA), Sun Hydraulics Corp. (Nasdaq:SNHY), Orient Express Hotels Ltd. (Nasdaq:OEH) and Headwaters Inc. (Nasdaq:HW). Here are the biggest percentage losers among small caps:
Akeena Solar, Centrue Financial and Alon USA Energy lead small-cap percentage gainers
Akeena Solar Inc. (Nasdaq:AKNS), Centrue Financial Corp. (Nasdaq:TRUE) and Alon USA Energy Inc. (Nasdaq:ALJ) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Peapack Gladstone Financial Corp. (Nasdaq:PGC), Dover Motorsports Inc. (Nasdaq:DVD), iPCS Inc. (Nasdaq:IPCS), Internet Initiative Japan Depository Receipt (Nasdaq:IIJI), Ambac Financial Group (Nasdaq:AKT) and LandAmerica Financial Group Inc. (Nasdaq:LFG). Here are the biggest percentage gainers among small caps:
Choppy rise as data soothes crude spikeSmall-cap stocks were modestly higher in choppy morning trade, as investors juggle several cross-currents, including a sudden jump in crude oil prices and a fresh batch of economic data that seemed slightly better than feared. At 10:06 a.m. ET, the Russell 2000 (NYSE:IWM) was up 3.49, or 0.48% at 724.03. New Home Sales were pegged at an annual rate of 515,000 units, which was below the 530,000 forecast. The single-family home sales rate for June was the lowest since September 1991. Meanwhile, Consumer Confidence came in well above the forecast, with the headline figure at 56.9, compared with the projection of 53. The U.S. dollar edged slightly higher after the confidence report, but did not take out the overnight high against the euro. The Case-Shiller Home Price Index was slightly better than the forecast, coming in at minus 15.9%, compared with the projection of minus 16.2%. In addition, the velocity of declines is slowing and there were some pockets that edged higher, which will foster some hope of a bottom for the beleaguered housing sector. Still, the report shows that home prices in metropolitan areas continue to fall at a record annual pace. The U.S. dollar climbed to new move highs in overnight trading, pulling to the highest point since February against the euro. After this morning’s run of economic data, the dollar remained firm, which helped pull money into U.S. equities. In addition, the yield on ten-year notes and bonds was higher, suggesting money flow into stocks versus fixed income products. Crude oil bounced about 30 minutes ahead of the U.S. stock market opening, boosted by concerns that Hurricane Gustav could trek toward key production areas in the Gulf of Mexico. The Gulf harbors about 25% of U.S. crude production and some 15% of natural gas production. Crude oil prices climbed back above $117 a barrel, . . .
Russell slips into red as crude rally counters positive newsSmall-cap stocks opened higher, but quickly slipped into negative territory, pulled down by a rally in crude oil prices, which raised a caution flag about consumer spending and inflation trends. An opening burst tied to overseas stock market gains, a firm dollar and strong tech earnings failed to gain traction, but remains a positive element in play looking forward today. At 9:57 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.28, or 0.17%, at 728.80, while the Dow was off 0.34% and the tech-laden Nasdaq 100 up 0.13%. Tech stocks were lifted by solid quarterly results from Hewlett-Packard Co. (NYSE:HPQ) as the world’s largest computer maker topped the earnings forecast. HPQ shares were up 4.3% shortly after the open. Crude oil prices were on the rise this morning, climbing more than $1.50 a barrel back north of $116, bolstered by Goldman Sachs analysts reiterating their forecast for $149 crude oil by the end of the year. In addition, energy prices were supported by short-covering in front of today’s weekly inventory report, which is expected to show a drawdown in crude stocks of some three million barrels. The bounce in crude oil prices was taking an early toll on airline stocks, with the AMEX Airline Index tumbling 7%, with small-cap carrier US Airways Group Inc. (NYSE:LCC) off 8%. In addition to the advance in crude oil, grains prices were called solidly higher today, despite a firm tone in the U.S. dollar. The greenback was in rally mode overnight, rising about 0.3% against both the euro and yen, which suggests some confidence from overseas investors about the U.S. economy and U.S.-tied assets — including stocks. However, those overnight gains in the buck were trimmed after stocks turned lower. Some confidence in equities heading into the opening was linked to a big rally overnight in the Chinese stock market, which soared 7% on talk that a government stimulus plan was in the works to bolster equities and spark a slowing economy. In addition to China, stocks in Hong Kong were up 2.1%, Taiwan up 0.9%, . . .
Russell 2000 ends month with riseThe Russell 2000 (NYSE:IWM) ended March with a solid gain on news of a better-than-expected gauge of business activity and a plan to overhaul financial regulation. The small-cap index rose 4.79 points, or 0.70%, to 687.97. The Dow Jones Industrial Average added 46.49 points, or 0.38%, to 12,262.89. On a year-to-date basis, the Russell 2000 is down 10.19%, while the Dow has shed 7.55% and the S&P 500 has declined 9.92%. Small-cap stocks began the session mixed, trading with no clear direction as investors awaited economic and financial news. The National Association of Purchasing Management-Chicago reported after the start of trading that its purchasing managers’ index rose to higher-than-expected level of 48.2 in March from 44.5 in February. The news eased concerns of a decline in business investment even though readings below 50 signify a contraction. Also grabbing the headlines was a plan by the Bush administration for a major overhaul of the existing financial regulation. The proposal, outlined by U.S. Treasury Secretary Henry Paulson after the opening, would broaden the powers of . . . spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer
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