Tag - Lad

Delta Apparel Inc. (Nasdaq:DLA), Champion Enterprises Inc. (Nasdaq:CHB) and Staar Surgical Co. (Nasdaq:STAA) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.    

Also included among the results: Lithia Motors Inc. (Nasdaq:LAD), QCR Holdings Inc. (Nasdaq:QCRH), Tween Brands Inc. (Nasdaq:TWB), Deltek Inc. (Nasdaq:PROJ), Oplink Communications Inc. (Nasdaq:OPLK) and Ricks Cabaret International Inc. (Nasdaq:RICK).        

Here are the biggest percentage gainers among small caps:     

Buffalo Wild Wings (Nasdaq:BWLD), RadiSys Corp. (Nasdaq:RSYS) and Lithia Motors, Inc. (NYSE:LAD) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $750 million.

Protection One, Inc. (Nasdaq:PONE),  Advanta Corp. (Nasdaq:ADVNB) and Sucampo Pharmaceuticals, Inc. (Nasdaq:SCMP) are also among the top small-cap percentage gainers.

Here are Wednesday's biggest percentage gainers among small caps:

Shares of Lithia Motors, Inc. (NYSE:LAD) are treading higher midday after the automotive franchises operator reported first-quarter results above analysts’ estimates after Tuesday’s close. The new and used vehicle retailer also issued second-quarter and full year guidance above the consensus on Wall Street, noting that with a “stronger selling season upon us, we feel well positioned to perform going forward.”

Shares jumped  19%, or $1.51, to $9.41 at 11:50 a.m. ET. For detailed price information and recent news stories about Lithia Motors, click LAD. 

The Russell 2000 (NYSE: IWM) lost more than the other major U.S. indices as news of disappointing economic reports spread recession fears. The small-cap index declined 13.74 points, or 1.94%, to 696.28. The Dow Jones Industrial Average (INDU) fell 142.96 points, or 1.15%, to 12,284.30.

On a year-to-date basis, the Russell 2000 has declined 9.11%, while the Dow is down 7.39% and the S&P 500 has retreated 8.57%.

Small-cap stocks erased early gains and declined sharply as investors focused on news of a weak economy.

The U.S. Labor Department reported that jobless claims for the week ended Feb. 16 fell 9,000 to 349,000 from the preceding week’s upwardly revised total of 358,000.

Economists were expecting a rise to 349,000 from an originally reported 348,000.

However, the more stable four-week measure increased 10,750 to 360,500, the highest average in more than two years.

“The jobless claims number is consistent with a softening labor market,” said Arun Raha, vice president of Economic Research and Consulting for the North American operations of reinsurance company Swiss Re, in an email. “Firms have moved from not hiring to laying off workers.”

The Russell 2000 (NYSE: IWM) is falling on news of a weak regional manufacturing index. At 1:11 p.m. ET, the small-cap index had dropped 7.08 points, or 1%, to 702.94. The Dow Jones Industrial Average (INDU) was down 106.08 points, or 0.85%, to 12,321.18.

The Philadelphia Federal Reserve’s regional index of manufacturing conditions fell to -24 in February from a reading of -20.9 in January, according to an announcement after the start of trading.

Economists were expecting to see a slight increase from the level in January, which was the lowest reading since 2001. A reading above zero indicates an expansion.

The future general activity index turned sharply negative, declining to -16.9 from 5.2 in January.
The numbers point to economic weakness and again raised fears of a recession.

Small-cap stocks quickly erased all of their earlier gains and dropped to the flat line shortly before 11 a.m. ET. The Russell 2000 stayed level until 12 p.m. ET, when the bears gained control.