Tag - Lyv

The Russell 2000 (NYSE:IWM) closed slightly higher today on news that a deal was hammered out on the stimulus bill. Some of today’s small-cap gainers were First M&F Corp. (Nasdaq:FMFC), Marshall & Ilsley (NYSE:MI) and Golden Star Resources (AMEX:GSS).

Other Market Watch highlights today included:

• The MBA Mortgage Application Index fell 24.5% today despite a mild dip on fixed rate mortgages, which suggests that the housing market is still struggling mightily.
• Economist Steve Wood: "The housing market is still mired in a deep recession with no indication that a bottom has yet been reached."
• The monthly trade report was released, showed the smallest trade gap in nearly six years, but that gap was still a tad bigger than expected.
• Bank shares were a bright spot for the market today, with the KBW Banking Index rising about 5%. 
• Gold stocks were a source of strength today, likely bolstered by investors looking for a hard goods safe haven away from struggling equities.
• Crude oil prices tumbled 4.2%, losing $1.61 to $35.94 a barrel, pulled down by a surprisingly large build on weekly inventories.
• Copper prices in U.S. trading tumbled some 5% amid news that China’s January imports of copper fell 19%.

Small Cap Gainers:

• Small-cap banks dominated the biggest percentage gainers today, with firms like First M&F Corp. climbing back from a big slide Tuesday. FMFC gained about 21% on the session. See (Nasdaq:FMFC).
• Small-cap bank Marshall & Ilsley Corp. rose 12% today, gaining back some of the 26% spiral from Tuesday. See (NYSE:MI).
• Several small-cap gold stocks were a hot item today, including . . .

Small-cap stocks pushed higher into mid-session, supported by gains in airlines, retailers and energy stocks. Small-caps were firm relative to large-cap stocks which were pulled down by big financials and tech companies.Today's biggest small-cap gainers are Theravance Inc. (Nasdaq:THRX), Targanta Therapeutics Corp. (Nasdaq:TARG) and General Motors (NYSE:GM).

Other Market Watch highlights included:

• The U.S. dollar was down more than 1% against the euro, which also helped the tone in commodity stocks.  
• Crude oil prices pulled higher amid talk of OPEC cuts and the hijacking of a big Saudi oil freighter.  
• Financial shares continue to be a drag on large-cap indices, with the Financial SPDR Fund off about 2%.  
• The market was sharply divided today, with strong gains seen for several sectors, but big losses offsetting in other sectors, which had cumulative effect of keeping index movement relatively stable. 

Small Cap Gainers:

• Theravance Inc. climbed 15% as the company said that a skin infection drug showed capability to fight deadly bacteria See (Nasdaq:THRX).  
• Targanta Therapeutics Corp. jumped 34% on news that an FDA committee will review the firm’s new application for skin infections. See (Nasdaq:TARG).  
• General Motors Corp. is up about 11% as the automaker continues to benefit from expectations that the U.S. government will extend a helping hand to carmakers. See (NYSE:GM).  
• First stores open at Developers Diversified Realty's Homestead Pavilion late last week; shares up 8% today. See (NYSE:DDR).

Small Cap Losers:

• Central European Media Enterprises Ltd. slumped 21%, tumbling to fresh 52-week lows following analyst downgrades last week. See (Nasdaq:CETV).  
• Horizon Lines down nearly 10% following last week's news that the company would cut fuel surcharges by 5.5%. See (NYSE:HRZ).  
• Allied Capital Corporation down 12% today after analysts said last week that the company faces liquidity issues. See (NYSE:ALD).  
• Live Nation Inc. treads 16.4% lower today as recession fears continue to hurt the ticket industry. See (NYSE:LYV).

Looks like we’re back in the slump we saw pervade October trading. Small caps plummeted 6.12% today and are now down 41% for the year. Today’s small-cap gainers are ATA Inc. (Nasdaq:ATAI), ARYx Therapeutics (Nasdaq:ARYX) and Imperial Sugar (Nasdaq:IPSU).

Other Market Watch highlights today included:

• Anything currently linked to Russia is trouble; the Russian Stock Exchange closed for two days to stem massive selling in Russian equities.
• For 2008, the Russell is now down 41%, while the Dow is off 38% and the S&P 500 is down 42%.
• Including action since mid-September, this was the eighth session sporting a loss of 5% or more.
• Energy and other commodity values remain a bearish element for many stocks right now. 
• Crude oil prices in the U.S. tumbled $3.17 a barrel to $56.16, the lowest closing price since January 2007.
• Copper and aluminum prices slumped to three-year lows in overseas trading (although copper did close slightly higher in U.S. trading). 
• Energy shares were a drag on the market, with the Energy SPDR Fund off 8.1%.

Small Cap Gainers:

• ATA Inc. rallied 19% as the Chinese computer testing firm reported earnings. See (Nasdaq:ATAI).
• ARYx Therapeutics swings to profit in Q3; shares up a whopping 47%. See (Nasdaq:ARYX). 
• Imperial Sugar Co. jumped nearly 15% as the sugar processing firm extended a recent upside push from the October lows. See (Nasdaq:IPSU).
• Embattled Dow component General Motors Corp. was up 5.4% on talk that legislators are warming up to ideas to help provide financial assistance . . .

Small-cap stocks went into freefall mode Wednesday, burdened by new plans for the troubled asset relief program (TARP), ongoing worries about corporate profitability, money flow out of equities into credit markets, further downside probing in commodities to 5-year lows and renewed concerns about consumer spending in a difficult economic environment. The Russell 2000 (NYSE:IWM) closed down 29.49, or 6.12% at 452.80, the second-lowest daily close in more than five years. For 2008, the Russell is now down 41%, while the Dow is off 38% and the S&P 500 is down 42%.

We’ve all become somewhat numb to mind-boggling daily volatility since the collapse kicked into gear, but to give some perspective, if you went back before the stock market crash began in mid-September, today’s slide would have been the largest one-day swoon of the year. Including action since mid-September, this was the eighth session sporting a loss of 5% or more.

The market was already in a fragile frame of mind this morning after Best Buy Co. Inc. (NYSE:BBY) lowered its outlook, which stirred worries about consumer spending heading toward the key holiday season. With two-thirds of the U.S. economy driven by consumer spending, a picture of rising unemployment and a dreary outlook for next year make for a troubling brew. BBY shares lost 8% on the day, while the S&P Retail Index was off 5.7%.

Then after the BBY scare, investor confidence seemed to be shaken even more by the Treasury Department’s decision to scrap the original rescue plans of using $700 billion in TARP funds to buy up toxic debt and instead divert money into more capital injections. Those investor concerns appear to be two-fold: first, there is a perception that the government still is bouncing back and forth trying to put out fires instead of having a deliberate plan of attack to help restore financial solvency. Second, there is a chance that if the government funnels billions of dollars into these financial firms it will dilute share-holder equity. The PHLX KBW Banking Index was off 6.1%.

When the TARP was first approved by Congress back on Oct. 3, the Russell was at 619.40. After putting $350 billion to “work” to rescue the market out of the credit crisis, the Russell is now at 452.80. Clearly, there is still work to be done. And the longer the market struggles the more likely it is that public frustration over . . .

USG Corp. (Nasdaq:USG), Live Nation Inc. (Nasdaq:LYV) and Veeco Instruments Inc. (Nasdaq:VECO) are among the  among 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hadera Paper Ltd. (Nasdaq:AIP), Crosstex Energy Inc. (Nasdaq:XTXI), Oplink Communications Inc. (Nasdaq:OPLK), Patriot Coal Corp. (Nasdaq:PCX), Rockwood Holdings Inc. (Nasdaq:ROC) and J Crew Group Inc. (Nasdaq:JCG).

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

Gaylord Entertainment Co. (Nasdaq:GET), Live Nation Inc. (Nasdaq:LYV) and Symmetry Medical Inc. (Nasdaq:SMA) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Layne Christensen Co. (Nasdaq:LAYN), US Airways Group Inc. (Nasdaq:LCC), Diana Shipping Inc. (Nasdaq:DSX), VIST Financial Corp. (Nasdaq:VIST), Callon Petroleum Co. (Nasdaq:CPE) and AK Steel Holding Corp. (Nasdaq:AKS).

Insight Enterprises Inc. (Nasdaq:NSIT), Gaiam Inc. (Nasdaq:GAIA) and Talbots Inc. (Nasdaq:TLB) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dialysis Corporation of America (Nasdaq:DCAI), Accuray Inc. (Nasdaq:ARAY), Griffin Land & Nurseries Inc. (Nasdaq:GRIF), Ames National Corp. (Nasdaq:ATLO), Syniverse Hldg Inc. (Nasdaq:SVR) and Live Nation Inc. (Nasdaq:LYV).

Here are the biggest percentage losers among small caps: