Tag - Mov

<p class="MsoNormal"><strong style=""><span style="font-size: 10pt; font-family: Verdana;">Sequenom Inc </span></strong><span style="font-size: 10pt; font-family: Verdana;">(Nasdaq:SQNM),<strong style=""> Movado Group Inc </strong>(Nasdaq:MOV),<strong style=""> China Agritech Inc </strong>(Nasdaq:CAGC) and<strong> Isramco Inc </strong>(Nasdaq:ISRL) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.<o:p> <br /> </o:p></span></p> <p class="MsoNormal"><span style="font-size: 10pt; font-family: Verdana;">Also included among the results:<strong> DSW Inc </strong>(Nasdaq:DSW),<strong style=""> HQ Sustainable Maritime Industries Inc </strong>(Nasdaq:HQS),<strong style=""> Shengkai Innovations Inc </strong>(Nasdaq:SHE),<strong style=""> Sterling Construction Co Inc </strong>(Nasdaq:STRL) and<strong style=""> Stonemor Partners LP </strong>(Nasdaq:STON).<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-size: 10pt; font-family: Verdana;"><o:p>&nbsp;</o:p></span></p>

As of press time, 4:00 P.M. Eastern, stocks on the broader indices were up. The Dow was down 2.49 points to 8,762, the Nasdaq up 17.73 points to 1,860.13, and the S&P 500 was up 3.22 points to 942.42.

The Russell 2000, the index tracking the 2,000 largest small cap stocks, was up 4.02 points, or 0.77%, to 528.57.

Leading today's small cap gainers was Sequenom (Nasdaq:SQNM) up 45.97%. Sequenom provides genetic analysis products for biomedical research, molecular medicine, and non-invasive prenatal testing. As I've been saying for the past couple weeks, the sector rotation to defensive stocks like biotech and healthcare has started.

Other small caps showing leadership today include Spreadtrum Communications (Nasdaq:SPRD) up 23.76%; Satyam Computer Services (NYSE:SAY) up 34.93% on surprising the market with profits from the December quarter; Movado Group (NYSE:MOV) up 25.8%; and American Axle & Manufacturing (NYSE:AXL) up 22.45% after having broken through it's 200 day moving average for the second time since over a year ago and despite reporting that it will encounter production shutdowns due to the bankruptcy proceedings of General Motors (OTC:GMGMQ.PK) and Chrysler.

Showing the wrong kind of leadership in today's session-that is, the biggest decliner-was youth fashion creator Quiksilver (NYSE:ZQK) shedding 20.17% off it's opening price to be at $2.88 at press time. Shares dropped precipitously after it was announced that Quiksilver's profit was a penny shy of analysts' estimates.

Other stocks with investors seeing red today include LCA-Vision (Nasdaq:LCAV), provider of LasikPlus, down 14.11%; famed golf equipment maker Callaway Golf (NYSE:ELY) down 15.8% on news of it's dividend cut from 7 cents per share to just one cent per share; CBL & Associates Properties (NYSE:CBL) down 12.8% after releasing its full year outlook below consensus expectations and announcing an offering of 50 million shares of common stock.

*****Bravo. The government's handling of the financial crisis and recovery should be recognized as a masterful performance. At least, so long as you don't look too deeply into the numbers…

Bernanke and Co. have managed to restore confidence to the point that economist Paul Krugman has joined the ranks of those who think we are only a couple months away from actual GDP growth.

And they've accomplished this remarkable feat by stringing investors along with one carrot after another…

*****The first carrot was bailouts and stimulus packages. There was a time when stimulus spending was going to save or create 3.5 million jobs. Now, states are wondering where the stimulus money is. And the president is now promising 600,000 jobs will be created by stimulus spending.

But layoffs have slowed considerably according to the most recent non-farm payroll report. And Americans, feeling more secure in their jobs, may not notice that stimulus jobs won't be there, even if they need them.

*****The Public-Private Investment Program (PPIP) was supposed to remove toxic assets from bank balance sheets. Never mind that the banks probably never had any intention of selling at fire-sale prices and investors weren't thrilled with paying unreasonable prices, no matter how much of the transaction would be funded by the Treasury.

Geithner's "stress tests" resulted in banks raising their capital bases. That has helped remove the incentive to dump those toxic assets. 

And as for the $74 billion banks have raised so far, do not misunderstand all the talk of "green shoots". These green shoots were not economic recovery per se. Rather, the green shoots were the banks stock prices shooting higher after accounting rule changes allowed them to show a profit where there was none.

In other words, the economic recovery is something akin to an illusion -- those inflated stock prices have allowed the banks to raise enough capital to appear healthy and last a little while longer…

*****Now that investors have breathed a sigh of relief that the problems with the auto industry are being resolved, the Chrysler sale to Fiat has been put on hold. Funny, I would swear a couple weeks ago, Chrysler would go bankrupt and millions would lose their job if Fiat didn't buy Chrysler right away.

*****And then there's TARP - the $700 billion boondoggle. Some banks have been asking to repay the money for months. But ever-sensitive to the all-important timing element of a good comedy, the Treasury has been unwilling to accept payment.

After all, why spoil the party by letting all the good news out at once? Why not wait until the rally is looking weak to release the news that, hey, maybe we'll accept TARP repayments after all? And maybe those payments will be more than anyone expects?

But let's make sure we string the announcement out as long as possible and let the threat of good news keep the bears at bay…

*****Of course, you can only fool all of the people for a while. Eventually, without a real pickup in economic activity, the millions of Americans who are barely keeping their head above water will sink. And then all the issues the "stress tests" glossed over (higher unemployment, rising foreclosure rate, etc.) will cripple the banks once again.

As economist Joseph Stiglitz of Columbia University recently told Bloomberg: "There's a chance that it might work...If it does, then they'll look like the brilliant general. But all these efforts also bank on the economy recovering and housing prices not falling too much further. Those are not safe assumptions."

P.S. I normally don't like to be the guy who says "I told you so", but for today I will. Back when the PPIP was first floated by the Treasury my diligent research in my Top Stock Insights advisory service spotted three stocks that would profit big time if the PPIP went through and profit modestly even if it did not. We did it. In a matter of weeks - not months or years - we profited on Legg Mason (NYSE:LM) for 8.16%, BlackRock (NYSE:BLK) for 9.1%, and AllianceBernstein (NYSE:AB) for 12.77%. Top Stock Insights readers booked these gains DESPITE the collapse of Geithner's PPIP plan. To find out how you can see steady and consistent gains no matter what happens, check out Top Stock Insights at http://www.topstockinsights.com/.

Movado Group Inc (Nasdaq:MOV), Alliance One International Inc (Nasdaq:AOI) and Pep Boys-Manny Moe & Jack (Nasdaq:PBY) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Globecomm Systems Inc (Nasdaq:GCOM), JA Solar Holdings Co Ltd (Nasdaq:JASO), China Sunergy Co Ltd (Nasdaq:CSUN), Spartan Stores Inc (Nasdaq:SPTN), AEP Industries Inc (Nasdaq:AEPI) and Patni Computer Systems ADR (Nasdaq:PTI).

G-III Apparel Group Ltd. (Nasdaq:GIII), Hearst-Argyle Television, Inc. (Nasdaq:HTV) and Movado Group Inc. (Nasdaq:MOV) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

The Russell 2000 (NYSE:IWM) pushed 2.3% higher on Wednesday and is now down 38% for the year, while the Dow is down 34% for 2008 and the S&P 500 is down 39%. Some of today’s small-cap gainers are American Land Lease (NYSE:ANL), Atlas Pipeline Holding (NYSE:AHD) and Ann Taylor Stores (NYSE:ANN).

Other Market Watch highlights today included:

• The MBA Mortgage Application Index came out this morning, and showed a mild dip off last week’s record advance when the index doubled.
• The wholesale inventory report came out at minus 1.1%, which was quite a bit worse than the forecast for a drop of 0.1%.
• The top-performing sectors were dominated by commodities: coal, gold, oil and gas drillers, aluminum, metal and mining shares were all up.
• The Energy Select Sector SPDR Fund rallied 5%, far outpacing the rest of the market.
• Financial shares were a drag on the bullish party, as concerns about the credit crisis and tight lending continue to be in play.
• Today’s three-year note auction came in at a higher-than-expected yield, which provided some relief to stocks overall.

Small Cap Gainers:

• American Land Lease Inc. (NYSE:ANL) gapped higher on news that the real estate investment trust was being bought at a huge premium to previous capitalization. ANL shares stormed 221% higher on the news.
• Atlas Pipeline Holding LP (NYSE:AHD) rallied 45% to close above the 20-day moving average for the first time since late September.
• Ann Taylor Stores Corp. (NYSE:ANN) jumped 20% and itself closed above . . .

Small-cap stocks pushed higher Wednesday, powered by gains in commodity stocks, but the move briefly lost steam in mid-afternoon as worries surrounding a proposed bailout for U.S. automakers came back into play amid Republican opposition to the $15 billion plan. The Russell 2000 (NYSE:IWM) closed up 10.69, or 2.30% at 476.40, and is now down 38% for the year. The Dow closed up 0.81% and is down 34% for 2008, while the S&P 500 was up 1.19% Wednesday and down 39% for the year.

Senator Richard Shelby of Alabama called the bailout a “travesty” and threatened to implement procedural roadblocks to stall the bill, which sent a shudder through automaker stocks and widened corporate bond spreads. General Motors Co. (NYSE:GM) closed down about 2.1%, while Ford Motor Co. (NYSE:F) was up 0.6%.

Commodity markets have been pummeled mercilessly for months, but were in vogue again today, with the Commodity Research Bureau Index rising 2.6%. Crude oil futures were up 3.4% or $1.45 a barrel to $43.52, which provided a lift to energy stocks. The Energy Select Sector SPDR Fund rallied 5%, far outpacing the rest of the market.

And even though energy always grabs the lion’s share of attention, other commodity markets contributed to equities today, with mining, metals and gold stock among the best percentage performers today. Some of the rise in mining stocks likely stemmed from news overnight that Rio Tinto PLC (NYSE:RTP) decided to slash 14,000 jobs, cut costs and raise capital, which sent which sent the world’s third-largest miner into rally mode. RTP shares jumped 27% today in U.S. trading.

Once again today, financial shares were a drag on the bullish party, as concerns about the credit crisis and tight lending continue to be in play. Also, early declines in Treasury products were whittled away in the afternoon, which keeps concerns about money flow in the mix. That said, today’s three-year note auction came in at a higher-than-expected yield, which provided some relief to stocks overall.

Individual small caps on the move today included American Land Lease Inc. (NYSE:ANL), which gapped higher on news that the real estate investment trust was being bought at a huge premium to previous capitalization. ANL shares stormed 221% higher on the news. Atlas Pipeline Holding LP (NYSE:AHD) rallied 45% to close above the 20-day moving average for the first time since late September. Ann Taylor Stores Corp. (NYSE:ANN) jumped 20% and itself closed above . . .

TeleTech Holdings Inc. (Nasdaq:TTEC), Axsys Technologies Inc. (Nasdaq:AXYS) and One Liberty Properties Inc. (Nasdaq:OLP) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Molina Healthcare Inc. (Nasdaq:MOH), Williams Controls Inc. (Nasdaq:WMCO), American River Bankshares (Nasdaq:AMRB), A.O. Smith Corp. (Nasdaq:AOS), Doral Financial Corp (Nasdaq:DRL) and Movado Group Inc. (Nasdaq:MOV).

Berry Petroleum Co. (Nasdaq:BRY), GMX Resources Inc. (Nasdaq:GMXR) and Sierra Wireless Inc. (Nasdaq:SWIR) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Layne Christensen Co. (Nasdaq:LAYN), Movado Group Inc. (Nasdaq:MOV), Swift Energy Co. (Nasdaq:SFY), Corus Entertainment Inc. (Nasdaq:CJR), Atwood Oceanics Inc. (Nasdaq:ATW) and Mariner Energy Inc. (Nasdaq:ME).

Berry Petroleum Co. (Nasdaq:BRY), Griffin Land & Nurseries Inc. (Nasdaq:GRIF) and Ocean Shore Holding Co. (Nasdaq:OSHC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: BNC Bancorp (Nasdaq:BNCN), GMX Resources Inc. (Nasdaq:GMXR), VAALCO Energy Inc. (Nasdaq:EGY), SandRidge Energy Inc. (Nasdaq:SD), Movado Group Inc. (Nasdaq:MOV) and Affymax Inc. (Nasdaq:AFFY).

Small-cap stocks opened lower, tugged down by a sobering picture of the jobs situation in the United States after the monthly employment report showed a staggering number of jobs have been lost in November. Some of today’s small-cap gainers are Liquidity Services Inc.  (Nasdaq:LQDT), Asbury Automotive Group (NYSE:ABG) and FairPoint Communications (Nasdaq:FRP).

Other Market Watch highlights today included:

• With crude oil prices wobbling and the jobs picture darkening, energy shares were in retreat mode early today.  
• Overnight, India, the second-largest country on the planet in terms of population, announced their first price reduction for gas prices in two years.  
• Worries about demand destruction amid a global recession continue to pummel energy prices.
• Data this morning revealed that job losses in Canada climbed to the highest point in 26 years.

Small Cap Gainers:

• Liquidity Services Inc. rose 11% as the online auction company received an earnings-tied boost. See (Nasdaq:LQDT).   
• Asbury Automotive Group up 10% on very light volume. See (NYSE:ABG).  
• FairPoint Communications up 5% after declaring fourth-quarter dividend. See (NYSE:FRP).
• Hersha Hospitality Trust announces fourth-quarter dividends. See (NYSE:HT).  

Small Cap Losers:

• Movado shares drop 14% after Q3 earnings drop 41%. See (NYSE:MOV).  
• Berry Petroleum Company down 25% as energy is getting pummeled today. See (NYSE:BRY). 
•  International Coal Group also feeling the heat today with other energy stocks; shares are down 20% near a 52-week low of $1.50. See (NYSE:ICO).  
• Orbitz Worldwide falls 13% as online travel sites slump on lower traffic. See (NYSE:OWW).  

Small-cap stocks hovered near steady levels into mid-session trading, with support from retail, homebuilder and financial shares countered by sinking energy and technology shares. Some of today’s small-cap gainers are ParkerVision, Inc.  (Nasdaq:PRKR), Tidelands Bancshares (Nasdaq:TDBK) and Insulet Corp. (Nasdaq:PODD).

Other Market Watch highlights today included:

• The slide in physical markets took a toll on energy stocks as well, with the Energy Select Sector SPDR Fund down 3.3%.  
• Crude oil prices tumbled to near four-year lows amid worries about a global recession, finding little comfort in a fresh string of rate cuts  
• In a familiar theme this week, homebuilder shares were still a hot item today. The ISE Homebuilders Index was up more than 7%.  
• The International Council of Shopping Centers said that November sales plunged a record 2.7% on a year-over-year basis.

Small Cap Gainers:

• ParkerVision, Inc. and LG Innotek enter into joint development agreement; PRKR pops 60%. See (Nasdaq:PRKR).
• Tidelands Bancshares up 47% on light volume. See (Nasdaq:TDBK).  
• Insulet Corp. rose 23% as the medical device company that specializes in diabetes continues to climb after bottoming out in late November. See (Nasdaq:PODD). 
• Buckle Inc. rose 22% as the apparel and accessory merchant registered a 15% jump in comp store sales. See (NYSE:BKE).  

Small Cap Losers:

• Dynamex Inc. dropped 21%, gapping lower as the delivery and logistics provider also took a lump after reporting earnings. See (Nasdaq:DDMX).  
• Diamond Foods Inc. gapped lower and tumbled 20% as investors weren’t impressed with earnings results from the snack foods distributor. See (Nasdaq:DMND).  
• Movado Group Inc. is down 15% as the boutique operator and fashion distributor took a hit after releasing earnings. See (NYSE:MOV).

United Rentals Inc (Nasdaq:URI), i2 Technologies Inc. (Nasdaq:ITWO) and Dynamex Inc. (Nasdaq:DDMX) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Diamond Foods Inc. (Nasdaq:DMND), AngioDynamics Inc. (Nasdaq:ANGO), Argon St Inc. (Nasdaq:STST), James River Coal Co. (Nasdaq:JRCC), Movado Group Inc. (Nasdaq:MOV) and Arena Resources Inc. (Nasdaq:ARD).

Movado Group, Inc. (NYSE:MOV) CEO Efraim Grinberg said strength in the watchmaker’s international business offset a challenging retail and economic environment in the United States. Grinberg made the comments during a Thursday morning conference call.

“Our business in the Caribbean, Latin America, South America and Canada remains strong,” Grinberg said.

For 2009, Movado said in an early Thursday release that it expects sales to range from $555 million to $565 million. Wall Street anticipates $556 million in sales.

The Paramus, N.J.-based firm also maintained its fiscal 2009 earnings guidance of between $1.65 and $1.72 per share, which is in line with Wall Street’s projection of $1.69 per share.

“Our guidance continues to reflect a cautious outlook on the U.S. economic environment and favorable foreign exchange rates,” COO Rick Cote said. “This guidance also continues to include an approximate $0.20 per share negative impact related to wholesale door closings, certain expenses related to the company’s [enterprise resource planning system] implementation and severance costs to be completed as part of our Movado brand strategy.”

Cote said Movado is focused on accomplishing three key operating objectives during fiscal 2009. First, the firm wants to execute its brand strategy across its wholesale and retail channels. To accomplish this, Movado has already terminated certain wholesale relationships and Cote said Movado expects to close more wholesale channels during the second quarter. Second, Movado aims to maximize growth opportunities in its existing businesses, particularly in its licensed brand portfolio such as Coach, Hugo Boss, Tommy Hilfiger and Lacoste. Third, Movado plans to roll out a worldwide resource planning system. The system is slated to go live during . . .

Watch and jewelry maker Movado Group, Inc. (NYSE: MOV) reported fourth-quarter earnings above the consensus on Wall Street and guided for fiscal 2009 results to be inline to higher than analysts were forecasting. The favorable earnings and guidance sent shares up 20.14%, or $3.83, to $22.65 at 1:43 p.m. ET.

For detailed price information and recent news stories about Movado, click MOV.  

The Russell 2000 (NYSE: IWM) is posting a gain despite news of a surprising jump in January producer prices.

At 10:14 a.m. ET, the small-cap index was up 3.78 points, or 0.53%, to 714.24. The Dow Jones Industrial Average (INDU) was down 10.10 points, or 0.08%, to 12,560.12.

Small-cap stocks are in the green despite news that producer prices increased 1% in January, according to the U.S. Labor Department before the start of trading. That’s more than the expected increase of 0.4% and follows a 0.3% decline in December.

The core index, which excludes the cost of food and energy, added 0.4%. Economists were projecting an increase of 0.2% following a similar rise in December.

The numbers, which measure the selling prices received by domestic producers for their output, show that inflation pressures remain despite the current economic slowdown.

Shares of Gevity HR Inc. (Nasdaq: GVHR) are higher on news that the Bradenton, Fla.-based employment management solutions company reported fourth-quarter revenue that beat analysts’ forecasts.

While still three months away, this week unofficially marks the start of the holiday retail season. With estimates that the consumer represents two-thirds of economic spending, one should not be surprised to find economists and pundits focused intently on consumer spending over the coming quarter.

The bulls will point to the tremendous resilience of the American consumer, while the bears will question the negative impact of housing trouble and credit turmoil. In either event, several leading newsletter advisors are focused on individual retailing firms that they believe offer value to investors.

Richard Moroney "suits up" with JoS. A. Bank Clothiers, Inc. (Nasdaq: JOSB), a retailer of men's apparel. The editor of Upside Stocks notes that the company reported July-quarter profits per share of $0.44, up 16% and $0.02 above the consensus estimate. Earnings, he notes, benefited from higher interest income.

According to Moroney, "Overall revenue rose 13%, spurred by double-digit increases in all major categories, particularly suits." The advisor points out that same-store sales rose 2.5%, helped by increased transaction volumes.

The company, he says, opened six new stores during the quarter, ending July with 391 locations. And, Moroney adds, management plans to open 50 stores in fiscal 2008 ending in January and now targets a total store count of about 600, up from prior guidance of 500.

Moroney considers the stock—which has a market cap of $644 million—modestly valued at just 13 times trailing earnings. He rates the issue a buy.

Another small cap retail on the upside “buy” list is G-III Apparel Group, Ltd. (Nasdaq: GIII), which designs, manufactures and markets a broad range of outerwear, sportswear, and women's suits and dresses. The stock has a market cap of $341 million.