Tag - Mxc

Mexco Energy Corp. (Nasdaq:MXC), SemGroup Energy Partners LP (Nasdaq:SGLP) and Metalico Inc. (Nasdaq:MEA) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.   

Also included among the results: Citi Trends Inc. (Nasdaq:CTRN), Info Group Inc. (Nasdaq:IUSA), Central Gold Trust (Nasdaq:GTU), Century Bancorp (Nasdaq:CNBKA), Pyramid Oil Co. (Nasdaq:PDO) and Union Drilling Inc. (Nasdaq:UDRL).        

Here are the biggest percentage gainers among small caps:    

Small caps kicked off the second half of the year sharply lower in morning trading and remained in the red midday after the credit crunch’s aftershocks resurfaced and gripped the market.

At 12:27 p.m. ET, the Russell 2000 (NYSE:IWM) had sold off 8.46, or 1.13%, at 739.82, while the Dow is down 150.95, or 1.19%, to 12,487.37.

Small caps saw a broad sell-off Monday as major financial firms disclosed unsettling management shifts. Wachovia (NYSE:WB) said this morning that it is replacing CEO Ken Thompson with Chairman Lanty Smith on an interim basis, while Washington Mutual (NYSE:WM) reported that Kerry Killinger will leave his post as chairman, but will retain his position as CEO of the bank and home lender. Shares of Wachovia plunged to their lowest level since 1995.

Across the pond, Britain’s largest mortgage lender to residential rental units Bradford & Bingley (LON:BB) said that the housing market was getting worse and that it will slash the amount of cash it was initially expected to raise through a rights issue. Private equity firm TPG is expected to take a 20% stake in the hard hit lender.

Economic news out today added to market jitters, painting an austere macro picture. Construction spending sputtered to 0.4% in the month of April, below the 0.5% economists were expecting.

Small-cap stocks opened flat, rose higher in morning trading, and have settled down in midday action. Investors were encouraged by easing crude oil and NRG Energy’s (NYSE:NRG) $11.3 billion offer to buy power generation company Calpine Corp. (NYSE:CPN). At 12:21 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.71, or 0.92%, at 733.82.

News that NRG Energy tendered a bid to buy Calpine Corp. for a stock deal worth $11 billion injected some enthusiasm back into the M&A picture, and played a supportive role in market psychology. Calpine shares were up 7.07% in midday trading.

Large caps in the news early today include Pfizer Inc. (NYSE:PFE), which tumbled 1.36% on news that its anti-smoking drug had serious side effects. Also, NetApp Inc. (Nasdaq:NTAP) tumbled about 6% as the company’s forward projections disappointed.
Among broad market sectors, apparel retailers, fabricated plastics and rubbers, catalog and mail order retailers and trucking companies were on the upside. Sectors attracting sellers include water transportation, oil well services and equipment, . . .

Here are Wednesday’s biggest percentage gainers and losers, along with top volume leaders, among companies with a market cap between $50 million and $750 million:

Biggest percentage gainers:

• Samson Oil & Gas Ltd. (AMEX:SSN), up 68.7% to $6.51 after the Australian oil and gas producer signed an agreement to give Samson a 100% working interest and 75% revenue interest in a 320-acre area close to an oil producing field. Samson paid $300 per acre and is required to drill an initial well within a year or risk forfeiting the lease for the acreage.
• CREDO Petroleum Corp. (Nasdaq:CRED), up 32.1% to $16.46 despite no significant announcements.
• The Walking Company Holdings, Inc. (Nasdaq:WALK), up 26.3% to $6.00 despite no reports from the company.

Biggest percentage losers:

• US Airways Group, Inc. (NYSE:LCC), down 22.1% to $5.35 after the Tempe, Ariz.-based airline operator said Wednesday afternoon that it had no plans to charge passengers for the first checked bag. American Airlines (NYSE:AMR) said Wednesday that it will start charging passengers $15 for the first checked bag. Also sending the stock lower, US Airways posted a 2.5% increase in the number of full-time employees in March, according to the U.S. Department of Transportation.
• ShengdaTech, Inc. (Nasdaq:SDTH), down 13.6% to $8.42 despite no announcements from the company.
• Guaranty Financial Group Inc. (NYSE:GFG), down 13.4% to $5.17 after the Austin, Texas-based regional bank announced a stock offering of up to $350 million.

Small caps traded marginally in the green midday, while the other major indices skidded, as oil continued its record-setting skyward hike for the second straight session, stoking inflation concerns.

At 12:48 p.m. ET, the Russell 2000 (NYSE:IWM) edged up 5.1, or 0.69%, to 740.74, while the Dow slumped 39.73, or 0.31%, to 12,788.95.

Crude oil bolted north of $132 a barrel this morning, setting another record after the Energy Department reported a surprising decline in crude inventories last week after reporting gains in inventories for the preceding four straight weeks. After jumping as high as $132.08 a barrel, a barrel of crude retreated slightly to $131.75 midday.

While crude gained, the dollar sold off against the euro and the yen and gold gained $7.80 to $928 per troy ounce.

Midday, oil prices and inflation concerns are the major drivers behind the market; however sentiment and the market’s direction could change when the Federal Reserve releases its FOMC minutes at 2:00 p.m. ET.

In major large-cap headlines, media conglomerate Time Warner Inc. (NYSE:TWX) said this morning that it will separate both structurally and legally from its cable television division Time Warner Cable Inc. Technological juggernaut Hewlett-Packard Co. (NYSE:HPQ) reported after Tuesday’s close that second-quarter earnings increased 16%, noting that growth in the overseas arena offset domestic weakness. However, investors are still pouring over the printer and computer maker’s recent . . .

Small caps declined after the ring of Tuesday’s opening bell, attempted to mount a comeback at noon after breaking through initial resistance, but declined during afternoon trading. Soaring crude oil prices, worrisome economic reports, the sinking greenback and a decline in international markets are burdening investors. Weak retail reports and Federal Reserve Vice Chairman Donald Kohn’s comments that policymakers are likely to hold interest rates steady provided additional concern for Wall Street.

At 2:09 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.70, or 0.64%, at 733.75.

Crude oil jumped to a new record high, climbing above $129 dollars a barrel amid tight stocks for diesel fuel and solid demand out of China and South America that is countering soft demand from the United States. With gasoline prices in some metropolitan areas moving above $4 dollars a gallon, another record high in crude oil will not likely be embraced by stock market traders, even if a handful of energy stocks stand to benefit.

The Labor Department’s producer price index report showed higher energy and food costs might be inflicting damage on other parts of the economy. The producer price index rose 0.2%, better than the expected 0.4% rise. However, skyrocketing gas prices mean the data is quickly outdated. Investors were more interested in the “core” producer price index, which edged up 0.4%, doubling expectations. This jump in the core tightens margins for businesses and forces them to consider raising prices, which can be suicidal in a sluggish economy where consumer discretionary spending . . .

Transcat, Inc. (Nasdaq:TRNS), Volterra Semiconductor Corp. (Nasdaq:VLTR) and Fuel Systems Solutions, Inc. (Nasdaq:FSYS) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

Zoran Corp. (Nasdaq:ZRAN), Mexco Energy Corp. (AMEX:MXC) and Twin Disc, Inc. (Nasdaq:TWIN) are also among the top small-cap percentage gainers.

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