Tag - Nwy

Calgon Carbon Corp. (Nasdaq:CCC), DXP Enterprises Inc. (Nasdaq:DXPE) and Herley Industries Inc. (Nasdaq:HRLY) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Chardan 2008 China Acquisition Units (Nasdaq:CACAU), BWAY Holding Co. (Nasdaq:BWY), First of Long Island Corp. (Nasdaq:FLIC), Navios Maritime Acquisition Corp. (Nasdaq:NNA), Global Brands Acquisition Corp. (Nasdaq:GQN) and New York & Company Inc. (Nasdaq:NWY).

Here are the new 52-week highs among small caps:

Small-cap stocks pushed higher Thursday, snapping a string of four consecutive losing days as investors found relief from an intraday reversal in crude oil prices. The Russell 2000 (NYSE:IWM) closed up 5.90, or 0.81%, at 733.01.

“Today was all about reacting to crude oil. In fact, [Wednesday] was about crude oil and Friday is going to be about crude oil. When prices get this extreme at the gas pump, it really makes you wonder if we’re approaching the breaking point for the consumer. If they don’t have discretionary money to spend on things other than gas, then it’s going to have a negative rollover effect on everything else,” said Dominic Boyle, market strategist with Lind-Waldock, in a phone interview.

In order for equity markets to sustain the rally off the March lows, Boyle said, “we will have to get confirmation from crude” in the form of a top, or at least a dramatic slowdown in the escalation of energy prices. After a new record high overnight at $135 dollars a barrel, crude oil futures slipped back to about $131 during the U.S. trading session and left a little potential topping pattern by making new highs and closing lower.

As crude oil tilted off the highs today, the greenback chewed up some recent lost ground, rising about 0.6% against the euro and 1.2% versus the yen. In general, a strong dollar of late has been seen as a positive signal for equities, associated with investment flow into U.S. stocks, and potential unwinding of short dollar/long commodity trades.

In addition, some of today’s upbeat psychology may have been stoked by news of a big acquisition, with NRG Energy Inc. (NYSE:NRG) tendering a bid to purchase Calpine Corp. (NYSE:CPN) for a stock deal worth about $11 billion. If there are . . .

Shares of New York & Co., Inc. (NYSE:NWY) are higher on news before the start of trading that the women’s apparel retailer posted a fourth-quarter profit that beat Wall Street’s projections despite a significant decline. The company, which has 578 stores, reported that net income from continuing operations was $11.2 million, or $0.18 per share, for the three months ended Feb. 2, above the projected $0.16 per share. Net income was $0.41 per share a year earlier.

At 10:55 a.m. ET, the stock was up $0.66, or 14%, to $5.40.

The following small-cap companies (market capitalizations or values under $750 million) are broadcasting events on Thursday, March 20.

Here are the companies ordered chronologically (all times ET):

The Russell 2000 (NYSE: IWM) has lost steam following news of a steeper-than-expected decline in pending U.S. home sales.

At 11:53 a.m. ET, the small-cap index had added 0.60 points, or 0.09%, to 693.09. The Dow Jones Industrial Average (INDU) was down 22.68 points, or 0.19%, to 12,177.42.

Pending home sales fell 1.5% in December, the National Association of Realtors reported after the opening.

The Washington, D.C.-based trade organization’s pending home sales index fell to a reading of 85.9 from a downwardly revised level of 87.2 in November. Economists were expecting the measure to decline 1%.

The December 2007 level is 24.2% below the year-earlier level. For of all 2007, the index is at it lowest level ever.

“Existing-home sales have moved narrowly since last September, but when the full impact of higher loan limits for conventional mortgages begins to impact the market there is likely to be a notable rise in home sales and prices,” said NAR chief economists Lawrence Yun in a statement.

News of the decline hit small-cap stocks, which dropped from their morning high above 700 points at about 10:30 a.m. ET and briefly entered negative territory at about 11 a.m. ET.

In other economic news, the day began with news that of weak January sales at U.S. retailers.

New York & Company, Inc. (NYSE: NWY) shares are falling after the women’s apparel retailer lowered its fiscal year earnings outlook range to a loss of $0.10 per share to earning $0.03 per share, from previous guidance of earning $0.32 to $0.45 per share. Last year, the company earned $0.77 per share.

Before the opening, New York & Company reported that it swung to a third-quarter loss of $16 million, or $0.27 per share, widely missing analyst estimates of earning $0.05 per share and compared with earning $9.6 million, or $0.16 per share, a year earlier. Quarterly revenue rose 6% to $287 million, above Wall Street projections of $285.5 million and from $270.9 million during the year-ago period.

“We are pleased that our strategy of maximizing profitability by controlling inventory and managing expenses has enabled us to exceed the high end of our guidance in a challenging business environment,” CEO Richard Crystal said in a statement.  “We are excited about our new bath and body launch, pleased with our sustained success in the pant, dress, skirt, jacket and sweater categories, and look forward to continued growth in our E-Commerce business."

The company also said it will exit its underperforming 23-store JasmineSola chain, aimed at selling apparel to young women.

In afternoon trading, NWY shares are down 9.82%, or $0.72, at $6.61. Over the last 52 weeks, shares have ranged from $5.69 to $16.20.

Specialty apparel chain New York & Co., Inc. (NYSE: NWY) reported an increase in third-quarter sales this morning and said that it expects EPS to be at the high end of its previously issued guidance range. Additionally, the retailer said it will jettison its JasmineSola chain by the end of the fourth quarter  

The information propped shares up 5.02%, or $0.32, to $6.70 at 10:37 a.m. ET. Shares of New York & Co. have been trading in the range of $5.69 to $16.20 for the past 52 weeks.

Consolidated net sales (including JasmineSola) for the three months ended Nov. 3 increased 5.9% to $287 million, compared with $270.9 million for third quarter of 2006. Sales clocked right in line with the $287.59 million sales figure nine analysts polled by Thomson Financial were on average forecasting.

While net sales increased, comparable store sales for the New York & Co. brand decreased 4.8%, compared with a comparable store sales increase of 0.6% for same quarter in 2006.

Net sales excluding the JasmineSola unit, increased 6.3% to $276.4 million for the quarter, compared with $260 million for the third quarter of 2006. 

JasmineSola, which will be pitched next quarter, had net sales of $10.6 million for the third quarter, a 2.9% decline over the $10.9 million earned in the same quarter last quarter.

The Russell 2000 (NYSE: IWM) is rising despite news of weak U.S. retail sales in October.

At 10:41 a.m. ET, the small-cap index had added 1.5 points, or 0.19%, to 777.46. The Dow Jones Industrial Average (INDU) was down 39.75 points, or 0.30%, to 13,260.27.

Small-cap stocks are moving up this morning while investors are digesting both bearish and bullish news and listening to U.S. Federal Reserve Ben Bernanke’s congressional testimony.

The bears like news that U.S. retailers posted weak sales in October. Many retailers blamed the warm weather for stalling sales of cold-weather items and the higher price of gasoline, which is pinching consumers’ wallets.

Wal-Mart Stores Inc. (NYSE: WMT), which saw a sales increase of just 0.4%, exemplifies the sector’s unimpressive performance.

Among small-cap retailers, shares of Hot Topic Inc. (Nasdaq: HOTT) cooled off due to news of a decline in October sales, while Christopher & Banks Corp. (NYSE: CBK) reported a 22% in October sales. Women’s fashion retailer New York and Company, Inc. (NYSE: NWY) also announced an increase in October sales.

The Russell 2000 futures were higher as the bulls reacted to news that automaker Ford Motor Co. (NYSE: F) reported that it expects to break even in 2007 following a narrower third-quarter loss. The company beat Wall Street’s expectations by posting a loss of $380 million, compared with a loss of $5.2 billion a year earlier.

New York & Company, Inc. (NYSE: NWY), Flamel Technologies S.A. (Nasdaq: FLML) and Protherics PLC (Nasdaq: PTIL) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Shares of specialty apparel chain New York & Company, Inc. (NYSE: NWY) have tumbled to a new 52-week low, leading the small-cap percentage losers today, after reporting a 46% decrease in its second quarter bottom line and lowering full year guidance.

Shares of New York & Co. fell 15.3%, or $1.20, to a new 52-week low of $6.63 in mid-day trading. The specialty retailer had been trading in a band of $ 7.01 to $16.20 for the past year.

For the three months ended August 4, the women’s clothing line recorded net income of $3.5 million, or $0.06 per diluted share, including of a loss of $0.03 per diluted share in the company’s upscale and contemporary apparel, footwear and accessories brand, JasmineSola. The current quarter’s bottom line represents a 46% decline in net income from the second quarter of 2006 of $6.5 million, or $0.11 per diluted share, including a loss of $0.01 per diluted share in its JasmineSola brand. Ten analysts polled by Thomson Financial were, on average, expecting earnings of $0.05 per share. 

“The problem here is that the core customer isn’t shopping,” said Brean Murray analyst Eric Beder. “The core customer is the middle to lower income women and the store cannot get that customer to shop. She’s shopping for anyone but herself.”

Beder said that to improve its current situation, the retailer will have to drive traffic through promotions and discounting.