Tag - Ome

Small-cap stocks closed slightly lower Friday, pulled down by pre-weekend profit-taking and losses in small-cap energy names as crude oil tumbled to a 15-week closing low. The Russell 2000 (NYSE:IWM) finished Friday’s action down 1.01, or 0.13% at 753.37, which stands as the third highest daily close of the year and the highest weekly close of 2008. For the first time in a while, large-cap products were noticeably firmer than small-caps, with the Dow up 0.38% Friday to 11659.90, and the S&P 500 up 0.41% at 1298.20. For the year, the Russell is down 1.65%, while the Dow is off 12.0% and the S&P 500 is down 11.5%.

Normally, crude oil price declines have been a supportive element for small-cap stocks, and while that psychology is still in play, there were enough commodity-tied small-cap shares in the red Friday to pull down the Russell relative to the Dow and S&P 500. Among broad market sectors, coal, gold, metals and mining, oil and gas drillers, oil production and steel stocks were the worst performers.

Crude oil futures finished out the week at 15-week closing lows, slipping about 1% Friday just below $114 dollars a barrel. Although there are many stocks that stand to benefit from a stabilization in crude oil price declines, the general consensus is that further downside probing in the energy market would be an overall bullish element for equities because it would free up consumer spending for other areas...

Art's-Way Manufacturing Co Inc. (Nasdaq:ARTW), Century Bancorp (Nasdaq:CNBKA) and MAG Silver Corp. (Nasdaq:MVG) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion. 

Also included among the results: United Security Bancshares (Nasdaq:USBI), Omega Protein Corp (Nasdaq:OME), Metalico Inc. (Nasdaq:MEA), Crawford (Nasdaq:CRD.B), and Lifeway Foods Inc. (Nasdaq:LWAY).           

Here are the biggest percentage losers among small caps:   

K-Tron International Inc. (Nasdaq:KTII), Connecticut Water (Nasdaq:CTWS) and Omega Protein Corp. (Nasdaq:OME) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion. 

Also included among the results: NN Inc (Nasdaq:NNBR), USA Truck Inc. (Nasdaq:USAK), Almost Family Inc (Nasdaq:AFAM), Ness Technologies Inc. (Nasdaq:NSTC), US Physical Therapy Inc (Nasdaq:USPH) and China Holdings Acquisition (Nasdaq:HOL).      

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

Small-cap stocks pushed higher Thursday, lifted by asset flow into equities, demand for technology shares trickling down from the large-cap issues and a perception that credit conditions are on the improve. The Russell 2000 (NYSE:IWM) rose 7.31, or 0.99%, to 743.28, the highest daily close since Jan. 3.

“I think investors are underweight equities, and in recent weeks there has been movement out of cash and treasuries into stocks,” Nick Kalivas, vice president of financial research with MF Global, told SmallCapInvestor.com.

Kalivas said that a narrowing of credit spreads after the JP Morgan purchase of Bear Stearns and the Fed’s aggressive open door policy on liquidity to the dealer community has sparked buying in equities. In addition, huge debt issuance in the last few weeks has bolstered corporate balance sheets.

“I think money has come to stocks because of robust profits in the non-financial sector and the macro news has not shown further meaningful weakness in the economy. I also don’t think players want to be too short given the injection of stimulus from tax rebate checks and other measures,” Kalivas said. Simply put, stocks are cheap relative to treasuries and cash, which attracts money flow into equities.

More attractive pricing of DRAM products appears to be pulling investors toward tech issues. What’s more, the possibility of great new “toys” from big-cap players like Research in Motion (Nasdaq:RIMM), with the touch screen Blackberry, and Apple Inc. (Nasdaq:AAPL), with its iPhone upgrades spreads goodwill down to all tech stocks, big and small. Hey, we’re all kids at heart, and there’s nothing like . . .

Deltek Inc. (Nasdaq:PROJ), 3D Systems Corp. (Nasdaq:TDSC) and GeoEye Inc. (Nasdaq:GEOY) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Omega Protein Corp. (Nasdaq:OME), PowerSecure International Inc. (Nasdaq:POWR) and Knot Inc. (Nasdaq:KNOT) are also among the biggest percentage losers.

Here are the biggest percentage losers among small caps:

The Russell 2000 (NYSE: IWM) shed its earlier gains despite news of possible future rate cuts and housing relief. At 1:55 p.m. ET, the small-cap index was down 1.53 points, or 0.21%, to 715.79. The Dow Jones Industrial Average (INDU) had advanced 14.66 points, or 0.12%, to 12,699.58.

Stocks small and large were posting modest gains on news that government regulators from the Office of Federal Housing Enterprise Oversight will remove the investment caps of mortgage lenders Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).

The move will allow the two companies to invest billions in the housing market by purchasing mortgage-related securities.

The Russell 2000 climbed into the green at about 10:30 a.m. ET, and stayed in positive territory until about 1.30 p.m. ET.

Also contributing to the bullish mood was speculation of more interest rate cuts when the U.S. Federal Reserve meets on March 18. Fed chairman Ben Bernanke spoke on Capitol Hill earlier today and told lawmakers that the central bank “will act in a timely manner” to keep the economy growing.

The Russell 2000 (NYSE: IWM) moved up as news of a stock buyback program by International Business Machines Corp. (Nasdaq: IBM) overshadowed worrisome economic reports. The small-cap index added 6.86 points, or 0.97%, to 717.32. The Dow Jones Industrial Average (INDU) gained 114.70 points, or 0.91%, to 12,684.92.

On a year-to-date basis, the Russell 2000 has declined 6.36%, while the Dow is down 4.37% and the S&P 500 has decreased 5.93%.

The major U.S. indices interrupted their early-session volatility to post gains on news that IBM has approved a $15 billion stock buyback. The Armonk, N.Y.-based tech giant said that the buyback will boost its 2008 profit.

The announcement came at around 11 a.m. ET, and immediately sent stocks small and large flying.

The U.S. Labor Department reported that producer prices increased 1% in January, more than the expected 0.4%.

The numbers tell us that inflation pressures remain a worry despite the slowing economy.

Meanwhile, the Conference Board announced that its index of consumer confidence fell to a five-year low of 75.0 in February, down from 87.3 in January. A pullback in consumption will spell trouble for the economy, because consumer spending is about 70% of U.S. gross domestic product.

First Mutual Bancshares (Nasdaq: FMSB) announced it is being acquired by Washington Federal Inc. for $189.8 million in a cash and stock deal.

Medical software maker Simulations Plus, Inc. (AMEX: SLP) reported net earnings of $0.78 million, or $0.09 per share, for the three months ended May 31, up from $0.38 million, or $0.05 per share, in the year-ago period.

These are the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $500 million:

These are the biggest percentage gainers among companies with market capitalizations under $500 million: