Tag - Rgs

World Heart Corp. (Nasdaq:WHRT), Anika Therapeutics Inc. (Nasdaq:ANIK) and Standex International Corp. (Nasdaq:SXI) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Regis Corp. (Nasdaq:RGS), Southern National Bancorp Of Virginia Inc. (Nasdaq:SONA), Exide Technologies (Nasdaq:XIDE), Shamir Optical Industry Ltd. (Nasdaq:SHMR) and Saga Communications Inc. (Nasdaq:SGA).

Regis Corp. (Nasdaq:RGS), Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI) and Atlas Pipeline Partners LP (Nasdaq:APL) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Matrixx Initiatives (Nasdaq:MTXX), Rubicon Technology Inc. (Nasdaq:RBCN), Venoco Inc. (Nasdaq:VQ), Titan International Inc. (Nasdaq:TWI), Warner Music Group Corp. (Nasdaq:WMG) and Houston Wire & Cable Co. (Nasdaq:HWCC).

Small-cap stocks jumped higher this morning, buoyed by a rush back into bank and financial stocks amid hope that the government will set up a “bad bank” facility to mop up losing bank investments, which would help clear bank balance sheets. In addition, there is a sense that the Obama Administration is moving back toward the original purpose of the TARP of absorbing bad debt paper, a concept that has repeatedly sparked brief rallies in equities. Some of today’s small-cap gainers were Regis Corp. (NYSE:RGS), World Acceptance Corp. (Nasdaq:WRLD) and UCBH Holdings (Nasdaq:UCBH).

Other Market Watch highlights today included:

• The weekly MBA Mortgage Application Index tumbled 38.8% to 732.1% and is now at the lowest point since the week ended Nov. 21.  
• There is a chance that some of the enthusiasm on the financial and banking front has also been stoked by optimism ahead of this afternoon’s FOMC statement.   
• The KBW Banking Index was up nearly 10%.   Small-cap stocks jumped higher this morning, buoyed by a rush back into bank and financial stocks.

Small Cap Gainers:

• Regis Corp. charged 24% as the beauty salon and hair restoration company reported earnings. See (NYSE:RGS).
• Small-loan consumer finance company World Acceptance Corp. gapped higher and rallied 20% on solid earnings news. See (Nasdaq:WRLD).  
• UCBH Holdings is up 14% in pre-market on very light volume. See (Nasdaq:UCBH).
• Huntington Bancshares and Ronald A. Katz Technology Licensing settle patent lawsuit and enter into license agreement; HBAN rises 12% in pre-market. See (Nasdaq:HBAN).  

Small Cap Losers:

• Century Aluminum Co. tumbled 30% as the firm announced plans for a common stock offering. See (Nasdaq:CENX).  
• Plantronics Inc. was down 9% as the headset maker took an earnings-related hit. See (NYSE:PLT).  
• Amylin Pharmaceuticals reports 2008 financial results; shares fall 6% in pre-market. See (Nasdaq:AMLN).

 

Small-cap stocks jumped higher this morning, buoyed by a rush back into bank and financial stocks amid hope that the government will set up a “bad bank” facility to mop up losing bank investments, which would help clear bank balance sheets. In addition, there is a sense that the Obama Administration is moving back toward the original purpose of the TARP of absorbing bad debt paper, a concept that has repeatedly sparked brief rallies in equities. At 9:52 a.m. ET, the Russell 2000 (NYSE:IWM) was up 9.15, or 2.01%, at 464.73.

Financial and bank stocks were the preferred outlet for bulls this morning. Huge percentage gains were seen for a vast array of banks; Citigroup Inc. (NYSE:C) was up 20% shortly after the open, while Wells Fargo & Co. (NYSE:WFC) was up 19%. The KBW Banking Index was up nearly 10%. Of course, it’s easier to generate jaw-dropping percentage gains on stocks that are only a fraction of where they were a year ago.

There is a chance that some of the enthusiasm on the financial and banking front has also been stoked by optimism ahead of this afternoon’s FOMC statement. With the Fed funds rate effectively near zero, one wouldn’t expect FOMC to carry much weight right now, but there is a chance that the Fed could talk up “non-traditional” means of providing liquidity and putting downside pressure on longer-term rates. The FOMC statement is slated for 2:15 p.m. ET.

The focus on banks and hope for quick action on bank balance sheets via troubled asset relief programs from the government might have diverted attention away from gloomy earnings for a bit, but even the earnings news today has some bright spots that are attracting attention. Over across the pond, business software maker SAP AG topped the earnings forecast and helped European shares move toward a . . .