Tag - Rsh

NCI Building Systems Inc. (Nasdaq:NCS), Cynosure Inc. (Nasdaq:CYNO) and Stepan Company (Nasdaq:SCL) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: eLong Inc. (Nasdaq:LONG), RadioShack Corp. (Nasdaq:RSH), Northrim BanCorp Inc. (Nasdaq:NRIM), Actuant Corp. (Nasdaq:ATU), Wausau Paper Corp. (Nasdaq:WPP) and Insteel Industries Inc. (Nasdaq:IIIN).

The Russell 2000 (NYSE:IWM) rallied nearly 5% today after Fed Chairman Ben Bernanke said the recession may end in 2009. Some of today’s small-cap gainers were Hifn, Inc. (Nasdaq:HIFN), Rambus (Nasdaq:RMBS) and United Natural Foods (Nasdaq:UNFI).

Other Market Watch highlights today included:

• The Consumer Confidence Index plunged more than 12 points in February to 25, from 37.4 last month, and far below the predicted 35.5 level.
• The Standard & Poor's/Case-Shiller U.S. National Home Price Index released horrid data today showing a plung of more than 18% during the quarter from the prior-year period. This is the largest drop in its 21-year history.
• The Federal Housing Finance Agency also said today that home prices dropped more than 8 percent in the quarter from a year earlier, its largest annual decline on record since 1991.
• Fed Chairman Ben Bernanke spoke to Congress, pledged to use all available tools to lift the country out of the recession.
• Bernanke said the U.S. economy will probably keep shrinking in the first six months of the 2009, but is hopeful that the recession will end this year. 
• The Russell 2000 closed up 17.90, or 4.54%, to 412.48.
• The Dow rose more than 230 points, or 3.3%, to 7,350.94; S&P 500 closed about 4% to 773.14.
• For the year, the Russell is now down 17.41%, while the Dow has is down 16.24% and the S&P 500 is down 14.4%.

Small Cap Gainers:

• Exar Corporation signs definitive agreement to acquire Hifn, Inc. Shares of HIFN rocket 62% at closing. See (Nasdaq:HIFN).
• High Court denies FTC antitrust review of Rambus, sending shares 40% higher. See (Nasdaq:RMBS).
• United Natural Foods climbed 20% after posting higher Q2 earnings, updating FY09 forecast. See (Nasdaq:UNFI).

Small Cap Losers:

• Heartland Payment Systems guided below estimates, shares tumbled 30%. See (NYSE:HPY).
• RadioShack fell 24% today after seeing a 39% Q4 net drop on falling margins, sales. See (NYSE:RSH).
• Apparel small-cap Hanesbrands was down 7% after announcing it will review its long-term growth strategies, capital structure and the 2009 business environment. See (NYSE:HBI).

Who says the good old-fashioned style of business (schmoozing, shaking hands and face-to-face selling) is a thing of the past?
 
This year's China Sourcing Fair, a four-day event held last month at the AsiaWorld-Expo, Hong Kong's largest convention and exhibition facility, saw record attendance, featuring 3,200 suppliers, 26% more than the previous year (and a 33% increase in exhibitors from Mainland China). The fair brought together manufacturers, distributors, sales professionals and purchasing agents from all over Asia. Additional China Sourcing Fairs are scheduled for Dubai next month and Hong Kong again in October. These events are attended by representatives of some of the world's largest brands, including Samsung, Sony Corp. (NYSE:SNE), Cisco Systems (Nasdaq:CSCO), Radio Shack (NYSE:RSH), Philips (NYSE:PHG), Siemens (NYSE:SI) and The Chubb Corporation (NYSE:CB).
 
The annual fairs are but one of several marketing venues being used by Global Sources Ltd. (Nasdaq:GSOL), the event's organizer, to help its clients pitch new products, make valuable contacts and nail sales in China's hot marketplace.

Based in Bermuda, Global Sources is a China-focused business-to-business media, communications and marketing agency that uses trade shows, exhibition fairs, marketing websites, trade publications and seminars to connect international buyers with pre-screened suppliers. Its clients do business across a wide range of industry sectors, including computer products (hardware, software and peripherals), electronic gadgets and components, telecom and security products, clothing and textiles, auto parts and accessories, household goods and gifts. In all, the company . . .

The Russell 2000 (NYSE: IWM) managed a late-minute razor-thin gain while the major U.S. indices made solid advances on news of strong earnings and speculation of a rate cut. The small-cap index added 0.33 points, or 0.04%, to 821.72. The Dow Jones Industrial Average (INDU) gained 63.56 points, or 0.46%, to 13,870.26.

On a year-to-date basis, the Russell 2000 has increased 4.36%, while the Dow has added 11.19% and the S&P 500 has gained 8.78%.

The small-cap futures were pointing up before the start of trading following news that New York-based Verizon Communications Inc. (NYSE: VZ), the second largest U.S. telecommunications company, reported that revenue for the third-quarter increased 5.8% to $23.8 billion from $22.5 billion a year earlier.

Contributing to the bullish sentiment were retailers RadioShack Corp. (NYSE: RSH) and Best Buy Co. Inc. (NYSE: BBY), which reported upbeat third-quarter earnings.

Among small-cap companies, North American Galvanizing & Coatings (Nasdaq: NGA) rose on news that third-quarter profit more than doubled, while compact construction equipment maker Gehl Co. (Nasdaq: GEHL) fell on news of a decline in profit.

The major U.S. indices opened in positive territory and stayed there throughout the session.

However, small-caps were the exception. The Russell 2000 moved up initially but quickly stumbled and stayed in negative territory during the majority of the session, battling back into the green with just minutes before the close.

The Russell 2000 lost nearly two percent today, while investors struggled to make sense of conflicting economic data.  In small cap action, a drop in fourth-quarter net income lowered shares of Comarco, Inc. (Nasdaq: CMRO), while Sterling Financial Corporation (Nasdaq: SLFI) said it will revise its recent financial statements.

The Russell 2000 lost 15.13 points, or 1.82 percent, to 814.57, reflecting the biggest percentage loss among the major indices.  The Dow Jones Industrial Average lost 58.03 points, or 0.44 percent, to 13,062.91.

The Russell 2000 is below the flat line in midday trading, while the Dow is on track for a new record close.  Among small caps, shares of Sigma Designs, Inc. (Nasdaq: SIGM) are sagging on news of an analyst downgrade, while positive analyst coverage has boosted Bankrate, Inc. (Nasdaq: RATE).

At 2:32 p.m. ET the Russell 2000 had lost 5.82 points, or 0.70 percent, to 823.88.  The Dow Jones Industrial Average was up 16.01 points, or 0.12 percent, to 13,136.95.