Tag - Sr

Optimism for a $25 billion aid package for embattled U.S. carmakers may have played a supportive role in the rally action today, with the Russell 2000 (NYSE:IWM) closing up nearly 6%. Some of today’s small-cap gainers are Future Canada China Environment (OBB:FCCE), Newstar Financial (Nasdaq:NEWS) and Standard Register (NYSE:SR).

Other Market Watch highlights today included:

• Commodity markets stabilized Tuesday morning, which was a big relief after crude oil collapsed 9% Monday.
• Optimism for a $25 billion aid package for embattled U.S. carmakers may have played a supportive role in the action today.
• Financial stocks were among the top performers today, with the Financial Select Sector SPDR Fund up 5%. 
• Homebuilder shares were surprisingly stout, with the ISE Homebuilder Index climbing 7.5%. 
• Drug stocks, banks, airlines and insurance companies also were strong performers today.
• Crude oil prices fell $2.32 a barrel, or 4.7% to $46.96. 

Small Cap Gainers:

• Future Canada China Environment Inc. (OBB:FCCE) jumped 50%, but the move took place on very light volume; this unknown entity has suddenly stormed to $15 a share after debuting in mid-October as a nickel stock.
• NewStar Financial (Nasdaq:NEWS) closed up 24% as small financial firms dominated gainers on Tuesday.
• Standard Register (NYSE:SR) jumped 28% as the document services . . .

Small-cap stocks staged a solid recovery rally Tuesday, recovering a hefty slice of the historic collapse from Monday’s freefall but remaining in the shadow of that epic decline. Strength today stemmed from short-term oversold conditions, hope for a rescue bail-out of automakers as well as bargain hunting in financial and homebuilder shares. The Russell 2000 (NYSE:IWM) closed up 24.75, or 5.93%, at 441.82. The Russell is now down 42% for 2008, while the Dow is off 37% and the S&P 500 is down 42%.

Optimism for a $25 billion aid package for embattled U.S. carmakers may have played a supportive role in the action today, but stock in General Motors Corp. (NYSE:GM) came tumbling down from a steep morning rally after word got out that November vehicle sales collapsed 41.3% versus the same month last year. Executives from the Big 3 automakers submitted plans to Congress for the bail-out proposal. Ford Motor Co. (NYSE:F) was the first to release their plan, which called for a $9 billion loan, no executive bonuses, a reduction in dealers and new plans for electric cars. Into the close, GM shares were up slightly, while Ford was up about 4%.

Financial stocks were among the top performers today, with the Financial Select Sector SPDR Fund up 5%, including another sizable rise in Citigroup Inc. (NYSE:C), which was up 9%. Smaller banks and financial firms dominated the best percentage movers as well.

Homebuilder shares were surprisingly stout, with the ISE Homebuilder Index climbing 7.5%. Within the small-cap universe, KB Home (NYSE:KBH) jumped 9.5%, Lennar Corp. (NYSE:LEN) rallied 14.1% and Centex Corp. (NYSE:CTX) rose 11.5%. Perhaps the group was simply oversold, and perhaps some of the move was tied to hopes that further rate cuts and the government’s new push on lowering longer-dated debt rates would revive the sagging housing industry. On Monday, Federal Reserve Chairman Ben Bernanke intimated that the Fed could purchase long-term products and that sentiment was echoed today by Philadelphia Federal Reserve Bank President Charles Plosser, who said that the Fed certainly can buy Treasury products and . . .

Williams-Sonoma Inc. (Nasdaq:WSM), Medicis Pharmaceutical Corp. (Nasdaq:MRX) and Agree Realty Corp. (Nasdaq:ADC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Standard Register Co. (Nasdaq:SR), SuccessFactors Inc. (Nasdaq:SFSF), CPI International Inc. (Nasdaq:CPII), Advanced Medical Optics Inc. (Nasdaq:EYE), Textainer Group Holdings Ltd. (Nasdaq:TGH) and Forest City Enterprises (Nasdaq:FCE.A).

The Standard Register Company (NYSE:SR) has shed more than 12% today after announcing its second-quarter results fell below analysts’ expectations. For the quarter ended June 29, net income was $1.4 million, or $0.05 per share, compared with a net loss of $4.6 million, or $0.16 a share, for the same quarter a year ago. Wall Street was expecting earnings per share of $0.08. Revenues were $198.8 million, versus $211.2 million for the period a year earlier.

“Our revenue definitely reflects the effects of softening business activity among many of our customers during the first two quarters of this year,” said president and CEO Dennis Rediker.

Shares of the Dayton, Ohio-based custom printing company are off $1.19 at $9.07. Trading volume is more than double the average number of shares. The stock has ranged from $7.08 to $14.70 during the past year.

Cepheid (Nasdaq:CPHD), Integra Bank Corp (Nasdaq:IBNK) and Affymetrix Inc (Nasdaq:AFFX) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ultratech Inc (Nasdaq:UTEK), Oneida Financial Corp (Nasdaq:ONFC), Abaxis Inc (Nasdaq:ABAX), South Finl Group (Nasdaq:TSFG), Standard Register Co (Nasdaq:SR) and Gencor Industries Inc (Nasdaq:GENC).

Here are the biggest percentage losers among small caps:

Small-cap stocks were expected to open solidly higher Friday morning, in line with overnight gains on stock index futures. The Russell 2000 (NYSE:IWM) was up about 0.5% in after-hours trading, which would translate to a cash opening near 721.

The high for the recent move was at 723.86, just shy of key long-term chart resistance at 724. If that resistance area is tackled, then it would open the door for a run toward a double top from early February at 731. Looking at other major index products, the Dow already is at the highest price since January, and the S&P 500 is hovering about five handles below 1,400 in overnight trading, which could be an important figure test for the bulls.

Once again, overnight gains were fueled by solid earnings results, particularly in the financial sector, driven by American Express (NYSE:AXP), which was up about 3% following better-than-forecast results.

Overseas stock market trading also lent support to small caps, with European shares climbing to three-week highs, as the European DJ Stoxx 50 was up about 1.6% and Japan’s Nikkei up 2.3%. In addition, the dollar remained firm, and was . . .

AirTran Holdings, Inc. (NYSE:AAI), Clayton Holdings, Inc. (Nasdaq:CLAY) and Quixote Corp. (Nasdaq:QUIX) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Cleveland BioLabs, Inc. (Nasdaq:CBLI), Hardinge Inc. (Nasdaq:HDNG) and The Standard Register Co. (NYSE:SR) are also among the top small-cap percentage gainers.

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

Executives of the print products maker The Standard Register Company (NYSE: SR) said during a morning conference call that the company’s $40 million cost cutting plan will not significantly damage positive indicators reported in the first quarter. During the first three months of the year ended April 1, the company’s print-on-demand business was up 7.6% over last year, document systems was up 16.7% and other operating segments rose 11.4%.

“These restructuring and cost plans sometimes lead to all kinds of speculation and we wanted to clear that up before we got to the [earnings] call later this week,” CEO Dennis Rediker said during the call.

On Friday, the Dayton, Ohio company announced it is firing 250 employees, which will represent $22 million annually in expenses. Standard Register said the eliminated employees were primarily in management and overhead positions, with 70 jobs in the Dayton area.

Standard Register employs approximately 3,500 workers at 24 warehouses and 32 plants nationwide. Earlier in the year, the company announced it is consolidating its manufacturing and warehousing operations. The consolidation is expected to save the company $5 million annually, according to a statement.

Rediker said the cost cutting – and subsequent lower debt - does not mean there will be a significant buyback of shares.

“We still have the same philosophy as we had before. This is about getting our operations earnings up and getting our cash flow where it needs to be,” he said.

Gigabeam Corp. (Nasdaq: GGBM), Cumulus Media Inc. (Nasdaq: CMLS) and China Shenghuo Pharmaceutical Hldg, Inc. (AMEX: KUN) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers: