Tag - Syms

Tween Brands Inc. (Nasdaq:TWB), Dollar Thrifty Automotive Group Inc. (Nasdaq:DTG) and Isramco Inc. (Nasdaq:ISRL) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Syms Corp. (Nasdaq:SYMS), Elizabeth Arden Inc. (Nasdaq:RDEN), CPI International Inc. (Nasdaq:CPII), Herman Miller Inc. (Nasdaq:MLHR), Ener1 Inc. (Nasdaq:HEV) and Christopher & Banks Corp. (Nasdaq:CBK).

Syms Corp. (Nasdaq:SYMS), MAP Pharmaceuticals Inc. (Nasdaq:MAPP) and Rome Bancorp Inc. (Nasdaq:ROME) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CAI International Inc. (Nasdaq:CAP), Arena Pharmaceuticals Inc. (Nasdaq:ARNA), Vitran Corp Inc. (Nasdaq:VTNC), Yadkin Valley Financial Corp. (Nasdaq:YAVY), Northern Technologies International Corp. (Nasdaq:NTIC) and Kohlberg Capital Corp. (Nasdaq:KCAP).

Lions Gate Entertainment Corp. (Nasdaq:LGF), Zion Oil and Gas Inc. (Nasdaq:ZN) and Daktronics Inc. (Nasdaq:DAKT) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Stewardship Financial Corp. (Nasdaq:SSFN), Hooker Furniture Corp. (Nasdaq:HOFT), MasTec Inc. (Nasdaq:MTZ), Kadant Inc. (Nasdaq:KAI), Meritage Homes Corp. (Nasdaq:MTH) and Syms Corp. (Nasdaq:SYMS).

If you had a chance to catch the article on page C5 in yesterday's The Wall Street Journal you probably found affirmation of what you already know about small cap stocks. It seems that Russell Investments (as in the folks from the Russell 2000 index, among others) have recently re-examined the stock market's performance coming out of recessions and they indicate there's strong evidence to suggest that small cap value stocks outperform all other coming up from the bottom.

Recent experience since the market bottom on March 9, 2009 further corroborates this thesis. We've already seen that the majority of gainers on any particular day have been small caps. Just look at some of the big gainers from just this past week: MAP Pharmaceuticals (Nasdaq:MAPP), SYMS Corp. (Nasdaq:SYMS), AgFeed Industries (Nasdaq:FEED), Central Jersey Bancorp (Nasdaq:CJBK), FreeSeas, Inc. (Nasdaq:FREE), Exelixis (Nasdaq:EXEL) and Dynacq Healthcare (Nasdaq:DYII), just to name a few.

And recently an analyst from Morningstar, Bradley Kay, looked back even further to 1931 and noticed that there was a big performance difference between large cap and small cap stocks during recessions and recoveries. He further stated, "small cap stocks very much lead out of a recession."

This was my strategy in 2001 through 2003 when I started my first small cap service, Growth Report, and continues to be my focus with my SmallCapInvestor PRO service (you can get more information HERE) as we've already put in 12 out of 13 winners for the year.

The time is now to load up on small cap stocks.

In today's trading news, as of 12:00 p.m. Eastern today, the DJIA and Nasdaq are posting minor losses while the S&P 500 is just barely above even from the opening bell.

Russell 2000 Index stocks are up 0.02% at 492.32, a 43.4% increase since the March 9, 2009 lows.

Small caps leading the market today include Green Plains Renewable Energy (Nasdaq:GPRE) up 30.6% in today's trading, Penson Worldwide (Nasdaq:PNSN) up 16.5%, and J Crew Group (NYSE:JCG) up 23.9% on beating analysts' Q1 EPS expectations: JCG reported earnings per share of $0.32 while analysts called for $0.10. Analysts are now revising their full-year 2010 EPS estimate to $1.15 versus an earlier estimate of $0.54.

*****The high close for the Nasdaq since the rally began was 1,763. Yesterday's close was 1,751. For the S&P 500, the high close was 929 and it closed at 906 yesterday.

I mention these levels because they are what traders are watching. Some believe that, since the indices haven't taken out prior highs, the recovery rally is overdone and that a sharp sell-off is coming. Others say the recession is ending, the economy is improving, and there's more upside coming. To them, any weakness in stock prices is consolidation for the next move higher.

It should be remembered that the Nasdaq is still around 800 points, or 32% of its 2008 highs. The S&P 500 is 660 points, or 42% off its 2008 highs. So it's not like the indices are anywhere near prior levels. Who's to say what should be a decent target for a recovering stock market?

*****We can always check price-to-earnings ratios. (I'll use numbers from the Wall St. Journal's Market Data Center. This is one of my secret weapons, but, since I'm here to help, I'll share the link so you can bookmark it --  http://online.wsj.com/mdc/public/page/marketsdata.html#calandeco )

For the S&P 500, the trailing P/E is 15, and the forward number, based on estimates, is 15.75. For the Nasdaq, the trailing P/E is 13 and the forward number is 18.

Neither index seems extended on a price-to-earnings basis.

Oil hit a new high at $65, and inventories in the U.S. have dropped 3 weeks running. Traders believe increased demand as a result of increased economic activity is coming sooner rather than later. And bond prices have been falling, which is what you expect to see when stocks offer a more attractive risk/reward scenario.

Of course, one could also say prices fall when traders know there is a virtually unlimited supply of Treasuries hitting the market as the government needs to raise a lot of cash.

But explaining away numbers can be a bad idea. Because when we do that, we're letting our own bias creep in. That's exactly what happened last year when the drumbeat of a coming crisis started. So many pundits explained the numbers away with rosy talk.

*****The unemployment rate is nearly at 9%. Most believe double digits are inevitable. And what's worse, some are saying that high unemployment of 6%-7% may persist for years. But that doesn't necessarily mean that corporate profits will get worse from where they are now. Perhaps the current P/E ratios for the Nasdaq and the S&P 500 are appropriate. Maybe there's even some upside.

In my opinion, what's worrisome is that the next shoe to drop is still the first shoe - banks. There's no doubt that the rally for financials has come on the government's dime (that would be your tax dollars and debt to be paid by your children and grandchildren, of course). Refinances, mortgage and consumer debt modifications, investment gains from TARP money - these are all one-off windfalls. They blew in, and they will very likely blow right back out. What then?

Bank of America (NYSE:BAC) currently has a forward P/E of 10. Compound annual growth for the next 5 years is 7.6%. BAC also has $225 billion more debt than cash. Quite frankly, I don't see any upside to BAC. And that makes me worry about the downside.

*****As you know, I've pointed out moments where it looked as though stocks were about to head lower with comments like "cracks are showing" or "the news cycle is turning negative." So far, no significant downside has occurred. Of course, that doesn't mean it won't.

Consumer confidence has been steadily rising, and stock prices show it. We're also moving into the summer months, which are traditionally the worst months for stocks. 

For now, the best advice is an observation - a trend is in place until it turns. There's no reason to simply sell or take downside positions now. But keep your eye in things, apply stop losses to your positions and we'll see what happens.

If you want to get a clearer idea of what's going to be happening in the markets, be sure to check out TradeMaster's Jason Cimpl sharing his thoughts on the SPX, which tracks the S&P 500. He's calling for the near term for a bullish trend. You can view the video HERE (no registration or sign up required).

Small caps lead today’s market (as of 2:30 p.m. Eastern) with the Russell up 4.62%, the Nasdaq up 3.27%, and the Dow Jones Industrial Index up 2.43%. Select small cap stocks leading the market include MAP Pharmaceuticals (Nasdaq:MAPP) up 173.02%, SYMS Corporation (Nasdaq:SYMS) up 20.1%, and with AgFeed Industries (Nasdaq:FEED) a 17.5% one day gain.

*****I hope every one had a fun and relaxing Memorial Day weekend. Pools are open, school is winding down, and summer is almost here.

There were some fireworks over the weekend, but the not the fun kind. North Korea’s Kim Jong Il staged a nuclear bomb test and fired a couple short-range missiles. It’s reported that stocks in Asia were lower after the tests, but I think we need to be more clear about the risk that North Korea poses to the financial markets.

Kim Jong Il has a long history of provocative actions that are usually designed to give him leverage. In essence, he’ll stop the tests if the world gives him money. Sure, it’s blackmail. But it’s been the easiest way to deal with the pest, especially if you’re South Korea or Japan as his primary targets, or the U.S. as the first line of defense for those nations.

I expect we are moving toward a situation where blackmail money isn’t enough. There will probably be a UN Security Council resolution and more pressure on North Korea to cease and desist.

But is North Korea’s nuclear testing really a market moving event? I’d have to say no, it is not.

*****Investors have already ramped stock prices in the face of significant economic problems. Of course, there are some pretty strong signs that the economic free-fall has stopped and the financial sector has stabilized. In this environment, corporate earnings can be expected to stabilize and that means it’s once again possible to make somewhat reliable valuation estimates for individual stocks.

In other words, a measure of uncertainty has been removed from corporate earnings. That’s what’s fueled the rally since March 10th. There’s less risk of massive earnings revisions, and that’s showed up in the VIX.

*****The VIX is the Volatility Index kept by the Chicago Board Option Exchange (CBOE). The VIX measures how much it costs to hedge a portfolio with put options against a 10% drop in the S&P 500.

The specifics of hedging with put options aren’t important here. The point is that the VIX has dropped to its lowest levels since September 12, when Lehman Bros. declared bankruptcy.

The VIX is low because institutional investors are not using put options to hedge their stock holdings. This can mean two things: investors believe stock prices are heading higher; or, as Bloomberg suggests, many investors don’t have enough profits to justify the expense of hedging. Each has very different implications.

*****If institutional investors believe there’s more upside, great. We can expect the rally to continue, or at worst, stabilize. But if investors don’t have enough profits to justify the hedging expense, it suggests they’ll simply sell at the first sign of trouble to lock in what gains they have. That’s not as good because that could send stock prices sharply lower.

*****Contrarian investment wisdom says that “When the VIX is low, it’s time to go.” This means that when investors ignore market risk, and send the VIX to low levels, a situation of “irrational exuberance” is created and it’s time to keep an eye on the exits.

But the VIX has a ways to go before it starts to indicate that investors are overly optimistic. For now, I think we’re better off interpreting the relatively low levels on the VIX as an indication that much of the systemic risk to stocks has been removed.  

Now, we have to get through the summer months, which is traditionally the worst period of the year for stocks…

How do you interpret the VIX and the numbers we’re seeing? Are you planning to load up on shares or take profits at the first sign of market weakness?

MAP Pharmaceuticals Inc. (Nasdaq:MAPP), Syms Corp. (Nasdaq:SYMS) and AgFeed Industries Inc. (Nasdaq:FEED) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Oxford Industries Inc. (Nasdaq:OXM), Tween Brands Inc. (Nasdaq:TWB), iPCS Inc. (Nasdaq:IPCS), Origin Agritech Ltd. (Nasdaq:SEED), Cedar Income Fund REIT (Nasdaq:CDR) and Monotype Imaging Holdings Inc. (Nasdaq:TYPE).

Osiris Therapeutics Inc. (Nasdaq:OSIR), Volt Information Sciences Inc. (Nasdaq:VOL) and McGrath Rent Corp. (Nasdaq:MGRC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Syms Corp. (Nasdaq:SYMS), Zoltek Companies Inc. (Nasdaq:ZOLT), OYO Geospace Corp. (Nasdaq:OYOG), Basic Energy Services Inc. (Nasdaq:BAS), Independence Holding Co. (Nasdaq:IHC) and Digi International Inc. (Nasdaq:DGII).

T 3 Energy Services Inc. (Nasdaq:TTES), Susser Holdings Corp. (Nasdaq:SUSS) and General Communication Inc. (Nasdaq:GNCMA) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Old Second Bancorp Inc. (Nasdaq:OSBC), Central Pacific Financial Corp. (Nasdaq:CPF), Syms Corp. (Nasdaq:SYMS), Imperial Sugar Co. (Nasdaq:IPSU), CPI International Inc. (Nasdaq:CPII) and PHI Inc. (Nasdaq:PHIIK).

Albany International Corp. (Nasdaq:AIN) and Syms Corp. (Nasdaq:SYMS) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Norwood Financial Corp. (Nasdaq:NWFL), BigBand Networks Inc. (Nasdaq:BBND), Auburn National Bancorp Inc. (Nasdaq:AUBN), Emergent Group Inc. (Nasdaq:LZR), Lacrosse Footwear Inc. (Nasdaq:BOOT) and eLong Inc. (Nasdaq:LONG).

NetScout Systems Inc. (Nasdaq:NTCT), SL Green Rlty  (Nasdaq:SLG) and VAALCO Energy Inc. (Nasdaq:EGY) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Old Second Bancorp Inc. (Nasdaq:OSBC), Syms Corp. (Nasdaq:SYMS) and Ferro Corp. (Nasdaq:FOE) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Green Bankshares Inc. (Nasdaq:GRNB), IPG Photonics Corp. (Nasdaq:IPGP), G&K Services Inc. (Nasdaq:GKSR), Kadant Inc. (Nasdaq:KAI), Bank of Marin Bancorp (Nasdaq:BMRC) and Schawk Inc. (Nasdaq:SGK).

Cepheid (Nasdaq:CPHD), IPG Photonics Corp. (Nasdaq:IPGP) and Syms Corp. (Nasdaq:SYMS) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Zep Inc. (Nasdaq:ZEP), American Greetings Corp. (Nasdaq:AM), Facet Biotech Corp. (Nasdaq:FACT), Old Second Bancorp Inc. (Nasdaq:OSBC), K12 Inc. (Nasdaq:LRN) and Primeenergy Corp. (Nasdaq:PNRG).

Analogic Corp. (Nasdaq:ALOG), Primeenergy Corp. (Nasdaq:PNRG) and VisionChina Media Inc. (Nasdaq:VISN) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: RCN Corp. (Nasdaq:RCNI), Doral Financial Corp. (Nasdaq:DRL), Actuant Corp. (Nasdaq:ATU), Thermadyne Holdings Corp. (Nasdaq:THMD), Syms Corp. (Nasdaq:SYMS) and Rex Stores Corp. (Nasdaq:RSC).

Small-cap stocks were in rally mode Tuesday morning, taking flight in response to signs of a thaw in the credit market freeze, oversold conditions that brought out bargain hunters and a sizable jump in overseas equities markets. From an economic data perspective, today’s consumer confidence report and Case-Shiller Home Price Index releases were somber at best.  Today’s small-cap gainers are Apria Healthcare Group Inc. (NYSE:AHG), Syms Corp. (Nasdaq:SYMS) and Smith Micro Software (Nasdaq:SMSI).

Other Market Watch highlights today included:

• Crude oil prices were up about $1 a barrel this morning, helped along by a mild dip in the U.S. dollar against the euro.  
• European energy stocks also were in rally mode today, which should provide a lift to U.S. energy stocks as well.  
• After a global rout in equities Monday, investors came in today with relief that stocks in Asia and Europe were in rally mode instead of deepening the slide. 
• The dip in Libor rates also corresponds with the FOMC meeting, which began today and which should result in a rate cut Wednesday afternoon. 
• Small-cap stocks were in rally mode Tuesday morning, currently up 2% and taking flight in response to signs of a thaw in the credit market freeze.

Small Cap Gainers:

• Apria Healthcare Group Inc. is rallying 45%. Its stock will cease to trade publicly when a merger with The Blackstone Group is completed; shares will be converted into $21 cash. See (NYSE:AHG).  
• Syms Corp. is up 18%, trying to reverse Monday’s decline to fresh closing lows. See (Nasdaq:SYMS).
• Dell Selects Smith Micro Software to Deliver Universal Connection Management Software, up 5%. See (Nasdaq:SMSI).  
• Schnitzer Steel cautioned markets in early F09 have significantly weakened and it is uncertain when improvements may be seen. (Nasdaq:SCHN).  

Small Cap Losers:

• Ceradyne reports Q3 net income tumbles 40%, guides 2008 below the Street. See (Nasdaq:CRDN).  
• The nation’s largest rent-to-own operator Rent-A-Center reduces Q4 outlook on severity of financial crisis, down 33%. See (Nasdaq:RCII).  
• Martha Stewart misses analysts estimate by penny, issues Q4 and 08 revenue below Street. See (NYSE:MSO).
• Buffalo Wild Wings’ EPS fall short of Street view, expects sales and EPS growth in 25% range for full year, just shy of the Street.  (Nasdaq:BWLD).  

Small-cap stocks were in rally mode Tuesday morning, taking flight in response to signs of a thaw in the credit market freeze, oversold conditions that brought out bargain hunters and a sizable jump in overseas equities markets. From an economic data perspective, today’s consumer confidence report and Case-Shiller Home Price Index releases were somber at best. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 8.74, or 1.95%, at 457.14.

The consumer confidence report came in at 38, which was a new record low and way below the forecast of 52.0. The stock market pulled back modestly after the dour confidence report, but the damage wasn’t as severe as the startling number might have suggested.

Earlier this morning, the Case-Shiller Home Price Index came in at minus 16.6, which was in line with the forecast but still reflected a record decline in home prices. Since the report met the forecast and since the data is a little dated (for August prices) stock futures had a brief dip on the report, but then recovered into the opening.

Libor, or inter-bank lending rates continue to pull back, which investors see as a sign that credit lines are starting to unclog and that banks are developing trust in one another again. The dip in Libor rates also corresponds with the FOMC meeting, which began today and which should result in a rate cut Wednesday afternoon.

After a global rout in equities Monday, investors came in today with relief that stocks in Asia and Europe were in rally mode instead of deepening the slide. In Japan, the Nikkei index collapsed to 26-year lows Monday, but bounced some 6% overnight. Also, European shares rallied about 4% into the U.S. open, lifted in no small way by a bizarre run in Volkswagen shares, which soared some 80% and are up . . .

Crocs Inc. (Nasdaq:CROX), DRDGold, Ltd. (Nasdaq:DROOY) and UAL Corp. (Nasdaq:UAUA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Radyne Corp. (Nasdaq:RADN), East West Bancorp Inc. (Nasdaq:EWBC), The Medicines Company (Nasdaq:MDCO), ParkerVision, Inc. (Nasdaq:PRKR), Advanced Battery Technologies, Inc. (Nasdaq:ABAT), Pool Corporation (Nasdaq:POOL) and Syms Corp. (Nasdaq:SYMS).

Here are the most actively traded companies among small caps:

Small-cap stocks pulled lower Monday, unable to escape the familiar bearish shadow of rising crude oil prices and slumping financial shares. The Russell 2000 (NYSE:IWM) tumbled 5.92, or 0.82%, to 719.81, the second-lowest daily close since early May.

Small caps were noticeably soft relative to the large-cap Dow, which found comfort from energy-related gains in Exxon Mobil Corp. (NYSE:XOM), which gained about 2.3% to play a supportive role for the Dow 30.

Speaking of energy, crude oil prices climbed about 1% past $136 dollars a barrel, a brazen show of support given the fact that Saudi Arabia pledged to increase production. However, the possibility of more supplies was lapped up amid worker strikes in Nigeria and heightened Middle East tensions following last week’s news that Israel staged a large practice military strike against Iran’s nuclear production facilities.

The U.S. dollar managed to push higher today despite the rally in crude oil prices, gaining about 0.5% against the euro and about 0.4% versus the yen. However, advances in the greenback were trimmed back from better levels seen into the U.S. stock market opening, when soft Eurozone economic data bolstered the buck.

Every new trading day seems to bring with it a new bearish scare for the battered financial sector and today’s fright du jour was a warning from influential analysts at Goldman Sachs that the credit crunch will get a “second wind” and that junk bond defaults will rise more quickly than expected. Goldman also said that regional . . .

Taylor Capital Group Inc (Nasdaq:TAYC), United Community Bancorp (Nasdaq:UCBA) and Syms Corp (Nasdaq:SYMS) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Jazz Pharmaceuticals Inc (Nasdaq:JAZZ), Pzena Investment Management Inc (Nasdaq:PZN), MBT Financial Corp (Nasdaq:MBTF), Peerless Manufacturing Co (Nasdaq:PMFG), Washington Banking Co (Nasdaq:WBCO) and Community Partners Bancorp (Nasdaq:CPBC).

Here are the biggest percentage losers among small caps:

NutriSystem Inc. (Nasdaq:NTRI), TRC Companies, Inc. (NYSE:TRR) and Income Opportunity Realty Investors, Inc. (AMEX:IOT) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

California First National Bancorp (Nasdaq:CFNB), Dynacq Healthcare, Inc. (Nasdaq:DYII) and Syms Corp. (Nasdaq:SYMS) are also among the top small-cap percentage gainers.

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