Tag - Tar

Audiovox Corp. (Nasdaq:VOXX), A Power Energy Generation Systems Ltd. (Nasdaq:APWR) and ICT Group Inc. (Nasdaq:ICTG) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN), AEP Industries Inc. (Nasdaq:AEPI), InterMune Inc. (Nasdaq:ITMN), Cooper Companies Inc. (Nasdaq:COO), Telefonica de Argentina (Nasdaq:TAR) and Coleman Cable Inc. (Nasdaq:CCIX).

Small-cap stocks pushed higher Friday, lifted by a rise in commodity markets, which in turn provided a lift to commodity-themed stocks. Energy markets were a key component on the commodity rise, with crude oil prices up 6.6%, helping offset weakness in financial shares. Volume was extremely light Friday as many market participants took advantage of Thursday’s Christmas holiday to carve out a four-day weekend. The Russell 2000 (NYSE:IWM) closed up 6.28, or 1.34%, at 476.77, and is now down 38% for 2008. The Dow is off 36% for the year, while the S&P 500 is down 41%.

Today’s light volume, limited range affair was remarkably similar to Wednesday’s session, which saw the thinnest one-day range since the whole stock market collapse kicked into gear back in mid-September. On a weekly basis, this was also the tightest range seen in several months.

When looking at sector activity today, commodities were a recurring upside theme, with metals and mining firms, gold stocks, aluminum, oil and gas drillers ranking among the best performing sectors. The U.S. dollar was down modestly against the euro, but this appeared to be more a push for commodity markets than simply a value play based on foreign exchange movement. The Commodity Research Bureau Index was up about 1.3% on the day, with energy, grains and metals leading the way. Gold prices were up 2.7% to a weekly high, and grain markets took flight amid concerns about . . .

Small caps collapsed today, setting fresh intraday and closing lows. The Russell 2000 (NYSE:IWM) closed down 5%, the lowest daily close since Aug. 2003. Today’s small-cap gainers are Dineequity (Nasdaq:DIN), Penn National Gaming (Nasdaq:PENN) and Riverbed Technology (Nasdaq:RVBD).

Other Market Watch highlights today included:

• Small caps continue to be punished relative to their large-cap brethren as the bear market incites a “bigger is better” mentality.
• The Russell 2000 is now down 41% for 2008, while the Dow is off 38% and the S&P 500 is down 42%.
• Just a few weeks ago, the percentage spread favored the Russell over the Dow by more than 10 percentage points, but when the market went into collapse mode small caps suffered.
• The dollar stormed to fresh highs against the euro today, reaching the highest point since April 2006.
• Commodities have already been tanking in recent weeks, putting commodity sensitive economies like those in South America and Russia in a dire position. 

Small Cap Gainers:

• Dineequity Inc. closed up 54% on surprisingly stout earnings news. See (NYSE:DIN).
• Penn National Gaming closed up nearly 5% after Q3 EPS vaulted on settlement payment, raises 2008 earnings guidance. See (Nasdaq:PENN). 
• UBS raises Riverbed Technology to “neutral” from “sell.” Shares closed up 5%. See (Nasdaq:RVBD). 

Small Cap Losers:

• Savient Pharmaceuticals paced the decliners, closing down some 73% and gapping lower on heavy volume. See (Nasdaq:SVNT). 
• Sunrise Senior Living Inc. tumbled 32% to fresh 52-week lows. See (NYSE:SRZ).
• Telefonica De Argentina closed down 22% as South American ADRs continue to struggle amid pension fund troubles in Argentina and worries about the sharp drop in commodity values. See (NYSE:TAR). 

Small-cap stocks retained modest losses into midday trading, unable to join large-cap indices in positive territory as worries about a global recession and slumping corporate profits continue to spark flight out of equities. An upside surprise on new home sales helped put some enthusiasm back into things, but it wasn’t enough to generate a complete turnabout in choppy trading. At 12:36 p.m. ET, the Russell 2000 (NYSE:IWM) was down 5.07, or 1.08% at 466.05.

Technology shares continued to lag the Dow and S&P 500, but not to the same extent as the Russell 2000. Tech stocks were weighed down by concerns about spending for technology in a growth-challenged global environment and by reports of loans for technology coming into default problems. Tech bellwether Microsoft Corp. (NYSE:MSFT) was down 3.2% and was one of the bigger drags on large caps.

Commodity stocks were also on wobbly footing so far today, pressured by a soaring U.S. dollar and by fears that a slowdown would crimp demand for physical goods, especially if China begins to see dramatic slowing. Crude oil prices tumbled to a 17-month low earlier today but trimmed losses as the equity market in the U.S. stabilized without too much downside probing.

Looking at broad sector activity today, insurance companies, tire and rubber stocks, coal, investment banks, office electronics, home furnishings, steel and oil exploration shares were among the worst performers. On the upside, agriculture products, regional banks, education services, telecoms, general merchandise and department stores were the top draws.

Looking at individual small caps of note, Calgon Carbon Corp. (NYSE:CCC) was down 24%, sinking to fresh 52-week lows. Telefonica De Argentina (NYSE:TAR) was off 26% as South American ADRs continue to struggle amid pension fund troubles in Argentina and worries about the sharp drop in commodity values. On . . .

Martin Midstream Partners LP (Nasdaq:MMLP), Telefonica de Argentina ADR Rep 40 B ord shs (Nasdaq:TAR) and US Global Investors Inc. (Nasdaq:GROW) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Aixtron ADR (Nasdaq:AIXG), Cavium Networks Inc. (Nasdaq:CAVM), Evergreen Solar Inc. (Nasdaq:ESLR), Silicon Motion Technology Corp. (Nasdaq:SIMO), WNS Holdings Ltd. (Nasdaq:WNS) and AirMedia Group Inc. (Nasdaq:AMCN).

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