Tag - Tbbk

Royal Bank Pennsylvania (Nasdaq:RBPAA), CryptoLogic Ltd. (Nasdaq:CRYP) and Reddy Ice Holdings Inc. (Nasdaq:FRZ) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.   

Also included among the results: China East Air (Nasdaq:CEA), Bancorp Bank (Nasdaq:TBBK), Physicians Formula Holdings Inc. (Nasdaq:FACE), Radiant Systems Inc. (Nasdaq:RADS), HMN Financial Inc. (Nasdaq:HMNF) and ExlService Holdings Inc. (Nasdaq:EXLS).        

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

Small-cap stocks edged slightly lower in early trading, with the Russell 2000 (NYSE:IWM) down 1.09, or 0.15%, at 720.79 at 10:00 a.m. ET.

The market found support into the opening on news that Mars Inc. and Warren Buffet’s Berkshire Hathaway (NYSE:BRK) were acquiring Wrigley (NYSE:WWY) for a reported $22 billion to $23 billion. Buffet said his stake was $6.5 billion and that he was acting as a financing agent for the deal. From a broad market standpoint, merger and acquisition activity helps suggest that the worst of the credit crunch may be in the market’s rear view mirror. Wrigley shares were up about 28% on the opening.

In addition, Kirk Kerkorian’s Tracinda Corp. said it would purchase 20 million shares of Ford Motor Co. (NYSE:F) at $8.50 a share, which was up $1 from Friday’s close. Ford shares were up about 9% after the opening.

It was interesting that the market was not initially higher in the wake of this morning’s news, but it’s possible that any boost from the M&A news could be dulled at this stage because of the big economic risk still ahead of traders this week. Wednesday serves up first quarter preliminary GDP, otherwise known as part of the “official recession” question, and then we’ll also have an FOMC announcement Wednesday . . .

Small-cap shares are expected to open modestly higher Monday after tame overnight gains. The Russell 2000 (NYSE:IWM) rose about 0.3% in after-hours trading, which would equate to a cash opening near 723.50.

Stocks are expected to find an early bid in line with gains in overseas stock index products. Japan’s Nikkei was up 0.2%, Hong Kong’s Hang Seng was up 0.59%, the Aussie market was up 0.2% and the European DJ Stoxx 50 was up about 0.85%. European shares were lifted by talk that some analysts were saying that the worst of the credit issue was in the past for big European banks.

A psychological lift this morning could be tied to news of a $22-billion takeover of Wrigley (NYSE:WWY) by Mars Inc. and Warren Buffet’s Berkshire Hathaway (NYSE:BRK). Buffet said on CNBC this morning that he was a “financing partner” in the deal, accounting for about $6.5 billion of the acquisition. Seeing merger and acquisition activity in the current market environment could ease some of the ongoing concerns about the credit crunch. Wrigley shares were up a whopping 28% in after-hours trading.

Also, Kirk Kerkorian’s Tracinda Corp. said it would make a cash offer for 20 million shares of Ford Motor Co. (NYSE:F) at $8.50 a share, which is a . . .