Tag - Tdbk

The Russell 2000 (NYSE:IWM) unraveled in the final hour of trading as the weight of crumbling commodity stocks, a raft of sloppy profit reports and another batch of dreary economic data countered a sturdy performance in retail, homebuilder and bank stocks. Some of today’s small-cap gainers are ParkerVision (Nasdaq:PRKR), Tidelands Bancshares (Nasdaq:TDBK) and Insulet Corp. (Nasdaq:PODD).

Other Market Watch highlights today included:

• The weekly claims report this morning came in at 509,000, historically a big number but below the forecast of 540,000. 
• The four-week moving average on claims rose to 524,500 which was above 518,250 from last week and is at the highest point in 26 years.
• Today investors juggled a raft of disappointing profit reports against the bullish scenario from a fresh batch of global rate cuts.
• For 2008, the Russell is off 43%, while the Dow is down 37% and the S&P 500 is down 42%.
• Energy shares were a major drag on the market today, with crude oil prices tumbling to the lowest level in nearly four years. The Energy Select Sector SPDR Fund tumbled nearly 7%.
• Copper prices slumped to the lowest closing price in more than three years, losing 5% during U.S. trading.
• The Commodity Research Bureau Index of 19 physical markets slipped 3.7% and made new bear market lows. 
• Several firms today announced plans for sizable layoffs, a chilling thought heading into Friday’s monthly employment report.
• Homebuilder stocks, retailers and financial issues staged solid rallies . . .

Small-cap stocks hovered near steady levels into mid-session trading, with support from retail, homebuilder and financial shares countered by sinking energy and technology shares. Some of today’s small-cap gainers are ParkerVision, Inc.  (Nasdaq:PRKR), Tidelands Bancshares (Nasdaq:TDBK) and Insulet Corp. (Nasdaq:PODD).

Other Market Watch highlights today included:

• The slide in physical markets took a toll on energy stocks as well, with the Energy Select Sector SPDR Fund down 3.3%.  
• Crude oil prices tumbled to near four-year lows amid worries about a global recession, finding little comfort in a fresh string of rate cuts  
• In a familiar theme this week, homebuilder shares were still a hot item today. The ISE Homebuilders Index was up more than 7%.  
• The International Council of Shopping Centers said that November sales plunged a record 2.7% on a year-over-year basis.

Small Cap Gainers:

• ParkerVision, Inc. and LG Innotek enter into joint development agreement; PRKR pops 60%. See (Nasdaq:PRKR).
• Tidelands Bancshares up 47% on light volume. See (Nasdaq:TDBK).  
• Insulet Corp. rose 23% as the medical device company that specializes in diabetes continues to climb after bottoming out in late November. See (Nasdaq:PODD). 
• Buckle Inc. rose 22% as the apparel and accessory merchant registered a 15% jump in comp store sales. See (NYSE:BKE).  

Small Cap Losers:

• Dynamex Inc. dropped 21%, gapping lower as the delivery and logistics provider also took a lump after reporting earnings. See (Nasdaq:DDMX).  
• Diamond Foods Inc. gapped lower and tumbled 20% as investors weren’t impressed with earnings results from the snack foods distributor. See (Nasdaq:DMND).  
• Movado Group Inc. is down 15% as the boutique operator and fashion distributor took a hit after releasing earnings. See (NYSE:MOV).