Tag - Ufi

The Russell 2000 (NYSE:IWM) pushed higher Friday, gaining a boost from merger activity in the banking sector, a jump in restaurant shares and a lift from news of a rescue plan for automakers. All of those factors help offset sloppy action in commodities, and worries about retailer sales into a key shopping weekend. Some of today’s small-cap gainers are Provident Bankshares (Nasdaq:PBKS), MAP Pharmaceuticals (Nasdaq:MAPP) and Rubicon Technology (Nasdaq:RBCN).

Other Market Watch highlights today included:

• Tech stocks were a noteworthy source of strength Friday.
• Energy and commodity physical markets struggled today, weighed down by concerns about demand amid slumping economic conditions.
• Crude oil futures eventually closed down $2.35 a barrel, or 6%, at $33.87, the lowest close for a nearby contract since February 2004.
• Retailer shares were a source of weakness for stocks today, a gloomy note into what has been billed as the busiest shopping weekend of the entire year.
• Looking ahead to next week’s action, the market will be facing what is historically one of the slowest weeks of the year. 

Small Cap Gainers:

• M&T Bank Corporation will qcquire Provident Bankshares Corp. (Nasdaq:PBKS); shares of PBKS closed up a whopping 60% on the news.
• MAP Pharmaceuticals Inc. (Nasdaq:MAPP) soared 36% on unusually . . .

Love that new car smell? Or how that sofa cradles your body just so? Or what about that water resistant jacket you practically live in during rainy season? 

Such comforts in life are the life’s work of fabric makers such as Unifi Inc. (NYSE:UFI). The Greensboro, N.C.-based small cap prides itself on providing a diversified line of polyester and nylon textured yarns and related raw materials that are both consumer-friendly and environmentally conscious.

With about 16 brands being distributed among eight global industries, Unifi has positioned itself to endure market fluctuations such as recent rises in raw materials and operating costs as well as general economic slumps.

In its latest earnings report on Oct. 30, Unifi said it narrowed its fiscal first-quarter net loss by 93% to $0.68 million, or $0.01 a share, while net sales decreased less than 1% to $169 million.

“During the quarter, volume started out ahead of plan but softened in September as the economy weakened,” Ron Smith, Unifi’s chief financial officer, said in a statement. “We are reacting quickly and decisively to an uncertain market caused by the economic slowdown and significant fluctuations in our raw material prices. This price volatility, combined with softening volumes, will have a negative impact on our conversion margin in the December quarter, but we expect to see improvement as we move into the second half of our fiscal year.”

Recent declines in home and auto sales have impacted Unifi’s volume in those segments and are expected to continue at least through the end of the year. And, while president and CEO Bill Jasper acknowledged the immediate obstacles ahead, he . . .

Life Partners Holdings Inc. (Nasdaq:LPHI), Emergent BioSolutions Inc. (Nasdaq:EBS) and Unifi Inc. (Nasdaq:UFI) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

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

Emergent BioSolutions Inc. (Nasdaq:EBS) and Unifi Inc. (Nasdaq:UFI) are the 52-week highs among companies with market capitalizations under $1 billion.

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

Diamond Foods Inc. (Nasdaq:DMND), Unifi Inc. (Nasdaq:UFI) and TreeHouse Foods Inc. (Nasdaq:THS) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion

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

These are the biggest percentage losers at 10:44 ET among companies with market capitalizations under $500 million: