Tag - Wsm

Small-cap stocks extended the rally into midday trading, boosted by a bounce in financial and energy shares after those sectors were drummed during Monday’s massive rout. Oversold conditions, bargain hunting and optimism about a bailout for beleaguered automakers fueled the upside pop.  Some of today’s small-cap gainers are Colonial Properties Trust (NYSE:CLP), Deltek Inc. (Nasdaq:PROJ) and Williams-Sonoma Inc.  (NYSE:WSM).

Other Market Watch highlights today included:

• Automaker remained higher into midday as investors waited word on progress for an aid package to stave off potential failure for the Big 3.  
• Airline stocks were up 5.5%, outperforming the broad market.
• The ISE Homebuilders Index was up 7% also a sign of relief after all of the economy worries pounded stocks Monday.  
• Among S&P sectors, REITS, wireless telecoms, broadcasting firms and diverse financial services companies were the best performers.


Small Cap Gainers:

• Colonial Properties Trust jumped 38% after the multifamily real estate investment trust announced dividends. See (NYSE:CLP).
• Deltek Inc. rose 34% as the software designer generated a big outside bullish reversal on daily charts following Monday’s swoon. See (Nasdaq:PROJ). 
• Williams-Sonoma Inc. jumped nearly 25% as the retailer operator of Pottery Barn received analyst upgrades. See (NYSE:WSM).  
• Advanced Medical Optics Inc. rose 22%, reversing a sizable decline from Monday. See (NYSE:EYE).  
• US Airways Group Inc. and Alaska Air Group Inc. were both up about 8%, as airline stocks are flying high today. See (NYSE:LCC) and (NYSE:ALK).

Small Cap Losers:

• Palm Inc. tumbled 34% as the smart phone maker lowered quarterly projections. See (Nasdaq:PALM).
• Clearwire Corp. tumbled 20% on reports that the firm may slow its high-speed WiMax wireless network progress because of the tight credit market situation. See (Nasdaq:CLWRD).  
• Skyworks Solutions Inc. gapped lower and slumped 13% after the analog semiconductor firm lowered guidance. See (Nasdaq:SWKS).

Small-cap stocks extended the rally into midday trading, boosted by a bounce in financial and energy shares after those sectors were drummed during Monday’s massive rout. Oversold conditions, bargain hunting and optimism about a bailout for beleaguered automakers fueled the upside pop. At 12:30 p.m. ET, the Russell 2000 (NYSE:IWM) was up 20.74, or 4.97%, at 437.81.

Now that the Russell pushed through the first short-term resistance line at 433.50, the next test will be up at 442 if the market can hold above 433.50 through the afternoon. A pullback should find mild support along 424, then down at 413.50 if things deteriorate.

General Electric Co. (NYSE:GE), seen as a proxy for the overall economy because of its diverse group of products, was up 10% at mid-session, providing a lift not just to large caps, but a ripple through to small caps as well.

In addition, commodity markets were on a rising tide today after getting clobbered Monday, which bolstered commodity shares. Even though crude oil prices were hovering near steady levels, energy stocks were up about 2.5%. Among S&P sectors, REITS, wireless telecoms, broadcasting firms and diverse financial services companies were the best performers. The ISE Homebuilders Index was up 7% also a sign of relief after all of the economy worries pounded stocks Monday. Airline stocks were up 5.5%, outperforming the broad market, with small-cap carriers US Airways Group Inc. (NYSE:LCC) up nearly 8% and another small-cap firm Alaska Air Group Inc. (NYSE:ALK) also up about 8%.

Automaker shares remained higher into midday as investors waited word on progress for an aid package to stave off potential failure for the Big 3. Ford Motor Co. (NYSE:F) submitted a plan calling for $9 billion in loans. The plan would also cancel global executive bonuses, would cut dealers and include development of electric cars. Ford stock was up 10% on the news, leapfrogging (on a percentage basis) General Motors Corp. (NYSE:GM), which was leading Ford overnight, but which . . .

Williams-Sonoma Inc. (Nasdaq:WSM), Medicis Pharmaceutical Corp. (Nasdaq:MRX) and Agree Realty Corp. (Nasdaq:ADC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Standard Register Co. (Nasdaq:SR), SuccessFactors Inc. (Nasdaq:SFSF), CPI International Inc. (Nasdaq:CPII), Advanced Medical Optics Inc. (Nasdaq:EYE), Textainer Group Holdings Ltd. (Nasdaq:TGH) and Forest City Enterprises (Nasdaq:FCE.A).

Small-cap stocks shot higher Monday, adding to the big rise from Friday afternoon as the market found relief in a big rescue plan for the nation’s No. 2 bank and continued to express enthusiasm for economic staff appointments by President-elect Obama. The Russell 2000 (NYSE:IWM) closed up 30.24, or 7.44%, at 436.78, generating the largest two-day surge since the short-lived Oct. 10 bottom. For the year, the Russell is down 43%, while the Dow is off 36% and the S&P 500 is down 42%.

The day got off to a rocking start on news that the government would guarantee some $306 billion in toxic assets from Citigroup Inc. (NYSE:C). The nation’s No. 2 bank had been in collapse mode in recent days, sparking fear that the bank could fail or be forced to sell off assets, which in turn could trigger systemic risk in the financial landscape. In addition to the asset guarantee, the government announced a direct $20 billion injection into Citigroup, all of which was good news for shareholders, as Citigroup’s stock jumped some 51% today. The PHLX KBW Banking Index surged 16%.

Energy and commodity names were a big part of the rally today, as beaten down stocks in those arenas benefited from both the stock market rally and by a sharp decline in the U.S. dollar against the euro. Crude oil prices caught fire today, climbing $4.57 a barrel, or 9.1%, providing a boost to energy companies in the process. The Financial Select Sector SPDR Fund rose 8.4%.

Another downtrodden area that caught investor enthusiasm today was the retail universe, fitting as we head toward the big “Black Friday” kick off of the official holiday shopping season. The S&P Retail Index jumped 10% and several small-cap retailers benefited from a wave of bargain hunting on that front.

President-elect Obama served up his second major press conference today since he won the vote in early November. The market rallied hard late Friday when news of some of his top picks for economic advisor positions started to leak out. The big news of course was that Obama had tabbed New York Federal Reserve President Timothy Geithner as Treasury Secretary, and today Obama ran down the rest of . . .

Atlas Pipeline Holdings L. P (Nasdaq:AHD), VistaPrint Ltd. (Nasdaq:VPRT) and CTS Corp. (Nasdaq:CTS) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Clean Energy Fuels Corp. (Nasdaq:CLNE), ECB Bancorp Inc. (Nasdaq:ECBE), Wright Express Corp. (Nasdaq:WXS), Williams-Sonoma Inc. (Nasdaq:WSM), Bruker Corp. (Nasdaq:BRKR) and Oceanfreight Inc. (Nasdaq:OCNF).

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

CTS Corp. (Nasdaq:CTS), Wright Express Corp. (Nasdaq:WXS) and VistaPrint Ltd. (Nasdaq:VPRT) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Williams-Sonoma Inc. (Nasdaq:WSM), Atlas Pipeline Holdings L P (Nasdaq:AHD), Clean Energy Fuels Corp. (Nasdaq:CLNE), Ultimate Software Group Inc. (Nasdaq:ULTI), Vocus Inc. (Nasdaq:VOCS) and Stewart Information Services Corp. (Nasdaq:STC).

Here are the biggest percentage losers among small caps: