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Small-cap stocks took a sizable hit today and finished off the first full week of the New Year’s trading with a resounding thud as an unsettling report on employment rekindled worries about the recession, consumer spending and the credit crunch. The Russell 2000 (NYSE:IWM) closed down 20.71, or 4.13% at 481.30 and is now down 3.6% for the year, generating the largest one-day drop of 2009 in the process. Selling in small-caps was much more fierce than that seen in the Dow, which was only off 1.6% for the day; for the year, the Dow is down 2%, while the S&P 500 is down 1.4%.

In recent weeks, the market has often tried to rally in the face of troubling economic data, but the bulls just weren’t eager to shrug off this morning’s jobs report, which showed the unemployment rate rising to a 16-year peak. What’s more, unemployment is widely expected to climb in the next couple of months; earlier today, bond giant PIMCO chief Bill Gross said that “we’re only halfway home” as far as job losses are concerned in the U.S.

The headline figure on today’s employment report – the number of non-farm payroll jobs lost ...

Greenbrier Companies Inc (Nasdaq:GBX), Wright Express Corp (Nasdaq:WXS) and Yucheng Technologies Ltd (Nasdaq:YTEC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Jones Apparel Group Inc (Nasdaq:JNY), BPZ Resources Inc (Nasdaq:BPZ), Thermadyne Holdings Corp (Nasdaq:THMD), Taylor Capital Group Inc (Nasdaq:TAYC), Bank of the Ozarks Inc (Nasdaq:OZRK) and Cascade Bancorp (Nasdaq:CACB).

PMFG Inc. (Nasdaq:PMFG), North American Galvanizing & Coatings Inc. (Nasdaq:NGA) and Yucheng Technologies Ltd. (Nasdaq:YTEC) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.      

Also included among the results: Alto Palermo (Nasdaq:APSA), LECG Corp.(Nasdaq:XPRT), Salix Pharm (Nasdaq:SLXP), Encore Bancshares Inc (Nasdaq:EBTX), Berkshire Bancorp Inc. (Nasdaq:BERK) and TeleCommunication Systems Inc. (Nasdaq:TSYS).         

Here are the biggest percentage losers among small caps:    

Omrix Biopharmaceuticals Inc (Nasdaq:OMRI), Micromet Inc (Nasdaq:MITI) and LoJack Corp (Nasdaq:LOJN) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.           

Also included among the results: Yucheng Technologies Ltd (Nasdaq:YTEC), PMFG Inc (Nasdaq:PMFG), Industrial Services of America Inc (Nasdaq:IDSA), i2 Technologies Inc (Nasdaq:ITWO), InterVoice Inc (Nasdaq:INTV) and Saia Inc (Nasdaq:SAIA).      

Here are the most actively traded companies among small caps:       

Small-cap stocks pushed higher Thursday, snapping a string of four consecutive losing days as investors found relief from an intraday reversal in crude oil prices. The Russell 2000 (NYSE:IWM) closed up 5.90, or 0.81%, at 733.01.

“Today was all about reacting to crude oil. In fact, [Wednesday] was about crude oil and Friday is going to be about crude oil. When prices get this extreme at the gas pump, it really makes you wonder if we’re approaching the breaking point for the consumer. If they don’t have discretionary money to spend on things other than gas, then it’s going to have a negative rollover effect on everything else,” said Dominic Boyle, market strategist with Lind-Waldock, in a phone interview.

In order for equity markets to sustain the rally off the March lows, Boyle said, “we will have to get confirmation from crude” in the form of a top, or at least a dramatic slowdown in the escalation of energy prices. After a new record high overnight at $135 dollars a barrel, crude oil futures slipped back to about $131 during the U.S. trading session and left a little potential topping pattern by making new highs and closing lower.

As crude oil tilted off the highs today, the greenback chewed up some recent lost ground, rising about 0.6% against the euro and 1.2% versus the yen. In general, a strong dollar of late has been seen as a positive signal for equities, associated with investment flow into U.S. stocks, and potential unwinding of short dollar/long commodity trades.

In addition, some of today’s upbeat psychology may have been stoked by news of a big acquisition, with NRG Energy Inc. (NYSE:NRG) tendering a bid to purchase Calpine Corp. (NYSE:CPN) for a stock deal worth about $11 billion. If there are . . .

Santander Bancorp (Nasdaq:SBP), Vivus Inc (Nasdaq:VVUS) and Perry Ellis International Inc (Nasdaq:PERY) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $750 million.

Yucheng Technologies Ltd (Nasdaq:YTEC), Citi Trends Inc (Nasdaq:CTRN) and Isramco Inc (Nasdaq:ISRL) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

China Techfaith Wireless Communication Technology Ltd (Nasdaq:CNTF), Yucheng Technologies (Nasdaq:YTEC) and Paragon Shipping (Nasdaq:PRGN) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $750 million.

Optium Corp (Nasdaq:OPTM), DrdGold ADR (Nasdaq:DROOY) and Trico Marine Services Inc (Nasdaq:TRMA) are also among the most actively traded companies.

Here are the most actively traded companies among small caps:

Small-cap stocks pushed higher Thursday, lifted by asset flow into equities, demand for technology shares trickling down from the large-cap issues and a perception that credit conditions are on the improve. The Russell 2000 (NYSE:IWM) rose 7.31, or 0.99%, to 743.28, the highest daily close since Jan. 3.

“I think investors are underweight equities, and in recent weeks there has been movement out of cash and treasuries into stocks,” Nick Kalivas, vice president of financial research with MF Global, told SmallCapInvestor.com.

Kalivas said that a narrowing of credit spreads after the JP Morgan purchase of Bear Stearns and the Fed’s aggressive open door policy on liquidity to the dealer community has sparked buying in equities. In addition, huge debt issuance in the last few weeks has bolstered corporate balance sheets.

“I think money has come to stocks because of robust profits in the non-financial sector and the macro news has not shown further meaningful weakness in the economy. I also don’t think players want to be too short given the injection of stimulus from tax rebate checks and other measures,” Kalivas said. Simply put, stocks are cheap relative to treasuries and cash, which attracts money flow into equities.

More attractive pricing of DRAM products appears to be pulling investors toward tech issues. What’s more, the possibility of great new “toys” from big-cap players like Research in Motion (Nasdaq:RIMM), with the touch screen Blackberry, and Apple Inc. (Nasdaq:AAPL), with its iPhone upgrades spreads goodwill down to all tech stocks, big and small. Hey, we’re all kids at heart, and there’s nothing like . . .

Small caps gained shallow ground midday on the heels of Fed Chairman Bernanke’s sanguine comments surrounding the aftermath of the credit crisis and banks’ recent abilities to raise capital in response.

At 1:08 p.m. ET, the Russell 2000 (NYSE:IWM) edged up 3.89, or 0.53%, to 739.96 while the Dow gained 51.37, or 0.4%, to 12,949.75.

In a prepared statement to a Chicago Fed conference, Bernanke offered encouraging remarks this morning when he addressed lessons learned from the credit debacle. The Fed Chair said conditions remain delicate and encouraged banks to continue being “proactive” in raising needed capital to create new profit opportunities as the economy and financial markets improve.

“Importantly, capital raising and balance sheet repair allow for the extension of new credit, which supports economic expansion,” Bernanke said.

He also noted that banks that closely monitored valuation inaccuracies of financial instruments fared better.

In economic news, investors shrugged off a slew of downbeat data. The Philadelphia Fed survey clocked in at negative 15.6, which was better than the projection for a decline of 19. That report followed disappointing numbers from the release of Industrial Production and the New York Manufacturing Survey, both of which pointed to a bleak manufacturing activity. Industrial Production was pegged at minus 0.7%, which was below the forecast for a dip of 0.3%. Meanwhile, the NY Manufacturing data came in at minus 3.23 for May, below the forecast for 0.00.

In addition, the Weekly Claims report edged slightly higher to 371,000, which was just above the forecast of 370,000.

Yucheng Technologies (Nasdaq:YTEC), Amtech Systems Inc (Nasdaq:ASYS) and Perceptron Inc (Nasdaq:PRCP) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

CapitalSouth Bancorp (Nasdaq:CAPB), WSP Holdings Ltd (Nasdaq:WH) and Steak n Shake Company (NYSE:SNS) are also among the biggest percentage losers.

Here are the biggest percentage losers among small caps:

Small-cap shares were hovering near steady levels in morning activity, absorbing a large batch of data and Fed speak without any major price gyrations. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.63, or 0.09%, at 735.43.

The Philly Fed survey came in at minus 15.6, which was better than the projection for a decline of 19. That report was on the heels of the Industrial Production release and the NY Manufacturing Survey, providing quite a bit of data this morning on the manufacturing front — none of it all that upbeat. Industrial Production was pegged at minus 0.7%, which was below the forecast for a dip of 0.3%. Meanwhile, the NY Manufacturing data came in at minus 3.23 for May, below the forecast for 0.00.

In addition, the Weekly Claims report edged slightly higher to 371,000, which was just above the forecast of 370,000.

While investors were busy digesting a glut of morning economic data, Federal Reserve Chairman Ben Bernanke was busy talking about financial institutions and how to better prepare for crisis situations. His basic comments have been stated before, and the market appeared to focus on other factors for early direction.

Crude oil prices jumped back higher this morning, and were trading above $125 dollars a barrel. Pump prices around the country have spiked higher this week, which could crimp consumer spending habits. A direct victim of higher gas prices would appear to be retailers, but they have been fairing well of late, with the S&P Retail Index climbing yesterday and on solid footing this morning following better-than-expected . . .

The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open with a drop on weak economic news.

The U.S. Commerce Department did not change its initial estimate for fourth-quarter economic growth, reaffirming its preliminary projection for a 0.6% annual rate. The economy grew 4.9% during the third quarter.

More worrying than the preliminary GDP number, today’s estimate revised upward inflation gauges.

Separately, the U.S. Labor Department said that jobless claims for the week ended Feb. 23 increased.

The Russell 2000 was basically flat at the close Wednesday, after stalling near Tuesday’s highs, leaving yet another double-top formation on daily studies. The index finished at 716.44, down 0.88 point, or 0.12%, and traded in a relatively tame range given the potential volatility that could have flared up around Federal Reserve Chairman Ben Bernanke’s testimony.

Bernanke's back on the docket today at 10:00 a.m. ET, testifying on the economy before the Senate Banking Committee. Although much of the tilt may be a repeat of Wednesday’s Congressional presentation, there could be fresh bits that filter through and have an impact on stocks. Look for resistance Thursday at 723.50 and 731, while support looms down at 712, 704 and 694.

The Russell 2000 (IWM) and the other major U.S. indices lost big today as news of a steep decline in the services sector led to recession fears. The small-cap index let go 21.88 points, or 3.02%, to 701.58. The Dow Jones Industrial Average (INDU) was off 370.03 points, or 2.93%, to 12,265.13.

On a year-to-date basis, the Russell 2000 has shed 8.41%, while the Dow has retreated 7.54% and the S&P 500 has shed 8.97%.

The bears ran the show today as news of an unexpectedly deep drop in U.S. services in January sparked a sell-off.

The Institute for Supply Management said that its index of non-manufacturing dropped to 41.9 in January from 54.4 in December. The result is far worse than the one expected by economists. A reading above 50 is a sign of growth.

Services comprise about 75% of U.S. gross domestic product and a decline would surely throw off an economy already beset with a slump in the housing sector, a credit squeeze and a pullback of consumer spending into recession.

Or maybe a recession has already started.

Either way, investors reacted to news of the biggest one-month decline in services in seven years by selling everything in sight. The makers of construction and raw materials suffered the most, follower by insurance companies and those manufacturing agricultural machinery. No single group of stocks posted a gain.

Separately, Banc of America Securities contributed to the bearish mood when it downgraded Yahoo! Inc. (Nasdaq: YHOO) to “neutral” from “buy.”

The Russell 2000 was trending down during the entire session, skidding to its lowest level at the close.

Yucheng Technologies Ltd. (Nasdaq: YTEC), a Chinese IT services provider to the local banking industry, reported fourth-quarter results significantly higher than Wall Street was forecasting and issued new guidance for fiscal 2008 above the consensus estimate.

For the three months ended Dec. 31, 2007, the small cap recorded net income of $4.3 million, or $0.26 per share, above the Thomson Financial mean earnings estimate of $0.18 per share. The current quarter’s bottom line compares with net income of $2.3 million, or $0.27 per share, for the same quarter last year. The net income number excludes amortization expenses of intangible assets of $0.31 million related to the firm’s acquisition of e-Channels.

Revenue totaled $23.5 million, an increase of 89% over the $12.4 million for the same period last year. Susquehanna Financial analyst James Friedman was forecasting revenue of $16.4 million for the quarter.

IT solutions and services revenue for the fourth quarter grew 193% from the same period in 2006, mainly driven by increased sales from product lines in Yucheng’s on-line banking, call center, risk management and core banking businesses.

“The company continues to enjoy the secular demand by Chinese banks for basic technologies, including ATM, online banking, and point of sale credit card processing,” Friedman wrote in a research note today.  The analyst reiterated his “Positive” rating on the stock today.

The Russell 2000 (NYSE: IWM) futures are down and the small-cap index will open with a drop on news of a tech sector downgrade.

Stocks small and large are pointing to a lower opening on news that Banc of America Securities has downgraded Yahoo! Inc. (Nasdaq: YHOO) to “neutral” from “buy,” saying that the Sunnyvale, Calif.-based search engine is struggling to revive its online advertising business and compete with rival Google Inc. (Nasdaq: GOOG).

Additionally, Banc of America Securities thinks that the proposed $45 billion dollar buyout acquisition of Yahoo! by Microsoft Corp. (Nasdaq: MSFT) could face regulatory hurdles, particularly in the 27-member European Union.

Investors will be looking ahead to the Institute for Supply Management’s report on the service sector in January, due at 10 a.m. ET. Economists are expecting to see a small decrease.

Yucheng Technologies Ltd. (Nasdaq: YTEC), a local IT and outsourced service provider to the Chinese banking industry, this morning said it sealed major contract wins with the Bank of Shanghai to provide follow-on ancillary solutions to its online banking system, which Yucheng previously built.

Yucheng began working with Bank of Shanghai in 2004 by building its online banking system. Under the current contract, the small cap will further integrate and upgrade the bank's channel management systems in an effort to improve the bank’s customer service.

Shares of Yucheng Technologies (YTEC) were halted in pre-market trading.

Yucheng Technologies Ltd. (Nasdaq: YTEC), a local IT and outsourced service provider to the Chinese banking industry, this morning reported contract wins with China Construction Bank (CCB), to provide credit asset and non-performing asset management and monitoring services.

The contact, which amounts to $1.5 million, further extends Yucheng’s relationship with CCB, as the company has established working relationships in the past with China Construction Bank in the areas of online banking, call center and risk management.

Shares of Yucheng Technologies (YTEC) gained $0.88, or 5.76%, to $16.15 ahead of the opening bell. Shares of Yucheng Technologies have been trading in the range of $5.38 to $18.01 for the past 52 weeks.

China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF), City Telecom (H.K.)Ltd (Nasdaq: CTEL) and Yucheng Technologies Ltd (Nasdaq: YTEC) are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $750 million:

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) fell for the second day in a row on news of housing and subprime concerns and record oil prices. The small-cap index let go 6.01 points, or 0.72%, to 823.35. The Dow lost 71.86 points, or 0.51%, to 13,912.94.

On a year-to-date basis, the Russell 2000 has increased 4.56%, while the Dow has added 11.53%.

Predictions by high-level U.S. officials that the slump in the housing sector will get worse and slow down economic growth brought out the bears today, as small and large caps ended in the red for the second consecutive day.

After the close on Monday, Fed chairman Ben Bernanke said that the slump in the housing sector is expected to get worse and be a drag on economic growth going into 2008. Treasury Secretary Henry Paulson made similar comments at Georgetown University’s law school today, adding that the federal government should work to avoid foreclosures and prevent property values from falling further.

As if to confirm the downcast predictions, the National Association of Home Builders announced that its monthly home builder confidence index fell more than expected in October to a record low.

Contributing to the negative mood was news of weaker-than-expected third-quarter earnings for Wells Fargo & Company (NYSE: WFC). CEO John Stumpf blamed disruptions in the credit markets.

Yucheng Technologies Limited (Nasdaq: YTEC), a local IT and outsourced service provider to the Chinese banking industry, said this morning that it secured three risk management contract wins with the Agricultural Bank of China, Bank of Beijing, Huishang Bank and Guangdong Development Bank.

Under the contracts, which in aggregate are valued at approximately $1 million, Yucheng will provide services including project management, consulting, software implementation, and on-going support and staff training. The contracts will cover the areas of fund transfer pricing, asset and liability management and cost allocation analysis.

Yucheng said it was awarded these contracts in conjunction with leading global software vendors in the financial services industry.

Shares of Yucheng (YTEC) jumped 10.82, or $1.44, to $14.75 in pre-market trading. Shares of Yucheng have been trading in the range of $6.47 to $13.40 since it’s been public.

Hoku Scientific, Inc. (Nasdaq: HOKU), Yucheng Technologies Ltd. (Nasdaq: YTEC) and China Technology Development Group Corp. (Nasdaq: CTDC) are the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $750 million:

China Technology Development Group Corp. (Nasdaq: CTDC), Novatel Inc. (Nasdaq: NGPS) and AMREP Corp. (NYSE: AXR) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

Shares of Yucheng Technologies Ltd. (Nasdaq: YTEC) are higher following news before the opening bell that the Chinese IT company signed three contracts worth a total of about $8.9 million.

All three contracts reportedly involve the provision of call center solution and implementation services to China Construction Bank. Beijing-based Yucheng will assist the commercial bank with call center integration and will upgrade and extend the capacity of its national credit card call center.

“We are excited to further develop and strengthen our working relationship with China Construction bank,” said CEO Weidong Hong in a statement.

China BAK Battery Inc. (Nasdaq: CBAK), China Precision Steel, Inc. (Nasdaq: CPSL) and LJ International, Inc. (Nasdaq: JADE) are the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million: