Tag - Zep

RC2 Corp. (Nasdaq:RCRC), Zep Inc. (Nasdaq:ZEP) and Alkermes Inc. (Nasdaq:ALKS) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Heritage Crystal Clean Inc. (Nasdaq:HCCI), A. Schulman Inc. (Nasdaq:SHLM), ATMI Inc. (Nasdaq:ATMI), Diodes Inc. (Nasdaq:DIOD), AZZ Inc. (Nasdaq:AZZ) and DealerTrack Holdings Inc. (Nasdaq:TRAK).

Cepheid (Nasdaq:CPHD), IPG Photonics Corp. (Nasdaq:IPGP) and Syms Corp. (Nasdaq:SYMS) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Zep Inc. (Nasdaq:ZEP), American Greetings Corp. (Nasdaq:AM), Facet Biotech Corp. (Nasdaq:FACT), Old Second Bancorp Inc. (Nasdaq:OSBC), K12 Inc. (Nasdaq:LRN) and Primeenergy Corp. (Nasdaq:PNRG).

Hansen Medical Inc (Nasdaq:HNSN), Green Bankshares Inc (Nasdaq:GRNB) and Tennant Co (Nasdaq:TNC) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: IPG Photonics Corp (Nasdaq:IPGP), Flushing Financial Corp (Nasdaq:FFIC), Zep Inc (Nasdaq:ZEP), Facet Biotech Corp (Nasdaq:FACT), Schawk Inc (Nasdaq:SGK) and Cepheid (Nasdaq:CPHD).

Small-cap stocks started out the week with a whimper, extending Friday’s slide as investors unload stocks amid fears about corporate profits during one of the worst recessions in history. Energy and commodity markets were hammered today, which escalated selling interest in companies with close ties to physical markets and reinforced worries about the slumping economy in front of another push of data later this week. The Russell 2000 (NYSE:IWM) closed down 12.50, or 2.60%, at 468.80, the lowest daily close of 2009. For the year, small caps are down 6.1%, while the Dow is off 3.4% and the S&P 500 is down 3.7%. The fact that small caps are still leading the way down so far this year is cause for concern, running contrary not only to bottoming hopes, but also a season that is supposed to favor small caps.

Financial stocks – particularly banks – joined commodities as a noteworthy soft spot for equities today, but in reality the pain was spread around just about everywhere. Looking at S&P sectors, only distillers and packaged food companies had noticeable gains; meanwhile sizable declines in the double digit range were found in all of the following sectors: industrial real estate investment trusts, tire and rubber companies, metal and mining stocks, coal producers, homebuilders, diverse financial services firms, steel companies and construction firms.

Energy stocks were a big drag on the market, with the Energy Select Sector SPDR Fund off 3.8%. Crude oil futures in the U.S. closed down nearly 8%, shedding $3.24 down to $37.59. But the story in commodities today comprised much more than just energy; grains markets were ravaged, with corn sinking some 7% in the morning to touch limit losses. Meanwhile, gold lost 4% and the Gold and Silver Index fell 6.5%, with mining stocks among the worst performers on the day. While some of the losses in commodities might have been exacerbated by a strong dollar, it is primarily a reflection of soft demand amid difficult times. The Commodity Research Bureau Index fell 4% today, which is a big one-day moving for an index that reflects price action in 19 different physical markets.

Today marks the unofficial start of first-quarter earnings season, and investors were bracing for plenty of bad news on the profit front. After the close, Alcoa Inc. (NYSE:AA) reported a larger-than-expected loss. Alcoa closed down . . ..

Landrys Restaurants Inc. (Nasdaq:LNY), Zep Inc. (Nasdaq:ZEP) and Hiland Partners LP (Nasdaq:HLND) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Forest City Enterprises (Nasdaq:FCE.A), Developers Diversified Realty REIT (Nasdaq:DDR), Patriot Coal Corp. (Nasdaq:PCX), Century Aluminum Co. (Nasdaq:CENX), Simcere Pharmaceutical Group (Nasdaq:SCR) and Danaos Corp. (Nasdaq:DAC).

Small-cap stocks edged lower in a fairly weak start to this week’s trading, pulled down by worries about corporate profits as we enter the unofficial start of earnings season this afternoon. Energy and commodity stocks were a source of worry early today as crude oil futures extended the recent slide.  Some of today’s small-cap gainers are A-Power (Nasdaq:APWR), Aladdin Knowledge Systems (Nasdaq:ALDN) and Hologic (Nasdaq:HOLX).

Other Market Watch highlights today included:

• Overseas markets were lower coming into today’s session, which likely weighed on the market as well.  
• The dollar was firm against the euro this morning, which could also weigh on other commodity markets and stocks with close ties to physical markets.  
• Crude oil prices tumbled more than $2 a barrel into the U.S. stock market opening, which could pull down energy stocks.
• U.S. markets took a hit on Friday; today is relatively quiet before we get a flood of economic data later this week.  
• The Russian ruble fell to the lowest point in more than five years and the IMF warned that western Europe was behind the curve on implementing stimulus plans.

Small Cap Gainers:

• GE joins with A-Power on wind turbine gearbox equipment; shares of A-Power rise 21%. See (Nasdaq:APWR)
• Aladdin Knowledge Systems agrees to buyout at 20% premium; shares rise 14%. See (Nasdaq:ALDN).  
• Hologic Q1 profit view above estimates, shares up 14.5%. See (Nasdaq:HOLX). 
• Q4 revenues up at Carrols Restaurant Group; shares rise 10%. See (Nasdaq:TAST).  

Small Cap Losers:

• Cleaning and maintenance solutions firm Zep, Inc. down 22% after reporting Q1 results last week. See (NYSE:ZEP).  
• Patriot to shutter Jupiter mine in West Virginia; shares drop over 18%. See (NYSE:PCX).
• Spartech Corporation down 13% on lower-than-average volume. See (NYSE:SEH).  
• Simcere Pharmaceutical Group announces preliminary full-year revenue and earnings; shares trade 10% lower. See (NYSE:SCR).  

Versant Corp. (Nasdaq:VSNT), Indiana Community Bancorp (Nasdaq:INCB) and Young Innovations Inc. (Nasdaq:YDNT) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: DineEquity Inc. (Nasdaq:DIN), Capitol Bancorp Ltd (Nasdaq:CBC), TechTarget Inc. (Nasdaq:TTGT), Max Capital Group Ltd. (Nasdaq:MXGL), Zep Inc. (Nasdaq:ZEP) and Breeze Eastern Corporation (Nasdaq:BZC).

Hawkins Inc. (Nasdaq:HWKN), Hawaiian Holdings Inc. (Nasdaq:HA) and DXP Enterprises Inc. (Nasdaq:DXPE) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

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

Zale Corp. (Nasdaq:ZLC), SeaChange International Inc. (Nasdaq:SEAC) and Herley Industries Inc. (Nasdaq:HRLY) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: FiberNet Telecom Group Inc. (Nasdaq:FTGX), DXP Enterprises Inc. (Nasdaq:DXPE), CryoLife Inc. (Nasdaq:CRY), Zep Inc. (Nasdaq:ZEP), Starrett LS Co. (Nasdaq:SCX) and Almost Family Inc. (Nasdaq:AFAM).

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

IKON Office Solutions Inc. (Nasdaq:IKN), Starrett LS Co. (Nasdaq:SCX) and Thermadyne Holdings Corp. (Nasdaq:THMD) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: NPS Pharmaceuticals Inc. (Nasdaq:NPSP), Arden Group Inc. (Nasdaq:ARDNA), Carbo Ceramics Inc. (Nasdaq:CRR), Finish Line Inc. (Nasdaq:FINL), Zep Inc. (Nasdaq:ZEP) and Sapient Corp. (Nasdaq:SAPE).

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

After an impressive rally on Tuesday, small caps fell under pressure amid gloomy economic outlooks and possible downgrades, and as crude oil prices gushed higher. In Wednesday’s trading, the Russell 2000 (NYSE:IWM) fell 18.97, or 2.78%, at 663.75, while the Dow declined 236.77, or 2.08%, at 11,147.44.

After jumping nearly $2 dollars into the open to roughly $138 per barrel, crude oil futures reversed course and fell $0.40 to $135.64 a barrel. The U.S. dollar also fell against both the euro and the Japanese yen.

Prices were catapulted higher in the morning on news that crude inventory levels slipped more than anticipated. The Energy Information Administration reported this morning that U.S. oil supplies declined by 5.9 million barrels, substantially greater than Platts’ forecasted decrease of 1.9 million barrels. Additionally, Iran test fired missiles to show that they would retaliate if Israel attacks their nuclear production facilities, heightening concerns among oil traders that a conflict could cut off the transportation of crude supplies through the Strait of Hormuz, a highly utilized shipping route for the transportation of crude supplies. 

The International Monetary Fund said today that it remains weary on global economic growth this year and in 2009, as the credit crisis continues to grip global markets and skyrocketing food and fuel prices crimp consumers and businesses. IMF chief Dominique Strauss-Kahn, however, stated that he is more concerned about inflationary pressures.

In a research report this morning, analysts at Goldman Sachs said that a “snap-back rally” was always possible and that on a pure valuation basis, some investors might ask whether economic risk is now adequately priced into the stock market. “We think it remains dangerous to trade against the downside equity market trend based on valuation metrics alone at this point. The market is in the process of adapting expectations to a less optimistic view of the macro environment. And what looks cheap now may not look that cheap in the near future, should fundamentals turn even less friendly going forward. In this regard, the economic environment . . .

Zep, Inc. (NYSE:ZEP) CEO John Morgan said the Atlanta-based maker of cleaning and maintenance products is achieving it goal of achieving a simplified business model, but may go through a painful period over the next couple of quarters. In an effort to streamline, Zep is reducing its product offerings and reducing its headcount. Morgan made the comments during a midday Wednesday conference call with analysts and investors.

“As we eliminate products, we are focused primarily on lower-volume products and in the long term, we expect margins to improve as we reduce our cost structure,” Morgan said. “As we turn our attention to growth in the future, we will be able to take advantage of this more attractive cost structure.”

Although Morgan said Zep’s business is recession resistant, he said the company’s sales volume decreased during the recently ended third quarter due to planned reductions in its sales force. Zep recently introduced stricter performance standards for its sales team and modified its hiring practices.

As the company restructures itself, Morgan said Zep expects inconsistent financial results. The company is targeting investments now that will propel profits in the future, he said.

“While we anticipate that our strategic initiatives will positively impact our business in the future, they have the potential to adversely impact our operating results in the next couple of quarters,” Morgan said.

Zep reported early Wednesday that its adjusted third-quarter income declined to $6 million, or $0.28 per share, down 5% from $6.3 million, or $0.30 per share, a year earlier. The profit results met Wall Street’s expectation.

“Continued increases in raw material costs put downward pressure on earnings as cost inflation slightly outpaced our ability to achieve price increases in a timely fashion,” Morgan. “We did announce another price increase early in our fourth . . .

Shares of Zep, Inc. (NYSE:ZEP) are declining very slightly in heavy volume after the cleaning products maker reported second-quarter net income of $1.9 million, or $0.09 per share, compared with $0.9 million, or $0.04 per share, a year earlier. On an adjusted basis, quarterly earnings fell to $0.11 per share from $0.17 per share during the same period of fiscal 2007.

In Monday afternoon trading, ZEP shares are down 2.92%, or $0.46, at $15.32. For detailed price information and recent news stories about Zep, click ZEP.