Russell 2000 looking bullish
The Russell 2000 (NYSE: IWM) and the Dow are posting solid gains with half the trading session left to go. At 12:57 p.m. ET, the small-cap index had advanced 5.94 points, or 0.70%, to 851.13. The Dow Jones Industrial Average (INDU) was up 97.30 points, or 0.69%, to 14,175.99, above its record close on Tuesday.
Futures were pointing up in pre-market trading following news that Wal-Mart Stores Inc. (NYSE: WMT) raised its third-quarter profit outlook, a sign that the American consumer remains alive and well.
The upbeat forecast comes despite a second-quarter same-store sales increase of 1.4%, which was at the low end of the Bentonville, Ark.-based company’s projections.
Stocks opened higher and have not looked down since.
However, retailers posted generally weak same-store results for September due to unusually warm weather that stalled sales of cold-weather merchandise. Same-store sales growth during the month was the slowest in three years.
Bucking the trend was women’s fashion chain Cache Inc. (Nasdaq: CACH), a small-cap retailer, which reported quarterly sales above Wall Street’s expectations.
In economic news, jobless claims for the week ended Oct. 6 fell by a greater-than-expected 12,000 to a level of 308,000, according to the U.S. Labor Department.
Elsewhere, the U.S. Commerce Department reported that import prices rose in September due to more expensive oil and food, but August U.S. exports increased 0.4% to $138.34 billion, while imports fell 0.4% to $195.92 billion. Consequently, the trade deficit contracted 2.4% to $57.59 billion in August, from a revised level of $59 billion in July.
Investors are interpreting the numbers on jobs and trade as a sign of a resilient U.S. economy, as the bulls take control of trading.
Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:
Biggest percentage gainers:
• City Telecom Ltd. (CTEL), up 176% to $14.50. A company representative could not be reached for comment.
• LJ International Inc. (JADE), up 43% to $6.92. A company representative could not be reached for comment.
• AgFeed Industries Inc. (FEED), up 19% to $14.30 on news it has received approval to transfer listing from the Nasdaq Capital Market to the Nasdaq Global Market.
• LJ International Inc. (JADE), up 43% to $6.92. A company representative could not be reached for comment.
• AgFeed Industries Inc. (FEED), up 19% to $14.30 on news it has received approval to transfer listing from the Nasdaq Capital Market to the Nasdaq Global Market.
Biggest percentage losers:
• E-Z-EM, Inc. (EZEM), down 18% to $16.17 due to news of a first-quarter profit decline.
• ZipRealty Inc. (ZIPR), down 10% to $5.91 on news it is cutting its full year revenue expectations.
• Advanced Battery Technologies, Inc. (GBT), down 10% to $7.25.
• ZipRealty Inc. (ZIPR), down 10% to $5.91 on news it is cutting its full year revenue expectations.
• Advanced Battery Technologies, Inc. (GBT), down 10% to $7.25.
The following are companies with market capitalizations under $750 million that are among those that have reported September retail sales as of Thursday:
| Price at | % | ||||||
| 12:38 et | Change | Change | Volume | Year High | Year Low | ||
| PLCE | CHILDRENS PL RETAIL STORES I | 23.28 | -0.12 | -0.51% | 989K | 71.81 | 20.56 |
| CTR | CATO CORP NEW | 19.55 | -1.03 | -5.00% | 207.2k | 25.66 | 17.6 |
| JOSB | JOS A BANK CLOTHIERS INC | 33.1 | 0.26 | 0.79% | 832.6k | 46.1584 | 27.06 |
| CBK | CHRISTOPHER & BANKS CORP | 13.8 | 0.28 | 2.07% | 141.2k | 29.7 | 11.35 |
| FRED | FREDS INC | 10.92 | 0.24 | 2.25% | 265.5k | 15.74 | 9.71 |
| HOTT | HOT TOPIC INC | 8.84 | 0.3 | 3.51% | 746.1k | 14.45 | 7.36 |
| SMRT | STEIN MART INC | 7.43 | -0.26 | -3.38% | 292.5k | 18 | 7.56 |
| WTSLA | WET SEAL INC | 3.16 | 0.13 | 4.29% | 1,329k | 7.6001 | 2.94 |
| CACH | CACHE INC | 17.69 | 0.71 | 4.18% | 260.5k | 26.32 | 12.5 |
| URGI | UNITED RETAIL GROUP INC | 13.65 | -0.02 | -0.15% | 215.3k | 20 | 7.5 |
| HVT | HAVERTY FURNITURE INC | 8.94 | 0.13 | 1.48% | 78.6k | 16.27 | 8.63 |
| DUCK | DUCKWALL-ALCO STORES INC NEW | 35.16 | 0.03 | 0.09% | 3.1k | 42.06 | 33.67 |
| MWRK | MOTHERS WK INC | 16.85 | -1.02 | -5.71% | 170.9k | 57.65 | 14.48 |
| GOT | GOTTSCHALKS INC | 4.8578 | -0.1522 | -3.04% | 13.5k | 15.37 | 4.19 |
| WLSN | WILSONS THE LEATHER EXPERTS | 1.6 | 0 | 0% | 32.8k | 3.08 | 1.01 |
| FCPO | FACTORY CARD OUTLET & PARTY | 16.344 | 0.004 | 0.02% | 3.5k | 16.4 | 6.13 |
| SHRP | SHARPER IMAGE CORP | 3.2 | -0.55 | -14.67% | 218.8k | 14.16 | 3.51 |
| CULS | COST-U-LESS INC | 11.6 | 0.01 | 0.09% | 0.6k | 11.64 | 7.75 |
