Peets Coffee & Tea Inc. (Nasdaq:PEET), NetList Inc. (Nasdaq:NLST) and Noah Educational Holdings LTD. (Nasdaq:NED) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CDeer Consumer Products (Nasdaq:DEER), Chinal Holdings Acquisitions Corp. (Nasdaq:HOL), Central Garden & Pet Co. (Nasdaq:CENT), China Green Agriculture Inc. (Nasdaq:CGA), Breeze Eastern Corp. (Nasdaq:BZC) and BioCryst Pharmaceuticals (Nasdaq:BCRX).

Pacific Sunwear of California Inc. (Nasdaq:PSUN), Perry Ellis International Inc. (Nasdaq:PERY) and First M&F Corp. (Nasdaq:FMFC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.           

Also included among the results: Marine Petroleum Trust (Nasdaq:MARPS), Noah Education Holdings Ltd. (Nasdaq:NED), Pyramid Oil Co. (Nasdaq:PDO), Temecula Valley Bancorp Inc. (Nasdaq:TMCV), Volcom Inc. (Nasdaq:VLCM) and Citizens & Northern Corp (Nasdaq:CZNC).           

Here are the biggest percentage losers among small caps:   

Shares of Noah Education Holdings Ltd. (NYSE:NED) are treading higher today after the Chinese provider of interactive education content reported robust third-quarter earnings Thursday evening that trumped the consensus on Wall Street.

The company said it continued to gain market share during the quarter as it continued to build its brand and gain traction in the market through a wide range of products, services and content. Noah said it is now active in more than 600 schools and reaches over 1.4 million students.

Shares popped 17%, or $1.18, to $8.04 at 2:23 p.m. ET. For detailed price information and recent news stories about Noah Education, click NED.  

China Precision Steel Inc (Nasdaq:CPSL), Gentium SpA (Nasdaq:GENT) and China Finance Online Co Ltd (Nasdaq:JRJC) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $750 million.

Meta Financial Group Inc (Nasdaq:CASH), Noah Education Holdings Ltd (Nasdaq:NED) and Sutor Technology Group Ltd (Nasdaq:SUTR) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

The Russell 2000 (NYSE: IWM) has rebounded from its earlier losses despite news of poor economic reports.

At 12:28 p.m. ET, the small-cap index was up 3.92 points, or 0.56%, to 706.26. The Dow Jones Industrial Average (INDU) was up 20.59 points, or 0.17%, to 12,357.81.

Stocks small and large opened with a drop as investors focused on news of surprisingly strong inflation and largely disregarded expected news that the U.S. housing sector remains troubled.

The Russell 2000 fell to a level below 696 points shortly after 10 a.m. ET, and stayed in the red until a sharp jump at about 12:10 p.m. ET propelled it into positive territory.

Wall Street’s bearish mood in the morning was due to news that the consumer price index added 0.4% in January, above the expected 0.3%.

The U.S. Labor Department also reported that core consumer prices, which exclude the costs of food and energy, increased 0.3%, above the projected 0.2%.

Core prices have added 2.5% on a year-over-year basis, which is beyond the U.S. Federal Reserve’s preferred range of between 1% and 2%. Worse, annual consumer prices growth has accelerated from 2.4% in December 2007.

Chinese culture has long placed a high value on education, traditionally attaching great importance to and a healthy respect for learning. But the Cultural Revolution, a decade of social and political upheaval that ended after the death of Mao Zedong in 1976, stifled Chinese academic progress. Since then, China has come a long way. Literacy has risen to 85% from 60% (the literacy rate for 12- to 40-year-olds now stands at 96%).

In a society where excelling in school is, for the most part, the only stepping stone to success, education takes on great significance. Also, as the country's red-hot economy fuels the growth of both domestic and international businesses, the demand for higher levels of education and skills continues to increase.

The Chinese government is nudging institutions of higher education to turn out a well-trained workforce with practical skills and language abilities that will enable China to develop service-based industries and compete with tech-savvy global companies.

One outfit poised to capitalize on China's fast growing education market is ChinaCast Education Corporation (Nasdaq: CAST), an e-learning and private-education specialist that provides Internet-based and conventional training services to universities, trade schools, corporations and government agencies. ChinaCast specializes in interactive distance learning, multimedia education content, online educational portals, language training and information technology management and certification courses.

Following in the footsteps of Beijing-based educational services juggernaut New Oriental Education & Technology Group Inc. (NYSE: EDU), which provides traditional and online learning programs, ChinaCast hopes to mimic the success of U.S. companies like such as DeVry Inc. (NYSE: DV), ITT Educational Services, Inc. (Nasdaq: ESI), Appolo Group, Inc. (Nasdaq: APOL) and Corinthian Colleges, Inc.(Nasdaq: COCO). The company is off to a good start, with three solid quarters, a couple of smart acquisitions and a recent Nasdaq listing to its credit.

The Russell 2000 (NYSE: IWM) swung up and down today but eventually failed to join the other major U.S. indices in the green. The small-cap index lost 1 point, or 0.13%, to 749.33, its fifth consecutive decline. The Dow Jones Industrial Average (INDU) added 51.70 points, or 0.40%, to 13,010.14.

On a year-to-date basis, the Russell 2000 has shed 4.84%, while the Dow has advanced 4.29% and the S&P 500 has gained 1.63%.

A volatile day of trading began on a bullish note following news before the opening that U.S. housing starts unexpectedly increased 3% in October, according to the U.S. Census Bureau. Economists were forecasting a small drop after September’s steep 11.4% decline.

Privately-owned housing starts were at a seasonally adjusted annual rate of 1.229 million in October, compared with September’s slightly upwardly revised level of 1.193 million.

Stocks opened in positive territory, with investors apparently disregarding the part of the government’s report that showed a decrease in buildings permits.

Buildings permits, a sign of future construction, fell 6.6% to an annual rate of 1.178 million.  That’s the lowest level since 1993 and a sign that the housing sector will most likely continue to stagnate. Building permits in September were 1.261 million at an annual pace.

The bulls remained dominant until shortly after 12 p.m. ET, when the rally abruptly ran out of steam and went into reverse. The small-cap index was the first to take a hit, followed shortly later by the other major U.S. indices.

It’s difficult to say with certainty what the catalyst was, but financial stocks declined as investors once again turned their attention to the credit problems stemming from the meltdown in the subprime mortgage sector.

The Russell 2000 (NYSE: IWM) has fallen far below the flat line as the morning rally on Wall Street goes into reverse. At 2:16 p.m. ET, the small-cap index had fallen 7.04 points, or 0.94%, to 743.29. The Dow Jones Industrial Average (INDU) was down 56.49 points, or 0.44%, to 12,901.95.

At about 12 p.m. ET, small-cap stocks abruptly lost steam and nosedived into negative territory, where they have since been joined by the other major U.S. indices.

The apparent reason for the sharp drop is a decline in financial stocks as investors once again turned their attention to the credit problems stemming from the meltdown in the subprime mortgage sector.

Before the start of trading today, Freddie Mac (NYSE: FRE), a government-chartered company that buys U.S. mortgages, reported a record quarterly loss and warned that it may have to cut its dividend.

A number of financial institutions have taken a hit in recent months as declining house prices and a wave of foreclosures and delinquencies made securities backed by subprime mortgages essentially worthless.

Morning trading was dominated by the bulls following news of a report from the U.S. Census Bureau that housing starts surprisingly increased 3% in October, after a fall of 11.4% in September.

Elsewhere, the price of oil has added $3.39 to $98.03 a barrel.

The Russell 2000 (NYSE: IWM) is posting gains following news of a surprise rise in October U.S. home construction.

At 10:32 a.m. ET, the small-cap index had added 2.92 points, or 0.39%, to 753.25. The Dow Jones Industrial Average (INDU) was up 86.66 points, or 0.67%, to 13,045.10.

Housing starts surprisingly increased 3% in October, the U.S. Census Bureau reported before the start of trading. That came as a surprise to economists, who were forecasting a small drop. Housing starts fell 11.4% in September.

Builders broke ground on 1.229 million homes at an annual rate, above the 1.193 million annual pace reported in September.

However, it’s doubtful that the news signifies an improvement in the U.S. housing sector.

Buildings permits, a sign of future construction, fell 6.6% to an annual rate of 1.178 million, the lowest level in more than a decade.

Nevertheless, investors were feeling mildly bullish, particularly after Monday’s sell-off exposed bargain buying opportunities.