ICT Group, Novavax and Books-A-Million among 52-week highs
Also included among the results: Bon-Ton Stores Inc. (Nasdaq:BONT), Sinovac Biotech Ltd. (Nasdaq:SVA), FirstCity Financial Corp. (Nasdaq:FCFC), Atlantic Tele-Network Inc. (Nasdaq:ATNI), American Realty Investors Inc. (Nasdaq:ARL) and Nektar Therapeutics (Nasdaq:NKTR).
Nymox Pharmaceutical Corporation, CardioNet and Bon-Ton Stores lead small-cap percentage gainers
Also included among the results: Novavax Inc (Nasdaq:NVAX), Blue Coat Systems Inc (Nasdaq:BCSI), Sequenom Inc (Nasdaq:SQNM), Hovnanian Enterprises Inc (Nasdaq:HOV), First Bancshares Inc (Nasdaq:FBSI) and ICT Group Inc (Nasdaq:ICTG).
Interwoven, ICT Group and NVE lead small-cap volume in pre-market
Also included among the results: Sun Healthcare Group Inc. (Nasdaq:SUNH), Psychiatric Solutions Inc. (Nasdaq:PSYS), Palm Inc. (Nasdaq:PALM), American Physicians Service Group Inc. (Nasdaq:AMPH), Woodward Governor Co. (Nasdaq:WGOV) and Rambus Inc. (Nasdaq:RMBS).
Small caps tumble at closing; ICTG, FGXI and NOVN lead gainers
Stocks took another major tumble Monday after news that small-cap insurer American International Group (NYSE:AIG) clocked the biggest operating loss in its history, adding to investor despair. Some of today’s small-cap gainers were ICT Group (Nasdaq:ICTG), FGX International Holdings (Nasdaq:FGXI) and Noven Pharmaceuticals (Nasdaq:NOVN).
Other Market Watch highlights today included:
• The Russell 2000 (NYSE:IWM) closed down 21.22, or 5.45%, to 367.80, while the Dow closed down 4.24% to 6,763.29 and the S&P 500 closed down 4.66% to 700.82.
• For the year, the Russell 2000 is now down 26.35%, the Dow is down 22.95 and the S&P 500 is down 22.41%.
• On the data front today, personal spending rose about 0.6% in January and incomes rose 0.4%, while construction spending fell 3.3%, or more than twice as much as analysts predicted.
• Oil prices plummeted more than 10% today, suggesting energy demand is still being hurt by the deteriorating global economy.
• The U.S. government said it would give AIG another $30 billion in loans, on top of the $150 billion it has already provided to the insurer.
• Back to AIG, the insurer clocked $61.7 billion Q4 loss.
• Global stock markets sharply slumped overnight, with the benchmarks in Britain and Japan down about 4% each.
Small Cap Gainers:
• Business service outsourcer ICT Group, Inc. closed up 64% after Aegis Limited made an acquisition proposal to ICT’s board. See (Nasdaq:ICTG).
• FGX International Holdings Limited saw a 16% uptick following a strong sales and earning release late last week. See (Nasdaq:FGXI).
• Noven Pharmaceuticals is up 11% ahead of its scheduled earnings . . .
A caveman could do it
Stocks were sharply lower at midday on news this morning that small-cap insurer American International Group Inc. (NYSE:AIG) posted the largest quarterly loss in U.S. corporate history, down $61.7 billion in Q4.
At noon the Russell 2000 (NYSE:IWM) was down 15.25, or nearly 4%, at 373.77, while the S&P 500 was down 3.66% to 708.15, and the Dow was down 3.25% to a staggering 6,833.54 — the first time the index has dipped below 7,000 in 11 years.
Myriad data reports out today showed personal spending rose about 0.6% in January and incomes rose 0.4%, while construction spending fell 3.3%, or more than twice as much as analysts predicted. Even though manufacturing contracted in February for the thirteenth straight month, the pace was slower than expected.
Small caps bucking the downward trend this morning included business service outsourcer ICT Group, Inc. (Nasdaq:ICTG), up nearly 70% after Aegis Limited made an acquisition proposal to ICT’s board. FGX International Holdings Limited (Nasdaq:FGXI) is seeing an 18% uptick following a strong sales and earning release late last week, and Noven Pharmaceuticals is up 10% ahead of its scheduled earnings release on Thursday.
On the downside, Ship Finance International (NYSE:SFL) is down over 23% after reporting a Q4 loss last week.
A Caveman could do it
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ICT Group, FGX International Holdings and Kronos Worldwide lead small-cap percentage gainers
Also included among the results: NPS Pharmaceuticals Inc. (Nasdaq:NPSP), K-Fed Bancorp (Nasdaq:KFED), InterOil Corp. (Nasdaq:IOC), Amicus Therapeutics Inc. (Nasdaq:FOLD), First South Bancorp Inc. (Nasdaq:FSBK) and Community Capital Corp. (Nasdaq:CPBK).
ICT Group, SI Financial Group and Omniture lead small-cap percentage gainers
Also included among the results: AnnTaylor Stores Corp (Nasdaq:ANN), Volt Information Sciences Inc (Nasdaq:VOL), Westwood Holdings Group Inc (Nasdaq:WHG), Signet Jewelers (Nasdaq:SIG), Brooks Automation Inc (Nasdaq:BRKS) and DineEquity Inc (Nasdaq:DIN).
FNB, BPZ Resources and Under Armour lead small-cap percentage losers
Also included among the results: TBS International Ltd. (Nasdaq:TBSI), Palm Inc. (Nasdaq:PALM), ICT Group Inc. (Nasdaq:ICTG), VisionChina Media Inc. (Nasdaq:VISN), Safe Bulkers Inc. (Nasdaq:SB) and Cascade Bancorp (Nasdaq:CACB).
Audiovox, A Power Energy Generation Systems and ICT Group lead small-cap percentage gainers
Also included among the results: Aladdin Knowledge Systems Ltd. (Nasdaq:ALDN), AEP Industries Inc. (Nasdaq:AEPI), InterMune Inc. (Nasdaq:ITMN), Cooper Companies Inc. (Nasdaq:COO), Telefonica de Argentina (Nasdaq:TAR) and Coleman Cable Inc. (Nasdaq:CCIX).
Russell closes on a bad note; IOC, ICTG, SYNA lead gainers
Other Market Watch highlights today included:
• Decliners are leading advancers five to one on the Russell 2000.
• President-elect Obama this morning said his stimulus plan will likely be at the high end of expectations, which helped pull stocks off the lows.
• Intel issued a warning about revenue, which sent chills through the tech sector and kept concerns about the recession on the front burner.
• Before the opening, the ADP National Employment Survey reported that 693,000 private sector jobs were lost in December, a record high for the survey which started in 2001.
Small Cap Gainers:
• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)
• Synaptics Inc. is up 7.3% to $20.38 after news this morning of an upgrade by Lazard Capital. (See Nasdaq:SYNA)
• Avocada company Calavo Growers, Inc. is up 6.6% to $12.51 after reporting record 4Q and FY2008 results before the opening. (See Nasdaq:CVGW)
Small Cap Losers:
• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)
NetScout Systems, Zion Oil and Gas, and Indiana Community Bancorp lead small-cap percentage gainers
Also included among the results: ICT Group Inc. (Nasdaq:ICTG), QC Holdings Inc. (Nasdaq:QCCO), Arbitron Inc. (Nasdaq:ARB), Oriental Financial Group Inc. (Nasdaq:OFG), VIST Financial Corp. (Nasdaq:VIST) and Triangle Capital Corp. (Nasdaq:TCAP).
Russell remains lower into mid-day trading; IOC, ICTG, and AKS lead gainers
Other Market Watch highlights today included:
• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.
•The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.
Small Cap Gainers:
• InterOil said it commenced drilling into the Antelope reservoir, following the confirmation of gas and condensate at the top of the reef announced on Dec. 31. Shares are 15.7% higher at $17.45. (See NYSE:IOC)
• Customer management outsourcing firm ICT Group is up 12.7% at $6.64 after Tuesday's announcement of a "refocusing" of its resources. (See Nasdaq:ICTG)
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)
Small Cap Losers:
• Shoe, accessory and apparel maker Steven Madden Ltd. is down 12.5% to $19.95 after a downgrade by CL King. (See Nasdaq:SHOO)
• The Knot, Inc., a lifestage media company that provides multiplatform media services to the wedding and newlywed markets in the U.S., is down 14% to $7.75. (See Nasdaq:KNOT)
• Payday lending companies EZCorp and First Cash Financial Services are down by double-digit percentages amid expectations the incoming administaration will tighten regulations on the industry. (See Nasdaq:EZPW, Nasdaq:FCFS)
Silicon Motion Technology, LandAmerica Financial Group and Online Resources lead small-cap percentage losers
Also included among the results: LECG Corporation (Nasdaq:XPRT), Ultimate Software Group Inc (Nasdaq:ULTI), Asbury Auto GP Ord Shs (Nasdaq:ABG), ICT Group Inc (Nasdaq:ICTG), Hanmi Financial (Nasdaq:HAFC) and Stewart Information Services Corp (Nasdaq:STC).
Here are the biggest percentage losers among small caps:
Thursday’s pre-market gainers and losers
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $50 million and $750 million:
Biggest percentage gainers:
• Volcom, Inc. (Nasdaq:VLCM), up 17% after the clothing retailer reported unexpectedly strong first-quarter results after Wednesday’s close that beat the consensus on Wall Street and raised its full year guidance.
• O2Micro International Ltd. (Nasdaq:OIIM), up 13% after the supplier of power management and security components posted first-quarter earnings after Wednesday’s close that beat the Street by 200%.
• Converted Organics Inc. (Nasdaq:COIN) up 10%.
Biggest percentage losers:
• PharmaNet Development Group, Inc. (Nasdaq: PDGI), down 30% after reporting ghastly first-quarter results and lowering its full year guidance. The firm swung to a net loss, while Wall Street was expecting a net profit of $0.30 per share.
• Shutterfly, Inc. (Nasdaq:SFLY), down 18%, after lowering second-quarter and full year guidance.
• ICT Group, Inc. (Nasdaq:ICTG), down 16%, after reporting a first-quarter net loss this morning that was a penny wider than analysts forecasted. The firm also issued second-quarter earnings guidance and full year guidance below the consensus on Wall Street.
Another day of records
The Russell 2000 gained 1.73 points, or 0.21 percent, to a second straight record close of 833.80. The Dow Jones Industrial Average also improved on Wednesday’s record, adding 15.61 points, or 0.12 percent, to 13,105.50.
