Willis Lease Finance Corp. (Nasdaq:WLFC), Stewardship Financial Corp. (Nasdaq:SSFN) and BlueLinx Holdings Inc. (Nasdaq:BXC) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Shore Bancshares Inc. (Nasdaq:SHBI), Smith & Wesson Holding Corp. (Nasdaq:SWHC), Flushing Financial Corp. (Nasdaq:FFIC), ArvinMeritor Inc. (Nasdaq:ARM), Tree.com Inc. (Nasdaq:TREE) and Midsouth Bancorp Inc. (Nasdaq:MSL).

Transcept Pharmaceuticals Inc. (Nasdaq:TSPT), ARCA biopharma Inc. (Nasdaq:ABIO) and Willis Lease Finance Corp. (Nasdaq:WLFC) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gander Mountain Co. (Nasdaq:GMTN), RehabCare Group, Inc. (Nasdaq:RHB), Orion Marine Group Inc. (Nasdaq:OMGI), BWAY Holding Co. (Nasdaq:BWY), Tree.com Inc. (Nasdaq:TREE) and Vanda Pharmaceuticals Inc. (Nasdaq:VNDA).

D&E Communications Inc. (Nasdaq:DECC), Transcept Pharmaceuticals Inc.(Nasdaq:TSPT) and Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Tenneco Inc.(Nasdaq:TEN), PetMed Express Inc.(Nasdaq:PETS), Isle of Capri Casinos Inc.(Nasdaq:ISLE), Nicholas Financial Inc.(Nasdaq:NICK), Houston Wire & Cable Co.(Nasdaq:HWCC) and Willis Lease Finance Corp.(Nasdaq:WLFC).

UAL Corp. (Nasdaq:UAUA), Canadian Solar Inc. (Nasdaq:CSIQ) and A Power Energy Generation Systems Ltd. (Nasdaq:APWR) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American Superconductor Corp. (Nasdaq:AMSC), Willis Lease Finance Corp. (Nasdaq:WLFC), Solarfun Power Holdings Co Ltd (Nasdaq:SOLF), Epicor Software Corp. (Nasdaq:EPIC), Bank of the Ozarks Inc. (Nasdaq:OZRK) and Ceradyne Inc. (Nasdaq:CRDN).

Here are the most actively traded companies among small caps:

The Russell staged a dramatic comeback at Friday’s closing, closing up a stunning 4.66%, and shooting nearly 12% off an intraday trough that marked the lowest point since August 2003. Other Market Watch highlights today included:

• In what will be forever remembered as a historic week for the stock market, small caps shed 15.6% in an unprecedented collapse this week.
• From a charting and index perspective, the late recovery move in stocks today was paced by small caps, which was an encouraging sign.
• If small caps start to show a leadership role in the coming days, it could be a sign that a bottom, or at least stabilization is nearby. 
• AMR Corp, Delta and Continental Airlines were among the most actively traded small caps today amid falling oil prices.
• Crude oil prices tumbled 10% today to fresh one-year lows.

Small Cap Gainers:

• Alaska Air Group (NYSE:ALK) closed up about 30% on momentum from the decline in energy prices, late day small-cap recovery moves.
• Ardea Biosciences Inc. (Nasdaq:RDEA) jumped some 39%, recovering from new move lows set Thursday.
• Material Sciences Corp. (NYSE:MSC) up 25.2% on slight increase in Q2 earnings reported Thursday.
• Willis Lease Finance (Nasdaq:WLFC) up 26% after $63M sale of 10 . . .

Dorman Products Inc (Nasdaq:DORM), XL Capital Ltd (Nasdaq:XL) and Prospect Capital Corp (Nasdaq:PSEC) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Willis Lease Finance Corp (Nasdaq:WLFC), Eastern Virginia Bankshares Inc (Nasdaq:EVBS), West Bancorp Inc (Nasdaq:WTBA), Ardea Biosciences Inc (Nasdaq:RDEA), Western Alliance Bancorp (Nasdaq:WAL) and PacWest Bancorp (Nasdaq:PACW).

Here are the biggest percentage gainers among small caps:

Small-cap stocks wasted no time validating Friday’s big breakout move, scorching the bears with back-to-back big gains as the inflation picture brightened and the U.S. dollar remained in rally mode. The Russell 2000 (NYSE:IWM) closed up 16.76, or 2.28% at 751.06, notching consecutive daily gains of more than 2% for the first time all year.

Small caps were noticeably strong relative to other large-cap index products, with the percentage gain in the Russell more than double what was generated in the Nasdaq 100, S&P 500 or Dow. “I think small caps are strong relative to other products amid asset shifts. The drop in commodities and investors warming up to equities is helping the small-cap sector,” Nick Kalivas, vice president, financial research with MF Global, told SmallCapInvestor.com in an email interview.

“The action in the small cap sector is a positive for the entire market. I also think that overseas growth is looking relatively weak and this may be causing investors to feel more comfortable with small caps since large corporations have more international exposure,” Kalivas said...

It’s been a sharp upward assent for the Russell 2000 thus far this session. The small cap index remains at its high intraday, as a sparse docket of economic data pushed investors to focus on oil’s descent.

At 1:04 p.m. ET, the Russell 2000 (NYSE:IWM) had surged 15.90, or 2.17% to 750.20, while the Dow has turned green and is up 68.63, or 0.58% to 11,802.95.

Today’s rally comes on the heels of a robust performance on Friday. It’s good news to see that small caps haven’t plunged back into the red coming off that strong resurgence last week, but rather are adding to that. 

After flickering between the green and the red for a good portion of the session, oil has given back roughly $2 touching a low for the session of $113 and change per barrel. The commodity remains roughly 22% below record levels of nearly $148 a barrel reached in July.

An increasing consensus for slower growth in the second half that would in turn par energy consumption has taken the forefront as the catalyst for oil, driving the commodity lower.

However, traders continue to follow the latest moves surrounding the showdown between Russia and Georgia over the province of South Ossetia. Commodities traders are focusing on whether the fighting will further damage any oil infrastructure in Georgia that would in turn thwart the transportation of oil to central Asia and Europe. Reports already show that Russian bombers struck an oil pipeline in Georgia. It is stunning that oil hasn’t reacted with a violent upswing to the damaged infrastructure, as has been the typical historical behavior recently to a possible supply disruption.

Willis Lease Financial Corpʼs (Nasdaq: WLFC) stock climbed 21% this morning after the company reported before the market opened this morning that its net earnings grew 46% in the second quarter.

For the three months ended June 30, the Novato, Calif.-based lessor of commercial jet engines earned $6.4 million, or $0.69 per share, compared with $4.4 million, or $0.44 per share.

No major analysts follow the company.

Willis Lease said that as airlines feel more pressure due to higher fuel prices, they increasingly turn to leasing.

In morning trading, Willis Lease up $1.89 at $10.74 from Fridayʼs close. Thee stock has traded as low as $8.45 and as high as $16.50 in the past 52 weeks.

For detailed price information and news stories on Willis Lease, click WLFC.

Anaren Inc (Nasdaq:ANEN), Teekay Offshore Partners LP (Nasdaq:TOO) and Willis Lease Finance (Nasdaq:WLFC) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.           

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

Shares of Willis Lease Finance Corp. (Nasdaq:WLFC), are treading higher this morning after the lessor of commercial jet engines said before the opening bell that first-quarter revenues and earnings grew 19%, as demand for leased engines continues to outpace supply. Specifically, the small cap’s lease portfolio increased 22% to $766 million from a year ago.

Shares gained 12.56%, or $1.35, to $12.10 at 10:35 a.m. ET. For detailed price information and recent news stories about Willis Lease Finance, click WLFC. 

Shares of Willis Lease Finance Corp. (Nasdaq:WLFC), which is a lessor of commercial aircraft engines, have declined despite news before the opening of rise in fourth-quarter profit. The Novato, Calif.-based company reported that net income for the three months ended Dec. 31, 2007, was $0.48 per share, compared with a net loss of $0.19 per share a year earlier.

Net income for the 2007 year was $14.5 million, or $1.66 per share, compared with $14.9 million, or $1.56 per share, in 2006.

At 3:17 p.m. ET, the stock was down $0.71, or 5%, to $13.00.

Willis Lease Finance Corp. (Nasdaq: WLFC), a Sausalito, Calif.-based company that leases jet engines and parts to commercial airlines, reported a 48% jump in second-quarter revenue versus a year ago. Willis Lease announced net income of $4.4 million ($0.42 per share) for the period ended June 30, up from $1.6 million ($0.08 per share) during the same period of 2006. The firm’s quarterly revenue was $30.9 million, compared with $20.9 million during the prior year’s second quarter.

At June 30, Willis Lease Finance had 136 commercial jet engines, 3 aircraft parts packages, 4 aircraft and other engine-related equipment. During the quarter, Willis Lease’s portfolio valuation grew 13% to $643.7 million, from $560 million a year earlier. The average quarterly utilization of jet engines was 96% compared to 92% in the year-ago period.

“We are continuing to see robust demand for our leased engines, which drove utilization to a record level in May 2007 and contributed to the addition of new customers in emerging markets,” CEO Charles Willis said in a statement.

He said the company is experiencing strong demand for its products.

At the second quarter’s close, the company had $95 million of availability under its revolving credit and warehouse facilities, compared with $118 million a year earlier.

In today’s trading, shares were flying high - jumping 19.3%, or $2.16, to close at $13.35. Over the last 52 weeks, shares have fluctuated between $7.41 and $14.73.