This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Thursday's Small-Cap Winners & Losers

Small-cap stocks trailed the major indices Thursday, as the Russell 2000 Index was down 4.7% to 765.36, and the S&P SmallCap 600 Index lost less than 1% to 396.71.

Retailers reporting earnings played a large role in today's losses. Case in point was Charlotte, N.C.-based Cato (CTR). Fiscal third-quarter income was cut in half year over year to $2.9 million, or 9 cents a share, but beat analyst estimates by a penny a share. Same-store sales, or sales from stores open a year or more, were down 5% from 2006, and the gross margin rate decreased to 31% from 32% last year. Shares of the women's wear retailer plummeted 25% to $14.70.

Also smarting was Stein Mart (SMRT - Get Report), shares of which dropped 11% to $5.39 as the Jacksonville, Fla.-based fashion retailer announced a third-quarter loss of $2.7 million, or 6 cents a share, compared to a gain of $237,000, or a penny a share, in 2006. Analysts were projecting a loss of 7 cents a share. Comparable-store sales dropped 6.3% from last year. Stein Mart also guided for a sequential same-store sales decrease of 10% for the fourth quarter.

Both Cato and Stein Mart noted that their most recent quarters were 13 weeks long, one week shorter than the corresponding quarter last year.

Slipping along with the other retailers, Hudson, Ohio's Jo-Ann Stores (JAS) fell 14% to $17.71. Jo-Ann reported fiscal 2008 third-quarter profit of $8 million, or 32 cents a share, vs. $100,000, or zero cents a share, a year ago to beat analyst estimates by 4 cents. Same-store sales increased 2.4%, compared with a decrease of 5.4% in the year-ago quarter. Guidance for fiscal 2008 was conservative, however, pointing to uncertainty in consumer spending and projecting EPS between 55 cents and 65 cents, down from 60 cents to 70 cents.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CTR $11.84 -0.17%
DISH $46.70 5.92%
SMRT $6.79 1.34%
TIVO $9.64 0.52%
AAPL $92.72 -0.56%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs