Finishing Touches on Earnings Season

Earnings Preview 3/2/12

Earnings season is just about over. While there will be 273 firms reporting, only three of them will be members of the S&P 500.

Firms reporting this week include Brown Foreman (BF.B - Analyst Report), H&R Block (HRB - Analyst Report) and Pall Corp. (PLL - Analyst Report).

It will also be a busy week for economic data. Key reports include Durable Goods, Personal Income and Spending, The ISM Manufacturing Index, Auto Sales and the second look at fourth quarter GDP.

Monday

• The ISM non-manufacturing or service index is expected to fall to 56.0 from 56.8 in January. As any reading over 50 indicates expansion, that is still a healthy reading, indicating fairly robust growth, just not quite as robust as last month. However, the ISM manufacturing index delivered a big disappointment for February, so the market is likely to be on guard for a weaker services reading as well.
• Factory Orders are expected to have fallen 1.5% in January after rising 1.5% in December. This would be consistent with the weak Durable goods report last week.

Tuesday

• Nothing of particular significance.

Wednesday

• We get the appetizer for the big jobs report in the form of the ADP Employment report. As the biggest payroll processor for private sector companies, ADP is in a good position to gauge job growth. However, its numbers and those of the BLS do not always line up exactly, although they do tend to converge after all the revisions are in. Last month, ADP said that 170,000 private sector jobs were created, well below the 243,000 reported by the BLS. However, for months before that ADP was noticeably more upbeat than the BLS. For February, the Consensus is that ADP will show 220,000 jobs created.
• We get the second look at Productivity and Unit Labor Costs in the fourth quarter. The consensus is looking for a slight upward revision to productivity, with growth of 0.8% rather than the 0.7% growth in the first look. Unit Labor costs are expected to be revised slightly lower, to 1.1% growth from 1.2%.
• Consumer Credit, not counting real estate related loans like mortgages, is expected to have increased by $12.0 billion, noticeably slower than the $19.3 billion increase in December.

Thursday

• Weekly Initial Claims for Unemployment Insurance were down 2,000 to 351,000 last week, but the prior week was revised up by 2000, so effectively unchanged. The consensus is looking for a slight rebound to 355,000. The drop in weekly claims well below the key 400,000 level was the first clue that the jobs situation was getting significantly better. If claims fall again it would be a powerful sign that the momentum is continuing. The big seasonal adjustments are all in the rearview mirror, so last week’s level is probably about right, but we have recently seen a lot of volatility in the weekly numbers. Thus the four-week average is the thing to focus on (at 354,000 last week). We are actually now well below the average level of claims for the last 35 years. Keep an eye on the prior week’s revision as well as the change from the revised number.
• Continuing Jobless Claims have been in a downtrend of late, but the road down has been bumpy. Last week they fell by 2,000 to 3.402 million. That is down 443,000, or 11.5% from a year ago. The consensus is looking for a slight bounce to 3.405 million. Some (most?) of the longer-term decline is due to people simply exhausting their regular state benefits which run out after 26 weeks. Those, however, don’t last forever either. Federally paid extended claims fell by 17,000 to 3.376 million last week and are down 1.127 million, or 25.0% over the last year. Looking at just the regular continuing claims numbers is a serious mistake. They only include a little over half of the unemployed now, given the unprecedentedly high duration of unemployment figures. A better measure is the total number of people getting unemployment benefits -- currently at 7.499 million. The total number of people getting benefits is now 1.337 million below year-ago levels. What is not known is how many people have left the extended claims via the road to prosperity -- finding a new job -- and how many have left on the road to poverty, having simply exhausted even the extended benefits. Unless the program is renewed, all extended benefits will end at the start of March. Make sure to look at both sets of numbers! Many of the press reports will not, but we will here at Zacks.

Friday

• The big report of the week is the Employment report. Last month was much better than expected at 243,000 total jobs added, with 257,000 coming from the private sector offset by the loss of 14,000 government jobs. For February, the consensus is looking for 220,000 private sector jobs added and the loss of 11,000 government jobs for a total of 209,000. Given the excellent behavior of the initial claims reports, I am expecting even better results, more in line with January. The unemployment rate will depend on if the civilian participation rate rebounds. There is a secular decline in that going on as the baby boomers retire, but we should also see a bit of a cyclical rise. The consensus is looking for the unemployment rate to be unchanged at 8.3%, which along with the job creation totals would suggest a slight rise in the participation rate, although the unemployment rate is derived from the separate household survey. Average hourly earnings are expected to rise by 0.2%, the same rate as last month, and the average work week is expected to be unchanged at 34.5 hours.
• The Trade Deficit is expected to fall slightly to $48.1 billion for January from $48.8 billion in December. We have seen doing a good job of increasing exports of late, but imports have also been rising. Higher oil prices make it more difficult to bring down the Trade Deficit.

Potential Positive or Negative Surprises

The best indicators of firms likely to report positive surprises are a recent history of positive surprises and rising estimates going into the report. The Zacks Rank is also a good indicator of potential surprises. Similarly, a recent history of earnings disappointments, cuts in the average estimate for the quarter in the month before the report is due and a poor Zacks Rank (#4 or #5) are often red flags pointing to a potential disappointing earnings report. Given how few companies are reporting we omit this section this week.

In the Earnings Calendar below, $999.00 should be read as N.A.

Earnings Calendar

Company	Ticker	Qtr End	EPS Est	Year Ago EPS	Last EPS Surprise %	Next EPS Report Date	Time	Daily Price
AMBOW EDUCATION	AMBO	201112	0.22	0.18	10	20120304	AMC	$7.22
ABM INDUSTRIES	ABM	201201	0.22	0.22	2.78	20120305	AMC	$23.00
AGENUS INC	AGEN	201112	-0.28	-0.18	-3.7	20120305	BTO	$3.23
AIR TRANSPT SVC	ATSG	201112	0.2	0.19	22.22	20120305	AMC	$5.62
AIRMEDIA GP-ADR	AMCN	201112	0.06	0.09	80	20120305	AMC	$2.95
AMAG PHARMA INC	AMAG	201112	-1.07	-0.87	21	20120305	AMC	$15.56
ARCOS DORADOS-A	ARCO	201112	0.23	0.17	-100	20120305	BTO	$20.87
ASIA ENTMNT&RES	AERL	201112	0.52	0.36	3.64	20120305	AMC	$6.49
ASSET ACCEPTNCE	AACC	201112	0.09	-0.01	75	20120305	AMC	$4.65
ASTEX PHARMACT	ASTX	201112	-0.01	0.11	20	20120305	AMC	$1.83
BANCOLOMBIA-ADR	CIB	201112	1.15	1.14	-0.88	20120305		$64.82
BLACK DIAMOND	BDE	201112	0.14	0.03	100	20120305	AMC	$8.37
CASEYS GEN STRS	CASY	201201	0.44	0.37	0	20120305	AMC	$52.05
CHARM COMM-ADR	CHRM	201112	0.41	0.33	-3.03	20120305	AMC	$9.44
CROSS COUNTRY	CCRN	201112	0.05	0.02	50	20120305	AMC	$5.80
DAQO NEW ENERGY	DQ	201112	-0.06	0.95	-22.73	20120305	BTO	$2.90
DUCOMMUN INC DE	DCO	201112	0.38	0.39	-36.54	20120305	AMC	$15.30
FIRST MAJESTIC	AG	201112	0.27	0.14	-21.05	20120305	BTO	$20.81
GIANT INTERACTV	GA	201112	0.17	0.17	25	20120305	AMC	$4.35
HFF INC-A	HF	201112	0.31	0.12	31.82	20120305	AMC	$14.55
ISOFTSTONE LTD	ISS	201112	0.11	0.03	11.11	20120305	BTO	$10.07
JIAYUAN.COM INT	DATE	201112	0.03	-0.02	71.43	20120305	AMC	$7.06
MPG OFFICE TRST	MPG	201112	-0.18	0.02	71.43	20120305	AMC	$2.17
NETQIN MOBILE	NQ	201112	0.06	-0.33	50	20120305	AMC	$7.74
NUTRI/SYSTEM	NTRI	201112	-0.03	0.25	-16	20120305	AMC	$11.29
PERFECT WORLD	PWRD	201112	0.54	0.36	-28.57	20120305	AMC	$12.41
QUANEX BLDG PRD	NX	201201	-0.03	-0.04	-29.17	20120305	AMC	$16.79
RRSAT GLBL COMM	RRST	201112	0.1	0.06	-60	20120305	BTO	$4.01
SANTARUS INC	SNTS	201112	0.02	-0.03	0	20120305	AMC	$4.50
STEINWAY MUSIC	LVB	201112	0.37	0.28	-50	20120305	AMC	$24.91
STEREOTAXIS INC	STXS	201112	-0.14	-0.05	7.14	20120305	AMC	$0.76
TRAVELCENTERS	TA	201112	-0.38	-0.81	23.33	20120305	BTO	$5.21
TRINITY BIOTECH	TRIB	201112	0.19	0.17	5.88	20120305	BTO	$10.03
VERENIUM CORP	VRNM	201112	-0.06	-0.36	142.86	20120305	BTO	$3.10
VERIFONE HLDGS	PAY	201201	0.46	0.35	0	20120305	AMC	$47.90
ACADIA PHARMA	ACAD	201112	-0.1	0.74	0	20120306	AMC	$1.65
ACCELRYS INC	ACCL	201112	0.06	0.07	0	20120306	AMC	$7.93
AEGERION PHARMA	AEGR	201112	-0.54	-0.92	-6.67	20120306	BTO	$17.12
AEROVIRONMENT	AVAV	201201	0.41	0.52	50	20120306	AMC	$28.72
AKORN INC	AKRX	201112	0.08	0.04	60	20120306	BTO	$12.93
ALLOS THERAPEUT	ALTH	201112	-0.08	-0.17	26.67	20120306	AMC	$1.46
AMER ASSETS TR	AAT	201112	0.27	999	0	20120306	AMC	$21.26
AMER SAFETY INS	ASI	201112	-0.68	0.97	5.88	20120306	AMC	$19.05
ANALOGIC CORP	ALOG	201201	0.56	0.38	-6.82	20120306	AMC	$56.63
APOLLO RES MTGE	AMTG	201112	0.31	999	N/A	20120306	AMC	$18.00
BANK OF NOVA SC	BNS	201201	1.17	1.1	-1.82	20120306	BTO	$54.58
BLOUNT INTL	BLT	201112	0.33	0.25	-24.14	20120306	BTO	$17.29
BRIDGEPOINT EDU	BPI	201112	0.37	0.45	36.84	20120306	BTO	$24.04
CEDAR SHOPN CTR	CDR	201112	0.11	0.15	9.09	20120306	AMC	$4.75
CHEFS WAREHOUSE	CHEF	201112	0.25	-0.44	-25	20120306	AMC	$20.71
CHESAPEAKE UTIL	CPK	201112	0.75	0.77	-14.29	20120306	AMC	$40.42
CHINA NEW BORUN	BORN	201112	0.43	0.41	0	20120306	AMC	$3.44
CHINA XINIYA FS	XNY	201112	0.23	0.27	-14.29	20120306	BTO	$1.80
CHINACACHE INTL	CCIH	201112	0.04	0.08	-50	20120306	AMC	$7.83
COLONY FINL INC	CLNY	201112	0.39	0.45	N/A	20120306	AMC	$16.68
DICKS SPRTG GDS	DKS	201201	0.88	0.76	23.08	20120306	BTO	$45.34
DUSA PHARM INC	DUSA	201112	0.13	0.12	250	20120306	BTO	$4.83
EMERITUS CORP	ESC	201112	-0.36	-0.37	-63.89	20120306	AMC	$18.20
ENERGY CONV DEV	ENERQ	201112	-0.49	-0.21	-12.2	20120306	BTO	$0.14
EXCEL MARITIME	EXM	201112	-0.25	0.14	-25	20120306	AMC	$1.79
FOCUS MEDIA HLD	FMCN	201112	0.51	0.36	26.32	20120306	AMC	$24.52
FUEL TECH INC	FTEK	201112	0.07	0.04	175	20120306	BTO	$5.89
GLOBAL CASH ACS	GCA	201112	0.13	0.07	-50	20120306	AMC	$5.57
HICKORY TECH	HTCO	201112	0.17	0.16	37.5	20120306	AMC	$10.75
HILL INTL INC	HIL	201112	0	0.1	100	20120306	AMC	$5.30
IRIDIUM COMMUN	IRDM	201112	0.09	0.14	-11.76	20120306	BTO	$7.56
JOHN BEAN TECH	JBT	201112	0.53	0.58	-6.67	20120306	AMC	$17.28
KRONOS WORLDWD	KRO	201112	0.5	0.33	-7.5	20120306	BTO	$23.50
MAKO SURGICAL	MAKO	201112	-0.14	-0.26	-4.35	20120306	AMC	$39.10
MCEWEN MINING	MUX	201112	-0.14	-0.06	5.88	20120306	BTO	$5.46
MEDIDATA SOLUTN	MDSO	201112	0.29	0.56	22.22	20120306	BTO	$19.98
METABOLIX INC	MBLX	201112	-0.3	-0.35	6.67	20120306	AMC	$2.76
METRO HLTH NET	MDF	201112	0.19	0.14	0	20120306	BTO	$8.02
MID-CON ENERGY	MCEP	201112	0.31	999	N/A	20120306	AMC	$24.30
NCI BLDG SYSTEM	NCS	201201	-0.69	-0.99	40.63	20120306	AMC	$12.17
ONCOTHYREON INC	ONTY	201112	-0.18	-0.17	0	20120306	AMC	$8.45
OUTDOOR CHANNEL	OUTD	201112	0.11	0.06	14.29	20120306	AMC	$6.65
PANDORA MEDIA	P	201201	-0.02	999	100	20120306	AMC	$13.59
PARK OHIO HLDNG	PKOH	201112	0.5	0.3	105.88	20120306	BTO	$18.55
PHOENIX NEW MED	FENG	201112	0.05	999	120	20120306	AMC	$7.44
PHYSICIANS FORM	FACE	201112	-0.03	-0.07	33.33	20120306	AMC	$3.03
POST HOLDINGS	POST	201112	0.32	999	N/A	20120306	AMC	$31.49
RIGEL PHARMCTCL	RIGL	201112	-0.28	-0.33	16.67	20120306	BTO	$9.85
SHUFFLE MASTER	SHFL	201201	0.1	0.09	5.88	20120306	AMC	$14.90
STAAR SURGICAL	STAA	201112	0.02	-0.02	-50	20120306	AMC	$11.00
STAGE STORES	SSI	201201	1.07	0.86	-12.5	20120306	BTO	$14.99
SUNOPTA INC	STKL	201112	0.07	0.08	-25	20120306	AMC	$5.05
SYNTROLEUM CORP	SYNM	201112	-0.04	-0.06	0	20120306	BTO	$1.21
TNS INC	TNS	201112	0.56	0.51	-15.09	20120306	AMC	$18.45
UTD NATURAL FDS	UNFI	201201	0.44	0.39	0	20120306	BTO	$46.01
VAIL RESORTS	MTN	201201	1.5	1.48	0	20120306	BTO	$41.64
WARREN RSRCS	WRES	201112	0.07	0.07	175	20120306	BTO	$3.96
ZELTIQ AESTHETC	ZLTQ	201112	-0.09	999	N/A	20120306	BTO	$11.03
ZIPREALTY INC	ZIPR	201112	-0.08	-0.2	87.5	20120306	AMC	$1.32
A123 SYSTEMS	AONE	201112	-0.43	-0.43	-37.84	20120307	AMC	$1.90
ACADIA HEALTHCR	ACHC	201112	0.13	999	N/A	20120307	AMC	$13.89
ALLIANCE HEALTH	AIQ	201112	-0.08	-0.06	66.67	20120307	AMC	$1.30
AMER EAGLE OUTF	AEO	201201	0.34	0.44	0	20120307	BTO	$14.74
BLOCK H & R	HRB	201201	0.06	0.06	-8.57	20120307	AMC	$16.44
BON-TON STORES	BONT	201201	3.14	4.41	-11.25	20120307	BTO	$5.12
BROWN FORMAN B	BF.B	201201	1	0.96	0	20120307	BTO	$81.75
BROWN SHOE CO	BWS	201201	0.2	0.11	-1.96	20120307	BTO	$10.67
CALAVO GROWERS	CVGW	201201	0.25	0.16	19.05	20120307	BTO	$27.42
CANADIAN SOLAR	CSIQ	201112	-0.4	0.58	-143.14	20120307	BTO	$3.67
CAPITAL SR LIVG	CSU	201112	0.06	0.08	20	20120307	AMC	$8.51
CELLCOM ISRAEL	CEL	201112	0.56	1.08	-25	20120307	BTO	$13.23
CHILDRENS PLACE	PLCE	201201	0.89	1.24	4.72	20120307	BTO	$52.57
CHINA KANGH-ADR	KH	201112	0.26	0.17	5.88	20120307	AMC	$18.64
CHINA LODGING	HTHT	201112	0.08	0.09	25	20120307	AMC	$15.11
CHINAEDU CP-ADR	CEDU	201112	0.01	0.07	-12.5	20120307	AMC	$6.30
CIENA CORP	CIEN	201201	-0.17	-0.14	-40	20120307	BTO	$14.87
COCA COLA BOTTL	COKE	201112	0.43	0.46	-37.21	20120307	AMC	$64.50
COLDWATER CREEK	CWTR	201201	-0.21	-0.37	3.13	20120307	AMC	$0.99
COMPASS DIVERSF	CODI	201112	0.38	0.48	-33.33	20120307	AMC	$14.85
COMVERGE INC	COMV	201112	0.05	0.02	50	20120307	BTO	$1.42
CPI AEROSTRUCTR	CVU	201112	0.38	-0.44	31.58	20120307	BTO	$14.82
DELEK US HLDGS	DK	201112	-0.17	-0.14	2.5	20120307	AMC	$13.57
ENTRAVISION COM	EVC	201112	0	0.08	-100	20120307	AMC	$1.63
EXPRESS INC	EXPR	201201	0.68	0.55	5.71	20120307	BTO	$24.22
FLOTEK INDU INC	FTK	201112	0.15	0.09	133.33	20120307	AMC	$11.52
FRESH MARKET	TFM	201201	0.39	0.33	-5	20120307	BTO	$45.09
GENL COMMS INC	GNCMA	201112	0.07	-0.03	-6.25	20120307	AMC	$10.58
GERON CORP	GERN	201112	-0.2	-0.24	11.11	20120307	AMC	$2.00
HOT TOPIC INC	HOTT	201201	0.2	0.12	0	20120307	AMC	$9.12
HOVNANIAN ENTRP	HOV	201201	-0.47	-0.64	-20	20120307	BTO	$2.80
INTEST CORP	INTT	201112	0.1	0.13	37.5	20120307	AMC	$3.40
JAMBA INC	JMBA	201112	-0.14	-0.17	66.67	20120307	AMC	$2.03
KOPIN CORP	KOPN	201112	0.05	0.04	-83.33	20120307	BTO	$3.48
KORN/FERRY INTL	KFY	201201	0.29	0.3	-5.88	20120307	BTO	$16.09
KRATOS DEFENSE	KTOS	201112	0	0.09	-1600	20120307	AMC	$6.23
LIHUA INTL INC	LIWA	201112	0.4	0.45	7.5	20120307	BTO	$6.12
LINCOLN EDUCATL	LINC	201112	0.23	1.32	18.18	20120307	BTO	$8.34
LITTLEFIELD CP	LTFD	201112	-0.01	-0.01	50	20120307		$0.30
MAIDENFORM BRND	MFB	201112	0.01	0.29	-20	20120307	BTO	$21.20
MENS WEARHOUSE	MW	201201	-0.12	-0.19	21.54	20120307	AMC	$39.70
MMODAL INC	MODL	201112	0.29	0.23	13.33	20120307	AMC	$10.21
MYR GROUP INC	MYRG	201112	0.26	0.29	-20	20120307	AMC	$20.56
NAVISTAR INTL	NAV	201201	-0.17	0.16	6.31	20120307	BTO	$41.76
NEW MOUNTN FIN	NMFC	201112	0.3	999	0	20120307	AMC	$13.25
NORDION INC	NDZ	201201	0.13	0.34	47.06	20120307	AMC	$10.25
OPTIMER PHARMAC	OPTR	201112	0	-0.31	-9.62	20120307	AMC	$13.09
PALL CORP	PLL	201201	0.74	0.68	13.85	20120307	AMC	$63.28
POINTS INTL LTD	PCOM	201112	0.14	0.06	22.22	20120307	AMC	$9.30
PRIMERO MINING	PPP	201112	0.06	999	-33.33	20120307	BTO	$2.88
QUAKER CHEMICAL	KWR	201112	0.79	0.69	33.77	20120307	AMC	$40.44
RELM WIRELESS	RWC	201112	0	-0.08	600	20120307	BTO	$1.25
RESOURCE CAPITL	RSO	201112	0.23	0.33	N/A	20120307	AMC	$5.78
RIGNET INC	RNET	201112	0.19	0.09	100	20120307	AMC	$17.00
SCHAWK INC-CL A	SGK	201112	0.26	0.3	-15.38	20120307	AMC	$11.09
SEMTECH CORP	SMTC	201201	0.24	0.42	28.95	20120307	AMC	$28.70
SEQUENOM INC	SQNM	201112	-0.19	-0.19	0	20120307	AMC	$4.36
SIGMA DESIGNS	SIGM	201201	-0.44	0.22	51.43	20120307	AMC	$5.66
SIMCERE PHARMAC	SCR	201112	0.09	0.16	-33.33	20120307	BTO	$8.38
SPEEDWAY MOTORS	TRK	201112	0.02	0.09	13.73	20120307	BTO	$15.26
STANDARD PKG CP	STAN	201112	0.31	0.29	19.35	20120307	AMC	$18.86
TRANSGENOMIC	TBIO	201112	-0.02	-0.02	33.33	20120307	BTO	$1.30
UNITEK GLOBAL	UNTK	201112	0.03	-6.93	87.5	20120307	AMC	$4.00
WALTER INV MGMT	WAC	201112	0.1	0.34	N/A	20120307	BTO	$19.98
WI-LAN INC	WILN	201112	0.14	-0.11	12.5	20120307	BTO	$5.25
3SBIO INC-ADS	SSRX	201112	0.14	0.11	0	20120308	AMC	$11.94
7 DAYS GRP-ADR	SVN	201112	0.09	0.07	-11.76	20120308	AMC	$15.62
AEROPOSTALE INC	ARO	201201	0.37	0.95	11.11	20120308	AMC	$18.39
ALIMERA SCIENCE	ALIM	201112	-0.25	-0.2	4.55	20120308	AMC	$3.80
ALON USA ENERGY	ALJ	201112	-0.11	-0.37	28.57	20120308	AMC	$9.82
AMBEV-PR ADR	ABV	201112	0.55	0.49	27.27	20120308	BTO	$39.94
AMER CARESOURCE	ANCI	201112	-0.04	0	-25	20120308	AMC	$0.50
AMERIGON INC	ARGN	201112	0.07	0.15	-30	20120308	BTO	$15.00
AMN HLTHCR SVCS	AHS	201112	0.04	-0.01	66.67	20120308	AMC	$5.40
ANACOR PHARMACT	ANAC	201112	-0.35	-0.73	58.97	20120308	BTO	$5.85
ANHEUSER-BU ADR	BUD	201112	0.98	0.77	11.22	20120308	BTO	$68.42
APPROACH RESRCS	AREX	201112	0.21	0.13	10.53	20120308	AMC	$35.06
ASSISTED LVG CN	ALC	201112	0.25	0.23	4.35	20120308	BTO	$15.96
BIOLASE TECH	BLTI	201112	-0.01	0.01	-200	20120308	AMC	$2.73
BODY CENTRAL CP	BODY	201112	0.37	0.25	12.5	20120308	AMC	$28.90
BUCKLE INC	BKE	201201	1.14	1.05	0	20120308	BTO	$48.01
CAMBIUM LEARNG	ABCD	201112	-0.03	0.04	-50	20120308	AMC	$2.92
CANTEL MED CORP	CMN	201201	0.31	0.22	9.37	20120308	BTO	$19.37
CDN IMPL BK	CM	201201	1.91	1.97	-2.69	20120308	BTO	$78.07
CDN NTRL RSRCS	CNQ	201112	0.9	0.36	10.17	20120308	BTO	$37.96
CECO ENVIRNMNTL	CECE	201112	0.13	0.05	7.69	20120308		$7.24
CHEMBIO DIAGNOS	CEMI	201112	0.01	0.03	0	20120308	BTO	$0.50
CHINA RE IN-ADR	CRIC	201112	0.04	0.1	-30	20120308	BTO	$5.48
CLOVIS ONCOLOGY	CLVS	201112	-0.79	999	N/A	20120308	BTO	$24.74
COLUMBIA LABS	CBRX	201112	-0.01	0.05	900	20120308	BTO	$0.67
COMTECH TELECOM	CMTL	201201	0.22	0.52	41.38	20120308	AMC	$32.04
COOPER COS	COO	201201	1.03	0.85	20.66	20120308	AMC	$79.57
CORE-MARK HLDG	CORE	201112	0.56	0.53	7.07	20120308	BTO	$40.58
CYTORI THERAPEU	CYTX	201112	-0.15	-0.18	6.25	20120308	AMC	$3.17
DENISON MINES	DNN	201112	-0.03	-0.04	200	20120308	AMC	$1.93
DESCARTES SYS	DSGX	201201	0.13	0.11	-30.77	20120308	BTO	$8.27
DIXIE GRP INC	DXYN	201112	-0.03	0.09	100	20120308	BTO	$4.28
DOUBLE EAGLE PE	DBLE	201112	0	-0.3	0	20120308		$6.71
DYNEGY INC	DYN	201112	-0.35	-0.48	-10.53	20120308	BTO	$1.26
E-HOUSE CHINA	EJ	201112	-0.05	0.21	-300	20120308	BTO	$6.61
EMERGENT BIOSOL	EBS	201112	0.72	0.76	-60	20120308	AMC	$15.31
ENERGY PARTNERS	EPL	201112	0.41	0.08	-20	20120308	BTO	$16.87
ENERGY RECOVERY	ERII	201112	-0.04	-0.04	-62.5	20120308	AMC	$2.19
FLY LEASING LTD	FLY	201112	0.4	0.39	-40.91	20120308	BTO	$12.66
FUEL SYSTEM SOL	FSYS	201112	0.14	0.08	-60	20120308	BTO	$26.42
FULL HOUSE RESO	FLL	201112	0.06	0.11	0	20120308	BTO	$3.15
FUSHI COPPERWLD	FSIN	201112	0.22	0.32	-30.3	20120308	BTO	$7.99
GENMARK DIAGNST	GNMK	201112	-0.27	-0.44	9.38	20120308	AMC	$4.11
GLOBAL PARTNERS	GLP	201112	0.39	0.32	245.45	20120308	BTO	$22.31
GOL LINHAS-ADR	GOL	201112	0.07	0.29	-373.91	20120308	AMC	$8.51
HECKMANN CORP	HEK	201112	0.02	0	300	20120308	AMC	$5.16
HI TECH PHARMA	HITK	201201	0.89	0.79	35.06	20120308	BTO	$42.08
HOME INNS&HOTEL	HMIN	201112	0.22	0.3	18.92	20120308	AMC	$30.68
HUDBAY MINERALS	HBM	201112	0.14	0.16	-122.73	20120308	BTO	$12.09
HUDSON PAC PPTY	HPP	201112	0.25	0.21	-4.17	20120308	AMC	$15.03
INFUSYSTEM HLDG	INFU	201112	0.01	-0.11	-1200	20120308		$2.00
INTERVAL LEISUR	IILG	201112	0.1	0.12	42.86	20120308	AMC	$13.27
JINKOSOLAR HLDG	JKS	201112	-0.56	2.36	-468.18	20120308	BTO	$7.21
JINPAN INTL LTD	JST	201112	0.33	0.35	70	20120308	BTO	$8.55
KIRKLANDS INC	KIRK	201201	0.74	0.66	50	20120308	BTO	$16.45
MAC-GRAY CORP	TUC	201112	0.05	0.01	-28.57	20120308	BTO	$13.69
MAIN STREET CAP	MAIN	201112	0.41	0.34	12.82	20120308	AMC	$23.88
MICROMET INC	MITI	201112	-0.24	-0.11	22.73	20120308	BTO	$11.00
NATURAL GAS SVC	NGS	201112	0.22	0.16	0	20120308	BTO	$13.24
NEUROGESX INC	NGSX	201112	-0.41	-0.69	2.27	20120308	BTO	$0.59
NGP CAP RSRCS	NGPC	201112	0.1	0.15	17.65	20120308		$7.51
OBAGI MEDICAL	OMPI	201112	0.19	0.24	47.06	20120308	AMC	$11.34
OMEGA PROTEIN	OME	201112	0.11	0.44	-48.94	20120308	AMC	$8.35
ONCOGENEX PHARM	OGXI	201112	-0.59	0.31	16.67	20120308	AMC	$16.20
PLUG POWER INC	PLUG	201112	-0.22	-0.9	37.5	20120308	BTO	$2.10
POSTROCK ENERGY	PSTR	201112	0.14	0.35	-428.57	20120308		$3.78
POWERSECURE INT	POWR	201112	0.02	-0.03	183.33	20120308	AMC	$6.08
QUIKSILVER INC	ZQK	201201	-0.1	-0.05	0	20120308	AMC	$4.67
RADNET INC	RDNT	201112	0.03	0.06	-100	20120308	BTO	$2.95
RENREN INC-ADR	RENN	201112	-0.01	0.06	500	20120308	AMC	$5.48
SAFETY INS GRP	SAFT	201112	0.59	0.86	3.57	20120308		$42.70
SAUL CENTERS	BFS	201112	0.55	0.48	-8.33	20120308		$38.00
SMITH & WESSON	SWHC	201201	0.04	-0.08	125	20120308	AMC	$5.31
SMITHFIELD FOOD	SFD	201201	0.66	0.84	10.14	20120308	BTO	$23.45
SOMAXON PHARMAC	SOMX	201112	-0.21	-0.42	-16.13	20120308	AMC	$0.60
STANDARD MOTOR	SMP	201112	0.16	0.11	22.92	20120308	BTO	$24.64
STEWART ENTRP A	STEI	201201	0.12	0.09	-10	20120308		$6.10
SUNTECH PWR HLD	STP	201112	-0.32	0.32	-161.9	20120308	BTO	$3.04
THL CREDIT INC	TCRD	201112	0.3	0.17	7.41	20120308	AMC	$12.71
THOR INDS INC	THO	201201	0.27	0.08	-2.38	20120308	AMC	$32.50
TICC CAPITAL CP	TICC	201112	0.25	0.24	44	20120308	BTO	$9.77
TPC GROUP INC	TPCG	201112	-1.34	0.07	-18.31	20120308	AMC	$35.50
TRANS1 INC	TSON	201112	-0.13	-0.22	31.82	20120308	AMC	$3.23
TRANSACT TECH	TACT	201112	0.07	0.11	-10	20120308	AMC	$6.81
TRIANGLE CAP CP	TCAP	201112	0.49	0.42	15.56	20120308	BTO	$19.51
ULTA SALON COSM	ULTA	201201	0.68	0.49	10.53	20120308	AMC	$85.31
UNION DRILLING	UDRL	201112	0.06	-0.01	400	20120308	BTO	$6.82
US PHYSICAL THR	USPH	201112	0.28	0.28	-2.86	20120308	BTO	$18.80
VISIONCHINA MDA	VISN	201112	0.04	0.05	50	20120308	AMC	$1.79
WALKER & DUNLOP	WD	201112	0.42	0.41	-15.15	20120308	BTO	$11.97
WILLIAMS-SONOMA	WSM	201201	1.13	1.08	7.89	20120308	BTO	$38.97
WIRELESS RONIN	RNIN	201112	-0.07	-0.09	0	20120308		$0.86
WORLD ENERGY SL	XWES	201112	-0.01	0.04	N/A	20120308	BTO	$4.85
WUXI PHARMATECH	WX	201112	0.25	0.24	12	20120308	AMC	$12.96
ZOGENIX INC	ZGNX	201112	-0.34	-0.17	-10.91	20120308	AMC	$2.48
ZUMIEZ INC	ZUMZ	201201	0.59	0.49	9.76	20120308	AMC	$32.81
AFC ENTERPRISES	AFCE	201112	0.24	0.18	-4.35	20120309		$15.96
ANN INC	ANN	201201	0.08	0.19	7.02	20120309	BTO	$24.56
ARENA PHARMA	ARNA	201112	-0.15	-0.23	-14.29	20120309	BTO	$1.80
BIOSCRIP INC	BIOS	201112	0.09	0.11	11.11	20120309	BTO	$6.35
BPZ RESOURCES	BPZ	201112	-0.06	-0.09	133.33	20120309	BTO	$3.23
CHINDEX INTL	CHDX	201112	0.05	0.14	-81.82	20120309	AMC	$9.44
CITI TRENDS INC	CTRN	201201	-0.2	0.64	-2.7	20120309	BTO	$11.25
FED SIGNAL CP	FSS	201112	0.05	0.02	-62.5	20120309	BTO	$4.65
FERRELLGAS -LP	FGP	201201	0.78	0.82	-44.83	20120309	BTO	$18.19
HALOZYME THERA	HALO	201112	-0.15	-0.17	266.67	20120309	BTO	$11.39
HIBBET SPORTS	HIBB	201201	0.57	0.44	15.69	20120309	BTO	$50.96
KMG CHEMICALS	KMGB	201201	0.21	0.21	3.33	20120309	BTO	$17.44
LMI AEROSPACE	LMIA	201112	0.43	0.26	-18.6	20120309	BTO	$20.95
NOVAVAX INC	NVAX	201112	-0.04	-0.06	40	20120309	BTO	$1.28
OCEAN POWER TEC	OPTT	201201	-0.34	-0.33	-18.75	20120309	BTO	$3.35
PEREGRINE PHARM	PPHM	201201	-0.13	-0.14	-23.08	20120309	AMC	$0.95
STAG INDUSTRIAL	STAG	201112	0.25	999	0	20120309	AMC	$12.42
US CONCRETE INC	USCR	201112	-0.34	-0.53	-25	20120309	BTO	$4.17
POST HOLDINGS	POST	201112	0.32	999	N/A	20120306	AMC	$31.49
RIGEL PHARMCTCL	RIGL	201112	-0.28	-0.33	16.67	20120306	BTO	$9.85
SHUFFLE MASTER	SHFL	201201	0.1	0.09	5.88	20120306	AMC	$14.90
STAAR SURGICAL	STAA	201112	0.02	-0.02	-50	20120306	AMC	$11.00
STAGE STORES	SSI	201201	1.07	0.86	-12.5	20120306	BTO	$14.99
SUNOPTA INC	STKL	201112	0.07	0.08	-25	20120306	AMC	$5.05
SYNTROLEUM CORP	SYNM	201112	-0.04	-0.06	0	20120306	BTO	$1.21
TNS INC	TNS	201112	0.56	0.51	-15.09	20120306	AMC	$18.45
UTD NATURAL FDS	UNFI	201201	0.44	0.39	0	20120306	BTO	$46.01
VAIL RESORTS	MTN	201201	1.5	1.48	0	20120306	BTO	$41.64
WARREN RSRCS	WRES	201112	0.07	0.07	175	20120306	BTO	$3.96
ZELTIQ AESTHETC	ZLTQ	201112	-0.09	999	N/A	20120306	BTO	$11.03
ZIPREALTY INC	ZIPR	201112	-0.08	-0.2	87.5	20120306	AMC	$1.32
A123 SYSTEMS	AONE	201112	-0.43	-0.43	-37.84	20120307	AMC	$1.90
ACADIA HEALTHCR	ACHC	201112	0.13	999	N/A	20120307	AMC	$13.89
ALLIANCE HEALTH	AIQ	201112	-0.08	-0.06	66.67	20120307	AMC	$1.30
AMER EAGLE OUTF	AEO	201201	0.34	0.44	0	20120307	BTO	$14.74
BLOCK H & R	HRB	201201	0.06	0.06	-8.57	20120307	AMC	$16.44
BON-TON STORES	BONT	201201	3.14	4.41	-11.25	20120307	BTO	$5.12
BROWN FORMAN B	BF.B	201201	1	0.96	0	20120307	BTO	$81.75
BROWN SHOE CO	BWS	201201	0.2	0.11	-1.96	20120307	BTO	$10.67
CALAVO GROWERS	CVGW	201201	0.25	0.16	19.05	20120307	BTO	$27.42