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S&P SmallCap 600 in Focus: AOI BLG



By AP
01 July 2008 @ 12:42 pm EST

NEW YORK - Shares of Alliance One International Inc. took the steepest midday loss on the Standard & Poor's SmallCap 600 Index at midday Tuesday after the tobacco grower and processor reported its fiscal 2008 results.

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The S&P 600 Index--tracks stocks with a market capitalization between $300 million and $2 billion--gave up 3.13 points 361.80.

Small-cap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into big-cap stocks.

Alliance One International Inc. fell 45 cents, or 8.8 percent, to $4.66 despite swinging to a full-year profit of $16.9 million. The company's chief executive, Robert E. Harrison, said in a statement he saw global supply and demand tightening in the near term.

Shares of Fleetwood Enterprises Inc. tumbled 22 cents, or 8.4 percent, to $2.40 after touching an all-time low of $2.25 earlier in the session. The stock has been volatile since the RV maker reported a steep drop in fourth-quarter RV sales on Friday.

Shares of regional bank Guaranty Financial Group Inc. lost 41 cents, or 7.6 percent, to $4.96.

Among the gainers, Building Materials Holding Corp. jumped 11 cents, or 6.3 percent, to $1.88.

Thermal and filtration products maker Lydall Inc. gained 75 cents, or 6 percent, to $13.30.

Regional bank UCBH Holdings Inc. rose 12 cents, or 5.3 percent, to $2.37.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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