Busy Earnings Week Ahead - Earnings Preview

Earnings Preview 1/28/11

Next week the fourth quarter earnings season is in full swing. A total of 561 firms are due to report, including 106 S&P 500 firms. So far the earnings season seems to be going well. The firms reporting this week include several icons of U.S. business, including: Aflac (AFL), Dow Chemical (DOW), Emerson (EMR), Merck (MRK), Pfizer (PFE), Paccar (PCAR), United Parcel Service (UPS), Visa (V) and Exxon (XOM).

It will also be a heavy week for economic data, including data on both ISM surveys (Manufacturing and Service), Personal Income and Spending, Productivity and finally the all important employment report. All in all, it looks like a very busy week, with lots of news that has the potential to move the markets.

Monday

• Personal Income probably increased by 0.3% in December, matching a 0.3% increase in November. Personal spending probably rose at the same 0.4% pace it rose in November. Of course, if spending is rising faster than income, it implies a fall in the savings rate. Over the short term that is a good thing, but in the longer term that is very bad news. In addition to the amount that Personal income goes up, the data breaks out the sources of that income growth. Over the last few years far too much of that income growth has come from higher transfer payments from the government, and not from higher wages and salaries. Dividend income will probably rise nicely, but be offset by a fall in interest income due to the ultra low interest rate environment we are in.

Tuesday

• The ISM manufacturing index is expected to slip slightly from its 57.0 level last month. As a “magic 50 index,” that reading would mean that the manufacturing side of the economy is continuing to grow, but it is doing so at a slower pace than it was in December. In addition to the overall index, pay close attention to how some of the key sub-indexes which cover production, new orders and employment are faring.
• Construction Spending grew by 0.4% in December. It was probably slightly positive in January as well.
• Auto and light truck sales probably continued to accelerate from the 12.5 million seasonally adjusted annual rate they posted in December, that is well off the under-10 million pace at the depths of the Great Recession, but a far cry from the 16 to 17 million annual rates that were the norm before the recession. It will be a very long time before we hit those levels again, but we will continue to see vehicle sales slowly recover.

Wednesday

• We get the appetizer for the employment report in the form of the ADP employment survey. Last month, the ADP raised hopes greatly when they reported a net increase of 297,000 private sector jobs. That set up a big disappointment when the BLS reported a gain of just 113,000 private sector jobs. As the firm that actually cuts the checks of most companies payrolls, ADP is in an excellent position to gauge the strength of the job market. However, its numbers are often quite different than the private sector jobs numbers that are reported by the BLS on Friday. The BLS numbers do tend to be revised in the direction of the ADP numbers, so the big differential last month might be pointing to an upward revision to the November numbers when the BLS reports.

Thursday

• Weekly initial claims for unemployment insurance come out. They have been extremely erratic of late. Last week they rose by 51,000 in the last week, to 454,000. I would expect them to decline, perhaps quite sharply, this week. After a huge downtrend from mid-April through the end of 2009, initial claims have been locked in a tight “trading range." They are knocking on the low end of that trading range, and breaking out to the downside would be very good news. We probably need for weekly claims (and the four-week moving average of them) to get down to closer to 400,000 to signal that the economy is adding enough jobs to make a dent in the unemployment rate. A rate of over 500,000 signals that the unemployment rate is probably headed back up and a high probability of a double dip.
• Continuing claims have also in a downtrend of late, but the road down has been bumpy. Last week they rose by 94,000 to 3.991 million. That is down 847,000 from a year ago. Some of the longer-term decline due to people simply exhausting their regular state benefits which run out after 26 weeks. Federally paid extended claims fell by 98,000 to 4.819 million, and are down by 991,000 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 9.411 million, which is down 224,000 from last week. The total number of people getting benefits is now 2.124 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. Make sure to look at both sets of numbers! Many of the press reports will not, but we will here at Zacks.
• The ISM Services Index is expected to have slipped a bit from the extremely strong 63.5 reading in January. This is also a “magic 50” index, so we could see a very big decline and still indicate that the service side of the economy is still growing. I would be surprised at a major decline, and think we will still stay north of the 60 level, indicating still strong growth. As with the ISM manufacturing index, the behavior of the key sub-indexes of business activity, new orders and employment are at least as interesting as the overall level of the index.
• We get the first read on Productivity growth in the Fourth quarter. In the third quarter, it was running at 2.3%. Over the long run, productivity is probably the single most important economic statistic there is. It is productivity, after all, that determines per capita GDP, and that is the GDP growth that really counts. Growing simply because there are more people in the country does not improve living standards. However, in the short term, rapid increases in output per hour are not particularly helpful in raising the number of hours worked (i.e. reducing unemployment). Given the relatively strong growth of 3.2% in GDP in the third quarter, and the still anemic growth in employment during the third quarter, I would expect to see an acceleration in productivity probably to around 2.6%.
• Unit Labor Costs fell by 0.1% in the third quarter as the growth in productivity was greater than the increase in compensation for labor. That was probably the case again in the fourth quarter. Falling unit labor costs are one of the big reasons for the high net margin fueled earnings growth that we have been seeing in the recent earnings reports. Essentially all of the gains from productivity growth are accruing to the owners of capital rather than the providers of labor. Capital getting the lion's share of that growth has been the pattern for several years now, but historically the two factors of production tended to share equally in the fruits of productivity growth. In the short term, that is certainly good for corporate profits and hence the stock market. However, the resulting large disparities in income inequality are seen by many (including myself) as one of the underlying causes of the financial meltdown and the resulting Great Recession.

Friday

• The most important report of the week is the employment report. In December, payrolls seriously disappointed by rising by only 103,000 and 113,000 on the private side. Growth should pick up in January, but total payrolls will likely again be lower than private sector payrolls, as State and Local governments continue to lay people off to deal with their dismal fiscal situations. Consensus estimates are not available, but I would expect total growth of about 175,000 in total and 185,000 on the private side. Revisions to prior month's numbers will also be important, and in recent months they have been upward. The unemployment rate might bump up a bit from the 9.4% rate in December. Much of the change in the unemployment rate will depend on the civilian participation rate, which fell to 63.4% in December from 64.5% in November. If it continues to decline, the unemployment rate might stay where it is, or even fall further. If the participation rate stops falling, the unemployment rate will likely shoot upwards. That would not really be all bad. The key measure will be the percentage of people who are actually working. That ticked up to 58.3% in December, but is still extremely low. The report will probably show that average hourly earnings increased 0.1% in January, the same pace of growth as in December. The average workweek was probably unchanged at 34.3 hours, the same place it has been for the last three months. Overall, that adds up to middling report. Keep an eye on the duration of unemployment numbers which remain at historically very high levels.

Potential Positive or Negative Surprises

Historically 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.

Potential Positive Surprises:

Ameriprise Financial (AMP) is expected to report $1.29 vs. $0.91 last year. Last time out it reported a 28.04% positive surprise, and over the last month the mean estimate for the about-to-be-reported quarter has increased by 5.88%. AMP is a Zacks #1 Ranked stock.

Novellus (NVLS) is expected to report $0.94 vs. $0.39 last year. Last time out it reported a 4.76% positive surprise, and over the last month the mean estimate for the about-to-be-reported quarter has increased by 0.41%. NVLS is a Zacks #1 Ranked stock.

Aetna (AET) is expected to report $0.60 vs. $0.40 last year. Last time out it reported a 25.37% positive surprise, and over the last month the mean estimate for the about-to-be-reported quarter has increased by 1.11%. AET is a Zacks #2 Ranked stock.

Potential Negative Surprises:

Vulcan Materials (VMC) is expected to report a loss of $0.19 vs. a loss of $0.10 last year. Last time out it reported a 57.89% disappointment, and over the last month the mean estimate for the about to reported quarter has dropped by 1.83%. VMC is a Zacks #5 Ranked stock.

Cincinnati Financial (CINF) is expected to report $0.36 vs. $0.53 last year. Last time out it reported an 8.11% disappointment and over the last month the mean estimate for the about-to-be-reported quarter has been cut by 3.23%.  CINF is a Zacks #4 Ranked stock.

Clorox (CLX) is expected to report EPS of $0.62 vs. $0.77 last year. Last time out it reported a 4.42% negative surprise, and over the last month the mean estimate for the about-to-be-reported quarter has fallen by 14.29%. CLX is a Zacks #4 Ranked stock.

Earnings Calendar

Company	Ticker	Qtr End	EPS Est	Year Ago EPS	Last EPS Surprise %	Next EPS Report Date	Time	Daily Price
ALBERTO-CULVER	ACV	201012	$0.54	$0.46	15	20110131	BTO	$37.23
ALLEGIANT TRAVL	ALGT	201012	$0.69	$0.52	3.08	20110131	AMC	$49.86
ANADARKO PETROL	APC	201012	$0.21	$0.04	-30	20110131	AMC	$75.36
ARM HOLDNGS ADR	ARMH	201012	$0.07	$0.07	-28.57	20110131	BTO	$25.78
ARRAY BIOPHARMA	ARRY	201012	($0.28)	($0.44)	28.57	20110131	AMC	$2.97
BAIDU INC	BIDU	201012	$0.46	$0.18	7.14	20110131	AMC	$109.05
BANCO BRADESCO	BBD	201012	$0.41	$0.31	2.63	20110131		$19.44
BARD C R INC	BCR	201012	$1.48	$1.39	2.14	20110131	AMC	$93.97
CAPITAL PRODUCT	CPLP	201012	$0.10	$0.21	-15.79	20110131	BTO	$9.81
CAVIUM NETWORKS	CAVM	201012	$0.16	$0.01	8.33	20110131	AMC	$41.14
CERAGON NETWRKS	CRNT	201012	$0.13	$0.06	44.44	20110131	BTO	$13.07
CEVA INC	CEVA	201012	$0.15	$0.08	8.33	20110131	BTO	$24.20
CHANGYOU.COM	CYOU	201012	$0.86	$0.73	4.94	20110131	BTO	$31.91
CHECK PT SOFTW	CHKP	201012	$0.65	$0.57	7.27	20110131	BTO	$46.74
DSP GROUP INC	DSPG	201012	($0.27)	$0.01	100	20110131	BTO	$7.83
EASTMAN CHEM CO	EMN	201012	$1.49	$1.14	4.95	20110131	AMC	$92.87
EXTREME NETWRKS	EXTR	201012	$0.05	$0.03	-25	20110131	AMC	$3.43
EXXON MOBIL CRP	XOM	201012	$1.60	$1.27	3.6	20110131	BTO	$79.88
FABRINET	FN	201012	$0.45	$0.35	10	20110131	AMC	$22.21
GANNETT INC	GCI	201012	$0.81	$0.72	6.12	20110131	BTO	$15.03
GLADSTONE INVES	GAIN	201012	$0.11	$0.14	10	20110131	AMC	$7.23
GRACO INC	GGG	201012	$0.41	$0.28	28.21	20110131	AMC	$42.22
HAEMONETICS CP	HAE	201012	$0.82	$0.71	5.26	20110131	BTO	$59.03
HOLOGIC INC	HOLX	201012	$0.28	$0.29	0	20110131	AMC	$20.17
HOPFED BANCORP	HFBC	201012	$0.16	$0.54	0	20110131		$9.55
ICU MEDICAL INC	ICUI	201012	$0.54	$0.50	38.3	20110131	AMC	$39.99
ILL TOOL WORKS	ITW	201012	$0.80	$0.62	1.22	20110131	BTO	$55.29
INGLES MARKET A	IMKTA	201012	N/A	$0.25	-8.11	20110131		$19.66
INTEGR DEVICE	IDTI	201012	$0.11	$0.08	0	20110131	AMC	$6.59
INTL RECTIFIER	IRF	201012	$0.49	($0.04)	16.67	20110131	AMC	$31.44
KAYNE ANDSN EGY	KED	201011	$0.37	$0.86	-54.29	20110131	AMC	$17.73
MAHANAGAR ADR	MTE	201012	N/A	($0.60)	N/A	20110131		$2.25
MANITOWOC INC	MTW	201012	$0.04	($0.07)	-91.67	20110131	AMC	$13.86
MCKESSON CORP	MCK	201012	$1.11	$1.19	-5.5	20110131	AMC	$75.19
METROCORP BANCS	MCBI	201012	$0.04	($0.36)	100	20110131	AMC	$3.95
MIZUHO FINL-ADR	MFG	201012	N/A	$0.19	N/A	20110131		$4.00
MOOG INC A	MOG.A	201012	$0.63	$0.47	2.9	20110131	BTO	$43.61
NAVARRE CORP	NAVR	201012	$0.08	$0.06	0	20110131	AMC	$2.10
NORTH AMER EGY	NOA	201012	$0.28	$0.53	-78.95	20110131	AMC	$12.22
NOVELLUS SYS	NVLS	201012	$0.94	$0.39	4.76	20110131	AMC	$37.00
NUSTAR ENERGY	NS	201012	$0.68	$0.50	18.42	20110131	BTO	$69.86
NUSTAR GP HLDGS	NSH	201012	$0.34	$0.40	10.53	20110131		$36.23
OLD NATL BCP	ONB	201012	$0.11	($0.11)	18.18	20110131	BTO	$11.50
OLIN CORP	OLN	201012	$0.05	($0.03)	11.11	20110131	AMC	$19.77
PAREXEL INTL CP	PRXL	201012	$0.28	$0.26	7.14	20110131	AMC	$23.05
PLUM CREEK TMBR	PCL	201012	$0.44	$0.19	-16.67	20110131	AMC	$42.31
PREFERRED BANK	PFBC	201012	($0.05)	($1.80)	-133.33	20110131	AMC	$1.93
QIAGEN NV	QGEN	201012	$0.25	$0.24	4.35	20110131	AMC	$18.72
REINSURANCE GRP	RGA	201012	$1.82	$1.70	3.61	20110131	AMC	$58.97
RENT-A-CENTER	RCII	201012	$0.68	$0.66	12.73	20110131	AMC	$30.89
ROPER INDS INC	ROP	201012	$0.99	$0.81	10.13	20110131	BTO	$76.66
RUDOLPH TECH	RTEC	201012	$0.31	($0.06)	15.38	20110131	AMC	$10.15
RYANAIR HLDGS	RYAAY	201012	($0.03)	($0.05)	-10.39	20110131		$30.44
S&T BANCORP INC	STBA	201012	$0.35	$0.28	21.88	20110131	DMT	$22.42
SAIA INC	SAIA	201012	$0.07	($0.31)	0	20110131	BTO	$15.40
SILICON MOTION	SIMO	201012	$0.03	($0.56)	0	20110131	AMC	$5.15
SOHU.COM INC	SOHU	201012	$0.99	$0.76	18.89	20110131	BTO	$73.15
SOUTHN COMMNTY	SCMF	201012	($0.17)	($0.68)	-628.57	20110131	BTO	$1.78
TATA COMMUNICAT	TCL	201012	N/A	$0.42	N/A	20110131		$10.69
TATA MOTORS-ADR	TTM	201012	N/A	$0.23	N/A	20110131		$26.30
TELMEX ADR-CL L	TMX	201012	$0.35	$0.41	N/A	20110131		$17.23
THOMAS & BETTS	TNB	201012	$0.63	$0.70	6.58	20110131	BTO	$48.91
TRIUMPH GRP INC	TGI	201012	$1.74	$1.11	14.86	20110131	AMC	$96.19
UNITRIN INC	UTR	201012	$0.80	$0.96	39.66	20110131	AMC	$27.55
WADDELL&REED -A	WDR	201012	$0.49	$0.39	9.3	20110131	BTO	$37.00
ACME PACKET INC	APKT	201012	$0.19	$0.08	0	20110201	AMC	$55.46
AFFIL MANAGERS	AMG	201012	$1.92	$1.36	0	20110201		$104.58
AFLAC INC	AFL	201012	$1.35	$1.18	4.32	20110201	AMC	$58.48
ALLIANCE DATA	ADS	201012	$1.29	$1.67	11.51	20110201	AMC	$72.43
AMER SUPERCON	AMSC	201012	$0.27	$0.12	-4.35	20110201	BTO	$28.34
ANIXTER INTL	AXE	201012	$0.93	$0.50	4.85	20110201	BTO	$63.83
ARCHER DANIELS	ADM	201012	$0.78	$0.88	-28	20110201	BTO	$33.43
ARVINMERITOR	ARM	201012	$0.00	$0.00	-999	20110201	BTO	$22.62
AUTOLIV INC	ALV	201012	$1.68	$1.39	23.77	20110201	BTO	$80.92
AXCELIS TECH	ACLS	201012	$0.03	($0.10)	-20	20110201		$3.46
BANCO SANTAN SA	STD	201012	N/A	$0.36	N/A	20110201		$12.31
BEMIS	BMS	201012	$0.51	$0.45	-5	20110201	BTO	$32.90
BIGBAND NETWORK	BBND	201012	($0.10)	($0.03)	8.33	20110201	AMC	$2.74
BIOGEN IDEC INC	BIIB	201012	$1.23	$1.17	10.83	20110201	BTO	$67.09
BLACK BOX CORP	BBOX	201012	$0.80	$0.71	8.86	20110201	AMC	$36.42
BOSTON SCIENTIF	BSX	201012	$0.10	$0.20	100	20110201	AMC	$7.16
BP PLC	BP	201012	$1.64	$1.76	15.89	20110201	BTO	$46.68
BROADCOM CORP-A	BRCM	201012	$0.58	$0.42	7.14	20110201	AMC	$46.20
CELANESE CP-A	CE	201012	$0.68	$0.50	18.92	20110201	BTO	$41.11
CH ROBINSON WWD	CHRW	201012	$0.62	$0.52	1.64	20110201	AMC	$77.74
COGO GROUP INC	COGO	201012	$0.16	$0.13	7.69	20110201	AMC	$8.77
COMMVAULT SYSTM	CVLT	201012	$0.15	$0.12	-7.69	20110201	BTO	$30.35
CONCURRENT NEW	CCUR	201012	$0.01	$0.01	-566.67	20110201	AMC	$5.42
CORINTHIAN COL	COCO	201012	$0.22	$0.44	-2.56	20110201	BTO	$5.91
CORVEL CORP	CRVL	201012	$0.58	$0.54	-1.59	20110201		$49.07
COVIDIEN PLC	COV	201012	$0.81	$0.86	13.51	20110201	BTO	$47.80
CROWN HLDGS INC	CCK	201012	$0.38	$0.27	2.41	20110201	AMC	$33.79
CUMMINS INC	CMI	201012	$1.71	$1.37	-5	20110201	BTO	$109.92
DICE HOLDINGS	DHX	201012	$0.10	$0.06	50	20110201	BTO	$13.44
EAGLE MATERIALS	EXP	201012	$0.09	$0.11	-15.38	20110201	BTO	$28.85
EARTHLINK INC	ELNK	201012	$0.16	$0.33	4.76	20110201	BTO	$8.64
E-COMMRC CH-ADR	DANG	201012	$0.02	N/A	N/A	20110201	BTO	$29.17
ELECTR ARTS INC	ERTS	201012	$0.48	$0.21	88.46	20110201	AMC	$15.08
EMERSON ELEC CO	EMR	201012	$0.65	$0.56	3.85	20110201	BTO	$58.49
ENERGIZER HLDGS	ENR	201012	$1.94	$1.85	-14.74	20110201	BTO	$75.18
ENTEGRIS INC	ENTG	201012	$0.19	$0.12	5.88	20110201	BTO	$7.56
FIRST MARBLEHD	FMD	201012	($0.08)	($0.12)	-37.5	20110201	AMC	$2.23
FIRSTMERIT CORP	FMER	201012	$0.27	$0.17	3.85	20110201	DMT	$18.61
FORESTAR GROUP	FOR	201012	($0.02)	($0.09)	-999	20110201	AMC	$19.94
FORMFACTOR INC	FORM	201012	($0.43)	($0.55)	-12.5	20110201	AMC	$9.12
G&K SVCS A	GKSR	201012	$0.37	$0.31	16.67	20110201	BTO	$32.78
GALLAGHER ARTHU	AJG	201012	$0.26	$0.19	4.76	20110201	AMC	$30.00
GIGATRONICS INC	GIGA	201012	N/A	$0.06	N/A	20110201	AMC	$2.93
HARTE-HANKS INC	HHS	201012	$0.23	$0.28	-4.35	20110201		$13.17
HAWAIIAN HLDGS	HA	201012	$0.18	$0.19	52.78	20110201	AMC	$7.73
HEADWATERS INC	HW	201012	($0.28)	($0.23)	-155.56	20110201	BTO	$5.43
HEALTH NET INC	HNT	201012	$0.77	$0.70	-2.82	20110201	BTO	$29.60
IMATION CORP	IMN	201012	$0.03	$0.09	-66.67	20110201	BTO	$10.27
INERGY LP	NRGY	201012	$0.44	$0.49	-56.45	20110201	BTO	$40.81
INFINEON TECH	IFNNY	201012	$0.14	($0.06)	5	20110201		$10.69
INTEVAC INC	IVAC	201012	$0.03	$0.09	31.82	20110201	AMC	$13.32
JACK HENRY ASSC	JKHY	201012	$0.37	$0.35	8.82	20110201	AMC	$30.25
JDA SOFTWARE GP	JDAS	201012	$0.52	$0.38	12.82	20110201	AMC	$30.16
JONES LANG LASL	JLL	201012	$1.66	$1.44	-9.47	20110201	AMC	$89.25
KENSEY NASH CP	KNSY	201012	$0.41	$0.43	-2.38	20110201	BTO	$24.59
KEY TRONIC	KTCC	201012	N/A	$0.17	N/A	20110201	AMC	$5.81
KILROY REALTY	KRC	201012	$0.52	$0.39	1.89	20110201	BTO	$38.27
KINETIC CONCPTS	KCI	201012	$1.15	$1.10	10.09	20110201	BTO	$46.75
KULICKE & SOFFA	KLIC	201012	$0.09	$0.27	2.44	20110201	BTO	$9.98
LABRANCHE & CO	LAB	201012	($0.12)	$0.07	-600	20110201	BTO	$3.79
LACROSSE FOOTWR	BOOT	201012	$0.55	$0.36	-55.26	20110201	AMC	$16.14
LADISH COMPANY	LDSH	201012	$0.41	$0.44	11.11	20110201	AMC	$53.33
LANDAUER INC	LDR	201012	$0.67	$0.67	-5.56	20110201	BTO	$58.49
LANDSTAR SYSTEM	LSTR	201012	$0.47	$0.37	0	20110201	BTO	$42.12
LEAR CORPORATN	LEA	201012	$1.83	$1.21	109.17	20110201	BTO	$110.50
LEGGETT & PLATT	LEG	201012	$0.23	$0.30	-13.89	20110201	AMC	$23.23
LEXMARK INTL	LXK	201012	$1.11	$1.16	12.37	20110201	BTO	$36.43
MANHATTAN ASOC	MANH	201012	$0.28	$0.26	16.67	20110201	AMC	$30.37
MANNKIND CORP	MNKD	201012	($0.40)	($0.53)	-2.56	20110201	AMC	$5.13
MASSEY EGY CPY	MEE	201012	($0.22)	$0.28	-135.71	20110201	AMC	$54.39
MCGRAW-HILL COS	MHP	201012	$0.51	$0.51	11.93	20110201	BTO	$38.99
MEDICAL ACTION	MDCI	201012	$0.12	$0.25	-75	20110201	BTO	$8.64
MEDIWARE INFO	MEDW	201012	$999.00	$0.10	-20	20110201		$11.14
MELCO PBL ENTMT	MPEL	201012	$0.00	($0.16)	600	20110201	BTO	$7.52
MEMC ELEC MATRL	WFR	201012	$0.32	($0.02)	-23.08	20110201	AMC	$11.35
METALS USA HLDG	MUSA	201012	$0.09	($0.30)	-11.11	20110201	BTO	$15.58
MINEBEA CO-ADR	MNBEY	201012	N/A	$0.23	N/A	20110201		$12.04
MODINE MANUFACT	MOD	201012	$0.09	$0.07	-40	20110201		$17.37
MUELLER WATER	MWA	201012	($0.05)	($0.07)	-999	20110201	AMC	$4.18
NALCO HLDG CO	NLC	201012	$0.40	$0.30	7.69	20110201	AMC	$30.39
NETW EQUIP TECH	NWK	201012	N/A	($0.21)	45	20110201	AMC	$4.94
NISOURCE INC	NI	201012	$0.34	$0.35	-33.33	20110201	BTO	$18.75
ORION ENERGY SY	OESX	201012	$0.04	$0.04	0	20110201	AMC	$4.42
PACCAR INC	PCAR	201012	$0.46	$0.16	3.13	20110201	BTO	$56.56
PANASONIC CORP	PC	201012	N/A	$0.16	N/A	20110201		$14.07
PANTRY INC	PTRY	201012	($0.34)	($0.27)	-25.37	20110201	BTO	$17.16
PATRIOT COAL CP	PCX	201012	($0.32)	$0.26	3.57	20110201	BTO	$24.79
PEAPACK GLADSTN	PGC	201012	$0.23	$0.11	0	20110201		$13.65
PENTAIR CORP	PNR	201012	$0.46	$0.47	5.77	20110201	BTO	$36.42
PERICOM SEMICON	PSEM	201012	$0.09	$0.10	50	20110201	AMC	$10.40
PERRIGO COMPANY	PRGO	201012	$0.95	$0.70	12.99	20110201	BTO	$74.07
PFIZER INC	PFE	201012	$0.46	$0.49	5.88	20110201	BTO	$18.48
PLANTRONICS INC	PLT	201012	$0.53	$0.47	15.56	20110201	AMC	$36.02
POWELL INDS	POWL	201012	$0.32	$0.83	-42.42	20110201	AMC	$38.58
POWERWAVE TECH	PWAV	201012	$0.08	$0.01	50	20110201	AMC	$3.70
RADCOM LTD	RDCM	201012	N/A	$0.02	N/A	20110201		$13.05
RADISYS CORP	RSYS	201012	($0.02)	$0.13	12.5	20110201	AMC	$8.68
RTI INTL METALS	RTI	201012	($0.12)	($0.16)	-400	20110201	BTO	$29.03
SILGAN HOLDINGS	SLGN	201012	$0.40	$0.31	-2.2	20110201	AMC	$37.49
SYSCO CORP	SYY	201012	$0.46	$0.45	-3.92	20110201	BTO	$29.79
TECHNE CORP	TECH	201012	$0.68	$0.66	-2.74	20110201	BTO	$69.30
TITANIUM METALS	TIE	201012	$0.12	$0.03	9.09	20110201	AMC	$19.04
TRANSCOM WWD -A	TRCMY	201012	N/A	$0.29	N/A	20110201		$3.50
TUPPERWARE BRND	TUP	201012	$1.28	$1.22	10.34	20110201	BTO	$46.88
UNISYS	UIS	201012	$0.90	$2.64	-41.18	20110201	AMC	$28.68
UTD PARCEL SRVC	UPS	201012	$1.05	$0.75	6.9	20110201	BTO	$72.91
UTD RENTALS INC	URI	201012	$0.17	($0.21)	60	20110201	AMC	$27.71
VASCULAR SOLUTN	VASC	201012	$0.12	$0.10	-10	20110201	AMC	$10.91
WASHINGTON BNKG	WBCO	201012	$0.16	$0.11	-42.11	20110201	AMC	$13.68
WEBSENSE INC	WBSN	201012	$0.23	$0.11	19.05	20110201	AMC	$19.76
WESTERN UNION	WU	201012	$0.35	$0.32	8.82	20110201	AMC	$20.34
WOLVERINE WORLD	WWW	201012	$0.46	$0.45	4.48	20110201	BTO	$32.03
99 CENTS ONLY	NDN	201012	$0.38	$0.35	5.88	20110202	AMC	$15.43
AB ELECTROLUX	ELUXY	201012	N/A	$1.57	N/A	20110202	DMT	$58.13
ACE LIMITED	ACE	201012	$1.85	$2.01	9.24	20110202	AMC	$63.19
ACTUATE CORP	BIRT	201012	$0.11	$0.08	5.26	20110202		$5.67
ADEPT TECH INC	ADEP	201012	N/A	($0.21)	-1000	20110202		$4.80
AFFYMETRIX INC	AFFX	201012	$0.03	$0.04	33.33	20110202		$5.08
AGILYSYS INC	AGYS	201012	$0.22	$0.62	-66.67	20110202	BTO	$5.77
ALEXANDRIA REAL	ARE	201012	$1.19	$1.09	1.83	20110202	AMC	$77.90
ALLEGHENY ENGY	AYE	201012	$0.49	$0.66	37.74	20110202	BTO	$26.02
ALLERGAN INC	AGN	201012	$0.89	$0.78	0	20110202	BTO	$70.07
ALLIANCE FIBER	AFOP	201012	$0.20	$0.05	53.33	20110202	AMC	$17.22
ALPHA&OMEGA SEM	AOSL	201012	$0.27	N/A	5.56	20110202	AMC	$14.23
ALVARION LTD	ALVR	201012	($0.07)	$0.01	-25	20110202	BTO	$2.18
AMERIPRISE FINL	AMP	201012	$1.29	$0.91	28.04	20110202	AMC	$62.49
ANNALY CAP MGMT	NLY	201012	$0.64	$0.79	N/A	20110202	AMC	$17.99
AOL INC	AOL	201012	$0.44	$0.51	88.1	20110202	BTO	$24.17
ARROW ELECTRONI	ARW	201012	$1.28	$0.64	6.93	20110202	BTO	$37.71
ASSURANT INC	AIZ	201012	$0.97	$1.17	5.83	20110202	AMC	$39.87
ATLAS COP-ADR A	ATLKY	201012	N/A	$0.20	N/A	20110202	DMT	$25.23
ATMI INC	ATMI	201012	$0.22	$0.22	4.17	20110202	BTO	$21.01
ATWOOD OCEANICS	ATW	201012	$0.77	$1.03	6.45	20110202	AMC	$39.13
AVALONBAY CMMTY	AVB	201012	$1.01	$0.64	2.08	20110202	AMC	$116.17
AVERY DENNISON	AVY	201012	$0.98	$0.44	1.64	20110202	BTO	$42.13
BALLARD PWR SYS	BLDP	201012	($0.09)	($0.10)	-30	20110202	BTO	$1.65
BALLY TECH INC	BYI	201012	$0.46	$0.58	-13.04	20110202	AMC	$40.85
BANCO DE CHILE	BCH	201012	$1.29	$0.96	47.37	20110202		$84.76
BERKLEY (WR) CP	WRB	201012	$0.67	$0.71	4.69	20110202	AMC	$28.76
BMC SOFTWARE	BMC	201012	$0.69	$0.67	16.39	20110202	AMC	$48.34
BRIGHTPOINT INC	CELL	201012	$0.26	$0.21	33.33	20110202	AMC	$9.28
BRISTOW GROUP	BRS	201012	$0.85	$0.80	45.21	20110202	AMC	$50.45
BRYN MAWR BK CP	BMTC	201012	$0.28	$0.30	-21.05	20110202		$17.17
CACI INTL A	CACI	201012	$0.97	$0.85	4.55	20110202	AMC	$56.04
CADENCE DESIGN	CDNS	201012	$0.00	$0.02	550	20110202	AMC	$8.71
CAMERON INTL	CAM	201012	$0.67	$0.54	6.67	20110202	BTO	$52.46
CAMPUS CREST CM	CCG	201012	$0.17	N/A	N/A	20110202	AMC	$13.29
CAPSTEAD MTG	CMO	201012	$0.35	$0.55	N/A	20110202	AMC	$12.82
CARDIOVASCLR SY	CSII	201012	($0.19)	($0.46)	20	20110202	AMC	$11.92
CE FRANKLIN LTD	CFK	201012	N/A	($0.03)	N/A	20110202	AMC	$7.87
CHINA RECYCLING	CREG	201012	$0.10	$0.06	0	20110202		$2.96
CINCINNATI FINL	CINF	201012	$0.36	$0.53	-8.11	20110202	BTO	$32.79
CONCUR TECH INC	CNQR	201012	$0.11	$0.15	8.33	20110202		$51.26
CONSOL GRAPHICS	CGX	201012	$1.24	$1.17	5.88	20110202	BTO	$52.40
CONVERGYS CORP	CVG	201012	$0.30	$0.34	11.54	20110202	BTO	$14.41
CON-WAY INC	CNW	201012	$0.09	($0.04)	-12	20110202	AMC	$34.64
CREDIT ACCEPT	CACC	201012	$1.36	$1.11	7.75	20110202	AMC	$59.09
CUTERA INC	CUTR	201012	($0.12)	$0.00	-38.89	20110202	AMC	$8.41
CYMER INC	CYMI	201012	$0.68	$0.40	9.37	20110202	AMC	$48.92
DAWSON GEOPHYS	DWSN	201012	($0.18)	($0.54)	-1900	20110202	BTO	$32.68
DUN &BRADST-NEW	DNB	201012	$1.89	$1.75	1.68	20110202	AMC	$85.28
EDWARDS LIFESCI	EW	201012	$0.53	$0.42	2.38	20110202		$84.92
ENTROPIC COMMUN	ENTR	201012	$0.18	$0.02	7.14	20110202	AMC	$11.75
EQUITY RESIDENT	EQR	201012	$0.58	$0.52	1.85	20110202	AMC	$53.81
EVERCORE PARTNR	EVR	201012	$0.25	$0.41	11.76	20110202	BTO	$33.76
EXPONENT INC	EXPO	201012	$0.34	$0.30	20.93	20110202	AMC	$37.47
FOX CHASE BANCP	FXCB	201012	$0.03	($0.18)	25	20110202	AMC	$12.25
FURN BRAND INTL	FBN	201012	($0.09)	($1.35)	0	20110202	AMC	$4.73
GENWORTH FINL	GNW	201012	$0.17	$0.19	-76	20110202	BTO	$14.12
GT SOLAR INTL	SOLR	201012	$0.38	$0.25	16.67	20110202	AMC	$11.17
HANESBRANDS INC	HBI	201012	$0.43	$0.56	0	20110202	AMC	$22.46
HARTFORD FIN SV	HIG	201012	$0.95	$1.51	47.42	20110202	AMC	$28.67
HERSHEY CO/THE	HSY	201012	$0.61	$0.63	0	20110202	BTO	$47.83
HITACHI	HIT	201012	$1.48	$0.65	16.45	20110202		$56.05
HORIZON TECHNOL	HRZN	201012	$0.35	N/A	N/A	20110202	AMC	$15.95
HOSPIRA INC	HSP	201012	$0.93	$0.87	7.25	20110202	BTO	$55.69
IAC/INTERACTIV	IACI	201012	$0.22	$0.04	166.67	20110202	BTO	$28.53
INFOSPACE INC	INSP	201012	$0.00	$0.19	133.33	20110202	AMC	$8.55
INPHI CORP	IPHI	201012	$0.05	N/A	N/A	20110202	AMC	$18.85
INTERSIL CORP	ISIL	201012	$0.18	$0.18	27.27	20110202	AMC	$15.04
INTL COAL GROUP	ICO	201012	$0.08	$0.01	50	20110202	AMC	$8.60
JOES JEANS INC	JOEZ	201011	$0.01	$0.33	0	20110202	AMC	$1.60
KKR & CO LP	KKR	201012	$0.57	$999.00	122.45	20110202	BTO	$14.98
LANDMARK BCP	LARK	201012	N/A	$0.50	N/A	20110202	AMC	$16.30
LEVEL 3 COMM	LVLT	201012	($0.10)	($0.11)	9.09	20110202	BTO	$1.25
LINCOLN NATL-IN	LNC	201012	$0.88	$0.90	-27.59	20110202	AMC	$30.04
LUBRIZOL CORP	LZ	201012	$2.19	$1.95	16.23	20110202	BTO	$108.24
MAGELLAN MDSTRM	MMP	201012	$0.77	$0.77	-1.82	20110202	BTO	$55.50
MAGIC SOFTWARE	MGIC	201012	N/A	$0.11	N/A	20110202		$8.39
MANPOWER INC WI	MAN	201012	$0.61	$0.47	31.91	20110202	BTO	$65.84
MARATHON OIL CP	MRO	201012	$0.95	$0.32	6.38	20110202	BTO	$44.66
MARKEL CORP	MKL	201012	$4.54	$9.20	55.44	20110202	AMC	$400.63
MARKETAXESS HLD	MKTX	201012	$0.20	$0.17	22.22	20110202	BTO	$20.93
MASTECH HOLDNGS	MHH	201012	N/A	$0.06	N/A	20110202		$4.13
MATTEL INC	MAT	201012	$0.86	$0.81	2.67	20110202	BTO	$24.29
MATTSON TECH	MTSN	201012	($0.11)	($0.23)	-18.18	20110202	AMC	$2.41
MEASUREMNT SPCL	MEAS	201012	$0.46	$0.22	21.62	20110202	AMC	$28.20
MERITAGE HOMES	MTH	201012	($0.05)	($0.26)	150	20110202	AMC	$23.83
MERU NETWORKS	MERU	201012	($0.03)	N/A	-66.67	20110202	AMC	$18.21
MITSUBISHI-UFJ	MTU	201012	N/A	$0.08	N/A	20110202		$5.40
MITSUI	MITSY	201012	N/A	$3.17	N/A	20110202	DMT	$341.40
MKS INSTRUMENTS	MKSI	201012	$0.69	$0.31	4.35	20110202	AMC	$29.07
NASDAQ OMX GRP	NDAQ	201012	$0.51	$0.46	6.38	20110202	BTO	$25.21
NAVIGANT CONSLT	NCI	201012	$0.16	$0.18	-31.82	20110202	BTO	$10.33
NESS TECH INC	NSTC	201012	$0.05	$0.08	175	20110202	BTO	$6.12
NETLOGIC MCRSYS	NETL	201012	$0.20	($0.14)	33.33	20110202	AMC	$34.87
NEUSTAR INC -A	NSR	201012	$0.41	$0.40	2.63	20110202	AMC	$27.55
NEWPORT CORP	NEWP	201012	$0.35	$0.13	36	20110202	AMC	$17.61
NEWS CORP INC	NWS	201012	$0.29	$0.25	17.39	20110202	DMT	$17.05
NEWS CORP INC-A	NWSA	201012	$0.28	$0.25	12.5	20110202	AMC	$15.59
NJ RESOURCES	NJR	201012	$0.92	$0.65	-250	20110202	BTO	$42.87
NOMURA HLDG-ADR	NMR	201012	N/A	$0.03	N/A	20110202		$6.24
NOVO-NORDISK AS	NVO	201012	$1.33	$0.78	8.42	20110202	BTO	$116.10
NU SKIN ENTERP	NUS	201012	$0.54	$0.46	14.58	20110202	BTO	$30.56
OLD DOMINION FL	ODFL	201012	$0.38	$0.17	7.32	20110202	BTO	$33.37
OPEN TEXT CORP	OTEX	201012	$1.03	$0.85	9.88	20110202	AMC	$49.34
PARLUX FRAGRANC	PARL	201012	N/A	($0.27)	N/A	20110202	AMC	$3.36
PC CONNECTION	PCCC	201012	$0.24	$0.15	113.33	20110202	BTO	$9.03
PENNANTPARK INV	PNNT	201012	$0.28	$0.34	0	20110202	AMC	$12.56
PENNYMAC MORTGE	PMT	201012	$0.48	($0.07)	0	20110202	AMC	$18.63
POKERTEK INC	PTEK	201012	($0.05)	($0.07)	50	20110202		$0.69
QUINSTREET INC	QNST	201012	$0.17	$0.04	22.22	20110202	AMC	$22.51
REGAL BELOIT	RBC	201012	$0.66	$0.90	-1.72	20110202	AMC	$67.99
REGENCY CTRS CP	REG	201012	$0.53	$0.63	5.26	20110202	AMC	$43.09
RIGHTNOW TECH	RNOW	201012	$0.10	$0.05	28.57	20110202	AMC	$26.44
ROCHE HLDG LTD	RHHBY	201012	$1.54	$999.00	N/A	20110202		$38.50
SANDVIK AB	SDVKY	201012	N/A	($0.02)	N/A	20110202		$20.39
SANGAMO BIOSCI	SGMO	201012	($0.19)	($0.05)	-26.67	20110202	AMC	$7.68
SCHWEITZER-MAUD	SWM	201012	$1.00	$0.96	7.41	20110202	AMC	$61.84
SELECT INS GRP	SIGI	201012	$0.38	$0.47	-7.89	20110202	AMC	$18.27
SFN GROUP INC	SFN	201012	$0.13	$0.06	22.22	20110202	AMC	$9.91
SHUTTERFLY INC	SFLY	201012	$0.95	$0.84	34.62	20110202	AMC	$33.77
SILICON GRAPHIC	SGI	201012	N/A	$0.14	-34.15	20110202	AMC	$10.60
SOLERA HOLDINGS	SLH	201012	$0.55	$0.52	12	20110202	AMC	$53.03
SPARTAN STORES	SPTN	201012	$0.26	$0.23	13.64	20110202	AMC	$15.05
STANDARD PAC	SPF	201012	$0.00	($0.41)	300	20110202	AMC	$4.68
SUMITOMO METAL	SMMLY	201012	N/A	$999.00	N/A	20110202		$23.55
SUNCOR ENERGY	SU	201012	$0.49	$0.08	-5.26	20110202	DMT	$38.81
SYMETRA FINL CP	SYA	201012	$0.32	$0.29	3.23	20110202	AMC	$13.45
SYMMETRICOM INC	SYMM	201012	$0.01	$0.07	50	20110202	AMC	$6.35
TESORO CORP	TSO	201012	($0.02)	($0.99)	18.6	20110202	AMC	$18.92
TETRA TECH NEW	TTEK	201012	$0.33	$0.30	12.12	20110202	AMC	$23.82
THE9 LTD-ADR	NCTY	201012	($0.34)	($0.92)	15.38	20110202	AMC	$7.91
THERMO FISHER	TMO	201012	$0.95	$0.91	8.43	20110202	BTO	$57.85
THQ INC	THQI	201012	$0.22	$0.34	1.56	20110202	AMC	$5.86
TIME WARNER INC	TWX	201012	$0.62	$0.55	16.98	20110202	BTO	$32.31
UNUM GROUP	UNM	201012	$0.69	$0.66	0	20110202	AMC	$25.62
UPM-KYMMENE ADR	UPMKY	201012	N/A	$0.81	N/A	20110202	DMT	$20.32
VALENCE TECH	VLNC	201012	($0.02)	($0.04)	0	20110202	AMC	$1.59
VISA INC-A	V	201012	$1.20	$0.99	1.06	20110202	AMC	$70.60
VULCAN MATLS CO	VMC	201012	($0.19)	($0.10)	-57.89	20110202	AMC	$43.16
WALTER ENERGY	WLT	201012	$2.04	$0.50	-0.77	20110202	AMC	$128.02
WGL HLDGS INC	WGL	201012	$0.92	$1.01	-3.57	20110202	AMC	$36.73
WHIRLPOOL CORP	WHR	201012	$2.27	$1.64	0	20110202	BTO	$91.28
WISC ENERGY CP	WEC	201012	$1.01	$0.96	10.47	20110202		$60.70
XATA CORP	XATA	201012	N/A	($0.09)	-600	20110202	AMC	$2.80
YUM! BRANDS INC	YUM	201012	$0.60	$0.50	1.39	20110202	AMC	$47.59
ABIOMED INC	ABMD	201012	($0.09)	($0.11)	35.71	20110203	BTO	$10.01
ADV ANALGC TECH	AATI	201012	($0.08)	($0.09)	-11.11	20110203	AMC	$4.10
ADVISORY BOARD	ABCO	201012	$0.32	$0.27	3.45	20110203	AMC	$50.30
ALEX & BALDWIN	ALEX	201012	$0.44	$0.14	17.65	20110203	DMT	$41.00
ALKERMES INC	ALKS	201012	($0.15)	($0.07)	46.67	20110203	AMC	$13.30
ALLIANT TECHSYS	ATK	201012	$1.98	$2.33	3.56	20110203	BTO	$76.01
AMB PROPERTY CP	AMB	201012	$0.32	$0.32	6.67	20110203	BTO	$34.01
AMER FINL GROUP	AFG	201012	$0.95	$1.04	5.94	20110203	AMC	$33.47
APOLLO INV CP	AINV	201012	$0.24	$0.30	4	20110203	AMC	$11.88
ARCH CHEMICALS	ARJ	201012	$0.01	$0.11	21.05	20110203	BTO	$37.33
ARKANSAS BEST	ABFS	201012	($0.09)	($0.88)	25	20110203	BTO	$26.63
AROTECH CORP	ARTX	201012	N/A	$0.02	N/A	20110203	AMC	$1.61
AUTONATION INC	AN	201012	$0.35	$0.29	-7.14	20110203	BTO	$29.77
AVIAT NETWORKS	AVNW	201012	($0.09)	$0.01	-80	20110203	AMC	$5.25
AWARE INC/MASS	AWRE	201012	$0.01	$0.29	-100	20110203		$3.92
BALDOR ELECTRIC	BEZ	201012	$0.48	$0.13	14.89	20110203	AMC	$63.50
BALDWIN&LYONS A	BWINA	201012	N/A	$0.56	N/A	20110203	BTO	$21.86
BALDWIN&LYONS B	BWINB	201012	$0.46	$0.56	-45.16	20110203	BTO	$23.41
BANCO SANT -ADR	SAN	201012	$1.51	$1.49	2.16	20110203	AMC	$84.07
BE AEROSPACE	BEAV	201012	$0.40	$0.35	2.5	20110203	BTO	$39.70
BEBE STORES INC	BEBE	201012	$0.02	$0.03	0	20110203	DMT	$5.75
BELDEN INC	BDC	201012	$0.44	$0.39	7.5	20110203	BTO	$35.58
BELO CORP	BLC	201012	$0.32	$0.21	18.18	20110203	BTO	$6.96
BENCHMARK ELETR	BHE	201012	$0.35	$0.29	11.76	20110203	BTO	$19.52
BLACKBOARD INC	BBBB	201012	$0.24	$0.38	5.71	20110203	AMC	$39.75
BLACKSTONE GRP	BX	201012	$0.31	$0.29	20	20110203	BTO	$16.12
BOFI HLDG INC	BOFI	201012	$0.43	$0.45	9.76	20110203		$15.74
BRINKS CO THE	BCO	201012	$0.49	$0.41	7.32	20110203	BTO	$27.89
BROOKS AUTOMATN	BRKS	201012	$0.33	($0.02)	15.15	20110203	AMC	$12.37
CALAMOS ASSET-A	CLMS	201012	$0.24	$0.23	4.55	20110203	AMC	$16.04
CALIX INC	CALX	201012	$0.04	N/A	69.23	20110203	AMC	$15.64
CALLIDUS SOFTWR	CALD	201012	($0.03)	($0.15)	50	20110203	AMC	$6.13
CAMDEN PPTY TR	CPT	201012	$0.69	$0.71	0	20110203	AMC	$55.72
CARDINAL HEALTH	CAH	201012	$0.61	$0.57	20.75	20110203	BTO	$41.97
CAREFUSION CORP	CFN	201012	$0.37	$0.39	0	20110203	AMC	$25.77
CB RICHARD ELLS	CBG	201012	$0.32	$0.28	17.65	20110203	AMC	$22.09
CENTER FINL CP	CLFC	201012	$0.11	($1.35)	225	20110203		$7.48
CENTRAL GARDEN	CENT	201012	($0.10)	($0.04)	-114.29	20110203	AMC	$10.51
CHINACACHE INTL	CCIH	201012	$0.07	N/A	N/A	20110203	AMC	$22.75
CIGNA CORP	CI	201012	$1.01	$1.03	3.77	20110203	BTO	$42.55
CME GROUP INC	CME	201012	$3.81	$3.37	0	20110203	BTO	$309.88
CODEXIS INC	CDXS	201012	($0.07)	N/A	38.46	20110203	AMC	$9.31
COINSTAR INC	CSTR	201012	$0.67	$0.32	29.41	20110203	AMC	$41.33
CONMED CORP	CNMD	201012	$0.35	$0.37	21.43	20110203	BTO	$26.27
CONSTANT CONTAC	CTCT	201012	$0.06	($0.06)	42.86	20110203	AMC	$28.86
CONVIO INC	CNVO	201012	($0.01)	($0.12)	125	20110203		$9.00
CORELOGIC INC	CLGX	201012	$0.24	$0.38	146.43	20110203	AMC	$20.63
COSTAMARE INC	CMRE	201012	$0.33	$0.22	N/A	20110203	AMC	$15.10
CREDICORP LTD	BAP	201012	$1.81	$1.53	7.69	20110203	AMC	$107.48
CVS CAREMARK CP	CVS	201012	$0.78	$0.79	1.56	20110203	BTO	$35.71
CYPRESS SHARPRG	CYS	201012	$0.38	$0.52	N/A	20110203		$13.13
DATAWATCH CORP	DWCH	201012	N/A	($0.03)	N/A	20110203	DMT	$3.24
DEUTSCHE BK AG	DB	201012	$1.03	$2.95	0.9	20110203		$60.19
DIAMOND OFFSHOR	DO	201012	$1.46	$1.98	5.15	20110203	BTO	$72.00
DOLBY LAB INC-A	DLB	201012	$0.62	$0.59	16.33	20110203	AMC	$61.85
DOW CHEMICAL	DOW	201012	$0.35	$0.18	31.71	20110203	BTO	$35.57
ELIZABETH ARDEN	RDEN	201012	$1.02	$0.80	38.46	20110203		$24.75
EMPIRE DISTRICT	EDE	201012	$0.25	$0.22	12.24	20110203	AMC	$21.92
ENBRIDGE INC	ENB	201012	$0.68	$0.60	13.04	20110203	BTO	$57.74
ENVESTNET INC	ENV	201012	$0.07	$999.00	0	20110203	AMC	$14.25
ESCO TECH INC	ESE	201012	$0.20	$0.02	12.66	20110203	AMC	$36.27
ESSEX PPTY TR	ESS	201012	$1.35	$1.16	1.64	20110203	AMC	$116.47
ESTEE LAUDER	EL	201012	$1.44	$1.28	25.97	20110203	BTO	$81.46
FALCONSTOR SFTW	FALC	201012	($0.12)	($0.03)	-625	20110203	AMC	$3.75
FBL FINL GRP-A	FFG	201012	$0.75	$1.10	36.11	20110203	AMC	$29.47
FEI COMPANY	FEIC	201012	$0.38	$0.19	24	20110203	AMC	$27.64
FIFTH STREET FI	FSC	201012	$0.26	$0.22	-4.55	20110203	BTO	$13.53
FIRST INTST MT	FIBK	201012	$0.17	$1.35	20	20110203	AMC	$13.71
FISERV INC	FISV	201012	$1.07	$0.94	4	20110203	AMC	$62.87
FLEXSTEEL INDS	FLXS	201012	$0.43	$0.45	120	20110203	AMC	$16.80
GENOMIC HEALTH	GHDX	201012	$0.06	($0.01)	0	20110203	AMC	$22.98
GLAXOSMITHKLINE	GSK	201012	$0.88	$1.14	-27.27	20110203		$37.46
GOODRICH CORP	GR	201012	$1.04	$0.87	10.62	20110203	BTO	$91.71
HAIN CELESTIAL	HAIN	201012	$0.37	$0.31	0	20110203	AMC	$27.49
HARMAN INTL IND	HAR	201012	$0.52	$0.40	29.63	20110203	BTO	$44.12
HARMONIC INC	HLIT	201012	$0.06	$0.04	-16.67	20110203	AMC	$8.38
HILLENBRAND INC	HI	201012	$0.45	$0.46	5.26	20110203		$22.44
HOKU CORP	HOKU	201012	($0.05)	($0.06)	33.33	20110203	AMC	$2.56
IDEX CORP	IEX	201012	$0.51	$0.43	6.38	20110203		$39.81
IEC ELECTRS NEW	IEC	201012	N/A	$0.08	N/A	20110203	BTO	$8.84
IND BACHOCO-ADR	IBA	201012	N/A	($0.17)	N/A	20110203		$25.29
INTERMEC INC	IN	201012	$0.12	$0.12	-400	20110203	AMC	$11.47
INTL PAPER	IP	201012	$0.65	$0.24	16.67	20110203	BTO	$29.18
INVACARE CORP	IVC	201012	$0.64	$0.63	7.69	20110203	BTO	$28.80
INVEST TECH-NEW	ITG	201012	$0.21	$0.19	-17.65	20110203	BTO	$18.63
ITT CORP	ITT	201012	$1.26	$0.97	9.09	20110203	BTO	$59.43
IXIA	XXIA	201012	$0.14	$0.03	22.22	20110203	AMC	$15.82
JDS UNIPHASE CP	JDSU	201012	$0.16	$0.07	33.33	20110203	AMC	$16.75
KELLOGG CO	K	201012	$0.51	$0.46	0	20110203	BTO	$50.85
KELLY SVCS A	KELYA	201012	$0.22	$0.05	82.35	20110203	BTO	$19.80
KELLY SVCS B	KELYB	201012	N/A	$0.05	N/A	20110203	BTO	$20.45
KEMET CORP	KEM	201012	$0.47	$0.15	69.23	20110203		$15.19
KUBOTA CORP ADR	KUB	201012	N/A	$0.51	N/A	20110203		$52.73
LANTRONIX INC	LTRX	201012	N/A	($0.01)	N/A	20110203	AMC	$3.54
LAS VEGAS SANDS	LVS	201012	$0.38	$0.03	47.83	20110203	AMC	$46.92
LAZARD LTD	LAZ	201012	$0.63	($0.46)	7.14	20110203	BTO	$41.70
LENDER PROC SVC	LPS	201012	$0.91	$0.82	0	20110203	AMC	$32.03
LENNOX INTL INC	LII	201012	$0.53	$0.58	0	20110203	BTO	$48.38
LIFE TECHNOLOGS	LIFE	201012	$0.86	$0.80	11.54	20110203	AMC	$54.08
LIQUIDITY SVCS	LQDT	201012	$0.05	$0.11	28.57	20110203		$13.80
M/I HOMES INC	MHO	201012	($0.07)	$1.30	13.33	20110203		$15.22
MARINEMAX INC	HZO	201012	($0.28)	($0.41)	80	20110203	BTO	$9.00
MASTERCARD INC	MA	201012	$3.04	$2.43	11.3	20110203	BTO	$239.11
MATRIX SERVICE	MTRX	201012	$0.17	$0.19	20	20110203	BTO	$11.30
MAXIMUS INC	MMS	201012	$0.96	$0.83	3.85	20110203	BTO	$67.89
MAXLINEAR INC-A	MXL	201012	($0.02)	$999.00	0	20110203	AMC	$11.35
MDU RESOURCES	MDU	201012	$0.33	$0.39	-6.82	20110203		$21.32
MEDCATH CORP	MDTH	201012	$0.03	($0.11)	-999	20110203	AMC	$13.44
MEDNAX INC	MD	201012	$1.12	$1.00	0.95	20110203	BTO	$67.37
MERCK & CO INC	MRK	201012	$0.83	$0.79	2.41	20110203		$33.25
METSO CORP -ADR	MXCYY	201012	N/A	$0.25	N/A	20110203		$54.75
MF GLOBAL HLDGS	MF	201012	$0.05	($0.05)	-50	20110203	BTO	$8.45
MID-AMER APT CM	MAA	201012	$0.96	$0.92	10.84	20110203	AMC	$63.14
MINERAL TECH	MTX	201012	$0.82	$0.62	2.27	20110203	AMC	$64.33
MISSION WEST	MSW	201012	$0.13	$0.16	-21.43	20110203		$6.92
MONOLITHIC PWR	MPWR	201012	$0.03	$0.12	16.67	20110203	AMC	$15.01
MOODYS CORP	MCO	201012	$0.48	$0.42	28.89	20110203	BTO	$29.48
MOSYS INC	MOSY	201012	N/A	($0.12)	N/A	20110203	AMC	$6.03
MTS SYSTEMS	MTSC	201012	$0.46	$0.23	25.58	20110203	AMC	$38.32
MULTI-COLOR	LABL	201012	N/A	$0.26	7.14	20110203	BTO	$17.82
MULTI-FINELINE	MFLX	201012	$0.54	$0.63	4.26	20110203		$29.05
MULTIMEDIA GAME	MGAM	201012	($0.06)	($0.15)	-66.67	20110203	BTO	$5.67
MWI VET SUPPLY	MWIV	201012	$0.73	$0.63	16.39	20110203	BTO	$63.59
NATL FUEL GAS	NFG	201012	$0.77	$0.78	5.41	20110203	AMC	$68.03
NATL OILWELL VR	NOV	201012	$0.96	$0.96	7.78	20110203	BTO	$70.87
NCR CORP-NEW	NCR	201012	$0.51	$0.37	39.39	20110203	AMC	$16.68
NET 1 UEPS TECH	UEPS	201012	$0.36	$0.48	0	20110203	AMC	$11.60
NETSPEND HLDGS	NTSP	201012	$0.09	$0.04	-11.11	20110203	AMC	$14.02
NETSUITE INC	N	201012	($0.09)	$0.03	-22.22	20110203	AMC	$25.88
NEUROCRINE BIOS	NBIX	201012	$0.04	($0.22)	20	20110203	AMC	$7.56
NEUROMETRIX INC	NURO	201012	($0.17)	($0.08)	11.76	20110203	BTO	$0.56
NEW GOLD INC	NGD	201012	$0.09	$0.00	-28.57	20110203	AMC	$7.79
NEWMARKET CORP	NEU	201012	$3.15	$2.85	4.92	20110203	AMC	$129.16
NIC INC	EGOV	201012	$0.06	$0.04	50	20110203	AMC	$10.24
NY TIMES A	NYT	201012	$0.35	$0.44	40	20110203	BTO	$10.81
OCULUS INNOVATV	OCLS	201012	($0.07)	($0.05)	N/A	20110203	AMC	$2.06
ON SEMICON CORP	ONNN	201012	$0.21	$0.19	0	20110203	BTO	$11.36
OPENWAVE SYS	OPWV	201012	($0.03)	$0.04	75	20110203		$2.08
OPNEXT INC	OPXT	201012	N/A	($0.17)	12.5	20110203	AMC	$1.90
ORIENTAL FINL	OFG	201012	$0.29	($1.80)	-276.32	20110203	AMC	$11.79
PACIFIC BIOSCI	PACB	201012	($0.95)	($35.84)	N/A	20110203	AMC	$15.43
PENN NATL GAMNG	PENN	201012	$0.27	($0.15)	12.12	20110203	BTO	$37.13
PERKINELMER INC	PKI	201012	$0.42	$0.43	6.9	20110203	AMC	$26.01
PLANAR SYSTEMS	PLNR	201012	($0.07)	($0.08)	80	20110203	DMT	$2.52
POLYONE CORP	POL	201012	$0.15	$0.14	21.74	20110203	BTO	$13.15
POWER INTGRATIO	POWI	201012	$0.30	$0.32	7.5	20110203	AMC	$37.55
POWER-ONE INC	PWER	201012	$0.41	$0.06	73.91	20110203	AMC	$10.63
QUEST SOFTWARE	QSFT	201012	$0.41	$0.36	12.5	20110203	AMC	$26.00
RADWARE LTD	RDWR	201012	$0.22	$0.14	5.56	20110203	BTO	$36.87
RALCORP HLD-NEW	RAH	201012	$1.26	$1.20	12.5	20110203	AMC	$61.95
RBC BEARINGS	ROLL	201012	$0.41	$0.26	5.13	20110203	BTO	$36.80
REALD INC	RLD	201012	($0.12)	N/A	33.33	20110203	AMC	$25.69
REYNOLDS AMER	RAI	201012	$0.62	$0.55	0.75	20110203	BTO	$32.56
RHINO RESOURCES	RNO	201012	$0.39	N/A	N/A	20110203	BTO	$25.48
ROFIN-SINAR	RSTI	201012	$0.44	$0.12	20	20110203	BTO	$38.10
ROYAL DTCH SH-A	RDS.A	201012	$1.63	$0.38	6.72	20110203		$70.72
ROYAL DTCH SH-B	RDS.B	201012	N/A	$0.38	N/A	20110203		$70.51
ROYAL GOLD INC	RGLD	201012	$0.30	$0.23	-16	20110203	BTO	$46.18
RUDDICK CORP	RDK	201012	$0.55	$0.49	14.29	20110203	AMC	$34.39
RYDER SYS	R	201012	$0.63	$0.41	16.92	20110203		$49.42
SALLY BEAUTY CO	SBH	201012	$0.19	$0.14	15	20110203	BTO	$13.33
SHANGPHARMA-ADR	SHP	201012	$0.21	N/A	N/A	20110203	AMC	$13.31
SILICON IMAGE	SIMG	201012	$0.01	($0.09)	500	20110203	AMC	$7.19
SNAP-ON INC	SNA	201012	$0.88	$0.63	23.08	20110203	BTO	$57.52
SONY CORP ADR	SNE	201012	$1.18	$0.86	400	20110203	BTO	$35.37
SPECTRA ENERGY	SE	201012	$0.40	$0.33	-3.13	20110203	BTO	$26.05
STANLEY FURN CO	STLY	201012	($0.42)	$0.17	0	20110203		$4.21
STARWOOD HOTELS	HOT	201012	$0.39	$0.51	13.64	20110203	BTO	$61.33
STERICYCLE INC	SRCL	201012	$0.64	$0.55	3.17	20110203		$79.25
SUBURB PROPANE	SPH	201012	$1.34	$1.42	-8.33	20110203		$58.52
SUNOCO INC	SUN	201012	$0.07	($0.27)	-47.62	20110203	AMC	$42.54
SYNUTRA INTL	SYUT	201012	($0.20)	($0.18)	-76.19	20110203	AMC	$12.50
TELECOMMUN SYS	TSYS	201012	$0.05	$0.20	0	20110203	AMC	$4.21
TENNECO INC	TEN	201012	$0.37	$0.13	2.86	20110203	BTO	$45.13
TIMBERLAND CO A	TBL	201012	$0.50	$0.40	31.58	20110203	BTO	$27.87
TRANSCEND SVCS	TRCR	201012	$0.25	$0.22	-10	20110203	BTO	$19.02
TRAVELZOO INC	TZOO	201012	$0.20	$0.09	100	20110203	BTO	$48.49
TRIMBLE NAVIGAT	TRMB	201012	$0.31	$0.16	16.67	20110203	AMC	$44.95
UNIFI INC	UFI	201012	$0.21	$0.09	54.55	20110203	BTO	$17.34
UNILEVER PLC	UL	201012	$0.38	$0.39	-7.55	20110203	DMT	$29.61
UNITIL CORP	UTL	201012	$0.68	$0.47	-999	20110203	BTO	$22.80
UNIVL AMERICAN	UAM	201012	$1.22	$1.21	0	20110203		$20.59
UNIVL TECH INST	UTI	201012	$0.40	$0.38	-25.64	20110203	AMC	$19.20
VERTEX PHARM	VRTX	201012	($0.90)	($0.75)	-8.79	20110203	AMC	$39.39
VIACOM INC-A	VIA	201012	$1.00	$1.09	8.7	20110203	BTO	$48.75
VIACOM INC-B	VIA.B	201012	$1.00	$1.09	8.7	20110203	BTO	$42.51
WAYSIDE TECH GP	WSTG	201012	N/A	$0.20	N/A	20110203	DMT	$12.30
WESTWOOD HLDGS	WHG	201012	$0.41	$0.41	5.56	20110203	AMC	$37.83
WILLIAMS CTRLS	WMCO	201012	$0.06	$0.05	-22.22	20110203	BTO	$10.52
WSFS FINL CORP	WSFS	201012	$0.43	($0.09)	30.23	20110203	AMC	$46.45
ZORAN CORP	ZRAN	201012	($0.41)	($0.06)	50	20110203	AMC	$9.83
ACETO CORP	ACET	201012	$0.09	($0.05)	37.5	20110204	BTO	$9.03
AETNA INC-NEW	AET	201012	$0.60	$0.40	25.37	20110204	BTO	$34.12
AMERISOURCEBRGN	ABC	201012	$0.53	$0.52	4.17	20110204	BTO	$36.82
AON CORP	AON	201012	$0.82	$0.96	-7.58	20110204	BTO	$45.91
APARTMENT INVT	AIV	201012	$0.35	$0.36	17.65	20110204	BTO	$25.70
AVID TECH INC	AVID	201012	($0.03)	($0.13)	50	20110204	BTO	$17.00
BROOKFIELD INFR	BIP	201012	$0.45	($0.10)	48.57	20110204	BTO	$21.80
BT GRP PLC-ADR	BT	201012	N/A	$0.44	N/A	20110204		$28.88
CLOROX CO	CLX	201012	$0.62	$0.77	-4.42	20110204	BTO	$64.32
CNA SURETY CORP	SUR	201012	$0.57	$1.11	21.05	20110204	BTO	$24.06
COMPLETE PRODUC	CPX	201012	$0.52	($0.17)	35.48	20110204		$27.73
CONSTELLATN EGY	CEG	201012	$0.56	$0.30	-25	20110204	BTO	$32.98
DOMTAR CORP	UFS	201012	$3.01	$1.39	29.88	20110204	BTO	$87.63
ENERGY XXI LTD	EXXI	201012	$0.14	N/A	-144.44	20110204		$27.41
FEMALE HEALTH	FHCO	201012	N/A	$0.02	533.33	20110204	BTO	$5.41
FORTUNE BRANDS	FO	201012	$0.58	$0.66	-2.7	20110204	BTO	$61.83
GRAHAM CORP	GHM	201012	$0.07	$0.08	128.57	20110204	BTO	$22.81
HUDSON VLY HLDG	HUVL	201012	$0.26	$0.31	-10.71	20110204	BTO	$22.42
INTL CONS AIRLN	ICAGY	201012	N/A	($0.28)	-1677.78	20110204		$21.55
JOHNSON OUTDOOR	JOUT	201012	($0.32)	($0.45)	27.06	20110204	BTO	$15.43
KIMBALL INTL B	KBALB	201012	N/A	$0.00	N/A	20110204		$7.00
KNOLL INC	KNL	201012	$0.22	$0.14	-17.65	20110204	BTO	$17.30
MDC HLDGS	MDC	201012	($0.18)	($0.13)	26.67	20110204	BTO	$31.60
MONEYGRAM INTL	MGI	201012	($0.35)	($0.04)	-3.45	20110204	BTO	$2.67
NIPPON TELE-ADR	NTT	201012	N/A	$0.01	N/A	20110204	BTO	$23.21
NSK LTD -UN ADR	NPSKY	201012	N/A	N/A	N/A	20110204		$18.93
OCHARLEYS INC	CHUX	201012	($0.30)	($0.44)	-17.39	20110204	BTO	$7.79
ONEBEACON INSUR	OB	201012	$0.32	$0.70	93.1	20110204		$14.00
PINNACLE ENTRTN	PNK	201012	($0.08)	($0.46)	242.86	20110204	BTO	$15.22
POPULAR INC	BPOP	201012	$0.00	($0.33)	450	20110204	BTO	$3.25
PPL CORP	PPL	201012	$0.60	$0.52	7.25	20110204	BTO	$25.74
PULTE GROUP ONC	PHM	201012	($0.10)	$0.02	40	20110204	BTO	$8.24
SENSIENT TECH	SXT	201012	$0.51	$0.47	7.55	20110204	BTO	$34.96
SIMON PROPERTY	SPG	201012	$1.74	$1.66	13.04	20110204	BTO	$101.35
SIMPSON MFG INC	SSD	201012	$0.11	($0.06)	0	20110204		$30.77
SIRONA DENTAL	SIRO	201012	$0.81	$0.55	-20	20110204	DMT	$44.52
STONERIDGE INC	SRI	201012	$0.15	$0.00	-72.73	20110204		$15.35
TECO ENERGY	TE	201012	$0.23	$0.25	-17.07	20110204	BTO	$18.36
TIDEWATER INC	TDW	201012	$0.69	$1.16	-14.55	20110204	BTO	$57.75
TOWERS WATSON	TW	201012	$0.85	N/A	-21.11	20110204	BTO	$54.87
TOYOTA MOTOR CP	TM	201012	N/A	($0.58)	N/A	20110204		$83.53
TRANSPORTADORA	TGS	201012	N/A	$0.23	N/A	20110204		$6.24
TYSON FOODS A	TSN	201012	$0.62	$0.42	14.29	20110204	BTO	$16.81
VIAD CORP	VVI	201012	($0.14)	($0.35)	43.75	20110204	BTO	$24.92
VOLVO AB ADR B	VOLVY	201012	$0.30	($0.13)	110	20110204		$17.84
WEYERHAEUSER CO	WY	201012	$0.05	($0.21)	127.27	20110204	BTO	$23.01
WISDOMTREE INV	WSDT	201012	N/A	($0.05)	N/A	20110204		$5.10
YRC WORLDWD INC	YRCW	201012	($1.35)	N/A	5.43	20110204	BTO	$4.37

 
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