Daniel Brenner
Daniel writes The SmallCap Signal's analysis desk, examining valuation spreads, rate sensitivity, and the structural forces shaping small-cap performance cycles.
Articles by Daniel Brenner
360% Revenue Growth, Lodged With the ASX. Here Is the Small Cap Behind It.
One number, one filing, one ticker. Scalare Partners (ASX: SCP) put its half-year on the record. The smart money read it in February. Your turn.
Two Banks Clean Up Their Bond Books on the Same Morning: QNB Books an Estimated $26.2 Million Pre-Tax Loss, United Community About $300 Million Net of an Asset-Sale Gain
QNB Corp. sold 46.8% of its securities portfolio to reinvest 386 basis points higher. United Community sold roughly $2.6 billion of securities, expects a third-quarter loss, and added $100 million to its buyback authorization.
Four Reverse Splits in Three Weeks: Inside the Small-Cap Listing-Compliance Treadmill
Onfolio squeezed 42 million shares into 850,000 and said Thursday it had regained Nasdaq compliance. Interpace, Cycurion and Glucotrack are running the same play this week - under rules that now make it close to a one-shot.
Prenetics Says Cash Flow Turned Positive in July. Its Own Definition of Cash Flow Includes Draws on a $1 Billion Facility.
IM8 delivered $45.0 million of the company's $46.5 million second quarter, and full-year guidance went up for the third time since May. The milestone metric is a non-IFRS measure that adds financing inflows to operating cash.
Wednesday's 50% tariff on Canadian goods lands on small-cap importers, not on the metals and energy names
A 50% duty on close to $20 billion of Canadian imports takes effect at 12:01 a.m. ET on Wednesday, August 19, the first use of Section 338 of the Tariff Act of 1930. Energy, potash, fish, critical minerals and anything already under Section 232 are carved out, which rules out most of the commodity small caps investors reach for first. What is in scope is plywood, cement, furniture, seeds and hundreds of other lines that US small and mid caps buy as inputs, and the duty is owed by the American importer of record.
The Drone Tariff Wall Goes Up September 3. The Magnet Inside the Motor Is Still Chinese.
A 100% Section 232 duty repriced US drone assemblers on Friday. But Commerce's own prior finding under the same statute is that the United States is essentially entirely dependent on imported sintered NdFeB magnets — and the arithmetic of pricing power runs through that sentence.
Three Housing Prints and Two Builders in 48 Hours: The Small-Cap Housing Complex Meets Its Test Week
NAHB sentiment Monday, Census starts and permits plus NAR pending sales Tuesday, then Toll Brothers Tuesday night and Hovnanian Thursday morning. For the domestically geared small- and mid-cap housing names — and for a sector already consolidating at below book value — the read-across matters more than it does for the mega-caps.
Small Caps Are the Only Green Index on the Morning the Consumer Cracked
The Russell 2000 traded above Thursday's record close while the S&P, Nasdaq and Dow all fell — a divergence built on a rate trade that cuts both ways for small caps.
The Small-Cap Week Ahead: Big-Box Earnings, July Fed Minutes and Three Dissents for a Hike
Small caps enter Friday at a record, with the Russell 2000 closing Thursday at 3,052.85. Next week hands them a consumer read-through in six parts — Home Depot, Target, TJX, Lowe's, Walmart and BJ's — plus July FOMC minutes on Wednesday from a meeting where three policymakers dissented in favor of a rate increase.
The Russell 2000 set a record close on cooler producer prices, but small caps still finished last among the big four indexes
July producer prices came in flat and September rate-hike odds fell, handing the Russell 2000 an all-time closing high on Thursday. But the small-cap benchmark rose 0.24% while the Nasdaq gained 0.81%, which is the problem with declaring a broadening rally on the strength of a single session.
Producer prices and retail sales set the harder test for small caps this week
July CPI landed in line on Wednesday, but the wedge between producer and consumer inflation is where small-cap margins actually live. Thursday's PPI and Friday's retail sales report will say more about the Russell 2000 than the CPI print did.