Arkansas stocks swing back with overall market gain

Easy come, easy go. And vice versa.

On Monday, the share price of all publicly-traded companies based in Arkansas fell as part of a major sell-off on Wall Street that followed a U.S. credit rating upgrade by Standard & Poor’s.

On Tuesday (Aug. 9), the market came roaring back, with the Dow Jones Industrial average up 429.92 points and the NASDAQ up more than 5.2%. Van Buren-based USA Truck (NASDAQ: USAK) was the only publicly-traded company based in Arkansas to not see a share price gain on Tuesday. The trucking company shares closed at $10.55, down 2.94%.

The broad market gains were attributed to assurances by the Federal Reserve Bank that it would keep interest rates low for at least two more years, and hinted at another round of what is referred to as “quantitative easing,” which is when the Fed injects money into the economy through the purchase of bonds.

The Federal Open Market Committee (FOMC) of the Fed board said low interest rates would likely be need through mid-2013.

“The Committee currently anticipates that economic conditions — including low rates of resource utilization and a subdued outlook for inflation over the medium run — are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013,” the FOMC noted in its statement. “The Committee also will maintain its existing policy of reinvesting principal payments from its securities holdings. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate.”

However, the FOMC vote on the action was 7-3, the first time more than three board governors dissented on a vote since 1992.

Of the Arkansas stocks, Pine Bluff-based Simmons First National Corp. (NASDAQ: SFNC) enjoyed the biggest gain, rising 12.84% to close at $24.87. The smallest gain was with Little Rock-based Acxiom Corp. (NASDAQ: ACXM) which closed Tuesday at $11.32, up just 0.89%.

Wal-Mart shares were up 3.88% to close at $50.82 — still well below a 52-week high of $57.90.

ARKANSAS STOCKS
Acxiom Corp.
Close: $11.32
up 0.89%

America’s Car Mart
Close: $32.10
up 9.15%

Arkansas Best Corp.
Close: $20.75
up 5.22%

Bank of the Ozarks
Close: $47.86
up 2.97%

Deltic Timber
Close: $52.86
up 8.63%

Dillard’s
Close: $48.84
up 5.67%

Home Bancshares
Close: $23.50
up 5.24%

J.B. Hunt Transport
Close: $40.81
up 4.21%

Murphy Oil
Close: $51.71
up 2.44%

P.A.M. Transportation
Close: $9.69
up 4.08%

Simmons First National Corp.
Close: $24.87
up 12.84%

Tyson Foods
Close: $16.72
up 6.63%

USA Truck
Close: $10.55
down 2.94%

Wal-Mart Stores
Close: $50.82
up 3.88%

Windstream
Close: $11.51
up 6.48%