Russell 2000 futures jump

Alex Alexandrov | Jan 08, 2008 9:06am EST | Comment

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The Russell 2000 (NYSE: IWM) futures are rising and the small-cap index will likely open in positive territory.

Small-cap stocks are ready to begin trading on a bullish note for the second consecutive session, while investors await data on pending November U.S. home sales. The numbers will be released shortly after the opening.

If KB Home is any indication, the U.S. housing market continues to agonize. The Los Angeles, Calif.-based builder of single-family homes reported this morning that its fiscal fourth-quarter loss was $772.7 million, or $9.99 per share, compared with a loss of $49.6 million, or $0.64 per share, a year ago.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Sirtris Pharmaceuticals, Inc. (SIRT), up 14% on news of positive results from a clinical study of a diabetes drug.
• Newport Corp. (NEWP), up 7% on news that it expects fourth-quarter earnings above its previous forecast.
• Websense Inc. (WBSN), up 6% to on news it expects to beat its previously released fourth-quarter revenue projections.

Biggest percentage losers:

• ChemGenex Pharmaceuticals Ltd. (CXSP), down 11%.
• Hill International, Inc. (HINT), down 4% on news of a joint venture with an investment management firm.
• The Dress Barn, Inc. (DBRN), down 3%.