Small-cap stocks fall; ENOC, SLW, and DTG lead gainers
Small-cap stocks pushed lower on the open as sloppy profit numbers and weak economic data returned to center stage now that the U.S. presidential election has been decided following last night’s historic runaway victory by Barack Obama. Today's small-cap gainers were EnerNOC Inc. (Nasdaq:ENOC), Silver Wheaton (NYSE: SLW) and Dollar Thrifty Auto (NYSE:DTG).
Other Market Watch highlights included:
• Crude oil prices pushed lower into the stock market open, staging a moderate pullback after Tuesday’s big rally and before inventory data comes out later this morning.
• BMO's Andrew Busch: A stimulus package of $150B will likely be enacted, with checks mailed out by March.
• From a strict company perspective, there is a broad sense that an Obama presidency would be positive for solar and wind companies.
• Today Treasury said it will resurrect 3-year note, do more auctions of 10-year notes & 30-year bonds to fund the gvnt.’s borrowing needs.
• There was another big pullback in Libor rates overnight, which should help encourage inter-bank lending and help thaw out the credit market freeze.
Small Cap Gainers:
• EnerNOC Inc. rallied 25% today, riding a boost in the energy sector. See (Nasdaq:ENOC).
• Silver Wheaton up 18% after it prioritizes debt reduction, remains bullish on silver. See (NYSE:SLW).
• Dollar Thrifty Auto jumping 18% in pre-market on better-than-expected earnings. See (NYSE:DTG).
• Clinical research organization Kendle International reports record Q3 08 net income; shares up 12.46% in pre-market. See (Nasdaq:KNDL).
Small Cap Losers:
• Clean Energy Fuels Corp. gapped lower and was down 17%, giving back most of the sizable previous three-day rally. See (Nasdaq:CLNE).
• Stone Energy Corp. tumbled 20% tied to earnings news. See (NYSE:SGY).
• i2 Technologies down 27% after JDA Software Group requested an adjournment of ITWO’s shareholder meeting to negotiate a reduced purchase price for the firm. See (Nasdaq:ITWO).
• Ambac Financial Group Inc. is tumbling 26% as quarterly losses were much bigger than expected. See (NYSE:ABK).
Other Market Watch highlights included:
• Crude oil prices pushed lower into the stock market open, staging a moderate pullback after Tuesday’s big rally and before inventory data comes out later this morning.
• BMO's Andrew Busch: A stimulus package of $150B will likely be enacted, with checks mailed out by March.
• From a strict company perspective, there is a broad sense that an Obama presidency would be positive for solar and wind companies.
• Today Treasury said it will resurrect 3-year note, do more auctions of 10-year notes & 30-year bonds to fund the gvnt.’s borrowing needs.
• There was another big pullback in Libor rates overnight, which should help encourage inter-bank lending and help thaw out the credit market freeze.
Small Cap Gainers:
• EnerNOC Inc. rallied 25% today, riding a boost in the energy sector. See (Nasdaq:ENOC).
• Silver Wheaton up 18% after it prioritizes debt reduction, remains bullish on silver. See (NYSE:SLW).
• Dollar Thrifty Auto jumping 18% in pre-market on better-than-expected earnings. See (NYSE:DTG).
• Clinical research organization Kendle International reports record Q3 08 net income; shares up 12.46% in pre-market. See (Nasdaq:KNDL).
Small Cap Losers:
• Clean Energy Fuels Corp. gapped lower and was down 17%, giving back most of the sizable previous three-day rally. See (Nasdaq:CLNE).
• Stone Energy Corp. tumbled 20% tied to earnings news. See (NYSE:SGY).
• i2 Technologies down 27% after JDA Software Group requested an adjournment of ITWO’s shareholder meeting to negotiate a reduced purchase price for the firm. See (Nasdaq:ITWO).
• Ambac Financial Group Inc. is tumbling 26% as quarterly losses were much bigger than expected. See (NYSE:ABK).
About the Author
Read More
(click a star)
Enter comment: