Small-cap stocks continues to be low; REXX, CTCM, and TKTM lead gainers
Small-cap stocks extended the opening slide after Treasury Secretary Henry Paulson suggested that the government’s initial plan to rescue our fragile financial system by scooping up bad debt off the books of financial firms wasn’t that great of an idea after all. A lack of confidence in the rescue plan simply added to existing jitters about the economy and the corporate profit outlook. Today’s small-cap gainers are Rex Energy (Nasdaq:REXX), CTC Media (Nasdaq:CTCM) and Ticketmaster (Nasdaq:TKTM).
Other Market Watch highlights today included:
• Anything currently linked to Russia is trouble; the Russian Stock Exchange closed for 2 days to stem massive selling in Russian equities.
• The U.S. dollar was down mildly against the euro, but absolutely tanking against the Japanese yen, losing some 2.1%.
• Treasury markets rallied as equity markets tumbled, reflecting flight toward “safe haven” outlets and away from stocks.
• Small caps are down neaerly 4% after Paulson said the govt. would scrap the original “rescue” plan, in lieu of a better alternative.
Small Cap Gainers:
• Rex Energy trading up over 10% after clocking a profit in Q3 on Nov. 7. See (Nasdaq:REXX).
• CTC Media reports inducement grant under NASDAQ marketplace rule 4350. Shares up 8.4%. See (Nasdaq:CTCM).
• Ticketmaster Entertainment posts Q3 revenue increase, removes convenience fees for certain concerts. Shares trading up 6% this morning. See (Nasdaq:TKTM).
• FalconStor Software, Inc. up 5% on higher-than-average volume. See (Nasdaq:FALC).
Small Cap Losers:
• Wimm-Bill-Dann Foods OJSC tumbled 24% on news that ratings agency Moody’s downgraded the firm’s debt. See (NYSE:WBD).
• Though crude prices are down, select airlines are struggling. UAL Corp. is down 23%, US Airways is off 20% and Alaska Air is down 7.5%. See (Nasdaq:UAUA), (NYSE:LCC) and (NYSE:ALK).
• Central European Distribution Corp., the largest vodka producer in Poland, tumbled 21%. See (Nasdaq:CEDC).
• Hadera Paper Ltd., an Israeli company that specializes in manufacturing and recycling of paper products, was off 20% after reporting earnings. See (NYSE:AIP).
Other Market Watch highlights today included:
• Anything currently linked to Russia is trouble; the Russian Stock Exchange closed for 2 days to stem massive selling in Russian equities.
• The U.S. dollar was down mildly against the euro, but absolutely tanking against the Japanese yen, losing some 2.1%.
• Treasury markets rallied as equity markets tumbled, reflecting flight toward “safe haven” outlets and away from stocks.
• Small caps are down neaerly 4% after Paulson said the govt. would scrap the original “rescue” plan, in lieu of a better alternative.
Small Cap Gainers:
• Rex Energy trading up over 10% after clocking a profit in Q3 on Nov. 7. See (Nasdaq:REXX).
• CTC Media reports inducement grant under NASDAQ marketplace rule 4350. Shares up 8.4%. See (Nasdaq:CTCM).
• Ticketmaster Entertainment posts Q3 revenue increase, removes convenience fees for certain concerts. Shares trading up 6% this morning. See (Nasdaq:TKTM).
• FalconStor Software, Inc. up 5% on higher-than-average volume. See (Nasdaq:FALC).
Small Cap Losers:
• Wimm-Bill-Dann Foods OJSC tumbled 24% on news that ratings agency Moody’s downgraded the firm’s debt. See (NYSE:WBD).
• Though crude prices are down, select airlines are struggling. UAL Corp. is down 23%, US Airways is off 20% and Alaska Air is down 7.5%. See (Nasdaq:UAUA), (NYSE:LCC) and (NYSE:ALK).
• Central European Distribution Corp., the largest vodka producer in Poland, tumbled 21%. See (Nasdaq:CEDC).
• Hadera Paper Ltd., an Israeli company that specializes in manufacturing and recycling of paper products, was off 20% after reporting earnings. See (NYSE:AIP).
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