Small-cap stocks open low; ARYX, ATAI, and EVTC lead gainers
Small-cap stocks opened lower, pressured by bleak retail sales data, soft earnings news, a pullback in energy prices, money flow into credit markets and a “breather” mentality after Thursday afternoon’s humongous recovery rally. Today’s small-cap gainers are ARYx Therapeutics Inc. (Nasdaq:ARYX), ATA (Nasdaq:ATAI) and Evotec (Nasdaq:EVTC).
Other Market Watch highlights today included:
• Energy shares were a big positive factor for the market during Thursday’s rally, but were a drag this morning.
• Libor rates edged up again overnight for the second consecutive session, which raises some caution flags among investors about the lending mentality around the world.
• Bernanke: Bank liquidity measures are generating tentative improvements in credit markets; central banks remain ready to act if needed.
• There is also a chance that traders don’t want to be caught short over the weekend just in case the G-20 comes out with some stunning stimulus package.
Small Cap Gainers:
• ARYx Therapeutics Inc. announces $21.6 million private placement; shares pop 41%. See (Nasdaq:ARYX).
• Computer-based testing services provider ATA up 27% after revealing a $5 million share buyback program. See (Nasdaq:ATAI).
• Evotec up 19% as Q3 loss narrows, it lifts FY08 revenue outlook. See (Nasdaq:EVTC). • MYR Group, a specialty contractor serving the electrical infrastructure market in the U.S., is up 18% after reporting Q3 results. See (Nasdaq:MYRG).
• Human Genome Sciences up 4.2% in pre-market despite being downgraded to "neutral" on Tuesday. See (Nasdaq:HGSB).
Small Cap Losers:
• MedCath Corp. tumbled 33% as the health care services provider reported quarterly results. See (Nasdaq:MDTH).
• Ardea Biosciences Inc. fell 27% as the biotech firm also fell on earnings news. See (Nasdaq:RDEA).
• Lasalle Hotel Properties fell 17% as the luxury hotel operator rescinded their previous outlook as results are falling well short of expectations. See (NYSE:LHO).
• Abercrombie & Fitch Co. beats the estimate, but slashes its forecast as well. Shares down over 5%. See (NYSE:ANF).
Other Market Watch highlights today included:
• Energy shares were a big positive factor for the market during Thursday’s rally, but were a drag this morning.
• Libor rates edged up again overnight for the second consecutive session, which raises some caution flags among investors about the lending mentality around the world.
• Bernanke: Bank liquidity measures are generating tentative improvements in credit markets; central banks remain ready to act if needed.
• There is also a chance that traders don’t want to be caught short over the weekend just in case the G-20 comes out with some stunning stimulus package.
Small Cap Gainers:
• ARYx Therapeutics Inc. announces $21.6 million private placement; shares pop 41%. See (Nasdaq:ARYX).
• Computer-based testing services provider ATA up 27% after revealing a $5 million share buyback program. See (Nasdaq:ATAI).
• Evotec up 19% as Q3 loss narrows, it lifts FY08 revenue outlook. See (Nasdaq:EVTC). • MYR Group, a specialty contractor serving the electrical infrastructure market in the U.S., is up 18% after reporting Q3 results. See (Nasdaq:MYRG).
• Human Genome Sciences up 4.2% in pre-market despite being downgraded to "neutral" on Tuesday. See (Nasdaq:HGSB).
Small Cap Losers:
• MedCath Corp. tumbled 33% as the health care services provider reported quarterly results. See (Nasdaq:MDTH).
• Ardea Biosciences Inc. fell 27% as the biotech firm also fell on earnings news. See (Nasdaq:RDEA).
• Lasalle Hotel Properties fell 17% as the luxury hotel operator rescinded their previous outlook as results are falling well short of expectations. See (NYSE:LHO).
• Abercrombie & Fitch Co. beats the estimate, but slashes its forecast as well. Shares down over 5%. See (NYSE:ANF).
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