Small-cap stocks soar; WBD, BGC, and SLG lead gainers
Small-cap stocks soared into mid-session trading, with financial, energy and gold stocks driving an impressive rally to provide confirmation of Friday’s big rally. The market continues to find bullish inspiration on economic advisor appointments by President-elect Obama, who announced his team today in just the second major press conference since he won the presidential vote earlier this month. Some of today’s small-cap gainers are Wimm-Bill-Dann Foods (NYSE:WBD), General Cable Corp. (NYSE:BGC) and SL Green Realty Corp. (NYSE:SLG).
Other Market Watch highlights today included:
• Investment banks, brokerage firms, diverse financial instruments, wireless telecoms, homebuilders, coal, real estate services all higher.
• Gold stocks were seeing huge gains today, boosted by safe haven flows.
• Commodities in general were a big factor in the stock market rise today, supported by a slide in the U.S. dollar against the euro.
• Crude oil prices extended the morning rally into midday, rising some $4 a barrel, which stoked a 5% surge in energy stocks.
Small Cap Gainers:
• Wimm-Bill-Dann Foods OJSC jumped 39% as Russia’s largest dairy company generated a huge bounce off 52-week lows set last week. See (NYSE:WBD).
• General Cable Corp. rallied 36% as the copper, aluminum and fiber optic cable manufacturer rose off last week’s lows with the overall bounce in commodity shares today. See (NYSE:BGC).
• SL Green Realty Corp. jumped 35% as the real estate investment trust embraced the Citigroup bail out plan, as Citigroup is the firm’s biggest tenant. See (NYSE:SLG).
• Dress Barn last week reports increase in Q1 sales, shares are up 10% today. See (Nasdaq:DBRN).
Small Cap Losers:
• Ann Taylor swings to Q3 loss, sees tough Q4. Shares are down 8.7% near a 52-week low of $4.21, down from a 52-week high of $32.82. See (NYSE:ANN).
• China Eastern passenger throughput down 2.72% in October; shares tumble 12%. See (NYSE:CEA).
• Life Time Fitness down another 10% today after the small cap announced last week that it would cute 100 jobs. See (NYSE:LTM).
• Tween Brands is down 18% following last week's announcement of a Q3 sales, earnings drop in "challenging environment." See (NYSE:TWB).
Other Market Watch highlights today included:
• Investment banks, brokerage firms, diverse financial instruments, wireless telecoms, homebuilders, coal, real estate services all higher.
• Gold stocks were seeing huge gains today, boosted by safe haven flows.
• Commodities in general were a big factor in the stock market rise today, supported by a slide in the U.S. dollar against the euro.
• Crude oil prices extended the morning rally into midday, rising some $4 a barrel, which stoked a 5% surge in energy stocks.
Small Cap Gainers:
• Wimm-Bill-Dann Foods OJSC jumped 39% as Russia’s largest dairy company generated a huge bounce off 52-week lows set last week. See (NYSE:WBD).
• General Cable Corp. rallied 36% as the copper, aluminum and fiber optic cable manufacturer rose off last week’s lows with the overall bounce in commodity shares today. See (NYSE:BGC).
• SL Green Realty Corp. jumped 35% as the real estate investment trust embraced the Citigroup bail out plan, as Citigroup is the firm’s biggest tenant. See (NYSE:SLG).
• Dress Barn last week reports increase in Q1 sales, shares are up 10% today. See (Nasdaq:DBRN).
Small Cap Losers:
• Ann Taylor swings to Q3 loss, sees tough Q4. Shares are down 8.7% near a 52-week low of $4.21, down from a 52-week high of $32.82. See (NYSE:ANN).
• China Eastern passenger throughput down 2.72% in October; shares tumble 12%. See (NYSE:CEA).
• Life Time Fitness down another 10% today after the small cap announced last week that it would cute 100 jobs. See (NYSE:LTM).
• Tween Brands is down 18% following last week's announcement of a Q3 sales, earnings drop in "challenging environment." See (NYSE:TWB).
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