Small-cap stocks steady into midday; DRYS, EXM, and EGLE lead gainers
Small-cap stocks were hovering near steady levels into midday trading, drafting off a surprising show of strength in the technology arena and another solid performance from energy and commodity stocks, which helped offset weakness in financial shares. Some of today’s small-cap gainers are DryShips (Nasdaq:DRYS), Excel Maritime (NYSE:EXM) and Eagle Bulk Shipping (Nasdaq:EGLE).
Other Market Watch highlights today included:
• Poorest performers so far today: real estate investment trusts, air freight couriers, food retail firms and railroads.
• Physical commodity markets turned up from a morning slide, bolstered by a pullback in the U.S. dollar.
• Top performers so far today: aluminum, steel, coal, oil and gas drillers, semiconductors, life insurers and automotive retailers.
• Small-cap stocks were hovering near steady levels into midday trading, drafting off a surprising show of strength in the technology arena.
Small Cap Gainers:
• Ocean shippers have been a recurring source of strength this week: Dryships is up 45%, Excel Maritime up 41%, Eagle Bulk up 40% and Genco up 27%. See (Nasdaq:DRYS), (NYSE:EXM), (Nasdaq:EGLE) and (NYSE:GNK).
• Exco Resources Inc. jumped 40% as the oil and natural gas company announced results on the completion of a Louisiana well. See (NYSE:XCO).
• International Assets reports Q4 results; shares pop 23%. See (Nasdaq:IAAC).
• KMG Chemicals up 22% after reporting Q1 results with 145% increase in revenues, reaffirming FY 2009 guidance. See (Nasdaq:KMGB).
Small Cap Losers:
• Pep Boys falls 23% after company posts unexpected Q3 loss. See (NYSE:PBY).
• Buckeye Technologies lowers guidance, cuts production in Florida. Shares tumble 22%. See (NYSE:BKI).
• Universal Stainless & Alloy Products slumped 15% as some steel companies saw a correction off the big rally Monday. See (Nasdaq:USAP).
• Baird downgrades diversified industrial manufacturer Actuant Corp. to "neutral" from "outperform," halves its price target on the stock. Shares fall over 14%. See (NYSE:ATU).
Other Market Watch highlights today included:
• Poorest performers so far today: real estate investment trusts, air freight couriers, food retail firms and railroads.
• Physical commodity markets turned up from a morning slide, bolstered by a pullback in the U.S. dollar.
• Top performers so far today: aluminum, steel, coal, oil and gas drillers, semiconductors, life insurers and automotive retailers.
• Small-cap stocks were hovering near steady levels into midday trading, drafting off a surprising show of strength in the technology arena.
Small Cap Gainers:
• Ocean shippers have been a recurring source of strength this week: Dryships is up 45%, Excel Maritime up 41%, Eagle Bulk up 40% and Genco up 27%. See (Nasdaq:DRYS), (NYSE:EXM), (Nasdaq:EGLE) and (NYSE:GNK).
• Exco Resources Inc. jumped 40% as the oil and natural gas company announced results on the completion of a Louisiana well. See (NYSE:XCO).
• International Assets reports Q4 results; shares pop 23%. See (Nasdaq:IAAC).
• KMG Chemicals up 22% after reporting Q1 results with 145% increase in revenues, reaffirming FY 2009 guidance. See (Nasdaq:KMGB).
Small Cap Losers:
• Pep Boys falls 23% after company posts unexpected Q3 loss. See (NYSE:PBY).
• Buckeye Technologies lowers guidance, cuts production in Florida. Shares tumble 22%. See (NYSE:BKI).
• Universal Stainless & Alloy Products slumped 15% as some steel companies saw a correction off the big rally Monday. See (Nasdaq:USAP).
• Baird downgrades diversified industrial manufacturer Actuant Corp. to "neutral" from "outperform," halves its price target on the stock. Shares fall over 14%. See (NYSE:ATU).
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