Small-cap stocks shift from high to low; GET, CLWRD, and CIEN lead gainers
Small-caps stocks opened slightly higher, but slipped into negative territory within 25 minutes as the market juggles positive input from commodities against soft financial shares. There is something of a waiting game going on right now in anticipation of the automaker bailout, FOMC Tuesday and wreckage from the multi-billion investor swindle that was revealed late last week. Some of today’s small-cap gainers are Gaylord Entertainment Co. (NYSE:GET), Clearwire Corp. (Nasdaq:CLWRD) and Ciena Corporation (Nasdaq:CIEN).
Other Market Watch highlights today included:
• Crude oil prices were up some $3/barrel into the open, pushing back above the key $50 level ahead of an OPEC meeting later this week.
• Energy markets were on firm footing this morning, which should provide a lift to energy-related stocks.
• European shares were basically flat heading into the U.S. open, but Asian markets were in rally mode overnight.
• Hopes for a quick package to keep U.S. carmakers away from bankruptcy played a big role in overnight gains in Asian trading.
Small Cap Gainers:
• Gaylord Entertainment Co. jumped 37% following a bullish article in Barron’s. See (NYSE:GET).
• Clearwire Corp. rose 17% without any apparent fresh news behind the move. See (Nasdaq:CLWRD).
• Ciena Corporation is up 8.5% in pre-market, recouping some of the drastic losses the stock saw last week after posting an unexpected Q4 loss. See (Nasdaq:CIEN).
• China Sunergy to supply 22MW solar cells to Solarwatt; shares rise 7% in pre-market. See (Nasdaq:CSUN).
Small Cap Losers:
• Huntsman Corp. tumbled 32% on news that the company terminated a takeover deal from a chemical firm. See (NYSE:HUN).
• Universal Truckload Services Inc. slumped 18% giving back a nice rally from last week in one quick downside swoon. See (Nasdaq:UACL).
• Rofin-Sinar Technologies, Inc. falls 12% in pre-market after lowering Q1 2009 revenue guidance. See (Nasdaq:RSTI).
• UAL Corp., parent company of United Airlines, is down over 3% in pre-market, despite raising $150 million on sale leaseback agreement. See (Nasdaq:UAUA).
Other Market Watch highlights today included:
• Crude oil prices were up some $3/barrel into the open, pushing back above the key $50 level ahead of an OPEC meeting later this week.
• Energy markets were on firm footing this morning, which should provide a lift to energy-related stocks.
• European shares were basically flat heading into the U.S. open, but Asian markets were in rally mode overnight.
• Hopes for a quick package to keep U.S. carmakers away from bankruptcy played a big role in overnight gains in Asian trading.
Small Cap Gainers:
• Gaylord Entertainment Co. jumped 37% following a bullish article in Barron’s. See (NYSE:GET).
• Clearwire Corp. rose 17% without any apparent fresh news behind the move. See (Nasdaq:CLWRD).
• Ciena Corporation is up 8.5% in pre-market, recouping some of the drastic losses the stock saw last week after posting an unexpected Q4 loss. See (Nasdaq:CIEN).
• China Sunergy to supply 22MW solar cells to Solarwatt; shares rise 7% in pre-market. See (Nasdaq:CSUN).
Small Cap Losers:
• Huntsman Corp. tumbled 32% on news that the company terminated a takeover deal from a chemical firm. See (NYSE:HUN).
• Universal Truckload Services Inc. slumped 18% giving back a nice rally from last week in one quick downside swoon. See (Nasdaq:UACL).
• Rofin-Sinar Technologies, Inc. falls 12% in pre-market after lowering Q1 2009 revenue guidance. See (Nasdaq:RSTI).
• UAL Corp., parent company of United Airlines, is down over 3% in pre-market, despite raising $150 million on sale leaseback agreement. See (Nasdaq:UAUA).
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