Russell rises slowly into midday; BSTC, GIII, and ESC lead gainers
Small-cap stocks edged modestly higher into midday, with support from financial, insurance, airline and homebuilder stocks countered by sinking energy and commodity shares. Some of today’s small-cap gainers are BioSpecifics Technologies Corp. (Nasdaq:BSTC), G III Apparel Group Ltd. (Nasdaq:GIII) and Emeritus Corporation (NYSE:ESC).
Other Market Watch highlights today included:
• Financial shares were on the mend today, and there were plenty of small banks near the top of the percentage movers list.
• One immediate beneficiary of the energy price slide should be the airline group; sure enough airlines were among the best performers today.
• The Commodity Research Bureau Index of 19 physical markets was down 1.7% at midday, clearly one of the weakest asset classes in the mix.
• The U.S. dollar staged a big comeback against the euro today, not only wiping out overnight losses, but rising 0.9%.
• Oil and gas drillers & oil equipment services firms are among the worst performers today; the Energy Select Sector SPDR Fund is down 2.6%.
Small Cap Gainers:
• BioSpecifics Technologies Corp. jumped 41% as the biopharma firm announced a licensing agreement with Pfizer Inc. See (Nasdaq:BSTC).
• G III Apparel Group Ltd. jumped 21%, rising above the 20-day moving average for the first time since the third week of October. See (Nasdaq:GIII).
• Emeritus Corporation rose 20%, as the senior facilities living operator climbed above $10 for the first time since early November. See (NYSE:ESC).
• Chindex International Inc. rose 19% as the provider of health care products in China announced an executive pay freeze for 2009. See (Nasdaq:CHDX).
Small Cap Losers:
• Tennant Co. slumped 19% as the safety solutions firm announced restructuring plans amid slower sales. See (NYSE:TNC).
• Central European Media Enterprises Ltd. tumbled 17% as the eastern European network gave back impressive gains from Wednesday in quick fashion. See (Nasdaq:CETV).
• Actuant earnings slashed in first quarter, shares tumble 7%. See (NYSE:ATU).
Other Market Watch highlights today included:
• Financial shares were on the mend today, and there were plenty of small banks near the top of the percentage movers list.
• One immediate beneficiary of the energy price slide should be the airline group; sure enough airlines were among the best performers today.
• The Commodity Research Bureau Index of 19 physical markets was down 1.7% at midday, clearly one of the weakest asset classes in the mix.
• The U.S. dollar staged a big comeback against the euro today, not only wiping out overnight losses, but rising 0.9%.
• Oil and gas drillers & oil equipment services firms are among the worst performers today; the Energy Select Sector SPDR Fund is down 2.6%.
Small Cap Gainers:
• BioSpecifics Technologies Corp. jumped 41% as the biopharma firm announced a licensing agreement with Pfizer Inc. See (Nasdaq:BSTC).
• G III Apparel Group Ltd. jumped 21%, rising above the 20-day moving average for the first time since the third week of October. See (Nasdaq:GIII).
• Emeritus Corporation rose 20%, as the senior facilities living operator climbed above $10 for the first time since early November. See (NYSE:ESC).
• Chindex International Inc. rose 19% as the provider of health care products in China announced an executive pay freeze for 2009. See (Nasdaq:CHDX).
Small Cap Losers:
• Tennant Co. slumped 19% as the safety solutions firm announced restructuring plans amid slower sales. See (NYSE:TNC).
• Central European Media Enterprises Ltd. tumbled 17% as the eastern European network gave back impressive gains from Wednesday in quick fashion. See (Nasdaq:CETV).
• Actuant earnings slashed in first quarter, shares tumble 7%. See (NYSE:ATU).
For access to the full article, you must be a registered member - it's FREE.
Already a member? Please log in below
Not Registered?
Register today and enjoy all that SmallCapInvestor.com has to offer, including:
- Daily small cap stock profiles.
- Intra-day coverage of Russell 2000 companies.
- Research and insights from our analysts.
- Special reports.
