Small-cap stocks push high; HSVLY, TTGT, and SNCR lead gainers
Small-cap stocks pushed higher on the opening, maintaining an early gain on a jump in consumer confidence that helped counter absolutely dreadful reports on the housing market. Some of today’s small-cap gainers are Highland Steel & Vanadium Corp. Ltd. (Nasdaq:HSVLY), TechTarget Inc.(Nasdaq:TTGT) and Synchronoss Technologies (Nasdaq:SNCR).
Other Market Watch highlights today included:
• In overnight trading, European shares were slightly firm, but Asia stocks took a hit, with car makers still in the spotlight.
• Despite the gloomy home news, consumer confidence as seen in the Michigan sentiment survey rose to 60.1, better than the forecast of 58.6.
• The truly scary news came from the existing home sales data, which showed sales at an annual rate of 4.49M units, off the 4.93M forecast.
• The new home sales report came in at an annualized rate of 407,000 units, which was below the forecast for 415,000.
Small Cap Gainers:
• Highland Steel & Vanadium Corp. Ltd. jumped 12% and shows promising bottoming action on daily charts as the South African steel maker struggles to recover off the November lows. See (Nasdaq:HSVLY).
• TechTarget Inc. was up nearly 10% as the IT media firm tries to sustain a nice rally off the November lows. See (Nasdaq:TTGT).
• Synchronoss Technologies up 5% following a raised price target last week. See (Nasdaq:SNCR).
• Loral Space and Communications Inc. was up 2.8% trying to recoup some of the big slide Monday. See (Nasdaq:LORL).
Small Cap Losers:
• American Greetings Corp. slumped 21% as the greeting card company took an earnings-related hit. See (NYSE:AM).
• AgFeed Industries dips over 3% on very light volume. See (Nasdaq:FEED).
• The Men's Wearhouse declines 3%, extending Monday's dramatic fall. See (NYSE:MW).
• Krispy Kreme Doughnuts dips on light volume, hovering near a 52-week low of $1.76. See (NYSE:KKD).
Other Market Watch highlights today included:
• In overnight trading, European shares were slightly firm, but Asia stocks took a hit, with car makers still in the spotlight.
• Despite the gloomy home news, consumer confidence as seen in the Michigan sentiment survey rose to 60.1, better than the forecast of 58.6.
• The truly scary news came from the existing home sales data, which showed sales at an annual rate of 4.49M units, off the 4.93M forecast.
• The new home sales report came in at an annualized rate of 407,000 units, which was below the forecast for 415,000.
Small Cap Gainers:
• Highland Steel & Vanadium Corp. Ltd. jumped 12% and shows promising bottoming action on daily charts as the South African steel maker struggles to recover off the November lows. See (Nasdaq:HSVLY).
• TechTarget Inc. was up nearly 10% as the IT media firm tries to sustain a nice rally off the November lows. See (Nasdaq:TTGT).
• Synchronoss Technologies up 5% following a raised price target last week. See (Nasdaq:SNCR).
• Loral Space and Communications Inc. was up 2.8% trying to recoup some of the big slide Monday. See (Nasdaq:LORL).
Small Cap Losers:
• American Greetings Corp. slumped 21% as the greeting card company took an earnings-related hit. See (NYSE:AM).
• AgFeed Industries dips over 3% on very light volume. See (Nasdaq:FEED).
• The Men's Wearhouse declines 3%, extending Monday's dramatic fall. See (NYSE:MW).
• Krispy Kreme Doughnuts dips on light volume, hovering near a 52-week low of $1.76. See (NYSE:KKD).
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