Small-cap extend morning slide; LINE, NWPX, and BMI lead gainers
Small-cap stocks extended the morning slide into midday action, with losses in financial, homebuilder, technology and retail stocks more than offsetting gains in energy and mining shares. Today's small-cap percentage gainers are Linn Energy LLC (Nasdaq:LINE), Northwest Pipe Co. (Nasdaq:NWPX), and Badger Meter (NYSE:BMI).
Other Market Watch highlights included:
• Although today’s slide in small caps looks ugly from a performance standpoint, it really does very little to alter a relatively tame, sideways chart structure.
• Technology shares failed to gain traction, even though tech stocks were decent performers overnight in Asia on a burst of M&A activity.
• Ongoing concerns about the economy and credit crunch weighed on financial and bank stocks, with small banks and financial firms dominating the list of percentage losers.
• Losses in financial, homebuilder, technology and retail stocks were more than offsetting gains in energy and mining shares.
Small Cap Gainers:
• Linn Energy LLC gapped higher and was showing a gain of 19% after a bullish article in Barron’s. See (Nasdaq:LINE).
• Northwest Pipe Co., which makes welded steel pipes, was up 13.2% to $37.65. See (Nasdaq:NWPX).
• Flow-measurement product maker Badger Meter up 11% to $33.64. See (NYSE:BMI)
• BPZ Resources, formerly known as BPZ Energy, up 10.5% to $5.39 after announcing increases in oil reserves at the Corvina Field. See (NYSE:BPZ)
Small Cap Losers:
• Among today's other 52-wk lows: Skilled Healthcare Group, Minerals Technologies Inc. and Dionex Corp. See (NYSE:SKH, NYSE:MTX, and Nasdaq:DNEX)
• Real estate investment trust Macerich Company down 15% to $17.23. See (NYSE:MAC).
• Riverbed Technology, Inc. down 13% to $9.93 after Wedbush Morgan downgrade to "Hold" from "Buy" See(Nasdaq:RVBD)
• ATC Technology Corp., a vehicle remanufacturing and logistics company, hit a new year-low of $12.37. See (Nasdaq:ATAC)
Other Market Watch highlights included:
• Although today’s slide in small caps looks ugly from a performance standpoint, it really does very little to alter a relatively tame, sideways chart structure.
• Technology shares failed to gain traction, even though tech stocks were decent performers overnight in Asia on a burst of M&A activity.
• Ongoing concerns about the economy and credit crunch weighed on financial and bank stocks, with small banks and financial firms dominating the list of percentage losers.
• Losses in financial, homebuilder, technology and retail stocks were more than offsetting gains in energy and mining shares.
Small Cap Gainers:
• Linn Energy LLC gapped higher and was showing a gain of 19% after a bullish article in Barron’s. See (Nasdaq:LINE).
• Northwest Pipe Co., which makes welded steel pipes, was up 13.2% to $37.65. See (Nasdaq:NWPX).
• Flow-measurement product maker Badger Meter up 11% to $33.64. See (NYSE:BMI)
• BPZ Resources, formerly known as BPZ Energy, up 10.5% to $5.39 after announcing increases in oil reserves at the Corvina Field. See (NYSE:BPZ)
Small Cap Losers:
• Among today's other 52-wk lows: Skilled Healthcare Group, Minerals Technologies Inc. and Dionex Corp. See (NYSE:SKH, NYSE:MTX, and Nasdaq:DNEX)
• Real estate investment trust Macerich Company down 15% to $17.23. See (NYSE:MAC).
• Riverbed Technology, Inc. down 13% to $9.93 after Wedbush Morgan downgrade to "Hold" from "Buy" See(Nasdaq:RVBD)
• ATC Technology Corp., a vehicle remanufacturing and logistics company, hit a new year-low of $12.37. See (Nasdaq:ATAC)
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