Russell remains high into midday; LOPE, CHG, and GNK lead gainers
Small-cap stocks remained higher into midday trading, with retailer, airline and technology shares leading the way in quiet pre-holiday activity. Today's small-cap percentage gainers are: National CineMedia Inc. (Nasdaq:LOPE), Synta Pharma (NYSE:CHG), and Genco Shipping & Trading Ltd.(NYSE:GNK).
Other Market Watch highlights included:
• Advancers are leading decliners on the Russell 2000 by 1,261 to 496. Nearly 60 companies are unchanged. Dec 31, 2008 11:17am
• Small-caps edged higher in early trading, lifted in very light pre-holiday activity by the bullish surprise on weekly claims and mild support from gains in overseas trading. Dec 31, 2008 10:02am
• The Russell 2000 chart reflects a market stuck in a consolidation range, but the quick bounce off key short-term support near 461 was a promising development. Dec 31, 2008 8:45am
• Stock index futures had a brief, mild upside pop on the claims report, but the move seemed muted relative to the surprise element of the news.
Small Cap Gainers:
•In-theater advertising seller National CineMedia Inc. is up 12% to $10.11. (See Nasdaq:NCMI)
•Synta Pharma continued to rise after Tuesday's announcement that it entered into a pact with Roche. Shares are up 13% to $6.45. (See Nasdaq:SNTA)
• Genco Shipping & Trading Ltd. is up 16.4% to $14.72. On Tuesday the company said it has taken delivery of a new ship chartered by Cargill International. (See NYSE:GNK)
Small Cap Losers:
• Nalco Holding Co. is down 20% to $11.21 after topping the list of biggest percentage gainers on the NYSE at the close Tuesday. (See NYSE:NLC)
• VeriFone Holdings is down 10% to $5.02. After Tuesday's close, the company said it will file its annual report with the SEC late as it assesses changes. (See NYSE:PAY)
• Peapack-Gladstone Financial Corp. is down 8% to $26.27 after reporting late Tuesday it is likely to take a material impairment charge in Q4. (See NYSE:PGC)
• Ceradyne Inc. is down 5.7% to $19.43 after Morgan Joseph downgraded the technical ceramics products maker to "Hold" from "Buy." (See NYSE:CRDN)
Other Market Watch highlights included:
• Advancers are leading decliners on the Russell 2000 by 1,261 to 496. Nearly 60 companies are unchanged. Dec 31, 2008 11:17am
• Small-caps edged higher in early trading, lifted in very light pre-holiday activity by the bullish surprise on weekly claims and mild support from gains in overseas trading. Dec 31, 2008 10:02am
• The Russell 2000 chart reflects a market stuck in a consolidation range, but the quick bounce off key short-term support near 461 was a promising development. Dec 31, 2008 8:45am
• Stock index futures had a brief, mild upside pop on the claims report, but the move seemed muted relative to the surprise element of the news.
Small Cap Gainers:
•In-theater advertising seller National CineMedia Inc. is up 12% to $10.11. (See Nasdaq:NCMI)
•Synta Pharma continued to rise after Tuesday's announcement that it entered into a pact with Roche. Shares are up 13% to $6.45. (See Nasdaq:SNTA)
• Genco Shipping & Trading Ltd. is up 16.4% to $14.72. On Tuesday the company said it has taken delivery of a new ship chartered by Cargill International. (See NYSE:GNK)
Small Cap Losers:
• Nalco Holding Co. is down 20% to $11.21 after topping the list of biggest percentage gainers on the NYSE at the close Tuesday. (See NYSE:NLC)
• VeriFone Holdings is down 10% to $5.02. After Tuesday's close, the company said it will file its annual report with the SEC late as it assesses changes. (See NYSE:PAY)
• Peapack-Gladstone Financial Corp. is down 8% to $26.27 after reporting late Tuesday it is likely to take a material impairment charge in Q4. (See NYSE:PGC)
• Ceradyne Inc. is down 5.7% to $19.43 after Morgan Joseph downgraded the technical ceramics products maker to "Hold" from "Buy." (See NYSE:CRDN)
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