Russell opens low Thursday morning; PODD, DMND, and BLUD lead gainers
Small-cap stocks pushed lower this morning, pulled down by renewed worries about consumer spending after the world’s largest retailer posted disappointing December sales. In addition, tech stocks and commodities were on the defensive this morning following losses in overseas trading. Some of today’s small-cap gainers are Insulet Corporation (Nasdaq:PODD), Diamond Foods Inc. (Nasdaq:DMND) and Immucor Inc. (Nasdaq:BLUD).
Other Market Watch highlights today included:
• Tech stocks and commodities were on the defensive this morning following losses in overseas trading.
• Small-cap stocks pushed lower this morning, pulled down by renewed worries about consumer spending after the world’s largest retailer posted disappointing December sales.
• The Dow was expected to open down 90 points, while the Russell 2000 was seen down 0.7%, near 493.50.
• Crude oil stabilized after Wednesday’s 12% hit, but other commodities were down, which could weigh on companies involved in mining and other raw goods businesses.
Small Cap Gainers:
• Medical device maker Insulet Corporation is up 12.3% to $9.77 after an upgrade by Canaccord Adams. (See Nasdaq:PODD)
• Snack company Diamond Foods Inc. is up 9.8% to $20.42 after an upgrade by BMO Capital Markets. (See Nasdaq:DMND)
• Blood-testing equipment maker Immucor Inc. is up 6.8% in pre-market trading to $25.10 after reporting a 7% gain in Q2 profits after the close Wed. (See Nasdaq:BLUD)
• Shares in Dutch biotechnology firm Crucell were up 6.9% to $21.92 in pre-market trading after news it is in talks with Wyeth.
Small Cap Losers:
• Construction and lifting equipment maker Manitowoc Co. is down 13.2% to $8.25 after narrowing its FY2008 profit estimate toward the low end of previous guidance. (See NYSE:MTW)
• J. Crew Group Inc. is down 17.5% to $9.65 after announcing before the opening that it now expects to report a loss in Q4, versus previous expectations for a profit. (See NYSE:JCG)
• Ulta Salon, Cosmetics & Fragrance, Inc. was down 22.4% to $6.81 shortly after the opening. (See Nasdaq:ULTA)
• Restaurant chain Sonic Corp. last night reported a 47.5% drop in profit for Q1. Shares are down 10.4% to $10.22 in pre-market trading. (See Nasdaq:SONC)
Other Market Watch highlights today included:
• Tech stocks and commodities were on the defensive this morning following losses in overseas trading.
• Small-cap stocks pushed lower this morning, pulled down by renewed worries about consumer spending after the world’s largest retailer posted disappointing December sales.
• The Dow was expected to open down 90 points, while the Russell 2000 was seen down 0.7%, near 493.50.
• Crude oil stabilized after Wednesday’s 12% hit, but other commodities were down, which could weigh on companies involved in mining and other raw goods businesses.
Small Cap Gainers:
• Medical device maker Insulet Corporation is up 12.3% to $9.77 after an upgrade by Canaccord Adams. (See Nasdaq:PODD)
• Snack company Diamond Foods Inc. is up 9.8% to $20.42 after an upgrade by BMO Capital Markets. (See Nasdaq:DMND)
• Blood-testing equipment maker Immucor Inc. is up 6.8% in pre-market trading to $25.10 after reporting a 7% gain in Q2 profits after the close Wed. (See Nasdaq:BLUD)
• Shares in Dutch biotechnology firm Crucell were up 6.9% to $21.92 in pre-market trading after news it is in talks with Wyeth.
Small Cap Losers:
• Construction and lifting equipment maker Manitowoc Co. is down 13.2% to $8.25 after narrowing its FY2008 profit estimate toward the low end of previous guidance. (See NYSE:MTW)
• J. Crew Group Inc. is down 17.5% to $9.65 after announcing before the opening that it now expects to report a loss in Q4, versus previous expectations for a profit. (See NYSE:JCG)
• Ulta Salon, Cosmetics & Fragrance, Inc. was down 22.4% to $6.81 shortly after the opening. (See Nasdaq:ULTA)
• Restaurant chain Sonic Corp. last night reported a 47.5% drop in profit for Q1. Shares are down 10.4% to $10.22 in pre-market trading. (See Nasdaq:SONC)
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