Small-cap stocks keep it steady into midday; PODD, DMND, and BLUD lead gainers
Small-cap stocks hovered near steady levels into mid-session trading, up from the morning lows amid optimism over the fiscal stimulus plans that were put into greater detail today by President-elect Obama. The stimulus cheer helped offset gloom over sloppy retail sales from discount giant Wal-Mart, which put an early pall on the morning activity. 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:
• Advancers are leading decliners 1,024 to 764 on the Russell 2000.
• Apparel firms were also under stress, and automakers took a step back today after seeing solid upside moves earlier this week.
• On the downside, hypermarkets and supermarkets were taking a hit (spurred by the WMT news).
• Other areas showing strength included home entertainment software, coal, health care facilities, oil refiners, metal and mining stocks and construction firms.
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:
• Advancers are leading decliners 1,024 to 764 on the Russell 2000.
• Apparel firms were also under stress, and automakers took a step back today after seeing solid upside moves earlier this week.
• On the downside, hypermarkets and supermarkets were taking a hit (spurred by the WMT news).
• Other areas showing strength included home entertainment software, coal, health care facilities, oil refiners, metal and mining stocks and construction firms.
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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