Russell continues morning dive; POZN, OSIS, and SEPR lead gainers
Small-cap stocks extended the morning slide into midday trading, as a fresh run of economic data this morning suggested that the economic recession is darkening. Selling interest was heightened by a bevy of awful corporate profit reports, shuffling the previous four days of rallies into the background. Some of today’s small-cap gainers were POZEN (Nasdaq:POZN), OSI Systems Inc. (Nasdaq:OSIS) and Sepracor (Nasdaq:SEPR).
Other Market Watch highlights today included:
• The chart picture took a sudden turn for the worse today, unable to sustain Wednesday’s breakout through the recent trading range highs.
• Energy shares fell 2.4% as the crude oil market saw the weak economic data and fretted anew about demand destruction in a global recession.
• Gold shares were mildly higher, but just barely, with the Gold and Silver Index rising about 2%.
• As you might expect given dreadful home sales numbers & historically high unemployment rolls, homebuilder stocks were getting bruised today. J
• This morning’s weekly claims report showed that more Americans are now drawing unemployment insurance than at any point in history.
Small Cap Gainers:
• POZEN informed by FDA that endoscopic gastric ulcer incidence continues to be an acceptable primary endpoint; shares climb 17% in pre-market. See (Nasdaq:POZN).
• OSI Systems Inc. rose 16% as the electronics system designer received an earnings lift. See (Nasdaq:OSIS).
• Sepracor rises 10% in pre-market to cut workforce despite rise in profit. See (Nasdaq:SEPR)
Small Cap Losers:
• Online futures and options broker optionsXpress Holdings Inc. fell 14% after reporting earnings. See (Nasdaq:OXPS).
• SurModics Inc. gapped lower and shed nearly 20% as the medical products company took an earnings related hit. See (Nasdaq:SRDX).
• Inter Parfums Inc. tumbled 23%, wiping out solid recent gains in the process. See (Nasdaq:IPAR).
• The ISE Homebuilders Index is down 5.7%; small-cap builders Centex Corp. off 5% and Meritage Homes Corp. down 12%. See (NYSE:CTX) and (NYSE:MTH).
Other Market Watch highlights today included:
• The chart picture took a sudden turn for the worse today, unable to sustain Wednesday’s breakout through the recent trading range highs.
• Energy shares fell 2.4% as the crude oil market saw the weak economic data and fretted anew about demand destruction in a global recession.
• Gold shares were mildly higher, but just barely, with the Gold and Silver Index rising about 2%.
• As you might expect given dreadful home sales numbers & historically high unemployment rolls, homebuilder stocks were getting bruised today. J
• This morning’s weekly claims report showed that more Americans are now drawing unemployment insurance than at any point in history.
Small Cap Gainers:
• POZEN informed by FDA that endoscopic gastric ulcer incidence continues to be an acceptable primary endpoint; shares climb 17% in pre-market. See (Nasdaq:POZN).
• OSI Systems Inc. rose 16% as the electronics system designer received an earnings lift. See (Nasdaq:OSIS).
• Sepracor rises 10% in pre-market to cut workforce despite rise in profit. See (Nasdaq:SEPR)
Small Cap Losers:
• Online futures and options broker optionsXpress Holdings Inc. fell 14% after reporting earnings. See (Nasdaq:OXPS).
• SurModics Inc. gapped lower and shed nearly 20% as the medical products company took an earnings related hit. See (Nasdaq:SRDX).
• Inter Parfums Inc. tumbled 23%, wiping out solid recent gains in the process. See (Nasdaq:IPAR).
• The ISE Homebuilders Index is down 5.7%; small-cap builders Centex Corp. off 5% and Meritage Homes Corp. down 12%. See (NYSE:CTX) and (NYSE:MTH).
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