Small-cap stocks negative; AMAG, OPTR, and JASO lead gainers
Small-cap stocks pushed higher on the open but slipped back into negative territory about 20 minutes into the session as oversold conditions, bargain hunting and a bounce in downtrodden commodity shares battled with dreary weekly claims data, which showed the latest filings at seven-year highs and continuing claims at 25-year highs. Today’s small-cap gainers are AMAG Pharmaceuticals. (Nasdaq:AMAG), Optimer Pharmaceuticals Inc. (Nasdaq:OPTR) and JA Solar (Nasdaq:JASO).
Other Market Watch highlights today included:
• Overnight, Britain’s sterling tumbled to 6 ½-year lows against the dollar.
• The international trade report came out at the same time as claims and reflected a trade deficit of $56.5 billion, slightly better than the forecast.
• Small-cap stocks pushed higher on the open but slipped back into negative territory about 20 minutes into the session.
• Crude prices were up about $0.40 a barrel ahead of the U.S. stock market open.
• The weekly unemployment claims report came in at 516,000, well ahead of the forecast for 480,000 and at the highest point since Sept. 2001.
Small Cap Gainers:
• AMAG Pharmaceuticals announces Ferumoxytol resubmission designated complete, Class 1 response by the FDA. Shares pop 80% in pre-market. See (Nasdaq:AMAG).
• Optimer Pharmaceuticals Inc. up 13% in pre-market following news on Wednesday that the firm’s antibiotic drug met late-stage trial goals. See (Nasdaq:OPTR).
• JA Solar up 5% in pre-market on very light volume; shares plummeted Wednesday on its Q3 loss, Q4 outlook. See (Nasdaq:JASO).
• Clean Energy Fuels up 4.2% in pre-market ahead of its Q3 earnings release today. See (Nasdaq:CLNE).
Small Cap Losers:
• WellCare Health Plans Inc. tumbled 44%, gapping lower to 52-week lows. See (NYSE:WCG).
• AgFeed Industries, Inc. lowers FY 2008 EPS guidance; shares tank 33% in pre-market. See (Nasdaq:FEED).
• A-Power Energy Generation down 7.21% in pre-market on lower-than-average volume. See (Nasdaq:APWR).
• Sina Q3 profit rises, provides Q4 revenue outlook. Shares are down 5.2% in pre-market on light volume. See (Nasdaq:SINA).
Other Market Watch highlights today included:
• Overnight, Britain’s sterling tumbled to 6 ½-year lows against the dollar.
• The international trade report came out at the same time as claims and reflected a trade deficit of $56.5 billion, slightly better than the forecast.
• Small-cap stocks pushed higher on the open but slipped back into negative territory about 20 minutes into the session.
• Crude prices were up about $0.40 a barrel ahead of the U.S. stock market open.
• The weekly unemployment claims report came in at 516,000, well ahead of the forecast for 480,000 and at the highest point since Sept. 2001.
Small Cap Gainers:
• AMAG Pharmaceuticals announces Ferumoxytol resubmission designated complete, Class 1 response by the FDA. Shares pop 80% in pre-market. See (Nasdaq:AMAG).
• Optimer Pharmaceuticals Inc. up 13% in pre-market following news on Wednesday that the firm’s antibiotic drug met late-stage trial goals. See (Nasdaq:OPTR).
• JA Solar up 5% in pre-market on very light volume; shares plummeted Wednesday on its Q3 loss, Q4 outlook. See (Nasdaq:JASO).
• Clean Energy Fuels up 4.2% in pre-market ahead of its Q3 earnings release today. See (Nasdaq:CLNE).
Small Cap Losers:
• WellCare Health Plans Inc. tumbled 44%, gapping lower to 52-week lows. See (NYSE:WCG).
• AgFeed Industries, Inc. lowers FY 2008 EPS guidance; shares tank 33% in pre-market. See (Nasdaq:FEED).
• A-Power Energy Generation down 7.21% in pre-market on lower-than-average volume. See (Nasdaq:APWR).
• Sina Q3 profit rises, provides Q4 revenue outlook. Shares are down 5.2% in pre-market on light volume. See (Nasdaq:SINA).
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