Russell slightly down; VDSI, FFIV, and WVCM lead gainers
Small-cap stocks flashed some surprising upside muscle on the opening, but the initial support from bargain hunting was quickly countered by selling stirred by worries over the sluggish economy, a troubling jobs outlook and sloppy earnings numbers. Today’s small-cap gainers are VASCO Data Security International (Nasdaq:VDSI), F5 Networks (Nasdaq:FFIV) and inSim Technology (Nasdaq:WVCM).
Other Market Watch highlights today include:
• Crude oil prices turned up about $1 a barrel awaiting news from the OPEC meeting, where oil ministers are expected to slash production to offset sinking prices and soft demand.
• The U.S. dollar was on firm footing this morning, which should continue to exert pressure on many commodities markets.
• RealtyTrac estimated that 1 in every 475 homes received a foreclosure filing in September.
• RealtyTrac released a report early this morning saying that foreclosures were up 21% from September 2007 and up a whopping 71% from the third-quarter of last year.
• Most analysts are predicting a sharp rise in unemployment levels in coming months. Greenspan said earlier today that there will be a significant rise in layoffs and unemployment still to come.
Small Cap Gainers:
• VASCO Data Security International surges 30% after reporting third-quarter results that topped Wall Street by a large margin. (Nasdaq:VDSI).
• F5 Networks up 12% after fiscal fourth-quarter earnings beat the Street. See (Nasdaq:FFIV).
• inSIM Technology said it will ensure reliable cellular connections for machine-to-machine devices in Brazil. See (Nasdaq:WVCM).
• GSI Commerce gains after posting a third-quarter net loss that was narrower than expected. See (Nasdaq:GSIC).
Small Cap Losers:
• Braskem SA tumbled 23% on light volume, as the Brazilian petrochemical company joined other Latin American ADRs in the recent tailspin. See (NYSE:BAK).
• Phoenix Technologies Ltd. gapped lower and was down some 27% as the systems software firm released unimpressive quarterly results. See (Nasdaq:PTEC).
• Exelixis said GlaxoSmithKline will not exercise its option to license XL184, which inhibits tumor growth drivers. See (Nasdaq:EXEL).
• Ticketing company Ticketmaster said it would acquire a controlling equity interest in Front Line Management Group. See (Nasdaq:TKTM).
Other Market Watch highlights today include:
• Crude oil prices turned up about $1 a barrel awaiting news from the OPEC meeting, where oil ministers are expected to slash production to offset sinking prices and soft demand.
• The U.S. dollar was on firm footing this morning, which should continue to exert pressure on many commodities markets.
• RealtyTrac estimated that 1 in every 475 homes received a foreclosure filing in September.
• RealtyTrac released a report early this morning saying that foreclosures were up 21% from September 2007 and up a whopping 71% from the third-quarter of last year.
• Most analysts are predicting a sharp rise in unemployment levels in coming months. Greenspan said earlier today that there will be a significant rise in layoffs and unemployment still to come.
Small Cap Gainers:
• VASCO Data Security International surges 30% after reporting third-quarter results that topped Wall Street by a large margin. (Nasdaq:VDSI).
• F5 Networks up 12% after fiscal fourth-quarter earnings beat the Street. See (Nasdaq:FFIV).
• inSIM Technology said it will ensure reliable cellular connections for machine-to-machine devices in Brazil. See (Nasdaq:WVCM).
• GSI Commerce gains after posting a third-quarter net loss that was narrower than expected. See (Nasdaq:GSIC).
Small Cap Losers:
• Braskem SA tumbled 23% on light volume, as the Brazilian petrochemical company joined other Latin American ADRs in the recent tailspin. See (NYSE:BAK).
• Phoenix Technologies Ltd. gapped lower and was down some 27% as the systems software firm released unimpressive quarterly results. See (Nasdaq:PTEC).
• Exelixis said GlaxoSmithKline will not exercise its option to license XL184, which inhibits tumor growth drivers. See (Nasdaq:EXEL).
• Ticketing company Ticketmaster said it would acquire a controlling equity interest in Front Line Management Group. See (Nasdaq:TKTM).
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