Small-cap stocks chop back and forth; SLAB, SVVS, and ODSY lead gainers
Small-cap stocks chopped back and forth near steady levels in a relatively calm open, as support from gains in equity markets around the world were countered by mild profit-taking from short-term traders who caught the rally from Tuesday afternoon and weren’t willing to hold that risk through the big FOMC event later today. Today’s small-cap gainers are Silicon Labs (Nasdaq:SLAB), Savvis Inc. (Nasdaq:SVVS) and Odyessey HealthCare Inc. (Nasdaq:ODSY).
Other Market Watch highlights today included:
• Part of the rally in commodities was tied to a pullback in the U.S. dollar, as higher dollar values can hinder demand for goods priced in dollar terms.
• Also on the commodities front, copper was sharply higher, sugar and coffee were up, grains were called sharply higher, and gold and silver were up overnight.
• Energy shares were a big part of Wednesday’s epic stock market rally and could be a firm element in play again today.
• Crude oil futures were in rally mode this morning, climbing some $4 a barrel on hopes that all these global rate cuts would bolster demand and put a foundation on sinking prices.
• Small-cap stocks chopped back and forth near steady levels in a relatively calm open, in anticipation of the upcoming FOMC news.
Small Cap Gainers:
• Silicon Labs said Q3 revenue rose 29%, but was a shade lower than the Street. EPS jumped 50% and clocked in above Street. (Nasdaq:SLAB).
• SAVVIS Inc. jumped 26% as the IT infrastructure services provider reported a 15% rise in revenue and a net loss of $0.01 a share. See (Nasdaq:SVVS).
• Odyessey HealthCare Inc. is up 24% as net patient service revenue jumped 65%. See (Nasdaq:ODSY).
• ClickSoftware reports global reseller agreement with SAP, up 10%. See (Nasdaq:CKSW).
Small Cap Losers:
• Wright Express substantially lowers Q4 and full year guidance below the Street on fuel-price-related derivatives. See (NYSE:WXS).
• CTS Corp. posts lower Q3 EPS, but EPS still beat the Street. Revenues declined from last year and missed estimates. See (NYSE:CTS).
• KeyBanc Capital and Needham downgrade Ultimate Software to hold from buy. See (Nasdaq:ULTI).
• VistaPrint plunges after cutting 2009 outlook, ThinkPanmure cuts rating to accumulate from buy. See (Nasdaq:VPRT).
Other Market Watch highlights today included:
• Part of the rally in commodities was tied to a pullback in the U.S. dollar, as higher dollar values can hinder demand for goods priced in dollar terms.
• Also on the commodities front, copper was sharply higher, sugar and coffee were up, grains were called sharply higher, and gold and silver were up overnight.
• Energy shares were a big part of Wednesday’s epic stock market rally and could be a firm element in play again today.
• Crude oil futures were in rally mode this morning, climbing some $4 a barrel on hopes that all these global rate cuts would bolster demand and put a foundation on sinking prices.
• Small-cap stocks chopped back and forth near steady levels in a relatively calm open, in anticipation of the upcoming FOMC news.
Small Cap Gainers:
• Silicon Labs said Q3 revenue rose 29%, but was a shade lower than the Street. EPS jumped 50% and clocked in above Street. (Nasdaq:SLAB).
• SAVVIS Inc. jumped 26% as the IT infrastructure services provider reported a 15% rise in revenue and a net loss of $0.01 a share. See (Nasdaq:SVVS).
• Odyessey HealthCare Inc. is up 24% as net patient service revenue jumped 65%. See (Nasdaq:ODSY).
• ClickSoftware reports global reseller agreement with SAP, up 10%. See (Nasdaq:CKSW).
Small Cap Losers:
• Wright Express substantially lowers Q4 and full year guidance below the Street on fuel-price-related derivatives. See (NYSE:WXS).
• CTS Corp. posts lower Q3 EPS, but EPS still beat the Street. Revenues declined from last year and missed estimates. See (NYSE:CTS).
• KeyBanc Capital and Needham downgrade Ultimate Software to hold from buy. See (Nasdaq:ULTI).
• VistaPrint plunges after cutting 2009 outlook, ThinkPanmure cuts rating to accumulate from buy. See (Nasdaq:VPRT).
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