Small-cap stocks remain negative; RUS, CCO, and HPT lead gainers
Small-cap stocks remained in negative territory into mid-session, pressured by worries about corporate profitability in a sluggish economic environment around the world. Today’s small-cap gainers are Russ Berrie (NYSE:RUS), Clear Channel Outdoor (NYSE:CCO) and Hospitality Properties Trust (NYSE:HPT).
Other Market Watch highlights today included:
• As for the insurers, analysts at Goldman Sachs lowered ratings on the group and the S&P Insurance Index was down 6% at midday.
• Real estate services are getting hammered today, as are tire, rubber and automobile manufacturers, wireless telecoms and insurance stocks.
• The only area showing decent strength is agriculture products.
• Crude oil prices tumbled to 20-month lows today, slipping below $59 a barrel, which kept energy and commodity stocks on the defensive.
• Credit futures are near contract highs, with European bond futures making contract highs today, which shows that money flow is into credit instruments, not equities.
Small Cap Gainers:
• Russ Berrie reports Q3 results; shares pop 30%. See (NYSE:RUS).
• Clear Channel Outdoor Holdings up 25% despite being downgraded to "market perform." See (NYSE:CCO).
• Hospitality Properties Trust reported solid third-quarter earnings and rose 16%. See (NYSE:HPT).
• MGIC Investment Corp. up 12% in lower-than-average volume. See (NYSE:MTG).
• Hill International up 9% after being honored as "Construction Management Firm of the Year" by the Developers & Builders Alliance. See (NYSE:HIL).
Small Cap Losers:
• Bidz.com Inc. shed 35% after the online retailer slashed the full-year outlook, a numbing concept into the key holiday shopping season. See (Nasdaq:BIDZ).
• Stillwater Mining warns it will not break even on PGM mining without operational changes; shares dive 30%. See (NYSE:SWC).
• PHH Corp. on Monday reported a wider Q3 loss; shares still reeling, down 25% today. See (NYSE:PHH).
• Strategic Hotels reports net loss last week, shares down 9% today. See (NYSE:BEE).
Other Market Watch highlights today included:
• As for the insurers, analysts at Goldman Sachs lowered ratings on the group and the S&P Insurance Index was down 6% at midday.
• Real estate services are getting hammered today, as are tire, rubber and automobile manufacturers, wireless telecoms and insurance stocks.
• The only area showing decent strength is agriculture products.
• Crude oil prices tumbled to 20-month lows today, slipping below $59 a barrel, which kept energy and commodity stocks on the defensive.
• Credit futures are near contract highs, with European bond futures making contract highs today, which shows that money flow is into credit instruments, not equities.
Small Cap Gainers:
• Russ Berrie reports Q3 results; shares pop 30%. See (NYSE:RUS).
• Clear Channel Outdoor Holdings up 25% despite being downgraded to "market perform." See (NYSE:CCO).
• Hospitality Properties Trust reported solid third-quarter earnings and rose 16%. See (NYSE:HPT).
• MGIC Investment Corp. up 12% in lower-than-average volume. See (NYSE:MTG).
• Hill International up 9% after being honored as "Construction Management Firm of the Year" by the Developers & Builders Alliance. See (NYSE:HIL).
Small Cap Losers:
• Bidz.com Inc. shed 35% after the online retailer slashed the full-year outlook, a numbing concept into the key holiday shopping season. See (Nasdaq:BIDZ).
• Stillwater Mining warns it will not break even on PGM mining without operational changes; shares dive 30%. See (NYSE:SWC).
• PHH Corp. on Monday reported a wider Q3 loss; shares still reeling, down 25% today. See (NYSE:PHH).
• Strategic Hotels reports net loss last week, shares down 9% today. See (NYSE:BEE).
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