Russell flickering in red and green; LTM, FCCE, and NUAN lead gainers
Small-cap stocks pushed higher on the opening but slipped briefly into negative territory as optimism over a new government plan to open credit facilities for mortgage assets and “consumer” loan assets was countered by soft economic reports. The credit news helped the market strive to look past a predictably weak GDP report and a report that said home price declines posted a record decline from year-ago levels. Some of today’s small-cap gainers are Life Time Fitness Inc. (NYSE:LTM), Futures Canada China Environment Inc. (Nasdaq:FCCE) and Nuance Communications (Nasdaq:NUAN).
Other Market Watch highlights today included:
• Crude oil prices were off about $2 a barrel shortly after the stock market opening, absorbing a mild pullback off the big 9% surge Monday.
• Treasury yields were taking a big downside hit even while the stock market was pointing toward a strongly higher open.
• The Case-Shiller Home Price Index tumbled a record 17.4% from last year and the index was down 1.9% in September from the previous month.
• The Fed and Treasury announced a new TAL, which will be granted initial funding of $20B via the original $700B in TARP money.
Small Cap Gainers:
• Life Time Fitness Inc. rose 33%, gapping higher after plunging to 52-week lows Monday. See (NYSE:LTM).
• Futures Canada China Environment Inc. jumped 33% on extremely light volume (only 1,000 shares). See (Nasdaq:FCCE).
• Nuance Communications Q4 earnings beats Street view, shares up 12%. See (Nasdaq:NUAN).
• Brinker International climbs over 10% after analyst upgrade company to "strong buy" froM "market perform." See (NYSE:EAT).
Small Cap Losers:
• Zale Corp. was down 25% as the jeweler reported a larger-than-expected loss. See (NYSE:ZLC).
• SkillSoft dips 13% after guiding below fourth-quarter estimates. See (Nasdaq:SKIL).
• Penson Worldwide down 9% on light volume in pre-market, following news it will expand its senior managment team. See (Nasdaq:PNSN).
• United Natural Foods down 2% in pre-market after reporting a drop in Q1 profit. See (Nasdaq:UNFI).
Other Market Watch highlights today included:
• Crude oil prices were off about $2 a barrel shortly after the stock market opening, absorbing a mild pullback off the big 9% surge Monday.
• Treasury yields were taking a big downside hit even while the stock market was pointing toward a strongly higher open.
• The Case-Shiller Home Price Index tumbled a record 17.4% from last year and the index was down 1.9% in September from the previous month.
• The Fed and Treasury announced a new TAL, which will be granted initial funding of $20B via the original $700B in TARP money.
Small Cap Gainers:
• Life Time Fitness Inc. rose 33%, gapping higher after plunging to 52-week lows Monday. See (NYSE:LTM).
• Futures Canada China Environment Inc. jumped 33% on extremely light volume (only 1,000 shares). See (Nasdaq:FCCE).
• Nuance Communications Q4 earnings beats Street view, shares up 12%. See (Nasdaq:NUAN).
• Brinker International climbs over 10% after analyst upgrade company to "strong buy" froM "market perform." See (NYSE:EAT).
Small Cap Losers:
• Zale Corp. was down 25% as the jeweler reported a larger-than-expected loss. See (NYSE:ZLC).
• SkillSoft dips 13% after guiding below fourth-quarter estimates. See (Nasdaq:SKIL).
• Penson Worldwide down 9% on light volume in pre-market, following news it will expand its senior managment team. See (Nasdaq:PNSN).
• United Natural Foods down 2% in pre-market after reporting a drop in Q1 profit. See (Nasdaq:UNFI).
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