Russell drops on opening; DLM, RCRC, and POZN lead gainers
Small-cap stocks took a dive on the opening, pulled down by slumping technology shares in Europe and in the United States and by a bruising private report on employment which sent shivers through the market ahead of Friday’s big monthly jobs report. Some of today’s small-cap gainers are Del Monte Foods Co. (NYSE:DLM), RC2 Corporation (Nasdaq:RCRC) and POZEN (Nasdaq:POZN).
Other Market Watch highlights today included:
• Physical commodity markets were taking a beating early today, including cocoa and sugar, which were both down more than 3%.
• Crude oil prices were relatively stable early this morning, hovering near Tuesday’s closing levels.
• The ISM Non-Manufacturing Survey came out at 10:00 a.m. ET, with the headline figure at 37.3%, which was way below the forecast of 42.8%.
• Retail sales missed the forecast in the eurozone and a report on services sector activity also disappointed.
Small Cap Gainers:
• Del Monte Foods Co. rallied 15% after the firm topped the earnings forecast and raised guidance. See (NYSE:DLM).
• RC2 Corporation rallied 9% as the toy and collectibles maker pushed back above the 20-day moving average. See (Nasdaq:RCRC).
• POZEN announces positive top line results for its PN 400 Phase 3 trials; shares up 5.5% in pre-market. See (Nasdaq:POZN).
• Geron announces initiation of Phase I clinical trial of vaccine candidate; shares climb 3% in pre-market. See (Nasdaq:GERN).
Small Cap Losers:
• IIVI Inc. was off 15% as the electronics and telecommunications manufacturing company revised guidance downward. See (Nasdaq:IIVI).
• Hawaiian Electric prices 5 million shares at $23/share; down 11% in pre-market. See (NYSE:HE).
• Bucyrus sinks 7.4% in pre-market after completing its purchase of Czech firm, OKD Bastro. See (Nasdaq:BUCY).
• Crocs, Skechers settle patent litigation; CROX down 6% in pre-market, no early matches in SKX. See (Nasdaq:CROX).
Other Market Watch highlights today included:
• Physical commodity markets were taking a beating early today, including cocoa and sugar, which were both down more than 3%.
• Crude oil prices were relatively stable early this morning, hovering near Tuesday’s closing levels.
• The ISM Non-Manufacturing Survey came out at 10:00 a.m. ET, with the headline figure at 37.3%, which was way below the forecast of 42.8%.
• Retail sales missed the forecast in the eurozone and a report on services sector activity also disappointed.
Small Cap Gainers:
• Del Monte Foods Co. rallied 15% after the firm topped the earnings forecast and raised guidance. See (NYSE:DLM).
• RC2 Corporation rallied 9% as the toy and collectibles maker pushed back above the 20-day moving average. See (Nasdaq:RCRC).
• POZEN announces positive top line results for its PN 400 Phase 3 trials; shares up 5.5% in pre-market. See (Nasdaq:POZN).
• Geron announces initiation of Phase I clinical trial of vaccine candidate; shares climb 3% in pre-market. See (Nasdaq:GERN).
Small Cap Losers:
• IIVI Inc. was off 15% as the electronics and telecommunications manufacturing company revised guidance downward. See (Nasdaq:IIVI).
• Hawaiian Electric prices 5 million shares at $23/share; down 11% in pre-market. See (NYSE:HE).
• Bucyrus sinks 7.4% in pre-market after completing its purchase of Czech firm, OKD Bastro. See (Nasdaq:BUCY).
• Crocs, Skechers settle patent litigation; CROX down 6% in pre-market, no early matches in SKX. See (Nasdaq:CROX).
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