Small-cap stocks start out weak; APWR, ALDN, and HOLX
Small-cap stocks edged lower in a fairly weak start to this week’s trading, pulled down by worries about corporate profits as we enter the unofficial start of earnings season this afternoon. Energy and commodity stocks were a source of worry early today as crude oil futures extended the recent slide. Some of today’s small-cap gainers are A-Power (Nasdaq:APWR), Aladdin Knowledge Systems (Nasdaq:ALDN) and Hologic (Nasdaq:HOLX).
Other Market Watch highlights today included:
• Overseas markets were lower coming into today’s session, which likely weighed on the market as well.
• The dollar was firm against the euro this morning, which could also weigh on other commodity markets and stocks with close ties to physical markets.
• Crude oil prices tumbled more than $2 a barrel into the U.S. stock market opening, which could pull down energy stocks.
• U.S. markets took a hit on Friday; today is relatively quiet before we get a flood of economic data later this week.
• The Russian ruble fell to the lowest point in more than five years and the IMF warned that western Europe was behind the curve on implementing stimulus plans.
Small Cap Gainers:
• GE joins with A-Power on wind turbine gearbox equipment; shares of A-Power rise 21%. See (Nasdaq:APWR)
• Aladdin Knowledge Systems agrees to buyout at 20% premium; shares rise 14%. See (Nasdaq:ALDN).
• Hologic Q1 profit view above estimates, shares up 14.5%. See (Nasdaq:HOLX).
• Q4 revenues up at Carrols Restaurant Group; shares rise 10%. See (Nasdaq:TAST).
Small Cap Losers:
• Cleaning and maintenance solutions firm Zep, Inc. down 22% after reporting Q1 results last week. See (NYSE:ZEP).
• Patriot to shutter Jupiter mine in West Virginia; shares drop over 18%. See (NYSE:PCX).
• Spartech Corporation down 13% on lower-than-average volume. See (NYSE:SEH).
• Simcere Pharmaceutical Group announces preliminary full-year revenue and earnings; shares trade 10% lower. See (NYSE:SCR).
Other Market Watch highlights today included:
• Overseas markets were lower coming into today’s session, which likely weighed on the market as well.
• The dollar was firm against the euro this morning, which could also weigh on other commodity markets and stocks with close ties to physical markets.
• Crude oil prices tumbled more than $2 a barrel into the U.S. stock market opening, which could pull down energy stocks.
• U.S. markets took a hit on Friday; today is relatively quiet before we get a flood of economic data later this week.
• The Russian ruble fell to the lowest point in more than five years and the IMF warned that western Europe was behind the curve on implementing stimulus plans.
Small Cap Gainers:
• GE joins with A-Power on wind turbine gearbox equipment; shares of A-Power rise 21%. See (Nasdaq:APWR)
• Aladdin Knowledge Systems agrees to buyout at 20% premium; shares rise 14%. See (Nasdaq:ALDN).
• Hologic Q1 profit view above estimates, shares up 14.5%. See (Nasdaq:HOLX).
• Q4 revenues up at Carrols Restaurant Group; shares rise 10%. See (Nasdaq:TAST).
Small Cap Losers:
• Cleaning and maintenance solutions firm Zep, Inc. down 22% after reporting Q1 results last week. See (NYSE:ZEP).
• Patriot to shutter Jupiter mine in West Virginia; shares drop over 18%. See (NYSE:PCX).
• Spartech Corporation down 13% on lower-than-average volume. See (NYSE:SEH).
• Simcere Pharmaceutical Group announces preliminary full-year revenue and earnings; shares trade 10% lower. See (NYSE:SCR).
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