Russell sinks back lower on Wednesday's closing; ALTH, TGY, and EGLE lead gainers
Small-cap stocks slipped Wednesday, as an early lift on better-than-feared economic data and firm tech stocks was overshadowed in the afternoon by worries about banks, fretting over delays in the Obama stimulus program and slumping retail stocks. Some of today’s small-cap gainers were Allos Therapeutics Inc. (Nasdaq:ALTH), Tremisis Energy Acquisition Corp. (NYSE:TGY) and Eagle Bulk Shipping Inc. (Nasdaq:EGLE).
Other Market Watch highlights today included:
• Insurance firms, packaged foods companies, entertainment firms, breweries and tobacco stocks were on the slide.
• Looking at sector activity so far, metals and mining stocks were doing well, as were semiconductors, forest products and investment banks.
• Ahead of the opening today, the ADP Employment survey pegged a decline in non-farm payrolls of 522,000.
• The ISM Non-Manufacturing Report came in at 42.9, which was better than the consensus forecast of 39.1
Small Cap Gainers:
• Allos Therapeutics Inc. rose 4.8% on brisk turnover following news Tuesday afternoon that the company plans to submit a new drug application to the FDA in the next few months. See (Nasdaq:ALTH).
• Tremisis Energy Acquisition Corp. was up just 0.8% at midday, but generating quite a spike in volume while approaching the highest point since mid-September. See (NYSE:TGY).
• Bulk shippers wehe percentage mover boards today; Eagle Bulk Shipping Inc. was up nearly 15%, Genco Shipping & Trading Ltd. was up 11%. See (Nasdaq:EGLE) and (NYSE:GNK).
Small Cap Losers:
• Sports Properties Acquisition Corp. was off 0.3% on heavy volume. See (NYSE:HMR).
• Littlefuse Inc. gapped lower and was off 13% as the industrial component maker took an earnings-related hit. See (Nasdaq:LFUS).
• Computer network company Jack Henry & Associates posts 4% Q2 decline, sending shares down 10% in pre-market. See (Nasdaq:JKHY).
Other Market Watch highlights today included:
• Insurance firms, packaged foods companies, entertainment firms, breweries and tobacco stocks were on the slide.
• Looking at sector activity so far, metals and mining stocks were doing well, as were semiconductors, forest products and investment banks.
• Ahead of the opening today, the ADP Employment survey pegged a decline in non-farm payrolls of 522,000.
• The ISM Non-Manufacturing Report came in at 42.9, which was better than the consensus forecast of 39.1
Small Cap Gainers:
• Allos Therapeutics Inc. rose 4.8% on brisk turnover following news Tuesday afternoon that the company plans to submit a new drug application to the FDA in the next few months. See (Nasdaq:ALTH).
• Tremisis Energy Acquisition Corp. was up just 0.8% at midday, but generating quite a spike in volume while approaching the highest point since mid-September. See (NYSE:TGY).
• Bulk shippers wehe percentage mover boards today; Eagle Bulk Shipping Inc. was up nearly 15%, Genco Shipping & Trading Ltd. was up 11%. See (Nasdaq:EGLE) and (NYSE:GNK).
Small Cap Losers:
• Sports Properties Acquisition Corp. was off 0.3% on heavy volume. See (NYSE:HMR).
• Littlefuse Inc. gapped lower and was off 13% as the industrial component maker took an earnings-related hit. See (Nasdaq:LFUS).
• Computer network company Jack Henry & Associates posts 4% Q2 decline, sending shares down 10% in pre-market. See (Nasdaq:JKHY).
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