Small-caps edge higher during mid-day; ALTH, TGY, and EGLE lead gainers
Small-cap stocks rallied into mid-session trading, lifted by a better reading on the country’s sprawling services sector than feared. Additional support was tied to a private employment survey that also was above the worst end of projections, providing some investor calm ahead of Friday’s big monthly Labor Department release on employment. 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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