Small-cap stocks down; HXL, JAKK, and OCNF lead gainers
Small-cap stocks gave back a sizable chunk of Monday’s big rally early on today, pressured by concerns that corporate profits are already sloppy and will be further strained by a weak economy going forward. Today’s small-cap gainers are Hexcel (NYSE:HXL), Jakks Pacific (Nasdaq:JAKK) and Drybulk (NYSE:OCNF).
Other Market Watch highlights today included:
• Pharma could be one of the better-performing sectors to watch today, and has seen a few strong performers in the small-cap arena in recent days as well.
• Commodities in general were likely to be on the defensive as the U.S. dollar was soaring against the euro, climbing 1.25%.
• The lift small caps enjoyed Monday from the energy sector appeared on the wane today, with crude oil prices slipping on concerns about demand
• With no economic reports on tap today, the market will focus on the wave of quarterly earnings coming in.
Small Cap Gainers:
• Hexcel reported third-quarter profit that surged 91% on sales for defense programs and wind turbine blades. See (NYSE:HXL).
• Jakks Pacific reports 14% increase in Q3 bottom-line on tax benefit and higher sales, reaffirmed full-year guidance. See (Nasdaq:JAKK).
• OptionsXpress posts Q3 net income that beat the Street, but edged down from a year-ago. See (Nasdaq:OXPS).
• JDA Software Group posts third-quarter results that handily beat the Street. See (Nasdaq:JDAS).
• Drybulk shipper OceanFreight declares $0.77 dividend for Q3, shares jump 21%. See (Nasdaq:OCNF).
Small Cap Losers:
• Highveld Steel & Vanadium Corporation Ltd. is down 15% to fresh move lows. See (Nasdaq:HSVLY).
• Avigen plunges 70% after intermediate trial for treatment of spasticity associated with multiple sclerosis failed. See (Nasdaq:AVGN).
• Net Servicos de Comunicacao saw the top-line increase on lower subscription rates, operating costs jumped 26%, SG&A increased 37%. (Nasdaq:NETC).
• ENGlobal expects to report Q3 results below the consensus on Wall Street. See (NYSE:ENG).
• Twin Disc said fiscal Q1 earnings plunged due to lower volumes, unfavorable product mix and higher material costs. See (Nasdaq:TWIN).
Other Market Watch highlights today included:
• Pharma could be one of the better-performing sectors to watch today, and has seen a few strong performers in the small-cap arena in recent days as well.
• Commodities in general were likely to be on the defensive as the U.S. dollar was soaring against the euro, climbing 1.25%.
• The lift small caps enjoyed Monday from the energy sector appeared on the wane today, with crude oil prices slipping on concerns about demand
• With no economic reports on tap today, the market will focus on the wave of quarterly earnings coming in.
Small Cap Gainers:
• Hexcel reported third-quarter profit that surged 91% on sales for defense programs and wind turbine blades. See (NYSE:HXL).
• Jakks Pacific reports 14% increase in Q3 bottom-line on tax benefit and higher sales, reaffirmed full-year guidance. See (Nasdaq:JAKK).
• OptionsXpress posts Q3 net income that beat the Street, but edged down from a year-ago. See (Nasdaq:OXPS).
• JDA Software Group posts third-quarter results that handily beat the Street. See (Nasdaq:JDAS).
• Drybulk shipper OceanFreight declares $0.77 dividend for Q3, shares jump 21%. See (Nasdaq:OCNF).
Small Cap Losers:
• Highveld Steel & Vanadium Corporation Ltd. is down 15% to fresh move lows. See (Nasdaq:HSVLY).
• Avigen plunges 70% after intermediate trial for treatment of spasticity associated with multiple sclerosis failed. See (Nasdaq:AVGN).
• Net Servicos de Comunicacao saw the top-line increase on lower subscription rates, operating costs jumped 26%, SG&A increased 37%. (Nasdaq:NETC).
• ENGlobal expects to report Q3 results below the consensus on Wall Street. See (NYSE:ENG).
• Twin Disc said fiscal Q1 earnings plunged due to lower volumes, unfavorable product mix and higher material costs. See (Nasdaq:TWIN).
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