Small caps in the green; AHG, SYMS, and SMSI lead gainers
Small-cap stocks were in rally mode Tuesday morning, taking flight in response to signs of a thaw in the credit market freeze, oversold conditions that brought out bargain hunters and a sizable jump in overseas equities markets. From an economic data perspective, today’s consumer confidence report and Case-Shiller Home Price Index releases were somber at best. Today’s small-cap gainers are Apria Healthcare Group Inc. (NYSE:AHG), Syms Corp. (Nasdaq:SYMS) and Smith Micro Software (Nasdaq:SMSI).
Other Market Watch highlights today included:
• Crude oil prices were up about $1 a barrel this morning, helped along by a mild dip in the U.S. dollar against the euro.
• European energy stocks also were in rally mode today, which should provide a lift to U.S. energy stocks as well.
• After a global rout in equities Monday, investors came in today with relief that stocks in Asia and Europe were in rally mode instead of deepening the slide.
• The dip in Libor rates also corresponds with the FOMC meeting, which began today and which should result in a rate cut Wednesday afternoon.
• Small-cap stocks were in rally mode Tuesday morning, currently up 2% and taking flight in response to signs of a thaw in the credit market freeze.
Small Cap Gainers:
• Apria Healthcare Group Inc. is rallying 45%. Its stock will cease to trade publicly when a merger with The Blackstone Group is completed; shares will be converted into $21 cash. See (NYSE:AHG).
• Syms Corp. is up 18%, trying to reverse Monday’s decline to fresh closing lows. See (Nasdaq:SYMS).
• Dell Selects Smith Micro Software to Deliver Universal Connection Management Software, up 5%. See (Nasdaq:SMSI).
• Schnitzer Steel cautioned markets in early F09 have significantly weakened and it is uncertain when improvements may be seen. (Nasdaq:SCHN).
Small Cap Losers:
• Ceradyne reports Q3 net income tumbles 40%, guides 2008 below the Street. See (Nasdaq:CRDN).
• The nation’s largest rent-to-own operator Rent-A-Center reduces Q4 outlook on severity of financial crisis, down 33%. See (Nasdaq:RCII).
• Martha Stewart misses analysts estimate by penny, issues Q4 and 08 revenue below Street. See (NYSE:MSO).
• Buffalo Wild Wings’ EPS fall short of Street view, expects sales and EPS growth in 25% range for full year, just shy of the Street. (Nasdaq:BWLD).
Other Market Watch highlights today included:
• Crude oil prices were up about $1 a barrel this morning, helped along by a mild dip in the U.S. dollar against the euro.
• European energy stocks also were in rally mode today, which should provide a lift to U.S. energy stocks as well.
• After a global rout in equities Monday, investors came in today with relief that stocks in Asia and Europe were in rally mode instead of deepening the slide.
• The dip in Libor rates also corresponds with the FOMC meeting, which began today and which should result in a rate cut Wednesday afternoon.
• Small-cap stocks were in rally mode Tuesday morning, currently up 2% and taking flight in response to signs of a thaw in the credit market freeze.
Small Cap Gainers:
• Apria Healthcare Group Inc. is rallying 45%. Its stock will cease to trade publicly when a merger with The Blackstone Group is completed; shares will be converted into $21 cash. See (NYSE:AHG).
• Syms Corp. is up 18%, trying to reverse Monday’s decline to fresh closing lows. See (Nasdaq:SYMS).
• Dell Selects Smith Micro Software to Deliver Universal Connection Management Software, up 5%. See (Nasdaq:SMSI).
• Schnitzer Steel cautioned markets in early F09 have significantly weakened and it is uncertain when improvements may be seen. (Nasdaq:SCHN).
Small Cap Losers:
• Ceradyne reports Q3 net income tumbles 40%, guides 2008 below the Street. See (Nasdaq:CRDN).
• The nation’s largest rent-to-own operator Rent-A-Center reduces Q4 outlook on severity of financial crisis, down 33%. See (Nasdaq:RCII).
• Martha Stewart misses analysts estimate by penny, issues Q4 and 08 revenue below Street. See (NYSE:MSO).
• Buffalo Wild Wings’ EPS fall short of Street view, expects sales and EPS growth in 25% range for full year, just shy of the Street. (Nasdaq:BWLD).
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