Small-cap stocks continue low; BXC, VQ, and MHS lead gainers
Small-cap stocks extended morning losses into the midday time frame, as another batch of dour economic numbers quickly refocused attention from the U.S. elections back onto the recession. Today's small-cap gainers were BlueLinx Holdings (NYSE:BXC), Venoco, Inc. (NYSE:VQ) and Medco Health (NYSE:MHS).
Other Market Watch highlights included:
• Commodities (a big plus for the market on Tuesday) were struggling today. Crude oil prices were off 7% after soaring 10% Tuesday.
• The best performers are homebuilders, health care services, managed health care and office supplies.
• Forest products, tire and rubber stocks, health care facilities, coal, Internet retail and broadcast TV companies are the worst performers.
• The jobs issue is now on the front burner ahead of Friday’s big employment report, which is expected to show a nasty decline.
• Drug, technology and financial shares paced today’s decline, fueled by worries that a recession in the U.S., global slowdown would dampen corporate profitability and deepen jobs losses.
Small Cap Gainers:
• BlueLinx Holdings up 20% after appointing George Judd CEO today. See (NYSE:BXC).
• Independent energy company Venoco, Inc. up 16% on higher-than-average volume. See (NYSE:VQ).
• Medco Health shares up 13% after seeing 38% rise in Q3 profit. See (NYSE:MHS).
• Natural Gas Services Group announces a 43% increase in Diluted EPS for Q3; shares climb over 11%. See (NYSE:NGS).
• Genco Shipping cancels agreement to acquire six drybulk newbuildings; shares up over 8%. See (NYSE:GNK).
Small Cap Losers:
• NeuStar reports Q3 results, downgraded to "buy" from "strong buy." Shares dive 20%. See (NYSE:NSR).
• Ashford Hospitality Trust down 20% after naming interim CFO. See (NYSE:AHT).
• Reports say Advance America, Cash Advance could take $42M hit if forced to close Ohio centers. Shares careen 15%. See (NYSE:AEA).
• Fitch downgraded Colonial BancGroup's ratings last week; shares dive over 22% today. See (NYSE:CNB).
• Simcere Pharmaceutical Group down 25% on heavier-than-average volume. See (NYSE:SCR)
Other Market Watch highlights included:
• Commodities (a big plus for the market on Tuesday) were struggling today. Crude oil prices were off 7% after soaring 10% Tuesday.
• The best performers are homebuilders, health care services, managed health care and office supplies.
• Forest products, tire and rubber stocks, health care facilities, coal, Internet retail and broadcast TV companies are the worst performers.
• The jobs issue is now on the front burner ahead of Friday’s big employment report, which is expected to show a nasty decline.
• Drug, technology and financial shares paced today’s decline, fueled by worries that a recession in the U.S., global slowdown would dampen corporate profitability and deepen jobs losses.
Small Cap Gainers:
• BlueLinx Holdings up 20% after appointing George Judd CEO today. See (NYSE:BXC).
• Independent energy company Venoco, Inc. up 16% on higher-than-average volume. See (NYSE:VQ).
• Medco Health shares up 13% after seeing 38% rise in Q3 profit. See (NYSE:MHS).
• Natural Gas Services Group announces a 43% increase in Diluted EPS for Q3; shares climb over 11%. See (NYSE:NGS).
• Genco Shipping cancels agreement to acquire six drybulk newbuildings; shares up over 8%. See (NYSE:GNK).
Small Cap Losers:
• NeuStar reports Q3 results, downgraded to "buy" from "strong buy." Shares dive 20%. See (NYSE:NSR).
• Ashford Hospitality Trust down 20% after naming interim CFO. See (NYSE:AHT).
• Reports say Advance America, Cash Advance could take $42M hit if forced to close Ohio centers. Shares careen 15%. See (NYSE:AEA).
• Fitch downgraded Colonial BancGroup's ratings last week; shares dive over 22% today. See (NYSE:CNB).
• Simcere Pharmaceutical Group down 25% on heavier-than-average volume. See (NYSE:SCR)
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