Small-cap stocks pushed higher; LFG, FNF, and HOGS lead gainers
Small-cap stocks pushed higher on the opening, showing a resilient rise in the face of yet another downbeat economic report. Today’s monthly employment release showed unemployment at 14-year highs, but the market was oversold and a dreary report was already priced into expectations. Today’s small-cap gainers are LandAmerica Financial Group (NYSE:LFG), Fuel Systems Solutions Inc. (NYSE:FNF) and Zhongpin (Nasdaq:HOGS).
Other Market Watch highlights today included:
• Energy stocks performed well in Europe ahead of the jobs report this morning; commodities in general have been clobbered again this week and could be ripe for a little corrective bounce.
• Crude oil edged slightly higher this morning, mimicking minor losses in the U.S. dollar.
• Small-cap stocks pushed higher on the opening, showing a resilient rise in the face of yet another downbeat economic report.
• The market is coming off the worst two-day drop since the 1987 crash, leaving room for a corrective bounce ahead of the weekend.
Small Cap Gainers:
• LandAmerica Financial Group stormed 78% higher on news that Fidelity National Financial will buy LFG for $126 million in stock. See (NYSE:LFG).
• Fuel Systems Solutions Inc. is up 26%, receiving an earnings lift. See (NYSE:FNF).
• Zhongpin expands prepared meat capacity by 114%; shares up nearly 12% in pre-market. See (Nasdaq:HOGS).
• Bristow upbeat on Randgold Resources despite 3Q loss; shares of Randgold are 4% higher in pre-market. See (Nasdaq:GOLD).
Small Cap Losers:
• Delta Petroleum Corp. is down 31%, gapping lower on news that Tracinda Corp. will not proceed with a previous tender offer. See (Nasdaq:DPTR).
• Genworth Financial sliding 24% in pre-market, Q3 results down versus a year ago. See (NYSE:GNW).
• Shares of Lear Corp. are down 24% after the automotive supplier recorded a $77.3 million loss in Q3. See (NYSE:LEA).
• Suntech Power Holdings completes solar photovoltaic installation at Caltech on Wednesday; shares are dropping 24% today. See (NYSE:STP).
Other Market Watch highlights today included:
• Energy stocks performed well in Europe ahead of the jobs report this morning; commodities in general have been clobbered again this week and could be ripe for a little corrective bounce.
• Crude oil edged slightly higher this morning, mimicking minor losses in the U.S. dollar.
• Small-cap stocks pushed higher on the opening, showing a resilient rise in the face of yet another downbeat economic report.
• The market is coming off the worst two-day drop since the 1987 crash, leaving room for a corrective bounce ahead of the weekend.
Small Cap Gainers:
• LandAmerica Financial Group stormed 78% higher on news that Fidelity National Financial will buy LFG for $126 million in stock. See (NYSE:LFG).
• Fuel Systems Solutions Inc. is up 26%, receiving an earnings lift. See (NYSE:FNF).
• Zhongpin expands prepared meat capacity by 114%; shares up nearly 12% in pre-market. See (Nasdaq:HOGS).
• Bristow upbeat on Randgold Resources despite 3Q loss; shares of Randgold are 4% higher in pre-market. See (Nasdaq:GOLD).
Small Cap Losers:
• Delta Petroleum Corp. is down 31%, gapping lower on news that Tracinda Corp. will not proceed with a previous tender offer. See (Nasdaq:DPTR).
• Genworth Financial sliding 24% in pre-market, Q3 results down versus a year ago. See (NYSE:GNW).
• Shares of Lear Corp. are down 24% after the automotive supplier recorded a $77.3 million loss in Q3. See (NYSE:LEA).
• Suntech Power Holdings completes solar photovoltaic installation at Caltech on Wednesday; shares are dropping 24% today. See (NYSE:STP).
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