Small-cap stocks jump higher; GMET, LGTY, and ETEL lead gainers
Small-cap stocks jumped higher on the opening, lifted by news of a large fiscal stimulus plan out of China, and by a surge in commodity-related shares. Today’s small-cap gainers are GeoMet (Nasdaq:GMET), Logility, Inc. (Nasdaq:LGTY) and ETEL (Nasdaq:ETEL).
Other Market Watch highlights today included:
• Financial shares got a lift from a G20 statement over the weekend saying that a coordinated action was needed to fight the global financial crisis.
• At 9:54 a.m. ET, the Russell 2000 was up 5.81, or 1.15% at 511.60
• Small-cap stocks jumped higher on the opening, lifted by news of a large fiscal stimulus plan out of China, and by a surge in commodity-related shares.
• Overnight, China shares were up 7.4%, Japan’s Nikkei climbed 5.8%, Hong Kong was up 3.5%, India rallied 5.7%, Australia was up 1.3% and European shares were up about 2% heading toward the U.S. open.
• Crude oil prices were up more than $4 a barrel, while copper prices climbed 8% in Asian trading.
Small Cap Gainers:
• GeoMet up 19% ahead of its Q3 earnings release and conference call scheduled for today. See (Nasdaq:GMET).
• Logility, Inc. up 18% on light volume. See (Nasdaq:LGTY).
• EGS Acquisition Co. commences tender offer to acquire all issued and outstanding common shares and ADSs of eTelecare Global Solutions. Shares of ETEL pop 16%. See (Nasdaq:ETEL).
• Smith & Wesson up over 16% on no fresh news, lower-than-average volume. See (Nasdaq:SWHC).
Small Cap Losers:
• GSK, XenoPort to withdraw and resubmit new drug application requesting Solzira approval for restless legs syndrome. XNPT shares dive 17% in pre-market. See (Nasdaq:XNPT).
• Fuel Tech Inc. reports Q3 results, lowers FY 2008 outlook. Shares drop 9% in pre-market. See (Nasdaq:FTEK).
• Circuit City files For Chapter 11; shares lose more than half their value, shares plummet 64% in pre-market. See (NYSE:CC).
Other Market Watch highlights today included:
• Financial shares got a lift from a G20 statement over the weekend saying that a coordinated action was needed to fight the global financial crisis.
• At 9:54 a.m. ET, the Russell 2000 was up 5.81, or 1.15% at 511.60
• Small-cap stocks jumped higher on the opening, lifted by news of a large fiscal stimulus plan out of China, and by a surge in commodity-related shares.
• Overnight, China shares were up 7.4%, Japan’s Nikkei climbed 5.8%, Hong Kong was up 3.5%, India rallied 5.7%, Australia was up 1.3% and European shares were up about 2% heading toward the U.S. open.
• Crude oil prices were up more than $4 a barrel, while copper prices climbed 8% in Asian trading.
Small Cap Gainers:
• GeoMet up 19% ahead of its Q3 earnings release and conference call scheduled for today. See (Nasdaq:GMET).
• Logility, Inc. up 18% on light volume. See (Nasdaq:LGTY).
• EGS Acquisition Co. commences tender offer to acquire all issued and outstanding common shares and ADSs of eTelecare Global Solutions. Shares of ETEL pop 16%. See (Nasdaq:ETEL).
• Smith & Wesson up over 16% on no fresh news, lower-than-average volume. See (Nasdaq:SWHC).
Small Cap Losers:
• GSK, XenoPort to withdraw and resubmit new drug application requesting Solzira approval for restless legs syndrome. XNPT shares dive 17% in pre-market. See (Nasdaq:XNPT).
• Fuel Tech Inc. reports Q3 results, lowers FY 2008 outlook. Shares drop 9% in pre-market. See (Nasdaq:FTEK).
• Circuit City files For Chapter 11; shares lose more than half their value, shares plummet 64% in pre-market. See (NYSE:CC).
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