Russell falls back lower; DRYS, TBSI, and EGLE lead gainers

Small-cap stocks pushed lower on the open, weighed down by slumping financial shares and a pause in the commodities run that helped power Monday’s rally. Some of today’s small-cap gainers are DryShips (Nasdaq:DRYS), TBS International (Nasdaq:TBSI) and Eagle Bulk Shipping (Nasdaq:EGLE).

Other Market Watch highlights today included:

• It should be noted that the U.S. dollar was up about 0.9% against the euro, which tends to weigh on commodities.  
• Crude oil prices slipped about $0.40 a barrel on the stock market open, which could keep energy stocks at bay today.  
• Today’s pullback in the stock market comes as a logical “breather” following an impressive two-day run that lifted equities to four-week highs.  
• Earlier this morning, the Johnson Redbook Retail Sales Index was down 0.8% for the week on a year-over-year basis.

Small Cap Gainers:

• DryShips up another 12% in pre-market this morning, extending the solid rally from Monday. See (Nasdaq:DRYS).
• TBS International up 7% in pre-market on light volume, extending Monday's rally. See (Nasdaq:TBSI).  
• Eagle Bulk Shipping up 6% in pre-market as many drybulk shipping companies made huge gains on Monday. See (Nasdaq:EGLE).  
• Wireless broadband provider Alvarion to cut job, executive pay. Shares rise 3% in pre-market. See (Nasdaq:ALVR).  

Small Cap Losers:

• Learning Tree International Inc. gapped downward and lost 21% as the education vendor also took an earnings-related lump. See (Nasdaq:LTRE).  
• Analogic Corp. gapped lower and shed 19% maker of health and security imaging equipment announced earnings. See (Nasdaq:ALOG).
• Con-Way Inc. slumped 16% as the freight transport company revised guidance lower. See (NYSE:CNW).  
• Cherokee Inc. slipped 10% as the brand management company corrected lower from big gains the previous two sessions. See (Nasdaq:CHKE).  

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