Tag - NASDAQGM:INCY

The Russell 2000 (NYSE: IWM) and the other major U.S. indices posted losses today following mixed housing news and more mortgage concerns. The small-cap index fell 19.09 points, or 2.64%, to 704.86. The Dow Jones Industrial Average (INDU) lost 238.42 points, or 1.86%, to 12,589.07.

On a year-to-date basis, the Russell 2000 has declined 7.99%, while the Dow is down 5.09% and the S&P 500 has shrunk 5.32%.

Small-cap stocks opened in positive territory and then gained more following news of an announcement at 10 a.m. ET that pending U.S. home sales fell 2.6% in November to a reading of 87.6.

The decline is more than what economists were expecting, but investors apparently liked the fact that the figures for October and September were revised higher.

Additionally, the National Association of Realtors reported that it expects existing-home sales to hold steady during the following months before rising later in the year and improving in 2009.

“On the one hand, we have a pent-up demand from the four million jobs added to our economy over the past two years of sales decline,” said Lawrence Yun, NAR chief economist, in a statement. “On the other, consumers continue to wait for additional signs of market stabilization.”

Incyte Corp. (Nasdaq: INCY) shares are slightly up after the drug developer reported third-quarter revenue of $6.7 million, above analyst estimates of $6.4 million and compared with $7.3 million a year earlier.

“We made significant progress during the third quarter and have now demonstrated clinical proof-of-concept in four of our wholly owned, internally developed programs,” CEO Paul A. Friedman said in a statement. “Over the next six to twelve months, we have the potential to further strengthen the pipeline as we progress multiple compounds into Phase IIb trials and generate additional proof-of-concept data from compounds already in clinical development as well as from several new programs.”

The Wilmington, Del.-based company’s quarterly net loss widened to $24.5 million, or $0.29 per share, worse than Wall Street projections of losing $0.27 per share and compared with a net loss of $15.8 million, or $0.19 per share, during the same period of 2006.

In pre-market trading, INCY shares are up 2.08%, or $0.18, at $8.84. Over the last 52 weeks, shares have ranged from $4.50 to $8.91.

Triad Guaranty Inc. (Nasdaq: TGIC), NovaStar Financial Inc. (NYSE: NFI) and Avici Systems Inc. (Nasdaq: AVCI) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers: