Small caps fail hit a high note Monday; CYCL, AFF and WVCM lead gainersThe Russell 2000 (NYSE:IWM) started out the week with a whimper, unable to build on initial enthusiasm about a big stimulus plan out of China. Today’s small-cap gainers are Centennial Communications (Nasdaq:CYCL), American International Group (NYSE:AFF) and Wavecom SA (Nasdaq:WVCM). Other Market Watch highlights today included: • Coal, agriculture products, aluminum, gold, metals and mining stocks and oil and gas drillers are top performers today. Small Cap Gainers: • Centennial Communications Corp. soared 103% on unusually brisk volume on news that AT&T (NYSE:T) would buy the rural phone company for $944 million. See (Nasdaq:CYCL). Small Cap Losers: • Allied Capital Corp. tumbled some 43% today, as third quarter results did not impress investors. See (NYSE:ALD).
Small-cap stocks turn lower; AIG, GSI, and SCOP lead gainers
Small-cap stocks turned lower into midday trading, pulled down by worries about the economy, sinking REITS, soft financial stocks and concern that a big stimulus plan announced by China overnight might not be enough to jolt worldwide economic conditions out of the doldrums. Today’s small-cap gainers are AIG (NYSE:AFF), General Steel Holdings Inc. (NYSE:GSI) and Scopus Video Networks (Nasdaq:SCOP).
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Other Market Watch highlights today included: • S&P's: U.S. REITS may face more negative rating actions; struggling capital markets, awful real estate fundamentals also threaten REITS. • Energy traders continue to be ultra sensitive to declines in equities, fearing a troubled economy will squash demand. • Coal, agriculture products, aluminum, gold, metals and mining stocks and oil and gas drillers are top performers today. • The Russell was the first major index product to slip into the red, beating the Dow and S&P 500 into negative territory by about an hour. Small Cap Gainers: • U.S. plans more aid for AIG; shares up 62%. See (NYSE:AFF). • General Steel Holdings Inc. rallied 21% ahead of its earnings release on Friday. See (NYSE:GSI). • Scopus Video Networks announces record Q3 2008 results; shares flying 15% higher. See (Nasdaq:SCOP). • Top executives to buy back shares of VisionChina Media; shares up 15% in morning trading. See (Nasdaq:VISN). • Silver Standard last week turned to profit in Q3; shares up 15% today, rising on a commodities boost seen in the market. See (Nasdaq:SSRI) Small Cap Losers: • Southwest Water Company slipped 21% after announcing a delay in filings and a postponement on a conference call. See (Nasdaq:SWWC). • General Growth Properties down nearly 20% after a myriad of class-action lawsuits were announced against the REIT over the weekend. See (NYSE:GGP). • Clear Channel Outdoor Holdings Q3 profit declines; shares slump 18%. See (NYSE:CCO). • Newcastle Investment Corp. clocked a Q3 loss on Friday; shares are 17% lower today. See (NYSE:NCT). spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer
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