Tag - Ctct

Small-cap stocks pushed higher Friday, with the Russell 2000 (NYSE:IWM) rising 4.81, or 0.67%, to 721.88, which marked the highest daily close since Feb. 13. The market had a teeter-totter session, opening higher on earnings news and a firm dollar, then slumping on consumer sentiment jitters and soaring crude oil before staging the afternoon recovery.

Crude oil futures climbed to a record intraday peak Friday at $119.90 per barrel, lifted by supply concerns tied to worker strikes in Nigeria and the North Sea. The supply side concerns were complemented by news of warning shots fired on boats in the Gulf thought to be Iranian, underscoring tensions right now between the United States and Iran.

The market appeared set for a comfortable morning rise early today, but then the University of Michigan consumer sentiment survey cast a pall over buyer enthusiasm. The Michigan headline report came out at 62.6, down from 69.5 the previous month, and at the lowest April reading in 26 years. The dour consumer mood sparked a wave of selling across equity products, but the slide never really took hold and stocks were able to recover in the afternoon despite the Michigan survey and spiking crude values.

Speaking of economic data, this week’s report front was the quiet before next week’s storm. Not only will investors have to navigate a frothy sea of economic data risk —  highlighted by Friday’s employment report — but the FOMC meeting Tuesday afternoon could trigger a dramatic market response as everyone struggles to read the Federal Reserve “tea leaves” to see if the end of the easing cycle is nigh.

Back to today’s action, equities likely found some support tied to a solid performance in the U.S. dollar, which climbed about 0.6% against the euro, and was up nearly 0.3% against the yen. The fact that the greenback held onto gains versus the euro despite the jump in crude oil was impressive, as most of the time in recent . . .

Constant Contact, Inc. (Nasdaq: CTCT) shares are climbing after the provider of e-mail marketing products for small businesses reported it has been added to the Russell 2000 index.

"We are very pleased to be part of the Russell 2000 Index following our successful IPO in the third quarter of 2007," CEO Gail Goodman said in a statement. "Our inclusion in this widely-referenced small-cap index will help increase our visibility to a larger group of institutional investors and index funds."

Membership in the small-cap index remains in place for one year. The Waltham, Mass.-based firm was added to the Russell 2000 at the close of business on Dec. 21.

In afternoon trading, CTCT shares are up 12.05%, or $2.45, at $22.79. Over the last 52 weeks, shares have ranged from $15.45 to $30.76.

AspenBio Pharma, Inc. (Nasdaq: APPY), Datawatch Corp. (Nasdaq: DWCH) and WCA Waste Corp. (Nasdaq: WCAA) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

The Russell 2000 (NYSE: IWM) is in the green even though news of a sharp decline in November consumer confidence shaved earlier gains.

At 10:37 a.m. ET, the small-cap index had added 4.24 points, or 0.58%, to 739.31. The Dow Jones Industrial Average (INDU) had advanced 115.34 points, or 0.91%, to 12,858.78.

Wall Street was bullish before the start of trading on news that Citigroup Inc. (NYSE: C) has sold 4.9% of itself to the Abu Dhabi Investment Authority for $7.5 billion. The cash infusion will allow the largest U.S. bank to better deal with losses accumulated through bets on securities backed by subprime mortgages.

New York-based Citigroup posted a loss during the third quarter, hurt by more than $6 billion in writedowns. The bank could face even larger losses in the fourth quarter.

Futures were pointing higher and small and large-cap stocks rose out of the gate.

But the rally quickly lost steam after 10 a.m. ET, when the Conference Board announced a larger-than-expected drop in consumer confidence for November.

Triad Guaranty Inc. (Nasdaq: TGIC), Nanophase Technologies Corp. (Nasdaq: NANX) and Isramco, Inc. (Nasdaq: ISRL) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers: