Tag - Func

The Russell 2000 (NYSE: IWM) futures are a whisker below the closing level on Wednesday and the index will likely open in negative territory.

The U.S. economy grew at an impressive 4.9% annual rate during the third quarter of 2007, the Commerce Department reported. That’s an upward revision from the preliminary figure of 3.9% and represents the strongest quarterly pace since 2003.

However, consumer spending increased a less-than-expected 2.7%, a sign that American consumers are getting tired in the face of stagnating home prices and high energy costs. Consumption is about 70% of gross domestic product.

The price of oil has added about $2 to above $92 a barrel following news of a fire at a pipeline carrying crude oil from Canada to the U.S. Midwest.

Investors will be paying attention to a report from the U.S. Census Bureau on new home sales in October. The numbers will be released at 10 a.m. ET, with economists expecting to see a decline.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Solarfun Power Holdings Co. Ltd. (SOLF), up 23% on news of a rise in third-quarter profit.
• Luna Innovations Inc. (LUNA), up 13% on news it has been awarded a grant from the National Heart, Lung, and Blood Institute.
• Sirtris Pharmaceuticals, Inc. (SIRT), up 9%.

Biggest percentage losers:

• First United Corp. (FUNC), down 49%.
• Geron Corp. (GERN) down 9%.
• Jos. A. Bank Clothiers, Inc. (JOSB) down 2%.