Tag - Hlth

The Russell 2000 (NYSE:IWM) staged an impressive start to the week, closing up 3.88% on Monday. Today’s small-cap gainers are Landrys Restaurants (NYSE:LNY), WebMD (Nasdaq:WBMD) and McMoRan (NYSE:MMR).

Other Market Watch highlights today included:

• The Russell is now down 29% for the year, while the Dow is off 30% and the S&P 500 is down 33%.
• Small caps lagged large caps today even on the rally, which is a little bit of concern as the same pattern was evident on the recent collapse.
• Techs lagged throughout the day. If the money to invest in tech is choked off, then the risk appetite for smaller-cap stocks is likely to suffer as well.
• Sectors on the rise today include coal stocks, oil equipment and oil services, oil exploration, oil and gas storage, steel, oil refiners, gas utilities, industrial gases and power products.
• On the downside, broadcast and cable TV stocks were lower, as . . .

Small-cap stocks started out the week with an impressive rally, riding the crest of climbing energy stocks, signs that the credit crisis is on the improve and talk from Federal Reserve Chairman Ben Bernanke that additional fiscal stimulus could be needed. The Russell 2000 (NYSE:IWM) closed up 20.40, or 3.88% at 546.83. The Russell is now down 29% for the year, while the Dow is off 30% and the S&P 500 is down 33%. Small caps lagged large caps today even on the rally, which is a little bit of concern as the same pattern was evident on the recent collapse.

Crude oil futures climbed 3.3% today as energy traders anticipate OPEC will cut production to counter soft demand and sinking prices. However, while the energy story was the dominant theme today, the move was powered by more than gains in the physical market. Oppenheimer analysts announced upgrades for several stocks in the sector and merger news also played a supportive role, which powered buying in beaten down energy stocks across the market capitalization spectrum. As for the M&A news, NRG Energy Inc. (NYSE:NRG) received an unsolicited bid of $6 billion from Exelon Corp. (NYSE:EXC) and the firm would not rule taking this hostile status if need be. The general rule of thumb is that if there are deals to be made in the large-cap world, then there are probably even more attractive deals to be found in the small-cap spectrum.

Interestingly, the rally today in crude oil and energy stocks was not a general push for commodities. In fact, the U.S. dollar gained about 0.6% versus the euro, which makes dollar-denominated commodities more expensive, and despite the rally in crude oil, the Commodity Research Bureau Index of 19 physical markets was basically flat.

The stock market was already on solid footing overnight on news of another steep decline in the inter-bank (or Libor) lending rate, which suggests that frozen credit lines are starting to thaw and that banks are beginning to trust each other . . .

Small-cap stocks opened with a strong bid this morning, boosted by encouraging signs in the bank lending market, a rise in energy stocks on analyst upgrades and a perception that a speech from Federal Reserve Chairman Ben Bernanke was slightly more upbeat than recent appearances. Today’s small-cap gainers are WebMD (NYSE:WBMD), Melco Crown (Nasdaq:MPEL) and McMoRan Exploration Co. (NYSE:MMR).

Other Market Watch highlights today included:

• On the downside, broadcast and cable TV stocks were lower, as were life health insurers and leisure product stocks
• Sectors on the rise today include coal stocks, oil equipment and oil services, oil exploration, oil and gas storage, steel, oil refiners, gas utilities, industrial gases and power products.  
• About one-third of the S&P 500 slated to release results this week
• Crude oil futures were up about $1.50 a barrel, providing a lift to energy-sensitive stocks and also to commodities in general.  

Small Cap Gainers:

• McMoRan Exploration Co. jumped some 22% on earnings news. See (NYSE:MMR).  
• Blackrock Ecosolutions Investment Trust is up 19% back to levels last seen in June. See (NYSE:BQR).  
• WebMD surges 30% on shares purchase by HLTH Corp. See (Nasdaq:WBMD).  
• Casino operator Melco Crown reiterated its City of Dreams plan on Friday. Shares are up 24%. See (Nasdaq:MPEL).  

Small Cap Losers:

• General Growth Properties attempts to sell $2 billion in preferred shares to private-equity firms to lower its debt, WSJ says. Shares are down 13%.  See (NYSE:GGP).
• HLTH Corp. plunges after announcement to terminate merger with WebMD. Shares are down 13%. See (Nasdaq:HLTH).  
• AMAG Pharma down 8% after FDA requests additional data for marketing approval for anemia drug in kidney disease patients. See (Nasdaq:AMAG).
• Syneron Medical slips 12% after the company warns for lower revenues in Q3. See (Nasdaq:ELOS).