Tag - Hmr

Small-cap stocks slipped Wednesday, as an early lift on better-than-feared economic data and firm tech stocks was overshadowed in the afternoon by worries about banks, fretting over delays in the Obama stimulus program and slumping retail stocks. Some of today’s small-cap gainers were Allos Therapeutics Inc. (Nasdaq:ALTH), Tremisis Energy Acquisition Corp. (NYSE:TGY) and Eagle Bulk Shipping Inc.  (Nasdaq:EGLE).

Other Market Watch highlights today included:

• Insurance firms, packaged foods companies, entertainment firms, breweries and tobacco stocks were on the slide.  
• Looking at sector activity so far, metals and mining stocks were doing well, as were semiconductors, forest products and investment banks.  
• Ahead of the opening today, the ADP Employment survey pegged a decline in non-farm payrolls of 522,000.  
• The ISM Non-Manufacturing Report came in at 42.9, which was better than the consensus forecast of 39.1 

Small Cap Gainers:

• Allos Therapeutics Inc. rose 4.8% on brisk turnover following news Tuesday afternoon that the company plans to submit a new drug application to the FDA in the next few months. See (Nasdaq:ALTH).  
• Tremisis Energy Acquisition Corp. was up just 0.8% at midday, but generating quite a spike in volume while approaching the highest point since mid-September. See (NYSE:TGY).  
• Bulk shippers wehe percentage mover boards today; Eagle Bulk Shipping Inc. was up nearly 15%, Genco Shipping & Trading Ltd. was up 11%. See (Nasdaq:EGLE) and (NYSE:GNK).

Small Cap Losers:

• Sports Properties Acquisition Corp. was off 0.3% on heavy volume. See (NYSE:HMR).  
• Littlefuse Inc. gapped lower and was off 13% as the industrial component maker took an earnings-related hit. See (Nasdaq:LFUS).  
• Computer network company Jack Henry & Associates posts 4% Q2 decline, sending shares down 10% in pre-market. See (Nasdaq:JKHY). 

Small-cap stocks rallied into mid-session trading, lifted by a better reading on the country’s sprawling services sector than feared. Additional support was tied to a private employment survey that also was above the worst end of projections, providing some investor calm ahead of Friday’s big monthly Labor Department release on employment.  Some of today’s small-cap gainers were Allos Therapeutics Inc. (Nasdaq:ALTH), Tremisis Energy Acquisition Corp. (NYSE:TGY) and Eagle Bulk Shipping Inc.  (Nasdaq:EGLE).

Other Market Watch highlights today included:

• Insurance firms, packaged foods companies, entertainment firms, breweries and tobacco stocks were on the slide.  
• Looking at sector activity so far, metals and mining stocks were doing well, as were semiconductors, forest products and investment banks.  
• Ahead of the opening today, the ADP Employment survey pegged a decline in non-farm payrolls of 522,000.  
• The ISM Non-Manufacturing Report came in at 42.9, which was better than the consensus forecast of 39.1 

Small Cap Gainers:

• Allos Therapeutics Inc. rose 4.8% on brisk turnover following news Tuesday afternoon that the company plans to submit a new drug application to the FDA in the next few months. See (Nasdaq:ALTH).  
• Tremisis Energy Acquisition Corp. was up just 0.8% at midday, but generating quite a spike in volume while approaching the highest point since mid-September. See (NYSE:TGY).  
• Bulk shippers wehe percentage mover boards today; Eagle Bulk Shipping Inc. was up nearly 15%, Genco Shipping & Trading Ltd. was up 11%. See (Nasdaq:EGLE) and (NYSE:GNK).

Small Cap Losers:

• Sports Properties Acquisition Corp. was off 0.3% on heavy volume. See (NYSE:HMR).  
• Littlefuse Inc. gapped lower and was off 13% as the industrial component maker took an earnings-related hit. See (Nasdaq:LFUS).  
• Computer network company Jack Henry & Associates posts 4% Q2 decline, sending shares down 10% in pre-market. See (Nasdaq:JKHY). 

Small-cap stocks rallied into mid-session trading, lifted by a better reading on the country’s sprawling services sector than feared. Additional support was tied to a private employment survey that also was above the worst end of projections, providing some investor calm ahead of Friday’s big monthly Labor Department release on employment. At 12:07 p.m. ET, the Russell 2000 (NYSE:IWM) was up 5.64, or 1.24%, at 458.53.

The ISM Non-Manufacturing Report came in at 42.9, which was better than the consensus forecast of 39.1 and which marked the second consecutive monthly gain after the index hit a record low of 37.3 in November. This report essentially provides a glimpse of services sector activity, which accounts for some three-fourths of all economic activity in the U.S. It should be noted that although today’s report was better than expected, it still reflects contraction and historically weak conditions.

Ahead of the opening today, the ADP Employment survey pegged a decline in non-farm payrolls of 522,000 and predicted Friday’s Labor Department report would show a drop of 525,000, which is slightly above the forecast of 500,000, but still better than some of the worst-case scenarios.

Looking at sector activity so far today, metals and mining stocks were doing well, as were semiconductors, forest products, investment banks as well as tire and rubber companies. However, insurance firms, packaged foods companies, entertainment firms, . . .

Small-cap stocks extended the morning rally into mid-session, with financial and bank stocks leading the way as hope swells for the government to sweep losing assets off bank balance sheets. Importantly, the Russell popped above the recent range highs from the Obama inauguration collapse, which could clear the way for a substantial push higher in the days to come. Some of today’s small-cap gainers were Orthovita Inc. (Nasdaq:VITA), Keynote Systems Inc. (Nasdaq:KEYN) and Sports Properties Acquisition Corp. (NYSE:HMR).

Other Market Watch highlights today included:

• Crude oil prices were mildly higher despite another build in the latest weekly inventory report.  
• Energy shares were higher, but noticeably trailing the overall market advance as large stockpiles and soft demand remain a limiting factor.  
• On the downside today, gold stocks and tobacco companies were lower, with the Gold and Silver Index down 1.6%.  
• Diversified banks, life health insurers, financial services firms, regional banks and asset management firms were top performers today. 

Small Cap Gainers:

• Orthovita Inc. climbed nearly 15% as the orthopedic biosurgery firm recovered a big chunk of recent declines on heavy turnover. See (Nasdaq:VITA).  
• Keynote Systems Inc. is up 8.6% as the online data firm rose to the highest point since Nov. 24 amid solid earnings. See (Nasdaq:KEYN).  
• Sports Properties Acquisition Corp. was only up 0.3%, but seeing a volume spike for the day without any apparent fresh news. See (NYSE:HMR).

Small Cap Losers:

• Century Aluminum Co. tumbled 30% as the firm announced plans for a common stock offering. See (Nasdaq:CENX).  
• Plantronics Inc. was down 9% as the headset maker took an earnings-related hit. See (NYSE:PLT).  
• Amylin Pharmaceuticals reports 2008 financial results; shares fall 6% in pre-market. See (Nasdaq:AMLN).

Small-cap stocks extended the morning rally into mid-session, with financial and bank stocks leading the way as hope swells for the government to sweep losing assets off bank balance sheets. Importantly, the Russell popped above the recent range highs from the Obama inauguration collapse, which could clear the way for a substantial push higher in the days to come. At 12:24 p.m. ET, the Russell 2000 (NYSE:IWM) is up 14.02, or 3.08%, at 469.60.

Financial names dominated upside activity so far today, but the breadth and depth of the advance was fairly impressive, with nearly a dozen S&P sector groups flirting with double digit gains and only a handful down even 1%.

Diversified banks, life health insurers, financial services firms, regional banks and asset management firms were among the top performers on the day. The KBW Banking Index soared some 11%, with JP Morgan Chase and Co. (NYSE:JPM) ranking as the top lift for the Dow. JPM shares were up 8.6%, while Wells Fargo & Co. (NYSE:WFC) was up a whopping 25%.

On the downside today, gold stocks and tobacco companies were lower, with the Gold and Silver Index down 1.6% and group leader Newmont Mining Corp. (NYSE:NEM) off some 4.1%. Energy shares were higher, but noticeably trailing the overall market advance as large stockpiles and soft demand remain a limiting factor for the physical market. Crude oil prices were mildly higher despite another build in the latest weekly inventory report.

Individual small caps seeing unusual volume action today include Sports Properties Acquisition Corp. (AMEX:HMR), which was only up 0.3%, but seeing a volume spike for the day without any apparent fresh news. Keynote Systems Inc. (Nasdaq:KEYN) was up 8.6% as the online data firm rose to the highest point since Nov. 24 amid solid earnings. Orthovita Inc. (Nasdaq:VITA) climbed nearly 15% as the orthopedic biosurgery firm recovered a big chunk of recent declines on heavy turnover.

The upside breach of 466.45, which marked the recent trading range peak from the inauguration collapse, was a significant development for the Russell. Persistent action above 466 would suggest an upside breakout with a pattern objective of 33 handles, near 499. The market still faces the 20-day moving average just above . . .

Rex Energy Corp (Nasdaq:REXX), Sequenom Inc (Nasdaq:SQNM) and Superior Well Services Inc (Nasdaq:SWSI) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Cytori Therapeutics Inc (Nasdaq:CYTX), Third Wave Technologies Inc (Nasdaq:TWTI) and SeaChange International Inc (Nasdaq:SEAC) are also among the new 52-week highs.

Overture Acquisition Corp (Nasdaq:NLX), Newpark Resources Inc (Nasdaq:NR) and Sports Properties Acquisition Corp (Nasdaq:HMR) were additionally included among the results.

Here are the new 52-week highs among small caps: