Tag - Insu

Forced liquidations, fear of a global recession and a worrisome corporate profit picture sparked another stiff sell-off in small-cap stocks, capping off a bruising week that saw the Russell 2000 (NYSE:IWM) sink to the lowest close in more than five years. The Russell closed down 18.80, or 3.84%, at 471.12 and is now down 38% for 2008. The Dow is off 37% this year, while the S&P 500 is down 40%. Today’s small-cap gainers are Hansen Medical (Nasdaq:HNSN), Rubicon Technology (Nasdaq:RBCN) and IPC Holdings (Nasdaq:IPCR).

Other Market Watch highlights today included:

• Today’s slump underscored the fact that the credit crisis and economic crunch we’ve been feeling in America is also very much a global problem.
• This morning, data in Great Britain revealed that the U.K. economy contracted for the first time in 16 years, which ignited the largest one-day slide in the pound since 1992. 
• Also, Argentinean officials are pondering taking over billions in pension funds, Asian equities and European bourses are at five-year lows and even commodity markets are in a scary freefall.
• Crude oil prices plunged again today, sinking 5% to 17-month lows at $64.15 a barrel.
• The Commodity Research Bureau Index of 19 physical markets collapsed to the lowest point since January 2004 and is down more than 50% from the spring highs.

Small Cap Gainers:

• IPC Holdings gained 18% on no fresh news. See (Nasdaq:IPCR).  
• Rubicon Technology gained 24% at closing. See (Nasdaq:RBCN).  
• Hansen Medical closed up 30% after its bottom-line beat estimates and revenues soared in Q3. See (Nasdaq:HNSN).   
• Insituform Tech posted a 16% spike in Q3 EPS that beat the Street, as it made progress in its N. Am sewer rehabilitation operations. See (Nasdaq:INSU).

Small Cap Losers:

• Ariba Inc. closed down 22% on sloppy earnings results. See (Nasdaq:ARBA).  
• Technitrol Inc. tumbled some 35% on sloppy earnings news. See (NYSE:TNL).  
• XL Capital closed down 13% after Moody’s put the insurer on watch for downgrade on posting a Q3 loss due to bailing out Syncora Holdings. See (NYSE:XL).  

Hansen Medical Inc. (Nasdaq:HNSN), Heritage Commerce Corp. (Nasdaq:HTBK) and Insituform Technology Inc. (Nasdaq:INSU) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: IPC Holdings Ltd. (Nasdaq:IPCR), Align Technology Inc. (Nasdaq:ALGN), Silver Standard Resources Inc. (Nasdaq:SSRI), BankAtlantic Bancorp Inc. (Nasdaq:BBX), US Airways Group Inc. (Nasdaq:LCC) and Auburn National Bancorp Inc. (Nasdaq:AUBN).

Here are the biggest percentage gainers among small caps:

In one of the more jarring and widely anticipated stock market openings in history, small-cap stocks plummeted to fresh bear market lows while hitting the lowest point since August 2003. The freefall was precipitated by a collapse in overseas markets amid profit warnings in Asia, ongoing worries about a worldwide economic slowdown and talk of forced liquidation. Today’s small-cap gainers are Insituform Tech (Nasdaq:INSU), Align Technology (Nasdaq:ALGN) and Hittite Microwave (Nasdaq:HITT).

Other Market Watch highlights today include:

• We are heading toward one of the worst months in stock market history and while everyone seems to be trying to peg the bottom, there are no signs yet that one is in place.  
• The yield on benchmark 10-year notes was down more than 4%.   The yield on 30-year bonds tumbled to the lowest in history since the product issuance began back in 1977.
• With equity markets in panic liquidation mode and investors scrambling for a safe-haven outlet, demand for Treasury products has been extreme

Small Cap Gainers:

• Insituform Tech posted a 66% spike in Q3 EPS that beat the Street, as it made progress in its N. Am sewer rehabilitation operations. (Nasdaq:INSU). 
• Align Technology will cut 111 jobs; shares surge 20%. See (Nasdaq:ALGN).  
• Hittite Microwave up 4%, marginally ahead of the bell: posted Q3 EPS above the Street. See (Nasdaq:HITT).  
• Take-Two Interactive soaring 110% in pre-market trading, yet no fresh news.  See (Nasdaq:TTWO).  

Small Cap Losers:

• Avid Technology Inc. is down 25% following soft earnings news See (Nasdaq:AVID).  
• American River Bankshares tumble 22% on no fresh news. See (Nasdaq:AMRB).
• Central European Media Enterprises Ltd. is off 22%, sinking to fresh 52-week lows
See (Nasdaq:CETV).  
• Vimpelcom skids 21%, as rumors swirl that the CEO will resign. See (NYSE:VIP).  
• China Eastern Airlines Corp. Ltd. is down 17% and is another example of a firm that has collapsed from triple-digit stock values a year ago. See (NYSE:CEA). 

:CEA

The Russell 2000 fell while the Dow disregarded news of slow U.S. economic grow for another record close.  Among small caps, a fall in net income dropped shares of Ixia (Nasdaq: XXIA), while shares of Insituform Technologies, Inc. (Nasdaq: INSU) declined on news of quarterly loss.

The Russell 2000 lost 4.10 points, or 0.49 percent, to 829.70.  The Dow Jones Industrial Average added 15.44 points, or 0.12 percent, to 13,120.94, its third straight record close.