Tag - Keyn

Park-Ohio Holdings Corp. (Nasdaq:PKOH), Keynote Systems Inc. (Nasdaq:KEYN) and ATC Technology Corp. (Nasdaq:ATAC) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: WellCare Health Plans Inc. (Nasdaq:WCG), Stratasys Inc. (Nasdaq:SSYS), Arctic Cat Inc. (Nasdaq:ACAT), ViroPharma Inc. (Nasdaq:VPHM), Wintrust Financial Corp. (Nasdaq:WTFC) and Given Imaging Ltd. (Nasdaq:GIVN).

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 . . .