Tag - Olin

Small-cap stocks remained higher into mid-session, underpinned by a few bright spots on the earnings front, M&A enthusiasm and confirmation of Timothy Geithner’s appointment as Treasury Department Secretary. However, record low consumer confidence kept some buyers at bay. Some of today’s small-cap gainers were Netflix Inc. (Nasdaq:NFLX), Patriot Coal Corp. (NYSE:PCX) and Massey Energy Co. (NYSE:MEE).

Other Market Watch highlights today included:

• Outside of coal, energy shares are down, with the Energy Select Sector SPDR Fund off about 0.1% in line with slumping crude oil futures.  
• The chart picture for small caps shows that the market is trapped in a mini-range loosely defined by the inauguration day collapse.  
• Copper took a 5% nosedive in overseas trading, which is a troubling sign for the economy as copper is a key ingredient in building.  
• On Thursday, new home sales data will help provide further information about the housing market.

Small Cap Gainers:

• Netflix Inc. jumped 14% on heavy volume following surprisingly positive earnings figures. See (Nasdaq:NFLX).   
• Among coal stocks, small-cap company Patriot Coal Corp. was up 2.7%, while Massey Energy Co. was up 3.2%. See (NYSE:PCX) and (NYSE:MEE).
• Resource America Inc. was only slightly higher at midday, but was seeing unusually brisk volume, especially for such a tight daily range. See (Nasdaq:REXI).

Small Cap Losers:

• Olin Corp. fell 12% on brisk volume tied to earnings news. See (Nasdaq:OLIN).  
• UAL Corp., parent company of United Airlines, is off about 8%. See (Nasdaq:UAUA).  
• The AMEX Airline Index was off 6.3%, with small-cap carrier US Airways Group Inc. down 12%. See (NYSE:LCC).
• LivePerson Inc. was off about 2.6% on a jump in turnover without any apparent fresh news. See (Nasdaq:LPSN).