Rackspace Hosting, Savannah Bancorp and Federal Mogul lead small-cap percentage gainers
Rackspace Hosting Inc. (Nasdaq:RAX), Savannah Bancorp Inc. (Nasdaq:SAVB) and Federal Mogul Corp. (Nasdaq:FDML) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: CryptoLogic Ltd. (Nasdaq:CRYP), Emergent BioSolutions Inc. (Nasdaq:EBS), hhgregg Inc. (Nasdaq:HGG), Perfect World Co Ltd. (Nasdaq:PWRD), Oppenheimer Holdings Inc. (Nasdaq:OPY) and Medallion Financial Corp. (Nasdaq:TAXI).
Genesco, DryShips and Century Aluminum lead small-cap percentage losers
Genesco Inc. (Nasdaq:GCO), DryShips Inc. (Nasdaq:DRYS) and Century Aluminum Co. (Nasdaq:CENX) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Oppenheimer Holdings Inc. (Nasdaq:OPY), Arbitron Inc. (Nasdaq:ARB), Rockwood Holdings Inc. (Nasdaq:ROC), James Hardie Industries (Nasdaq:JHX), RC2 Corp. (Nasdaq:RCRC) and TAL International Group Inc. (Nasdaq:TAL).
Washington Banking, Oppenheimer Holdings and Imperial Capital Bancorp among 52-week lows
Washington Banking Co (Nasdaq:WBCO), Oppenheimer Holdings Inc (Nasdaq:OPY) and Imperial Capital Bancorp Inc (Nasdaq:IMP) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $750 million.
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Asta Funding Inc (Nasdaq:ASFI), White River Capital Inc (Nasdaq:RVR) and Horizon Financial Corp (Nasdaq:HRZB) are also among the new 52-week lows. Here are the new 52-week lows among small caps:
Small caps soar on Fed rate cutThe Russell 2000 (NYSE:IWM) closed with a remarkable gain following news that the U.S. Federal Reserve has lowered its target interest rate. The small-cap index rose 31.45 points, or 4.83%, to 681.93. The Dow Jones Industrial Average (INDU) advanced 420.41 points, or 3.51%, to 12,392.66. On a year-to-date basis, the Russell 2000 has retreated 10.98%, while the Dow is down 6.57% and the S&P 500 has let go 9.37%. Small-cap stocks soared higher than their larger counterparts and added to their earlier gains on news after the start of trading that the U.S. Federal Reserve has decided to lower its target interest rate 0.75% to 2.25%. “Recent information indicates that the outlook for economic activity has weakened further,” the Fed said in a statement. “Growth in consumer spending has slowed and labor markets have softened.” The market had priced a full 1% of the federal funds rate, the rate at which commercial banks make overnight loans to each other, but policymakers expressed concern about inflation. spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer
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