Tag - Tdg

Small-cap stocks opened higher, but stalled quickly as bargain hunters were on the buy side trying to balance a mixed bag of corporate profit reports, worries about the stimulus package progress and valuation levels on the indices that have are seen as attractive in many corners. Some of today’s small-cap gainers were Sonesta International Hotels Corp.  (Nasdaq:SNSTA), John B. Sanfilippo & Son Inc. (Nasdaq:JBSS) and Transdigm Group Inc. (NYSE:TDG).

Other Market Watch highlights today included:

• Treasury markets clearly extended morning declines after the pending home sales report, which suggests money flow out of debt markets and potentially into stocks.  
• The pending home sales report rose 6.3%, better than expected (the forecast was flat) and helped spark a recovery bounce in equities.  
• Crude oil prices were higher in choppy trade ahead of the open; energy markets appear to be on steady footing coming into today’s session.  
• Pending home sales data comes out at 10:00 a.m. ET.
• Carmakers will release sales figures today, which could move stocks not just for automakers, but also for the general market.

Small Cap Gainers:

• Sonesta International Hotels Corp. jumped 30%, but volume on the move was limited. See (Nasdaq:SNSTA).  
• John B. Sanfilippo & Son Inc. rose 26% as the nut snack maker got an earnings-related lift. See (Nasdaq:JBSS).  
• Transdigm Group Inc. rallied nearly 13% as the aircraft component designer was another firm reporting solid results. See (NYSE:TDG).  
• OSI Pharmaceuticals rises over 11% in pre-market after the company and Genentech say its drug’s benefits ended their lung cancer trial early. See (Nasdaq:OSIP).

Small Cap Losers:

• The Pantry Inc. fell 13% as the convenience chain store operator was on the negative side of the earnings response. See (Nasdaq:PTRY).  
• SanDisk sharply lower in pre-market following quarterly results. See (Nasdaq:SNDK).  
• Human Genome Sciences begins delivery of first-in-class Anthrax; shares dip slightly in pre-market on light volume. See (Nasdaq:HGSI).

Small-cap stocks opened higher, but stalled quickly as bargain hunters were on the buy side trying to balance a mixed bag of corporate profit reports, worries about the stimulus package progress and valuation levels on the indices that have are seen as attractive in many corners. At 10:04 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.62, or 0.36%, at 447.99.

The pending home sales report rose 6.3%, which was better than expected (the forecast was flat) and helped spark a little recovery bounce in equities. At the same time that the pending home sales report came out, the Federal Reserve said that they would extend liquidity provisions for various lending programs, which also was a supportive element in play. Treasury markets clearly extended morning declines after the pending home sales report, which suggests money flow out of debt markets and potentially into stocks.

Traders also will be watching vehicle sales report out of the major automakers throughout the session, for a glimpse not only of how bad things are on the car front, but also on the overall consumer spending psyche.

Lawmakers are slated to start debate today on the Obama stimulus plan, one that went through the House without any Republican support, but which faces a sterner test in the Senate without getting some Republican converts.

Individual small caps on the move this morning included InterMune Inc. (Nasdaq:ITMN), which gapped higher and jumped 31% as the firm’s lung drug met its trial goal. Sonesta International Hotels Corp. (Nasdaq:SNSTA) jumped 30%, but volume on the move was limited. John B. Sanfilippo & Son Inc. (Nasdaq:JBSS) rose 26% as the nut snack maker got an earnings-related lift. Transdigm Group Inc. (NYSE:TDG) rallied nearly 13% as the aircraft component designer was another firm reporting solid results. On the downside, The Pantry Inc. (Nasdaq:PTRY) fell 13% as the convenience chain store operator was on the negative side of the . . .