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DryShips Inc. (Nasdaq:DRYS), Landrys Restaurants Inc. (Nasdaq:LNY) and Zumiez Inc. (Nasdaq:ZUMZ) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: GMX Resources Inc. (Nasdaq:GMXR), Danaos Corp. (Nasdaq:DAC), Tempur Pedic International Inc. (Nasdaq:TPX), Rubicon Technology Inc. (Nasdaq:RBCN), Eagle Bulk Shipping Inc. (Nasdaq:EGLE) and Genco Shipping & Trading Ltd. (Nasdaq:GNK).

The Russell 2000 (NYSE:IWM) rallied back into positive territory today, rejecting a morning slide to seven-week lows as technology firms, energy companies, gold stocks and downtrodden financial shares attracted buying interest from bargain hunters. Some of today's small-cap gainers were Geron Corp. (Nasdaq:GERN), Tempur-Pedic (NYSE:TPX) and Canadian Solar (Nasdaq:CSIQ).

Other Market Watch highlights today included:

• Stock markets in Europe and Asia were in retreat mode overnight, which only added to the selling bias early on in U.S. trading.
• Small-cap stocks rallied back into positive territory, rejecting a morning slide to seven-week lows.
• For 2009, the Russell is off 11%, while the Dow is down 7.9% and the S&P 500 is down 7.8%.
• For the day, bank stocks were up 4.1%, while the Financial Select Sector SPDR Fund rose 3.3%.
• Energy stocks were among the strongest performers today, bolstered by a recovery rally in crude oil prices, which jumped $2.80/barrel.
• Gold prices steamrolled to $900 an ounce Friday, gathering momentum from short-term investors seeking a safe-haven.

Small-Cap Gainers:

• Geron Corp. jumped 40% on unusually heavy volume on news that the FDA approved the first tests in human patients of embryonic stem cells. See (Nasdaq:GERN).
• Tempur-Pedic International Inc. rose 24% as the mattress maker beat the earnings forecast just a week after rival Sealy Corp. posted a stunning loss. See (NYSE:TPX).
• Canadian Solar Inc. climbed 17%, reversing a morning slide . . .

Small-cap stocks rallied back into positive territory, rejecting a morning slide to seven-week lows as technology firms, energy companies, gold stocks and downtrodden financial shares attracted buying interest from bargain hunters. The Russell 2000 (NYSE:IWM) closed up 1.51, or 0.34%, at 444.36. Despite the rally off morning lows, this still marked the lowest weekly close for small caps since the bottom was formed in mid-November and was the second lowest weekly finish in more than five years. For 2009, the Russell is off 11%, while the Dow is down 7.9% and the S&P 500 is down 7.8%.

Technology stocks were a clear source of strength for the market today, with Google Inc. (Nasdaq:GOOG) climbing 5.9% after reporting solid earnings. Earlier this week, Apple Inc. (Nasdaq:AAPL) beat the forecast and these good vibes on select tech stocks have helped offset terrible reports from Microsoft and from a handful of chipmakers around the world (such as Samsung and Advanced Micro Devices).

It has been a bruising run for bank and financial shares in recent weeks, but that group found buyers today, perhaps linked to bargain hunting and also likely supported by hopes for a stimulus-tied jump next week as more details about the Obama plans come to light. In addition, the market is starting to expect embattled Treasury Department appointee Timothy Geithner will clear a Senate vote on Monday, providing some leadership in the financial arena. Geithner today said that he would strengthen regulation on over-the-counter derivatives and oversight of hedge funds. For the day, bank stocks were up 4.1%, while the Financial Select Sector SPDR Fund rose 3.3%.

Gold prices steamrolled to $900 an ounce Friday, gathering momentum from short-term investors seeking a safe-haven and perhaps even some long-term traders . . .

Geron Corp. (Nasdaq:GERN), Tempur Pedic International Inc. (Nasdaq:TPX) and Forestar Group Corp.(Nasdaq:FOR) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Canadian Solar Inc. (Nasdaq:CSIQ), Heartland Payment Systems Inc. (Nasdaq:HPY), Targa Resources Partners LP (Nasdaq:NGLS), Ezcorp Inc. (Nasdaq:EZPW), Agree Realty Corp. (Nasdaq:ADC) and DivX Inc.(Nasdaq:DIVX).

Lululemon Athletica Inc. (Nasdaq:LULU), Pain Therapeutics Inc. (Nasdaq:PTIE) and Integral System Inc. (Nasdaq:ISYS) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ciena Corp. (Nasdaq:CIEN), Tempur Pedic. International Inc. (Nasdaq:TPX), Merchants Bancshares Inc. (Nasdaq:MBVT), Digi International Inc. (Nasdaq:DGII), Aceto Corp. (Nasdaq:ACET) and American Greetings Corp. (Nasdaq:AM).

Tempur-Pedic International Inc. (NYSE:TPX) is up more than 18% today after the company announced after the close on Thursday second-quarter earnings that beat Wall Street views. For the quarter ended June 30, the mattress maker reported net income of $20.2 million, or $0.27 per share, compared with $32.9 million, or $0.39 per share, for the same quarter a year ago. On average, analysts were expecting $0.23 per share.

In today’s trading, shares of Lexington, Ky.-based Tempur-Pedic are up $1.62 at $10.30 at 2:02 p.m. ET on above-average volume. During the past 52 weeks, the stock has ranged from $7.05 to $37.87.

Small-cap stocks closed slightly lower Tuesday, but did stage an impressive bounce off four-month lows. A massive slide in crude oil prices helped offset sluggish economic data, ongoing concerns about financial systemic risk and an overseas rout in equities that underscored a lack of confidence in U.S. instruments and sparked a historic slide in the U.S. dollar. At the end of a tumultuous session, the Russell 2000 (NYSE:IWM) fell 2.15, or 0.32%, to 662.35.

The dramatic recovery rally off fresh move lows in the Russell formed a decent bullish reversal pattern on daily charts while providing some immediate validation of the March bottom by showing there are investors who see value in that zone. The sudden influx of volatility also fits with bottoming action that was forged back in January and March when the market started to trade in frantic fashion, whipsawing both longs and shorts. Just how wild was today’s session in small caps? Some of the most astounding days of the last 12 months saw the Russell trade in a 20-handle range. Today’s range was more than 26 handles; the last time we saw sessions this crazy at major turning points was back in mid-March at the lows and back in late January (also at the lows).

Once again, small caps paced the rally over the Dow and S&P 500, which is a little bit of a caution sign since the Dow/Russell spread has been collapsing during the big overall market decline off the June highs. However, small caps weren’t the only leaders today as tech stocks were mildly firm, with the Nasdaq up slightly. Also, there was some rotation into the buy-side on pharmaceuticals, with the AMEX Pharmaceuticals Index rising 1.1%.

Crude oil futures collapsed some $6 dollars a barrel, the largest one-day decline in 17 years. In an interesting twist, crude oil traders blamed the slide on worries about the U.S. economy and the fragile stock market, while stock market traders pointed to the collapse in crude oil prices as the primary motivator for today’s recovery. “Regardless of which side is wagging the dog’s tail, the market is doing what it needs . . .