Bulls in control
The Russell 2000 small-cap index and the Dow are in positive territory this afternoon. At 2:26 p.m. ET the Russell 2000 was up 2.37 points, or 0.28%, to 852.50. The Dow Jones Industrial Average had gained 38.36 points, or 0.28%, to 13,604.20.
Shares of Epoch Holding Corp. (Nasdaq: EPHC) are appreciating following news the provider of investment advisory services has increased its assets. As of June 30, the assets under management were $6.0 billion, a rise of 12%, compared with assets of $5.4 billion as of March 31, the New York-based company said after Thursday’s close. Shares are up $0.67, or 5%, to $13.69.
Heathrow, Fla.-based Ruths Chris Steak House Inc. (Nasdaq: RUTH) announced preliminary second-quarter revenue that fell short of Wall Street’s expectations. Total revenues for the quarter ended July 1 are forecast at between $76.9 and $77.1 million, the company said after Thursday’s close. Eight analysts polled by Thomson Financial were looking for revenue of $78.06 million. Additionally, quarterly comparable restaurant sales fell 0.4%. The stock is down $0.07, or 0.41%, to $17.20.
Shares of Vimicro International Corp. (Nasdaq: VIMC) are up $0.49, or 9%, to $6.15, following news the Chinese fabless semiconductor company has higher a new Vice President and CFO. Quincy Tang is a member of the Hong Kong Institute of Certified Public Accountants and has more than 20 years of executive financial experience, the company said before the opening bell.
In economic news, the price of oil added nearly $1, approaching $73 a barrel. The 11-month high is due to production disruptions in Nigeria, the eighth largest oil exporter, and production cuts by the Organization of the Petroleum Exporting Countries. The Vienna, Austria-based cartel controls more than 40% of the world’s oil production.
