Russell 2000 futures climb
The Russell 2000 (NYSE: IWM) futures have moved up and the small-cap index will open in the green.
Investors are waiting to see what kind of relief President Bush will offer to borrowers at risk of losing their home. The plan will most likely feature a temporary hold on low mortgage rates that would otherwise increase sharply with time.
In economic news, the number of unemployment claims for the week ended Dec. 1 was 338,000, a decrease of 15,000 from the previous week’s upwardly revised figure of 353,000, according to the U.S. Labor Department. Economists were expecting to see a slightly larger decline.
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:
Biggest percentage gainers:
• Hoku Scientific, Inc. (HOKU), up 33% on news it will borrow up to $185 million for the construction of a polysilicon production plant.
• Pain Therapeutics, Inc. (PTIE), up 14% on news a drug trial met its endpoint.
• DURECT Corp. (DRRX), up 14% on news of a successful drug trial.
Biggest percentage losers:
• BioCryst Pharmaceuticals, Inc. (BCRX), down 10% on news it has decided to discontinue a drug trial.
• Advanta Corp. (ADVNB) down 4%.
• Force Protection, Inc. (FRPT) down 3% on news of an unfavorable article published about the company.
