Russell 2000 futures lower

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The Russell 2000 (NYSE:IWM) futures are down and the small-cap index will open in negative territory.

Small-cap stocks are poised for a bearish opening on news that aluminum producer Alcoa Inc. (NYSE:AA) saw its first-quarter profit decline more than expected. Investors are fearful that the economic slowdown will negatively affect corporate earnings.

The Russell 2000 had another oddly quiet, rangebound session Monday, but again stalled on the 720 area, setting up that point as important short-term resistance. The index dipped 1.05, or 0.15%, to 712.68. Today, key resistance lurks at the aforementioned 720, then again near 725 and 731. Meanwhile, support is pegged at 705.50, then at 700 and 694.

The release this afternoon of the FOMC minutes could serve up some volatility.  Normally, the minutes alone wouldn’t justify expectations for a big stock market move, but the release takes on a little more significance this week because the data slate is tame.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:


• Repligen Corp. (Nasdaq:RGEN), up 28% on news it has settled a lawsuit with Bristol-Myers Squibb Co. (NYSE:BMY).
• NutriSystem Inc. (Nasdaq:NTRI), up 20% on news of better-than-expected first-quarter revenue guidance.
• Sierra Wireless, Inc. (Nasdaq:SWIR), up 2% on news that it will buy a privately-held mobile broadband networking solutions company.


• Columbia Bancorp (Nasdaq:CBBO), down 7% on news that its first-quarter earnings will fall short of expectations.
• Secure Computing Corp. (Nasdaq:SCUR), down 7% on news of a lowered first-quarter forecast.
• Exponent Inc. (Nasdaq:EXPO), down 7%.

Kevin Pendley contributed to this report.