Russell 2000 futures up
The Russell 2000 (NYSE: IWM) futures are higher but the small-cap index will be weighed down by news of a decline in U.S. housing starts.
Housing starts in November declined 3.7% to a seasonally adjusted annual rate of 1.187 million, according to the U.S. Census Bureau. Economists were expecting a slightly steeper decline.
November housing starts are 24.2% below the revised annual rate of 1,565,000 units in November 2006.
The same report also showed that building permits, a sign of future construction, fell 1.5% to an annual rate of 1,152,000. That decline is in line with economists’ projections.
The numbers tell us that the housing situation remains dire and the sector remains in a slump.
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:
• Visicu Inc. (EICU), up 32% on news it is being bought by Royal Philips Electronics NV for $430 million.
• Waste Industries USA, Inc. (WWIN), up 21% on news it will be taken private by an investor group for $544 million.
• iRobot Corp. (IRBT), up 15% on news it has received a $286 million contract from the Army.
Biggest percentage losers:
• Internet Gold Golden Lines Ltd. (IGLD), down 3%.
• The Bon-Ton Stores, Inc. (BONT) down 3%.
• China Techfaith Wireless Communication Technology Ltd. (CNTF) down 2%.
