Russells stays steady; PRKR, TBDK, and PODD lead gainers
Small-cap stocks hovered near steady levels into mid-session trading, with support from retail, homebuilder and financial shares countered by sinking energy and technology shares. Some of today’s small-cap gainers are ParkerVision, Inc. (Nasdaq:PRKR), Tidelands Bancshares (Nasdaq:TDBK) and Insulet Corp. (Nasdaq:PODD).
Other Market Watch highlights today included:
• The slide in physical markets took a toll on energy stocks as well, with the Energy Select Sector SPDR Fund down 3.3%.
• Crude oil prices tumbled to near four-year lows amid worries about a global recession, finding little comfort in a fresh string of rate cuts
• In a familiar theme this week, homebuilder shares were still a hot item today. The ISE Homebuilders Index was up more than 7%.
• The International Council of Shopping Centers said that November sales plunged a record 2.7% on a year-over-year basis.
Small Cap Gainers:
• ParkerVision, Inc. and LG Innotek enter into joint development agreement; PRKR pops 60%. See (Nasdaq:PRKR).
• Tidelands Bancshares up 47% on light volume. See (Nasdaq:TDBK).
• Insulet Corp. rose 23% as the medical device company that specializes in diabetes continues to climb after bottoming out in late November. See (Nasdaq:PODD).
• Buckle Inc. rose 22% as the apparel and accessory merchant registered a 15% jump in comp store sales. See (NYSE:BKE).
Small Cap Losers:
• Dynamex Inc. dropped 21%, gapping lower as the delivery and logistics provider also took a lump after reporting earnings. See (Nasdaq:DDMX).
• Diamond Foods Inc. gapped lower and tumbled 20% as investors weren’t impressed with earnings results from the snack foods distributor. See (Nasdaq:DMND).
• Movado Group Inc. is down 15% as the boutique operator and fashion distributor took a hit after releasing earnings. See (NYSE:MOV).
