Small Cap pushes lower Thursday morning; CRYP, CLC, and NUAN lead gainers
Small-cap stocks opened flat, but pushed lower amid concerns about banking stocks, which rekindles fears of the credit crunch. In addition, tech stocks were soft, which played into the selling tone. Some of today’s small-cap gainers were CryptoLogic (Nasdaq:CRYP), Clarcor Inc. (NYSE:CLC) and Nuance (Nasdaq:NUAN).
Other Market Watch highlights today included:
• Crude oil prices tumbled some $0.90 a barrel ahead of the U.S. stock market open, which was a reversal in trend from modest gains seen in European trading.
• Compared to 2006, foreclosure filings were up 225%.
• RealtyTrac reported that foreclosures soared 41% in December versus year-ago levels and for the year foreclosure filings were up 81%.
• Technology shares were in retreat mode overnight, but opened up much better than feared.
Small Cap Gainers:
• CryptoLogic up 22% in pre-market after reporting that Q4 trading is in line with expectations. See (Nasdaq:CRYP).
• Clarcor Inc. is up 9%, getting an earnings-related lift. See (NYSE:CLC).
• Warburg Pincus to purchase $175 million in Nuance common stock; Nuance shares climb over 8% in pre-market. See (Nasdaq:NUAN).
• American Science and Engineering up 5% in pre-market after receiving $67.1 million U.S. government order for ZBV military trailers. See (Nasdaq:ASEI).
Small Cap Losers:
• ArthroCare Corp. gapped lower and tumbled nearly 37% amid news that the surgical product maker will be de-listed from the Nasdaq exchange. See (Nasdaq:ARTC).
• Trimble cuts Q4 revenue outlook; shares fall 15% in pre-market. See (Nasdaq:TRMB).
• Cynsosure Inc. gapped lower and fell 13% as the maker of medical treatment systems for aesthetic procedures released preliminary results. See (Nasdaq:CYNO).
• Red Robin Gourmet Burgers Inc. is down 12% and has been sinking fast the last several sessions. See (Nasdaq:RRGB).
