Small-cap futures rise
The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open in positive territory.
The earnings season continues to march on, with attention this morning focused on Motorola Inc. (NYSE: MOT). The Schaumburg, Ill.-based telecommunications giant reported a third-quarter profit, its first in 2007, and announced a better-than-expected outlook for the fourth quarter.
In other news, orders for durable goods, which are intended to last at least three years, fell 1.7% in September, according to the U.S. Commerce Department. Economists were expecting a rise of 1.5% following a revised decline of 5.3% in August.
Silver lining came in the form of a 0.4% increase in orders for non-defense capital goods excluding aircraft, after a rise of 1.8% in August. That measure is a key barometer of business spending.
At 10 a.m. ET, the U.S. Commerce Department will release the numbers on new homes sales in September. Economists are expecting to see a 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:
• Transcend Services Inc. (TRCR), up 17% on news of record third-quarter earnings.
• iRobot Corp. (IRBT), up 14% on news of a higher 2007 revenue outlook.
• ZOLL Medical Corp. (PLCE), up 12%.
Biggest percentage losers:
• Spartan Motors Inc. (SPAR), down 19% on news of a decline in third-quarter profit.
• Heelys Inc. (HLYS), down 11% on news of a lower third-quarter outlook.
• Triad Guaranty Inc. (TGIC) down 10% on news of a third-quarter loss.
