It was another big day for stocks as the major indices soared on news that central banks around the world would be joining forces to add liquidity to the global financial system. After jumping 300 points on Monday, the Dow Jones Industrial Average surged a whopping 490 points today. The S&P 500 jumped 4.31% to 1,246.96, and the Nasdaq was up 4.17% to 2,620.34.
As on Monday, several small-cap stocks rode the bull market wave to huge one-day percentage gains. Fourteen small caps had better than 15% gains. Here were today’s five biggest gainers among small-cap stocks:
- FutureFuel Corp. (NYSE: FF): Fresh off a third quarter in which its revenues increased by 37%, this leading manufacturer of premium biofuels saw a 22.46% jump in its stock price today. The company announced last week that it will begin offering quarterly cash dividends starting next year, another factor that may have driven its price up so dramatically today.
- Patriot Coal Corporation (NYSE: PCX): The coal-mining stock rose 19.93% to $10.41 a share, showing signs of recovery after trading below its book value for the last week.
- TPC Group Inc. (Nasdaq: TPCG): This Houston-based chemical and petroleum producer was up 19.82% today, returning to the $24 price tag it had two weeks ago.
- MBIA Inc. (NYSE: MBI): Shares of this bond insurer were up 18.73% after Standard & Poor’s affirmed an investment grade rating of one the company’s subsidiaries, National Public Finance Guarantee Corp., which had been up in the air for nearly a full year. The prospect of a rating downgrade had loomed since January. With the bond rating affirmed, MBIA breathed a sigh of relief in the form of big gains on the market.
- Hudson Valley Holding Corp. (NYSE: HVB): The parent company of the New York-based Hudson Valley Bank was up 18.52% to $20.35 per share.