Tuesday's Small-Cap Winners & Losers
Small-cap stocks strayed far behind the sliding major indices Tuesday, and one of the worst performers was Inovio Biomedical (INO).
The San Diego-based company plummeted 36% to $2.20 after halting patient enrollment in both of its late-phase pivotal studies on an investigational therapy called selective electrochemical tumor ablation (SECTA). An independent data-monitoring committee noted, among other things, that the mortality rate among the head- and neck-cancer patients treated with SECTA was higher than among those who underwent surgery.
Shares of North American Scientific (NASI), which likewise makes cancer-treatment products, slid 18% to $1.23 after the California-based company's second-quarter revenue fell 22.9% year over year to $6.2 million, even though per-share losses halved to 11 cents.
Women's apparel retailer Cache (CACH) sank 12.2% after it slashed guidance for the rest of the year to fall far short of Wall Street expectations. Cache shares fell $1.98 to $14.26 and weighed on the Russell 2000 index, which recently gave up 0.8% at 848.27.Internet-protocol-video semiconductor Sigma Designs (SIGM), another Russell 2000 member, tumbled 8.3% after an analyst with American Technology Research maintained his sell rating on the stock. He cited the company's predicted slowdown in sequential sales growth, which he attributes to mounting customer pressure on Internet-protocol TV pricing, as well as "looming" competitive threats. Despite positive results for the most recent quarter, Sigma shares lost $2.40 to $26.68.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV