Small-Cap Winners & Losers: Tuesday Morning
Small-cap stocks were experiencing loses alongside the broader market as bears entered the markets on Friday. The Russell 2000 was falling 1.07% at 663.24, and the S&P SmallCap 600 was losing 1.2% to 348.67.
Recently IPO'd Energy Recovery (ERII) is seeing positive action today, moving up 8.1% to $12.69. The San Leandro, Calif.-based manufacturer of seawater desalination products was featured in a Forbes article detailing the IPO and how it has given life to the IPO market.
Tuesday Morning (TUES) was seeing negative trading action, down 23.25% to $3.07 early on Friday. Based out of Dallas, the closeout retailer of upscale furnishings was downgraded to sell from hold by Deutsche Bank. A DB analyst said in a note that Tuesday Morning's shares were trading at a premium to the average hardline share price.
Taking on gains was Momenta Pharmaceuticals (MNTA), shifting 12.1% to $1.59. Based out of Cambridge, Mass., the biotech firm specializes in the structural analysis of complex mixture drugs. On Friday, U.S. regulators agreed to review its generic drug Copaxone.Five Star Quality Care (FVE) was seeing some pain on Friday, trading downwards 9.4% to $3.84. The Newton, Mass.-based senior-living-community operator was downgraded to hold from buy by research firm Stifel Nicolaus Enjoying a Friday rally, Spansion (SPSN) tacked on 11.8% to $2.27. The Sunnyvale, Calif.-based company, which develops flash memory solutions, had coverage initiated at buy by Caris & Company. Additional recent news said that chipmaker Advanced Micro Devices (AMD) will be recording a $36 million impairment charge related to the company's short-term investments in Spansion. Air transportation provider UAL (UAUA) was taking on losses, falling 14.1% to $3.58 early on Friday. Chicago-based UAUA reported that it will record a $2.6 billion to $2.7 billion charge due to record-high fuel prices and reduced market capitalization.
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