NEW YORK (
TheStreet) -- Mortgage insurance companies
(MTG) were the biggest gainers in the small-cap space Friday as the
The report proposed that the Federal Housing Administration, which competes with private firms selling mortgage insurance, should cover fewer loans and raise prices. That would give private insurers such as Radian and MGIC a chance to compete more effectively in the market.
Shares of Radian were soaring 13% to $7.99 with nearly 14 million shares changing hands in afternoon trading. MGIC Investment saw its stock jump 10%. The stock of another mortgage insurer, PMI (PMI), also saw heightened volume activity at nearly 12 million shares, but rose by a more modest 2.5% to $3.33.
Biotech company Neurocrine Biosciences (NBIX) was surging 9% to $8 after it swung to a profit in the fourth quarter on higher research and development and licensing payments and issued a higher-than-expected forecast for 2011 .The company earned $2.5 million, or 4 cents a share, on revenue of $13.7 million, meeting expectations on profit but outpacing top line estimates. The company expects profit in 2011 between 62 cents and 71 cents per share on revenue between $75 million and $80 million. Analysts expect 41 cents in profit on $69.4 million in revenue, on average. Shares of independent oil and gas company Hyperdynamics (HDY) climbed 8% to $7.91 after brokerage firm Rodman & Renshaw initiated coverage on the stock with an outperform rating. Apparel maker Jones (JNY) saw its shares jump 5% to $13.99.
>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.
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