Small-cap stocks traded lower on Monday, breaking from two of the major indices to align with the sinking Nasdaq for most of the day before seeing an afternoon slump below even those levels.
Contributing to this trend were Sigma Designs (SIGM Quote) and GTX (GTXI Quote), which were each hit with negative analyst research.
Sigma, a maker of silicon-based media processors, lost 12.4% to $23.43 after American Technology Research cut its rating to sell, citing higher competition from likeminded Chinese companies. In the case of GTX, a Leerink Swann & Co. analyst said flaws in an advanced-phase study of the biotech's prostate-cancer treatment, Acapodene, might complicate proving the drug's effectiveness. The analyst lowered GTX's rating to market perform from outperform, pressuring shares down $2.96, or 13.2%, to $19.51. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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