Small-cap stocks ultimately got locked in with the two trailing major indices -- the S&P 500 and the Dow Jones Industrial Average -- despite a number of upward-propelling deals and acquisitions.
Michigan's Tecumseh Products (TECUA Quote), for example, catapulted 51.7% on late Tuesday's news it will sell most of its electrical-components business operations to Regal Beloit (RBC Quote) for $220 million in cash. Proceeds are planned for substantial debt payoff; the transaction will probably close in the third quarter.
Tecumseh shares, up $8.17 to $23.97, lent support to the Russell 2000 along with Regal Beloit, which added 2.5% at $48.46 also as a member of the S&P SmallCap 600. Still, both indices spent most of the day underwater and were each virtually flat in recent trading. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,340.15 | 1,099.09 | 2,184.85 | 34.95 |
Oil *
72.51
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DOWN
100.97
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10.09
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22.06
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DOWN
1.01
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10 Yr
3.50%
SPDR Gold
108.12
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-0.97%
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-0.91%
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-1.00%
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-2.81%
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