Updated from 2:34 p.m. EDT with new stock prices
Small-cap stocks climbed along with the broader market Thursday, and specialty retailers were among the biggest gainers. The Russell 2000 added 2.6% to 762.87, and the S&P SmallCap 600 climbed 2.3% to 401.86.
Among the winners, Hot Topic (HOTT Quote), a teen apparel retailer based in City of Industry, Calif., announced that same-store sales for May fell 0.2%. Analysts surveyed by Thomson Reuters had expected a 2.4% decline in same-store sales. Friedman Billings also upgraded the stock to outperform from market perform. Hot Topic shares added 16.9% to $6.16.
New York specialty retailer Cache (CACH Quote) tacked on 14.4% to $14.58. The company reported a 5% increase in same-store sales for May. A year ago, same-store sales declined 2%. Roth Capital upgraded the stock to buy from hold. ...
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