Small cap stock indices climbed higher on Thursday, thanks to news including an acquisition and better-than-expected results from retailers and a rising star tech company.
But the holiday-shortened week is headed towards a rocky finish, as Friday morning's report on the June employment data was discouraging about the pace of the U.S. economic recovery.
The two leading small cap indices easily outperformed the large caps again on Thursday. The Russell 2000 Index closed the day up 1.52 percent, while the Standard & Poor's Small Cap 600 Index finished with a 1.39 percent increase. By comparison, the Dow Jones Industrial Average ended the day 0.74 percent higher, the S&P 500 was up 1.05 percent, and the Nasdaq Stock Market finished with a 1.36 percent gain.
APAC Customers Services APAC: The provider of customer care services agreed to a $470 million acquisition offer from OneEquity Partners, an investment unit of JPMorgan Chase.
OCZ Technology Group OCZ: The maker of solid state drives for computers reported revenue more than doubled and posted adjusted net income of 1 cent per share. It predicted a full-year revenue rise of at least 65 percent. The share price has jumped 210 percent in the past year.
Bebe Stores BEBE: The women's apparel retailer reported fiscal fourth-quarter sales and same-store sales both rose 7 percent. The stock is up 30 percent year-to-date.
Achillion Pharmaceuticals ACHN: The developer of treatments for infectious diseases has seen its shares rise 280 percent in the past year, and last month had a successful sale of 1.44 million more shares that raised $60.9 million.
Hot Topic HOTT: The teen retailer reported its same-store sales rose 0.4 percent, with same-store sales at its Torrid chain for overweight teens rising 7 percent. Analysts were expecting a decline.
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The two leading small cap indices easily outperformed the large caps again on Thursday. The Russell 2000 Index closed the day up 1.52 percent, while the Standard & Poor's Small Cap 600 Index finished with a 1.39 percent increase. By comparison, the Dow Jones Industrial Average ended the day 0.74 percent higher, the S&P 500 was up 1.05 percent, and the Nasdaq Stock Market finished with a 1.36 percent gain.
Thursday's Top Performing Small Cap Stocks (Data provided by Capital IQ)
APAC Customers Services APAC: The provider of customer care services agreed to a $470 million acquisition offer from OneEquity Partners, an investment unit of JPMorgan Chase.
OCZ Technology Group OCZ: The maker of solid state drives for computers reported revenue more than doubled and posted adjusted net income of 1 cent per share. It predicted a full-year revenue rise of at least 65 percent. The share price has jumped 210 percent in the past year.
Bebe Stores BEBE: The women's apparel retailer reported fiscal fourth-quarter sales and same-store sales both rose 7 percent. The stock is up 30 percent year-to-date.
Achillion Pharmaceuticals ACHN: The developer of treatments for infectious diseases has seen its shares rise 280 percent in the past year, and last month had a successful sale of 1.44 million more shares that raised $60.9 million.
Hot Topic HOTT: The teen retailer reported its same-store sales rose 0.4 percent, with same-store sales at its Torrid chain for overweight teens rising 7 percent. Analysts were expecting a decline.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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