July 14th: Top Performing Small Cap Stocks (UFPI, BTH, UTEK, GLUU, JAZZ)


The stock market has remained in a holding pattern all week, as traders wait to see what kind of a compromise Congress and the White House can reach over federal spending as the August 2nd deadline looms large.

While the major small cap stock indexes don't show it, there were plenty of big moves Thursday as investors found positive signs spread among the ruins. Three of the top five performers all hit 52-week highs, and a management change helped the day's top small cap stock, Universal Forest Products, post a healthy 21 percent increase despite a 69 percent profit drop in the second quarter.

The Russell 2000 Index lost 1.63 percent in value and the Standard & Poor's Small Cap 600 dropped a similar 1.64 percent. While the Nasdaq Stock Market dropped 1.22 percent, two other major U.S. stock indexes held their ground a little better - the Dow Jones Industrial Average closed 0.44 percent lower, and the Standard & Poor's 500 was off 0.67 percent.

Thursday's Top Performing Small Cap Stocks (Data provided by Google Finance)

Universal Forest Products (Nasdaq: UFPI)
: The supplier of wood and wood-alternative products to home centers and the modular housing and other construction markets lifted the paper and wood products sector. Shares rose despite a 69 percent earnings drop on weak retail sales, but it announced a new CEO was coming in.

Blyth ( BTH ) : The maker of home accessories and fragrances climbed to a 52-week high after Chairman and CEO Robert Goergen said in a regulatory filing that he and other insiders now own 37 percent of outstanding shares, which they purchased because they viewed them as undervalued.

Ultratech (Nasdaq: UTEK) : The chip-equipment maker shot up after several analyst reports indicated that they believe the company is well-positioned in the sagging semiconductor supplier sector, especially in emerging markets. Q2 financial results are due out next Thursday morning.

Glu Mobile (Nasdaq: GLUU) : The maker of games for mobile phones hit a new 52-week high as it continued to ride the wave created by Electronic Arts' $1.3 billion acquisition of competitor and Plants vs. Zombies developer PopCap. GLUU is up 400 percent in the past year.

Jazz Pharmaceuticals (Nasdaq: JAZZ) : Shares of the developer of treatments for neurological and psychiatric disorders reached a 52-week high. Piper Jaffray initiated coverage with an overweight rating, crediting the "significant pricing power" potential that narcolepsy drug Xyrem carries.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: BTH , GLUU , JAZZ , UFPI , UTEK

Wyatt Investment Research

Wyatt Investment Research

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