Small caps generally finished the session lower, but the Russell
2000 Index and S&P Small Cap 600 Index both fared better than
most of the large-cap indices. The Russell was down 0.09 percent,
while the Standard & Poor's Small Cap 600 shed 0.2 percent. The
S&P 500 Index, by comparison, was off 0.34 percent.
Despite the overriding negative sentiment, there were a number
of individual bright spots in the market, ranging from government
consultants to travel companies. Not coincidentally, the Nasdaq
Index (where many small caps are traded) finished higher.
Yesterday's Top Performing Small Cap Stocks (Data
provided by Capital IQ)
Hill International (
): The project management company's shares soared nearly 60 percent
after the announcement that it had won contracts worth $1.5 billion
to help build a large residential development in Iraq.
Orbitz Worldwide (NYSE: OWW): A Chicago court ruling went in
favor of the online travel company, which is involved a lingering
battle with American Airlines. Now Orbitz can resume listing
American's flights and sell tickets. Shares popped 29 percent.
Corinthian Colleges (Nasdaq: COCO): The for-profit education
company led the sector higher after the U.S. Department of
Education issued "gainful employment" rules that were weaker than
expected. Shareholders rejoiced at the 26.8 percent rally.
Horizon Lines (
): The financially strapped ocean transportation company said it
has struck a deal with holders of its 4.25 percent convertible
senior notes that will help it restructure all of its $680 million
in debt. The day before, the NYSE said HRZ was no longer in listing
compliance. Shares ended the day nearly 20 percent higher.
Ener1 (Nasdaq: HEV): The maker of high-capacity lithium-ion
batteries for government, military and commercial uses such as
solar and wind systems popped, we believe on speculation of
increasing demand as many nations reconsider nuclear energy's
viability to generate power. Even after yesterday's 15 percent
move, HEV is still down 63 percent this year.
Read more about trending stocks on our
Small Cap Investor Blog