The economy weighed heavily on U.S. stocks on Thursday, as many
observers wondered if the country was on the verge of entering a
double-dip recession.
Still, a few small-cap stocks managed to defy Wall Street's massive
meltdown, offering some bright spots in an overall dismal market.
Yesterday the Russell 2000 lost 5.95 percent in value, while the
Standard & Poor's Small Cap 600 shed 5.22 percent.
The Dow Jones Industrial Average was off 4.31 percent, the Standard
& Poor's 500 fell 4.78 percent and the Nasdaq Stock Market lost
5.08 percent. Even gold and other commodities, including oil,
trended lower.
Some technology stocks were among the handful of Russell 2000
members that finished the day higher, and all of those moves were
earnings related.
Thursday's Top Performing Small Cap Stocks (Data provided by
Google Finance)
Web.com Group (Nasdaq: WWWW)
: Despite the sell-off, the Internet services provider soared on a
70 percent second-quarter jump in revenue and the announcement that
it would acquire privately held Network Solutions in a $423 million
cash-and-stock deal.
Air Transport Services Group (Nasdaq: ATSG)
: A leading provider of aircraft leasing and air cargo
transportation services reported a 21 percent increase in
second-quarter revenue and a 24 percent rise in pre-tax income
after restructuring key agreements with one of its biggest
customers.
Insight Enterprises (Nasdaq: NSIT)
: The global purveyor of computer hardware, software and related
services posted a 38 percent rise in non-GAAP earnings (up 29
percent in GAAP measures), as revenue grew 16 percent. NSIT also
issued stronger guidance for the second half of the year.
Midas (
MDS
)
: The automotive-services retailer reported its second-quarter
profit more than doubled to $2.1 million, as the company-owned
shops returned to profitability and franchise royalty fees
increased.
Sourcefire (Nasdaq: FIRE)
: The cyber security vendor swung to a second-quarter loss after
one-time charges, but before those adjustments the results beat
analysts' expectations. Sales of software and services rose 19
percent. UBS analysts upgraded the stock from neutral to a buy,
with a $32 price target.