Small cap technology stocks might gain some investor attention this week because of two events that are likely to generate significant buzz.
First up is Apple's rollout at its World Wide Developers Conference (WWDC) of iCloud, the next generation of its music service that will keep its users' songs on servers. Then there's E3, the Entertainment Electronic Expo in Los Angeles, where all things video games take center stage.
On Friday June 3 rd , both the Russell 2000 Index and the Standard & Poor's Small Cap 600 Index lost about 1.5 percent for the day, a performance similar to the Nasdaq Stock Market. Both the Dow Jones Industrial Average and the Standard & Poor's 500 closed less than 1 percent lower.
For the week, the Russell 2000 shed 3.4 percent, while the S&P Small Cap 600 lost 3.2 percent. Despite the decline, the Russell 2000 is still up 3.6 percent for the year, while the S&P Small Cap 600 has gained 4 percent year to date.
Air Methods (Nasdaq: AIRM): The Denver-based provider of air medical emergency services across the U.S. hit a 52-week high after announcing plans to acquire competitor OF Air Holdings for $200 million.
Cascade ( CASC ): The maker of lift truck and construction equipment shot up following a stellar quarter in which earnings beat analysts' estimates by 77 percent.
Quiksilver ( ZQK ): The sports apparel maker's second-quarter earnings also beat analyst estimates and Piper Jaffray lifted the stock to overweight from buy, and raised the 12-month price target to $5.50.
GT Solar International (Nasdaq: SOLR): The solar equipment maker reached its highest level since 2008 after announcing a $460.4 million order from China for advanced sapphire crystallization furnaces, in the company's largest single contract ever.
Imperial Sugar (Nasdaq: IPSU): Shares of the processor and marketer of refined sugar in North America reached a 52-week high after it received a buy upgrade from Janney Capital Markets analysts. The dividend-paying stock is up 61 percent year-to-date.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.