Bloomberg News

Diodes, Esmark, Hooker Furniture: U.S. Small-Cap Equity Movers

June 11, 2008

The Russell 2000 Index fell for a fourth day, dropping 2 percent to 717.88. The Standard & Poor's 500 Index (SPX), whose companies have a median market value 21 times larger than the Russell 2000's, declined 1.7 percent. The stock indexes have lost 6.3 percent and 9.1 percent, respectively, this year.

Amerigroup Corp. (AGP:US) fell 14 percent, the most since March 19, to $23.36. The provider of managed health care for low- income Americans suspended its annual profit forecast and said medical costs in Tennessee have been higher than expected.

Central Garden & Pet Co. (CENT:US) tumbled 39 percent, the most since February 2007, to $4.29. The seller of Pennington grass seed and Sevin bug killer said it's ``less optimistic'' that it will report higher earnings than last year because it has been unable to offset rising grain costs with price increases.

Diodes Inc. (DIOD:US) rose 7.9 percent, the most since April 16, to $29.67. The maker of electronic components used in computers and DVD players said second-quarter revenue will be higher than previously forecast because of contributions from Zetex Plc, which it bought June 9.

Esmark Inc. (ESMK US) added 7.1 percent, the most in three weeks, to $19.98. Mumbai-based Essar Steel Holdings raised its offer for the steel distributor by 12 percent to thwart a bid by OAO Severstal, Russia's largest steelmaker.

Hooker Furniture Corp. (HOFT:US) had the steepest loss in a year, dropping 15 percent to $17.43. The furniture retailer predicted ``sluggish'' business for the rest of 2008 as the weakening U.S. economy reduces consumer spending.

Rex Energy Corp. (REXX:US) gained 6.3 percent to $28.75, the highest since shares began trading last July. The oil and gas company was recommended by CNBC ``Mad Money'' host Jim Cramer, who called the company a ``wildcatter'' because of its potential to find new oil in the Marcellus Shale region.

Sonic Solutions Inc. (SNIC US) had the steepest drop since August, losing 12 percent to $6.75. The maker of software for producing video discs forecast first-quarter sales below analysts' estimates.

Stanley Inc. (SXE:US) rose the most since May 15, adding 8.5 percent to $33.20. The contractor for the U.S. State Department said it will buy Oberon Associates Inc. for $170 million in cash to add military technology support.

To contact the reporter on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net.

To contact the editor responsible for this story: Chris Nagi at chrisnagi@bloomberg.net


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Companies Mentioned

  • CENT
    (Central Garden and Pet Co)
    • $8.51 USD
    • -0.01
    • -0.12%
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