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S&P SmallCap 600 in Focus: FLE TRX



By AP
07 July 2008 @ 12:43 pm EST

NEW YORK - The Standard & Poor's SmallCap 600 Index was nearly unchanged at midday Monday, with RV maker Fleetwood Enterprises Inc. taking the biggest hit and Tronox Inc. leading the gainers.

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The S&P 600 lost 1.26 points to 350.69. The index tracks stocks with a market capitalization between $300 million and $2 billion.

Fleetwood Enterprises plunged 34 cents, or 14.9 percent, to $1.94 after touching an all-time low of $1.82 earlier in the session. Shares of recreational vehicle makers have declined sharply recently due in part to record-high gasoline prices.

Shares of Bankrate Inc. tumbled $3.52, or 10.7 percent, to $29.49 after the Web-based consumer banking and personal finance company cut its 2008 revenue forecast to a range below Wall Street estimates. The stock hit a three-year low of $25.05 earlier in the session.

Regional bank Umpqua Holdings Corp. gave up $1.06, or 9.7 percent, to $9.87 after falling as low as $9.79, a trade not seen since 2001.

Among the gainers, pigment maker Tronox Inc. added 13 cents, or 5.7 percent, to $2.42.

Century Aluminum climbed $3.72, or 6.4 percent, to $61.60. Late Thursday, Davenport & Co. analyst Lloyd T. O'Carroll upgraded the aluminum producer to "Buy" from "Neutral," saying shares are attractively priced, especially given the rise in aluminum prices.

Nutritional supplement maker Mannatech Inc. advanced 39 cents, or 7.3 percent, to $5.70.

Small-cap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into big-cap stocks.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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