Excerpt from our One Page Annotated Wall Street Journal Summary (get it e-mailed to you every morning by signing up here):
SMALL STOCKS: Tweeter Home, Citi Trends Fall; Hot Topic, Golf Galaxy Advance
- Summary: Tweeter Home Entertainment (NYSE:TWTR) dropped 12% on reporting lower sales; Citi Trends (NASDAQ:CTRN) fell 17% on disappointing comparable-store sales growth; Deb Shops (DEBS) also dropped 12% upon poor same-store performance and cutting its yearly earnings guidance; Hot Topic (NASDAQ:HOTT), however, jumped 11% on a surprisingly strong comp-stores report; software company Openwave (OPWV) collapsed 33% upon reporting preliminary 4Q results well below estimates; Collectibles company Escala Group (ESCL) jumped 44% to $6.40 upon reporting strong auctions sales. The Russell 2000 index of small-cap stocks gained 0.79 point, or 0.11%, to 720.64.
- Comment on related stocks/ETFs: In related smallcap activity, William Trent notes that Valassis in Talks to Buy Advo (AD, VCI). Phillip Davis recently noted that Sotheby's could gain from Escala's troubles -- but now it seems Escala is back on track.