The small-cap indices were on the rise today with both the Russell 2000 hitting an all-time intraday high and the S&P 600 seeing slight gains.
Loxo Oncology Inc (NASDAQ:LOXO) was a top gainer of the day after its cancer drug showed promise in an early trial. Its drug LOXO-292 is an oral medicine used to treat patients who developed cancer as a result of an abnormality in the RET gene where the genes fuse together and lead to accelerated cancer cell growth. In the preliminary trial, 70% of patients saw tumor shrinkage. Shares of the Connecticut-based pharma company jumped more than 20% to US$167.47.
Wrestling fans may be watching the Smackdown franchise on a new network soon. World Wrestling Entertainment Inc (NYSE:WWE) shares soared after reports that the media company was in talks with other networks about its wrestling franchise after NBCU declined to renew the deal, according to a Hollywood Reporter story. NBC will focus on renewing WWE's Raw franchise. Shares of the company were up nearly 16% to US$50.38.
Commercial jet lending company Aircastle Ltd (NYSE:AYR) saw its shares plummet after announcing a secondary offering of its common shares. The Ontario Teachers’ Pension Plan, one of the largest profession pension plans in Canada, is selling 7.9 million shares of the company. The company will not receive any of the proceeds. Shares were down nearly 8% to US$21.25.
Shares of Jack in the Box Inc (NASDAQ:JACK) fell after the fast-food chain reported lower-than-expected fiscal second-quarter results, missing on earnings and sales. The company recently completed the sales of its Mexican food subsidiary Qdoba in a US$305mln cash deal with Apollo Global Management, the parent company of Chuck E. Cheese and other restaurant brands. Shares of the California-based company were down nearly 7% to US$85.44.