Thursday's Top Performing Small Cap Stocks (WWWW, ATSG, NSIT, MDS, FIRE) - Air Transport Services Gr (NASDAQ:ATSG)

The economy weighed heavily on U.S. stocks on Thursday, as many observers wondered if the country was on the verge of entering a double-dip recession.

Still, a few small-cap stocks managed to defy Wall Street's massive meltdown, offering some bright spots in an overall dismal market.

Yesterday the Russell 2000 lost 5.95 percent in value, while the Standard & Poor's Small Cap 600 shed 5.22 percent.

The Dow Jones Industrial Average was off 4.31 percent, the Standard & Poor's 500 fell 4.78 percent and the Nasdaq Stock Market lost 5.08 percent. Even gold and other commodities, including oil, trended lower.

Some technology stocks were among the handful of Russell 2000 members that finished the day higher, and all of those moves were earnings related.

Thursday's Top Performing Small Cap Stocks (Data provided by Google Finance)

Web.com Group WWWW: Despite the sell-off, the Internet services provider soared on a 70 percent second-quarter jump in revenue and the announcement that it would acquire privately held Network Solutions in a $423 million cash-and-stock deal.

Air Transport Services Group ATSG: A leading provider of aircraft leasing and air cargo transportation services reported a 21 percent increase in second-quarter revenue and a 24 percent rise in pre-tax income after restructuring key agreements with one of its biggest customers.

Insight Enterprises NSIT: The global purveyor of computer hardware, software and related services posted a 38 percent rise in non-GAAP earnings (up 29 percent in GAAP measures), as revenue grew 16 percent. NSIT also issued stronger guidance for the second half of the year.

Midas MDS: The automotive-services retailer reported its second-quarter profit more than doubled to $2.1 million, as the company-owned shops returned to profitability and franchise royalty fees increased.

Sourcefire FIRE: The cyber security vendor swung to a second-quarter loss after one-time charges, but before those adjustments the results beat analysts' expectations. Sales of software and services rose 19 percent. UBS analysts upgraded the stock from neutral to a buy, with a $32 price target.

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