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Small-Cap Snapshot: Oxford Industries erases early losses to edge higher; SendGrid Inc climbs on cybersecurity device

Published: 16:51 12 Dec 2018 GMT

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Apparel leader Oxford Industries Inc (NYSE:OXM) shares wiped out losses in early trade from investor pessimism about the retail sector to edge higher ahead of the release of its results later on Wednesday.

Oxford owns and markets lifestyle brands such as Tommy Bahama, Lilly Pulitzer and Southern Tide, among others.

Many companies in the retail sector have been struggling because of competition from e-commerce behemoths such as Amazon.com Inc (NASDAQ:AMZN).

Oxford stock was down 1.2% to $73.07 before clawing its way to $74, up 0.1%, by midday on Wednesday.

SendGrid Inc (NYSE:SEND) stock climbed after announcing its device would increase cybersecurity, privacy transparency and promote the cause of inbox protection.

SendGrid’s Inbox Protection Rate measures the success of its compliance efforts to prevent malicious email from reaching SendGrid’s approximately 2 billion email recipients.

As of December 12, 2018, SendGrid said it achieved a 99.97% legitimate email rate across all of its outbound mail flow.

SendGrid stock rose 7.5% to $47.97.

READ: The Hain Celestial Group shares pop after reaching SEC settlement over dodgy financial reporting practices

Berkshire Hills Bancorp Inc (NYSE:BHLB) shares slumped after the company said it had agreed to buy the SI Financial Group in Willimantic, Connecticut.

Berkshire said it will pay $180 million in stock for the $1.6 billion-asset parent of Savings Institute Bank and Trust.

SI Financial has 23 branches in eastern Connecticut and Rhode Island.

Berkshire Hills stock was trading at $29.35, down 6.2% for the day.

Uxin Ltd (NASDAQ:UXIN) stock soared after announcing a successful start to its market place on a subsidiary of e-commerce giant Alibaba Group (NYSE:BABA).

Uxin said it facilitated more than 2,000 used-car transactions on the company's new Uxin Taobao Marketplace store during the first 18 hours of Taobao's Double 12 Shopping Festival, the company said.

Uxin is China's largest used car e-commerce platform.

The stock is up 33.5% to $7.85 in New York.

Contact Rene Pastor on rene.pastor@proactiveinvestors.com

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