Take-Two Rises 8.7%; Ambac, MBIA Decline
Small stocks fell as mounting economic worries pulled the plug on a videogame celebration.</br></br>The Russell 2000 index of small-capitalization stocks fell 7.8 points, or 1.02%, to 759.97; the Standard & Poor's SmallCap 600 shed 3.62, or 0.91%, to 395.15.</br></br>Shares of videogame makers powered up after large-cap Activision and Vivendi's game unit agreed to a combination. Take-Two Interactive Software rose $1.30, or 8.7%, to $16.28.</br></br>"I don't know if we're going to tumble into a recession under the classic definition, but we're certainly in pullback, or slowdown mode," said Georges Yared, chief investment strategist at Yared Investment Research, after some soft manufacturing data. "When you look at spending, whether it be automotive or large-ticket items, consumers have pulled back."</br></br>Jakks Pacific rose 1.33, or 5.3%, to 26.57 after winning a crucial round in its legal tangle with World Wrestling Entertainment. A federal court dismissed the Stamford, Conn., wrestling promoter's suit related to how Jakks originally obtained a WWE toy license. World Wrestling Entertainment fell 12 cents to 15.64 on the New York Stock Exchange.