US SMALL/MIDCAPS-Earnings, analysts lift consumer and energy

By Chuck Mikolajczak

NEW YORK, Oct 21 (Reuters) - Strong earnings from Gentex Corp (GNTX.O) and Tupperware Brands Corp (TUP.N) boosted consumer stocks on Wednesday while positive analyst comments helped lift energy shares.

Midcap Gentex surged 19.3 percent to $17.32 after the auto parts maker posted a better-than-expected rise in third-quarter profit and forecast a strong increase in revenue for the fourth-quarter as U.S. automakers seek to build inventories after production cuts this summer. For details, see [ID:nN21489442]

Food storage container maker Tupperware jumped 10.4 percent to $48.57 after reporting better-than-expected earnings on cost cuts and strength in the Asian Pacific region, while also boosting its full-year outlook. [ID:nN19404144]

The S&P MidCap Consumer Discretionary index .4GSPD rose 1 percent.

"The possibility for a surprise in the market could be in the consumer discretionary sector, where expectations are still very, very low," said John Canally, investment strategist and economist for LPL Financial in Boston.

Oceaneering International Inc (OII.N) gained 4.7 percent to $60.34 after Jefferies & Co raised its price target by $9 to $69, saying the firm continues to expect rising deepwater rig activity to drive strong demand for the oilfield services provider's products and services over the next few years.

Smallcap Holly Corp (HOC.N) climbed 4.8 percent to $32.76 after the petroleum refiner disclosed in a filing with the Securities and Exchange Commission that it was currently in negotiations to increase the size of its $300 million credit agreement.[ID:nWNAB1715]

BMO Capital also raised its price target on Holly to $30 from $24 and lifted its 2010 earnings per share estimate.

The S&P MidCap Energy index .4GSPE added 2.2 percent while the S&P SmallCap Energy index .6GSPE gained 1.9 percent.

Both the S&P MidCap 400 index .MID and the S&P SmallCap 600 index .SML gained 0.6 percent, outperforming the large cap S&P 500 index .SPX, which rose 0.4 percent.

(Reporting by Chuck Mikolajczak; additional reporting by Leah Schnurr; Editing by Kenneth Barry)