Friday's Small-Cap Winners & Losers
The all-cash transaction represents a 43.5% premium over Royal Group's closing share price on the Toronto Stock Exchange of C$9.06 on Thursday. Royal Group said it has been involved in a sale process since May 25, when its board announced that it would open a data room and solicit bids. More than 30 potential bidders signed confidentiality agreements and were allowed access to the data room, with six receiving management presentations. Shares of Royal Group Technologies climbed $3.49, or 43.6%, to $11.49 in recent trading on the NYSE, while Georgia Gulf slipped $3.65, or 12%, to $26.84 recently.
Koppers Holdings (KOP), a Pittsburgh-based company which makes carbon compounds and treated-wood products, was upgraded by Jefferies & Co. to buy from hold. Shares rose $1.51, or 8.6%, to $19.18 in recent trading.
Crocs (CROX) gained after the footwear company said it had settled its patent infringement lawsuit with Acme EX-IM. The lawsuit was resolved with the entry of a consent judgment finding infringement by Acme EX-IM's "Pali Clogs," and that the Crocs' patents are valid. As part of the settlement, Acme EX-IM has agreed to not infringe Crocs' patents and trade dress in the future, and Crocs has released Acme EX-IM and its customers of any past liability. Shares of Crocs climbed $1.32, or 5.7%, to $24.42 in recent trading.Phillips-Van Heusen (PVH) gained on news the New York-based apparel company had been upgraded by Prudential to overweight from neutral. Shares climbed $1.86, or 5.4%, to $36.39 in recent trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV