Wednesday's Small-Cap Winners & Losers
Canada Southern Petroleum (CSPLF) surged on news that Petro Canada's (PCZ) Nosara Holdings unit increased its offer to acquire the company to $13 a share, up from an earlier offer of $11 and topping Canadian Oil Sands Trust's June 30 bid of $11.10. Canada Southern Petroleum was gaining $1.73, or 14.8%, to $13.40 recently.
Fronteer Development Group (FRG) strengthened after the company said that Aurora Energy Resources, in which it holds a 49.3% interest, reported new wider and higher-grade drill intersections that continue to expand the Michelin uranium deposit. Shares of Fronteer Development Group, which engages in the acquisition and exploration of mineral properties, gained 51 cents, or 11.6%, to $4.89.
Wegener (WGNR), a provider of products for TV, audio and data-distribution networks, jumped 22% following its latest quarterly earnings report. The company said revenue for the third quarter rose to $6.6 million from $4.3 million a year ago. Wegener earned $138,000, or 1 cent a share, vs. last year's loss of $620,000, or 5 cents a share. Shares were higher by 26 cents to $1.40.
Retalix (RTLX) retreated after the software provider said it would see lower-than-expected results for the second quarter because of delays in the delivery of several projects. The company said revenue should be above $44 million, while it expects to lose 8 cents to 13 cents a share. Analysts polled by Thomson First Call are looking for earnings of 21 cents a share on revenue of $51.3 million. "We believe that the second half of 2006 will be stronger, and therefore, reaffirm the guidance that we have set for full year 2006," the company said in a press release. Shares lost $3.43, or 16.7%, to $17.10.Smart & Final (SMF) stumbled after the food warehouse operator said second-quarter income dropped from a year ago. Earnings totaled $5.8 million, or 18 cents a share, down from $8.1 million, or 25 cents a share, a year ago. Sales increased 2% to $493.7 million. Smart & Final said the latest results included a charge of 2 cents a share for costs associated with the company's assessment of strategic alternatives. Shares fell $1.23, or 7.5%, to $15.27 in recent trading.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV