Friday's Small-Cap Winners & Losers
Cygne Designs (CYDS) surged after its second-quarter sales jumped 11-fold and it swung to a profit after losing money last year. Net sales for the second quarter were $45.1 million, up from $4.1 million in the same period a year ago. Cygne earned $2.4 million, or 9 cents a share, reversing a loss of $426,000, or 3 cents a share, a year ago. Shares were gaining $1.46, or 46%, to $4.66.
Methode Electronics' (METH) board has authorized the company to buy back as many as 3 million common shares through April 2008. The board also declared a quarterly dividend of 5 cents a share, to be paid on Oct. 31 to stockholders as of Oct. 13. Shares of the electronics-components maker were up 64 cents, or 7%, to $9.67.
Syntroleum (SYNM) advanced following word that its ultra-clean jet fuel will be tested in a B-52 flight demonstration next week at Edwards Air Force Base in California. Syntroleum's shares were up 76 cents, or 18.2%, to $4.93.
The shares of Superior Well Services (SWSI) were higher after KeyBanc Capital Markets/McDonald raised its rating to aggressive buy from buy. Superior was up $1.65, or 9.7%, to $18.68.International Assets Holding (IAAC) sank 13.5% following its announcement that it will issue $27 million of senior subordinated convertible notes due 2011. The stock was dropping $3.24 to $20.73. Secure Computing (SCUR) dropped after Friedman Billings Ramsey cut its rating on the stock to market-perform from outperform. Secure was falling 72 cents, or 10.3%, to $6.27. American Mold Guard (AMGI) fell for a second day in the wake of its third-quarter sales warning. The company was expecting sales of $3.1 million to $3.6 million for the quarter, but it now believes it will have $2.1 million to $2.3 million. American Mold Guard was losing 28 cents, or 10.4%, to $2.42.
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