Monday's Small-Cap Winners & Losers
Omni Energy Services (OMNI) surged following the company's improved guidance. Omni now expects this year's earnings from continuing operations to be 74 cents to 78 cents a share. Revenue should be more than $90 million. Shares of Omni jumped 16.1% to $8.30.
KongZhong (KONG) said Chief Financial Officer J.P. Gan plans to resign. Gan expects to pursue a career in venture capital and investment. He will remain in his current position until Dec. 31. Shares of KongZhong were up 25 cents, or 3.5%, at $7.44.
Generex Biotechnology (GNBT) was climbing on word that Cardinal Health (CAH) will distribute its new Glucose RapidSpray product in the U.S. The RapidSpray is designed for people who require or want additional glucose in their diet. Generex was adding 11.3% to $1.58.
Southwest Georgia Financial (SGB) was higher by nearly 15% after the company said it would start a tender offer to repurchase up to 575,000 of its shares at a price of $23 each. The number of shares to be repurchased represents roughly 18% of its stock outstanding, and the purchase price is a 19% premium to the closing price of $19.40 on Sept. 14. Southwest Georgia was gaining $2.88 to $22.28.Continucare (CNU) fell following its latest fourth-quarter report. Revenue rose 24% to $36.2 million, but earnings from operations fell to $1.3 million from $4 million a year ago and net income slid to $1.1 million, or 2 cents a share, from $11.2 million, or 21 cents a share, last year. Shares were losing 16 cents, or 5.6%, to $2.68. Eastern American Natural Gas Trust (NGT) was weaker after Ensource Energy Income Fund terminated its offer for the company. The offer expired on Friday, and the minimum tender condition wasn't satisfied. Eastern's shares were down $2.62, or 9.2%, to $25.88.
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