Monday's Small-Cap Winners & Losers
Hyperdynamics (HDY) surged after the Sugar Land, Texas, oil exploration company said it signed a new agreement with the Republic of Guinea in West Africa to investigate a region with "exceptional potential" for oil and gas, according to seismic data. Shares were gaining 42 cents, or 17.5%, to $2.82.
Sirva (SIR) rose after the Chicago-based relocation-services provider sold $75 million worth of convertible debt to two shareholders and gave one of the holders two board seats. Shares climbed 23 cents, or 9.2%, to $2.73.
Educate (EEEE) soared after the Baltimore-based education company got a nonbinding management buyout proposal valued at $8 a share. Shares gained $1.06, or about 15%, to $8.12.
Warrior Energy (WARR) took off following news the Columbus, Miss.-based well-services company will be bought bySuperior Energy (SPN)for $358 million in cash and stock. Shares of Warrior Energy gained $9.46, or 66%, to $23.80, while Superior Energy dropped $3.75, or 14.3%, to $22.43.FortuNet (FNET) stumbled after the Las Vegas gaming-machine company forecast that its third-quarter earnings would be about half of the year-ago figure. The company said it expects sales in the third quarter to increase over last year. Shares slipped $1.24, or 10.6%, to $10.42. Revlon (REV) fell after the New York-based cosmetics company said it will cut 250 positions, or about 8% of its workforce, and discontinue Vital Radiance. The company expects charges of about $29 million. Also, Revlon expects third-quarter sales to range from $280 million to $290 million, with a loss of about $135 million. For the full year, the company expects sales of about $1.3 billion, with adjusted earnings of $75 million to $85 million and an operating loss of around $45 million to $55 million. Shares dropped 12 cents, or 9.7%, to $1.12.
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