Monday's Small-Cap Winners & Losers

Solexa (SLXA Quote) surged 32% on news that it will be acquired by Illumina (ILMN Quote) for $600 million. The deal is worth $14 a share, a 45% premium over Solexa's Friday closing price. San Diego-based Illumina will also buy $50 million worth of new Solexa shares.

Solexa, a Hayward, Calif., developer of genetic-analysis technologies, also posted a third-quarter loss of $9.9 million, or 27 cents a share, compared with a loss of $10.8 million, or 43 cents a share, a year ago. Solexa was trading up $3.13 to $12.83. Illumina, meanwhile, sank on the acquisition news, trading down $4.30, or 9.8%, to $39.75.

China Automotive Systems(CAAS Quote) soared on impressive third-quarter results. The China-based company, which manufactures automotive systems and components, reported that earnings rose 40% from a year ago to $1.5 million, or 7 cents a share. Revenue climbed to $22.7 million from $14.8 million a year ago. Shares were up $1.72, or 22.2%, to $9.47.

Van der Moolen (VDM Quote) jumped on news that the Amsterdam-based stock trader will release its third-quarter results on Nov. 14, two days earlier than it had originally planned. Shares were up 52 cents, or 9.4%, to $6.07.

Isis Pharmaceuticals (ISIS Quote) shot up after the company said two studies of its experimental cholesterol treatment ISIS 301012 had positive effects on participants in the trials. When the compound was used in conjunction with stable doses of statins, patients with high cholesterol experienced a 51% reduction in low-density lipid cholesterol, a 42% decline in total cholesterol and a 41% dropoff in triglycerides beyond the levels achieved with statins alone.