Thursday's Small-Cap Winners & Losers
Tarrant Apparel Group (TAGS) was surging on word it signed an agreement to acquire clothing designer Buffalo Group. The purchase price of up to $120 million consists of cash, promissory notes, shares, earn-out payments and the possibility of a contingent payment, plus the assumption of debt.
Buffalo Group had revenue for the first nine months of fiscal 2006 of $75 million. It had revenue of $104 million for fiscal 2005. Tarrant expects the acquisition to add to its 2007 earnings. Shares of Tarrant were up 21% to $1.61.
Hurco (HURC) was climbing after its fourth-quarter sales reached a record, rising 24% from a year ago. Sales totaled $43.2 milllion. Net income for fourth quarter fell to $4.7 million, or 74 cents a share, from last year's $7.2 million and $1.13 a share.
Hurco, a maker of software and computerized machine tools for the metal-cutting and metal-forming industry, was gaining 12.1% to $29.20.MFRI (MFRI), a maker of piping systems, filtration products and thermal-transfer equipment, was rising after it said sales for the third quarter advanced 63% from last year. Revenue for the quarter rose to $64.2 million from $39.4 million in the prior year. Net income for the third quarter was $2.7 million, or 48 cents a share, up from last year's $788,000, or 15 cents a share. Shares of MFRI rose 12.6% to $24.32.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV