Friday's Small-Cap Winners & Losers
Microvision (MVIS) was on the rise after research firm MDB Capital Group initiated coverage of the company with a buy rating. Microvision, a producer of light scanning technologies for display and imaging products, was gaining 10.3% to $3.01.
Metabolix (MBLX) was rising after naming Matthew Strobeck and Robert Van Nostrand to its board. Strobeck is a senior investment analyst at Westfield Capital Management. He previously served as a consultant to the senior economic adviser to the commissioner of the Food and Drug Administration. Van Nostrand is the senior vice president and chief compliance officer of OSI Pharmaceuticals (OSIP). Shares were up 10.6% to $19.25.
Virco (VIR) surged after the company said third-quarter sales increased 4.5% from last year and that it swung to a profit. Sales reached $73.7 million, up from $70.5 million last year. Virco earned $5.8 million, or 41 cents a share, compared with a loss of $2.2 million and 17 cents a share last year. The company said it expects to incur a loss in the fourth quarter but that it will be narrower than last year's. Shares were gaining 17.8% to $7.55.
Unifi (UFI) slumped after it cut its expectations for the December quarter. The company previously forecast earnings before interest, taxes, depreciation and amortization of $10 million to $12 million, but now it expects actual results to be less than 50% of the original guidance. Unifi was down 28.5% at $1.73.Corriente Resources (ETQ) was dropping after it said it will temporarily suspend work at its Mirador project in Ecuador because of protests near the site. After a number of ineffective talks with the protesters, the government has asked Corriente to temporarily halt its Mirador activities to help in the negotiating process. Shares were losing 13% to $3.90.
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