Wednesday's Small-Cap Winners & Losers

Cytokinetics (CYTK Quote) soared 19% after it announced it will partner with fellow California biotech Amgen (AMGN Quote) in a $75 million cash-and-stock deal for the development of small-molecule heart-failure treatments.

Cytokinetics shares were trading up $1.42 to $8.90. Amgen shares were rising $1, or 1.5%, to $69.31.

PFSweb (PFSW Quote) shares swelled on word Riverbed Technology (RVBD Quote) had hired the Texas-based outsourcer to perform, among other things, final product assembly for Riverbed's wide-area data services product lines.

PFSweb shares were jumping 30 cents, or 27.3%, to $1.40. Riverbed was up 55 cents, or 1.8%, to $31.25.

Agilysys (AGYS Quote) surged after saying it will sell its KeyLink Systems Group subsidiary to Arrow Electronics (ARW Quote) for $485 million. The transaction will probably close by March 31.

The Boca Raton, Fla.-based company will also buy back up to 6 million shares as soon as possible after the KeyLink transaction closes. Agilysys shares were up $3.17, or 18.9%, to $19.91. Arrow shares were adding 88 cents, or 2.8%, to $32.43.