Wednesday's Small-Cap Winners & Losers
Ceco Environmental (CECE) jumped on news of two orders for its air pollution control systems, totaling more than $55 million, for automotive facilities in the Southeast and in the Midwest. The Cincinnati-based company was up 92 cents, or 10.3%, to $9.89.
Biomira (BIOM) rose after the Canadian biotech announced it had opened two drug trials to patient enrollment. One of these -- an advanced-phase trial for Stimuvax, a proposed treatment for lung cancer -- will trigger a milestone payment from Merck upon enrollment of its first patient. This is expected to occur sometime in January. Shares were gaining 11 cents, or 9.7%, to $1.25.
Trans World Entertainment (TWMC) shares slid as the Albany, N.Y.-based retailer sharply cut its full-year outlook after a disappointing holiday shopping season. The company, which operates such chain stores as Sam Goody, f.y.e. and Coconuts, now forecasts earnings between break-even and a nickel a share, down from its previous range between 10 cents and 20 cents. Analysts polled by Thomson Financial are looking for 6 cents a share. Shares were down 50 cents, or 7.6%, to $6.08.
NetBank (NTBK) fell after the Georgia-based online bank privately sold 6.5 million of its shares for $3.90 each, a discount to its $4.64 closing price Friday. Total proceeds are expected at about $23.7 million. The transaction will likely close at the end of the week. Shares were off 33 cents, or 7.1%, to $4.31.
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