Monday's Small-Cap Winners and Losers
Star Scientific (STSI) was plunging 32.4% after the Chester, Va., company lost its patent infringement case against R.J. Reynolds Tobacco regarding a process that cures tobacco without creating carcinogens.
The U.S. District Court for the District of Maryland granted summary judgment in favor of R.J. Reynolds, calling Star's claims invalid due to a "fatally indefinite" term in one of the patents-in-suit describing the conditions under which the tobacco must be cured. Star proclaimed its intent to appeal the decision. Its shares were falling 55 cents to $1.15. Shares of R.J. Reynolds' parent, Reynolds American (RAI), were up 51 cents, or 0.8%, to $64.27.
Analex (NLX), which sells software and related services to U.S. government agencies, nearly doubled on word that Britain's QinetiQ will buy it for $3.70 a share -- a hefty premium to its $1.91 closing price Friday. The Fairfax, Va.-based company was up $1.74 to $3.62.
Futuremedia (FMDAD) surged after the Britain-based communications company said it would continue to be listed on the Nasdaq, having officially regained compliance with the exchange's $1-a-share minimum bid price requirement. Shares were rising 93 cents, or 39.9%, to $3.26.e-Future Information Technology (EFUT) announced it will develop a supply-chain-management platform for health care products giant Johnson & Johnson's (JNJ) Chinese subsidiary. Terms weren't disclosed. China-based e-Future was up $6.59, or 21%, to $38. Johnson & Johnson was slipping 45 cents to $67.31.
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