Wednesday's Small-Cap Winners & Losers
Corillian (CORI) rocketed more than 45% after the company, which sells Internet-based software to financial services firms, agreed to sell itself to electronic payment processor CheckFree (CKFR) for $5.15 a share, or roughly $245 million. The deal will likely close around June 1. Oregon-based Corillian was rising $1.57 to $5.02. Checkfree shares were dipping 42 cents, or 1%, to $41.20.
Cumberland Resources (CLG) shot up 23.3% on word fellow Canadian gold miner Agnico-Eagle Mines (AEM) will buy it in a stock swap that values Cumberland around $608.9 million. Cumberland was up $1.38 to $7.33. Agnico-Eagle was losing 84 cents, or 2%, to $40.38.
SPSS (SPSS) jumped after the analytical-software company said fourth-quarter operating income spiked 36% to $11.7 million from a year ago; excluding a large noncash income tax charge, per-share earnings totaled 43 cents. Revenue rose 14% year over year to $71.1 million. Analysts polled by Thomson Financial were looking for 34 cents a share on revenue of $67.5 million. Shares of the Chicago-based company were up $4.91, or 15.4%, to $36.79.
San Diego, Calif., biotech Halozyme Therapeutics (HTI) announced an expansion of its existing Hylenax-recombinant agreement with medical-products maker Baxter (BAX). The deal now allows Baxter to use Hylenax with its small-molecule drugs, for which the former will pay Halozyme $10 million upfront and buy $20 million worth of Halozyme equity, in addition to possible milestone payments and royalties. Halozyme shares were gaining $1, or 12.7%, to $8.85. Baxter was edging up 17 cents to $50.11.
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