Wednesday's Small-Cap Winners & Losers
Updated from 1:20 p.m. EDT
Half of the unsecured note, which has a $10 per-share conversion price, will pay off pre-existing bonds held by Goldman. The other half will be used to speed deployment of the Norcross, Ga., company's spectrum overlay product (which boosts the bandwidth of existing cable-network infrastructure) and related services. Shares were gaining 97 cents to $8.44.
Industrial Services of America (IDSA) catapulted 23% after the Louisville, Ky., company said it earned $730,000, or 20 cents a share, in the fourth quarter compared with 12 cents a share a year ago. IDSA, which sells waste- and recycling-management services, was up $1.35 to $7.22.Micronetics (NOIZ) said a major defense OEM (original equipment manufacturer) ordered an unspecified number of its voltage-controlled oscillators for use on dual-sensor handheld mine-detection systems. Terms weren't disclosed. Shares of the Hudson, N.H., company were leaping 73 cents, or 10%, to $8.01. The Chinese government granted Origin Agritech (SEED) around $1.1 million to build a hybrid-seed production facility near Beijing, construction for which should finish by year-end. Shares were rising 46 cents, or 5.3%, to $9.13. Gaming Partners International (GPIC) dropped after the Las Vegas-based outfit said it asked for a year-end filing extension from the Securities and Exchange Commission because it's currently evaluating accounting errors expected to result in "material weaknesses." Shares were sliding $2.51, or 12.2%, to $18.10. CV Therapeutics (CVTX) tumbled again after a Citigroup analyst cut the biotech company's rating to sell from hold, citing poor results from new-indication testing of its Ranexa drug, the complete results of which were publicized Tuesday. First Albany downgraded the Palo Alto, Calif., as well -- to neutral from strong buy. Deutsche Bank had slapped on a sell rating Monday. Shares were off 67 cents, or 8.4%, to $7.29.
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