Thursday's Small-Cap Winners & Losers
Tech stocks figured prominently among small-cap movers Thursday as several names served up announcements of new deals.
Business-software developer Mobius Management Systems (MOBI) soared nearly 32% to $9.79 after agreeing to sell itself to Allen Systems. The $10.05-a-share cash offer represents a 35% premium over the stock's closing price Wednesday. Shares of ClickSoftware Technologies (CKSW) leapt 13.3% to $3.71 after the company inked a service-optimization deal with a "leading document management company."
GigaBeam (GGBM), meanwhile, announced that the gigahertz frequencies in which its WiFiber products operate are being opened for commercial use in the United Arab Emirates and Australia. The Virginia-based company has already sold a WiFiber link to its Australian distributor and expects to further deploy its technology in those areas. Shares were up 53 cents, or 17%, to $3.65.
Among other small-caps moving higher, Collegiate Pacific (BOO) added 13% to $8.41 after the mail-order company said its fiscal third-quarter sales should rise 6.5% to around $63 million, just about meeting Street expectations, as per Thomson Financial. Apogee Enterprises (APOG) posted 32-cent per-share earnings from continuing operations, beating targets by 4 cents. The glass-products maker climbed 6.8% to $23.04.Richardson Electronics (RELL), however, sank after the electronics distributor posted fiscal third-quarter revenue of $160.1 million, which was $5.2 million below two analysts' projections. Shares were sinking 81 cents, or 8.5%, to $8.77.
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