Small-cap stocks moved in lockstep with the rest of the market Friday, starting things off with a slide followed by a slight midday recovery on a fairly even mix of positive and negative news from various sectors.
Trading volume exploded at Seattle's
Cutter & Buck
, vaulting shares up 21.9% to $14.18, after the casual-apparel maker agreed to
New Wave Group
for $156.5 million.
Likewise for wireless provider
, based in Minnesota, soared some 22% to $17.25 on preliminary results showing improvement in operating income, revenue and customer numbers.
, a medical-equipment maker, said it began shipping its first batch of 24/7 fuel-cell Power Pack products to
today. Shares recently jumped $2.77, or 15.1%, to $21.06.
Another medical-device maker,
, gained 4% to $39.30 on a Lazard upgrade to buy from hold, and
erased some of Thursday's losses (induced by downward guidance) after Matrix Research raised the fitness-equipment maker to hold from strong sell. Shares were up 4% to $14.21.
On the other hand, several small-cap names were sliding on negative analyst research. American Technology Research slapped a sell rating on hard-disk maker
, citing the fact that its biggest customer,
, has recently deflated its sales guidance and will probably outsource less of its disk production. Komag shares fell 50 cents, or 1.6%, to $30.70. Seagate was recently off a penny to $21.73.