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.
Likewise for wireless provider Rural Cellular (RCCC), based in Minnesota, soared some 22% to $17.25 on preliminary results showing improvement in operating income, revenue and customer numbers. Medis Technologies (MDTL), a medical-equipment maker, said it began shipping its first batch of 24/7 fuel-cell Power Pack products to Microsoft today. Shares recently jumped $2.77, or 15.1%, to $21.06.
Another medical-device maker, ArthroCare (ARTC), gained 4% to $39.30 on a Lazard upgrade to buy from hold, and Nautilus (NLS) 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 Komag (KOMG), citing the fact that its biggest customer, Seagate Technology (STX), 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.