Wednesday's Small-Cap Winners & Losers
Small-cap stocks largely slung under the major indices Wednesday, and one of the worst-performing names was XTL Biopharmaceuticals (XTLB).
The Valley Cottage, N.Y., firm plunged 17.2% to $2.92 on news it had suspended development on its XTL-2125 compound, a proposed treatment for hepatitis C, after an early-phase study yielded statistically insignificant results in drug efficacy.
Angeion (ANGN), which makes noninvasive cardio-respiratory diagnostic systems, forecast reduced profitability for the fiscal third and fourth quarters vs. last year due to dwindling revenue from its largest clinical-research customer. Despite positive results for the most recent quarter, shares of the St. Paul, Minn., company lost 13.1%, or $1.42, to $9.42.
Meanwhile Georgia-based Matria Healthcare (MATR) said it will end its short-lived relationship with insurer Wellmark Blue Cross & Blue Shield at year-end. The collaboration, which began in only February, had been originally slated to last for 10 years. Shares slid 6.3% to $29.42.Matria helped take down with it both the Russell 2000 and the S&P SmallCap 600, which respectively gave up 0.9% and 1.1%. Apparel maker Oxford Industries (OXM), also a member of both indices, sank 3.5% to $42.66 after cutting its outlook for the fiscal fourth quarter and full year. Adjusted earnings for the quarter, now predicted at 96 cents to $1.01 a share, would miss Thomson Financial's estimates by at least 2 cents. Prior guidance had called for $1 to $1.07 a share.
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