Friday's Small-Cap Winners & Losers
Small-cap stocks hung onto the broader market's halting climb Friday as various pieces of positive news buoyed the sector.
Limelight Networks (LLNW) was one of the biggest winners, soaring 47% to $22.05 after its initial public offering. The Tempe, Ariz., network-services company priced 16 million shares at $15 a pop, along with an underwriters' option for up to another 2.4 million shares.
Herley Industries (HRLY), of Lancaster, Pa., leapt 9.9% to $17.59 after fiscal third-quarter income vaulted to $14 million, or 27 cents a share, from 11 cents a share last year. That tops per-share estimates by a nickel, according to Thomson Financial.
Leading Brands (LBIX) rode high after the company launched a new energy drink in North America called Stoked. Shares jumped 10.7% to $4.54.
Elsewhere, grocery-store chain Spartan Stores (SPTN), based in Grand Rapids, Mich., rose on a Friedman Billings upgrade to outperform. The analyst said Wal-Mart's (WMT) recent decision to cut back on new store openings will give room for Spartan to grow. Spartan shares climbed 7.3% to $28.70; Wal-Mart recently added 0.5% to $50. And Chuck E. Cheese operator CEC Entertainment (CEC), a member of both the Russell 2000 and the S&P SmallCap 600, was raised to hold from sell at Matrix Research. The Texas-based company was up 2.2% to $38.60. The Russell 2000, which also contains Herley and Spartan, lifted 0.5% at 829.1. The S&P SmallCap was 0.3% higher at 429.02.Select the service that is right for you!
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