Small-cap stocks underperformed the broad indices Monday and were recently sliding along with the rest of the market, even as a number of names dispatched good news.
Among the biggest gainers was California's
, which soared 17.5% to $2.35 after saying it believes it has regained compliance for listing on the
, having recently completed a 24.4 million-share public offering.
Unix-software technology company
, of Lindon, Utah, jumped 11.8% to $1.42 after announcing that Indian state Madhya Pradesh has chosen its SCO Mobile Server to develop and deploy online government services.
was sharply higher on word of a joint venture with meat purveyor
(TSN - Get Report)
, shares of which were recently flat at $23.07. The companies will form Dynamic Fuels for production of "ultra-clean, high quality, next generation renewable synthetic fuels" that will use a patented Syntroleum technology and feedstock to be supplied by Tyson.
Syntroleum gained 34 cents, or 12.3%, to $3.10, in support of the Russell 2000, but the tracker lately lost 1.1% to 825.31 as the S&P SmallCap 600 shed 1%.
Another Russell 2000 member,
True Religion Apparel
, flew higher after an analyst with CIBC World Markets upped the Vernon, Calif., jeans maker to sector outperformer, citing well-focused management and "much improved" nondenim products. Shares lifted by 8.8% at $21.37.