Monday's Small-Cap Winners & Losers
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 A.P. Pharma (APPA), which soared 17.5% to $2.35 after saying it believes it has regained compliance for listing on the Nasdaq, having recently completed a 24.4 million-share public offering.
Unix-software technology company SCO (SCOX), 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.
Alternative-energies company Syntroleum (SYNM) was sharply higher on word of a joint venture with meat purveyor Tyson Foods (TSN), 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 (TRLG), 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.
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