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 Quote), 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 Quote), 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 Quote) was sharply higher on word of a joint venture with meat purveyor Tyson Foods (TSN Quote), 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 Quote), 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.