Small-cap stocks traded mostly in the green Friday in concert with the major indices, and Robbins & Myers (RBN) figured prominently among the winners.
The Ohio-based company -- which makes systems for the pharmaceutical, energy and industrial markets -- swung to a profit of $13.2 million, or 77 cents a share, handily topping Wall Street estimates for 59 cents a share, as per Thomson Financial. Last year the company had a penny-a-share loss.
Robbins shares surged 10.8% to $52.92 in support of both the Russell 2000 and the S&P SmallCap 600, which were higher by 0.2% and 0.3%, respectively.
Also propping up both trackers was Ohio-based plastic-resins purveyor A. Schulman (SHLM - Get Report), which jumped 9.8% to $24.66 after posting a profit of 37 cents a share, or 27.6% higher than last year, for the quarter ended May 31. The Street had estimated 25 cents a share.On the other hand, MMC Energy (MMCE) plummeted 23.8% in unusually heavy trading after the New York-based firm priced a 9.1-million-share offering at $5.50 apiece -- a 19.1% discount to Thursday's closing price. Underwriters have an option for another 1.4 million shares to cover any overallotments; proceeds will go to energy-efficiency upgrades at a couple of its facilities, among other things. Shares were off $1.62 to $5.18. Pharmaceutical company EpiCept (EPCT), of Tarrytown, N.Y., slid 13.5% to $2.11 after agreeing to sell stock and warrants to institutional investors for gross proceeds of $10 million. EpiCept priced 5.1 million newly minted shares at $1.95 each, and 2.56 million warrants each have an exercise price of $2.93.