Monday's Small-Cap Winners & Losers

Small-cap stocks largely crested above the bullish major indices as one of the sector's biggest winners, Local.com (LOCM Quote), soared more than 65% on a patent award.

The Irvine, Calif., local-search-engine operator said this patent covers "the method of responding to enhanced directory assistance inquiries using various protocols including voice-enabled and SMS systems," as well as "an associated referral advertising model" to support the free service. Shares recently were up $2.12, or 30%, at $9.04.

Interoil (IOC Quote), an Australia-based oil-and-gas driller, rocketed 27% to $24.06 after saying that finalized documentation on a definitive shareholder agreement covering a natural-gas project in Papua New Guinea is imminent, given "major progress" in the relevant negotiations. The company was also given a monthlong extension to keep its 4% interest rate on the associated credit facility, which will hold for the life of the loan if the above-mentioned agreement is signed by July 31. Otherwise, the rate will jump to 10%, absent another extension.

Illinois-based Option Care (OPTN Quote), a specialty-pharmacy services company, flew 24.9% higher after drugstore giant Walgreen (WAG Quote) agreed to buy it for $19.50 a share in cash, or about $850 million with debt assumption. Shares were adding $3.84 to $19.24.

The Russell 2000 -- which tracks Option Care and North Pittsburgh Systems (NPSI Quote), another stock that moved higher on M&A news -- lately surged 1.1% as the S&P SmallCap 600 followed hard on its heels.