Wednesday's Small-Cap Winners & Losers
Despite a few leaping tech names, small-cap stocks once again slunk behind the broad indices Wednesday.
But BladeLogic (BLOG), a data-center automation-software company, catapulted 45.2% to $24.69 after its initial public offering of 5 million shares, 3.94 million of which are being sold by the company itself. Underwriters have an option for another 750,000 shares.
Supertex (SUPX), a Sunnyvale, Calif., semiconductor firm, jumped 13.6% despite coming in just under top- and bottom-line expectations for the fiscal first quarter, and semiconductor-equipment maker Semitool (SMTL) was higher after posting a small break-even loss for the quarter ended June 30 on revenue of $46.6 million. Thomson Financial's estimates had it losing 2 cents a share, and two analysts predicted sales of $45.5 million.
Supertex shares were up $4.41 to $36.91 as Montana-based Semitool gained 13% to $10.20, each in support of the Russell 2000, which was up 0.2% to 813.07. The S&P SmallCap 600, which counts Supertex as a member, was up marginally at 426.99.GPC Biotech (GPCB) was among Wednesday's worst losers overall, however, after a Food and Administration advisory panel unanimously recommended that the FDA wait for more information before approving its prostate-cancer drug satraplatin. Shares of the Germany-based company plummeted 34.6% to $13.32 as partner Spectrum Pharmaceuticals (SPPI) slid 17.1% to $3.98. Pharmion (PHRM), which has some commercialization rights to the drug, gave up 1.2% to $24.32.
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