Friday's Small-Cap Winners & Losers
Trex (TWP) fell after saying Paul Fletcher has resigned as senior vice president and chief financial officer, effective Sept. 7. Fletcher is leaving to accept a position with a privately held technology company in the Washington, D.C., area.
Shares of Trex, a Winchester, Va., maker of composite decking, railing and fencing, was down 5.3% at $13.34.
Hill International (HINT), a Marlton, N.J., construction consulting firm, rose on news it has received a contract from the Organization for Development and Administrative Centers to provide project management services in connection with the $2 billion multicampus expansion of Al Fateh University in Tripoli, Libya.
The 28-month contract has an estimated value to Hill of roughly $55.9 million. Shares of Hill were up 5% at $7.30.AsiaInfo Holdings (ASIA), a China-based provider of telecom software and IT security products, rose after boosting its profit forecast for the third quarter ending Sept. 30. The company now expects earnings from continuing operations of 12 cents to 13 cents a share, compared with its previous guidance of 7 cents to 8 cents, thanks to higher-than-expected dividend income from a short-term investment. The company's third-quarter net revenue projection of $27 million to $29 million remains unchanged. Shares of AsiaInfo were higher by 5% at $8.32. WCI Communities (WCI) was gaining 12.3%, as investors speculated about a possible takeover. Reuters reported the luxury home and condominium builder posted formerly confidential information on its Web site that it had offered activist investor Carl Ichan when he offered to buy the company months ago. While the data's relevance is questionable, due to deteriorating home valuations, a JMP Securities analyst suggested it could spark other interested buyers. Shares were up $1 to $9.14. Teton Energy (TEC) jumped 8.8%, after the oil and gas driller announced the resignation of its CFO and changes to its board. Bill Pennington is leaving for personal reasons, but will join Teton's board of directors effective Sept. 14. Shares gained 42 cents to $5.16.
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