Small-cap stocks were buoyant Tuesday on the power of the climbing broad market and good news out of a few sectors.
United Retail Group (URGI) was a big winner, skyrocketing more than 77% on word Redcats Group agreed to buy the plus-size women's-apparel retailer for $13.70 a share -- an 81.5% premium to Monday's closing price. The $198.9 million all-cash deal should close by year-end. Shares of the Rochelle Park, N.J., company gained $5.85 to $13.40.
Nabi Biopharmaceuticals (NABI) shot up 20.9% after agreeing to sell its Biologics strategic-business unit to Germany's Biotest Pharmaceuticals for $185 million. The deal includes the unit's products, certain of Nabi's Corporate Shared Services group assets, and the company's headquarters, among other things.
After the deal closes -- likely in the fourth quarter -- Nabi will shift its headquarters to an existing facility in Rockville, Md. Shares gained 72 cents to $4.16.Meanwhile, G-III Apparel (GIII - Get Report) surged 20.2% after narrowing its fiscal second-quarter loss by nearly two-thirds from last year to a nickel a share, or $884,000. That shatters Thomson Financial's expectations for a 20-cent per-share loss. The New York-based company also added 8 cents to its full-year income outlook range, now expecting 98 cents to $1.03 a share. Analysts are seeking 95 cents. Shares were trading at $20.57.