Monday's Small-Cap Winners & Losers
Small-cap stocks leapt higher Monday amid soaring names such as Furniture Brands International (FBN).
Shares vaulted 32.9% after Samson Holding disclosed that it and several affiliates might consider buying out the St. Louis-based, company. The investor group, which already owns a sizable stake, also said Furniture Brands declined a merger proposition earlier this year.
Furniture Brands says it mulled over the proposal and requested more information, without which it has "been unable to adequately evaluate the merits of Samson's indication of interest."
Shares of the furniture maker gained $3.34 to $13.48 to help prop up the Russell 2000, which recently surged 17.35 points, or 2.2%, to 822.8. The S&P SmallCap 600 performed similarly.Allied Healthcare International (AHCI) was another small-cap winner after selling two subsidiaries, Allied Respiratory and Medigas, for roughly $74.7 million in cash to Air Liquide of France. Shares of the New York-based health-care staffer rocketed 30.9% to $3.13. China's Yucheng Technologies (YTEC), meanwhile, bounced nearly 17% after striking three contracts with China Construction Bank valued at around $8.9 million for call-center integration, as well as upgrading and expanding the bank's national credit-card call center. Yucheng shares were up $1.60 to $11.20. SXC Health Solutions (SXCI), an information-technology purveyor for the health-care industry, sliced at least 8 cents off its fiscal 2007 profit forecast to between 51 cents and 55 cents a share. The Lisle, Ill., company also trimmed its revenue guidance down to between $92 million and $93 million. Analysts polled by Thomson Financial are seeking revenue of $96 million. Shares lost $2.97, or 18.5%, to $13.05.
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