The small-cap sector plodded downward along with the major indices Monday despite a number of high-riding tech stocks.
Among these was Phazar (ANTP), which rocketed some 38% in an explosion of trading after the communications equipment maker swung to a fiscal first-quarter profit of $176,000, or 8 cents a share, compared with a year-ago loss of 4 cents a share. Revenue hiked up 69.2% to $1.9 million. Shares of the Texas-based company gained $2.88 to $10.45.
China's Telestone Technologies (TSTC) bounced after China Mobile (CHL) said the company's WFDS (wireless fiber distribution system) technology "reached and exceeded the performance standards" required by TD-SCDMA networks -- a 3G standard in China -- based on recent testing.
China Mobile added that the technology "holds an obvious advantage over traditional 2G indoor wireless coverage systems" in a number of areas. Shares of Telestone ramped up 10.5% to $7.76.Lumera (LMRA) jumped 11.3% to $4.23 after the Bothell, Wash., company launched its 40 Gbps (gigabits per second) polymer modulator for optical transmission systems, which the company says it will market as a "superior and reliable alternative to crystalline materials." Fellow Washington-based company InfoSpace (INSP), meanwhile, agreed to sell its mobile-services business to Motricity for $135 million in cash. A "significant" chunk of this is planned for a special dividend after the deal closes, which will probably be within the next three months. Shares added $1.22, or 6.7%, to $19.35.