Tuesday's Small-Cap Winners & Losers
CVR Energy (CVI) offered 20 million shares at $19 a pop, along with a 3-million-share underwriters' option. Shares of the Texas-based fuel refiner were climbing 8.6% to $20.64.
General Steel (GSI), a China-based steel manufacturer, rode high after pegging third-quarter income at $7 million to $7.5 million on revenue of $300 million to $340 million. The analyst who follows the company is seeking a $7 million profit on revenue of $286.5 million. Shares were up $1.43, or 12.2%, to $13.17.
And Copernic (CNIC) had a quick rise on news that it has added an Apple (AAPL) iPhone/iPod Touch-optimized user interface to its Copernic Mobile software, which allows users to search and access PC-based content from their mobile devices.
The Canada-based company said it's "actively working to license the product to wireless operators." Shares spiked 20.1% to $3.40.On the same token, education-travel company Ambassadors (EPAX) plummeted 43% after saying that net enrolled participants for its 2008 travel programs are down 29.8% from comparable numbers this time last year. The Spokane, Wash., outfit believes this will impact earnings along with "inflationary pressures on future program costs" such as the weakening dollar and airline-fuel surcharges, among other things. Ambassadors additionally came in above third-quarter top- and bottom-line estimates, but shares still dwindled $17.17 to $22.78.
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