Monday's Small-Cap Winners & Losers
Small-cap stocks generally traded beneath the major indices for most of the day, although the Russell 2000 and the S&P SmallCap 600 were both recently up around 0.1%.
Among the individual winners was BluePhoenix Solutions (BPHX), which vaulted 13% after the Israel-based information-technology company said non-GAAP earnings surged 50% to 18 cents a share, or $3.4 million, in the third quarter. That tops Thomson Financial's estimates by a penny a share. Revenue surged 34.1% to a better-than-expected $23 million. Shares gained $2.48 to $21.49.
China's e-Future Information Technology (EFUT) also had a sharp rise after announcing that its ONE Visual Process Management system was "successfully" launched in Sino Rubber Electronic Exchange. Shares were soaring 22.8% to $25.45.
And Arizona Star Resource (AZS) jumped 22.8% on word Barrick Gold (ABX) will offer to buy the Canada-based gold-and-copper miner for $811.1 million (C$773 million) in cash, or roughly $18.89 a share. Arizona Star was changing hands at $18.70. Barrick climbed $1.01, or 2.4%, to $44.06.But Champion Enterprises (CHB) slid 11.7% after the housing company proposed to offer $130 million in convertible senior bonds. The underwriter, Credit Suisse, will have an option for another $19.5 million worth in order to cover overallotments. Champion says proceeds will, among other things, go to repurchasing $82.3 million in outstanding senior bonds due 2009. A tender offer for those was also launched this morning. Shares were off $1.52 at $11.52.
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