Tuesday's Small-Cap Winners & Losers: DivX
Small-cap stocks tried to rally early Tuesday, but soon found themselves back in losing territory along with the major indices. The Russell 2000 slipped 2.6% to 704.86, and the S&P SmallCap 600 likewise fell 2.6% to 365.17.
There were some winner's in the day's mixed trading. San Diego-based DivX (DIVX), which makes video compression software, jumped 9.1% to $14.01 after announcing it had inked a content distribution deal with Sony Pictures Television to offer downloads of Sony Pictures content to next-generation DivX devices. Terms of the deal were not disclosed.
Also sitting pretty was Helen of Troy (HELE), shares of which sailed up 14% to $17.11 after Jeffries upgraded the Bermuda maker of women's beauty products to buy from hold.
On the other hand, things got ugly for skin rejuvenator Isolagen (ILE), whose share price withered away 73% to 65 cents on news that CEO Nicholas Teti will be pursuing other interests. CFO Declan Daly will be taking over his duties, while Teti will remain chairman of the board and a consultant.Meanwhile, shares of Centennial Communications (CYCL) lost 16% to $7.38 on earnings for its fiscal second quarter ended Nov. 30. The Wall, N.J., wireless and broadband provider posted continuing operations income of $1.5 million, or a penny a share, vs. $1 million, or a penny a share, in 2006. Analysts polled by Thomson Financial were expecting 6 cents a share. Finally, bond insurer Security Capital Assurance (SCA) dropped 24% to $2.41 as Morgan Stanley, citing turmoil in the bond market, cut profit forecasts for the Bermuda-based company and fellow insurers Ambac (ABK) and MBIA (MBI).
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