Updated from 2:22 p.m. EST with new stock prices
After a lackluster opening on Thursday, small-cap stocks rallied, posting mostly wider gains than than their broader market counterparts. The Russell 2000 climbed 2.6% to 713.29, while the S&P SmallCap 600 rose 2.7% to 375.51. Shares of Audible (ADBL Quote), a Newark, N.J.-based provider of audio content over the Internet, cranked 22.4% higher to $11.42 on news that Web retail giant Amazon.com (AMZN Quote) would buy the company for $300 million, or $11.50 a share. Also amped up on exceptional volume was Kodiac Oil & Gas (KOG Quote), shares of which blasted up 14.9% to $2.01. The Denver-based driller announced it had entered into an agreement with Devon Energy (DVN Quote), creating an area of mutual interest for exploration, leasing and development of Kodiac's Vermillion Basin, Wyo., properties. Interactive Intelligence (ININ Quote), an Indianapolis-based maker of software for voice over Internet protocol (VoIP), reported fourth-quarter non-GAAP earnings of $3.1 million, or 16 cents a share, vs. $2.1 million, or 11 cents a share, in 2006. Analysts polled by Thomson Financial were expecting a per-share loss of a penny. Revenue for the quarter gained 23% from the year-ago period to $29.3 million. Shares gained 20.5% to $16.38. Several small-caps had a far more downbeat day. After the close Wednesday, Morrisville, N.C.-based Harris Stratex (HSTX Quote), a maker of wireless networking products, reported non-GAAP second-quarter income of $12.1 million, or 21 cents a share, on revenue of $181.1 million. Analysts polled by Thomson Financial were expecting EPS of 24 cents. Shares broke down 24% to $10.89. BluePhoenix Solutions(BPHX Quote) likewise got rocked, losing 17.3% to $14.91 on fourth-quarter earnings. The Israeli developer of enterprise information technology posted non-GAAP income of $4.3 million, or 21 cents a share, compared with $1.4 million, or 10 cents a share, a year ago. The company beat the Street's projections by a penny, but its revenue of $22.7 million fell short of the average analyst estimate of $24.3 million.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
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