Monday's Small-Cap Winners & Losers

Updated from 1:36 p.m. EDT with new stock prices

Small-cap stocks rose along with the broader market Monday. The Russell 2000 gained 0.7% to 687.98, and the S&P SmallCap 600 added 0.75% to 364.66.

Shares of Pittsburgh-based design automation software company Ansoft (ANST Quote) jumped 30.3% to $30.52 on news that Ansys (ANSS Quote) would buy Ansoft for $832 million, or $32.50 a share, in cash and stock.

Meanwhile, Hawaiian Holdings (HA Quote), which operates through subsidiary Hawaiian Airlines as an air transportation company, saw shares rise 14.9% to $6.00. Sector rival Aloha Airlines will be closing, and Hawaiian announced that it will accommodate travelers impacted by the shutdown. The company also said it would expand operations to fill the gap left by Aloha.

Also rising was Methode Electronics (MEI Quote), a maker of component devices using electronic and optical technologies to control and convey signals through sensors, interconnections and controls. Shares of the Chicago company surged 15.7% to $11.69 on a Robert W. Baird upgrade to outperform from neutral.

China Direct (CDS Quote), a management and consulting company that operates in China, added 4.5% to $7.50 on fourth-quarter earnings. The Deerfield Beach, Fla., company posted income of $4.7 million, or 20 cents a share, vs. $557,000, or 4 cents a share, a year ago. Two analysts surveyed by Thomson Financial were expecting EPS of 18 cents.

On the losing side, FairPoint Communications (FRP Quote) tumbled 12.1% to $9.02, at one point hitting a new 52-week low. The Charlotte, N.C.-based telecom company agreed to buy Verizon's (VZ Quote) wireline operations in New England. Goldman Sachs downgraded the stock to sell from neutral on the news.

Finally, JER Investors Trust (JRT Quote), a McLean, Va.-based real estate investment trust, fell 9.6% to $8.48 on fourth-quarter earnings. The company swung to a loss of $7.4 million, or 28 cents a share, from a profit of $9.2 million, or 36 cents a share, in the year-ago quarter. Revenue increased year over year to $34.4 million from $26.8 million. For 2008, the company expects that it may have to sell assets, which could cause a decrease in future revenue. It also predicted volatile earnings for the coming year.