Small-Cap Winners & Losers: Beacon Power
Small-cap stocks opened higher, along with the broader market, Wednesday only to slip back onto the losing side of the baseline. The Russell 2000 was down 0.1% at 733.48, and the SmallCap 600 slipped 0.1% to 387.85.
Shares of Air Transport (ATSG) plummeted to new lows, lately losing 43% to $1.68. The Wilmington, Ohio, provider of air cargo transportation said DHL is planning to remove from its network 39 of the 55 DC-9s provided by Air Transport's subsidiary ABX Air.
Meanwhile, United Community Financial (UCFC), the holding company for Home Savings and Loan, lost 12.3% to $6.36. The Youngstown, Ohio-based company announced a dividend of 4.75 cents a share payable June 18. The dividend represents a 50% reduction from the previous payment.
Also falling, Prospect Capital (PSEC), a New York private equity company, slipped 8.7% to $14.53. The company announced a stock offering of 3.25 million shares at $14.90 a share.On the winning side, Akeena Solar (AKNS), a Los Gatos, Calif.-based maker of solar power systems, jumped 15% to $6.77. Kaufman Brothers initiated coverage on the stock with a buy rating. Also rising, shares of Daktronics (DAKT), which makes visual displays for sports and theaters, added 14% to $18.81. The Brookings, S.D., company posted income of $5.7 million, or 14 cents a share, vs. $110.8 million, or 9 cents a share, a year ago. Analysts surveyed by Thomson Reuters were looking for 6 cents a share. Electric utility company Beacon Power (BCON) climbed 12% to $1.91. Kaufman Brothers initiated coverage on the Tyngsboro, Mass.-based firm with a buy rating. Finally, Gevity HR (GVHR), a staffing and outsourcing services provider based in Bradenton, Fla., announced a 5-cent dividend, payable July 31 to shareholders of record on July 15.
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