Small-cap stocks stumbled out of the gate Monday, faltering along with the broader market. The Russell 2000 lost 1.4% to 737.47, and the S&P SmallCap 600 gave up 1.3% to 390.07.
Novato, Calif.'s Sonic Solutions (SNIC Quote), which develops and markets computer software, stumbled 8.7% to $8.77 on a Canaccord Adams downgrade to hold from buy. Medical Action (MDCI Quote), a Hauppauge, N.Y.-based maker of disposable medical products, tumbled 5% to $12.61. Jessup & Lamont downgraded the stock to neutral from buy. In the previous trading session Friday, the company missed fourth-quarter earnings expectations. On the winning side, Brigham Exploration (BEXP Quote), which explores, develops and produces oil and natural gas, saw shares jump 14.7% to $16.71. The Austin, Texas-based firm announced completion of two additional Vicksburg wells and another successful Williston Basin Red River well. Utility company Active Power (ACPW Quote), which is based in Austin, Texas, announced that one of the largest subsidiaries of the China National Power Grid had ordered eight of its PourHouse containerized computer power systems. Terms weren't disclosed. The stock climbed 7 cents, or 5%, to $1.47. Shares of biotech company Abiomed (ABMD Quote) added 15.6% to $17.09. The company announced the Food and Drug Administration approved its Impella 2.5 heart pump.- Loading Comments...
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