Small-Cap Winners & Losers: Entravision
Updated from 2:07 p.m. EDT with new stock prices
Small-cap stocks suffered a selloff Friday, reflecting a downward slide in the broader market. The Russell 2000 shed 3% to 740.70, and the S&P SmallCap 600 lost 2.9% to 390.40.
Among the losers, MRV Communications (MRVC) fell 24.2% to $1.44. The Chatsworth, Calif., semiconductor company said it may restate results following a review of its stock-option practices from 2002 through the first quarter of 2004.
Also sliding, shares of Entravision (EVC) gave up 18.3% to $4.72. Citigroup downgraded the Santa Monica, Calif.-based Spanish-language media company to hold from buy.Shares of GeoResources (GEOI), a Houston-based oil and natural gas company, tumbled 17.8% to $23.17. The firm announced a 1.53 million-share private stock offering priced at $22.50 a share. On the winning side, a buyout bid lifted Tumbleweed Communications (TMWD), shares of which skyrocketed 45.2% to $2.57. Sopra Group said its Axway subsidiary is buying Tumbleweed, a Redwood City, Calif.-based provider of managed file transfer, email security and identity validation products, for $138 million, or $2.70 a share. ExpressJet (XJT), which operates Continental Express Airlines, climbed about 9% but is now trading up about 1% at $1.97. The Houston-based company announced it reached a seven-year capacity deal with Continental Airlines (CAL). The contract allows ExpressJet to fly for other carriers and explore strategic alternatives. China Architectural Engineering (RCH) announced it will begin trading on the Nasdaq under ticker symbol "CAEI" on June 10. Shares climbed 7.6% to $9.91 on the Amex Friday.
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