Small-Cap Winners & Losers: InterDigital
Updated from 12:52 p.m. with new stock prices
Small-cap stocks were experiencing modest gains alongside the broader market as bulls entered the markets early Tuesday. The Russell 2000 was gaining 3.6% at 682.07, and the S&P SmallCap 600 was rising 3.1% to 358.98.
Shares of Altair Nanotech (ALTI) were ticking higher by 33.1% to $1.93 during Tuesday's trading session. The Reno, Nev.-based developer of nanomaterial and titanium dioxide pigment technologies publicized the completion of a demonstration and validation program for a new battery system purchased by AES Corporation (AES). In a Yahoo! Finance interview, Terry Copeland, the president and CEO of Altair, said that the "positive AES results validate the immense opportunities in the utility sector."
San Diego-based discount retailer PriceSmart (PSMT) advanced 27.2% to $23.43. It reported a significant increase in profits vs. a year earlier for the quarter ending May 31, with net income rocketing to $10.6 million, or 36 cents per share, from $5.2 million, or 8 cents a share. The warehouse club operator cited a litigation settlement and higher club revenues as advancing gains. If that was not enough, PriceSmart also said its June same-store sales rose 20%.Rubicon Minerals (RBY) rose 13.6% to $1.34 in early trading hours. The Vancouver, Canada-based gold exploration company hit bonanza grade gold in its F2 Zone located in Red Lake, Ontario. In a Rubicon press release, David Adamson, president and CEO said that "it is encouraging to see that the major components documented at the Red Lake Mine are present at the F2 Zone." Experiencing pain on Tuesday, shares of InterDigital (IDCC) were falling 22.8% to $19.51. The King of Prussia, Pa.-based developer of wireless technologies announced that its hearing against Samsung Electronics began today. InterDigital claims that Samsung has been involved in unfair trade practices after selling and importing certain 3G handsets and components that infringe on five of InterDigital's patents.
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