Small-Cap Winners & Losers: Verasun Energy
Small-cap stocks were experiencing mixed trading alongside the broader markets early Friday. The Russell 2000 was falling .05% to 696.31 while the S&P SmallCap 600 was gaining .13%, at 365.02.
Overstock.com (OSTK) was taking a beating in early trading action Friday, lowering 28.8% to $19.70. The Salt Lake City, Utah-based online discount retailer reported losses for the second quarter of $6.5 million, or 28 cents per share. This was a vast improvement year-over-year which Overstock reported losses of $13.8 million, or 58 cents a share.
One lighter than normal volume, Cubic (CUB) was edging 6.6% higher to $25.86 in today's market action. The San Diego, Calif.-based manufacturer of defense electronics and transportation fare collection systems was upgraded by BB&T Capital markets to buy from hold.Announcing it has priced a public offering of approximately 11.2 million shares of its common stock, Microvision (MVIS) was dropping 20.67% to $2.38 Friday. The Redmond, Wash.-based technology company specializes in developing miniature display and imaging engines. SemGroup Energy (SGLP) fell 20.1% to $2.21 early Friday. The Tulsa, Okla.-based provider of storage, gathering and transportation services for crude oil producers announced today it is having liquidity issues. SemGroup said it is considering filing for Chapter 11 bankruptcy.
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