Strategic Diagnostics: Small-Cap Winner
NEW YORK ( TheStreet) -- Bio-tech company Strategic Diagnostics (SDIX) was the biggest gainer among small-caps in Wednesday afternoon trading. Shares were skyrocketing 42% to $2.63 after it said that the U.S. Food and Drug Administration approved its RapidCheck Salmonella test for poultry use.
The RapidCheck test helps egg producers identify Salmonella in the environment before it contaminates the egg, reducing the chance of egg recalls.
Earlier in the day, stocks jumped nearly 70% to $3.13, its highest level in over two years.
Jewelry retailer Zale (ZLC) was up 32% to $5.32 after it reported same-store sales rose 7.5% in November and December, after dropping 12% during the same period a year-ago. Other jewelry retailers have also reported strong sales in the holiday season. According to a Wall Street Journal report, the company may consider selling its Piercing Pagoda chain to New York private-equity firm Apollo Global Management.Video game provider Majesco Entertainment (COOL) saw its stock jump 25% to $1.15. The company announced that it has sold more than 500,000 units of its "Zumba Fitness" interactive video game for Wii, Kinect and PlayStation Move motion controller to retailers nationwide. The video game has become one of Majesco's fastest-selling titles. Helios & Matheson North America (HMNA), ZBB Energy (ZBB) and Radio One (ROIA) were among the other stocks that were topping the winners list. Leapfrog Enterprises (LF), maker of educational toys, said it expects current-year results to fall short of expectations. Net income per share is expected to be between 3 cents and 6 cents, significantly lower than analyst estimates of 28 cents. Demand for toys slowed down after a strong start in the holiday season. The company reports fourth-quarter results on Feb.10. KV Pharmaceuticals (KV-A) plunged 23% to $1.76 after it said that it was "evaluating its liquidity outlook," in light of an expected delay in the drug regulator's approval of Gestiva, a drug used in the treatment of preterm birth in women. Shares of Constar International (CNST) were sinking 14% to 68 cents after the company filed its second bankruptcy in two years. The company said it had reached an agreement with 75% of its senior debt holders for a restructuring agreement that included reducing its debt of $220 million by $125 million to $150 million. The company emerged out of bankruptcy only in May 2009. Thoratec (THOR), PAB Bankshares (PABK) and Stealth Gas (GASS) were other stocks dominating the losers list in afternoon trading. -- Written by Shanthi Bharatwaj in New York
>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV