NEW YORK (TheStreet) -- Danver Bancorp (DNBK) was the biggest gainer among small-cap stocks, after People's United Financial (PBCT) said it was acquiring the Massachusetts Bank in a cash-and-stock transaction valued at $493 million. The stock was shooting up 26% to $21.52.
Meanwhile, two law firms, Briscoe Law Firm and Powers Taylor are investigating claims against the board of directors including the fairness of the proposed transaction to shareholders and breaches of fiduciary duty.
Auto parts company Pep Boys - Manny, Moe & Jack (PBY) soared 18% to $14.60 on a Bloomberg report that it is exploring a possible sale of the company and is working with Bank of America to explore strategic options. It is looking at drumming up interest from private equity players, the report said.
Shares of BioLase (BLTI) were up by another 11% Friday, after nearly doubling on Thursday on its higher revenue forecast. The company issued annual revenue guidance for 2011 in the range of $55 million to $60 million, representing a growth of approximately 120% to 140% over 2010.Dean Foods (DF) saw its shares rise 3.7% to $10.23 after hedge fund titan David Tepper of Appaloosa Management said he was bullish on the stock on CNBC's Squawk Box Friday morning. Shares of SMART Modular Technologies (SMOD) surged 7% to $6.06 after Wedbush Securities upgraded the stock to outperform. Shares of Corcept Therapeutics (CORT) were climbing 8.4% to $4.28. The company announced the pricing of an underwritten public offering of 10 million shares of its common stock at a price of $3.90 per share. Shares of Boyd Gaming (BYD) rose 3.4% to $11.90 on an upgrade from Argus Research. Evergreen Energy (EEE), Level-3 Communications (LVLT) and LDK Solar (LDK) were among the other gainers on Friday morning trading. -- Written by Shanthi Bharatwaj in New York
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