NEW YORK (
) -- Shares of technology solutions provider
were soaring 35% to $18.95 after
said it will acquire the company for $1.4 billion in cash or $19 per share. Verizon expects to complete the acquisition by the end of the first quarter.
Over 25 million shares of Terremark were changing hands on the
The deal news sent another small-cap technology service provider higher. Shares of
were gaining 16% to $30.88.
Medical devices company
(ARAY - Get Report)
saw its shares jump 23% to $8.45. The company swung to profit in the fourth quarter, reporting a net income of $4.1 million, or 7 cents per share, against a loss of $1.2 million or 2 cents per share in the same period last year.
, an oil company with operations in Peru said it had secured $40 million worth of financing from Credit Suisse, to help finance its capital expenditure for 2012. Shares were up 9% to $5.16.
Shares of chipmaker
(LSCC - Get Report)
climbed 6.6% after it delivered better-than-expected results. The company said fourth quarter profit more than doubled to $13.9 million, or 11 cents per share, from $5.6 million, or 5 cents a share, a year earlier.
Stocks of oil tankers were attracting unusual buying interest Friday.
saw its stock rise 12.3% to $3.28. Shares of
(FRO - Get Report)
were surging by 7.15 and 6.5% respectively.
Market participants are attributing the rise in oil tanker stocks to the Egyptian crisis. If the Suez Canal is threatened, oil tankers will have to go around Africa, which means companies will probably charge more for their services. That, in turn, could lift profits.
were among the other small-cap stocks heading higher on Friday afternoon.
-- Written by Shanthi Bharatwaj in New York
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