NEW YORK (
(TOMO) was leading the gains among small-cap stocks Monday afternoon, after
(ARAY) said it will buy the radiation firm for $277 million in cash and stock.
The deal values TomoTherapy at $4.80 per share, a 31% premium to its previous closing price. TomoTherapy shareholders would receive $3.15 in cash and 0.1648 shares of Accuray common stock for each TomoTherapy share they hold.
Shares were soaring 24% to $4.56. Volumes jumped to 15 million shares.
James River Coal
(JRCC - Get Report) were also rising on deal news. The coal miner said it plans to buy International Resource Partners for $475 million in cash to boost coal and shipping. James River secured $375 million in financing from Deutsche Bank AG and UBS AG for the deal.
The stock of James River was surging 12.5% to $22.78.
The stock of
was a notable gainer in Monday action, rising 17% to $58.57. The company's primary focus is the development of oral therapeutics for the treatment of Hepatitis C.
Oil stocks continued to spike, with usual small-cap suspects such as
(LEI - Get Report)
Samson Oil & Gas
gaining in Monday afternoon trading.
Ram Energy Resources
was climbing 22% on unusually high trading volumes.
Silver miners were gaining as silver prices soared to 31-year highs.
Great Panther Silver
(GPL - Get Report)
was rising 9% to $4.98 after the company said its mineral resources at its Topia mine in Mexico were likely 36% higher than previously estimated in 2009. Shares of
Paramount Gold and Silver
First Majestic Silver
were also gaining.
Shares of rare earth metals companies were moving up after China said it will lower exports of the metals in the first half of the year, due to its negative environmental impact. Shares of
Avalon Rare Metals
Rare Element Resources
were up more than 2% each.
--Written by Shanthi Bharatwaj in New York
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