China Security, US Airways: Small-Cap Winners
NEW YORK (TheStreet) -- Shares of China Security & Surveillance Technology (CSR) were soaring 24% to $5.08 a share on Tuesday after Chairman and CEO Guoshen Tu offered to buy out the company for $6.50 per share. The offer is for outstanding shares of common stock currently not owned by Tu. The chairman currently owns 21% of the stock.
US Airways (LCC) was gaining 9% to $9.06 after Deutsche Bank analysts reiterated a buy on the stock. Other regional airlines including AirTran Holdings (AAI) and JetBlue Airways (JBLU) were also up 1.8% and 4% respectively. Airlines have been hiking fares and rolling out surcharges to deal with rising fuel prices. Cooling oil prices on Tuesday appeared to have also helped boost sentiment surrounding airline stocks.
Broadsoft (BSFT) was among the biggest gainers on Tuesday afternoon trading after the networking software company reported strong earnings and revenue growth for its fiscal fourth quarter after the bell on Monday.
For the three months ended Dec. 31, Broadsoft posted a non-GAAP profit of $12.2 million, or 44 cents a share, up significantly from both its year-ago comparable profit of $1 million, or 7 cents a share, and earnings of $2.2 million, or 8 cents a share in the September period. Revenue totaled $35.8 million, up 85% year-over-year and 61% on a sequential basis.Shares were up 38% at $48.52. Volume of shares traded was at 10 times its average, at close to 4 million. Payment services provider Moneygram International (MGI) was climbing 13% to $3.03 after it announced a recapitalization agreement whereby affiliates of private equity firm Thomas H Lee would get a 55% stake in the company. THL and its affiliates will convert all their preferred stock into common stock and its other investor, Goldman Sachs, will convert its preferred stock into participating convertible preferred stock, a non-voting equivalent to common stock. "This transaction simplifies our capital structure, ends the dilution from the continuing dividend payments required by the preferred stock terms, and increases the attractiveness of our common stock," CEO Pamela Patsley said in a statement. Shares of Radioshack (RSH) were up 6% to $15.45. The stock has frequently been a subject of takeover chatter.
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