Drugstore.com, Talbots: Small-Cap Winners
NEW YORK (TheStreet) -- Retail stocks were winning in the small-cap space on Thursday. Drugstore.com (DSCM) was up more than two-fold Thursday after drug chain Walgreens (WAG) said it will acquire the company for $409 million, or $3.80 per share. The stock was up 112% at $3.78.
Talbots posted a smaller-than-expected loss and said it will close 90 to 100 stores and downsize 15 to 20 stores over the next two years.
Charming Shoppes posted a lower-than-expected loss as holiday sales topped estimates. The company also announced the appointment of Anthony Romano, chief operating officer, as its new chief executive to replace James Fogarty, who stepped down in October 2010.Medical device maker Trans1 (TSON) saw its stock soar 47% to $4.78 after the company received FDA clearance for a spinal implant system. Imax (IMAX) said it will open 75 new screens in China by the end of the 2014 and expects the Asian tiger to beat the U.S. in becoming the biggest market for screens in the future. Shares were shooting up 12% to $29.88. Rare earth stocks continued to climb Thursday after Summit Atom Rare Earth, co-owned by Kazakhstan state uranium miner Kazatoprom, said it plans to produce 1,500 tons a year of rare earth oxide. Shares of Rare Element Resources (REE) and Avalon Rare Metals (AVL) were up 5% and 2.5% respectively. Powerwave Technologies (PWAV) and Finisar (FNSR) were some of the tech names that were making smart gains on Thursday. -- Written by Shanthi Bharatwaj in New York
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