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Small-Cap Spotlight: Dex One, Acura Pharma

NEW YORK ( TheStreet) -- The Russell 2000 index tacked on nearly 1% in afternoon trades on Monday, outpacing gains in the major U.S. equity indices.

At last check, the small-cap index was up 0.9% to 788.74. The bounce pushed the Russell 2000, which has fallen sharply in June, back into positive territory for 2011. As recently as the end of May, the index was up 8.7% year-to-date.

The Russell's top five holdings are Riverbed Technology (RVBD), up 23 cents to $32.16; Tibco Software (TIBX), surging 4.8% to $24.94; Rackspace Holdings (RAX), up 12 cents to $38.39; Verifone Systems (PAY), adding 1.1% to $40.38; and American Capital Agency (AGNC), off 2 cents to $30.13.

Last week's top performer in the index was American Realty Investor (ARL), which more than doubled without releasing any news, prompting the company to issue a statement on June 13, saying it doesn't comment on unusual market activity. The volatile stock is typically very thinly traded and is down 9% to $3.70 on volume of less than 10,000 on Monday.

The biggest percentage decliner for the period spanning from June 10-June 17 was SunPower (SPWRA), which saw its shares fall 21%. Last week, Total successfully completed its tender offer for a 60% stake in SunPower, buying 30.2 million Class A shares and 25.2 million Class B shares for $23.25 each. The stock fell 1.5% to $16.47 in recent trades.

On Monday, two of the biggest small-cap winners were Dex One (DEXO), and Acura Pharmaceuticals (ACUR - Get Report).

Shares of Dex One surged 38% to $2.90 on volume of 6.6 million, more than 10 times the issue's three-month trailing daily average. The company announced an advertising alliance with Google (GOOG - Get Report) early Monday, saying it's agreed to be a Google Adwords Certified Partner.

The deal calls for Dex One to receive "integrated marketing support, training, engineering support, optimization services, and access to new products" from Google. Based in Cary, N.C., Dex One is a marketing services provider that focuses on local businesses. The company was formed when R.H. Donnelly emerged from bankruptcy protection in early 2010.

Dex One reported its fiscal first-quarter results on May 2, posting adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $175 million and revenue of $391 million. Its second-quarter results are expected on August 1.
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