Tuesday's Small-Cap Winners & Losers

Shares of Color Kinetics(CLRK Quote) gained 7.7% Tuesday after the Boston-based lighting-systems maker announced an agreement under which Osram Sylvania will license Color Kinetics' patents.

Under the license, Osram Sylvania, a Massachusetts-based unit of Siemens AG(SI Quote), will create a multicolor light-emitting-diode (LED) system for Gotham. Gotham Architectural Downlighting will market the product, and the global license will apply to sales of the product in all markets covered by Color Kinetics' patent portfolio. Shares were trading up $1.32, or 7.7%, to $18.56.

GigaMedia(GIGM Quote) advanced Tuesday after the Taiwan-based gambling software company said it did not expect any adverse financial impact from the recent passage of the Unlawful Internet Gambling Enforcement Act of 2006, which bars financial-transaction processing connected with the U.S. online-gambling market. The company said it's a pure play international business with no U.S. source revenue. Shares were climbing 44 cents, or 4.5%, to $10.28. ...