Friday's Small-Cap Winners & Losers

Buyout news sharply lifted Smithway Motor Xpress (SMXC Quote) Friday after privately held Western Express agreed to buy the trucking company for some $54 million, or roughly $90 million including debt acquisition. Shareholders will receive $10.63 a share in cash. The transaction should close this summer. Shares of Iowa-based Smithway were trading up $1.35, or 15%, to $10.35.

Power-One (PWER Quote), maker of power-conversion products, gained after announcing a favorable ruling from pre-jury-trial hearings in its patent-infringement suit against Artesyn Technologies, a unit of Emerson Electric (EMR Quote). The U.S. District Court for the Eastern District of Texas rejected Artesyn's contention that the patents in question are indefinite and, therefore, invalid.

Power-One also said the court also accepted "a significant majority" of its definitions of contested terms. The jury trial is scheduled to begin in August. California-based Power-One was climbing 65 cents, or 11.5%, to $6.31. Artesyn's parent Emerson Electric was recently adding a penny to $43.86. ...