Small-cap stocks drifted lower Tuesday, but a few health care names, in addition to Point.360 (PTSX Quote), were able to climb on bouts of good news.
The media-production company rocketed 45% to $5.35 after saying DG FastChannel (DGIT Quote) will buy its spot-advertising distribution operations, after the rest of Point.360's businesses are spun off to shareholders. DG will pay about one-fifth of a DG share for every Point.360 share, as well as $3 million in cash and up to $7 million in debt assumption. DG shares closed 3.3% higher at $17.50.
Span-America Medical Systems (SPAN Quote) of Greenville, S.C., was among the small-cap health leaders, jumping 16.5% to close at $19 after declaring a special cash dividend of $5 a share. Oncolytics Biotech (ONCY Quote) closed up 17% at $2.28 after a recent colon-cancer study yielded positive results for the Canada-based company's main product, Reolysin, in combination with gemcitabine. ...
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