Small-cap stocks rode high atop Thursday's best-performing major index, the Nasdaq, amid a plethora of good news out of the sector.
Penford (PENX Quote) shares traded furiously to catapult 32.4% on impressive results for the quarter ended May 31. The Englewood, Colo., company, which makes ingredient systems for industrial and food applications, more than doubled its income from last year to $5 million, or 54 cents a share -- double the sole analyst's estimate from Thomson Financial. Shares were changing hands at $25.65.
Among the day's most impressive winners was CryoCor (CRYO Quote), which booked gains of some 81% after the Food and Drug Administration's advisory panel recommended pre-market-approval of the San Diego company's cryoablation system, a device that treats atrial flutter (abnormal heartbeat). The FDA's ultimate decision should come in August. Shares were up $2.05 to $4.59. ...
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