The broad indices took small-cap stocks on a roller coaster ride Monday before leading them high into positive territory, and one of the biggest winners was Graham (GHM Quote), which surged 23.9% on positive earnings.
The Batavia, N.Y., company, which makes vacuum and heat-transfer equipment, said it made $2.7 million, or 66 cents a share, in its fiscal first quarter, vaulting from 28 cents a share a year ago. The results thump the sole analyst's estimate from Thomson Financial, which called for flat income vs. last year. Shares were up $6.40 to $33.20.
GPC Biotech (GPCB Quote) also had a quick rise after the Germany-based company withdrew its accelerated-approval application for satraplatin, the prostate-cancer drug for which the Food and Drug Administration said it needed more data last week. That news had sent GPC stock plunging, but today shares soared 18.8% to $12.30. ...
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