Small-cap stocks spent most of their time in negative territory Monday as they scraped under the broad indices, but the sector caught up to burst into the green late in the trading day.
One of the biggest winners was GigaBeam (GGBM Quote), which soared some 21% on Friday's postclose announcement that a "key reseller" for the Saudi Arabian government had ordered two of its WiFiber links. Financial terms weren't disclosed. Shares of the Durham, N.C., firm were up 91 cents to $5.26.
Coast Bank of Florida (CFHI Quote) catapulted 27.2% after First Banks agreed to buy it for around $3.40 a share in cash, a price that represents a 49.1% premium to the stock's Friday closing price. The $22.1 million deal will likely close in the fourth quarter. Shares were changing hands at $2.90. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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