Updated from 1:27 p.m. EST with new stock prices
Small-cap stocks climbed higher along with the broader market Wednesday. The Russell 2000 ticked up 0.9% to 687.02, and the S&P SmallCap 600 rose 1% at 365.49.
Shares of Packeteer (PKTR Quote), which provides wide-area network application delivery systems, rocketed 28% to $4.94 on a buyout offer. Major shareholder Elliott Associates offered $5.50 a share in cash for the Cupertino, Calif., company. The board said it is evaluating the unsolicited offer, which represents a 42% premium over Tuesday's closing price.
Meanwhile, solar module products maker Canadian Solar (CSIQ Quote) jumped 17% to $22.22 on fourth-quarter earnings and forward guidance. The Markham, Canada-based firm swung to a profit of $5.5 million, or 20 cents a share, from a loss of $5.1 million, or 21 cents a share, in the year-ago quarter. Analysts polled by Thomson Financial were looking for a profit of 18 cents a share. For the first quarter, the company forecast revenue in the range of $150 million to $155 million, ahead of the Street's view of $138.7 million. ...
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