Small-cap stocks hesitantly set forth into positive territory in step with the broader market Thursday.
Shares of NextWave (WAVE Quote), a developer of mobile multimedia and wireless broadband products based in San Diego, Calif., swelled 28% to $6.08. The company announced its intention to sell its spectrum holdings in the U.S. The company, which has licenses and lease rights for a total of 4.7 billion MHz/pops of spectrum, has retained Deutsche Bank and UBS to explore a possible sale.
Meanwhile, King of Prussia, Pa.'s GSI Commerce (GSIC Quote) jumped 27% to $14.42. The provider of services for e-commerce, multichannel retailing and interactive marketing reported a first-quarter loss of $9.6 million, or 20 cents a share, vs. a loss of $2.3 million, or a nickel a share, a year ago. Analysts polled by Thomson Financial were looking for a 24-cent per-share loss. ...
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