Monday's Small-Cap Winners & Losers
Small-cap stocks opened the week on the upside Monday, joining with the bullish action in the broader market.
Shares of
Centerplate
(CVP)
, a Spartanburg, S.C.-based provider of food and related services to recreational facilities, added 20% to $4.75. The company entered into an amended agreement with
General Electric Capital
(GER) - Get Report
to adjust its senior leverage ratio, total leverage ratio and interest coverage ratio requirements. The move will allow Centerplate to pay dividends and interest on its subordinated notes and invest in a potential new service contract and expand capital expenditures in 2008.
Also rising,
MedCath
(MDTH)
added 4.8% to $22.32. The Charlotte, N.C., owner and operator of hospitals announced it had appointed Pamela Bailey and Edward Casas to its board of directors. The
Associated Press
also reported that an analyst at BMO Capital Markets said the stock was trading at a discount to others in its space.
On the losing side, medical device company
ev3
(EVVV)
lost 13% to $7.51. The Plymouth, Minn.-based firm forecast first-quarter revenue of $101.3 million, vs. previous guidance of $107 million. The Street is looking for $104.4 million, per Thomson Financial. In addition, ev3 withdrew its first-quarter and full-year guidance previously announced on Jan. 7.
Also losing ground on guidance,
ScanSource
(SCSC) - Get Report
shares fell 14% to $29.69. The company forecast revenue for third-quarter fiscal 2008 in the range of $509 million to $515 million. Analysts expect revenue for the Greenville, S.C., wholesale distributor of specialty technology products to come in at $562.6 million.
Meanwhile, shares of
Aruba Networks
(ARUN)
, a provider of secure enterprise mobility solutions based in Sunnyvale, Calif., tumbled 9.7% to $4.75. JP Morgan downgraded the company to underweight from neutral.
Finally, Houston's
Landry Restaurants
(LNY)
slipped 6.4% to $16.76. CEO Tilman Fertitta reduced his purchase offer for the company's outstanding stock to $21 a share, down from the $23.50 per-share offer he made in January.
More broadly, the Russell 2000 was up 0.8% at 719.57 and the S&P SmallCap 600 climbed 0.8% to 381.27.