Small-cap stocks moved tightly with the broader market Monday for most of the day before coming up slightly higher than the rest, though still ending up in negative territory.
Among the winners was
, which develops eco-friendly products, after it formed a joint venture with agricultural processor
in order to make biodegradable plastics. The first plant for these purposes should launch in 2008. Cambridge, Mass.-based Metabolix surged 15% to $20.70; ADM closed 1.1% higher at $38.96.
shot up 18.4% to $24.28 after announcing a three-year deal with
for F119 engine components. The deal, slated to begin Jan. 1 of next year, will bring in about $12 million in revenue, $2 million of which will be paid in advance. United Technologies added 30 cents to close at $67.78.
completed a $275 million revolving credit facility. The housewares maker jumped 86 cents, or 11.5%, to close at $8.31.
Also on the move today were a number of companies boosted by positive analyst calls. SunTrust Robinson, for example, said medical-device maker
will probably meet its earnings guidance for the fiscal fourth quarter, and it upped the stock to buy from neutral. Shares leapt 9.6% to $17.75.
Among other small-cap upgrades today, wireless-products maker
climbed 6.7% to $13.43 after Cowen & Co. upped its rating to outperform; elsewhere, water-utility company
American States Water
and postage-services Web site
were respectively upgraded by Matrix Research and B. Riley & Co. American States Water shares gained 4.5% to $37.51, while Stamps.com added 3.5% to $13.33.
In merger news -- or lack thereof -- footwear retailer
$46 per-share bid, sending shares up 1.2% to $50.56. Foot Locker slid 1.2% to $23.91. Contact-lens company
Bausch & Lomb
, meanwhile, surged 12.8% to $61.93 on rumors it might be acquired in a leveraged buyout.
Among those on the downswing today was Exton, Pa.-based medical-supplies maker
, which reported fiscal third-quarter profits of 19 cents a share. This is 2 cents higher than last year, but analysts polled by Thomson Financial were expecting 2 cents more. Shares lost $4.54, or 14.4%, to close at $27.01.
sank 5% to $8.74 after the Internet-service provider swung to a loss of $1.7 million, or 4 cents an American Depositary share, in its fiscal fourth quarter. Wall Street was seeking 3-cent per-share profits. And pet-medication distributor
was lower on a Piper Jaffray downgrade to market perform from outperform. Shares surrendered 55 cents, or 4.6%, to close at $11.32.
The Russell 2000 was off 0.2% to 827.55; the
SmallCap 600 slipped 0.1% to 425.89.