Small-cap stocks generally traded beneath the major indices for most of the day, although the Russell 2000 and the S&P SmallCap 600 were both recently up around 0.1%.
Among the individual winners was
, which vaulted 13% after the Israel-based information-technology company said non-GAAP earnings surged 50% to 18 cents a share, or $3.4 million, in the third quarter. That tops Thomson Financial's estimates by a penny a share. Revenue surged 34.1% to a better-than-expected $23 million. Shares gained $2.48 to $21.49.
e-Future Information Technology
also had a sharp rise after announcing that its ONE Visual Process Management system was "successfully" launched in Sino Rubber Electronic Exchange. Shares were soaring 22.8% to $25.45.
Arizona Star Resource
jumped 22.8% on word
will offer to buy the Canada-based gold-and-copper miner for $811.1 million (C$773 million) in cash, or roughly $18.89 a share. Arizona Star was changing hands at $18.70. Barrick climbed $1.01, or 2.4%, to $44.06.
( CHB) slid 11.7% after the housing company proposed to offer $130 million in convertible senior bonds. The underwriter, Credit Suisse, will have an option for another $19.5 million worth in order to cover overallotments. Champion says proceeds will, among other things, go to repurchasing $82.3 million in outstanding senior bonds due 2009. A tender offer for those was also launched this morning. Shares were off $1.52 at $11.52.
Progressive Gaming International
( PGIC) slid 18.6% to $3.93 after the Las Vegas gambling-equipment maker announced disappointing legal news after the close Friday. In a lawsuit alleging that the company engaged in attempted monopolization in 1998 and 1999 -- which was won by the plaintiff earlier this year -- the U.S. District Court for the Southern District of Mississippi denied Progressive's post-trial motions for judicial relief.
The plaintiff -- Derek Webb, et al -- had been awarded $13 million, to be tripled in accordance with applicable law. Progressive said it's now commencing the appeals process, which among other things will necessitate posting a $20 million bond by Nov. 8.
Morton's Restaurant Group
, meanwhile, widened its third-quarter loss to $736,000, or 4 cents a share, vs. a penny a share last year. That's in line with Thomson Financial's consensus estimate. The Chicago-based company also reported a 7.4% drop in Bertolini's same-restaurant sales that partially offset a 7.3% gain at Morton's steakhouses. Overall, comparable sales were up 6.9%.
As for guidance, fourth-quarter earnings are expected at between 46 cents and 48 cents a share, including 1 cent to 2 cents in stock-option expenses and "higher than initially anticipated pre-opening costs." Analysts are seeking 51 cents a share.
Shares were tumbling 17.5% to $14.20.