Small-cap stocks opened Monday with a drop but recently recovered to trade slightly in the black, mirroring the major indices' erratic performance. The Russell 2000 Index was up a point at 768.82, and the S&P SmallCap 600 Index was up even less, at 399.40.
( GVHR) rose 24% to $5.28 on an upgrade from JPM Securities. The Bradenton, Fla., human resources firm now rates market outperform, up from market perform.
Meanwhile, life-science systems manufacturer
was gaining 16% to $10.80 after it announced it was buying the Bruker BioSpin Group for roughly $914 million in cash and stock. Privately held Bruker BioSpin manufactures life-science analytical research systems using magnetic resonance core technology. Bruker BioSciences expects the resulting company to report 2007 pro forma revenue of over $900 million.
On the losing side,
shares sank 21% to a record low of $2.87 as the McLean, Va.-based consulting firm reported third-quarter results and a regime change. BearingPoint posted a loss of $68 million, or 32 cents a share, compared with a loss of $30 million, or 14 cents a share, in the year-ago quarter. Analysts polled by Thomson Financial were expecting a loss of 11 cents a share. Perhaps in light of the results, the company also announced the departure of CEO Harry You, who will be pursuing other opportunities, and the appointment of current COO Ed Harbach.
also took an 18% hit to $8.01 in the wake of a Dec. 1
article in which the company's wireless technology was referrred to as "false," "stupid" and "b.s."
, which operates the "World of Warcraft" online role-playing game in China, lost 10% to $23.10 on speculation that the recent merger between game companies
would create difficulties for The9, according to a
report. In the wake of the deal, Vivendi, which develops "World of Warcraft," may accelerate renegotiation of the terms of The9's operation of the game's online platform, the report said.