Shares of GlobeTel Communications ( GTE - Get Report) slipped after the Pembroke Pines, Fla., telecom company said institutional investors agreed to exercise $6.8 million in equity warrants, resulting in the delivery of about $6.4 million of new capital. Shares of GlobeTel fell 12 cents, or 3.4%, to $3.43.

American Superconductor ( AMSC - Get Report) rose after the Westborough, Mass., electronics company said it finalized a $10 million amendment to a contract with the U.S. Navy's Office of Naval Research to build a high-temperature superconductor propulsion motor for electric warships.

The company expects an additional contract modification within the next few months, which will increase its backlog by an additional $7 million to $10 million. Shares of American Superconductor rose 46 cents, or 5.2%, to $9.30 in recent trading.

Essex Corp. ( KEYW) saw its stock rise after the Columbia, Md., information processing company said it received a $46 million contract from the Defense Department. Shares of Essex rose 73 cents, or 4.4%, to $17.34 in recent trading.

Lithia Motors ( LAD - Get Report) stepped on the gas after Calyon Securities initiated coverage of the Medford, Ore., vehicle retailer with an add rating.

In addition, the company said Bryan DeBoer, who had been executive vice president, has been promoted to president and chief operating officer. M.L. Dick Heimann was named president of corporate affairs. Shares of Lithia Motors rose 72 cents, or 2.2%, to $33.17.