Infosonic ( IFON) shares jumped more than 19% on news the San Diego-based company will continue distributing Samsung wireless devices in Argentina, Uruguay and Paraguay through year-end. Shares were rising 96 cents to $5.96. Microvision ( MVIS) surged after it announced it had developed a full-color projection display that's small enough to fit into a cell phone. The Redmond, Wash., company will demonstrate the device at the Consumer Electronics Show in Las Vegas next week. Shares were gaining 53 cents, or 17.3%, to $3.60. Witness Systems ( WITS) rose on preliminary results that topped Wall Street estimates. The Georgia-based software company said it brought in $63 million in revenue in the fourth quarter and $220 million in 2006. Analysts polled by Thomson Financial were looking for $58.2 million and $211.8 million for the quarter and year, respectively. The company also issued 2007 revenue guidance -- between $250 million and $255 million -- that beats the $246.8 million consensus. Shares were up $2.05, or 11.7%, to $19.56. Matrix Service ( MTRX) gained after profits more than tripled for the quarter ended Nov. 30. The company, which sells construction and maintenance services to the petroleum and power industries, said it earned $8.1 million, or 31 cents a share, compared with $2.2 million, or 10 cents a share, a year ago. Revenue climbed to $166.4 million from last year's $126.8 million. Shares were climbing $1.58, or 10.5%, to $16.68.
Redhook Ale Brewery ( HOOK) shares were up on word the company has held "preliminary discussions" regarding the possibility of merging with privately held Widmer Brothers Brewing. Shares were adding 53 cents, or 10.5%, to $5.53. Cache ( CACH) plunged after it was forced to slash its guidance due to December results that were "well below" expectations. Same-store and total sales both rose by only 4% for the period ended Dec. 31, with total revenue reaching $39.1 million. As a result, the company now expects fourth-quarter GAAP income of 28 cents to 30 cents a share, down at least 17 cents from its previous outlook. Analysts are looking for 49 cents a share. The New York-based women's apparel company's first-quarter forecast was more optimistic, covering both the top and bottom ends of the consensus, but shares were falling $4.11, or 16.6%, to $20.67. Sigmatel ( SGTL) dropped after Chairman, President and CEO Ronald Edgerton resigned from the company to spend more time with his family. Current board member William Osborne will assume the chairman position, and Phillip Pompa, a senior VP, will act as interim CEO until a permanent replacement is found. The chip company simultaneously announced fourth-quarter sales guidance between $37 million and $38 million, below Wall Street's $43.8 million projections. Shares were losing 51 cents, or 11.3%, to $3.99. Brigham Exploration ( BEXP) fell after the driller announced the failure of both of its late-year tests in areas with potentially high oil reserves. An analyst with RBC Capital Markets downgraded the stock to sector-perform from outperform. Shares were down 69 cents, or 9.8%, to $6.37.