Transcend Services ( TRCR) was surging nearly 40% after the medical-transcription company swung to a profit in both the fourth quarter. For the quarter, profits totaled $762,000, or a dime a share, compared with a loss of $444,000, or 6 cents a share, a year ago. Revenue rose 23% from last year to $9 million. Shares were up $1.73 to $6.08.

Digital Music Group ( DMGI) ballooned on news that the Sacramento, Calif.-based company, which buys, digitally processes and redistributes audio and video recordings, has struck a three-year deal to have its video files sold through Apple's ( AAPL) iTunes store. Specific monetary terms weren't disclosed, but Apple will pay DMG "fixed wholesale prices" for all video downloads and DMG will remain responsible for paying any necessary third-party royalties. DMG shares were rising 60 cents, or 15.9%, to $4.39. Apple was recently trading up $1.19, or 1.4%, to $86.89.

Vertrue ( VTRU) flew past Wall Street expectations for the quarter ended Dec. 31, posting earnings of $8.7 million, or 74 cents a share, up from $7.7 million, or 66 cents a share, a year ago. Analysts polled by Thomson Financial were looking for 64 cents. The Norwalk, Conn., Internet marketer's sales rose 12% to $178.6 million, slightly under the $180 million consensus. Shares were adding $3.76, or 9.4%, to $43.88.

Rockwell Medical Technologies ( RMTI) jumped after it announced success in preclinical animal studies testing the safety of its iron-delivery compound soluble ferric pyrophosphate. The compound is meant to maintain iron balance in patients undergoing dialysis treatment for end-stage renal disease. Shares were gaining 54 cents, or 9.7%, to $6.09.

TNS ( TNS) tumbled after it rejected a $16-a-share buyout offer from a group lead by former Chief Executive John McDonnell. The group initially bid $20. Current CEO Henry Graham expressed surprise that the group had taken such a newly pessimistic view of the company, and TNS pointedly issued a solid 2007 outlook as part of its response. The Reston, Va., communications-services company is targeting adjusted earnings of 97 cents to $1.07 a share on sales of $312 million to $320 million this year. Wall Street is seeking 93 cents a share on revenue of $305 million. Shares were sliding $2.56, or 13%, to $17.14.

Mothers Work ( MWRK) fell after it reported lower sales than last year. For the quarter ended Dec. 31, the Philadelphia-based purveyor of maternity apparel said it had a top line of $148.5 million, down 1.9% from last year. The results fell in line with two analysts' expectations. Earnings rose to $1.4 million, or 23 cents a share, from last year's $428,000, or 8 cents a share. Mothers Work was down $5.17, or 12.6%, to $35.83.

GeoMet ( GMET), a Houston-based gas driller, plunged after a Virginia state court temporarily halted construction of a 1,450-foot portion of a 12-mile pipeline connecting one of its properties to an interstate pipeline. In another setback, the Texas Court of Appeals reversed a decision involving the company's sale of its interests in certain Alabama properties, now decreeing that the buyer had preferential rights to acquire the property's royalty interests. Shares were down 96 cents, or 10.4%, to $8.29.

Double Hull Tankers ( DHT) was lower after it announced that its largest shareholder, Overseas Shipholding Group ( OSG), had publicly sold 4.6 million of its Double Hull shares. The sale reduces its ownership in the company to about 29.2% from the prior 44.5%. Double Hull shares were losing $1.06, or 6.5%, to $15.15. Overseas shares were dipping 6 cents to $57.78.

Diana Shipping ( DSX) slipped on word that the Greece-based company will offer 5 million shares for $15.75 apiece -- a discount to its $16.96 closing price Tuesday. Shares were losing 79 cents, or 4.7%, to $16.17.

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