Small stocks were mixed and somewhat flat on Tuesday before ratcheting up late in the trading day, and one of the bigger winners was 24/7 Real Media ( TFSM).

Shares surged more than 20% after the New York Post reported that Microsoft ( MSFT) is considering a bid "in the $1 billion range" for the New York-based Internet-marketing company. 24/7 shares were up $2.05 to $12. Microsoft was lately rising 1.1% to $30.28.

Florida's Syniverse ( SVR), which sells services to the wireless-telecom industry, shot up 18.6% at $12.23 on word first-quarter cash income gained 23.5% on last year to 21 cents a share -- 3 cents higher than the mean Street projection, as per Thomson Financial. Drew Industries ( DW), a White Plains, N.Y., maker of recreational-vehicle components, vaulted 16.6% to $33.55 after blowing away first-quarter estimates, according to Thomson Financial, with earnings of $9.6 million, or 44 cents a share.

Also surging on better-than-expected first-quarter results were Wakefield, Mass.-based business-services firm American Dental Partners ( ADPI), gaining 14.3% to $24.44; Connecticut's Arch Chemicals ( ARJ), 12.1% higher at $33.87; and Bentley Pharmaceuticals ( BNT), of Exeter, N.H., up 10.4% to $10.54.

Acusphere ( ACUS), on the other hand, was among the biggest small-cap losers. The Watertown, Mass., drugmaker lately tanked nearly some 29% at $2.84 on disappointing results from a late-phase clinical trial of Imagify, which is proposed to detect coronary artery disease. The trial failed to achieve one of its primary endpoints -- specificity -- despite achieving the other primary endpoints of accuracy and sensitivity.

Staffing-services firm General Employment Enterprises ( JOB) tumbled 23.1% to $2.10 in heavier-than-usual trading after fiscal second-quarter income, at 2 cents a share, was a penny lower than last year; health-care staffer AMN Healthcare Services ( AHS) lost 8.7% at $22.23 on second-quarter income guidance of 23 cents to 25 cents a share, which leans below the Street's consensus. And Bruker BioSciences ( BRKR), which makes X-ray systems and other analytical devices, plummeted 21% to $9.09 despite meeting first-quarter targets.

Elsewhere, refined-sugar purveyor Imperial Sugar ( IPSU) was down 7.3% to $27.60 after predicting that declining refined-sugar prices will continue falling for the rest of the fiscal year. Mortgage-investment firm HomeBanc ( HMB) sliced its first-quarter outlook by a dime a share, now expecting a loss of 30 cents to 34 cents a share. Shares gave up 11.1% to $2.49.

Recently, the Russell 2000 Index was adding 1.43 points, or 0.2%, to 816. The S&P SmallCap 600 was up 0.5% at 422.76.