Dynacq Healthcare ( DYII) skyrocketed more than 200% after the company posted its results for the fiscal third quarter ended May 31. The company had income from continuing operations of 16 cents a share, compared with a loss from continuing operations of 3 cents a year earlier. Net patient service revenue for the quarter increased by $4.8 million, or 61%, to $12.6 million. Net income was $2.6 million, or 17 cents a share, vs. last year's loss of $800,000, or 5 cents a share. The stock was advancing $5.07 to $7.53. Predictive medicine company PreMD ( PME) surged 75% on news it has signed an exclusive licensing agreement with AstraZeneca ( AZN) for the U.S. marketing and distribution of a novel noninvasive skin cholesterol test. PreMD will receive an upfront payment of $500,000 and will be eligible for additional milestones and royalties. Shares of PreMD were gaining 81 cents to $1.89. Art's-Way Manufacturing ( ARTW) was climbing 42% in the wake of the company's latest quarterly earnings report, which showed a year-over-year increase in sales and earnings. Sales for the second quarter rose to $5.7 million from $4.1 million in the prior year. Earnings were $558,000, or 28 cents a share, up from $153,000 and 8 cents a share, last year. Art's-Way was rising $5.07 to $17.20. Spartech ( SEH) slumped after the company cut its forecast and said its CEO resigned. George A. Abd, chief executive and president, is leaving the company, citing personal reasons. He also resigned as a director.
As for the outlook, Spartech now expects fiscal 2007 earnings of $1.45 to $1.50 a share, down from its earlier outlook of $1.55 to $1.62. Spartech, a producer of engineered thermoplastic sheet materials and other compounds, was losing 18.4% to $22.30. Immersion ( IMMR) was dropping 14.6% to $17.50 after an analyst offered cautious comments on the company's shares. Thomas Weisel Partners downgraded the stock to underweight from market weight, saying investors are now expecting unrealistic growth. The firm remained upbeat on Immersion's longer-term growth prospects.