NEW YORK ( TheStreet) -- Wendy's/Arby's ( WEN) was a prominent gainer in the small-cap space Thursday, after the Atlanta-based restaurant opeartor said that it was considering a sale of its roast-beef sandwich chain Arby's to focus on its hamburger business. Arby's constitutes about 30% of its revenues, but has been struggling in the recession and has been a drag on total sales. Shares were up 8.5% to $4.85. Trading volumes jumped to over 12 million in afternoon trading.
The real winner on Thursday's trading so far is dental laser company BioLase Technology ( BLTI), soaring a whopping 90% to $3.21, a 52-week high, after it said that it expects to see a profit in the fourth quarter after three quarters of loss. The company issued annual revenue guidance for 2011 in the range of $55 million to $60 million, representing a growth of approximately 120 percent to 140 percent over 2010. Net revenue for the first quarter ended March 31 is expected to range between $8.75 million to $9.25 million, up from $4.4 million in the first quarter of 2010. Over 4 million shares traded hands on Thursday. Average volume in the last three months has ranged in the low 50,000. Shares of Rexahn Pharmaceuticals ( RNN), a clinical stage pharmaceutical company engaged in oncology and the nervous system, was shooting up 9.8% to $1.34. The company announced that Israel-based Teva Pharmaceuticals ( TEVA) had purchased a 6.3% stake in the company, picking up 2.3 million shares in a private offering at $1.692 per share. The investment money will be used for the purpose of supporting the research and development program for the preclinical stage, anti-cancer compound RX-3117.
Trading company Knight Capital ( KCG) was gaining 6% to $14.02 after it beat expectations on revenues, even though it disappointed on earnings. Revenues from continuing operations for the fourth quarter of 2010 were $259.0 million, compared to $303.3 million from continuing operations for the fourth quarter of 2009. Still, it was higher than analyst estimates of $254 million. Shares of PDL BioPharma ( PDLI) surged 3.4% to $5.12 after RBC Capital upgraded it to outperform with a price target of $6. GT Solar ( SOLR) saw its shares rise 2% to $10.96
after it nabbed a $33.3 million LED deal from South Korean polysilicon giant OCI. Office Depot ( ODP), Dean Foods ( DF), JetBlue Airways ( JBLU) and Corinithian Colleges ( COCO) were also gaining on higher volumes. -- Written by Shanthi Bharatwaj in New York >To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.