Bankrate, Cambrex, Radio One: U.S. Small-Cap Equity Movers
The Russell 2000 Index (RTY) rose to a one-month high, gaining 3.3 percent to 703.84 at 1:20 p.m. in New York. The Standard & Poor's 500 Index, whose members have a median market value 22 times larger than the Russell 2000, added 2 percent. The measures have declined 8.1 percent and 7.5 percent, respectively, this year.
Bankrate Inc. (RATE) had the biggest gain since Dec. 10, advancing 11 percent to $50.02. The company that posts online offers for more than 300 financial products may rise as much as 25 percent to $60 in the next year as consumers seek lower interest rates, Barron's said, citing Needham & Co. analyst Kar Han Kwong.
Cambrex Corp. (CBM) fell the most since Aug. 7, losing 13 percent to $7. The supplier of chemicals to the pharmaceutical industry said results this year may be affected by a recall announced by unnamed customer. The recall is not related to Cambrex's performance in making products for that customer, the company said.
Capital Corp of the West (CCOW US) had the biggest gain since March 20, adding 18 percent to $7.62. The owner of County Bank in California's Central Valley said its performance in January and February has restored it to a ``well-capitalized position.'' The company delayed filing an annual report on March 18 because of a rapid decline in local real estate values.
Radio One Inc. (ROIAK) posted the steepest advance since June 2000, increasing 50 percent to $1.66. The owner of stations serving African-American audiences agreed to sell its Los Angeles radio station KRBV-FM to Bonneville International for about $137.5 million and authorized a $150 million stock repurchase program.
To contact the reporter on this story: Lynn Thomasson in New York at firstname.lastname@example.org.
To contact the editor responsible for this story: Chris Nagi at email@example.com.