HEADLINE STOCKS-U.S. small/midcap stocks on the move on June 2

(For large-cap stocks on the move, click on [WATCH/US])
(Adds Rowan and updates share movement)

June 2 (BestGrowthStock) – Some small and midcap stocks on the move

GERDAU AMERISTEEL CORP (GNA.N: ), $11.08, up 55 pct

Brazilian steelmaker Gerdau SA said it plans to take full
ownership of its North American unit in a deal valued at up to
$1.7 billion as it seeks to cut debt servicing costs.

DIVX INC (DIVX.O: ), $8.74, up 26 pct

SONIC SOLUTIONS (SNIC.O: ), $10.64, down 10 pct

Sonic Solutions agreed to acquire video compression
software maker DivX for about $323 million in cash and stock to
boost its Internet-based video delivery products.

CANADIAN SOLAR (CSIQ.O: ), $10.26, down 14 pct

At least two brokerages slashed their price targets on the
Chinese solar-cell maker, a day after it received a subpoena
from U.S. regulators seeking documents relating to some sales
in 2009. [ID:nSGE6510EI]

LAYNE CHRISTENSEN CO’S (LAYN.O: ), $26.70, up 12 pct

The drilling and construction services provider’s quarterly
results raced past estimates as revenue at its mineral
exploration division rose 85 percent. [ID:nSGE6510FP]

TESSERA TECHNOLOGIES INC (TSRA.O: ), $18.84, up 12 pct

The chip technology developer raised its second-quarter
revenue outlook on better-than-expected royalties from some of
its micro-electronics customers and increased sales of its
micro-optics product. [ID:nSGE6510G7]

AVI BIOPHARMA INC (AVII.O: ), $1.53, up 11 pct

The biotechnology company said its experimental drug to
treat a genetic muscle-wasting disease showed positive results
in a clinical study. [ID:nSGE6510FV]

LOCAL COM CORP (LOCM.O: ), $8.29, up 10 pct

The company forecast second-quarter earnings above Wall
Street view. [ID:nASA00F0T]

RBC BEARINGS INC’S (ROLL.O: ), $29.48, up 7 pct

The ball bearings maker’s quarterly profit rose 49 percent
helped by lower expenses and higher sales at its industrial
business. [ID:nSGE6510GI]

SHOE CARNIVAL INC (SCVL.O: ), $23.68, down 6 pct

The company’s first-quarter profit (Read more your timing to make a profit.) edged past market
estimates, helped by higher margins and strong sales of
athletic and toning footwear, but the retailer forecast
second-quarter profit (Read more your timing to make a profit.) largely below Wall Street expectations.


The company said it plans to launch its genetic-disorder
drug in Japan in the third quarter, about three months earlier
than expected, and raised its full-year outlook.

UNITED NATURAL FOODS INC’S (UNFI.O: ), $32.77, up 6 pct

The company’s third-quarter profit (Read more your timing to make a profit.) beat estimates, helped
by a double-digit increase in sales, and the company raised its
full-year sales view above Wall Street expectations.

ROWAN COS (RDC.N: ), $23.90, up 4 pct

Raymond James raised contract driller Rowan to “outperform”
from “market perform,” citing the U.S. government’s decision to
reinstate shallow-water drilling in the Gulf of Mexico.

SANDRIDGE ENERGY INC (SD.N: ), $5.95, down 2.5 pct

ARENA RESOURCES INC (ARD.N: ), $33.67, up 7 pct

Oil and natural gas explorer SandRidge said it agreed to
raise the cash portion of its deal to acquire rival Arena, now
valuing the deal at $1.33 billion.

Growth Stocks

(Reporting by Archana Shankar in Bangalore)

HEADLINE STOCKS-U.S. small/midcap stocks on the move on June 2