Market Overview

Benzinga's Small Cap Movers for Wednesday December 26, 2012

Below are highlights from Benzinga's daily coverage of small cap securities making big moves:

Lucas Energy

Shares of Lucas Energy (NYSE: LEI), the Houston, TX independent oil and gas company, rose 26% Wednesday on almost 3 times average volume.

Lucas Energy today announced Friday that it had completed the sale of a 0.77% net royalty interest in certain assets owned by the Company within the Baker Deforest Unit, located in Gonzales and Dewitt Counties, Texas, for $4 million.

On December 20, 2012, Lucas amended and restated its Bylaws, to among other things, make such Bylaws more stockholder friendly.

Lucas Energy closed at $1.45 on Wednesday.

SGOCO Group

Shares of SGOCO Group (NASDAQ: SGOC), the China-based company focused on product design, brand development and distribution in the Chinese flat panel display market, rose 13% Wednesday on average volume.

SGOCO Group announced Monday the company's annual shareholders meeting will be held on December 28, 2012, at 9:00 a.m. Beijing Time.

SGOCO is transitioning to a "light-asset" business model. The company is implementing several strategic initiatives that are expected to drive and contribute to its revenue and profit growth over the next 12-24 months including expanding its existing flat-panel display product lines to include e-boards and smart phones and continuing to expand into the US flat-panel display market.

SGOCO Group closed at $1.58 on Wednesday.

Furniture Brands International

Shares of Furniture Brands International (NYSE: FBN), the St. Louis, MO home furnishings manufacturer and retailer, rose 5% Wednesday on 3.5 times average volume.

A positive Seeking Alpha article most likely was responsible for the strength in the stock.

Furniture Brands announced Friday that it had received a continued listing standards notice from the New York Stock Exchange because the price of its common stock has fallen below the NYSE's minimum share price rule.

Furniture Brands International closed at $1.01 on Wednesday.

The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Posted-In: Long Ideas News Short Ideas Small Cap Global After-Hours Center Movers Trading Ideas

 

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