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:
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.
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.
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