S&P SmallCap 600 in Focus: SFN LCAV

NEW YORK - Spherion Corp. took the biggest gain on the Standard & Poor's SmallCap 600 Index, as markets were lifted ahead of the Federal Reserve's decision on interest rates.

The S&P 600 — which tracks stocks with a market capitalization between $300 million and $2 billion — rose 4.44 points, or 1.2 percent, to 379.42.

Small-cap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into big-cap stocks.

Shares of Spherion Corp. surged $1.17, or 25.6 percent, to $5.74 after a C.L. King analyst upgraded the recruiting and staffing company to "Strong Buy" from "Neutral."

Regional bank South Financial Group Inc. advanced 51 cents, or 12.9 percent, to $4.45.

Independent Bank Corp., a Midwest regional bank, rose 40 cents, or $10.39 to $4.25.

Among the decliners, LCA Vision Inc. plunged $1.39, or more than a fifth of its value, to $5.21 after the provider of laser-vision correction services said it expected volume to fall 40 percent in the second quarter. Shares hit a five-year low of $4.54 earlier in the session.

Apogee Enterprises tumbled $4.04, or 18.2 percent, to $18.12 after the glass maker said its fiscal first-quarter income fell 13 percent to miss analyst expectations.

Farm machinery maker Lindsay Corp. gave up $7.90, or 8 percent, to $91.40.

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