Today's Small-Cap Winners and Losers

Crown Media Holdings (CRWN Quote) gained ground after the Colorado-based pay-television channel operator narrowed its fourth-quarter loss.

The company, which operates and distributes the Hallmark Channel, reported a loss of $59.8 million, or 57 cents a share, compared with a loss of $129 million, or $1.23 a share, a year ago. Revenue rose 39% to $60.5 million. Shares of Crown advanced 47 cents, or 8.3%, to $6.15.

LoJack (LOJN Quote) shares were higher on news the company will replace Intrado (TRDO Quote) in the S&P SmallCap 600 after the close of trading on April 4. Intrado is being acquired by West Corp. (WSTC Quote) in a deal expected to close on or about that date.

Shares of LoJack, a Massachusetts-based maker of vehicle-tracking systems, climbed $1.62, or 7.4%, to $23.42.

Tarpon Industries (TPO Quote), a maker of steel tubing and steel storage-rack systems, surged on word that the company signed a contract with an Internet retailer.

The contract, valued at roughly $3 million, covers the design and installation of a four-level picking module in the new customer's 850,000-square-foot distribution warehouse. The identification of Tarpon's new account was withheld at the customer's request. Shares of Tarpon were jumping 49 cents, or 19.5%, to $3.

TEL Offshore Trust (TELOZ Quote) was under selling pressure a day after the firm, which owns stakes in oil and gas properties off the coast of Louisiana, said there would be no income distribution for the first quarter for unitholders of record on March 31.

The company said last year's hurricanes in the Gulf of Mexico had disrupted operations and lowered the revenue it collects. TEL was dropping $1.41, or 14.1%, to $8.53.

Heartland Partners (HTL Quote), whose shares have essentially doubled in the last week, was losing 10.5% in recent trading. The company said Tuesday that it doesn't believe there's any undisclosed information that would account for the recent activity in its Class A units.

Heartland, a Chicago-based real estate limited partnership, was falling 24 cents to $2.05. Heartland closed at $1.07 on March 23.