Friday's Small-Cap Winners & Losers
The slouching major indices helped grind down on the small-cap sector Friday, and among the losers was Nanophase Technologies (NANX).
Shares slid 14.2% after the nanomaterials maker lost $963,000, or a nickel a share, in the third quarter -- essentially as much as it did last year. Analysts were calling for the loss to narrow by 4 cents year over year, according to Thomson Financial. Sales edged up slightly to $2.6 million, but that missed the $4.4 million average estimate. Shares of the Romeoville, Ill., nanomaterials maker were down 94 cents to $5.70.
Also falling on disappointing earnings was UTStarcom (UTSI), which sharply widened its fiscal second-quarter loss to $61.7 million, or 51 cents a share, from a loss of 19 cents a share last year. Analysts were calling for the Alameda, Calif., communications equipment maker to lose just 33 cents a share. Its stock sank 12.9% to $3.85.
And Levitt (LEV) retreated after Sun-Sentinel, of south Florida, reported that the company's Fort Lauderdale subsidiary, Levitt and Sons, has stopped homebuilding operations pending a restructuring of its debt. Shares were down 5.7% to $2.31.On the other hand, Steve Madden (SHOO) leapt 11.9% after the shoe purveyor said it has received inquiries regarding a possible company takeout and has formed a committee to evaluate "any potential transaction." Shares of the Long Island City, N.Y., retailer climbed $2.35 to $22.04.
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