Today's Small-Cap Winners and Losers

Shares of MIPS Technologies (MIPS Quote) were climbing a day after the Mountain View, Calif., microprocessor designer topped Wall Street's earnings and revenue estimates for the second quarter.

After the report, Adams Harkness raised its price target on MIPS to $11 from $8. Shares of MIPS Technologies rose 88 cents, or 11.4%, to $8.61 in recent trading.

Hydrogenics (HYGS Quote) was advancing after the designer and manufacturer of hydrogen and fuel cell systems said it supplied an on-site electrolysis-based hydrogen plant to a state-owned utility in Novorsibirsk, Russia. Shares of Ontario-based Hydrogenics rose 20 cents, or 5.7%, to $3.71 in recent trading.

Russell Corp.(RML Quote) jumped after the Atlanta-based athletic and sporting goods company announced a major restructuring that included the elimination of 2,300 jobs, including 1,700 in the U.S., and freezing its pension plan.

The company said about 1,200 jobs will eventually be replaced in Honduras and Mexico. Russell rose $1.10, or 8.2%, to $14.54 in recent trading.

Reliance Steel & Aluminum (RS Quote) rose after the Los Angeles-based company was upgraded by Bear Stearns to outperform from peer perform.

On Wednesday the company reached a deal to buy metals distributor Earle M. Jorgensen (JOR Quote) for $13 a share in cash and stock. Shares of Reliance Steel were up $4.27, or 6.2%, to $72.70.

Netflix(NFLX Quote) was lower after the Los Gatos, Calif., online movie rental company was downgraded by Bear Stearns to peer perform from outperform. Netflix slipped $1.73, or 6.8%, to $23.69.