Thursday's Small-Cap Winners & Losers

Shares of Peru Copper (CUP Quote) were sinking 25% after the company said another mining concern, Southern Copper (PCU Quote), submitted what it called a "frivolous" takeover bid.

Peru Copper had asked the American Stock Exchange and the Toronto Stock Exchange on Wednesday to halt trading in its shares. The company said it was "concerned about unusual trading activity" in light of Southern Copper's comments. Peru Copper said it believes that Southern Copper "had no intention of making a legitimate bid."

Shares of Peru Copper were losing $1.67 to $5.05. Southern Copper was down $6.18, or 7.7%, to $74.54.

Parlux Fragrances (PARL Quote) dropped after the Fort Lauderdale, Fla., company was downgraded by Wedbush Morgan to hold from strong buy. The analyst's report said the reason for the downgrade was due to "reduced visibility" on the recent launches of the Paris Hilton line of accessories, "which appear to have only gained minor distribution in the U.S."

The report also said that because the firm expected the product line to be a key driver of revenue and earnings growth in fiscal 2007, shares of Parlux might not see "meaningful appreciation" in the short term. Shares of Parlux fell $3.09, or 12.8%, to $21.01.

Luby's (LUB Quote) advanced after the Houston-based restaurant chain saw its third-quarter earnings rise. The company reported income of $6.9 million, or 25 cents a share, up from $3.7 million, or 15 cents a share, a year ago. Excluding a one-time income tax benefit of $2.5 million, the profit in the most recent quarter was $4.4 million, or 16 cents a share. Sales rose 3.4% to $78 million, and same-store sales increased 4%.

"While we are pleased with our continued sales increases, we remain focused on managing costs," Chris Pappas, president and CEO, said in a statement. "The cost environment for restaurant operators has become more challenging over the past year, especially due to energy cost increases that are affecting customers, vendors and restaurant operations." Shares of Luby's gained 80 cents, or 7.8%, to $11.10.