Wednesday's Small-Cap Winners & Losers

Greenfield Online (SRVY Quote) soared 20.1% after third-quarter earnings smashed Wall Street expectations. The Wilton, Conn., online market research company earned $1.8 million, or 7 cents a share, including a one-time charge of $400,000 related to a management change, compared with $1.6 million, or 6 cents a share, a year ago. Analysts polled by Thomson First Call were looking for earnings of 2 cents a share. Revenue also rose to $24.9 million from $23.1 million a year ago. The company upped its guidance and is now expecting full fiscal-year revenue of between $93 million and $97 million, compared with its previous forecast of $88 million to $95 million. Shares were trading up $2.05 to $12.23.

Union Drilling (UDRL Quote) shares jumped after the Fort Worth, Texas, drilling company reported sharply higher third-quarter earnings. The company earned $9.8 million, or 45 cents a share, compared with $13,000 a year ago. Revenue totaled $69.5 million, up 60.7% from a year ago. Shares were up $1.47, or 11.5%, to $14.27.

Hollis-Eden Pharmaceuticals (HEPH Quote) tumbled after the San-Diego based company announced it will sell 4 million of its shares at a discounted price to new and existing institutional investors in order to raise $26 million. Hollis-Eden has set the discount price at $6.50 a share, an 11% reduction from Tuesday's $7.34 closing price. The company also said it will issue these investors four-year warrants for the purchase of up to 800,000 more shares at an exercise price of $8.75 each. Hollis expects the deal to close on or around Nov. 13. Shares were down $1.20, or 16.4%, to $6.14.