Small stocks mirrored the rest of the rising market Wednesday as several names issued positive earnings reports.
Among these was Industrial Services of America (IDSA - Get Report), which surged 47.3% to $13.23 after the Louisville, Ky., management-services firm made a dime a share more than last year at 22 cents a share, or $793,000. RC2 (RCRC), a toymaker based in Oak Brook, Ill., bested per-share Wall Street estimates from Thomson Financial by 6 cents, with first-quarter earnings of 37 cents a share. Shares leapt 9% to $44.05.
Additionally, business-services firm Portfolio Recovery Associates (PRAA - Get Report), of Norfolk, Va., jumped 14.3% to $55.78 after reporting a healthy year-over-year rise in earnings to $12.9 million, or 80 cents a share -- 3 cents past estimates -- and tableware-products maker Libbey (LBY - Get Report) swung to a loss of 12 cents a share but still smashed expectations. Shares of the Toledo, Ohio, company rose $1.43, or 8.2%, to $18.79.
BioDelivery Sciences International (BDSI - Get Report), meanwhile, rocketed more than 30% in extremely heavy trading volume after the Morrisville, N.C., biotech's Bema Fentanyl treatment for breakthrough pain (severe bouts of pain that "break through" regular medication) yielded statistically significant results in late-phase testing on cancer patients. The study achieved its primary efficacy endpoint. Shares closed up $1.41 at $6.05.Elsewhere, sporting-goods maker K2 (KTO), based in Carlsbad, Calif., agreed to sell itself to Jarden (JAH) for $15.50 a share in cash and stock -- or $1.2 million including debt assumption -- in a deal that will likely close early in the third quarter. K2 shares lept $2.52, or 20%, to $15.10; Jarden fell 3.5% to $41.58.