Wednesday's Small-Cap Winners & Losers
Small-cap stocks moved tightly with the major indices Wednesday, delivering a slight afternoon recovery after a bumpy morning in the red.
Among the biggest gainers was Hawaii's Hoku Scientific (HOKU), which jumped 9.4% to $4.67 on word its Hoku Solar subsidiary is entering negotiations to sell a solar-power system to Hawaii's main electric utility, Hawaiian Electric Co., for use at one of HECO's facilities. Hoku was chosen for this in what it calls a "competitive bidding process."
Wireless Facilities (WFII) meanwhile bounced 7.4% at $1.60 on word LCC International (LCCI) agreed to buy its U.S. Wireless Engineering business for $46 million total, including $17 million in cash on closing. LCC added 0.6% to $3.54.
As for positive analyst research, Sterne Agee sharply lifted True Religion Apparel's (TRLG) rating to buy from sell, saying the Vernon, Calif., jeans maker could rake in far higher revenue for a strong second half via licensing agreements and new store openings, among other things. Shares leapt 13.5% to $17.50.Wireless Facilities and True Religion helped push the Russell 2000 up 0.4% to 840.81 as the S&P SmallCap 600 gained 0.5% to 436.86. An S&P SmallCap component, Daktronics (DAKT), weighed on the index after the South Dakota-based company predicted fiscal first-quarter earnings of 9 cents to 16 cents a share, which leans to the lower end of Thomson Financial's analysts' consensus. Per-share earnings for the quarter ended April 28 also nearly halved to 9 cents, though analysts were seeking 8 cents. Shares of the company, which makes electronic scoreboards and other digital display equipment, retreated 2% to $24.62.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV