Thursday's Small-Cap Winners & Losers

Elsewhere, Ohio's Jo-Ann Stores (JAS Quote) quartered its losses from last year to 7 cents a share. This meets Wall Street expectations, per Thomson Financial. JoAnn shares added 9.5% to $33.82, helping to boost both the Russell 2000 and the S&P SmallCap 600 -- each higher by 0.5%.

Among sliding small-cap names, however, Novacea (NOVC Quote) pulled back a bit from Wednesday's giant leap after a Bear Stearns analyst cut its rating to peer perform from outperform, citing valuation. Yesterday, shares exploded on word of a lucrative new deal with Schering-Plough (SGP Quote). Today, shares lost 15.1% to $12.74.

Blyth (BTH Quote) sank 9.2% after the home-goods retailer shaved a nickel off its fiscal 2008 income guidance to range between $1.02 to $1.12 a share. Excluding items, its profit should be between $1.32 and $1.37 a share, or at least a penny under two analysts' estimates. Earnings for the quarter ended April 30 far exceeded expectations, but shares were still off $2.78, at $27.44.