Friday's Small-Cap Winners & Losers

Small-cap stocks hung onto the broader market's halting climb Friday as various pieces of positive news buoyed the sector.

Limelight Networks (LLNW Quote) was one of the biggest winners, soaring 47% to $22.05 after its initial public offering. The Tempe, Ariz., network-services company priced 16 million shares at $15 a pop, along with an underwriters' option for up to another 2.4 million shares.

Herley Industries (HRLY Quote), of Lancaster, Pa., leapt 9.9% to $17.59 after fiscal third-quarter income vaulted to $14 million, or 27 cents a share, from 11 cents a share last year. That tops per-share estimates by a nickel, according to Thomson Financial.

Leading Brands (LBIX Quote) rode high after the company launched a new energy drink in North America called Stoked. Shares jumped 10.7% to $4.54.

Elsewhere, grocery-store chain Spartan Stores (SPTN Quote), based in Grand Rapids, Mich., rose on a Friedman Billings upgrade to outperform. The analyst said Wal-Mart's (WMT Quote) recent decision to cut back on new store openings will give room for Spartan to grow. Spartan shares climbed 7.3% to $28.70; Wal-Mart recently added 0.5% to $50.

And Chuck E. Cheese operator CEC Entertainment (CEC Quote), a member of both the Russell 2000 and the S&P SmallCap 600, was raised to hold from sell at Matrix Research. The Texas-based company was up 2.2% to $38.60.

The Russell 2000, which also contains Herley and Spartan, lifted 0.5% at 829.1. The S&P SmallCap was 0.3% higher at 429.02.