Tuesday's Small-Cap Winners & Losers
Small-cap stocks traded beneath most of the market for the third straight session, and UTStarcom (UTSI) was among the most prominent losers.
Shares of the Alameda, Calif., telecom firm slid 17.6% to $3.90 after announcing an independent review of sales contracts with China-based customers, which "could impact" past relevant revenue and possibly further delay the filing of its delinquent and upcoming regulatory reports. The company also said its prior stock-option-grant review will result in about a $28 million noncash restatement from 2000 through 2006.
Moissanite-jewels distributor Charles & Colvard (CTHR), based in Morrisville, N.C., sliced its second-quarter income in half from last year to 3 cents a share, or $529,000. Analysts polled by Thomson Financial were looking for the company to flat-line. Shares tumbled 18.7% to $4.23.
Also turning in disappointing financials was Marten Transport (MRTN). The Wisconsin-based trucking company posted a shrinking second-quarter profit of 20 cents a share that widely missed the 29-cent analyst consensus. Revenue, at $138.8 million, was also lower than expected. Shares surrendered 15% to $15.06.Volterra Semiconductor (VLTR), of Fremont, Calif., shed 11.6% after swinging to a wider loss than what the Street had forecast. That pressured the Russell 2000 Index, which plummeted 3% to 810.64. The S&P SmallCap 600 slumped 11.39 points, or 2.6%, to 426.35. On the other hand, Virginian real estate investment trust Republic Property Trust (RPB) soared 23% after agreeing to sell itself to Liberty Property Trust (LRY) for $14.70 a share in cash -- a 28% premium to its latest closing price. The $850 million deal should close in the fourth quarter. Republic shares were trading at $14.12 as Liberty Property lost 6.4% to $40.17.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV