Wednesday's Small-Cap Winners & Losers

Small-stocks traded comfortably in the green Wednesday, amid leaping names like Hana Biosciences (HNAB Quote).

The California-based biotech soared 27.9% after saying that Marqibo, its proposed treatment for acute lymphoblastic leukemia, received fast track designation from the Food and Drug Administration for patients suffering a second relapse, or who have failed two lines of prior therapy. Marqibo has already been granted this status for first-line treatment. Shares were trading at $1.71.

Bally Technologies (BYI Quote), a Las Vegas-based maker of products for the commercial-gaming industry, was upped to sector outperform at CIBC World Markets on the heels of better-than-expected guidance for fiscal 2007 and 2008.

Bally said fiscal 2007 earnings should exceed 51 cents a share, with 2008 EPS expected to range between around $1.39 and $1.69 a share. Analysts polled by Thomson Financial are looking for 28 cents a share in fiscal 2007 and $1.01 in 2008.

Bally shares ballooned 19.4% in support of the Russell 2000, which was recently climbing 1.1% at 796.9. The S&P SmallCap 600 rose 1% to 418.4, despite a precipitous drop at Tween Brands (TWB Quote).

The New Albany, Ohio-based girls' apparel retailer -- a member of both indices -- plunged 27.6% to $27.95 after more than halving its fiscal second-quarter profit to $2.1 million, or 7 cents a share, vs. Wall Street's 15-cent per-share expectations. The company, which operates the Limited Too chain, also predicted far-lower-than-expected third-quarter earnings of 40 cents to 45 cents a share.

Abatix (ABIX Quote), a Dallas-based maker of personal-protection and safety equipment, also floundered after announcing it will voluntarily delist from the Nasdaq, citing burgeoning "costs and corporate-governance requirements associated with being a reporting company." Shares slid $2, or 23%, to $6.68.

And SXC Health Solutions (SXCI Quote) gave up 11.1% after a "competitor's protest" cost the Lisle, Ill.-based company a "notice of intent to award" for a $27.3 million contract with an unnamed entity. The health care information technology firm had first announced the possibility of this contract in June. Shares slid $2.15 to $17.15.