Wednesday's Small-Cap Winners & Losers

Small-cap stocks outperformed the rest of the market Wednesday, and one of the biggest winners was search-engine operator Copernic (CNIC).

Shares of the Canada-based company, which used to go by Mamma.com, more than doubled on word the Securities and Exchange Commission ended its probe into certain trading of its stock in 2004. No action will be recommended against the company. Shares vaulted $1.87 to $3.64.

Xinhua Finance Media (XFML), a China-based financial-and-entertainment media company, said The Yucaipa Companies has agreed to buy an unspecified number of shares from certain holders who are finally free to sell following Xinhua's initial public offering earlier this year. As part of this, Yucaipa partner David Olson will join the company's board of directors. Shares recently jumped 10.4% to $8.70.

Fellow China-based outfit Fushi International (FSIN), a maker of bimetallic composite wire products, rode high after agreeing to buy out Tennessee-based Copperweld Bimetallics for $22.5 million. The deal, which should be accretive to earnings in 2008, will probably finalize in the beginning of the fourth quarter. Fushi shares soared 15.8% to $13.20.

GenCorp (GY), which makes aerospace and defense products, swung to a continuing-operations profit of $16 million, or 25 cents a share, in the quarter ended Aug. 31. Sales leapt 25.4% year over year to $198.5 million. Bottom-line numbers include a big income-tax benefit and exclude the effect of an accounting-principle change.

By that same measure, a year ago the Rancho Cordova, Calif., company lost $14.6 million, or 26 cents a share. Shares bounced 67 cents, or 5.9%, to $11.98.