Tuesday's Small-Cap Winners & Losers
Domino's Pizza (DPZ) was among the losers in a generally bearish session for small-cap stocks, which slumped in concert with the major indices.
Shares of the pizza chain gave up 12.7% after it halved adjusted third-quarter earnings to 17 cents a share, or $11 million, compared with last year. Analysts were looking for 6 cents more per share, according to Thomson Financial. Revenue came to $337.3 million, or $13.3 million under consensus. Shares of the Ann Arbor, Mich., company were off $2.11 to $14.45.
That helped to sour the Russell 2000, which was down around 6 points, or 0.7%, to about 824. The S&P SmallCap 600 also sank about that much.
Occam Networks (OCNW), of Santa Barbara, Calif., plummeted 30% to $6.46 after the networking-equipment maker restated downward its financials for fiscal 2004 through 2006 following a review of its prior revenue-recognition practices. Its total loss for the period will widen by some $2.1 million, or 31 cents a share, to $23 million.Industrial Enterprises of America (IEAM), a purveyor of anti-freeze and other additives and chemicals, is conducting its own revenue-recognition policy review regarding "bill and hold" transactions as part of a larger accounting-practices evaluation. Shares of the New York company slid 17% to $3.31. Fuwei Films (FFHL), meanwhile, surrendered more than 21% after announcing that arrest warrants have been issued for major shareholders Jun Yin, Duo Wang and Tongju Zhou, for the suspected "crime of irregularities for favoritism and to sell state-owned assets at low prices." Fuwei first announced the related probe in June.
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