Wednesday's Small-Cap Winners & Losers
Small-cap stocks plunged in tandem with the major indices Wednesday, and some of the worst losers came out of the tech sector.
Among these was Edgewater Technology (EDGW), which plummeted 15.8% after the purveyor of information-technology services made just $914,000, or 7 cents a share, in the third quarter. The analyst who follows the company was looking for earnings to stay flat with last year's 9 cents a share, according to Thomson Financial. Shares of the Massachusetts firm were off $1.49 to $7.93.
Epicor Software (EPIC), of Irvine, Calif., lost 7.3% to $12 after missing third-quarter estimates by a penny a share with non-GAAP income of $12.7 million, or 22 cents a share. Revenue, at $103.1 million, came in below the $107.6 million consensus.
A few small-cap chipmakers were also on the decline, among them New Jersey's Anadigics (ANAD), and California-based Supertex (SUPX), each of which came in under Wall Street's earnings expectations for the most recent quarter. Anadigics tumbled 20.4% to $15.40; Supertex slid 13.9% to $36.84.And AMIS (AMIS), parent to AMI Semiconductor, was off 13.9% after delaying its earnings release due to an internal review of its February 2007 standard cost valuation of inventories and related issues. The Idaho-based company plans to release those financials during the week of Nov. 5 and to turn in its regulatory filing on time, but it said there's a chance this could change.
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