Wednesday's Small-Cap Winners & Losers
Small-cap stocks put up strong numbers Wednesday, though they generally trailed behind the major indices.
Canadian Solar (CSIQ) powered up on unusually high volume. The China-based provider of solar technology vaulted 30% to $14.53 after posting third-quarter earnings of 2 cents a share, or $522,000, up a penny a share from a year ago. Analysts polled by Thomson Financial expected a loss of 2 cents a share.
Also flying high was Reno, Nev.-based Altair Nanotech (ALTI). The company announced that a recently signed U.S. defense bill would allocate $7 million in federal funding to its sensor and energy-efficient battery projects. Shares rocketed 6.7% to $4.14.
Shares of China Direct (CDS) lifted 10.5% to $9.55 thanks to solid third-quarter earnings. The Boca Raton, Fla.-based company, which provides management and consulting services to Chinese businesses, swung to a profit on revenue that skyrocketed to $44 million. The revenue explosion yielded EPS of 16 cents, or $3 million, up from a loss of 2 cents a share in the year-ago quarter.Meanwhile, Hackensack, N.J., outsourcing-services provider Innodata Isogen (INOD) saw shares vault 45% to $5.78 on third-quarter earnings and raised guidance for the fourth quarter. Revenue growth of 74% fueled earnings of 8 cents a share, or $2.1 million, compared with a loss of 9 cents a share in third quarter 2006.
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