Small-cap stocks felt some pain Wednesday, dipping along with the major indices. The S&P SmallCap 600 fell 0.4% to 388.19, and the Russell 2000 dropped 0.5% to 745.46.
Among the down day's most trod-upon was
(JMBA - Get Report)
, shares of which got juiced by 26% to $3.28 on earnings and a downgrade to hold from buy from Morgan Joseph. The Emeryville, Calif., smoothie stand reported fiscal third-quarter income of $22.4 million, or 40 cents a share, which included a pre-tax non-cash gain of $23.3 million, or 42 cents a share. Excluding this gain, the company lost $900,000, or 2 cents a share, which is narrower than the a year-ago loss of $19 million, or 92 cents a share, but shy of the penny-a-share loss analysts were expecting.
China Finance Online
(JRJC - Get Report)
likewise got pounded, dropping 19% to $24.04 after reporting third-quarter earnings that fell below analyst expectations. The Beijing financial reported income of $1.9 million, or 8 cents per American depositary share, compared to income of $557,000, or 3 cents per ADS, in the year-ago quarter. Two analysts polled by Thomson Financial expected earnings of 12 cents a share.
Some stocks, including
China Precision Steel
, managed to beat the trend and post gains. The Hong Kong outfit traded 17% higher to $5.05 after posting fiscal first-quarter results that included 141% top-line growth to $25.3 million. The company reported earnings of $2.9 million, or 8 cents a share, compared with 12 cents a share on the same income in the year-ago quarter. Gross profits were also up 37%, to $5.1 million.