Wednesday's Small-Cap Winners & Losers
Updated from 2:44 p.m. EST with new stock prices
Small-cap stocks started Wednesday lagging the sluggish major indices only to ease back into positive territory in afternoon trading. The Russell 2000 recently edged up 0.3% to 797.03.
Among the day's winners, MRV Communications (MRVC) saw shares rise 21.4% to $2.50 after Source Photonics, a subsidiary of the Chatsworth, Calif., communications equipment maker, registered with the Securities and Exchange Commission for an initial public offering. Terms were not disclosed.
Meanwhile, Newark, N.Y.-based Ultralife Batteries (ULBI) jumped 16.5% to $19.52 after announcing it had landed a $40 million defense subcontract from an unidentified U.S. defense contractor to supply advanced communication systems. This order is a follow-on to another $62 million deal made announced last week. Ultralife said it expects to deliver the systems sometime in 2008.Also rising was Akeena Solar (AKNS). The Los Gatos, Calif., maker of solar power systems announced that Comerica Bank has agreed to increase Akeena's credit line from $7.5 million to $25 million. Shares leapt 22.4% to $8.10. On the losing side, broader sector declines sent shares of some small-caps sliding. Following a holiday spike in oil prices, investors sold off airline stocks, sending Phoenix, Ariz.-based Mesa Air (MESA) down 6.8% to $3.31. Homebuilders were also hurt as Standard & Poor's reported an October decline in home prices. Irvine, Calif.'s Standard Pacific Corp. (SPF) lost 3% to $3.83. M/I Homes (MHO), based in Columbus, Ohio, lost 5.2% to $10.29, and Meritage Homes (MTH) took a 4.1% tumble to $15.81.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV