Updated from 2:07 p.m. EST with new stock prices
Small-cap stocks were on the rise Wednesday, trying to keep up with the major indices. The Russell 2000 was up 1.03% to 712.15, and the S&P SmallCap 600 was up 1.06% to 369.04.
Spectrum Control (SPEC) got clocked, losing 31% to $9.76 on a disappointing fourth quarter. The Fairview, Pa.-based maker of electronic control products posted income of $3.2 million, or 23 cents a share, vs. $2 million, or 15 cents a share in the year-ago quarter. The results fell short of one analyst's expectation for EPS of 25 cents, per Thomson Financial.
Also sinking was Premier Exhibitions (PRXI - Get Report). The Atlanta-based owner of the Titanic wreck and the "Bodies" human anatomy exhibitions reported third-quarter income of $2.7 million, or 8 cents a share, vs. $2.2 million, or 7 cents a share, a year ago. Analysts were expecting 13 cents a share. The company also lowered 2008 EPS guidance to between 38 cents and 46 cents. The Street is calling for 60 cents. Shares tumbled 14.2% to $7.44.On the winning side, Robbins and Myers (RBN), a Dayton, Ohio-based maker of chemical, energy, industrial and pharmaceutical equipment, jumped 12.6% to $77.12 after it announcing solid first-quarter results, raised guidance, a stock split and a dividend increase. For its fiscal first quarter ended Nov. 30, the company recorded earnings of $13.9 million, or 80 cents a share, vs. $10.6 million, or 62 cents a share, in 2006. The results beat analyst expectations for $11.4 million, or 67 cents a share. Robbins and Myers raised EPS guidance for 2008 to between $3.55 and $3.75 from between $3.30 and $3.50, while the Street is looking for $3.60.