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Friday's Small-Cap Winners & Losers

Updated from 2:41 p.m. EST with new stock prices

Small-cap stocks led the pack Friday, mostly surviving a broader-market dip as the major indices took a dip into the red.

Greenville, S.C.'s ScanSource (SCSC - Get Report), a wholesale distributor of specialty technology products, saw shares climb 19.2% to $30.63 on the conclusion of an Securities and Exchange Commission investigation, second-quarter earnings and an upgrade. The company announced Thursday after the close that the SEC had determined that no enforcement action was recommended regarding its historical stock option grant practices.

Also on Thursday evening, ScanSource reported fiscal second-quarter earnings of $15.5 million, or 59 cents a share, vs. $11.8 million, or 45 cents a share, in the year-ago quarter. The Street was looking for 48 cents a share. Bear Stearns bolstered the earnings beat this morning with an upgrade to peer perform from underperform.

Meanwhile, Arkansas Best (ABFS) shares jumped 16.8% to $27.45 on fourth-quarter 2007 earnings. The Fort Smith, Ark.-based trucker reported income of $13.5 million, or 54 cents a share, compared with $14.2 million, or 56 cents a share, a year ago. The EPS figure missed the mean analyst estimate by a penny, but a year-over-year revenue increase to $459.3 million from $454.9 million helped assuage investors.

On the strength of fourth-quarter 2007 earnings, Technitrol (TNL) shares rose 16.8% to $23.08. The Trevose, Pa.-based producer of precision-engineered electronic components posted non-GAAP EPS of 52 cents, vs. 40 cents in 2006, which was in line with analyst estimates.

On the losing side, Canadian organic food concern SunOpta (STKL - Get Report) fell 36.7% to $6.05 on frenzied volume. On Thursday evening, the company chopped its full-year 2007 EPS outlook to between 12 cents and 14 cents from a previous range of 35 cents to 40 cents. Wall Street is expecting EPS of 34 cents. SunOpta is investigating adjustments related to its Fruit Group berry operations, and may have to revise previous financial statements. Northland Securities piled on, downgrading the stock to market perform from outperform.

Also in trouble was fellow Canadian Crystallex (KRY), which mines for gold in Venezuela. The company announced last night that it would sell 28.6 million shares for C$60 million (US$59.6 million), or C$2.10 each (US$2.09), to a syndicate of underwriters for development of one of its mines. Shares slipped 9.1% to $2.00.

More broadly, the Russell 2000 was down 0.6% at 688.62, and the S&P SmallCap 600 was down 0.6% at 360.18.

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ABFS $34.95 2.22%
SCSC $40.37 -0.57%
STKL $4.88 -2.60%
AAPL $94.19 -1.04%
FB $118.06 0.54%


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