Updated from 2:17 p.m. EST with new stock prices
Small-cap stocks couldn't catch a break Tuesday, failing along with their broader-market counterparts to shore up investor support. The Russell 2000 sold off 3% to 701.80, and the S&P SmallCap 600 dropped 2.8% to 369.29.
Shares of San Jose, Calif.-based
(SIRF) continued Monday's evening's after-hours wipeout, losing more than half their value Tuesday to $7.36 on
Also breaking down was Powerwave Technologies (PWAV), shares of which fell 14.2% to $3.27. Last night, the Santa Ana, Calif., wireless company announced a fourth-quarter pro forma loss of $8.8 million, or 7 cents a share. Analysts polled by Thomson Financial were expecting a loss of a penny a share. For the year, including charges, Powerwave lost $308.7 million, or $2.37 a share, vs. $137.5 million, or $1.19 a share, in 2006.On the winning side, shares of Standard Pacific (SPF - Get Report) jumped 6.7% to $4.91. Despite a loss of $440.9 million, or $6.80 a share, compared with $98.4 million, or $1.53 a share, a year ago, investors were comforted by the Irvine, Calif., homebuilder's