Thursday's Small-Cap Winners & Losers

Small-cap stocks got walloped along with the broader market Thursday as mortgage concerns sent several stocks deep into the red. The Russell 2000 fell 3.1% to 662.78, and the S&P SmallCap 600 dropped 2.5% to 354.01.

Women's apparel retailer Coldwater Creek CWTR fell 20% to $4.04. Wednesday after the close, the Sandpoint, Idaho-based firm swung to a fourth-quarter loss of $17 million, or 19 cents a share, from a profit of $15.9 million, or 17 cents a share, in 2006. The loss was in line with analysts' expectations, per Thomson Financial, but Coldwater Creek guided for a first-quarter loss of 14 cents to 17 cents a share, below the Street's view of a 4-cent loss. This morning, Roth Capital downgraded the stock to hold from buy.

Meanwhile, Union Drilling UDRL, a Fort Worth, Texas-based contract land drilling services company, stumbled 27% to $15.32. For the fourth quarter, earnings decreased to $3.9 million, or 18 cents a share, from $8.6 million, or 40 cents a share, in the year-ago quarter.

Orbitz OWW also got hurt, falling 25% to $4.90 on fourth-quarter earnings. Adjusting for items, the Chicago online-travel company posted income of $10 million, or 12 cents a share, compared with $13 million, or 16 cents a share, in 2006. Earnings per share were in line, but revenue of $197 million fell short of the Street's forecast for $201.2 million.

On the winning side, shares of Aliso Viejo, Calif.'s Smith Micro SMSI, which develops wireless communication software, rocketed up 28.5% to $6.57. Wednesday evening, Smith Micro posted non-GAAP fourth-quarter earnings of $7.8 million, or a quarter a share, compared with $7 million, or 26 cents a share, a year ago. Analysts were looking for 20 cents a share. This morning, Northland Securities upgraded Smith Micro to outperform from market perform.

Capstone Turbine CPST, a maker of microturbine technology solutions based in Chatsworth, Calif., announced it received an order from Eco Power Technology for 15 microturbines to be deployed in hybrid electric buses in Italy. Terms of the deal weren't disclosed. Shares climbed 4.8% to $2.17.