Friday's Small-Cap Winners & Losers

Star Scientific(STSI Quote), which makes products that aim to prevent the formation of carcinogens in tobacco leaf and smoke, soared more than 50% on no news Friday afternoon. More recently, the stock was up 42.8% to $1.97 on volume more than seven times its three-month average.

Gun maker Smith & Wesson(SWHC Quote) jumped 12.2% after fiscal third-quarter earnings beat Wall Street's estimates. The company swung to a loss of $1.8 million, or 4 cents per share, compared with a profit of $1.6 million, or 4 cents per share, in the year-ago period. Analysts polled by Thomson Financial expected a loss of 6 cents a share, excluding items. The stock gained 52 cents to $12.80.

Reddy Ice Holdings(FRZ Quote) plummeted as much as 48% after it said in a press release that it the Department of Justice executed a search warrant at its Dallas office in connection with a probe into the packaged ice industry. Shares more recently were trading down 37% to $14.55.

PeopleSupport(PSPT Quote), which provides offshore business process outsourcing like call and email handling, was tumbling 27.8% after a poor earnings report. Piper Jaffray downgraded the stock to neutral from buy and RBC Capital Markets lowered its view to sector perform from outperform, after the company offered disappointing second-quarter and full-year guidance. Shares were losing $3.17 to $8.23.