Wednesday's Small-Cap Winners & Losers

Updated from 1:36 p.m. EDT with new stock prices

Small-cap stocks traded close to the baseline along with the broader market Wednesday morning, only to sell off at the end of the day. The Russell 2000 lost 2.6% to 664.13, and the S&P SmallCap 600 fell 2.6% to 353.55.

Shares of financial and entertainment media firm Xinhua Finance Media (XFML Quote) jumped 34.1% to $2.71. The Beijing company announced that two of its Fortune China financial TV programs, "Fortune China Weekly" and "Fortune Celebrity," have added landing coverage to 80 channels across 24 Chinese provinces.

Lindsay Corp. (LNN Quote), an Omaha, Neb.-based maker of automated irrigation systems, climbed 17.8% to $89.85 on second-quarter fiscal 2008 earnings. The company announced income of $9.7 million, or 79 cents a share, vs. $2.5 million, or 21 cents a share, in the year-ago quarter. This year's EPS results included 5 cents in one-time charges. The company forecast robust demand for the remainder of 2008.

Meanwhile, Minneapolis restaurant franchiser Buffalo Wild Wings (BWLD Quote) saw shares rise 9.6% to $23.27 on an SMH Capital upgrade to buy from sell.

Also climbing on an upgrade was Sanderson Farms (SAFM Quote). JPMorgan upgraded the Laurel, Miss., integrated poultry processing company to overweight from neutral. Shares surged 6.3% to $39.49.

On the losing side, Internap (INAP Quote) shares were fell 33.2% to $4.09 on news of a delayed regulatory filing. The Atlanta company, which offers a suite of network optimization solutions, announced Tuesday after the close it was filling a Form 12b-25, a notification of late filing that extends its March 17 filing deadline for its Form 10-K annual report for 2007. The delay results from requests for customer credits subsequent to year end that will increase its sales return allowance by between $1 million and $2 million. This morning, Merriman Curhan Ford downgraded the stock to neutral from buy.

Shares of Phoenix, Ariz.-based maker of satellite and cable communications technology Radyne (RADN Quote) was downgraded by Roth Capital to hold from buy. Radyne also announced this morning a $1.2 million order from Globalstar (GSAT Quote). Shareholders weren't impressed, selling the stock down 15.9% to $7.21.

Finally, SI International (SINT Quote), a Reston, Va., provider of information services, technology and network solutions to the federal government, gave up 20.2% to $19.54 on a lowered first-quarter outlook. Tuesday evening, the company announced revenue would range from $128 million to $130 million and income would come in between $3.2 million and $3.6 million, or 24 cents to 27 cents a share. The Street is looking for 33 cents a share on revenue of $136.4 million.