Small-cap stocks saw mixed trading Thursday as more congressional testimony by Federal Reserve Chairman Ben Bernanke left investors hesitant.
Shares of Syntax-Brillian (BRLC), a Tempe, Ariz.-based maker of high-definition TVs, jumped 16% to $1.23. The company announced a partnership with Compal Electronics, under which Compal will fill an initial manufacturing order of 300,000 televisions in its Chinese facility. Syntax-Brillian CEO James Li said that the move was key to the company's cost-reduction and cash flow-improvement efforts.
Meanwhile, C&D Technologies (CHP), which services the switchgear and control, telecom and uninterruptible power supply markets, climbed 6.7% to $5.77. The Blue Bell, Pa., company introduced a new battery that the company says benefits the environment and cuts costs by consuming less energy than other batteries when charging.
Milpitas, Calif.'s Phoenix Technologies (PTEC) saw shares rise 4.3% to $15.85. Roth Capital upgraded the developer of core system software for PCs and other devices to buy from hold.Access Integrated Tech (AIXD) climbed 18.5% to $3.85. The Morristown, N.J.-based provider of integrated solutions for digital cinema announced it had extended the employment contract of CEO A. Dale Mayo through March 31, 2011. On the losing side, Charleston, S.C.'s Blackbaud (BLKB - Get Report) slipped 12% to $22.63. The company, which provides software products and services to nonprofits, was downgraded by Jeffries & Co. to underperform from buy. X-Rite (XRIT), a technology company that develops color management systems for labels, textiles and other materials, issued downside first-quarter 2008 guidance. The Grand Rapids, Mich., company said it sees weaker economic conditions and market softness in the coming year and forecast a 3% year-over-year decrease in revenue for the quarter. Shares fell 17% to $5.31. Finally, San Diego women's retailer Charlotte Russe (CHIC) tumbled 5% to $17.05 after announcing a Dutch Auction offering of shares. The company said it expects to buy about 4.1 million shares for $73.4 million, or $18 a share. Charlotte Russe also said it estimates that about 9.4 million shares were tendered in the offer at $18 a share, resulting in a proration offer of about 44%. More broadly, the Russell 2000 was recently up 0.2% at 713.89. The S&P SmallCap 600 was also up, 0.2% at 378.68.