Updated from 2:38 p.m. EDT with new stock prices
Small-cap stocks, along with the broader market, opened the week slightly to the downside Monday. The Russell 2000 lost 0.4% to 718.00, and the S&P SmallCap 600 slipped 0.7% to 377.44.
Among the losers, computer security tools provider Aladdin Knowledge (ALDN) saw shares fall 27.4% to $15.80. The Petach Tikva, Israel-based company reported first-quarter earnings before items of $4 million, or 29 cents a share, vs. $4.3 million, or 29 cents a share, a year ago. Analysts polled by Thomson Financial were looking for EPS of 30 cents. The company also forecast full-year 2008 EPS between $1.08 and $1.18, below the Street's estimate of $1.33.
Internet software company Openwave (OPWV) fell 15.2% to $2.06. The Redwood City, Calif.-based firm announced it has appointed Bruce Coleman as interim CEO as it searches for a permanent replacement. The company also forecast a third-quarter loss before items of 4 cents a share. The Street had expected a loss of 3 cents a share.Corriente Resources (ETQ), a Vancouver, B.C., copper and gold mining company operating in Ecuador, announced that the Ecuador Constitutional Assembly had approved a Mining Mandate on April 18. However, Corriente said that it was unable to assess the potential impact of several articles in the mandate. Shares tumbled 18.3% to $3.30. On the winning side, Cupertino, Calif.-based Packeteer (PKTR), which provides wide area network application delivery systems, jumped 13.1% to $6.99. Blue Coat Systems (BCSI) said it would buy the company for $268 million, or $7.10 a share, in cash. Shares of Circor (CIR - Get Report), a Burlington, Mass., designer of valve and fluid control products, gained 12.9% to $49.63. The company raised first-quarter earnings guidance to between 74 cents and 77 cents a share, including a penny in charges, from previous guidance of 54 cents to 58 cents a share, including 2 cents in charges. The Street was looking for 58 cents a share.