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Small-Cap Winners & Losers: Georgia Gulf

Small-cap stocks joined the broader market in trading right along the baseline Wednesday, as earnings reports caused the biggest moves for individual names.

Among the losers, Atlanta-based Georgia Gulf (GGC) fell 25% to $4.46. For the first quarter, the maker of chlorovinyls and aromatic chemicals reported a widened loss of $69.5 million, or $2.02 a share, vs. $34.6 million, or $1.01 a share, a year ago. The loss includes a writedown of $26.1 million, or 58 cents a share, stemming from the shuttering of an Oklahoma City PVC resin plant. Analysts, who typically do not include one-off charges in their estimates, were expecting a loss of 38 cents a share, per Thomson Financial. Citigroup downgraded the stock to sell from hold.

Also falling, Kenneth Cole (KCP), a New York purveyor of footwear and handbags, plummeted 17% to $15.20. The company reported first-quarter earnings of 4 cents a share on revenue of $122.5 million. The Street was looking for 3 cents a share. Kenneth Cole also guided for a loss between 11 cents and 13 cents a share for the second quarter, below the consensus estimate of an 8-cent per-share profit. CL King downgraded the stock to neutral from strong buy.

Meanwhile, OraSure Technologies (OSUR - Get Report), which makes oral fluid specimen collectors, saw shares sink to new lows Wednesday, recently tumbling 18% to $5.41. The company after Tuesday's market close said first-quarter profit increased 35% year over year to $2 million, or 4 cents a share. Analysts had predicted 3 cents a share, but OraSure also guided for a second-quarter loss between 6 cents and 7 cents a share. The Street expects a loss of a penny a share.

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SYM TRADE IT LAST %CHG
GGC $54.58 0.00%
KCP $0.00 0.00%
GB $51.34 -0.64%
LMIA $11.17 3.20%
MFLX $21.54 -1.10%

Markets

DOW 17,867.88 -60.32 -0.34%
S&P 500 2,082.59 -6.87 -0.33%
NASDAQ 4,922.9350 -16.3920 -0.33%

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