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Small-Cap Winners & Losers: Asia Time

Small-cap stocks, along with the broader market, waffled near the baseline Thursday before an eventual rise. The Russell 2000 was up 0.6% at 740.68, and the S&P SmallCap 600 was up 0.5% at 390.73.

Among the day's big winners, Asia Time (TYM), a distributor of watch-movement components based, jumped to new highs. The Hong Kong-based company reported first-quarter earnings of $2.4 million, or 8 cents a share, vs. $193,000, or a penny a share, a year ago. Revenue increased 74% year over year to $36.8 million. Shares climbed 30.5% to $6.50.

Also rising, oil and gas income trust Enterra (ENT - Get Report) surged 17% to $3.61. The Calgary, Canada-based company narrowed its first-quarter loss to $1.9 million, or 3 cents a share, from $62.8 million, or $1.12 a share, a year ago. The loss was due primarily to unrealized mark-to-market losses of $6.8 million, the company said.

Spartan Stores (SPTN - Get Report), a Grand Rapids, Mich., grocer, saw shares rise 12% to $23.79. For the first quarter, the company said it made $7.8 million, or 36 cents a share, vs. $6.8 million, or 32 cents a share, a year ago. Analysts were looking for 32 cents a share.

On the losing side, Yucheng Technologies (YTEC), which provides information technology solutions and services for banking, fell 27% to $13.49. The Beijing company reported that first-quarter earnings improved 88% year over year to $1.4 million, or 8 cents a share. The Street had forecast EPS of 12 cents.

Meanwhile, Wuxi, China-based WSP Holdings (WH - Get Report) dropped 11% to $7.54. The maker of seamless casing, tubing and drill pipes for oil and natural gas exploration announced net income of $15.8 million, or 15 cents a share, down from $16 million, or 21 cents a share, a year ago. Analysts had forecast 16 cents a share.

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ENT $13.23 -1.12%
SPTN $30.86 2.83%
WH $0.02 0.00%
AAPL $126.37 2.53%
FB $83.20 -0.13%


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S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

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