Small-cap stocks slid, and so did the broader stock market Friday. The Russell 2000 was off 1.2% at 723.93, and the S&P SmallCap 600 gave up 1.1% to 382.87.
Among the biggest losers,
(HURC - Get Report)
, an Indianapolis-based maker of computerized machine tools and integrated computer control systems, fell 18.3% to $38.53. The company announced second-quarter income of $5.5 million, or 85 cents a share, up 17% from the year-ago period. One analyst covering the stock was expecting earnings of 88 cents a share, per Thomson Reuters.
Also falling, shares of
sank to a new 52-week low on a spate of bad news. The Tempe, Ariz.-based airline said that thanks to rising fuel costs it would delay opening a route from Philadelphia to Beijing and raise its fares as much as $60 roundtrip. S&P put nine airlines, including US Airways, on negative CreditWatch. Credit Suisse downgraded the stock to underperform from outperform, and UBS cut its price target for US Airways and six other airline stocks. The stock shed 18.6% to $4.25 Friday.
Meanwhile, ethanol producer
(PEIX - Get Report)
stumbled 18% to $4.25. The Sacramento, Calif., company said it raised $34.3 million through sales of stock and warrants.
(BBOX - Get Report)
dropped 12% to $28.67. The Lawrence, Pa.-based provider of network infrastructure announced non-GAAP fourth-quarter fiscal 2008 earnings of $13.1 million, or 74 cents a share, vs. $12.2 million, or 69 cents a share, a year ago. The results were slightly below one analyst's profit estimate of 74 cents a share. Black Box also guided for fiscal 2009 EPS between $3.25 and $3.40. A Stifel Nicolaus analyst lowered his profit target for the stock to $3.36 a share, and said the company's prediction was conservative, according to the the