Small-cap stocks opened lower Tuesday and stayed in the red as their blue-chip counterparts hesitated closer to the baseline. The Russell 2000 gave up 0.7% to 730.99, and the S&P SmallCap 600 slipped 0.5% to 386.16.
Among the losers, CompuCredit (CCRT), an Atlanta-based provider of credit and related services, traded well below its 52-week low Tuesday. A Wall Street Journal report stated that federal regulators may seek more than $100 million in fines and restitution related to deceptive marketing practices. The stock recently fell $2.29, or 26%, to $6.50.
Waltham, Mass.-based CMGI (CMGI), which provides supply chain management solutions, announced a third-quarter loss of $2.6 million, or 5 cents a share, down from a profit of $9.4 million, or 19 cents a share, a year ago. The company lowered its revenue outlook to between $1.05 billion and $1.1 billion, down from a previous forecast of $1.1 billion to $1.15 billion. Shares tumbled 24% to $11.36.
Synchronoss Technologies (SNCR - Get Report), which provides multichannel transaction management solutions and is based in Bridgewater, N.J., said it will not participate in on-site retail store activations associated with Apple's (AAPL) new 3G iPhone. Synchronoss already noted this development when providing its financial outlook on its conference call, the company said. Shares fell Tuesday $2.09, or 15.6%, to $11.22 Tuesday.On the winning side, shares of HireRight (HIRE), which provides criminal background checks on prospective employees and analyzes job applicants' breath, urine, hair and saliva, soared to a new 52-week high. HireRight agreed to a $195 million acquisition by U.S. Investigations Services. Shares surged 45% to $15.16. Jinhua, China's Kandi Technologies (KNDI - Get Report) jumped 16% to $4.99. Dutton Associates tagged the maker of go-karts and other vehicles with a strong speculative buy rating and a price target of $6.72.