Small-cap stocks were taking on losses alongside the major indices as bears controlled the market action Friday. The Russell 2000 was roughly flat at 698.46, and the S&P SmallCap 600 edged down 0.1% to 370.05.
(AZZ - Get Report)
surged 22% higher to $39.35 on better-than-expected fiscal first-quarter earnings. The Fort Worth, Texas-based electrical equipment manufacturer earned $10.1 million, or 82 cents a share, up from $4.1 million, or 34 cents a share, in the same quarter last year. Analysts were looking for earnings of 54 cents a share. Azz is forecasting for fiscal 2009 earnings of $2.95 to $3.05 a share. Analysts are expecting full-year EPS of $2.43, according to Thomson Reuters data.
On the other side, shares of
Christopher & Banks
(CBK - Get Report)
sank to new lows, lately falling 21.3% to $6.94. The Plymouth, Minn., retail apparel company forecasted a weak second quarter, noting transactions were down 10% in the first quarter. While analysts have been expecting 11 cents a share, the company now expects earnings to range between break-even and 3 cents a share.
climbed 16.3% to $7.85. The Bakersfield, Calif.-based petroleum, metal and mineral explorer reported it's surpassing its production rate goals by more than six months.
Also tacking on gains,
Gran Tierra Energy
(GTE - Get Report)
, climbed 6.7% to $8.11. The Calgary-based firm, which explores for oil and gas, reported it had successfully drilled an exploratory well called Popa-2 in central Colombia and is preparing to begin well testing.
Experiencing pain Friday,
(STKL - Get Report)
sank 22.5% to $5.02. The Brampton, Ontario-based natural and organic food company noted its plants would be shut due to floods in Iowa and Kentucky. The company, which has had to take large writedowns, also said its CEO Steve Bromley and CFO John Dietrich "will be transitioning from their current positions by no later than the end of the year." The departures are the result of an ongoing audit process.